Lufthansa pays around 269 million Swiss francs for SWISS out-performance option

Three years to the day since the announced integration of SWISS in the Lufthansa Aviation Group, the former majority shareholders of the Swiss carrier will shortly be receiving the payout for their out-performance option from the German airline. In exchange for their onetime SWISS shares, they will be paid a total of about 269 million Swiss francs (about 172 million euros). The payout level depends on the performance of the Lufthansa share price compared with the share price of a specified group of competitors (British Airways, Air France/KLM, Iberia). In the reference period Lufthansa shares have out-performed the defined basket Read more

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FedEx Corp. reports third quarter earnings

FedEx Corp. reported for the third quarter revenues of $9.44 billion, up 10% from $8.59 billion the previous year, operating income of $641 million, unchanged from a year ago, operating margin of 6.8%, down from 7.5% the previous year and net income of $393 million, down 6% from last year

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Spirit AeroSystems increases revolving credit facility to $650 million

Spirit AeroSystems reported the completion of an amendment to its existing credit agreements to increase the Company’s $400 million revolving credit facility to $650 million. The transaction enhances the company’s financial flexibility as it continues to invest in product development and win new business across the aerospace industry. The maturity date and interest cost of the credit facility remains unchanged.

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River Hawk Aviation acquires Carolina Air Charter

River Hawk Aviation released that it has completed an agreement to acquire Carolina Air Charter, Inc. of Charlotte, NC. Carolina Air Charter was established in 1989 to provide quality direct air charter services to meet the special demands of corporate travel. In 2008, Carolina Air Charter is expected to produce in excess of $2,000,000 in revenues from its charter bookings. Carolina Air Charter has an impeccable safety record earned through more than 21,000 hours of charter flight operation serving the needs of approximately 25,000 passengers traveling nearly 3 million miles.

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AAR reports record third quarter results

AAR reported fiscal 2008 third quarter net sales of $376.6 million and income from continuing operations of $20.3 million. Sales grew a robust 39% from $271.0 million in the same period last year, and income from continuing operations increased 31% from $15.5 million in the third quarter of the prior year. Organic sales growth was 25% in the third quarter. For the nine months ended February 29, 2008, net sales grew 31% to $993.2 million, and income from continuing operations increased 28% to $53.4 million.

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Alaska Air Group announces stock repurchase program

Alaska Air Group released that its board of directors approved a stock repurchase program authorizing the company to purchase up to $50 million of its common stock. The new program follows the completion on Feb. 29, 2008, of a program to repurchase $100 million of the company’s outstanding stock. Under the program just completed, the company repurchased 4,113,782 shares, or 10% of the outstanding stock at the start of the program, at an average price of $24.31 per share.

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Embraer releases fourth quarter and fiscal year 2007 results

Embraer recorded fourth quarter 2007 net sales of $1,875.0 million and net sales for FY 2007 of $5,245.2 million. Net Income for 4Q07 and for the full year totaled $200.9 million and $489.3 million. Net revenues for 4Q07 totaled $1,875.0 million, a 77.0% increase compared to $1,059.6 million for the fourth quarter of 2006 (4Q06). Deliveries for 4Q07 totaled 61 aircraft, a 64.9% increase compared to 37 jets delivered in 4Q06. For fiscal year 2007, net revenues totaled $5,245.2 million, a 39.5% increase compared to fiscal year 2006 revenues of $3,759.5 million. Net income was $200.9 million in 4Q07, in Read more

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Lufthansa Technik increases sales and profit in 2007

In the maintenance, repair and overhaul (MRO) market for commercial aircraft the Lufthansa Technik Group reports a 6.7% rise in external revenues and pre-tax earnings of 287 million euros in 2007. This represents an increase of 18.6% over the previous year. The current Annual Report shows a total revenue of 3.6 billion euros for the 19 consolidated companies within the Lufthansa Technik Group. Furthermore Lufthansa Technik released that it is building a research and development center in Hamburg for the Cabin Innovation business unit. Construction will start in March and the move into the new building is scheduled to begin Read more

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Vought reports net income of $46.3 million for 2007

Vought Aircraft Industries, reported financial results for its fourth quarter and year ending Dec. 31, 2007. Revenue for the three months ended Dec. 31, 2007 was $394.9 million, a decrease of $22.7 million or 5%, compared with revenue of $417.6 million for the same period last year. Increased commercial and business jet revenue resulting from increased deliveries and price adjustments was offset by decreased military revenue due to nonrecurring items recorded in 2006. Net Income for the fourth quarter of 2007 was $3.1 million, compared to a net loss of $6.3 million for the same period last year. Revenue for Read more

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