Willis Lease Finance, the premier independent jet engine lessor in the commercial finance sector, reported second quarter 2014 net income was $2.2m, compared to $9.7m in the second quarter of 2013, and $4.3m in the first quarter of 2014. Earnings for the second quarter of 2013 were positively impacted by a one-time $8.6m tax benefit
Vance Street Capital, a Los Angeles-based private equity firm, and its affiliates, have acquired Eirtech Aviation (“Eirtech”), a specialist aviation coating services company headquartered in Shannon, Ireland. Eirtech, together with existing Vance Street portfolio companies Leading Edge Aviation Services and Associated Painters, will form International Aerospace Coatings Holdings LP. The combined entity creates a leading
Air Transport Services Group, a leading provider of medium wide-body aircraft leasing, air cargo transportation and related services, reported consolidated financial results for the quarter ended June 30th, 2014. Revenues were $149.6m, up $10.7m, or 8% from a year ago. Excluding revenues from reimbursable expenses, revenues increased $4.8 million, or 4%. Net earnings from continuing
Transaero Airlines released that total revenue from all operations for the first six months of 2014 has increased by 1.1% over the same period of the previous year, up to 48.8bn rubles (US$ 1.39bn). Traffic revenue increased by 6.5%. From 2012 Transaero has been sccessfully implementing the Cost Reduction Programme. Thanks to this programme the
Safran reported first-half 2014 adjusted revenue was €7,208m, up 4.4% year-on-year (5.3% organic).Adjusted recurring operating income at €981m (13.6% of revenue), up 16.5% year-on-year. After one-off items totalling Euro (10) million, profit from operations was €971 m. Adjusted net income – group share of €632m (€1.52 per share) compared with €658m in 2013 which included
Bombardier Aerospace’s revenues amounted to $2.5bn for the three-month period ended June 30th, 2014, compared to $2.3bn for the same period last fiscal year. EBIT totalled $141m, or 5.6% of revenues, compared to EBIT before special items of $107m, or 4.7%, and EBIT of $138m, or 6.1%, for the same period last fiscal year. Free
Precision Aviation Group, a leading provider of products and value-added services to the worldwide aerospace and defense industry announced the acquisition of Aviation Controls, Inc. (ACI). ACI is a leading global provider of Maintenance, Repair, and Overhaul Services (MRO) for engine accessories, specializing in components and accessories for the GE J-85, Honeywell LTS-101, and Rolls
Gogo, a leading global aero communications service provider, has obtained a $75m increase to its existing $248m credit facility arranged by Morgan Stanley. Gogo intends to use the proceeds of the debt financing for general corporate purposes.
In the second quarter of 2014 (2Q14), Embraer delivered 29 commercial and 29 executive (22 light and 7 large) jets. The Company’s firm order backlog ended 2Q14 at US$18.1bn. As a result of aircraft deliveries, coupled with revenues from the Company’s Defense & Security business, 2Q14 revenues were US$1,761.3m, for year-over-year growth of 13.1%. Year-to-date
Messier-Bugatti-Dowty and Sabena technics signed an agreement on July 18th for Messier-Bugatti-Dowty to acquire Sabena technics’ 50% stake in their 50/50 joint company, Hydrep. The transaction is scheduled to take effect in September 2014. Based in Dinard, France, Hydrep employs 100 people and is a leading provider of repair services for landing gear on regional
