AAR CORP reported net income of $20.0 million for the third quarter ended February 28, 2009. Year over year, sales declined from $376.6 million to $338.8 million due mainly to lower sales in the Aircraft Sales and Leasing segment. Excluding Aircraft Sales and Leasing, sales were essentially unchanged from last year. Sales to defense customers
Italian charter airline Livingston Energy Flight has engaged Lufthansa Technik to overhaul its long-haul Airbus A330 fleet. The comprehensive C-checks will be carried out between May and September in Lufthansa Technik Malta
N3 Engine Overhaul Services GmbH & Co. KG in Arnstadt, Thuringia, has successfully completed the company
Southwest Airlines reported a first quarter 2009 net loss of $91 million compared to net income of $34 million for first quarter 2008. First quarter 2009 results included special charges totaling $71 million (net), relating to non-cash, mark-to-market and other items associated with a portion of the Company’s fuel hedge portfolio. Refer to the reconciliation
AMR Corporation, the parent company of American Airlines, reported a net loss of $375 million for the first quarter of 2009, or $1.35 per share. The results include the impact of a $13 million charge to reflect the net present value of future lease payments related to A300 aircraft retirements during the quarter. The current
Discovery Air Inc. has successfully refinanced its existing operating lines of credit through the establishment of an asset-based lending facility with a new lender. This loan facility provides availability of up to $15 million augmented by a limit bulge of up to $10 million during the company’s seasonally busy period during which working capital demands
OpenSkies, the unique all business airline operating nonstop flights between New York (Kennedy and Newark) and Paris (Orly), and between New York (Kennedy) and Amsterdam (Schiphol), has completed its merger with L’Avion, the first all business class French airline. The combined airline, now referred to as OpenSkies, offers customers a single, premiere Business Class brand
United Airlines reported its preliminary consolidated traffic results for March 2009. The company reported a March consolidated passenger load factor of 78.7% down 3.3 pts. Total consolidated traffic decreased in March by 13.6% on a consolidated capacity decrease of 9.9% compared with the same period in 2008.
Limco-Piedmont Inc. and TAT Technologies Ltd. have entered into a definitive agreement and plan of merger pursuant to which TAT (which presently owns 61.8% of Limco’s common stock) will acquire all of the publicly held shares of common stock of Limco pursuant to a stock for stock merger. Under the terms of the merger agreement,
