Air Astana increased its operating profit by 115% to US$23.9m in the first half of 2015. Net profit was US$8.3m, versus a loss of US$36.4m in the first half of 2014 (the result of a book loss following a local currency devaluation), whilst passenger numbers increased by 4% to 1.82 million. Total revenue was however
During the second quarter, Norwegian’s total revenue was almost 5.9 BNOK, up 16% from the same quarter last year while Norwegian’s long-haul routes had a revenue growth of 60%. Norwegian’s production growth for this quarter was 8%, while the company’s traffic growth was 15%. Norwegian’s pre-tax result (EBT) for the 2nd quarter 2015 was 456
Delta Air Lines reported financial results for the June 2015 quarter, including adjusted net income1 of US$1.0bn up 22% from the June quarter of 2014. Delta’s operating revenue for the June quarter increased 1%, despite US$160m in foreign currency pressures which reduced unit revenues by approximately 2 points. Passenger unit revenues declined 4.6% on a
Macquarie Infrastructure Corporation (MIC) announced that a performance fee of US$135.6m is payable to its external Manager, Macquarie Infrastructure Management (USA), as a result of outperformance by the Company of its benchmark index over the second quarter of 2015. The fee represents outperformance of MIC’s benchmark of approximately 10.8% during the quarter ended June 30,
Avolon, the international aircraft leasing company, and Bohai Leasing, the Chinese leasing and financial services company affiliated with HNA Group, have entered into an agreement under which Bohai will make a cash tender offer for 20% of the outstanding common shares of Avolon at a price of US$26 per common share. The Transaction will be
AE Industrial Partners, a private equity investor in aerospace, power generation and specialty industrial companies, has completed its acquisition of Belcan Corporation (“Belcan”), a leading engineering services and technical staffing provider in the aerospace, power generation and industrial markets. Terms were not disclosed. The transaction was previously announced on June 4th, 2015. Concurrent with the
GOL Linhas Aereas Inteligentes has agreed to enter into several strategic transactions with the Constantino Family, GOL’s controlling shareholder, and Delta Air Lines to strengthen the airlines’ strategic alliance and enhance GOL’s financial position and liquidity. As part of the agreement, GOL’s controlling shareholder will invest up to US$90 million in newly issued preferred shares
Lightweight metals leader Alcoa reported solid second quarter 2015 results as the Company’s transformation showed strong progress. Profitability from Alcoa’s growing aerospace and automotive businesses increased year-over-year as mid and downstream investments delivered positive impact. In the upstream, the Primary Metals business was resilient in the face of market headwinds and the Alumina business delivered
KLM signed a €575m revolving credit facility with 10 international banks, finalizing the early refinancing of its credit facility which was due to mature in July 2016. The facility has a tenor of 5 years and shows improved terms compared to KLM’s existing facility. The transaction was launched at €575m and KLM took advantage of
Worldwide Flight Services (WFS) is to acquire a 51% shareholding in Fraport Cargo Services (FCS) as part of a strategic partnership with Fraport AG. The investment is part of WFS’ strategy to continue to expand in Europe’s major cargo markets. Fraport is to retain a 49% share in FCS and will continue to take a
