AAR CORP. released that the initial purchasers of the convertible senior notes issued on February 11, 2008 (the “Notes”) have exercised in full their over-allotment option to purchase an additional $25 million in aggregate principal amount of Notes. The additional Notes will be allocated evenly between the two tranches of Notes, resulting in a total
Astronics Corporation reported 2007 full year sales increased 42.9% to $158.2 million from $110.8 million in 2006. Fourth quarter sales increased by 25.4% to $36.3 million from $28.9 million in the fourth quarter of 2006. Net income for 2007 was $15.4 million compared with net income of $5.7 million in 2006. For the fourth quarter
Mesa Air Group reported first quarter after tax losses of $2.8 million from continuing operations on operating revenues of $326.6 million. Total operating revenues for the first quarter of 2008 decreased $6.9 million, or 2.1% primarily as a result of a year-over-year decrease in aircraft in service. The net loss of $2.8 million compares to
WestJet reported record fourth quarter and full-year 2007 results. The airline’s quarterly net earnings increased to $75.4 million from $26.7 million in the same period last year. These results included a one-time favourable adjustment of $33.7 million due to corporate income tax rate reductions enacted by the federal government in the quarter. Excluding the one-time
AAR CORP. reported the completion of a private placement of $125 million aggregate principal amount of 1.625% convertible senior notes due 2014 and $100 million aggregate principal amount of 2.25% convertible senior notes due 2016 (together, the “Notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of
Continental Airlines will distribute a record $158 million in profit sharing payments to its employees at more than 200 locations worldwide. This is the second consecutive year that the company will be sharing profits with employees. Last year, Continental paid $111 million in profit sharing for 2006.
ACE Aviation Holdings reported net income of $1,398 million for the full year 2007. Net income included $1,366 million pre-tax gains mainly from the sale of ACTS and from the secondary offerings of Aeroplan and Jazz. Operating income amounted to $453 million including operating income of $433 million at Air Canada. Air Canada reported EBITDAR
Rolls Royce reported that order book increased by 76% to a record
Aircastle Limited announced that a subsidiary company entered into a senior secured credit agreement with JPMorgan Chase Bank, N.A. and Calyon New York Branch. This new credit facility provides for loans in an aggregate amount of up to $300 million to finance certain specified aircraft owned or to be acquired by affiliates of Aircastle.
