Financial

Norwegian’s leasing platform Arctic Aviation Asset closed a PDP financing for four B787-9 aircraft on May 3, to be delivered in the fourth quarter of 2017 and first quarter of 2018. DVB is the arranger and lender of the PDP financing providing a revolving credit facility. Pillsbury is the legal advisor for DVB and Hogan […]

Air Canada reported first quarter 2017 EBITDAR, excluding special items, of CA$342m, compared to first quarter 2016 EBITDAR of CA$460m. The airline recorded a first quarter EBITDAR margin of 9.4%, better than the margin projected in Air Canada’s February 17, 2017 news release. On a GAAP basis, Air Canada reported an operating loss of CA$54m

Norwegian has signed an agreement with a new syndicated structure regarding financing of all six 737 MAX 8 aircraft with delivery in 2017. In addition three 737-800s will be financed with sale and leaseback. Norwegian’s subsidiary Arctic Aviation Assets (AAA) has completed financing of six Boeing 737 MAX 8 aircraft with an insurance guaranteed financing

International Airlines Group (IAG) presented Group consolidated results for the three months to March 31, 2017. The Group’s operating profit for the period was €170m, an increase of €15m versus last year, or €47 million at ccy. In 2017, the Group recognised an exceptional charge of €1m related to the continuation of British Airways transformation

Air Lease Corporation (ALC) has reported financial results for the three months ended March 31, 2017. Revenues for the quarter improved 4.9% to US$360.2m. Income before taxes dropped 7.0% to US$133,878m. Net income for the first quarter was down 8.5% to $84,937m compared to the first quarter of 2016. Air Lease Corporation added 11 aircraft

Spirit’s first quarter 2017 revenue was US$1.7bn, up by 1% compared to the same period of 2016, primarily driven by higher production deliveries on the Airbus A350 XWB, partially offset by lower production deliveries on the Boeing 777 program. Spirit’s backlog at the end of the first quarter of 2017 was approximately US$46bn, with work

Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, has acquired a significant minority stake in Axtmann Aviation Holding GmbH, that operates FAI Aviation Group (FAI), a leading global provider of mission-critical aviation services, offering fixed-wing air ambulance, special missions, charter and aircraft management, as well as full MRO services.

West Star Aviation has announced its acquisition of Dallas Aeronautical Services (DAS), a leading composite, structures and assembly repair shop located in Cedar Hill, TX. Founded in 2004 as an engineering and design company to help repair stations find new ways to repair composite components, DAS is a FAA/EASA Part 145 Repair Station providing service

Air Transport Services Group reported consolidated financial results for the quarter ended March 31, 2017. Revenues increased 34% US$237.9m. Excluding revenues from reimbursable airline expenses, revenues increased 23%. Revenues from ATSG’s airline, maintenance, and logistics businesses increased significantly. Earnings from Continuing Operations were US$9.8m, compared with US$8.2m a year earlier. These GAAP results include both

For the first quarter of 2017 (1Q2017) Leonardo reported that new orders amounted to €2,647m, 3% higher than in the first quarter of 2016 (1Q2016). The book-to-bill ratio reached 1.1 compared to 1 of the same period of 2016. The order backlog amounted to €34,832m (+25% vs. March 2016). This is increasingly solid as it