Category: Financial

Aircraft leasing company SMBC Aviation has reported its results for the financial year ended March 31, 2020. The company reported profit before tax of US$364.5 million, an increase of almost 5.8% y/y. Total aircraft operating lease assets grew by 3.7% to US$10.6 billion – a lower than anticipated level of asset growth due to the grounding of the B737 MAX aircraft and Airbus A320neo delays. Core lease rentals increased by US$55.8 million to US$1.1 billion – a 5.5% increase. The company reported EBITDA of US$1.1 billion with EBITDA to interest coverage remaining strong at 3.6 times. SMBC will defer deliveries Read more

Avia Solutions Group has decided to sell Baltic Ground Services Poland, a subsidiary of the Group’s family member, Baltic Ground Services (BGS). With flights being grounded during the pandemic and competition with the Poland’s state-owned service providers being high, Avia Solutions Group believes that the sale of Baltic Ground Service Poland is an optimal solution. The subsidiary constituted only 2.2% from total pro forma consolidated revenues of Avia Solutions Group PLC. BGS PL offers passenger and aircraft handling, into-plane fuelling and de-icing/anti-icing services and provides high-quality solutions to international customers.

Thoma Bravo, a private equity investment firm focused on the software and technology-enabled services sector, has announced an agreement to acquire Exostar, a leader in trusted, secure business collaboration for the highly-regulated aerospace and defense, life sciences and healthcare industries. Thoma Bravo’s strategic investment is expected to help Exostar accelerate business growth and broaden its existing customer base. The transaction is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed. Exostar’s unique platform creates trusted communities where companies can manage the complexity and mitigate the risks associated with collaborating with external partners. Thoma Bravo Read more

Embraer delivered five commercial jets and nine executive jets (five light / four large) in the first quarter of 2020, and the company’s firm order backlog at the end of the quarter was US$ 15.9 billion. EBIT and EBITDA as reported were US$-46.9 million and US$9.3 million, respectively, yielding EBIT margin of -7.4% and EBITDA margin of 1.5%. This compares to EBIT of US$-15.2 million (-1.8% EBIT margin) and EBITDA of US$30.9 million (3.8% EBITDA margin) in the first quarter of 2019. The first-quarter results include special items due to the impacts of COVID-19: 1) US$22.2 million in negative fair Read more

HEICO Corporation has reported that net income increased 22% to US$197.3 million in the first six months of fiscal 2020, up from US$161.1 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, net income decreased 8% to US$75.5 million as compared to US$81.8 million in the second quarter of fiscal 2019. Operating income increased 1% to US$219.2 million in the first six months of fiscal 2020, up from US$217.1 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, operating income decreased 9% to US$108.2 million, as Read more