Financial

SAS has entered into a slot transaction with a major international air carrier that will take over one slot-pair at London Heathrow from SAS at the beginning of the summer traffic program on March 29th 2015. The transaction will generate a positive earnings impact of the equivalent of US$60m for SAS to be accounted for […]

WestJet reported its fourth quarter and year-end results for 2014, with record adjusted full-year net earnings of CA$317.2m. This compares with the net earnings of CA$268.7m in the full-year 2013, up 18% and 21%, respectively. For the fourth quarter, the airline reported record diluted earnings per share of CA$0.70, up 35% from CA$0.52 reported last

BOC Aviation has priced a private placement of offshore RMB250m five-year fixed rate senior unsecured notes. The transaction, arranged by DBS Bank, was issued off BOC Aviation’s US$5bn Euro Medium Term Note Programme. The sale of the Notes is expected to close on February 2015, subject to satisfaction of customary closing conditions. The Notes were

SAS is completing the acquisition of Cimber after meeting all of the terms of the transaction, including approval from the Danish Competition and Consumer Authority. SAS has appointed Kent Hansen as the new president of the airline. He will succeed the current president on March 1st, 2015. SAS has also appointed Kjetil Grønevik as Finance

Esterline Corporation, a leading specialty manufacturer serving aerospace and defense markets, has completed its acquisition of the aerospace and defense display businesses of Belgium-based Barco N.V. for €150m, or approximately US$175m, in cash. The company financed the acquisition primarily using international cash reserves, with the balance funded by borrowings under its existing credit facility. Barco’s

GE Capital Aviation Services (GECAS), the aircraft leasing unit of GE (GE), completed and closed its acquisition of Milestone Aviation Group, the Dublin-based helicopter lessor, for US$1.775bn plus the assumption or payoff of Milestone’s existing debt. “The acquisition of Milestone is a key part of our growth strategy for 2015 and beyond as we add

Nordic Aviation Capital A/S (NAC), the global leader in turboprop leasing, has closed a landmark US$300m debt facility. The company will use the proceeds to part finance the acquisition of turboprop and regional jet aircraft, which will then be leased to airline partners around the world. Søren M. Overgaard, CFO, added: “This facility, which has

The Finnish Competition and Consumer Authority has approved the transaction in which Flybe Uk’s 60% ownership of Flybe Nordic venture will be transferred to StaffPoint Holding and G.W. Sohlberg (GWS). The letter of intent on this transaction was announced on January 7th 2015. Upon completion of the sale, StaffPoint’s ownership in the joint venture will

JetBlue reported operating income of US$169m in the fourth quarter. This compares to operating income of US$115m in the fourth quarter of 2013. For the full year 2014, JetBlue reported operating income of US$515m. This compares to operating income of US$428m in 2013. Pre-tax income of US$140m in the fourth quarter. This compares to pre-tax