AeroCentury, an independent aircraft leasing company, reported earnings growth of 80% to US$1.4m in the second quarter of 2015, from US$752,000 in the first quarter of 2015. Second quarter profits were fueled by the Company’s portfolio modernization program, which is generating gains from sale of older assets. Following the US$6.8m non-cash, pre-tax write-down of certain
A standoff now exists between China and the USA with regard to any ease on flight limits between the two nations. Currently the USA are refusing to accept terms offered by the Chinese for fear of being offered uncompetitive time slots, leaving the prime slots for Chinese airlines. The Chinese are now accusing the USA
Boeing do not forecast a downturn in demand for civilian aircraft and do not believe, as some do, that the current high demand has peaked, despite concerns over the slowing growth in China. Greg Smith, Boeing’s Chief Financial Officer, has made the company’s current position very clear, saying that “We’re not seeing a slowdown in
airberlin’s revenue performance in the second quarter of 2015 was characterised by tactical capacity adjustments. At €1.07 bn in Q2 2015, revenue fell by 7.0% compared to the same period last year (Q2 2014 €1.15bn). Accordingly, Group revenue also declined by -2.3% (from €1.91bn to €1.87bn) in the first half of 2015. As a result
RUAG Aviation signed an agreement with Guernsey’s flag carrier airline Aurigny Air Services for the sale of a Dornier 228 NG, scheduled for delivery by the end of 2015. The bulk of Aurigny’s fleet comprises Embraer E-195, ATR-72-200/500 and 15-seater Brittan Norman Trilanders, which, after 40 years in operation, are reaching the end of their
Japanese regional carrier Amakusa Airlines took delivery in Toulouse of a 48-seat ATR 42-600, the first of the type to start operations in Japan. For almost 15 years, the airline has been providing regular scheduled regional services connecting the city of Amakusa off the coast of mainland Kyushu in southwestern Japan to large cities such
DVB Bank SE, the international transport finance specialist, increased consolidated net income before taxes for the first half of 2015 by 4.6% year-on-year, to €43.3m (previous year: €41.4m). Interest income rose by 18.9%, from €434.7m to €516.8m. Allowance for credit losses amounted to €39.7m (previous year: €27.9m), net interest income after allowance for credit losses
Currently VAT (sales tax) is levied at the rate of 20% in the UK. At airports where there is a ‘duty free zone’ the majority but not all retailers pass on a 20% reduction in price to the consumer if they are travelling outside the European Union (EU) according to revelations in a major UK
Air Canada reported second quarter adjusted net income of C$250m compared to adjusted net income of C$139m in the second quarter of 2014, an improvement of C$111m or approximately 80%. EBITDAR (earnings before interest, taxes, depreciation, amortization and aircraft rent) amounted to C$591m compared to EBITDAR of C$45m in the same quarter in 2014, an
The Brazilian Civil Aviation Agency (Agência Nacional de Aviação Civil – ANAC) granted type certification for the Legacy 450 mid-light executive jet during a ceremony at the Latin American Business Aviation Conference and Exhibition (LABACE) in São Paulo, Brazil. The certification campaign comprised two prototype aircraft, the first with flight test instruments and the second
