Virgin Australia reported a statutory net profit after tax of $51.8m an improvement of 118% on the prior corresponding period. Underlying net profit before tax amounted to $96.1m, which is a 34.4% improvement. Virgin Australia reported a total revenue increase of 18% to $2.0bn, liquidity improved significantly with $506m of unrestricted cash, and $851m total
International Lease Finance Corporation (ILFC) has closed a new senior secured term loan of $900m. The loan will bear interest at LIBOR plus 400 basis points with a 1% LIBOR floor, and is priced at 99% of par value. The collateral used to support the transaction has an initial weighted average age of 13.4 years.
MTU Aero Engines fully achieved its forecast for the financial year 2011, as the company announced during the presentation of its provisional financial statements at the annual results press conference on Thursday, February 23, 2012. Revenues were at the upper end of the expected bandwidth of + 7 to 8%, increasing by 8% to reach
The prospectus for the “Doric Aviation Bonds I” was approved for publication by the Commission de Surveillance du Secteur Financier of Luxembourg on 17th February 2012, marking the start of the syndication phase of the bonds. The securities will be issued by Doric Capital SA, a Luxembourg based company, and are expected to be listed
AerCap Holdings N.V. released that the shareholders of Dragon Aviation Leasing, its Chinese aircraft operating lease joint venture, have agreed to increase the issued share capital of the venture by up to $40m. The future share issues will be made in portions aligned to individual aircraft acquisitions. The venture comprises Dragon Aviation Leasing Company Limited, based
Kingfisher Airlines reported a 4.44bn rupees loss in the third quarter that ended in December 2011, compared to a loss of 2.54bn rupees the previous year. Kingfisher lost 11.8bn rupees in the first nine months of the current fiscal year that ends in March 2012, a 35% rise from the previous year. Revenue in the third quarter fell 15.2%
The Qantas Group reported net profit of A$42m ($45m) for the six months ended December 2011, down from A$241m during the same period in 2010. The company said that last years strikes cost it A$194m, while fuel costs surged 26% to A$2.2bn during the period.
AMR Corporation, the parent company of American Airlines, recorded consolidated net loss of $1.1bn for the fourth quarter of 2011 compared to a consolidated net loss of $97m in the fourth quarter of 2010. AMR recorded fourth quarter 2011 consolidated revenues of approximately $6.0bn, an increase of 7.4% year-over-year. For fiscal 2011, AMR recorded a
SkyWest, Inc. reported operating revenues of $899.9m for the quarter ended December 31, 2011, compared to $796.3m for the same period last year. SkyWest also reported a net loss of $18.0m for the quarter ended December 31, 2011, compared to $37.2m of net for the same period last year.
Spirit Airlines reported fourth quarter 2011 and full year 2011 financial results. Net income for the fourth quarter 2011 was $24.0m compared to $9.6m in 2010. Full year pro forma adjusted net income was $95.5m, full year 2011 GAAP net income was $76.4m. EBITDAR for the fourth quarter 2011 was $70.7m, resulting in an EBITDAR
