Air Canada reported full year adjusted net income of CA$531m compared to adjusted net income of CA$340m in 2013, an improvement of CA$191m. EBITDAR (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to CA$1.671bn compared to EBITDAR (excluding the impact of benefit plan amendments) of CA$815m, an increase of CA$196m from 2013. The
Bristow Helicopters Australia has acquired an 85% interest in Airnorth, the largest regional airline operating across Northern Australia. Airnorth will retain its name and brand identity and will continue to operate under the direction of Michael Bridge, Airnorth’s chief executive officer. Bridge will remain on the Airnorth board of directors. Bristow will have three representatives
Qatar Airways has acquired a 9.99% stake in International Airlines Group (IAG). Both IAG and Qatar Airways have a close relationship already as part of the oneworld alliance and IAG welcomes Qatar Airways’ statement that it would look to strengthen existing commercial ties. Commenting on the share acquisition, Willie Walsh, IAG chief executive, said: “We’re
Spirit AeroSystems’ operating loss for the fourth quarter of 2014 was (US$273)m compared to operating loss of (US$321)m in the fourth quarter of 2013. Net loss for the quarter was (US$106)m compared to ($587)m in the same period of 2013. The current quarter includes a pretax charge of (US$471)m for the divestiture of Gulfstream programs
SAS has entered into a slot transaction with a major international air carrier that will take over one slot-pair at London Heathrow from SAS at the beginning of the summer traffic program on March 29th 2015. The transaction will generate a positive earnings impact of the equivalent of US$60m for SAS to be accounted for
WestJet reported its fourth quarter and year-end results for 2014, with record adjusted full-year net earnings of CA$317.2m. This compares with the net earnings of CA$268.7m in the full-year 2013, up 18% and 21%, respectively. For the fourth quarter, the airline reported record diluted earnings per share of CA$0.70, up 35% from CA$0.52 reported last
BOC Aviation has priced a private placement of offshore RMB250m five-year fixed rate senior unsecured notes. The transaction, arranged by DBS Bank, was issued off BOC Aviation’s US$5bn Euro Medium Term Note Programme. The sale of the Notes is expected to close on February 2015, subject to satisfaction of customary closing conditions. The Notes were
SAS is completing the acquisition of Cimber after meeting all of the terms of the transaction, including approval from the Danish Competition and Consumer Authority. SAS has appointed Kent Hansen as the new president of the airline. He will succeed the current president on March 1st, 2015. SAS has also appointed Kjetil Grønevik as Finance
Esterline Corporation, a leading specialty manufacturer serving aerospace and defense markets, has completed its acquisition of the aerospace and defense display businesses of Belgium-based Barco N.V. for €150m, or approximately US$175m, in cash. The company financed the acquisition primarily using international cash reserves, with the balance funded by borrowings under its existing credit facility. Barco’s
GE Capital Aviation Services (GECAS), the aircraft leasing unit of GE (GE), completed and closed its acquisition of Milestone Aviation Group, the Dublin-based helicopter lessor, for US$1.775bn plus the assumption or payoff of Milestone’s existing debt. “The acquisition of Milestone is a key part of our growth strategy for 2015 and beyond as we add
