Woodward Governor Company has reached a definitive agreement to acquire HR Textron for approximately $365 million in cash. Under the purchase agreement, Woodward would acquire all of the outstanding capital stock of HR Textron from Textron Inc., its parent company, and the UK assets used in HR Textron’s business. HR Textron would become a wholly
Iberia reported its 2008 results to Spain
Lufthansa has submitted a public takeover offer to the shareholders of Austrian Airlines AG through
Aircastle Limited reported fourth quarter net income of $24.7 million and adjusted net income of $46.6 million. Net income for the year ended December 31, 2008 was $115.3 million and adjusted net income for the year of $150.9 million. Fourth quarter total revenues were $157.8 million, an increase of $37.1 million or 30.7% over fourth
AS Estonian Air, in which the SAS Group owns 49% of the shares, has resolved to conduct a rights offering of approximately EUR 7.3 million in order to provide for additional liquidity to fund the future cash flow and capital requirements of the company. The SAS Group will, in order to seek to protect the
Air New Zealand announced earnings before taxation of $26 million for the six-month period ended 31 December 2008, a decrease of 84% on the same period last year. Net profit after tax was $24 million, down 79%. Operating revenue increased by 3.7% or $87 million on the same period last year to $2.4 billion for
Frontier Airlines filed its Monthly Operating Report for January 2009. Frontier reported an operating profit of $2.8 million and a consolidated net loss of $27.9 million for the month. Excluding reorganization items and mark-to-market fuel hedge transactions, Frontier would have reported an operating loss of $0.4 million and a consolidated net loss of $2.8 million.
AerCap recorded a fourth quarter 2008 net loss of $19.0 million. Included in the fourth quarter 2008 Net loss amount were charges relating to the mark-to-market of interest rate Caps and share-based compensation of $37.7 million, net of tax. The after-tax charge relating to the mark-to- market of the interest rate caps was $35.9 million
Atlas Air Worldwide Holdings announced for the quarter ended December 31, 2008, net income of $62.3 million on revenues of $335.0 million and pretax earnings of $103.5 million. For the full year, AAWW posted net income of $63.7 million on revenues of $1.607 billion and pretax earnings of $113.9 million.
Air France Industries and Hangxin Aviation Engineering Group made a new strategic move in China. Within the context of the ongoing economic crisis, AFI KLM E&M reviewed the key elements of its presence and perspectives in the Chinese MRO market. As a result of the review, Hangxin Aviation Engineering Group and Air France Industries initialed
