Boeing expects the market for financing new aircraft to remain strong as airline customers continue to demand for new, fuel-efficient airplanes. “Globally the liquidity balance looks good as the industry rebalances itself to move away from export credit support, with its more expensive pricing, and more toward reliance on the commercial markets,” said Tim Myers,
Lufthansa Technik Group’s 4.2% increase in revenue to €4.2bn in 2013 was characterized by stable business development within the Lufthansa Group and an increase in business with external customers, whose share of the total revenue rose by 1.7% to reach 62.2%. The operating result improved considerably, climbing by 23.2% to €404m, with an operating margin
LATAM Airlines posted a net loss of $46.1m for the fourth quarter due to a drop in revenue and a foreign exchange loss stemming from the Brazilian real’s depreciation, the company said on Monday, March 17th. The company, formed in mid-2012 when Chile’s flagship LAN took over Brazil’s TAM, posted a net loss of $69.8m
Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) and Sabena technics have reached an agreement under which the Franco-Dutch group will take full control of Barfield, the North American subsidiary of Sabena technics. The transaction should be finalized in the first half of 2014, subject to regulatory approval. Barfield was founded in 1945
Textron has closed its acquisition of Beech Holdings, LLC, the parent of Beechcraft Corporation, and that it will bring together its Cessna business and Beechcraft to form a new segment called Textron Aviation. Cessna and Beechcraft together produced about $4.6bn in revenues during 2013. The acquisition brings together three iconic brands, each pioneering many of
JetBlue Airways has agreed to sell its wholly owned subsidiary LiveTV to Thales Group for $400m. The sale which is subject to regulatory and other approvals is expected to be completed in mid-2014. LiveTV is a leading provider of live in-flight entertainment and connectivity systems for commercial airlines. In 2013, LiveTV and its partner ViaSat
Aircastle announced it plans to offer an aggregate of $400m principal amount of its senior notes due 2021. Aircastle plans to use the net proceeds of the offering, together with cash on hand, to fund the repayment or redemption of its 9.75% senior notes due 2018. Goldman, Sachs & Co., BNP Paribas Securities Corp., Citigroup
AeroCentury, an independent aircraft leasing company, reported its operating results for the fourth quarter and year ended December 31, 2013. The Company reported a net loss of $1.4m for the fourth quarter of 2013, compared to net income of $1.8m for the fourth quarter of 2012. However, for the year ended December 31, 2013, the
The HAECO Group reported an attributable profit of HK$625m in 2013, 24.0% lower than that in 2012. Earnings per share decreased by 24.0% to HK$3.76. Turnover increased by 26.7% to HK$7,387m. Demand for line maintenance services in Hong Kong remained stable. 2.8% more aircraft movements were handled in 2013 than in 2012. Airframe maintenance and
International Lease Finance Corporation (ILFC) has closed a new senior secured term loan of $1.5 billion. The loan will bear interest at LIBOR plus 275 basis points with a 0.75% LIBOR floor, is priced at 99.5% of par value, and will mature in 2021. The collateral used to support the transaction has an initial weighted
