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
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
