Financial

AerCap Holdings has completed the closing of a new US$0.7bn secured credit facility. The facility will primarily be used to acquire new narrowbody and widebody aircraft as they deliver from Boeing and Airbus through the end of 2016. The facility was signed to finance a portfolio of 9 aircraft and has a maturity date of […]

Dubai Aerospace Enterprise (DAE) reported net income for 2015 of US$610.4m (AED2,243m), an increase of 283% from US$159.5m (AED586m) in 2014. Revenue for full year 2015 increased to US$408.0m (AED1,499m) from US$389.5m (AED1,431m) for full year 2014. Revenues for 2014 are restated to exclude the results of StandardAero, which was sold in July 2015. DAE

LATAM Airlines Group closed a 3-year senior secured revolving credit facility (“RCF” or, the “Facility”) in the amount of US$275m. This transaction is in line with the Company’s focus on maintaining adequate levels of liquidity considering the current volatile market conditions. The use of proceeds will be for general corporate purposes and to boost the

For the year ended 31st December 2015, the Virgin Atlantic Group is reporting a profit before tax and exceptional items of £22.5m. This represents an improvement of £10.1m on the previous year’s result when adjusted for IFRS reporting and is driven by growth at both Virgin Atlantic and Virgin Holidays. Virgin Holidays performed strongly and

Fort Worth-based Novaria Group announced the acquisition of substantially all the assets of Ferco Tech, L&E Engineering, and GGF Manufacturing. The three business units, collectively operating as Ferco Aerospace, supply the world’s largest aircraft engine manufacturers with high-strength and temperature-resistant brackets, tube assemblies, and other exotic metal fabrications. These acquisitions are highly complementary to Novaria’s

AAR reported third quarter fiscal year 2016 consolidated sales of US$402.8m and income from continuing operations of US$10.7m. Third quarter results from continuing operations include an approximate US$1.6m reduction in income tax expense. For the third quarter of the prior fiscal year, the Company reported sales of US$380.1m and income from continuing operations of US$1.9m.

El Al concluded 2015 with a net profit of approx. US$106.5m, compared to a loss of approx. US$-28m in the last year. Profit before tax amounted to approx. US$144.6m compared to a loss before tax of approx. US$-38m in 2014. Revenues in 2015 amounted to approx. US$2.054bn, compared to US$2.081m in 2014. Operation costs decreased

Aircastle announced the pricing of US$500m aggregate principal amount of its 5.00% senior notes due 2023 (the “notes”). The notes were priced at par. Aircastle plans to use the net proceeds of the offering for general corporate purposes, which may include the acquisition of aircraft or the refinancing of its existing indebtedness. The offering is

Lufthansa Technik AG, headquartered in Hamburg, increased its turnover and profit in 2015, continuing its growth course. Sales revenues grew by 17.6% to around €5.1bn (up €762m). The company achieved 20% growth in its adjusted EBIT (Earnings Before Interest and Taxes) to €454m (previous year: €380m). “This is a strong result,” said the Chairman of

In 2015, the Lufthansa Group generated revenues of €32.1bn, a 6.8% increase on the previous year. The Adjusted EBIT, the leading indicator of economic success, increased by 55% to €1.8bn. Hence, the result sits within the forecast range defined last October, even including some €100m earnings impact as a result of strikes in the fourth