Financial

TransDigm Group (TDG) has entered into a definitive agreement to acquire Arkwin Industries, Inc., for approximately $286m in cash. The acquisition, subject to regulatory approvals and other customary closing conditions, is expected to close in the third quarter of fiscal 2013. Arkwin, located on Long Island, New York, manufactures proprietary, highly engineered aerospace hydraulic and […]

SIAEC Group posted a profit attributable to owners of the parent of $270.1m for the financial year ended 31 March 2013, an increase of $1.0m on or 0.4% over last year. Operating profit was $1.5m or 1.2% lower at $128.1m. Revenue was $23.2m or 2.0% lower, mainly due to lower fleet management and project revenue.

Virgin America achieved its first-ever fourth quarter operating profit with $5.1m of operating income, an improvement of $13.2m, compared with the fourth quarter of 2011. The airline recorded operating revenues of $350.4 million in the fourth quarter, a year-over-year increase of 27%. EBITDAR increased to $65.1m in the fourth quarter, a year-over-year improvement of 54%.

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 March 31, 2013. Revenues were $143.3m, a decrease of 1.5%. Total operating expenses were $126.9m, down 3.7%, including a $3.8m reduction in salaries, wages and benefits expense due in large

Air Lease Corporation reported another consecutive quarter of fleet, revenue, profitability and financing growth. Diluted EPS increased by 46% to $0.38 per share for the three months ended March 31, 2013 from $0.26 per share for the three months in 2012. Revenues increased 45% to $192m compared to $133m in 2012. Income before taxes increased

Bombardier reported its financial results for the first quarter ended March 31, 2013. Revenues totalled $4.3bn for the first quarter ended March 31, 2013, compared to $3.5bn for the same period last fiscal year. Earnings before financing expense, financing income and income taxes (EBIT) before special items totalled $240m, or 5.5% of revenues, compared to

HEICO Corporation has entered into a definitive agreement to acquire Reinhold Industries from certain affiliates of  The Jordan Company, L.P., a New York-based investment firm, and Reinhold management. Reinhold will be part of HEICO’s Flight Support Group. Financial details were not disclosed, but HEICO stated that it expects the acquisition to be accretive to its

WestJet announced its first quarter results for 2013. The airline reported record net earnings of $91.1m, up from the net earnings of $68.3 million reported in the first quarter of 2012. These results mark WestJet’s 32nd consecutive quarter of profitability. Based on the trailing twelve months, the airline achieved a return on invested capital of