AMR Corporation the parent company of American Airlines reported a net loss of $390 million for the second quarter of 2009. The results include the impact of approximately $70 million in non-recurring charges related to the sale of certain aircraft and the grounding of leased Airbus A300 aircraft prior to lease expiration. Excluding those non-recurring
Boeing has agreed to acquire the business and operations conducted by Vought Aircraft Industries at its South Carolina facility, where Vought builds a key structure for Boeing’s 787 Dreamliner airplane. The Vought facility, located in North Charleston, performs fabrication and assembly of structures and systems installation of 787 aft fuselage sections, which are made primarily
Having already fulfilled its ambitious package of short-term measures designed to generate savings of EUR 225 million this year, the management of Austrian Airlines is now confronting the challenge of improving the company
Deutsche Lufthansa AG successfully placed another benchmark bond, the second this year, on 1 July 2009. With the issue, the Group is acquiring additional liquidity for general corporate financing purposes. The bond has a volume of 750 million euros and a maturity of seven years. It has a fixed coupon of 6.5 per cent. It
AerCap Holdings N.V. announced that it has signed a $221 million funding facility with HSH Nordbank AG covering the pre-delivery payments for ten new Airbus A330 aircraft. This funding facility completes AerCap’s remaining pre-delivery payment requirements for its 30 A330 aircraft order. This order was placed in 2006/2007 with deliveries scheduled until 2012. Keith Helming,
Bombardier announced that it has closed a $600 million Letter of Credit Facility agreement with a syndicate of first quality financial institutions, mainly North American-based. This facility, which was oversubscribed, is dedicated to supporting Bombardier Aerospace
The ITP Group achieved sales of over EUR 483 million in 2008, which represents a 15% increase on the same figure for the previous year, in accordance with the IFRS (International Financial Reporting Standards) accounting model. The Group
Air Canada said that it has concluded a secured revolving loan agreement with Aeroplan Canada which will provide the airline with up to CAD $100 million and assist with its liquidity requirements. Subject to the terms of the agreement, amounts are available for drawdown until June 30, 2010 and are equal to the aggregate of
United Air Lines announced the pricing of its offering of $175 million in aggregate principal amount of senior secured notes due 2012. The notes were issued at a discount to their face value, and will carry a coupon interest rate of 12.75% per annum. The notes will be secured initially by a lien on all
Pratt & Whitney Power Systems has agreed to purchase a majority interest in Turboden S.r.l. (Turboden), an Italian manufacturer of high efficiency turbogenerator systems. Terms of the transaction were not disclosed.
