Virgin America reported its financial results for the second quarter of 2012. Total operating revenue for the second quarter grew by 29% to $347m on a capacity increase of 32%. The Company narrowed its operating loss to $4m for the second quarter, and improved earnings before interest, depreciation and amortization, and aircraft rental expense (EBITDAR)
Air Lease Corporation reported that it intends to offer an aggregate of $300m principal amount of senior unsecured notes due 2016, in an offering exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The Notes will be offered only to qualified institutional buyers and non-U.S. persons outside of the United
BOC Aviation has established a US$2bn Euro Medium Term Note programme (EMTN Programme) that will be listed on the Singapore Exchange Securities Trading Limited (SGX-ST). Admission to the official list of the SGX-ST and quotation of any notes on the SGX-ST is not to be taken as an indication of the merits of BOC Aviation,
TransDigm Group Incorporated has completed the acquisition of Aero-Instruments Co., for approximately $35m in cash. Aero, located in Cleveland, Ohio, employs approximately 60 people and has been a supplier of proprietary, highly engineered components to the aerospace industry since 1925. Aero designs and manufactures highly engineered air data sensors including pitot probes, pitot-static probes, static
ST Aerospace reported that its 51%-owned subsidiary, Singapore British Engineering (SBE), has commenced Members’ Voluntary Winding Up. SBE, a joint venture between ST Aerospace and BAE Systems, was set up for the marketing of BAE Systems’ avionics and defence products in Singapore. Shareholders of SBE approved the appointment of Andrew Grimmett and Lim Loo Khoon
Willis Lease Finance Corporation (WLFC), a leading lessor of commercial jet engines, increased its revolving credit facility to $430m from $345m. The credit facility, with an interest rate equal to the one-month LIBOR plus 2.50%, is available to Willis Lease on a revolving basis for the next four years through November 2016. This and other
Small Planet Airlines released that revenue during the first half of 2012, was 43% higher than the prevous year. The company’s revenue in Lithuania alone increased by 25%, compared to the first half in 2011. This year the company has been also actively carrying passengers from the United Kingdom where it keeps two of its
Bristow Group, a leading provider of helicopter services to the worldwide offshore energy industry, and Cougar Helicopters, the largest offshore energy and search and rescue (SAR) helicopter service provider in Canada, jointly announced that Bristow has entered into a definitive agreement with Cougar’s parent VIH Aviation Group and various VIHAG affiliates to acquire a minority
Israel Aerospace Industries announced the publication of its consolidated financial statements for Q2, ending June 30, 2012. Company’s sales for Q2 2012 reached $808m, compared to $938m in Q2 2011. Export sales represent 80% of total sales and reached $645m. Military market sales represent 75% of total sales and reached $603m. The decrease in sales
DVB tapped the financial market with a five-year €500m transaction. This was the Bank’s second euro-denominated senior unsecured benchmark issue in 2012, following its inaugural three-year €500m benchmark transaction in May. Wolfgang F. Driese, CEO and Chairman of the DVB’s Board of Managing Directors, commented: “This very successful transaction highlights DVB’s strong recognition in the
