Air Seychelles, the national airline of the Republic of Seychelles, reported a net profit of US$1m for the 2012 financial year. The positive result comes just 12 months after Etihad Airways acquired a 40 per cent stake in the airline and was awarded a five year management contract. The profit follows three years of significant
Southern Air has received confirmation of its “pre-arranged” Plan of Reorganization (Plan) from the U.S. Bankruptcy Court in Wilmington, Delaware, which has been overseeing the Company’s Chapter 11 proceedings following its voluntary filing on September 28, 2012. The Plan received substantial support from key secured creditors as well as unsecured creditors. The confirmation clears the
AeroCentury an independent aircraft leasing company, reported its operating results for the fourth quarter and the year ended December 31, 2012. The Company reported net income of $1.8m for the fourth quarter of 2012, compared to net income of $1.2m for the fourth quarter of 2012. The Company reported net income of $5.2m for the
Braathens Aviation has successfully completed a SEK 300m senior unsecured bond issue in the Nordic bond market with maturity in March 2018. The bond carries an interest of 3-month STIBOR plus 5.75%. An application will be made for the bonds to be listed on the Oslo ABM. The proceeds from the bond issue will be
Willis Lease Finance Corporation reported that following a $15.5m pre-tax charge for extinguishment of debt and derivatives termination and a $2.8m charge related to the redemption of its preferred stock at par value, it lost $3.8m in 2012, compared to earnings of $11.4m in 2011. In the fourth quarter of 2012, net income was $2.2m
American Airlines, the principal operating subsidiary of AMR Corporation, reported the closing of its private offering of two tranches of enhanced equipment trust certificates (the “Certificates”) in the aggregate face amount of $663,378,000. The Certificates are comprised of a senior tranche of Class A Certificates with an interest rate of 4.000% per annum and a
During the 4th quarter of 2012 (4Q12), Embraer delivered 23 commercial and 53 executive aircraft and ended the year with total deliveries of 106 commercial and 99 executive aircraft (77 light jets and 22 large jets). As a consequence, 2012 revenues totaled US$6,177.9m, in line with the annual revenue guidance range of US$ 5.8 to
The HAECO Group reported an attributable profit of HK$876m in 2012, 6.7% higher than that of HK$821m in 2011. Earnings per share increased by 6.7% to HK$5.27. Turnover increased by 12.7% to HK$5,830m. The Directors have declared a second interim dividend (in lieu of a final dividend) of HK$2.00 per share. Together with the first
Hong Kong Aircraft Engineering Company (“HAECO”) has acquired an additional 26% shareholding in Shanghai Taikoo Aircraft Engineering Services Company (“STA”), increasing the HAECO Group’s equity interest to 75%. The remaining 25% shareholding in STA, a provider of line maintenance services in Shanghai, continues to be held by Shanghai Foreign Aviation Service Corporation. STA currently provides
DVB increased total income before allowance for credit losses by 5.1%, to €411.9m (previous year: €391.9m). Total income after allowance for credit losses amounted to €341.2m, which corresponds to a rise of 2.6%. Net interest income after allowance for credit losses declined by 20.0%, to €159.3m (2011: €199.1m) in spite of successful new business origination;
