Finnair Board of Directors has approved as a part of existing long-term incentive arrangement a performance share plan, covering years 2015–2017, for the key personnel of the Finnair Group. The share plan is a part of Finnair’s long-term share-based incentive arrangement that Finnair Board of Directors approved in 2013, and which consists of annually commencing
The Boeing board of directors increased the company’s authorization for its share repurchase plan to US$12bn and declared that the company’s regular quarterly dividend will increase by 25% to 91 cents per share. “Strong operating performance across our business continues to generate significant cash flow and financial strength for Boeing,” said Jim McNerney, Boeing Chairman
Per Wennberg, nominated to Finnair’s Shareholders’ Nomination Board by Skagen funds, has decided to resign the Board following the decision of Skagen funds to sell their shareholding in Finnair. Skagen funds was one of the three largest shareholders of Finnair. According to the rules of the Shareholders’ Nomination Board, the shareholder eligible to appoint the
SAS has secured a Pre-Delivery Payment Financing Facility (PDP Facility) covering a portion of the pre-delivery payments that SAS is making under the aircraft order with Airbus. The PDP Facility covers certain payments in relation to two Airbus A330-300 Enhanced and six Airbus A320NEO aircraft and is structured as a revolving credit facility under which
Avolon announced the pricing of its initial public offering of 13,636,363 common shares at a public offering price of $20.00 per share. The shares are expected to begin trading on the New York Stock Exchange under the symbol “AVOL” on December 12th, 2014. All of the common shares are being offered by the selling shareholders.
AerCap Holdings N.V. (“AerCap”, NYSE: AER) today announced that it has completed an amendment and upsize of its revolving warehouse facility. The non-recourse facility, which was originally put in place in 2006, has been amended to increase the transaction size from $1.6 billion to $2.2 billion and to allow for an additional three year revolving
The International Air Transport Association (IATA) announced an outlook for improved industry profitability in its Economic Performance of the Air Transport Industry report. Airlines are expected to post a collective global net profit in 2014 of some US$19.9bn (up from the US$18.0bn projected in June). This looks set to rise to US$25.0bn in 2015. Lower
Spirit AeroSystems has reached an agreement to transfer the Gulfstream wing work packages at Spirit’s facility in Tulsa, Oklahoma, to Triumph Group, the transfer includes both the G650 and G280 wing programs. Spirit employees who are currently working on the Gulfstream programs will be offered positions with Triumph. “The Triumph Group emerged as the preferred
Aviation Technical Services (ATS) has acquired Texas Air Composites (TAC), a Domestic 145 Repair Station specializing in composite structural fabrication, support and repair for regional, commercial and military aircraft. Located in Fort Worth, Texas, TAC has an experienced team of over 100 employees and operates over 138,000 ft² of climate‐controlled facilities. TAC fits into ATS’
Since 2004, SAS has had a wet lease agreement (aircraft and crew) with Cimber A/S that has a cost efficient production platform for regional jet operation. The acquisition provides SAS with an opportunity to transfer production with smaller aircraft to Cimber, consisting of 12 CRJ900 with base in Copenhagen. As a result, a more focused
