Financial

Having posted a net profit for the same period one year ago of US$877 million, Turkish Airlines has posted a net loss of US$463 million for the nine-month period, 2016. This comes despite a 4% increase in passenger numbers at 48.3 million. Revenues decreased 6.1% to US$7.6 billion, while an operating loss of US$154 million […]

Thales announced a major investment in next generation aircraft communications technology with the commitment to a jointly funded £20 million research project in partnership with the government funded Aerospace Technology Institute (ATI) and the opening of a state-of-the-art customer engagement suite in the UK. This investment reflects the strategic value that Thales and the UK

The Emirates Group posted its half-year results for 2016-17. Emirates Group revenue was AED 46.5bn (US$12.7bn) for the first six months of its 2016-17 financial year, up 1% from AED 46.0bn (US$12.5bn) during the same period last year. Following one of its best ever half-year profit performances last year, the Group for 2016-17 reported a

Ontic, a BBA Aviation company and an aerospace industry’s leading provider of ‘Extended Life Solutions’ for OEM legacy products, has reached an agreement to acquire a portfolio of legacy avionics products (the “Business”) from GE Aviation. The Business incorporates a portfolio of legacy avionics parts servicing the military and commercial aviation markets, including electro mechanical,

As part of SAS’s focus on optimizing the capital structure and reduce financing costs, SAS has agreed to refinance two Boeing 737 and four Airbus A319 with a credit facility of US$75m including Standard Chartered Bank and Norddeutsche Landesbank. The facility matures in January 2023. The aircraft will be refinanced in the period until January

Avianca Holding reported that operating income (EBIT) increased in the third quarter 2016, reaching US$83.4m, with an improved operating margin of 7.9%. This represents a 36 bps quarter on quarter increase resulting from efficiencies derived through the Company’s expense reduction program and revised hedging policy. Operating revenues reached US$1.1bn for the quarter. EBITDAR for the

Trenchard Aviation, a civil aircraft maintenance business focusing on cabin services, has acquired Reheat International, a specialist repairer of on board galley equipment and cabin interior products. The acquisition is the third since Graphite Capital, a leading mid-market private equity specialist, financed the management buy-out of Aero Technics in November 2015. The acquisition of Reheat

AerCap reported net income of US$225.6m, compared with US$293.9m for the same period in 2015. The company reported earnings per share (diluted) of US$1.22, compared with US$1.48 for the same period in 2015 and adjusted net income of US$310.6m, compared with US$327.0m for the same period in 2015. Adjusted earnings per share (diluted) of US$1.68,

BP announced the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum BioEnergy, a pioneer in the development and production of low-carbon jet fuel, in which BP will invest US$30m. As an equity investor, BP has secured a 10 year offtake agreement with Fulcrum for 50 million US gallons

LOT has executed a strategic partnership agreement with the Estonian national carrier – Nordica, and is intending to take up 49% of shares in its subsidiary – Regional Jet, which operates a fleet of modern regional planes from the Bombardier CRJ family. Starting on the 19th of November, LOT will use its designator for all