ATR announced stabilization in 2009 of its previous year results, thus reaching its main goals for the year despite the adverse situation of the economy. The turboprop manufacturer achieved new turnover record of $ 1.4 billion in 2009 (2008: $ 1.3 billion), and delivered 54 aircraft (2008: 55), thus consolidating delivery rate over 50 aircraft
Pinnacle Airlines has closed on a $10 million credit facility with Independent Bank of Memphis, Tenn. The loan is designed to provide Pinnacle with additional working capital until it receives its 2009 federal income tax refund, estimated to be $38 million. Separately, Pinnacle also modified its $25 million spare parts loan to reduce certain liquidity
AerSale announced that it completed an initial $250 million equity raise with Green Equity Investors V, L.P., an affiliate of Leonard Green & Partners, L.P. AerSale is a global provider of aftermarket aircraft, engines, and their component parts to airlines, leasing companies, and OEM/MRO service providers.”We’re excited to have partnered with Leonard Green & Partners,”
The SIAEC Group posted a profit attributable to equity holders of $56.0 million, a decrease of $7.0 million or 11.1% over the corresponding period last year. Revenue at $241.5 million was lower by $28.5 million or 10.6%, due to a drop in airframe maintenance and component overhaul work against the backdrop of a continued reduction
UPS announced that it expects to exceed its previously announced estimate for 4th quarter 2009 earnings, now anticipating a range of $0.73 to $0.75 per diluted share. The company previously projected earnings of $0.58 to $0.65 per diluted share for this period. In an effort to improve performance in the U.S. package segment, UPS also
MESA AIR GROUP has commenced a financial restructuring through the voluntary filing of petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York (the
Goodrich Corporation has completed the acquisition of AIS Global Holdings LLC (AIS), known as Atlantic Inertial Systems, from an investment affiliate of J.F. Lehman & Company. The purchase price was approximately $375 million. Goodrich had announced its intentions to acquire AIS on November 17, 2009. AIS is a leading provider of mission-critical guidance, stabilization and
Vought Aircraft Industries reported financial results for its second quarter ended June 28, 2009. Revenue for the second quarter of 2009 was $491.5 million, an increase of $10.8 million or 2%, compared with revenue of $480.7 million for the same period last year. Operating income for the second quarter was $32.7 million which is consistent
Willis Lease Finance Corporation reported solid second quarter and year-to-date profitability fueled by growth in its lease portfolio as well as lower borrowing costs. Second quarter 2009 net income available to common shareholders totaled $4.2 million compared to $5.6 million in the like quarter a year ago. Net income available to common shareholders in the
Southwest Airlines confirmed that the carrier submitted its binding cash offer of more than $170 million to acquire Frontier Airlines, which will be sold at auction as part of Frontier’s bankruptcy case. The bid was submitted to Frontier in accordance with the procedures established in the U.S. Bankruptcy Court for the Southern District of New
