Financial

Astronics Corporation announced a one-for-four distribution of Class B Stock to holders of both Common and Class B Stock. Stockholders will receive one share of Class B Stock for every four shares of Common and Class B Stock held on the record date of October 6, 2008. Fractional shares will be paid in cash. The […]

AAR reported fiscal 2009 first quarter net sales of $359.9 million and income from continuing operations of $18.7 million. Sales grew 18% from $306.0 million in last year’s first quarter, and income from continuing operations increased 23% from $15.3 million in the prior year. Sales to defense customers increased 32% and sales to commercial customers

Chicago-based BCI Aircraft Leasing has signed a letter of intent for a sale and leaseback transaction with China Airlines. The deal will include a 2006 Airbus A330-300 commercial aircraft which will be operated in passenger service on long-term lease by the Taiwan-based carrier.

AMR Corporation, the parent company of American Airlines, has completed the sale of American Beacon Advisors, its wholly owned asset-management subsidiary, to Lighthouse Holdings, which is owned by investment funds affiliated with Pharos Capital Group, LLC and TPG Capital, L.P., two leading private equity firms. AMR received a total consideration of $480 million. While primarily

Gulfstream International Group has entered into an agreement to sell to an institutional investor $5.10 million in face amount of secured original issue discount debentures (the “Senior Debentures”). In addition, Gulfstream will issue to the Investor a warrant to purchase 578,870 shares of Gulfstream common stock, exercisable at nominal value. The Investor has the right

Airbus and GKN have signed a contract under which GKN will purchase the wing component and assemblies manufacturing unit based at Airbus’ site at Filton, near Bristol, UK. This will result in all operational business, assets and activities, within the parameters agreed, being transferred to GKN. As a result of the transaction, GKN is fully

Lufthansa takes a strategic equity share in Brussels Airlines Acquisition of 45% for 65 million euros / Acquisition of remaining 55% intended Brussels Airlines is embarking on a new future with Lufthansa: Lufthansa Chairman Wolfgang Mayrhuber and SN Airholding Chairman Eitienne Davignon have signed an agreement, which initially envisages a strategic stake in SN Airholding

Britain’s third largest tour operator faced bankruptcy as a result of soaring fuel costs and the credit crunch. XL Leisure Group Plc, XL Airways UK Limited, Excel Aviation Limited, Explorer House Limited, Aspire Holidays Limited, Freedom Flights Limited, Freedom Flights (Aviation) Limited, The Really Great Holiday Company plc, Medlife Hotels Limited, Travel City Flights Limited,

Alaska Airlines said it is reducing capacity 8% compared to a year ago, effective with its winter schedule starting Nov. 9 and continuing into 2009. The reduction in capacity represents 15% fewer departures. As a result, Alaska Airlines is reducing its work force by 9 to 10%. “The one-two punch of record oil prices and

The Magellan Group released that ACG Investment Capital Partners, a joint venture between the Aviation Capital Group and FB Transportation Capital LLC, has made an investment in the Magellan Group. The additional capital combined with the relationship with two premier firms in the aviation industry will enable Magellan to continue the strong growth achieved since