Emirates Investment & Development PSC (Emivest) of Dubai, have obtained approval from the Committee on Foreign Investment in the United States (CFIUS) to acquire an 80% stake in Sino Swearingen Aircraft Corporation (SSAC) of San Antonio, Texas. The acquisition will enable SSAC to initiate full-scale production of its SJ30. The SJ30 is a light jet
United Airlines reported its preliminary traffic results for May 2008. The company reported a May passenger load factor of 82.6%, down 2.0 pts compared to May 2007, traffic decreased in May by 4.1% on a capacity decrease of 1.7%.
HEICO Corporation reported that net income increased 27% to $11,948,000 for the second quarter of fiscal 2008 from $9,407,000 for the second quarter of fiscal 2007. For the first six months of fiscal 2008, net income increased 27% to a record $22,034,000 from $17,328,000 in the first six months of fiscal 2007. Operating income increased
ACE Aviation Holdings has sold in the market a total of 19,892,088 units of Aeroplan Income Fund for total net proceeds to ACE of approximately $349.3 million and a total of 11,726,920 units of Jazz Air Income Fund for total net proceeds to ACE of approximately $85.0 million. ACE retains no further interest in Aeroplan
Iberia released that net earnings by the Iberia Group climbed to 327.6 million euros from the 56.7 million euros posted in 2006, far exceeding the targets set in the 2006-2008 Strategic Plan, and enabling the company to pay its shareholders a dividend of 17 eurocents per share. Operating earnings in 2007 reached 283.5 million euros,
ELAL reported that revenues reached an all-time record, and totaled $471.5 million, compared to $388.6 million in the first quarter last year, an increase of 21%. Gross profits in this quarter totaled $54.9 million, an increase of 12% compared to the parallel quarter last year. Operating loss this quarter totaled $47.4 million, compared to a
HEICO Corporation has entered into an amended, senior unsecured revolving credit facility with a banking syndicate led by SunTrust Robinson Humphrey, Inc. and J.P. Morgan Securities, Inc. The amendment increases the revolving credit commitment amount from $130 million to $300 million, which may be increased to $500 million under certain circumstances. The borrowings under the
In Q1 2008 Israel Aerospace Industries (IAI) recorded a net profit of $40 million (after a provision of $13 million for employee retirement), compared with $44 million in Q1 2007, a 9.1% drop. The Company’s sales in Q1 2008 totaled $1,014 million, compared with $800 million in the corresponding period of last year, a 28%
Astronics Corporation has entered into a five-year $60 million committed revolving credit facility, which will replace its existing $25 million facility. The Company entered into the new credit facility with HSBC Bank USA, National Association, the lead bank, and Bank of America, N.A. and KeyBank as participating lenders. The expanded credit facility is committed through
Air France-KLM reported operating income of 1.41 billion euros up 13.3%, income from operating activities rose 3.2% to 1.27 billion euros (versus 1.23 billion euros a year earlier). Excluding exceptional items (cargo provision and proceeds from Amadeus), it would have increased by 23.0%. Pre-tax income of fully integrated companies amounted to 1.15 billion euros. After
