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Financial

Pinnacle Airlines comprehensive agreements approved by Bankruptcy Court

Pinnacle Airlines Corp. reported that the comprehensive agreements it reached with Delta, the Air Line Pilots Association, International (ALPA) and the Official Committee of Unsecured Creditors (Creditors’ Committee) in Pinnacle’s Chapter 11 cases, have been approved by the Bankruptcy Court overseeing Pinnacle’s cases. The agreements together provide a path for the Company to emerge from

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AMR Corporation reports fourth quarter 2012 net profit of $262m

In the fourth quarter, AMR reported a net profit of $262m compared to a net loss of $1.1bn in the fourth quarter of 2011. AMR’s fourth quarter results include $350m of net positive reorganization and special items. Excluding reorganization and special items, the net loss in the fourth quarter of 2012 was $88m, a $121m

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Bombardier announces pricing of new issuance of Senior Notes due 2016

Bombardier has successfully priced its offering of US$2bn aggregate principal amount of new Senior Notes. The issuance is comprised of US$750m aggregate principal amount of Bombardier’s Senior Notes due 2016, which carry a coupon of 4.250% per annum and will be sold at par (the “2016 Notes”), and US$1.25bn aggregate principal amount of Bombardier’s Senior

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Diehl takes over Thales share in Diehl Aircabin

The Diehl Group, Nürnberg, Germany, has acquired Thales’s minority interest (49%) in Diehl Aircabin GmbH, Laupheim, Germany. Thus, Diehl Aircabin is from now on fully owned by Diehl. Diehl Aircabin mainly supplies commercial air transport aircraft manufacturers with cabin interior lining (panels, hatracks…), air conditioning ducts and crew rest compartments. Diehl Aircabin’s operations are to

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CIT serves as Sole Lead Arranger in AGC Composites & Aerostructures Financing

CIT Group, a global leader in transportation finance, announced that it provided a senior secured unitranche credit facility to AGC Composites & Aerostructures, a division of Oklahoma-based AGC Aerospace & Defense, for the acquisition of Paul Fabrications Ltd., in the U.K. AGC Composites & Aerostructures, a leading manufacturer of aircraft components, is a portfolio company

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GE to acquire aviation business of Avio S.p.A

GE has agreed to purchase the aviation business of Avio S.p.A., an Italy-based manufacturer of aviation propulsion components and systems for civil and military aircraft, for US$4.3bn (€3.3 bn). GE plans to acquire Avio’s aviation business from Cinven, a leading European private equity firm that has owned Avio since 2006, and Finmeccanica, the Italian aerospace

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Boeing raises dividend 10% and resumes $3.6bn share repurchase program

Boeing Chairman, President and Chief Executive Officer Jim McNerney announced a 10% increase in the company’s regular quarterly dividend to 48.5 cents per share and the resumption of its stock repurchase program with repurchases currently expected to total between $1.5bn and $2.0bn in 2013. “Strong cash generation, consistently solid core operating performance and a positive

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