Financial

FLY’s net income for the second quarter of 2013 was $5.9m compared to $25.7m in the same period of 2012. The decline in net income is the result of a decline in operating lease revenue, gains from aircraft sales during the second quarter of 2012 and expenses associated with delivering aircraft to new lessees, partially […]

GE has completed the acquisition of the aviation business of Avio S.p.A., a leading, Italy-based provider of civil and military aviation components and systems. The purchase price was $4.3bn U.S. (€3.3bn). GE did not purchase Avio’s space unit. Avio’s aviation business has been renamed Avio Aero, a GE Aviation business. Avio Aero will retain headquarters

EADS reported increased revenues and profitability for the first half of 2013, driven mainly by its commercial aircraft business. Order intake increased sharply to €96.6bn with the order book value reaching €634.8bn at the end of June. The reported EBIT amounted to €1.5bn with a half-year Net Cash position of € 5.9bn. In the first

SAS (Scandinavian Airlines System Denmark -Norway- Sweden) has on 30 July 2013 managed to accomplish a private placement of €35m. The private placement is unsecured and has a 5 years term. The funds will be used to support SAS’ longer term liquidity level and be used to pay off upcoming unsecured maturing debt. The private

WestJet announced its 33rd consecutive quarter of profitability, with record second quarter net earnings of $44.7m. This compares with the net earnings of $42.5m reported in the second quarter of 2012. These results include $8.4m of one-time pre-tax transition costs associated with WestJet’s business transformation initiative. Based on the trailing twelve months, the airline achieved

Milestone Aviation Group, the global leader in helicopter leasing, has closed a new $300m credit facility. The company will use the proceeds to acquire and lease helicopters valued at $400m to affiliates of Bristow Group Inc. The assets include Sikorsky S-92’s, Eurocopter EC225’s and AgustaWestland AW189 and AW139 aircraft. The Milestone facility is the largest-ever

In the second quarter of 2013 Embraer delivered 22 commercial and 29 executive (23 light and 6 large) jets; the Company’s firm order backlog grew to US$17.1bn, reaching its highest level since the third quarter of 2009, mainly as a result of significant orders in the Commercial aviation segment. As a result of aircraft deliveries,

Safran delivered strong progress in performance in first-half 2013. For first-half 2013, Safran’s revenue was €7,066m, compared to €6,413m in the same period a year ago, a 10.2% year-on-year increase (9.7% organic growth). First-half 2013 revenue increased by €653m on a reported basis, notably highlighting a good performance in aerospace (both organic and from acquisitions).

Republic Airways reported diluted earnings per share of $0.46, which is a 15.0% increase from the $0.40 per diluted share result in the second quarter of 2012. Net income increased 23.0% to $24.6m for the qu arter ended June 30, 2013, compared to net income of $20.0m for the same period last year. Operating revenues

Southwest Airlines reported second quarter 2013 net income was $224m, which included $50m (net) of unfavorable special items. This compared to net income of $228m in second quarter 2012, which included $45m (net) of unfavorable special items. Excluding special items, second quarter 2013 net income was a record $274m compared to $273m in second quarter