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Financial

Top global banks selected to fund new Air Pacific aircraft

Air Pacific, Fiji’s national carrier soon to be flying as ‘Fiji Airways’, announced that  it had selected two major international aviation banks for European export credit financing for its three new A330-200 aircraft. The two banks are German-based: KfW IPEX-Bank and Helaba. The selection of these two well-known international banking partners is the result of

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airberlin records profit in 2012

Airberlin has returned to profitability. Air Berlin PLC recorded an operating profit before interest and tax (EBIT) of €70.2m in 2012, reflecting a significant improvement of €317.2m as compared to 2011. The Company’s net income of €6.8 million marks a return to profitability for the first time since 2007 and follows a loss of €-420,4m

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AerCap reports fourth quarter and full year 2012 financial results

AerCap reported fourth quarter 2012 net income was $11.2m, compared with $76.4m for the same period in 2011. Fourth quarter 2012 included a $54.6m charge, net of tax, relating to the sale of AerCap’s ALS portfolio which is essentially offset by expected future servicing fees and interest income. Fourth quarter 2012 adjusted net income was

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Safran posts record 2012 results

Full-year 2012 adjusted revenue was €13,560m, up 15.5% year-on-year (8.6% organic). Adjusted recurring operating income of €1,471m (10.8% of revenue), rose 23.7% year-on-year. After a net charge of €(50)m for one-off items, mainly related to M&A transaction and integration costs, adjusted profit from operations was €1,421m. Adjusted net income – group share up 55% from

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Bombardier's profit falls

Bombardier Aerospace’s revenues amounted to $2.6bn for the three-month period ended December 31, 2012, compared to $2.0bn for the corresponding period last fiscal year. For the year, revenues totalled $8.6bn, the same level as last fiscal year. EBIT before special items totalled $382 million, or 4.4% of revenues, for the year ended December 31, 2012,

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BAE Systems report 2012 preliminary results

For the full year 2012 BAE Systems sales reduced by 7%, underlying EBITA reduced by 6% to £1,895m. Deferred recognition of sales and profit relating to the formalisation of price escalation on the Salam Typhoon programme. Underlying earnings per share down by 2% (excluding the benefit in 2011 of the UK tax settlement). Order backlog

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Aircastle announces fourth quarter and full year 2012 results

Aircastle Limited reported fourth quarter 2012 net income of $29.8m and adjusted net income of $36.4m. Net income for the year ended December 31, 2012 was $32.9m and adjusted net income was $57.0m. The fourth quarter results included total revenues of $176.6m an increase of 13%, versus $156.9m in the fourth quarter of 2011. For

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MTU Maintenance posts record revenues for 2012

2012 was the most successful financial year in the history of MTU Aero Engines Holding AG, as the company announced during the presentation of its provisional financial statements on Tuesday, February 19, 2013. MTU’s revenues reached the record level of €3,378.6m (2011: €2,932.1m), thus exceeding the company’s forecast of €3.3bn. The group also clearly met

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American Airlines and U.S. Airways forge world's biggest airline

AMR Corporation, the parent company of American Airlines, and US Airways Group announced that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine to create a premier global carrier, which will have an implied combined equity value of approximately $11bn based on the price

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