CIT Group, a global leader in aircraft finance, reported that CIT Aerospace provided a $27m senior secured credit facility to Virgo Investment Group, a private investment management firm, to finance its acquisition of four Boeing 737-700 aircraft leased to GOL. Each aircraft is equipped with CFM56 engines. The financing was provided by CIT Bank, the
Spirit Airlines reported adjusted net income for the second quarter 2014 increased 45.2% to $66.5m compared to $45.8m the second quarter 2013. GAAP net income for the second quarter 2014 was $64.8m compared to $42.1m in the second quarter 2013. For the second quarter 2014, Spirit achieved an adjusted pre-tax margin of 21.3% compared to
WestJet announced its second quarter results for 2014, with net earnings of $51.8m as compared with the net earnings of $44.7m in the second quarter of 2013. Based on the trailing twelve months, the airline achieved a return on invested capital of 13.7%, consistent with the 13.7% reported in the previous quarter.
Southwest Airlines reported quarterly net income, excluding special items, of $485m compared to second quarter 2013 net income, excluding special items, of $274m. Quarterly net income of $465m, which included $20m (net) of unfavorable special items, compared to second quarter 2013 net income of $224m, which included $50m (net) of unfavorable special items. Southwest reported
For the second quarter 2014, American Airlines Group reported a record GAAP net profit of $864m. This compares to a GAAP net profit of $220m in the second quarter 2013, for AMR Corporation prior to the merger. The Company believes it is more meaningful to compare year-over-year results for American Airlines and US Airways excluding
United Airlines reported second-quarter 2014 net income of $919m, an increase of 51% year-over-year, excluding $130m of special items. Including special items, UAL reported second-quarter 2014 net income of $789m. Second quarter of 2014, total revenue was $10.3bn, an increase of 3.3% year-over-year. Second-quarter consolidated passenger revenue increased 3.6% to $9.0bn, compared to the same
JetBlue reported record second quarter operating revenues of $1.5bn. Revenue passenger miles for the second quarter increased 5.7% to 9.6bn on a capacity increase of 6.0%, resulting in a second quarter load factor of 84.6%, a decrease of 0.3 points year over year. Operating expenses for the quarter increased 9.8%, or $119m, over the prior
In the first six months of 2014, MTU Aero Engines AG achieved a revenue growth of 2% to €1,815.8m (1-6/2013: €1,774.9m). Operating profit remained stable at €170.7m (1-6/2013: €169.7m), with an EBIT margin of 9.4% compared with 9.6% in the first half of 2013. Net income increased by 4% to €111.0m (1-6/2013: €106.7m). The increase
Boeing reported second-quarter core earnings per share (non-GAAP) of $2.42, reflecting strong performance and favorable tax items. Commercial Airplanes second-quarter revenue increased 5% to $14.3bn on higher deliveries. Second-quarter operating margin was 10.8%, reflecting the delivery volume and strong performance offset by the $238m pre-tax charge on the KC-46A Tanker program. During the quarter, Commercial
Delta Air Lines reported that pre-tax income for the June 2014 quarter was $1.4bn, excluding special items, an increase of $593 million over the June 2013 quarter on a similar basis. Delta’s net income for the June 2014 quarter was $889m and its operating margin was 15.1%, excluding special items. On a GAAP basis which
