AAR reported second quarter fiscal year 2012 consolidated sales of $475.9m and income from continuing operations of $17.5m. Results for the second quarter include $1.4m of transaction-related expenses for acquisitions announced during the second quarter. For the second quarter of the prior fiscal year, the Company reported sales of $440.5m and income from continuing operations
Jackson Square Aviation (“JSA”) has closed a $435m secured term loan, which provides the Company with committed long-term debt capacity for eleven next-generation aircraft. Financing for the facility was provided by DVB Bank SE, Norddeutsche Landesbank, and Citibank. “This is something of a landmark deal for our company,” commented Scott Weiss, JSA’s Chief Operating Officer
One of the largest aviation business groups in Eastern Europe, Avia Solutions Group AB, transferred its entire controlling package of shares (95.5%) in Small Planet Airlines AS (Estonia) to Brova Air OU. Following the transaction the name of the company will be changed to North Wind Airlines AS. According to Linas Dovydenas, CEO of Avia
Delta Air Lines and GOL Linhas Aereas Inteligentes announced an agreement for a long-term exclusive commercial alliance. Under the agreement, Delta and GOL, which has a 40% market share in Brazil , will expand cooperation to leverage each other’s strengths and further link Delta’s expansive network with one of Brazil ‘s largest and most successful airlines.
AAR CORP. has completed the acquisition of Telair International GmbH (Telair) and Nordisk Aviation Products, AS (Nordisk) from Teleflex Incorporated, which the Company announced on October 21, 2011. “This acquisition significantly adds to AAR’s commercial manufacturing business and elevates our position as a tier-1 provider to the global aerospace market,” said David P. Storch ,
Bombardier reported its financial results for the third quarter ended October 31, 2011. Revenues increased to $4.6bn, compared to $4bn last fiscal year. Earnings before financing income, financing expense and income taxes (EBIT) totalled $301m, compared to $250m last fiscal year, while the EBIT margin reached 6.5%, compared to 6.3% last year. Net income amounted
Astronics Corporation, a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries, has acquired privately-held Ballard Technology, an Everett, WA company that designs and produces avionics interface solutions for defense and commercial aerospace applications. Astronics acquired all of the stock of Ballard for $24m in cash. An
AMR Corporation, the parent company of American Airlines and American Eagle, filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York. AMR’s Board of Directors determined that a Chapter 11 reorganization is in the best interest of the Company and its stakeholders. The chapter 11 process enables American Airlines
IAI’s sales reached $817m in the 3rd quarter of 2011, a growth of 18% compared with the same quarter in 2010. Back orders reached $9bn, at the same level as the preceding quarters. 83% of the back orders are earmarked for export. IAI reported a $59m profit from ordinary acivities and net profit of $3m
Jackson Square Aviation (“JSA”) has closed a $265m secured credit facility, which provides the company with committed long-term debt capacity. This facility provides JSA with a vital financing source to acquire modern, fuel-efficient aircraft for lease to its airline customers. JSA will finance eight aircraft currently owned or in its committed pipeline, for delivery through 2012. The facility is
