Delta’s net profit for the March 2013 quarter was $85m, excluding special items. This result is a $124m improvement year-over-year. Including $78m in special items, Delta’s GAAP net income was $7m. Results include $20m of profit sharing expense in recognition of Delta employees’ contributions to the company’s financial performance. Delta generated $1.1bn of operating cash
US Airways Group reported its first quarter 2013 financial results. For the first quarter 2013, net profit excluding net special items was a record $55m, compared to a net loss, excluding net special items, of $22m for the first quarter 2012. On a GAAP basis, the Company reported a net profit of $44m for its
Safran has reached an agreement with Rolls-Royce to acquire Rolls-Royce’s 50% share in their joint RTM322 helicopter engine programme. Upon closing, Turbomeca (Safran’s helicopter engine business) will assume global responsibility for the design, production, product support and services for the RTM322 engine, a 2,100-2,600 shp engine family equipping the Apache, EH101 and NH90 helicopters. Rolls-Royce
TransDigm Group and Aerosonic announced a definitive merger agreement, providing for Aerosonic to become an indirect wholly-owned subsidiary of TransDigm. TransDigm and Aerosonic both design, manufacture and supply highly engineered aircraft components. Under the terms of the agreement, TransDigm will offer to acquire all of the outstanding shares of Aerosonic for $7.75 per share in
B/E Aerospace announced first quarter 2013 financial results. First quarter 2013 revenues of $842.2m increased $94.9m, or 12.7%, as compared with the prior year period. First quarter 2013 operating earnings were $153.6m, an increase of 18.3%, and operating margin of 18.2% increased 80 basis points as compared to the prior year period. The growth in
Finnair has sold its entire holding of 1,649,862 shares, representing 4.69% of total shares, in Norwegian Air Shuttle ASA (Norwegian). The shares were sold for approximately €53m and Finnair’s capital gain for the transaction totalled approximately €34m. It will be recorded as financial income in Finnair’s second quarter 2013 accounts. Finnair’s holding in Norwegian was
In the first quarter 2013, AMR reported a net profit of $8m, excluding reorganization and special items, a $256m improvement compared to the prior-year period. AMR incurred a GAAP net loss of $341m versus a GAAP net loss of $1.7bn in the first quarter of 2012. First quarter results were negatively impacted by $349m of
Southern Air has emerged from Chapter 11, having completed its financial restructuring. Daniel J. McHugh, Southern Air CEO, said, “We have emerged from this restructuring process with substantially less debt, significantly improved operations and resources, and financial flexibility as a well-capitalized global air cargo carrier. Today, we are well-positioned both financially and operationally to continue
Aircell has completed its acquisition of the Airfone business unit of LiveTV, LLC, a wholly-owned subsidiary of JetBlue Airways Corporation. The agreement includes LiveTV’s 1 MHz air-to-ground spectrum license, as well as the Airfone in-flight communications service, network infrastructure and back-office operational assets. With a history dating back to the 1970’s, the Airfone service currently
Exchange Income Corporation completed its acquisition of Regional One, a privately-owned US company that is a leading provider of aircraft and engine aftermarket parts to regional airline operators around the world. The acquisition was first announced on February 28, 2013. The Corporation paid a total purchase price of $74.2m, of which $13.5m was paid through
