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Financial

Dubai Aerospace Enterprise (DAE)

Dubai Aerospace Enterprise secures US$420 million unsecured term loan with CCB

Dubai Aerospace Enterprise (DAE) a global aviation services company, has announced the signing of a US$420 million five-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (CCB). This financing initiative aims to support DAE’s future financial requirements. Firoz Tarapore, CEO of DAE, expressed his satisfaction with the

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WLFC has posted annual total revenues of US$418.6 million and pre-tax income of US$67.1 million © Shutterstock

WLFC posts record financial results for 2023

Willis Lease Finance Corporation (WLFC) has posted annual total revenues of US$418.6 million and pre-tax income of US$67.1 million. Lease rent revenue increased by US$50.6 million, or 31.1%, to US$213.1 million in 2023, compared to US$162.6 million in 2022, primarily reflecting an increase in the number of engines acquired and placed on lease, including growth

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BOC Aviation

BOC Aviation reports final results for year ended December 31, 2023

In the fiscal year ending on December 31, 2023, BOC Aviation‘s (BOC) financial performance demonstrated significant growth and resilience. Total revenues and other income experienced a notable 7% increase year-on-year, reaching US$2.5 billion. A remarkable net profit after tax of US$764 million was achieved, a substantial rise from US$20 million in 2022. Core net profit

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CAMP has agreed to acquire Avinode Group and Aviation FBO software products from World Kinect Corporation © Shutterstock

CAMP Systems International to acquire portfolio of aviation software businesses

CAMP Systems International (CAMP), a unit of Hearst, has agreed to acquire a portfolio of aviation software businesses from Miami-based World Kinect Corporation. The businesses include the Avinode Group, an air charter sourcing platform and World Kinect’s portfolio of aviation software serving fixed-base operator’s (FBO), delivering a range of aeronautical services such as fuelling, hangaring,

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© Aeromax

Crosslake Group expands portfolio with acquisition of two component MRO firms

Crosslake Group, a private financial firm specialising in investments in privately held aerospace and defence enterprises, has successfully acquired two prominent maintenance, repair and overhaul (MRO) companies based in South Florida. The acquired companies, Continental Aircraft Support, Inc. (Continental) and Magnum Aircraft Repair Services, Inc. (M.A.R.S.), are now integral members of Crosslake’s aftermarket aviation parts

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JetBlue and Spirit Airlines have terminated their merger plans

JetBlue and Spirit Airlines abandon merger plans

JetBlue and Spirit Airlines have jointly decided to terminate their merger agreement, originally slated for completion by July 24, 2024. Despite both airlines recognising the potential pro-competitive advantages of the merger, practical hurdles in meeting required legal and regulatory approvals led to this mutual decision. Joanna Geraghty, CEO of JetBlue, expressed the initial optimism behind

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HEICO

HEICO’s net income increases 23% in the first quarter 2024

HEICO has reported an increase in net income of 23% to US$114.7 million in the first quarter of fiscal year 2024, up from US$93.0 million in the first quarter of fiscal year 2023. Net sales increased 44% to US$896.4 million in the first quarter of 2024, up from US$620.9 million in the first quarter of

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© Shutterstock

NAC posts full-year 2023 net income of US$72 million

Nordic Aviation Capital (NAC) has released its annual financials for the year ended December 31, 2023. Key highlights include a net income of US$72 million, total available liquidity of US$856 million, and total assets of US$3.8 billion at year-end. The net debt stood at US$1.85 billion, with book equity reaching US$736 million. NAC owns 270

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