Lufthansa has completed the sale of British Midland (bmi) to International Airlines Group (IAG). The completion of the sale took place after close of business on 19th April 2012. The gross purchase price amounts to GBP 172.5m (approx. €207m). Because price adjustments were agreed as part of the transaction structure, the net purchase price will […]
Lufthansa completes sale of British Midland to IAG Read More »
International Lease Finance Corporation (ILFC) has closed a $203 million bank loan arranged and underwritten by DVB Bank. ILFC will use the financing for the acquisition of seven new aircraft delivering in 2012. The financing is for six years and is at an average rate of approximately 4.7%.
ILFC secures $203m bank loan from DVB Read More »
B/E Aerospace reported first quarter 2012 revenues of $747.3m, an increase of $147.1m as compared with the same period of the prior year. Pro forma revenue growth, giving effect to all 2011 and 2012 acquisitions as if they had occurred on January 1, 2011, was 16.9%. First quarter 2012 operating earnings increased 29.7% on the
B/E Aerospace reports record first quarter 2012 results Read More »
Alaska Air Group reported first quarter 2012 GAAP net income of $40.8m, compared to GAAP net income of $74.2m in 2011. Excluding mark-to-market fuel hedge gains of $19.9m ($12.5m after tax), the company reported first quarter 2012 net income of $28.3 million, compared to net income excluding special items of $29.5m in 2011.
Alaska Air Group reports first quarter net income of $28.3m Read More »
For the first quarter ended March 31st, 2012, AMR incurred a net loss of $1.7bn compared to a net loss of $436m in the same period of 2011. Excluding reorganization and special items, the net loss was $248m compared to the net loss of $405m for first quarter 2011. AMR recorded first quarter 2012 consolidated
AMR Corporation posts 1st quarter net loss of $1.7bn Read More »
Indra has bought 100% of the shares in the air traffic management systems company Park Air Systems Norway, from its owner Northrop Grumman Denmark. The transaction values Park Air Systems’ Norway business at an enterprise value of €42m. Park Air Systems Norway’s global consolidation into Indra, expected by May, increases Indra’s 2012 revenues growth target
Indra buys Park Air Systems Norway for €42m Read More »
International Lease Finance Corporation (ILFC) has closed a new $550m senior secured term loan. The loan will bear interest at LIBOR plus 3.75% per annum with a LIBOR floor of 1.0%, and is priced at 99.5% of par value. It will be secured primarily by a first priority perfected lien on the equity of certain
ILFC refinances $550m secured term loan Read More »
Cytec Industries announced its firm intention to acquire all of the outstanding shares of Umeco plc (‘Umeco’), an international provider of advanced composite materials, in an all-cash transaction valued at approximately $439m (£274.3m based on a 1.60 exchange rate). The board of directors of Umeco intends to unanimously recommend the transaction to Umeco shareholders. The
Cytec to acquire advanced composite materials company Umeco Read More »
L-3 Communications has entered into an agreement to acquire the assets of Thales Training & Simulation Ltd’s civil aircraft simulation and training business. The purchase price is £83m (approximately $132m) and will be funded with cash on hand. Headquartered in Crawley, United Kingdom, the business employs approximately 400 people. It is a leading manufacturer of
L-3 agrees to acquire Thales’ civil aircraft simulation & training business Read More »
Etihad Airways continued its growth in the first quarter of 2012, with a 28% rise in revenue to $989m over the corresponding period in 2011 and passenger numbers soaring by 500,000 to 2.4m. The airline said traffic rose during the first quarter by 26.6% to 10.9bn, thanks to growth in capacity through new routes, additional
Etihad Airways adds 500,000 passengers as revenues surge 28% in first quarter Read More »
