Willis Lease Finance Corporation (WLFC), reported earnings of $1.6m in the first quarter ended March 31, 2013, compared to $2.5m in the like quarter a year ago, with the drop in earnings primarily due to reduced gains on the sale of leased equipment. In the fourth quarter of 2012, Willis Lease recorded a loss of
The sale of Widerøe represents an important step in the improvement of SAS’ financial position with a significant reduction of SAS’ financial leverage. SAS and Widerøe will have a continued close commercial cooperation after the transaction, with Widerøe remaining an important regional partner to SAS. As part of the transaction, SAS will sell seven Dash
Air Canada reported an adjusted net loss of $143m compared to an adjusted net loss of $162m in the first quarter of 2012. On a GAAP basis, Air Canada’s net loss was $260m compared to a net loss of $274m in the same quarter in 2012. First quarter EBITDAR amounted to $145m compared to EBITDAR
Erickson Air-Crane, a leading global provider of aviation services to a diverse mix of commercial and government customers and the vertical manufacturer and operator of the powerful, heavy-lift helicopter, the Erickson S-64 Aircrane, has entered into a new $100m, five-year revolving credit facility with a group of financial institutions led by Wells Fargo Bank, N.A.
Spirit AeroSystems Holdings reported first quarter 2013 financial results reflecting continued strong demand for large commercial aircraft and strong core program operating performance. Spirit’s first quarter 2013 revenues were $1.442bn, up 14% from $1.266bn for the same period of 2012, driven by higher production volumes and model mix. Operating income was $145m, up from $122m
Aircastle reported first quarter 2013 total revenues of $176.2m, an increase of $11.3m, or 7% versus the previous year. The increase reflects $8.2m of higher lease rental and finance lease revenues, $4.2m of higher maintenance revenues associated with unscheduled lease terminations, and $4.3m of higher other revenues from interest on debt investments and additional revenue
Rolls-Royce has acquired Hyper-Therm High Temperature Composites (Hyper-Therm HTC, Inc), a producer of state-of-the-art composite materials, including ceramic matrix composites (CMCs), engineered coatings and thermal-structural components. Hyper-Therm HTC will become a wholly-owned subsidiary of Rolls-Royce, and will be based in Huntington Beach, California. The site will serve as the hub for technical development of CMCs,
For the first quarter 2013, Spirit Airlines’ adjusted net income was $32.8m. GAAP net income was $30.6m. For the first quarter 2013, Spirit achieved an operating margin, excluding special items, of 14.4%. Operating margin on a GAAP basis was 13.4% for the first quarter 2013. Spirit ended the first quarter 2013 with $483.5m in unrestricted
In the first quarter of 2013 (1Q13), Embraer delivered 17 commercial and 12 executive (8 light and 4 large) jets; representing a reduction of 4 commercial and 1 executive jets delivered in the same period of 2012, firm order backlog grew to US$13.3bn, mainly as a result of an improvement in the order environment in
AWAS has closed a JOLCO (Japanese Operating Lease with Call Option) financing relating to one Airbus A320 aircraft on lease to Aeroflot Russian Airlines, with Crédit Agricole Corporate and Investment Bank (CA CIB) as overall arranger, facility agent and security trustee. The equity portion of this first JOLCO secured by AWAS was underwritten by Financial
