FedEx reported revenues of $9.97 billion, up 8% from $9.20 billion a year ago, operating income of $630 million, down 23% from $814 million last year, operating margin of 6.3%, down from 8.8% the previous year and net income of $384 million, down 22% from last year
UAL Corporation completed the amendment of its co-branded card marketing services agreement with Chase Bank, as well as amended its credit card processing agreement with Chase/Paymentech L.L.C. These agreements boost United’s liquidity by approximately $1.2 billion, including $1.0 billion in the short term and an additional $200 million over the next two years. Under the
AMR Corporation has raised approximately $300 million through the sale of 27.1 million shares of AMR common stock. Net proceeds to AMR were $294 million. The shares of common stock were issued pursuant to AMR’s shelf registration statement, and a prospectus supplement relating to the common stock was filed with the Securities and Exchange Commission
AAR reported fiscal 2009 first quarter net sales of $359.9 million and income from continuing operations of $18.7 million. Sales grew 18% from $306.0 million in last year’s first quarter, and income from continuing operations increased 23% from $15.3 million in the prior year. Sales to defense customers increased 32% and sales to commercial customers
Astronics Corporation announced a one-for-four distribution of Class B Stock to holders of both Common and Class B Stock. Stockholders will receive one share of Class B Stock for every four shares of Common and Class B Stock held on the record date of October 6, 2008. Fractional shares will be paid in cash. The
Chicago-based BCI Aircraft Leasing has signed a letter of intent for a sale and leaseback transaction with China Airlines. The deal will include a 2006 Airbus A330-300 commercial aircraft which will be operated in passenger service on long-term lease by the Taiwan-based carrier.
AMR Corporation, the parent company of American Airlines, has completed the sale of American Beacon Advisors, its wholly owned asset-management subsidiary, to Lighthouse Holdings, which is owned by investment funds affiliated with Pharos Capital Group, LLC and TPG Capital, L.P., two leading private equity firms. AMR received a total consideration of $480 million. While primarily
Gulfstream International Group has entered into an agreement to sell to an institutional investor $5.10 million in face amount of secured original issue discount debentures (the “Senior Debentures”). In addition, Gulfstream will issue to the Investor a warrant to purchase 578,870 shares of Gulfstream common stock, exercisable at nominal value. The Investor has the right
Airbus and GKN have signed a contract under which GKN will purchase the wing component and assemblies manufacturing unit based at Airbus’ site at Filton, near Bristol, UK. This will result in all operational business, assets and activities, within the parameters agreed, being transferred to GKN. As a result of the transaction, GKN is fully
Lufthansa takes a strategic equity share in Brussels Airlines Acquisition of 45% for 65 million euros / Acquisition of remaining 55% intended Brussels Airlines is embarking on a new future with Lufthansa: Lufthansa Chairman Wolfgang Mayrhuber and SN Airholding Chairman Eitienne Davignon have signed an agreement, which initially envisages a strategic stake in SN Airholding
