Willis Lease Finance Corporation (WLFC) reported net income attributable to common shareholders was $9.1m for the first nine months of 2013, compared to a loss of $3.0m in the first nine months of 2012. A significant improvement in portfolio utilization in the current quarter was overshadowed by asset write-downs and engine repair expenses. In the
FLY’s net income for the third quarter of 2013 was $304,000 compared to a loss of $29.4m in the same period of 2012. Operating lease revenue decreased from $84.4m for the third quarter of 2012 to $78.4m for the third quarter of 2013, primarily due to a decrease in end of lease income from $5.8m
Rolls-Royce has been awarded a $50.7m MissionCare contract extension by the US Department of Defense to provide continued support for the F405 (Adour) engines that power the US Navy’s T-45 training aircraft. The contract extension will continue the successful MissionCare support which has provided the US Navy’s training fleet with guaranteed availability over the past
Revima APU has been an Authorized APU Repair Facility for Pratt and Whitney Aero Power (formerly Hamilton Sundstrand Power Systems) for 10 years, serving APU customers worldwide. As a natural outcome of the strong and mutually beneficial relationship which has been developed over the years, Pratt and Whitney Aero Power has expanded Revima APU’s authorizations
Altra Holdings has signed a definitive agreement to acquire the shares of Svendborg Brakes A/S and S.B. Patent Holding ApS (together “Svendborg”) for a cash consideration of €80.1m, less the cash remaining on the balance sheet at close, which is payable upon completion of the acquisition. Altra intends to finance the transaction through a combination
Willis Lease Finance Corporation (WLFC) reported the launch of Willis Aeronautical Services (“WASI”), a new wholly-owned subsidiary which will provide ‘end-of-life’ solutions for aviation materials and services related to aircraft engines. In conjunction with the formation of WASI, Willis Lease acquired most of the assets and hired the team of professionals from JT-Power (“JT-Power”), a
GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, released that Stephane Daillencourt has been promoted to Executive Vice President, Aviation Financing Operations. Based in Singapore and reporting to GECAS President and CEO Norman Liu, Daillencourt will be responsible for overseeing all structured finance and capital markets activity as well
On November 6, 2013 the third Sukhoi Superjet 100 for the Mexican airline Interjet landed in Toluca (Mexico) to join the other two SSJ100 already in service with the airline. The aircraft was rolled out from SuperJet International’s hangar in Venice (Italy) upon completion of customization and technical acceptance procedure on November 5, 2013. On
GE Aviation, which consumes more than 10m gallons of jet fuel annually at its engine testing centers, will broaden its fuel source beginning in 2016. GE Aviation has signed an agreement to purchase cellulosic synthetic biofuel from The D’Arcinoff Group (DG), based in Washington, D.C., to be used for production and development testing of GE
Air Transport Services Group, a leading provider of aircraft leasing, and air cargo transportation and related services reported consolidated financial results for the quarter ended September 30, 2013. Revenues decreased 8.4% to $140.9m. Revenues increased 1.4% from the second quarter of 2013. Net earnings from continuing operations decreased 32.5% to $7.8m but were up 12.8%
