Financial

Virgin America reported its financial results for the first quarter of 2014. The airline significantly narrowed its net loss from the same period in 2013 with a 51.8% year-over-year improvement. Virgin America reported total operating revenue of $313.4m, an increase of 4.0% over the first quarter of 2013. First quarter 2014 operating loss of $13.1m

Rolls-Royce committed to a share buyback of £1bn subject to the completion of the sale of its Energy gas turbine and compressor business to Siemens. The sale announced on 6 May this year, is expected to complete by the end of 2014. As no material acquisitions are planned, and reflecting the strength of the balance

Cronus Partners posted, it acted as the exclusive financial advisor to Boreas Holdings, in a refinancing through an extension of credit facilities provided by TD Bank, N.A. Boreas is the parent of multiple affiliated aviation services operating companies. Cronus continues to be a valued financial partner in the growth, enabling to continue the company’s expansion.

Ethiopian Airlines has become the largest African carrier by revenue and profit according to the International Air Transport Association’s (IATA) latest airline ranking – published in the 58th edition of World Air Transport Statistics (WATS). With revenue topping $2.3bn in 2013, this is the first time Ethiopian Airlines has achieved such a ranking in its

Thales announced the closing of the acquisition of LiveTV from JetBlue for $399m. As part of the arrangement, the two companies will form a partnership that focuses on innovation for both passengers and airline operations. The acquisition of LiveTV is part of Thales’s strategy to meet passenger demands by delivering high quality, fast connections while

Element Financial Corporation, one of North America’s leading equipment finance companies, has entered into an agreement with Cargojet, to finance three Boeing 767-300ER freighter aircraft for approximately $100m. The transaction will provide the Canadian supplier of air cargo services with additional capacity to support its growing client base.

Wesco Aircraft Holdings announced the commencement of a public offering of 6,000,000 shares of its common stock by an affiliate of The Carlyle Group. In addition, the underwriter will have a 30-day option to purchase up to 900,000 additional shares from Carlyle. Upon completion of the offering, Carlyle will beneficially own approximately 24.1% of the

B/E Aerospace has signed a definitive agreement to acquire EMTEQ, a provider of aircraft interior and exterior lighting systems, as well as aircraft cabin management and power systems. The Company also has signed a definitive agreement to acquire F+E Fischer + Entwicklungen GmbH & Co. KG (Fischer) the leading manufacturer of seating products for civilian

The ongoing uncertain economic outlook in Europe and Asia is contributing to weak consumer demand in Finnair’s main markets. Air traffic is expected to grow moderately in 2014. Finnair, however, will not be able to benefit from that growth without progress in its cost savings program and its target cost structure in place. Finnair estimates