Financial

Virgin America reported fourth quarter 2013 net income of $14.2m, compared to a year ago quarterly loss of $25.0m, an improvement of $39.1m. Operating revenue totalled $359.9m, an increase of 2.7% from the fourth quarter of 2012. Operating income totalled $24m, an increase by $18.4 million year-over-year. Operating margin was 6.6%, an increase of 5.1 […]

Lufthansa Cargo achieved an operating profit of €77m in the last financial year, €28m less than in the previous year. Numerous projects in the “Lufthansa Cargo 2020” future programme were vigorously pursued; fleet modernisation was successfully initiated. A significantly higher result is expected in 2014. Lufthansa Cargo Chairman and CEO, Karl Ulrich Garnadt, emphasised at

DVB Bank, which is focused on international transport finance, posted consolidated net income after taxes of €110.2m, down 11.8% year-on-year (2012: €124.9m). This decline was mainly due to a special effect which impacted on the previous year’s figure: net other operating income/expenses for 2012 included a significant non-recurring effect from the sale of a stake

Precision Castparts Corp. has agreed to acquire Aerospace Dynamics International (ADI) from The Marvin Group for $625m. ADI is one of the premier suppliers in the aerospace industry, operating a wide range of high-speed machining centers. ADI has developed particular expertise in large complex components, hard metal machining, and critical assemblies. The company has strong

International technology group RUAG posted slightly higher net sales of CHF 1,752m in 2013 (previous year: CHF 1,741m). Earnings before interest and taxes (EBIT) came to CHF 115m, similar to the previous year’s level (CHF 113m). The EBIT margin (EBIT/operating performance) increased slightly to 6.6% (6.3%), while net profit rose by CHF 16m to CHF

Revenues from operations for the present year grew by about $2103.00m compared to $2015.6m in 2012, a 4% increase. Passenger revenues grew by about 4.9%, largely as a result of increased passenger numbers. Cargo revenues decreased by about 3.3% as a result of the drop in the average ton-kilometer revenue. Operating costs in 2013 were

Boeing expects the market for financing new aircraft to remain strong as airline customers continue to demand for new, fuel-efficient airplanes. “Globally the liquidity balance looks good as the industry rebalances itself to move away from export credit support, with its more expensive pricing, and more toward reliance on the commercial markets,” said Tim Myers,

Lufthansa Technik Group’s 4.2% increase in revenue to €4.2bn in 2013 was characterized by stable business development within the Lufthansa Group and an increase in business with external customers, whose share of the total revenue rose by 1.7% to reach 62.2%. The operating result improved considerably, climbing by 23.2% to €404m, with an operating margin

LATAM Airlines posted a net loss of $46.1m for the fourth quarter due to a drop in revenue and a foreign exchange loss stemming from the Brazilian real’s depreciation, the company said on Monday, March 17th. The company, formed in mid-2012 when Chile’s flagship LAN took over Brazil’s TAM, posted a net loss of $69.8m

Textron has closed its acquisition of Beech Holdings, LLC, the parent of Beechcraft Corporation, and that it will bring together its Cessna business and Beechcraft to form a new segment called Textron Aviation. Cessna and Beechcraft together produced about $4.6bn in revenues during 2013. The acquisition brings together three iconic brands, each pioneering many of