Airbus is increasing its share in the Harbin Hafei Airbus Composite Manufacturing Centre (HMC), from 20 to 25%. The joint-venture which was set up in 2009 is between Airbus and a group of Chinese partners. AVIC (the Aviation Industry Corporation of China) is the holding group of major Chinese shareholding companies that own the centre.
Spirit Airlines reported that net income for the fourth quarter 2013 increased 109.9% to $41.0m, compared to $19.5m for the fourth quarter 2012. GAAP net income for the fourth quarter 2013 was $43.2m compared to $19.6m in the fourth quarter 2012. Adjusted net income for the full year 2013 increased 71.0% to $177.5m compared to
BOC Aviation has priced a private placement of RMB 300m of 10-year senior unsecured fixed rate notes (the “Notes”). This is first 10-year offshore RMB bond issued by BOC Aviation and the first to be issued by an aircraft operating lessor. The transaction, arranged by DBS Bank, was issued off BOC Aviation’s US$2bn Euro Medium
MTU Aero Engines AG has built on the record year of 2012 with its business figures for 2013: MTU improved its all-time high in revenues to €3,741.7m (2012: €3,378.6m), and is thus fully in line with its revenue forecast of around €3.7bn. Earnings matched the record level of 2012: At €377.3m, operating profit clearly met
Astronics Corporation reported consolidated sales increased by $38.0m, or 56.4%, to $105.5m compared with the same period last year. The acquired businesses accounted for $23.8m of sales in the 2013 fourth quarter, all in the aerospace segment. Consolidated gross profit was $25.2m, up $7.6m from the fourth quarter of 2012. Consolidated gross margin was 23.9%
Bombardier Aerospace’s revenues amounted to $2.9bn for the three-month period ended December 31, 2013, compared to $2.6bn for the corresponding period last fiscal year. For the year, revenues totalled $9.4bn, compared to $8.6bn last fiscal year. For the fourth quarter ended December 31, 2013, EBIT totalled $93m, or 3.2% of revenues ($94m, or 3.3%, before
Copa Holdings reported net income of $113.9m for 4Q13, as compared to net income of $86.6m in 4Q12. Excluding special items, which for 4Q13 includes a non-cash impairment charge of $31.2m on Intangible Assets booked in 2005 related to the acquisition of AeroRepublica (now Copa Colombia) and a non-cash gain of $2.6mn associated with the
At the Airshow in Singapore BNP Paribas and VietJetAir have reached a mutual agreement wherein BNP Paribas was assigned to be the adviser and financing arranger for VietJetAir’s aircraft order. In which BNP Paribas will arrange financing for the first three aircrafts that VietJetAir will receive in 2014. The value of these three aircrafts is
Rolls-Royce’s underlying revenue increased 27% to £15.5bn, including £2.6bn in revenue from Tognum. Excluding Tognum, the Group’s revenue increased 6% to £12.9bn, with 7% growth in original equipment and 4% growth in services. In 2013, 47% of the Group’s revenue was generated by the sale of aftermarket parts and services (52% in 2012). Underlying profit
Air Canada reported record full year earnings before interest, taxes, depreciation, amortization and impairment, and aircraft rent (“EBITDAR”(1) of $1.433bn (or $1.515bn including the impact of benefit plan amendments) compared to EBITDAR of $1.320bn (or $1.447bn including the impact of benefit plan amendments) in 2012, an increase of $113m (or $68m including the impact of
