Financial

As the Italian Government has reversed the €2.50 municipal tax increase from September 1 2016 and revised airport guidelines, which will enable Italy’s regional airports to compete on a level playing field with airports in Rome and Milan as long as they comply with the EU’s MEIP rules. These initiatives have now allowed Pescara airport

Honeywell has reached a definitive agreement to sell Honeywell Technology Solutions Inc. (HTSI), a global provider of professional space, security, logistics and manpower services in the Government Services market, to KBR for approximately US$300m. The transaction, which is subject to customary closing conditions and required regulatory approvals, is expected to close in 2016. HTSI is

Finnair Group reported that revenue grew by 3.8% year-on-year to €1,106.0m compared to €1,065.2 in 2015. Comparable operating result was €-12.2m compared to €-41.3 in 2015. Operating result was €-17.4m compared to €-13.9m in 2015. Comparable EBITDAR was €92.7m compared to €56.5 the previous year. Net cash flow from operating activities stood at €130.0m compared

The HAECO Group reported an attributable profit of HK$1,111m for the first six months of 2016, which included a gain of HK$805m on disposal of the interest of Hong Kong Aero Engine Services (HAESL) in Singapore Aero Engine Services (SAESL). This compares with a profit of HK$254m for the equivalent period in 2015. Earnings per

Cargojet reported its financial results for the second quarter ended June 30, 2016. Total revenues for the quarter were CAD$79.3m, an increase of CAD$4.1m or 5.5% versus the 2nd quarter of the previous year. Gross margin was CAD$20.9m, an increase of CAD$13.6m or 186.3% versus the 2nd quarter of the previous year. Adjusted EBITDA was

ST Aerospace, a subsidiary of ST Engineering, reported 2nd quarter 2016 results. Revenue for 2Q2016 was US$103m higher compared to that of 2Q2015. This was due to higher revenue in the Component/Engine Repair & Overhaul (CERO) and Engineering & Materials Services (EMS) business groups, reduced partially by lower revenue in the Aircraft Maintenance & Modification

Bombardier reported consolidated revenues of US$4.3bn in the quarter and US$8.2bn for the first six-month period, relative to US$4.6bn and US$9.0bn for the same periods last year, explained for the most part by the planned reduction in business aircraft revenues. EBIT before special items was US$106m and US$236m respectively for the quarter and year-to-date, as

AeroCentury, an independent aircraft leasing company, reported second quarter 2016 earnings of US$299,000, compared to US$1.4m for the second quarter of 2015, and US$434,000, for the first quarter of 2016. Earnings reported for the second quarter of 2016 included gains of US$2.2m related to an aircraft disposition pursuant to a sales-type finance lease and insurance

DVB Bank, the international transport finance specialist, generated consolidated net income before taxes of €14.1m (previous year: €75.7m) for the first six months of 2016. Net income from financial instruments in accordance with IAS 39, generally subject to volatility, amounted to €10.0m (previous year: €63.5m). The considerable decline was primarily due to substantial non-recurring income