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
Nordic Aviation Capital A/S (NAC), the global leader in turboprop leasing, has closed a landmark US$300m debt facility. The company will use the proceeds to part finance the acquisition of turboprop and regional jet aircraft, which will then be leased to airline partners around the world. Søren M. Overgaard, CFO, added: “This facility, which has
PPG Industries has submitted an offer to acquire a majority interest in the aerospace and automotive sealants businesses of Le Joint Français (LJF). LJF is a supplier of sealants and adhesives products for the aerospace and automotive industries and has been a long-term licensee of PPG’s aerospace sealant technology. LJF’s aerospace and automotive sealants businesses would
The Finnish Competition and Consumer Authority has approved the transaction in which Flybe Uk’s 60% ownership of Flybe Nordic venture will be transferred to StaffPoint Holding and G.W. Sohlberg (GWS). The letter of intent on this transaction was announced on January 7th 2015. Upon completion of the sale, StaffPoint’s ownership in the joint venture will
JetBlue reported operating income of US$169m in the fourth quarter. This compares to operating income of US$115m in the fourth quarter of 2013. For the full year 2014, JetBlue reported operating income of US$515m. This compares to operating income of US$428m in 2013. Pre-tax income of US$140m in the fourth quarter. This compares to pre-tax
B/E Aerospace reported 2014 revenues of US$2.6bn increased 18.0% as compared with the prior year. Adjusted operating earnings were US$466.4m, an increase of 19.8% and adjusted operating margin of 17.9% increased 20 basis points as compared with the prior year. On a GAAP basis, operating earnings were US$384.0m. 2014 adjusted EBITDA of US$571.1m increased 21.1%
