The Boeing Company reported first-quarter net income rose to $0.9bn, up 58% compared to the same period last year, on revenue of $19.4bn up 30% compared to the previous year. Earnings per share rose 56%, reflecting continued strong core performance across the company’s businesses, which more than offset higher pension expense. The results also include
Lufthansa has completed the sale of British Midland (bmi) to International Airlines Group (IAG). The completion of the sale took place after close of business on 19th April 2012. The gross purchase price amounts to GBP 172.5m (approx. €207m). Because price adjustments were agreed as part of the transaction structure, the net purchase price will
International Lease Finance Corporation (ILFC) has closed a $203 million bank loan arranged and underwritten by DVB Bank. ILFC will use the financing for the acquisition of seven new aircraft delivering in 2012. The financing is for six years and is at an average rate of approximately 4.7%.
B/E Aerospace reported first quarter 2012 revenues of $747.3m, an increase of $147.1m as compared with the same period of the prior year. Pro forma revenue growth, giving effect to all 2011 and 2012 acquisitions as if they had occurred on January 1, 2011, was 16.9%. First quarter 2012 operating earnings increased 29.7% on the
Alaska Air Group reported first quarter 2012 GAAP net income of $40.8m, compared to GAAP net income of $74.2m in 2011. Excluding mark-to-market fuel hedge gains of $19.9m ($12.5m after tax), the company reported first quarter 2012 net income of $28.3 million, compared to net income excluding special items of $29.5m in 2011.
For the first quarter ended March 31st, 2012, AMR incurred a net loss of $1.7bn compared to a net loss of $436m in the same period of 2011. Excluding reorganization and special items, the net loss was $248m compared to the net loss of $405m for first quarter 2011. AMR recorded first quarter 2012 consolidated
Indra has bought 100% of the shares in the air traffic management systems company Park Air Systems Norway, from its owner Northrop Grumman Denmark. The transaction values Park Air Systems’ Norway business at an enterprise value of €42m. Park Air Systems Norway’s global consolidation into Indra, expected by May, increases Indra’s 2012 revenues growth target
International Lease Finance Corporation (ILFC) has closed a new $550m senior secured term loan. The loan will bear interest at LIBOR plus 3.75% per annum with a LIBOR floor of 1.0%, and is priced at 99.5% of par value. It will be secured primarily by a first priority perfected lien on the equity of certain
Cytec Industries announced its firm intention to acquire all of the outstanding shares of Umeco plc (‘Umeco’), an international provider of advanced composite materials, in an all-cash transaction valued at approximately $439m (£274.3m based on a 1.60 exchange rate). The board of directors of Umeco intends to unanimously recommend the transaction to Umeco shareholders. The
L-3 Communications has entered into an agreement to acquire the assets of Thales Training & Simulation Ltd’s civil aircraft simulation and training business. The purchase price is £83m (approximately $132m) and will be funded with cash on hand. Headquartered in Crawley, United Kingdom, the business employs approximately 400 people. It is a leading manufacturer of
