Elbit Systems reports second quarter of 2018 results

Elbit Systems, the international high technology company, has reported its consolidated results for the quarter ended June 30, 2018. Revenues in the second quarter of 2018 were US$892.2 million, as compared to US$818.3 million in the second quarter of 2017. Non-GAAP gross profit amounted to US$254.8 million (28.6% of revenues) in the second quarter of 2018, as compared to US$248.3 million (30.4% of revenues) in the second quarter of 2017. GAAP gross profit in the second quarter of 2018 was US$250.0 million (28.0% of revenues), as compared to US$242.3 million (29.6% of revenues) in the second quarter of 2017. The Read more

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IAI publishes financial statements for second quarter of 2018

Israel Aerospace Industries, Israel’s national defense and Aerospace company, has issued its consolidated financial statements for the quarter ended June 30, 2018. In the second quarter of 2018, the Company reported sales totaling US$895 million, representing an increase of 4.2% in sales compared to the corresponding quarter of last year, as well as net income of US$10 million and operating income of US$30 million. The Company has cash balances in an aggregate of US$1.6 billion and positive cash flows from operating activities totaling US$104 million. Yossi Weiss, the outgoing CEO of IAI: “IAI concludes the second quarter of 2018 with Read more

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CAE reports first quarter fiscal 2019 results

CAE, a global leader in training for the civil aviation, defence and security, and healthcare markets, has reported revenue of CA$722.0 million for the first quarter of fiscal year 2019, compared with CA$656.2 million in the first quarter last year. First quarter net income attributable to equity holders was CA$69.4 million compared to CA$59.6 million last year. First quarter operating profit was CA$98.5 million (13.6% of revenue) compared with CA$91.3 million (13.9% of revenue) in the first quarter of last year. Civil Aviation Training Solutions (Civil) revenue was CA$430.9 million, up 16% compared to the same quarter last year, and Read more

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BOC Aviation’ s net profit up 24% in first half 2018

BOC Aviation has reported its unaudited results for the six months ended 30 June 2018. Robert Martin, Managing Director and Chief Executive Officer, said: “BOC Aviation delivered an excellent result in the first half of 2018, earning a net profit after tax of US$297 million, which was up 24% compared with the same period last year. Revenue rose 23% from US$670 million to US$825 million, reflecting 19% growth in total assets to US$17.1 billion as at 30 June 2018, as compared with 30 June 2017. Net book value of our fleet grew to US$14.3 billion as we continued our disciplined Read more

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Azul reports adjusted net income of R$238 million, up R$277 million year over year

Azul, the largest airline in Brazil by number of cities and departures, has reported its results for the second quarter of 2018 (2Q18). Net income adjusted for non-recurring items totaled R$238.3 million, compared to a net loss of R$38.6 million in 2Q17. Adjusted operating income was R$75.8 million yielding a margin of 3.7% compared with R$98.8 million and a margin of 5.8% in 2Q17. Passenger traffic (RPKs) increased 17.4% over a capacity increase of 18.6% resulting in a load factor of 80.1%, 0.8 points lower than in 2Q17. In addition to the double-digit growth in capacity, RASK and PRASK adjusted Read more

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Air Lease Corporation reports second quarter 2018 results

Air Lease Corporation has reported that revenues increased U$17 million or 4.4% to US$398 million for the three months ended June 30, 2018 from US$381 million for the three months ended June 30, 2017. This increase was principally driven by the increase in the net book value of its fleet, partially offset by a reduction of sales and trading activity. For the three months ended June 30, 2017, Air Lease Corporation has sold 17 aircraft, generating US$18 million in gains, and for the three months ended June 30, 2018, the company chose not to sell any aircraft. Income before taxes Read more

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AeroCentury posts second quarter 2018 loss

AeroCentury, an independent aircraft leasing company, has reported a second quarter net loss of US$81,000, compared to net income of US$371,000 for the first quarter of 2018 and net income of US$356,000 for the second quarter of 2017. In the first six months of 2018, net income decreased 76% to approximately US$236,000, from approximately US$997,000 in the first six months of 2017. The second quarter and first six months of 2018 included US$0.6 million and US$1.6 million, respectively, of other income resulting from payments received from a lessee of three aircraft that were returned to the Company during 2017. Such Read more

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TUI encounters quadruple troubles, sees double-digit three-month earnings drop

It has been a tough time for Touristik Union International (TUI), the world’s largest leisure, travel and tourism company in the world, the result of which has seen the Group’s underlying earnings fall 18% to €193 million for the previous three months up to the end of June, net profit falling 31% to €110.5 million for the same period. Despite TUI’s turnover for the third quarter rising 5% to €5 billion and the Group remaining confident of achieving double-digit earnings growth this year, for the fourth year in a row, shares fell more than 9% to €15.96 in early trading Read more

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Turkish Airlines posts operating net profit for first half 2018

Turkish Airlines managed to increase both passenger and cargo revenue in the first half of 2018. Total revenue for this period increased significantly, by approximately 30% compared to the same period last year, reaching US$6 billion. During this period Turkish Airlines increased net operating profit from US$17 million to US$258 million, due to increasing demand and unit revenues, despite increasing fuel prices. In the first half of the year, EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), which is used as a cash generation indicator, stood at US$1.28 billion, a 38% increase. EBITDAR margin improved by 1.5 points to Read more

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Willis Lease Finance reports second quarter pre-tax profit of US$11.6 million

Willis Lease Finance Corporation has reported a pre-tax profitv of US$11.6 million in the second quarter of 2018, driven by strong sales in each of its leasing, spare parts and asset management businesses. The Company achieved record quarterly lease rent revenue of US$43.1 million in the period driven by continued high utilization and 14.9% growth of its portfolio to US$1.542 billion at quarter-end compared to US$1.343 billion at December 31, 2017. Aggregate lease rent and maintenance reserve revenues were $65.1 million for the second quarter 2018, up 37.5% and 85.5% respectively. As of June 30, 2018, the Company had a Read more

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