Nordic Aviation Capital Designated Activity Company (NAC) has released that the U.S. Bankruptcy Court for the Eastern District of Virginia has confirmed the company’s plan of reorganization, which should enable the company to emerge from Chapter 11 before the end of May. The plan was approved by the court with the consent of the company’s
Lockheed Martin Corporation has reported first-quarter 2022 net sales of US$15.0 billion, compared to US$16.3 billion in the first quarter of 2021. Net earnings in the first quarter of 2022 were US$1.7 billion, compared to US$1.8 billion in the first quarter of 2021. Cash from operations was US$1.4 billion in the first quarter of 2022, compared to
Delta Air Lines (Delta) has posted its financial results for the March quarter of 2022. The company reported an adjusted operating loss of US$793 million excluding a net gain of US$9 million and a pre-tax loss of US$1.2 billion with an adjusted pre-tax loss of US$1.0 billion, excluding a net expense of US$164 million. Adjusted operating
Reliance Aircraft International (Austin, TX) has released that it has acquired Suncoast Landing Systems Corp. (Suncoast) (in Medley, FL) and formed Suncoast Landing Systems LLC. Established in 2005, Suncoast has capabilities to overhaul and repair commercial landing gear. The management team of Victor Ortega and Larry Wernath will continue to run the day-to-day operations. “We are excited
Germany-headquartered Recaro Group, the seating innovator and specialist which includes Recaro Holding, Recaro Aircraft Seating and Recaro Gaming has announced it generated approaching €270 million in 2021. The Group also predicts a promising 2022 with a projected double-digit growth. At Recaro Aircraft Seating’s four worldwide-located premises nearly 60,000 aircraft seats were manufactured, a slight rise
TAP Air Portugal has posted a net loss of €1.6 billion for 2021, better than forecasted (€1.75 billion), including the recognition of non-recurring costs of €1 billion. The first half of 2021 was marked by severe restrictions on domestic and international mobility due to the COVID-19 pandemic, leading to an almost total grounding of the
Deutsche Lufthansa AG has signed its first Revolving Credit Facility with a broad syndicate of international relationship banks. The total facility amount is €2.0 billion and will be available for a period of three years plus two one-year extension options. Other than customary group guarantees, the facility is unsecured, has no financial covenants and serves
Airbus Defence and Space has acquired DSI Datensicherheit GmbH (DSI DS), a German-based company that provides cryptography and communication systems for Space, Airborne and Naval & Ground that is certified by the Federal Office for Information Security (BSI). The acquisition follows a longstanding partnership between the two companies. DSI DS will be fully owned by
Spirit Airlines has released that it received an unsolicited proposal from JetBlue Airways to acquire all of the outstanding shares of Spirit’s common stock in an all-cash transaction for US$33.00 (£25.00) per share. Consistent with its fiduciary duties, the Spirit Board of Directors will work with its financial and legal advisors to evaluate JetBlue’s proposal
Dubai Aerospace Enterprise (DAE) has successfully closed a new four-year US$1 billion (£760 million) revolving credit facility with a one-year extension option. The facility replaces other facilities with near-term maturity dates and represents DAE’s first facility that is priced with reference to SOFR. The facility attracted strong interest from a broad group of banks and
