Frontier Airlines released that a judge of the U.S. Bankruptcy Court for the Southern District of New York has approved the “first day motions” that Frontier and its subsidiaries submitted as part of their voluntary filing for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Approval of these critical motions helps to ensure Frontier’s
Frontier Airlines Holdings announced that, following an unexpected attempt by its principal credit card processor to substantially increase a “holdback” of customer receipts, which threatened to severely impact Frontier’s liquidity, Frontier and its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Frontier intends to continue normal business operations
SAFRAN reported that consolidated sales amounted to 2,514 million euros for the 2008 first quarter, up 11% at constant scope and exchange rates over the year-earlier period. Aerospace, defense and security businesses grew by 13.2% to 2,377 million euros, at constant scope and exchange rates. Orders for commercial aircraft engines continued to be buoyant, with
UPS lowered its first quarter earnings expectations to $0.86 or $0.87 per diluted share from a previously anticipated range of $0.94-to-0.98. At UPS
Embraer reported that its firm order backlog for the Commercial Aviation, Executive Aviation, and Defense and Government segments increased by $1.5 billion during the first quarter of 2008 (1Q08), totaling a record $20.3 billion. During 1Q08 Embraer delivered 45 aircraft in total, where 38 jets were delivered to the Airline Market, 7 jets to the
ATA Airlines has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code. The petition was filed on April 2 in the U.S. Bankruptcy Court for the Southern District of Indiana, in the Indianapolis division. Subsequent to the Chapter 11 filing, ATA discontinued all operations, effective as of 4 am ET on April
During the first quarter of 2008, Rolls-Royce demonstrated the value of its broad portfolio and of its consistent strategy of investing in technology and capability and access to global markets. The continuing strength of the market was underlined by the announcement of around $14.7 billion of new business in the first three months of 2008.
Willis Lease Finance Corporation reported it closed a private placement of $233 million of new 13-15 year term notes for Willis Engine Securitization Trust (WEST) on March 28, 2008. The proceeds of the term notes were used to repay existing warehouse borrowings totaling $164 million and to purchase 11 engines from Willis Lease. WEST issued
Bank of China has signed agreements with Deutsche Lufthansa AG for the financing of two Airbus A330-300 aircraft under Japanese Operating Lease (
Boeing has agreed to acquire Vought Aircraft Industries’ interest in Global Aeronautica, LLC, a South Carolina fuselage sub-assembly facility for Boeing’s newest airplane, the 787 Dreamliner. After the transaction is complete, Global Aeronautica will become a 50-50 joint venture between The Boeing Company and Alenia North America, a subsidiary of Italy’s Alenia Aeronautica — a
