Category: Financial

Bombardier has released its 2019 business unit guidance and confirmed that it remains on track to achieve its 2020 financial objectives. The 2019 guidance reflects the anticipated closing of the sale of both Business Aircraft’s flight and technical training activities and the Q Series aircraft program as of September 30, 2019. For 2019, Bombardier is targeting revenues of US$18 billion or more, representing a year-over-year increase of approximately 10% over 2018 guidance. This growth is expected to be driven by: the entry-into-service of the Global 7500 aircraft, which is sold out through 2021; execution on Bombardier’s strong US$34-billion rail backlog, Read more

Lufthansa Cargo is stepping up its cooperation with startup cargo.one and has acquired a minority shareholding in the Berlin company. Lufthansa Cargo is thereby making the switch from early adopter to minority investor. Berlin-based cargo.one was founded in 2017. The startup has developed a platform for booking and marketing air cargo capacity. Through its focus on offering dynamic spot rates and enabling their booking, cargo.one is the first platform of its kind. Lufthansa Cargo already invested in a technology startup – Fleet Logistics – based in Portland, USA, back in early 2018. Founded in 2014, Fleet Logistics acts as an Read more

MTU Aero Engines AG (MTU) has released at its Capital Market Day that: “In the short and long term, the prospects for growth in all business units are better than originally assumed” with net income to rise steadily along with further improvements in free cash flow. Commercial new engine business looks to be the fastest growing segment with a low-teen income increase, while engine parts’ revenue is expected to increase in the mid-to-high single-digit percentage range. Military business revenue is anticipated to increase by around ten percent. Commercial maintenance business should remain at the same high level as 2018. The Read more

Aviation Capital Group (ACG) has reported the closing of its sale of US$800 million aggregate principal amount of senior unsecured notes, consisting of US$300 million aggregate principal amount of its 4.375% senior unsecured notes due 2024 and US$500 million aggregate principal amount of its floating rate senior unsecured notes due 2021. ACG intends to use the net proceeds from the Notes for general corporate purposes, including repayment of outstanding indebtedness and the purchase of commercial aircraft. The Notes are recourse only to ACG and are not guaranteed by any of ACG’s equity holders or subsidiaries, or any third party.

AEGEAN Air has announced 2018, 9-month results with consolidated revenue at €939.3 million, 5% higher than 2017. Pre-tax earnings rose 14% to €115.8 million and net earnings after tax were up 13% to €80.9 million. During the 9-month period to September 30, 2018, AEGEAN and its subsidiary Olympic Air, carried 10.8 million passengers, 6% more than the previous year, with 4.8 million in domestic and 6 million in the international network. Total passengers from/to Athens hub traveling on international routes increased by 12%. Load factor improved to 83.6% from 82.9% in 2017 as a result of efficient revenue and network Read more

Safran’s shareholders were invited to consider mainly the plan to merge Zodiac Aerospace into Safran at a meeting on November 27, 2018. All the resolutions submitted to the shareholders’ vote were approved. Following presentations by Safran of the merger plan and notably the reports of the merger appraisers concluding that the exchange ratio is fair, the shareholders approved notably the merger of Zodiac Aerospace into Safran with 99.88% voting in favor. With the approval at the meetings on November 27, respectively of Zodiac Aerospace and Safran shareholders, all the conditions precedent have been satisfied. Therefore, the merger will complete on Read more

Dubai Aerospace Enterprise (DAE) has released that its Board of Directors and Shareholders had authorized an additional US$300 million for bond repurchases to be conducted through open market transactions. To date, DAE has repurchased US$295 million of principal amount of its publicly traded bonds under the previous authorization of US$300 million. DAE Chief Executive Office Firoz Tarapore said: “The current trading levels of our bonds are not consistent with our current credit ratings, strong financial performance or our projected ratings trajectory. We continue to generate cash and capital at a rate that allows us the flexibility to remove inefficient components Read more