Financial

Avolon, the international aircraft leasing company, has placed 35% of the US$8.5bn debt financing facilities, led by Morgan Stanley & Co. (Morgan Stanley) and UBS Investment Bank (UBS), for the acquisition of the aircraft leasing business of CIT Group Inc. Avolon successfully placed US$2.975bn with five banks: Barclays; JPMorgan Chase Bank N.A.; BNP Paribas; Credit […]

Apollo Aviation Group (“Apollo Aviation”) priced its third aircraft securitization on Friday, October 28, 2016: Apollo Aviation Securitization Equity Trust 2016-2 (AASET 2016-2). AASET 2016-2 will borrow US$640m of asset backed secured term loans that will be used to acquire a fleet of 35 aircraft. “With our third ABS and second in 2016, Apollo continues

Global Aviation Services (Global) has acquired D&D GSE Support(D&D) a leading ground support equipment maintenance provider, serving the Fort Lauderdale-Hollywood International Airport (FLL). The acquisition further enhances Global’s market position in South Florida and marks the company’s first acquisition. Global intends to pursue continued expansion by acquiring high quality GSE maintenance businesses across the country.

Garuda Indonesia, the national flag carrier, reported net income of US$19.6m or IDR254.8bn (exchange rate IDR 13,000 per USD) during the third quarter (July – September period) of 2016 as an outcome of the initial implementation of the ‘Sky Beyond’ strategy, with a focus on return maximization as well as the continuous proportional implementation of

Spirit AeroSystems reported third quarter 2016 financial results driven by strong operating performance of mature programs. During the quarter, Spirit purchased 7.4 million shares for US$332m, which concludes the current US$600m share repurchase program. Spirit’s third quarter 2016 revenue was US$1.7bn, up 7% compared to the same period of 2015, primarily driven by higher production

WestJet released its third quarter results for 2016, with net earnings of CAD$116.0m, as compared with net earnings of CAD$101.8m reported in the third quarter of 2015. WestJet achieved its 46th consecutive quarter of profitability and flew a record 5.9 million guests. Based on the trailing twelve months, the airline recorded a return on invested

During 3Q16, Embraer delivered 29 commercial jets and 25 executive jets (13 light and 12 large). The Company’s firm order backlog ended the quarter at US$21.4bn versus US$21.9bn in 2Q16. Revenues in 3Q16 grew 17.9% on a year-over-year basis to US$1,514.3m, driven by higher revenues in the Commercial Aviation and Defense & Security segments. Consolidated

Global aeronautical communications provider, Satcom Direct (SD), has agreed to acquire TrueNorth Avionics, a company based in Ottawa, Canada that offers the latest technology in cabin communications solutions. With the purchase of TrueNorth, SD significantly expands its ability to provide advanced communications systems for business aviation aircraft. Founded in 2006, TrueNorth Avionics designs, develops, and

International Consolidated Airlines Group (IAG) presented Group consolidated results for the nine months to September 30, 2016. IAG reported third quarter operating profit of €1,205m before exceptional items, (2015: operating profit of €1,250m). Net foreign exchange operating profit impact for the quarter adverse €162m, Passenger unit revenue for the quarter was down 13.7% and at

Southwest Airlines reported net income of US$388m compared with third quarter 2015 net income of US$584m. Excluding special items, Southwest Airlines reported net income of US$582m compared with third quarter 2015 net income of US$623m. Operating income amounted to S$695m, resulting in an operating margin of 13.5%. The Company’s total operating revenues were US$5.1bn, driven