Israel Aerospace Industries (IAI) reported sales for Q3 2012 of $751m compared to $817m in Q3 2011. Export sales represent 76% of total sales and reached $568m. Sales to the military sector represent 72% of total sales and reached $540m. The decrease in sales is attributed to a reduction in the scope of activity mainly
US Airways reported that it priced an offering of two classes of enhanced equipment trust certificates in the aggregate face amount of approximately $546m. The Company intends to use the proceeds from the offering to finance its purchase of eleven Airbus aircraft scheduled to be delivered from May 2013 to October 2013 and to use
ST Aerospace released that it has, through its wholly owned subsidiary, ST Aerospace Engines (STA Engines), injected an additional US$1.725m (approximately S$2.1m) into the capital of 50%-owned associated company, Total Engine Asset Management (TEAM). This brings STA Engines’ total share capital contribution in TEAM to US$3.425m (approximately S$4.18m). A joint venture between ST Aerospace and
ACE Aviation Holdings released third quarter results for 2012. In the third quarter of 2012, ACE recorded an increase in net assets in liquidation of $8m. This increase is primarily due to the increase in the market value of the shares of Air Canada held by ACE as at the end of the third quarter
Aircastle Limited plans to offer an aggregate of $400m principal amount of its senior notes due 2019. The notes will be offered only to qualified institutional buyers and outside the United States in accordance with Rule 144A and Regulation S, respectively, under the Securities Act of 1933, as amended. Aircastle plans to use the net
Kaman Corporation has closed on a new five-year $500m credit facility replacing its prior $317.5m credit facility. The facility includes a collateralized security agreement and carries a standard financial covenant package, which the company believes reflects current market terms and conditions. The facility consists of a $400 million revolving credit facility and a term loan
During the third quarter of 2012, AviancaTaca Holding S.A, reported operating income of US$1.1075bn. This is equivalent to an increase of 8.1% with respect to the same period of 2011, removing the non-recurring revenue for expired tickets recorded in the third period of 2011. Operating profit reached US$116.6m. EBITDAR (earnings before interest, tax, depreciation, amortization
Cargolux Airlines International confirmed that Qatar Airways intends to exit its 35% shareholding in Cargolux. Albert Wildgen, who joined the Cargolux Board of Directors on September 8th 2011, also announced his decision to step down from his post as Chairman at the next meeting of the Board of Directors on 30 November 2012. Notwithstanding these
airberlin, Germany’s second-largest airline company, significantly improved its net income for the traditionally strong third quarter, in comparison with the previous year. At the same time, it was able to offset strongly increasing external cost through the successful efficiency-improvement program “Shape & Size”, which will lead to an improvement of €230m in operations this year.
ACE Aviation Holdings (ACE) has sold to Cormark Securities, as investment dealer, a total of 31m shares of Air Canada and 2.5m warrants to purchase Air Canada shares at exercise prices of $1.51 (1.25m warrants) and $1.44 (1.25m warrants), for total net proceeds to ACE of approximately $58m. As a result, ACE no longer holds
