Financial

The Emirates Group has reported its 21st consecutive year of net profit for its 2008-09 financial year despite unprecedented challenges for the airline and travel industry. The Group

ExelTech announced that on May 19, 2009 it has successfully renewed its $7 million credit facility with a Canadian chartered bank. This new credit facility replaces the previous facility with the same bank and bears new covenants which ExelTech expects to be in compliance with. The Corporation currently has outstanding approximately $2.3 million in principal

Regional Express Holdings Limited (Rex) announced a group net profit before tax for Q3 2009 $7.5 million, a decrease of 6.3% over last year. The year to date profit before tax increased by 1.9% to $21.9 million. The company has advised that its net earnings for the full financial year could be up to 10%

Air France/KLM reported that the operating loss amounted to 129 million euros versus income of 1.41 billion euros at 31st March 2008. Adjusted operating income stood at 91 million euros and the corresponding adjusted operating margin at 0.4%, down 6.3 points. The loss from operating activities stood at 193 million euros, compared with income of

Avcorp announced its financial results for the quarter ended March 31, 2009. During the quarter ended March 31, 2009, the Company recorded a loss from operations of $1,989,000 on $22,087,000 revenue, as compared to $183,000 earnings from operations on $31,151,000 revenue for the same quarter of the preceding year; and a net loss for the

Ronson Corporation has entered into an agreement to sell substantially all of the assets of its wholly-owned subsidiary, Ronson Aviation, Inc. Ronson Aviation is a fixed-base operator at Trenton-Mercer Airport, providing aircraft fueling and servicing, avionics sales, aircraft repair and maintenance, hangar and office leasing and related services. The purchaser is Hawthorne TTN Holdings, Inc.,

MTU Aero Engines will pull out of its production activities in the U.S.: the manufacturing unit of MTU Aero Engines North America (AENA) was sold to U.S.-based EDAC Technologies. The contract was signed late last week. The transaction will not affect MTU’s revenue and profit forecast for the year, nor will it have an impact

Singapore Technologies Aerospace has acquired all the shares of Precision Products Singapore (PPS) from Nippon Precision Casting Corporation, Renaissance Capital Management Limited and Singapore Technologies Industrial Corporation respectively. The acquisition was for a cash consideration of S$7.65 million. With this purchase, PPS becomes a wholly-owned subsidiary of ST Aerospace. This acquisition is not expected to

GOL Linhas Aereas Inteligentes S.A. announces its results for the first quarter of 2009. The following financial and operating information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS) and in Brazilian Reais (R$. GOL posted a 1Q09 net income of R$61.4mm, with a net margin of 4.0%, versus net losses