Rockwell Collins reported first quarter fiscal year 2012 income from continuing operations of $130m compared to $150m in the same period last year. Prior year results included a favorable impact to income tax expense of $21m related to differences in the availability of the Federal R&D Tax Credit. The company reported total sales of $1.1bn
Southwest Airlines reported that fourth quarter 2011 net income was $152m, which included $86m (net) of favorable special items. This compared to net income of $131m for fourth quarter 2010, which included favorable special items totaling $16m (net). Excluding special items, fourth quarter 2011 net income was $66m, compared to net income of $115m in
ST PAE Holdings (ST PAE), a subsidiary of ST Aerospace, reported that it has entered into an agreement with Aviation International Engineering Services (AIRS) to transfer the latter’s 50% stakes in Aerospace Engineering Services and AES Unit Trust to ST PAE for considerations of A$6.00 (approximately S$7.92) and A$416,393.40 (approximately S$549,514.37) respectively. Following the transaction, AES, which is the
AAR CORP. intends to commence an offering of $175,000,000 in aggregate principal amount of senior unsecured notes due 2022 (the “Notes”) in a private placement to eligible purchasers. The Notes will be senior obligations of AAR CORP. (the “Company”) and will be guaranteed by the Company’s existing domestic subsidiaries. The Company intends to use the
Hong Kong Aircraft Engineering Company (HAECO) and Taikoo (Xiamen) Aircraft Engineering Company (TAECO) – a subsidiary of HAECO, reported that the two companies have acquired 49% shareholding that SR Technics holds in Shanghai SR Aircraft Technics Company (SR Shanghai). The company has been renamed Shanghai Taikoo Aircraft Engineering Services Company (STA) to take up the
Deutsche Lufthansa AG and International Airlines Group (IAG) have signed a binding agreement for the sale of British Midland Limited (bmi) to IAG. The price is £172.5m (approx. €207m) in cash for bmi. The price is subject to certain reductions. Both parties aim for a closing of the transaction by the end of the first quarter 2012.
Virgin America reported its financial results for the third quarter of 2011. During a period of significantly higher fuel prices, Virgin America reported a $16.2m operating profit for the quarter, resulting in a 6% operating margin. The airline achieved strong revenue growth, with a 44%increase in operating revenue as compared to the third quarter of 2010. Virgin America reported a $3.3
International Lease Finance Corporation (ILFC) has priced, and entered into an agreement to issue and sell, subject to certain conditions, $650,000,000 aggregate principal amount of 8.625% senior notes due 2022 (the “Notes”) pursuant to an effective registration statement filed on August 7, 2009 with the Securities and Exchange Commission. ILFC expects to close the offering
Etihad Airways, the national airline of the United Arab Emirates, has agreed to increase its stake in airberlin, Europe’s sixth largest airline, to 29.21%, becoming airberlin’s largest single shareholder. The strategic move, announced December 19th in Berlin by Etihad Airways Chief Executive Officer James Hogan and airberlin CEO Hartmut Mehdorn, connects the airlines’ extensive networks and frequent
FedEx Corp. reported consolidated revenues of $10.59bn for the 2nd quarter, up 10% from $9.63bn the previous year. Operating income was $780m, up 66% from $469m last year, while operating margin was 7.4%, up from 4.9% the previous year. Net income was $497m, up 76% from $283m a year ago. FedEx projects earnings to be $1.25 to $1.45 per diluted
