AMR Corporation, the parent company of American Airlines, reported a net loss of $69 million for the fourth quarter of 2007. The current quarter results compare to a net profit of $17 million for the fourth quarter of 2006. For all of 2007, AMR posted a net profit of $504 million. AMR’s full-year 2007 results
Safran reported 2007 consolidated sales of 12 billion euros, up 5.9% over 2006. At December 31, 2007, net debt stood at 160 million euros, a sharp reduction over the year-end 2006 figure of 419 million euros.
Mesa Air Group reported fourth quarter losses from continuing operations of $62.2 million on gross operating revenues of $327.8 million. This compares to earnings from continuing operations of $5.8 million in the fourth quarter of 2006 on gross operating revenues of $348.8 million. Net loss for the quarter was $68.2 million versus $4.8 million net
Eclipse Aviation, manufacturer of the world’s first very light jet (VLJ), will expand its partnership with European Technology and Investment Research Center (ETIRC) Aviation. The agreement between the two companies includes an equity investment by ETIRC in Eclipse that is substantially in excess of $100 million. The agreement also provides for significant additional financial benefits
GA Telesis, LLC reported the closing of a $270 million warehouse credit facility (
Rolls-Royce announced a further stage in the Group
ACE Aviation Holdings released the final results of its offer to purchase Cdn$1.5 billion of its Class A Variable Voting Shares and Class B Voting Shares, which expired at 5:00 p.m. (Montreal time) on January 10, 2008. Based on final reports from CIBC Mellon Trust Company, the depositary under the offer, ACE confirmed that it
Continental Airlines has contributed $60 million in cash to its defined benefit pension plans. Continental contributed $336 million to its pension plans in 2007, significantly exceeding its minimum funding requirement for the calendar year.
Shareholders of China Eastern Airlines reportedly rejected a bid by Singapore Airlines to acquire a 24% stake in the company for HK$3.80 per share, stating the offer price was too low.
Pinnacle Airlines Corp. has purchased its Class A Preferred Share from Northwest Airlines Corp. at a purchase price of $20 million. The purchase is in accordance with the Airline Service Agreement between Pinnacle and Northwest agreed to a year ago. “This is the last step in the process of becoming independent that began with our
