Iberia posts 2007 net earning of 327.6 million euros

Iberia closed 2007 with net earnings of 327.6 million euros, making it one of the best years in company history. Pre-tax profits came to 446.4 million euros, 170.3% above those of 2006. This performance gave the Spanish airline its twelfth consecutive profitable year. Iberia posted 2007 operating earnings of 283.5 million euros, up by 161.6 million for the year, providing an operating earnings margin of 5.1%, which was 2.9 points higher than that of 2006. The EBITDAR for the full year came to 932 million euros, for a gain of nearly 18% against 2006. The margin of EBITDAR over income Read more

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AerCap Holdings reports fourth quarter and full year 2007 financial results

Fourth quarter 2007 net income was $45.1 million, compared with a net loss of $8.0 million for the same period in 2006. Fourth quarter 2007 net income excluding non-cash charges relating to the mark-to-market of interest rate caps and share-based compen-sation was $57.0 million, an increase of 11% vs. fourth quarter 2006 of $51.2 million on the same basis. Total revenue for the fourth quarter 2007 was $284.6 million, an increase of 34% vs. fourth quarter 2006. Full year 2007 net income was $188.5 million, compared with $109.0 million for the same period in 2006. Full year 2007 net income Read more

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Atlas Air Worldwide reports net income of $132.4 million for full year 2007

For the full year ended December 31, 2007, AAWW posted net income of $132.4 million more than double 2006 levels, on revenues of $1.563 billion. Operating income of $154.8 million and pretax income of $132.7 million included a nonrecurring gain of $3.5 million on the disposal of aircraft and engines. For the quarter ended December 31, 2007, AAWW reported net income of $50.7 million on revenues of $442.8 million. Operating income of $70.7 million and pretax income of $66.7 million included a nonrecurring gain of $2.5 million on the disposal of surplus aircraft engines.

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Lufthansa raises operating profit to almost Euro 1.4 billion

The Lufthansa Group’s revenue totalled Euro 22.4 billion (previous year: Euro 19.8 billion) at the end of the financial year 2007 according to preliminary figures. The operating result of EUR 1,378 million (previous year: Euro 845 million) exceeded the profit target. The positive business development and income from portfolio management also made their mark on the net profit for the period of Euro 1,655 million (previous year: Euro 803 million). In continuation of the Group’s dividend policy and in view of the sound operating performance, the Executive Board proposes to the Supervisory Board to submit a dividend proposal of Euro Read more

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Goodrich to increase Share Repurchase Plan by $300 million in common stock

The Board of Directors of Goodrich Corporation approved an increase to the company’s existing Share Repurchase Plan to authorize the repurchase of up to an additional $300 million of the company’s common stock, bringing the total authorization to $600 million. Since the initial $300 million authorization was approved in October 2006, the company has repurchased 3.9 million shares for a total of $227 million, through January 31, 2008. The primary purpose of this plan is to offset dilution to existing shareholders from the company’s stock-based compensation plans.

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Pinnacle Airlines reports fourth quarter 2007 financial results

Pinnacle Airlines reported fourth quarter 2007 net income of $6.7 million excluding a potential one-time, non-cash charge that the Company is analyzing. The Company’s net income were $12.3 million for the fourth quarter of 2006, excluding nonrecurring items. The 2007 financial results reflect the contractual changes in the airline services agreement (the “ASA”) between the Company’s wholly owned subsidiary, Pinnacle Airlines, Inc. (“Pinnacle”), and Northwest Airlines, Inc. (“Northwest”) that became effective January 1, 2007, and include the financial results of Colgan Air, Inc. (“Colgan”), the airline acquired by the Company in January 2007

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ExelTech releases third quarter results

ExelTech Aerospace a leading aircraft maintenance, repair and overhaul (“MRO”) provider with operations in Montreal and Quebec City, reported its financial results for the third fiscal quarter, which ended December 31, 2007. (All amounts are in Canadian dollars). Revenues for the quarter ended December 31, 2007 totalled $14.6 million compared to $14.0 million for the quarter ended December 31, 2006, an increase of 4%. This increase was driven by continued growth in the Company

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Genesis Lease reports fourth quarter and year end 2007 results

Genesis Lease Limited announced its financial results for the fourth quarter and year ended December 31, 2007. For the quarter ended December 31, 2007, rental revenues were $54.9 million, compared to $41.6 million for the same period in 2006, an increase of 31.8%. Net income was $6.4 million, compared to $7.0 million for the same period last year, a decrease of 9.2%. Net income for the quarter includes a charge of $2.9 million ($3.3 million before tax) relating to a proposed transaction that is unlikely to proceed. Excluding this charge, net income increased by 32.2% quarter over quarter. Results for Read more

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PAL posts quarterly loss of $11.3 million

Philippine Airlines incurred a loss of $11.3 million for October-to-December 2007, but still emerged with a profit of $11.5 million for the first nine months of its 2007-2008 fiscal year. The loss contrasted with net income of $79.5 million in the same period in 2006 The flag carrier earned $15.3 million in operating income in October-to-December 2007

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AAR reports $25 million over-allotment option exercised by initial purchasers of convertible notes

AAR CORP. released that the initial purchasers of the convertible senior notes issued on February 11, 2008 (the “Notes”) have exercised in full their over-allotment option to purchase an additional $25 million in aggregate principal amount of Notes. The additional Notes will be allocated evenly between the two tranches of Notes, resulting in a total of $137.5 million aggregate principal amount of 1.625% convertible senior notes due 2014 and $112.5 million aggregate principal amount of 2.25% convertible senior notes due 2016. The Company expects to complete the sale of the additional Notes on February 19, 2008.

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