Financial

Etihad Airways, the national carrier of the United Arab Emirates, reported full year EBIT of US$137m, on revenues up 36% to US$4.1bn (2010: US$2.98bn). The results included earnings before interest, tax, depreciation, amortisation and rentals (EBITDAR) of US$648m  with a net profit of US$14m. The record result exceeded the airline’s 2011 target, which was to break even.

FLY Leasing has signed an extension of its credit facility with Norddeutsche Landesbank Gironzentrale (Nord LB). The facility was set to mature in November 2012 and has been extended until 2018. As of December 31, 2011 the outstanding balance of the facility was $598m. FLY has 109 aircraft on lease to 53 airlines around the

Air Canada reported a net loss of $60m in the fourth quarter of 2011, which included foreign exchange gains of $114m, compared to net income of $89m in the fourth quarter of 2010, which included foreign exchange gains of $136m, an impairment charge on aircraft of $49m  and a net favourable adjustment to the provision

Spirit released that operating income for the fourth quarter 2011 was $102m, compared to $96m for the same period in 2010, primarily driven by increased production volumes, partially offset by the charges recorded on development programs. Net income for the quarter was $60m compared to $62m in the same period of 2010. Revenue for the full-year

In the fourth quarter of 2011, Finnair’s turnover increased by 11.7% (12.9%) year on year and totalled €577.4m (516.9). The group’s operational result, excluding non-recurring items, capital gains and changes in the fair value of derivatives and in the value of foreign currency-denominated fleet maintenance reserves, was €-31.6m (-6.7). The operating result was €-30.1m (-4.7). The result

For the period of January-December 2011, the SAS Group’s income before tax and nonrecurring items and capital gains/losses in continuing operations amounted to MSEK 94 (-444) and net income amounted to MSEK -1,687 (-2,218). The SAS Group’s revenue amounted to MSEK 41,412 (41,070). After taking nonrecurring items and currency effects into consideration, revenue increased by

WestJet released its fourth quarter and year-end results for 2011. The airline reported fourth quarter net earnings of $35.6m, down 4.3% compared to 2010 and full-year net earnings of $148.7m, up from the net earnings of $90.2m reported for 2010. WestJet’s operating cash flow per share for the full-year 2011 was $3.60, an increase of

Astronics Corporation released that sales in the fourth quarter of 2011 were $61.2m up 18.0%, from the prior year fourth quarter. Aerospace sales, which represented approximately 95.2% of total fourth quarter sales, increased 24.5% over the prior year period to $58.2m. For the full year 2011 sales were $228.2m up 16.6% from the same period last year.

International Lease Finance Corporation (ILFC), released that it intends to raise a new senior secured term loan of $900m. ILFC plans to use proceeds of the new term loan to repay a portion of the Company’s outstanding debt and related interest expense, to pay related fees and expenses for the transaction, and for general corporate purposes.