B/E Aerospace announced third quarter 2012 financial results. Revenues of $766.7m increased 20.6%, Operating earnings, adjusted to exclude acquisition, integration and transition (AIT) costs, were $138.9m, an increase of 23.9% and adjusted operating margin of 18.1% increased 50 basis points. Operating earnings, on a GAAP basis to include AIT costs, were $134.3m. Net earnings adjusted
MTU Aero Engines Holding AG continues to grow: In the first nine months of 2012, the company posted an increase in revenues of 19% to €2,468.0m (1-9/2011: €2,067.3m). Operating profit rose by 13% from €245.3m to €278.0m. The operating margin reached 11.3% after 11.9% in the equivalent period last year, while earnings after tax also
Willis Lease Finance Corporation has repurchased 443,561 shares of common stock at an average price of $13.79 per share for $6.1m. The shares were purchased under the five-year plan authorized earlier this month by the Board of Directors. Willis Lease has 8.9m shares of common stock outstanding following these repurchases. In the first six months
Hawker Beechcraft announced that it intends to emerge from Chapter 11 protection as a standalone company. Hawker Beechcraft also announced that it is no longer pursuing a transaction with Superior Aviation Beijing Co., because the parties could not reach agreement on the terms of a Plan Sponsorship Agreement. Robert S. “Steve” Miller, CEO of Hawker
GA Telesis has closed on a new syndicated $100m credit facility. Led by PNC Bank, N.A., the facility has a three year term and has participation from a total of six global and regional banks. It provides the company with additional financial resources at cost efficient and flexible terms to support the company’s growth. The
Southwest Airlines reported that third quarter 2012 net income was $16m, which included $81m (net) of unfavorable special items. This compared to a net loss of $140m in third quarter 2011, which included unfavorable special items totaling $262m (net). Excluding special items, third quarter 2012 net income was $97m, compared to $122m in third quarter
AMR Corporation reported a third quarter net profit of $110m, excluding reorganization items and special charges – a $272m improvement compared to the prior year period. In the third quarter of 2012, AMR incurred a net loss of $238m compared to a net loss of $162 million in the same period of 2011. AMR reported
Safran has entered into a definitive agreement with Goodrich Corporation to acquire the electrical power systems activities of Goodrich (Goodrich Electric Power Systems – GEPS), a leading supplier of on-board aerospace electrical power systems. These activities are expected to generate revenues of over USD 200m in 2012, of which the aftermarket business (spares and MRO
International Lease Finance Corporation, a wholly owned subsidiary of American International Group (AIG), announced today that it has entered into a new $2.3bn committed unsecured revolving credit facility, replacing its $2.0bn unsecured revolving credit facility entered into in January 2011. The new facility, which is available for general corporate purposes, further enhances the company’s strong
HEICO Corporation released that its Flight Support Group has acquired 80.1% of the assets and certain liabilities of Action Research Corporation of Greer, SC. Financial terms were not disclosed, but HEICO stated that it expects the acquisition to be accretive within the first year after the closing. Action Research Corporation (ARC) is an FAA-Approved Repair
