The SAS Group has signed an agreement to sell its 47,2% holding in airBaltic to the management of airBaltic. The sales price amount to MLAT 14 (approx MSEK 220) will be paid in cash no later than 31. January 2009. The transaction results in a capital gain of approximately MSEK 175 for the SAS Group.
Bombardier announces today that Bombardier Transportation signed a EUR 3.75 billion (approximately $5.4 billion US) Letter of Credit Facility agreement on December 17, 2008 with a syndicate of first quality international financial institutions. The facility is set up in Europe for the sole benefit of Bombardier Transportation and matures in 2013. Simultaneously, Bombardier amended its
KLM Royal Dutch Airlines will have full ownership of Martinair. KLM and the A.P. Moller – Maersk Group have agreed on the sale of A.P. Moller
AAR reported income from continuing operations of $21.4 million, or $0.51 per diluted share for the second quarter ended November 30, 2008. Second quarter results include a $21.0 million impairment charge related to aircraft and a $22.1 million gain on extinguishment of debt. Sales increased 14% to $353.6 million from $310.6 million in the prior
Honeywell reaffirmed its 2008 financial guidance. The company expects sales of approximately $36.6 billion, earnings per share of $3.76-3.80, and free cash flow of $3.2 billion, excluding cash taxes relating to the sale of the Consumable Solutions business (cash flow from operations of $4.0 billion). In 2009, the company forecasts sales of $33.6-35.3 billion and
UAL Corporation announced a sale and leaseback transaction that added approximately $150 million of cash to the company’s unrestricted liquidity. The company sold 15 Boeing 757 aircraft to East Shore Aircraft, LLC, a wholly owned subsidiary of Wayzata Opportunities Fund II, LP, for approximately $150 million. United Airlines will lease these aircraft back from East
FedEx Corporation expects to report earnings of $1.58 per diluted share for the second quarter ended November 30. Previous earnings guidance for the quarter was $1.40 to $1.60 per diluted share. For fiscal 2009, the company has reduced its earnings guidance to $3.50 to $4.75 per diluted share from the previous guidance of $4.75 to
The Boeing Company has completed its acquisition of Federated Software Group, a St. Louis-based company whose engineering services and software systems help track and distribute equipment and personnel for the U.S. Department of Defense. Federated Software Group will operate within Boeing Integrated Defense Systems’ Global Services & Support division. The acquisition, announced Oct. 16, 2008,
The Supervisory Board of Deutsche Lufthansa AG approved a bid to purchase up to 100% of the shares in Austrian Airlines. Lufthansa will initially acquire the 41.56% share in Austrian Airlines AG held by
