Hong Kong Aircraft Engineering Company (HAECO) has entered into a conditional stock purchase agreement for the acquisition of TIMCO Aviation Services for a cash consideration of US$388.8m, subject to closing adjustments. TIMCO is a U.S. based provider of aircraft maintenance, repair and other services. The Seller is a company controlled by investment vehicles managed by
Elite Aviation, the premier global private jet company, has closed a $50m growth capital commitment to be used strategically across multiple fronts to substantially expand the company’s global footprint. In addition to a very significant fleet expansion, Elite Aviation will go “on the hunt” for geographically strategic acquisitions as well as companies complementary to its
Boeing reported third-quarter core earnings per share (non-GAAP) increased 16% to $1.80, driven by strong performance across the company’s businesses. Third-quarter core operating earnings (non-GAAP) increased 20% to $2.1bn from the same period of the prior year. Third-quarter revenue was $22.1bn, GAAP earnings from operations was $1.8bn and earnings per share was $1.51. Core earnings
B/E Aerospace reported third quarter 2013 revenues of $888.1m, an increase of $121.4m, or 15.8%, as compared with the prior year period. Third quarter 2013 operating earnings were $160.1m, an increase of 19.2%, and operating margin of 18.0% increased 50 basis points as compared to the prior year period. Acquisition, integration and transaction (AIT) costs
US Airways Group reported its third quarter 2013 financial results. For the third quarter 2013, pretax profit excluding net special items was a record $367m, a $174m, or 90%, year-over-year improvement. On a GAAP basis, the Company reported a third quarter pretax profit of $336m, up from $246m in 2012. The GAAP net profit for
In the first nine months of 2013, MTU Aero Engines recorded a 13% rise in revenues to €2,778.1m (1-9/2012: € 2,468.0m). The company generated an operating profit of €270.5m (1-9/2012: €278.0m) with an operating margin of 9.7% (1-9/2012: 11.3%). Net income amounted to €166.3m after €173.1m in the equivalent period last year. “With the results
Delta reported that net profit for the September 2013 quarter was $1.2bn, excluding special items. This result is a $444m improvement year-over-year. Including $157m in special items, Delta’s GAAP net income was $1.4bn. The company began returning capital to shareholders, with $100m in share repurchases and $51m in dividend payments. September quarter results include $249m
Honeywell reported for the aerospace segment, that sales were down (2%) compared with the third quarter of 2012 driven by an (11%) decline in Defense & Space sales as a result of planned ramp downs and program delays, as well as supply chain constraints, partially offset by Commercial growth. Commercial OE sales were up 3%
Global Eagle Entertainment has acquired Travel Entertainment Group Equity, the UK-based parent company of IFE Services Limited (IFE Services) from GCP Capital Partners for approximately $36m in cash. IFE Services is a leading provider of in-flight entertainment services to airlines and cruise lines worldwide. The acquisition expands Global Eagle’s leadership in delivering content and software
AMR Corporation reported net profit of $530m, excluding reorganization and special items, a $420m improvement year-over-year; Revenue of $6.8bn improved 6.2% year-over-year, while consolidated unit costs, excluding fuel and special items, improved 5.0% year-over-year. AMR ended the third quarter with approximately $7.7bn in cash and short-term investments, including restricted cash, compared to a balance of
