SAS Group reported revenues of MSEK 10,616 for the third quarter of 2011 (10,776 in 2010) and income before nonrecurring items in continuing operations of MSEK 298 (384 in 2010). EBT margin before nonrecurring items in continuing operations was 2.8% (3.6% in 2010). SAS Group reported cash flow from operating activities of MSEK 232 (-470 in 2010) and income before tax of
Willis Lease Finance Corporation , a leading lessor of commercial jet engines, reported third quarter pretax profits grew 19% compared to the year ago period. Net income was $2.3m in the third quarter of 2011, compared to $3.1m in the third quarter a year ago. The current quarter’s net income was reduced by $1.3m due
Copa Holdings reported net income of US$70.3m for 3Q11, excluding special items, Copa Holdings would have reported an adjusted net income of $90.1m, a 44.3% increase over adjusted net income of US$62.5m. Operating income for 3Q11 came in at US$102.2m, a 38.2% increase over operating income of US$73.9m in 3Q10. Operating margin for the period came
For the third quarter of 2011 Aircastle reported lease rental revenue of $145.9m and EBITD of $137.6m, net income of $22.7m and adjusted net income of $15.4m. The company reported adjusted net income plus depreciation and amortization of $80.2m. During the quarter Aircastle purchased four aircraft for a total acquisition cost of approximately $210m, including two new Airbus A330s
The Company reported operating revenues of $767.9m for the quarter ended September 2011, an increase of 7.9% compared to the same period last year. The increase in revenues is primarily due to a 10.0% increase in Frontier Airlines’ unit revenues. On a GAAP basis, the Company reported net income of $9.0m for the quarter ended September 2011,
CTS Engines, a leading, independent jet engine Maintenance, Repair, and Overhaul (“MRO”) facility, announced the implementation of a $25m capital expansion program. The investment, which will be provided by parent company Neff Capital Management LLC, is expected to greatly increase both the size and scope of the company’s on-site MRO capabilities over the coming year.
Norwegian (NAS) reported third quarter 2011 operating results of 1 BNOK. This is the company’s best ever quarterly result. Third quarter revenue was up by 19.4% to MNOK 3,376.2 (2,827.9). Earnings before depreciation and leasing (EBITDAR) in the third quarter were MNOK 1,206.2 (839.9). Earnings before depreciation (EBITDA) in the third quarter were MNOK 1,001.2
International Airlines Group (IAG) and Deutsche Lufthansa AG have reached an agreement in principle for the sale of British Midland Ltd (BMI) to IAG. The sale and closing of the deal remain subject to conditions including a binding purchase agreement, further due diligence and regulatory clearances. It is envisaged that the purchase agreement will be signed in the
Lockheed Martin Corporation announced the acquisition of Sim-Industries B.V., a commercial aviation simulation company located in the Netherlands. The acquisition is a demonstration of the Corporation’s strategy to expand into closely related markets that build on core capabilities and expand their customer base. The terms of the agreement were not disclosed. Sim-Industries develops and manufactures full-motion and
Spirit AeroSystems Holdings reported third quarter 2011 financial results reflecting solid core operating performance and strong demand for large commercial aircraft. Revenues were $1.130bn, up from $1.002bn for the same period of 2010 as the company benefited from higher production deliveries during the quarter. Operating income was $121m, compared to $82m for the same period in 2010, primarily
