IBC Advanced Alloys pays-off mortgage on its copper alloys manufacturing facility

IBC Advanced Alloys, one of the leading beryllium and copper advanced alloys companies, has announced that it has completed payments on its US$1.7 million mortgage term-loan on its copper alloys manufacturing facility in Franklin, Ind. Paying off this mortgage is part of IBC’s primary corporate strategy of reducing its debt burden. “I am very pleased to announce that we have been able to pay-off our sole mortgage as part of our ongoing effort to reduce corporate debt,” said Mark A. Smith, CEO and Director of IBC. “It is especially exciting that continuing strong sales across both of our operating divisions are strengthening Read more

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American Airlines posts full-year 2021 net loss of US$2.0 billion

©American Airlines

American Airlines Group has reported its fourth-quarter and full-year 2021 financial results, including: fourth-quarter revenue of US$9.4 billion, down 17% versus the same period in 2019 on a 13% reduction in total available seat miles (ASMs) versus the same period in 2019. The Group reported fourth-quarter net loss of US$931 million, excluding net special items, fourth-quarter net loss was US$921 million. Full-year net loss was US$2.0 billion, excluding net special items, full-year net loss was US$5.4 billion. American Airlines Group transported more than 165 million passengers in 2021 and ended the fourth quarter with US$15.8 billion of total available liquidity. Read more

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United Airlines achieves fourth-quarter financial targets and reiterates long-term commitments

©United Airlines

United Airlines (UAL) has reported its fourth-quarter and full-year 2021 financial results and reiterated confidence in its longer-term United Next financial targets. The company achieved every major financial guidance target for the fourth quarter – and set a new Net Promoter Score (NPS) record in 2021 – despite the sharp spike in COVID-19 cases caused by the Omicron variant. Despite near-term volatility, bookings for spring travel and beyond remain strong, which is why the Omicron spike has not altered the airline’s confidence in the 2023 and 2026 CASM-ex United Next targets announced last year. The airline starts 2022 with a scaled-back Read more

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Delta Air Lines reports financial results for the December quarter and full year 2021

©Delta Air Lines

For the fourth quarter 2021 Delta reported adjusted pre-tax income of US$170 million, excluding a net impact of US$564 million primarily in equity method losses, mark-to-market adjustments on investments and special profit-sharing payment. Adjusted operating revenue of US$8.4 billion, which excluded third-party refinery sales, was 74% recovered versus December quarter 2019 on capacity that was 79% restored. Total operating expense decreased US$833 million compared to the December quarter 2019. Adjusted for costs from third-party refinery sales, total operating expense decreased US$1.9 billion or 19% in the December quarter 2021 versus the comparable 2019 period. At the end of the December Read more

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Aernnova Aerospace to buy Embraer’s Portuguese subsidiaries

©Embraer

Spain-based Aernnova Aerospace (Aernnova), an international reference company in the supply of aerostructures, has agreed to purchase Embraer’s Portugal-based subsidiaries Embraer Metálicas and Embraer Compósitos industrial units located on the Évora Aeronautical Industry Park for US$172 million (£125.5 million), subject to adjustments on the closing date. The two enterprises, which extend over 37,100 and 31,800 square metres, respectively, employ over 500 staff and are responsible for the production of state-of-the-art composite and metallic airframe structures, including those for the Praetor 500 and Praetor 600 business jets, the two generations of the E-Jets family of commercial jets and the KC-390 Millennium Read more

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Jet Edge International receives further investment from KKR

Jet Edge International, the Ohio-based private aviation company, has raised an additional US$75 million of funding from credit funds and accounts managed by KKR. The new funding expands KKR’s total credit and equity investments in Jet Edge to approximately US$265 million over the past year. Following the initial US$150 million credit facility announced in June 2021, KKR has continued investing in Jet Edge amidst historic demand for its direct-to-consumer Reserve Membership programme. Jet Edge will utilize the funding to further expand the company’s extensive large-cabin and super-mid-size fleet. The latest round of capital for Jet Edge follows the company’s successful Read more

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Heston MRO signs purchase agreement for Cairns MRO facility

Cairns MRO facility ©Heston MRO

Heston MRO, an independent MRO organization, has signed a purchase agreement for the acquisition of the Cairns MRO facility from Jet Aviation. Upon completion, the new acquisition will expand Heston MRO capabilities into full heavy maintenance for regional aircraft, as well as state-of-the-art avionic repair shops for a wider range of aircraft types. Established more than 20 years ago and expanded significantly in 2018, the Cairns MRO centre has been initially operating under Hawker Pacific and recently under the Jet Aviation brand. It is one of the most-modern, well-invested and up-to-date heavy maintenance and avionics repair facilities in Australia. Staffed with circa 150 experienced employees and contractors, housed in 5400 m² of recently Read more

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Air Lease Corporation announces pricing of public offering of US$1.5 billion of senior unsecured medium-term notes

Air Lease Corporation has announced the pricing of its public offering of US$750.0 million aggregate principal amount of 2.20% senior unsecured medium-term notes due January 15, 2027 (the 2027 notes) and US$750.0 million aggregate principal amount of 2.875% senior unsecured medium-term notes due January 15, 2032 (the 2032 notes and, together with the 2027 notes, the notes). The sale of the notes is expected to close on January 12, 2022, subject to satisfaction of customary closing conditions. The 2027 notes will mature on January 15, 2027 and will bear interest at a rate of 2.20% per annum, payable semi-annually in Read more

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StandardAero signs definitive agreement to purchase PTS Aviation

StandardAero has signed a definitive agreement to purchase boutique asset management company PTS Aviation, a worldwide supplier of serviceable aircraft engines, engine components and engine inventory. Founded in 1995, PTS has more than 150 years of combined aviation management experience and significant expertise buying, leasing and selling engines, modules and used serviceable material (USM). PTS is headquartered in Miramar, FL. and is a private company; terms of the transaction were not disclosed.  The deal marks StandardAero’s tenth acquisition since March 2015.  Most recently, the company acquired Signature Aviation’s Engine Repair and Overhaul (ERO) business, an engine MRO provider that includes Read more

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Caeli Nova raises CHF 8 million in Series A funding to deliver new emergency oxygen system onto passenger aircraft

Caeli Nova, innovating at the intersection of aviation and healthcare, has successfully closed its Series A round of financing. This latest round of investment will allow the breathing technology developer to take greater strides in enhancing its technology and to bring its first products to the market. Cordillera, Caeli Nova’s launch product, is an advanced aircraft emergency oxygen system that overcomes limitations associated with the existing technology, while significantly reducing costs and carbon emissions for airlines by enabling aircraft to fly the most direct routes. The company is aiming to install Cordillera onto first aircraft during 2022. LG Capital, the Read more

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