Deutsche Lufthansa AG and International Airlines Group (IAG) have signed a binding agreement for the sale of British Midland Limited (bmi) to IAG. The price is £172.5m (approx. €207m) in cash for bmi. The price is subject to certain reductions. Both parties aim for a closing of the transaction by the end of the first quarter 2012.
Virgin America reported its financial results for the third quarter of 2011. During a period of significantly higher fuel prices, Virgin America reported a $16.2m operating profit for the quarter, resulting in a 6% operating margin. The airline achieved strong revenue growth, with a 44%increase in operating revenue as compared to the third quarter of 2010. Virgin America reported a $3.3
International Lease Finance Corporation (ILFC) has priced, and entered into an agreement to issue and sell, subject to certain conditions, $650,000,000 aggregate principal amount of 8.625% senior notes due 2022 (the “Notes”) pursuant to an effective registration statement filed on August 7, 2009 with the Securities and Exchange Commission. ILFC expects to close the offering
Etihad Airways, the national airline of the United Arab Emirates, has agreed to increase its stake in airberlin, Europe’s sixth largest airline, to 29.21%, becoming airberlin’s largest single shareholder. The strategic move, announced December 19th in Berlin by Etihad Airways Chief Executive Officer James Hogan and airberlin CEO Hartmut Mehdorn, connects the airlines’ extensive networks and frequent
FedEx Corp. reported consolidated revenues of $10.59bn for the 2nd quarter, up 10% from $9.63bn the previous year. Operating income was $780m, up 66% from $469m last year, while operating margin was 7.4%, up from 4.9% the previous year. Net income was $497m, up 76% from $283m a year ago. FedEx projects earnings to be $1.25 to $1.45 per diluted
AAR reported second quarter fiscal year 2012 consolidated sales of $475.9m and income from continuing operations of $17.5m. Results for the second quarter include $1.4m of transaction-related expenses for acquisitions announced during the second quarter. For the second quarter of the prior fiscal year, the Company reported sales of $440.5m and income from continuing operations
Jackson Square Aviation (“JSA”) has closed a $435m secured term loan, which provides the Company with committed long-term debt capacity for eleven next-generation aircraft. Financing for the facility was provided by DVB Bank SE, Norddeutsche Landesbank, and Citibank. “This is something of a landmark deal for our company,” commented Scott Weiss, JSA’s Chief Operating Officer
One of the largest aviation business groups in Eastern Europe, Avia Solutions Group AB, transferred its entire controlling package of shares (95.5%) in Small Planet Airlines AS (Estonia) to Brova Air OU. Following the transaction the name of the company will be changed to North Wind Airlines AS. According to Linas Dovydenas, CEO of Avia
Delta Air Lines and GOL Linhas Aereas Inteligentes announced an agreement for a long-term exclusive commercial alliance. Under the agreement, Delta and GOL, which has a 40% market share in Brazil , will expand cooperation to leverage each other’s strengths and further link Delta’s expansive network with one of Brazil ‘s largest and most successful airlines.
AAR CORP. has completed the acquisition of Telair International GmbH (Telair) and Nordisk Aviation Products, AS (Nordisk) from Teleflex Incorporated, which the Company announced on October 21, 2011. “This acquisition significantly adds to AAR’s commercial manufacturing business and elevates our position as a tier-1 provider to the global aerospace market,” said David P. Storch ,
