Héroux-Devtek, a leading Canadian manufacturer of aerospace products, has reached an agreement with a syndicate of banks to amend and restate its existing Credit Facility. Under the terms of the agreement, the Facility has been extended for a three-year period with a new maturity date set for March 16, 2019. The authorized amount has been
BOC Aviation achieved a record net profit after tax in 2013, marking an unbroken run of 20 years of profitability since it was founded in November 1993. For the financial year ended 31st December 2013, the Company earned US$277m in net profit after tax, 23% higher than the previous year. Total assets were US$10.2bn, rising
Airbus Group successfully priced a new 10-year bond offering denominated in euros on March 25th, 2014. This €1bn transaction is the first bond issue for the newly rebranded “Airbus Group” and marks the return of the company to the euro debt capital markets after almost five years. The offering was very well received by the
Virgin America reported fourth quarter 2013 net income of $14.2m, compared to a year ago quarterly loss of $25.0m, an improvement of $39.1m. Operating revenue totalled $359.9m, an increase of 2.7% from the fourth quarter of 2012. Operating income totalled $24m, an increase by $18.4 million year-over-year. Operating margin was 6.6%, an increase of 5.1
Lufthansa Cargo achieved an operating profit of €77m in the last financial year, €28m less than in the previous year. Numerous projects in the “Lufthansa Cargo 2020” future programme were vigorously pursued; fleet modernisation was successfully initiated. A significantly higher result is expected in 2014. Lufthansa Cargo Chairman and CEO, Karl Ulrich Garnadt, emphasised at
DVB Bank, which is focused on international transport finance, posted consolidated net income after taxes of €110.2m, down 11.8% year-on-year (2012: €124.9m). This decline was mainly due to a special effect which impacted on the previous year’s figure: net other operating income/expenses for 2012 included a significant non-recurring effect from the sale of a stake
Precision Castparts Corp. has agreed to acquire Aerospace Dynamics International (ADI) from The Marvin Group for $625m. ADI is one of the premier suppliers in the aerospace industry, operating a wide range of high-speed machining centers. ADI has developed particular expertise in large complex components, hard metal machining, and critical assemblies. The company has strong
International technology group RUAG posted slightly higher net sales of CHF 1,752m in 2013 (previous year: CHF 1,741m). Earnings before interest and taxes (EBIT) came to CHF 115m, similar to the previous year’s level (CHF 113m). The EBIT margin (EBIT/operating performance) increased slightly to 6.6% (6.3%), while net profit rose by CHF 16m to CHF
Revenues from operations for the present year grew by about $2103.00m compared to $2015.6m in 2012, a 4% increase. Passenger revenues grew by about 4.9%, largely as a result of increased passenger numbers. Cargo revenues decreased by about 3.3% as a result of the drop in the average ton-kilometer revenue. Operating costs in 2013 were
Boeing expects the market for financing new aircraft to remain strong as airline customers continue to demand for new, fuel-efficient airplanes. “Globally the liquidity balance looks good as the industry rebalances itself to move away from export credit support, with its more expensive pricing, and more toward reliance on the commercial markets,” said Tim Myers,
