Virgin America achieved its first-ever fourth quarter operating profit with $5.1m of operating income, an improvement of $13.2m, compared with the fourth quarter of 2011. The airline recorded operating revenues of $350.4 million in the fourth quarter, a year-over-year increase of 27%. EBITDAR increased to $65.1m in the fourth quarter, a year-over-year improvement of 54%.
Air Transport Services Group, a leading provider of aircraft leasing and air cargo transportation and related services, reported consolidated financial results for the quarter ended March 31, 2013. Revenues were $143.3m, a decrease of 1.5%. Total operating expenses were $126.9m, down 3.7%, including a $3.8m reduction in salaries, wages and benefits expense due in large
Air Lease Corporation reported another consecutive quarter of fleet, revenue, profitability and financing growth. Diluted EPS increased by 46% to $0.38 per share for the three months ended March 31, 2013 from $0.26 per share for the three months in 2012. Revenues increased 45% to $192m compared to $133m in 2012. Income before taxes increased
Bombardier reported its financial results for the first quarter ended March 31, 2013. Revenues totalled $4.3bn for the first quarter ended March 31, 2013, compared to $3.5bn for the same period last fiscal year. Earnings before financing expense, financing income and income taxes (EBIT) before special items totalled $240m, or 5.5% of revenues, compared to
HEICO Corporation has entered into a definitive agreement to acquire Reinhold Industries from certain affiliates of The Jordan Company, L.P., a New York-based investment firm, and Reinhold management. Reinhold will be part of HEICO’s Flight Support Group. Financial details were not disclosed, but HEICO stated that it expects the acquisition to be accretive to its
WestJet announced its first quarter results for 2013. The airline reported record net earnings of $91.1m, up from the net earnings of $68.3 million reported in the first quarter of 2012. These results mark WestJet’s 32nd consecutive quarter of profitability. Based on the trailing twelve months, the airline achieved a return on invested capital of
BOC Aviationn successfully priced a US$150m re-opening of the existing US$350m 4.375% Senior Unsecured Notes due May 2023 (the “Notes”), to tap into unfilled investor demand. The re-opened issuance was more than six times subscribed with orders exceeding US$900m. Carrying the same coupon rate of 4.375% per annum and the same maturity date of 2
Willis Lease Finance Corporation (WLFC), reported earnings of $1.6m in the first quarter ended March 31, 2013, compared to $2.5m in the like quarter a year ago, with the drop in earnings primarily due to reduced gains on the sale of leased equipment. In the fourth quarter of 2012, Willis Lease recorded a loss of
The sale of Widerøe represents an important step in the improvement of SAS’ financial position with a significant reduction of SAS’ financial leverage. SAS and Widerøe will have a continued close commercial cooperation after the transaction, with Widerøe remaining an important regional partner to SAS. As part of the transaction, SAS will sell seven Dash
Air Canada reported an adjusted net loss of $143m compared to an adjusted net loss of $162m in the first quarter of 2012. On a GAAP basis, Air Canada’s net loss was $260m compared to a net loss of $274m in the same quarter in 2012. First quarter EBITDAR amounted to $145m compared to EBITDAR
