Qantas posts record first half profit, starts taking delivery of 18 A321LR neo aircraft

The Qantas Group has delivered its highest-ever first half Underlying Profit Before Tax of AU$976m for the six months ending 31 December 2017. The result surpasses the previous record of AU$921m achieved in the first half of FY16 and comes despite recent increases in fuel costs and continued international capacity growth. Both Underlying and Statutory profit before tax were significantly higher (15% and 20% respectively) than the first half of FY17. Net debt continued to fall and remains towards the bottom of the range, at AU$5.1bn. Sixty per cent of the Group fleet is unencumbered, including two new 787-9s purchased Read more

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flydubai sees strong growth in revenues

Flydubai has reported its Full-Year Results for the year ending 31 December 2017. flydubai reported total revenue of AED 5.5bn (US$1.5bn) compared to AED 5bn (US$1.37bn) last year; an increase of 9.2% compared to the same period reported in last year’s results. The airline reported a profit of AED 37.3m (US$10.1m) for the full year 2017; the airline has continuously reported Full-Year profitability since 2012. Flydubai carried 10.9 million passengers – a record number for the airline. Passenger numbers grew by 5.5% compared to the previous year. With up to 295 aircraft on order flydubai becomes one of the world’s Read more

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Avolon’s revenue reaches US$2.4bn in 2017

Avolon, the international aircraft leasing company, has released results for the 2017 full year. The year was headlined by the acquisition and integration of CIT’s aircraft leasing business. Avolon’s owned, managed and committed fleet grew 109% in 2017 to 908 aircraft by year-end and full year profit after tax increased 59% to US$550m. Avolon reported 107 aircraft deliveries, transitions and sales, including the delivery of 45 new aircraft. The company sold 44 aircraft, including 29 owned aircraft and 15 managed aircraft, across the combined platform in 2017. Owned, managed and committed fleet increased by 109% year-on-year to 908 aircraft at Read more

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Air Canada reports 2017 annual results

Air Canada has reported full year 2017 EBITDAR of CA$2.921bn compared to the previous full year 2016 EBITDAR of CA$2.768bn, an increase of CA$153m. Air Canada reported 2017 operating income of CA$1.364bn compared to 2016 operating income of CA$1.345bn. Adjusted pre-tax income amounted to CA$1.158bn in 2017 compared to adjusted pre-tax income of CA$1.148bn in 2016. On a GAAP basis, the airline reported income before income taxes of CA$1.279bn in 2017 compared to income before income taxes of CA$877m in 2016. Air Canada recorded adjusted net income of CA$1.142bn in 2017 compared to adjusted net income of CA$1.147bn in 2016.

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Bombardier reports solid financial and operational performance for 2017

Bombardier has reported its fourth quarter and full year 2017 results, highlighting solid financial and operational performance across the company. In 2017, Bombardier’s full-year EBIT before special items grew 57% year-over-year, from $427m to US$672m, while EBITDA before special items reached close to US$1bn. Full year EBIT margins exceeded guidance at Transportation, Business Aircraft and Aerostructures. Before special items, EBIT margins were 8.4% at Transportation and Business Aircraft; and 10.0% at Aerostructures. Consolidated revenues for the year were US$16.2bn, in line with its guidance. Free cash flow performance for 2017 was better than guidance by more than US$200m, with a Read more

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Airbus posts full year 2017 results

Airbus has reported 2017 revenues of €66.8bn (2016: €66.6bn) with higher aircraft deliveries offset by a reduction in revenues of around €2bn from the perimeter changes. Commercial Aircraft revenues rose by 3.5% with record deliveries of 718 aircraft (2016: 688 aircraft) comprising 558 A320 Family, 78 A350 XWBs, 67 A330s and 15 A380s. Helicopters’ revenues were slightly lower with deliveries of 409 units (2016: 418 units). Revenues at Defence and Space reflected the Division’s perimeter changes of around €1.7bn but were 7% higher on a comparable basis driven mainly by military aircraft. EBIT Adjusted increased to €4,253m (2016: €3,955m). Commercial Read more

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AerCap reports financial results for full year 2017

AerCap has posted fourth quarter 2017 net income of US$266.3m compared to US$364.7m for the same period in 2016. The decrease in net income was primarily due to the fact that during the fourth quarter of 2016, AerCap recognized income from lease terminations and a gain related to the repayment of a note receivable earlier than expected. Full year 2017 net income was US$1,076.2m compared to US$1,046.6m for 2016. AerCap executed 402 aircraft transactions in 2017, including 119 widebody transactions and ordered 30 Boeing 787 aircraft and 50 Airbus A320neo Family aircraft. AerCap’s Board of Directors approved a new share Read more

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LCI partners with CIT and Prudential Group on inaugural capital markets financing

Lease Corporation International (LCI), a leading helicopter lessor and aviation division of the Libra Group, has closed its inaugural capital markets term loan financing, with a value in excess of US$55m. The private, senior secured tranches have a maturity of five years, and were offered to a range of US financial institutions. CIT Group and Prudential Capital Group, the private capital investment arm of PGIM, the US$1 trillion global investment management businesses of Prudential Financial, jointly funded the financing. LCI is using the proceeds from the financing to fund the continuing expansion of its fleet with the acquisition of six Read more

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Wesco Aircraft exceeds predicted first-quarter profits

Wesco Aircraft Holdings (WAIR) has posted a first-quarter loss of US$374,000 after making a profit for the same period last year. On a per-share basis, the California-based company confirmed it had a loss of less than one cent, while earnings, adjusted for non-recurring costs, were 15 cents per share. This figure exceeded Wall Street expectations and analysts who predicted 12 cents per share. Revenue for the period stood at US$363.1 million. Wesco Aircraft Holdings (formerly known as Wesco Holdings, Inc.) is a holding company for Wesco Aircraft Hardware Corp. and is a distributor and provider of supply chain management services Read more

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Alyssum Group acquires RocketRoute

Newly-formed investment vehicle Alyssum Group has acquired aviation services company RocketRoute as part of its long-term strategy to transform the entire private aviation industry. Specifically, RocketRoute’s best-in-class technology platforms FlightPlan and MarketPlace – delivering innovative flight-planning, fuel and concierge services – will be integrated into a connected digital marketplace that Alyssum Group, owner of global jet charter marketplace Victor, will create to seamlessly and transparently service all within private aviation. This includes customers, charter brokers, operators and suppliers. Victor’s own customers and operator clients immediately stand to benefit. By harnessing RocketRoute’s dynamic industry data and services, Victor – with whom Read more

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