Delta Air Lines released that net income for the December 2010 quarter was $158 million excluding special items which is a $383 million improvement year over year. Delta’s net income for 2010 was $1.4 billion, excluding special items. Including $851 million in special items, Delta’s net income for 2010 was $593 million. Delta’s GAAP net
Avolon, the aircraft leasing group, reported a second capital raising of $650 million comprising $250 million of equity and $400 million of debt finance. The $250 million of additional equity has been raised from Avolon’s existing investors: Cinven, CVC Capital Partners and Oak Hill Capital Partners. A number of other investors have also participated in
GOL Linhas Aereas Inteligentes S.A. reported that its subsidiary GOL Finance is offering senior notes due in 2020 in an offering exempt from registration under the United States Securities Act of 1933, as amended (“Securities Act”). GOL and its subsidiary, VRG Linhas Aereas S.A., will guarantee the notes. The notes will be senior unsecured debt
Gulfstream International Group has reached a final agreement with the Federal Aviation Administration providing for the settlement of certain proposed civil penalties. The agreement calls for the Company to pay $550,000 over a five-year period. The Company has also reached an agreement with Raytheon Aircraft Credit Corporation (“RACC”) to extend its current Lease Amendment and
Delta Air Lines has entered into definitive agreements to sell two of its wholly owned regional airline subsidiaries, Mesaba and Compass Airlines. Mesaba has been sold to Memphis, Tenn.-based Pinnacle Airlines Corp. for $62.0 million, and Compass has been sold to St. Louis-based Trans States Holdings for $20.5 million. Pinnacle and Trans States are both
Global Aviation Holdings has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. Global Aviation expects to use
AerCap Holdings N.V. has closed its first notes issuance guaranteed by the Export Credits Guarantee Department (“ECGD”) – the United Kingdom’s Export Credit Agency. The notes have been issued at a fixed rate of 3.795 percent, have a maturity in 2021, and an initial principal amount of $151 million. The transaction completes the refinancing of
Aircastle Limited signed a credit agreement for a $108 million pre-delivery payment financing commitment from Sumitomo Mitsui Banking Corporation (
Virgin America reported its financial results for the first quarter of 2010. The airline reported revenue increase of 46% versus the first quarter of 2009. Unit revenue increased by 21% year-over-year. The airline reported a $22 million operating loss on revenues of $147 million during the quarter. Virgin America narrowed its operating loss by $9
FedEx reported fourth quarter revenues of $9.43 billion, up 20% from $7.85 billion the previous year, operating income of $696 million, up from an operating loss of $849 million last year. Net income for the quarter was $419 million, up from last year
