During the Annual General Meeting (AGM), Fraport AG’s executive board chairman (CEO), Dr. Stefan Schulte, informed the Group’s shareholders about the key financial figures and air traffic developments in fiscal 2014. The previous year saw worldwide rising demand for mobility, driven primarily by growing markets in Asia. Passenger figures in Europe also increased by more
Etihad Airways achieved its strongest financial results to date in 2014, posting a net profit of US$73m on total revenues of US$7.6bn, up 52.1% and 26.7% respectively over the previous year. The record performance, which marked the airline’s fourth consecutive year of net profitability, also saw earnings before interest and tax (EBIT) up 32.5% to
L-3 Communications acquired UK-headquartered CTC Aviation Group, now known as L-3 CTC. The purchase price is £143m (approximately US$220m)and was funded with cash on hand. The acquisition is expectedto be immediately accretive to L-3’s results of operations. L-3 CTC is a high-quality, global airline pilot training and crew resourcing specialist that offers customized and innovative
VistaJet Malta Finance P.L.C. and VistaJet Co Finance LLC, subsidiaries of VistaJet Group Holding SA have now closed their offering of US$300m aggregate principal amount of 7.750% senior unsecured notes due 2020. Interest on the 5-year notes is payable semi-annually on June 1st and December 1st, beginning on December 1st 2015. The notes are guaranteed
Ryanair reported a full year net profit of €867m, ahead of previous guidance. Traffic for the whole year was up 11% to 90.6m as load factors rose from 83% to 88%. Unit costs ex fuel were flat (including fuel they fell 5%), while net profits rose 66% as net margin jumped from 10% to 15%.
Dubai Aerospace Enterprise (DAE) signed a definitive agreement to sell 100% of StandardAero to an affiliate of Veritas Capital. Terms of the transaction were not disclosed. DAE Managing Director Khalifa H. AlDaboos said: “StandardAero is one of the world’s largest independent MRO platforms with clients in over 70 countries. DAE acquired StandardAero in 2007 and
Macquarie Infrastructure Corporation (MIC) has successfully completed a planned conversion to a Delaware corporation from a Delaware limited liability company. The conversion was effective on May 21st, 2015. The conversion had no impact on the business or management of the Company and has been treated as a tax-free exchange under relevant Internal Revenue Service regulations.
Bristow Group reported net income for the March 2015 fiscal fourth quarter of US$15.1m compared to net income of US$30.3m in the same period a year ago. Adjusted net income, which excludes special items and asset disposition effects, decreased 35.3% to US$31.8m for the March 2015 quarter, compared to US$49.1m in the March 2014 quarter.
HEICO CORPORATION reported that net income increased 17% to US$33.1m in the second quarter of fiscal 2015, up from US$28.4 million in the second quarter of fiscal 2014. In the first six months of fiscal 2015, net income increased 9% to a record US$60.7m up from US$55.8m in the first six months of fiscal 2014.
Romanian aerospace company Aerostar S.A, has released its financial results for 2014 recording another successful financial year, with turnover up 23%, and net profits increased by 25%. Exports represented 70% of turnover, there was continued Investment in plant, machinery and training, with employment remaining stable at around 1900 people. Aerostar continued implementing its strategy of
