Financial Archives

Astronics acquires avionics interface solutions supplier Ballard Technology

December 1, 2011

Astronics Corporation, a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries, has acquired privately-held Ballard Technology, an Everett, WA company that designs and produces avionics interface solutions for defense and commercial aerospace applications. Astronics acquired all of the stock of Ballard for $24m in cash. An

AMR and American Airlines file for Chapter 11 reorganization

November 29, 2011

AMR Corporation, the parent company of American Airlines and American Eagle, filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York. AMR’s Board of Directors determined that a Chapter 11 reorganization is in the best interest of the Company and its stakeholders. The chapter 11 process enables American Airlines

Israel Aerospace Industries' sales reach $817m for Q3 2011

November 25, 2011

IAI’s sales reached $817m in the 3rd quarter of 2011, a growth of 18% compared with the same quarter in 2010. Back orders reached $9bn, at the same level as the preceding quarters. 83% of the back orders are earmarked for export. IAI reported a $59m profit from ordinary acivities and net profit of $3m

Jackson Square Aviation closes $265m credit facility

November 24, 2011

Jackson Square Aviation (“JSA”) has closed a $265m secured credit facility, which provides the company with committed long-term debt capacity. This facility provides JSA with a vital financing source to acquire modern, fuel-efficient aircraft for lease to its airline customers. JSA will finance eight aircraft currently owned or in its committed pipeline, for delivery through 2012. The facility is

EL AL reports 2nd quarter net loss of $19.7m

November 23, 2011

El Al released that revenues for the 2nd quarter of 2011 grew by about 6%, to $530.5m. The 47% increase in the price of aviation fuel, and the 9% increase in the value of the shekel in comparison to the dollar, increased the Company’s costs by about $80m before hedging, compared to the parallel quarter

AirAsia's 3rd quarter net profit down

November 23, 2011

AirAsia released that net profit for the 3rd quarter fell 53% to 152.3m ringgit from 327.3m for the same period last year. Revenue rose 9.9% to 1.08bn ringgit from 979.7m last year, aided by an 8.0% rise in passengers, but fuel expenses rose 45% to 421.2m and staff costs rose 38% to 126.3m. AirAsia announced that based on forward booking trends,

SAS secures finance lease facility of SEK 500m for four existing A321 aircraft

November 22, 2011

SAS has secured a five year refinancing of 4 Airbus 321 to a total value of approx. US$74m (500 MSEK). Nordea is Agent and Deutsche VerkehrsBank AG (DVB) is Security Trustee in the transaction. The transaction is part of SAS ongoing aircraft refinancing program where loans maturing in 2011/2012 are to be renewed. The financing of two

Willis Lease Finance closes new and expanded revolving credit facility for $345m

November 21, 2011

Willis Lease Finance Corporation has closed a new revolving credit facility. The $345m credit facility, with an interest rate equal to LIBOR plus 2.75%, is available to Willis Lease on a revolving basis for five years through November 2016. The credit facility is provided by a syndicate of banks led by Union Bank, N.A., as

easyjet reports increased full year profit

November 17, 2011

easyJet delivered a strong set of results with underlying profit before tax up by £60m to £248m for the full year, despite a £100m increase in unit fuel costs. This strong performance is due to firm control of costs, effective yield management, the strength of easyJet’s network and focus on customers. Return on Capital Employed

DVB Group reports sound operating performance during first nine months of 2011

November 14, 2011

For the third quarter 2011, DVB reported a solid 21.2% increase in net interest income after allowance for credit losses, of €162.1m. At €106.4m, consolidated net income before taxes decreased by 10.7% year-on-year, primarily due to volatile net income from financial instruments in accordance with IAS 39. Total income (comprising net interest income after allowance for

Financial