DHL selects Iberia Maintenance as long term maintenance provider

Iberia Maintenance has signed a long term agreement with DHL to overhaul more than 80 Rolls Royce RB211-535C37 engines operated by their two key European Airlines, DHL Air and European Air Transport. DHL Air Ltd, based at East Midlands Airport in the United Kingdom and Brussels, Belgium based European Air Transport N.V./S.A operate thirty four of the RB211 535

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Iberia posts 2007 profit of 327.6 million euros

Iberia released that net earnings by the Iberia Group climbed to 327.6 million euros from the 56.7 million euros posted in 2006, far exceeding the targets set in the 2006-2008 Strategic Plan, and enabling the company to pay its shareholders a dividend of 17 eurocents per share. Operating earnings in 2007 reached 283.5 million euros, 132% more than the figure for 2006, thanks to a notable improvement in the operating margin, which came to 5.1%, well above the 2.3% posted in 2006. The EBITDAR amounted to 932 million euros, 17.9% above that of the previous year, and showing a 16.9% Read more

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JetBlue to postpone delivery of 21 Airbus A320 Aircraft

JetBlue Airways plans to defer 21 Airbus A320 aircraft originally scheduled for delivery between 2009 through 2011 to 2014 through 2015. “In the face of escalating fuel costs, we believe it is essential to take a more financially conservative approach to managing our business,” said Dave Barger, JetBlue’s CEO. “The aircraft deferrals will help us further moderate our growth rate in 2009 and beyond, which will enhance liquidity and defer future debt obligations.”

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AMR Corporation announces first round of capacity reductions

AMR announced the first round of reductions to its flight schedule as part of its previously announced plans to reduce capacity in an effort to significantly reduce costs and create a more sustainable supply-and-demand balance in the market. The actions come in the face of skyrocketing fuel prices and a softening economy. To effect these changes, AMR plans to retire 40-45 mainline aircraft (mostly MD-80s and some Airbus A300s) and 35-40 regional jets. In an effort to significantly reduce costs, American Eagle also will retire its Saab fleet by the end of the year. The initial changes to the flight Read more

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ELAL Israel Airlines reports first quarter net loss of $49.9 million

ELAL reported that revenues reached an all-time record, and totaled $471.5 million, compared to $388.6 million in the first quarter last year, an increase of 21%. Gross profits in this quarter totaled $54.9 million, an increase of 12% compared to the parallel quarter last year. Operating loss this quarter totaled $47.4 million, compared to a loss of $10.6 million in the parallel quarter last year. Net loss this quarter was $49.9 million, compared to a net loss of $15.3 million in the parallel quarter last year.

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HEICO Corporation announces expanded $300 million credit facility

HEICO Corporation has entered into an amended, senior unsecured revolving credit facility with a banking syndicate led by SunTrust Robinson Humphrey, Inc. and J.P. Morgan Securities, Inc. The amendment increases the revolving credit commitment amount from $130 million to $300 million, which may be increased to $500 million under certain circumstances. The borrowings under the amended credit facility bear interest at spreads over LIBOR rates ranging from 62.5 to 225 basis points based on leverage measurements and mature in May, 2013. Under certain circumstances, the maturity may be extended for two one-year periods. The new facility provides the Company additional Read more

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Cessna's orders at EBACE total $750 million

Cessna Aircraft Company wrapped up the eighth annual European Business Aviation Convention & Exhibition (EBACE) last week in Geneva, Switzerland, with 88 new aircraft orders totaling nearly $750 million. During the three-day event, Cessna took orders for 70 Citation business jets, 14 Caravans and four single-engine pistons.

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Gulf Air orders 35 Airbus single aisle widebody aircraft

National carrier of Bahrain, Gulf Air has placed a firm order with Airbus for 35 aircraft. The order comprises 15 A320 single aisle aircraft and 20 A330-300s. The contract was signed at the Berlin Air show. Gulf Air already operates 10 A320s, six A330-200s and nine A340-300s. The new order will more than double the number of Airbus aircraft in their fleet.

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