AMR Corporation reported a third quarter net profit of $110m, excluding reorganization items and special charges – a $272m improvement compared to the prior year period. In the third quarter of 2012, AMR incurred a net loss of $238m compared to a net loss of $162 million in the same period of 2011. AMR reported
Safran has entered into a definitive agreement with Goodrich Corporation to acquire the electrical power systems activities of Goodrich (Goodrich Electric Power Systems – GEPS), a leading supplier of on-board aerospace electrical power systems. These activities are expected to generate revenues of over USD 200m in 2012, of which the aftermarket business (spares and MRO
International Lease Finance Corporation, a wholly owned subsidiary of American International Group (AIG), announced today that it has entered into a new $2.3bn committed unsecured revolving credit facility, replacing its $2.0bn unsecured revolving credit facility entered into in January 2011. The new facility, which is available for general corporate purposes, further enhances the company’s strong
HEICO Corporation released that its Flight Support Group has acquired 80.1% of the assets and certain liabilities of Action Research Corporation of Greer, SC. Financial terms were not disclosed, but HEICO stated that it expects the acquisition to be accretive within the first year after the closing. Action Research Corporation (ARC) is an FAA-Approved Repair
The National Bank of Abu Dhabi (NBAD) and aircraft manufacturer Boeing have signed an agreement to develop aircraft financing and leasing opportunities of mutual benefit in the Middle East market. The memorandum of understanding effective immediately represents a landmark collaborative effort aimed at increasing investment opportunities for financial institutions in the UAE and the broader
Air Lease Corporation announced the closing of its previously announced offering of an additional $50m aggregate principal amount of 4.50% senior unsecured notes due 2016 (the “Additional Notes”). The Additional Notes were sold at par plus accrued interest from September 26, 2012 in response to market demand following the Company’s completion of its offering of
Triumph Group reported that net sales for the first quarter of fiscal year ending March 31, 2013, totaled $887.7m, a 5% increase from last year’s first quarter net sales of $845.1m. Organic sales growth for the quarter was 5%. Income from continuing operations for the first quarter of fiscal year 2013 was $76.3m, versus $50.9m
Avcorp Industries announced that it has entered into a loan agreement with Royal Bank of Canada (“RBC”) for a $12m principal amount secured debt facility (the “Debt Facility”). The Debt Facility has a three-year term and bears interest at a rate equal to RBC’s prime rate plus 0.5%. The Debt Facility is secured by a
Air Lease Corporation reported the closing of its previously announced offering of $450m aggregate principal amount of 4.50% senior unsecured notes due 2016 (the “Notes”). Due to market demand, the offering was upsized to $450m from a previously announced offering size of $300m. The Notes will mature on January 15, 2016 and will bear interest
Alaska Air Group (ALK) announced that its board of directors has approved a stock repurchase program authorizing the company to buy up to $250m of its common stock. The program does not have an expiration date, however, Air Group is targeting completion by Dec. 31, 2014. The company also announced that it will complete its
