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Virgin reaffirms guidance for return to profitability in 2015/16

Easyjet reports record profits for fifth straight year

Easyjet has posted its fifth successive year of record profits, boosted by what the airline said were "favourable economic and consumer trends". Annual profits at the carrier, which has just celebrated its 20th birthday, jumped 18% to £686m. Revenues rose 3.5% to £4.68bn,...

Quebec to fund its CSeries stake via annual borrowing program

The Quebec government said on Monday its $1 billion investment in a partnership with Bombardier Inc that is aimed at completing the company's CSeries jet program will be financed through the government's annual borrowing program. Bombardier's CSeries passenger jet program is alre...

Fitch: More New Aircraft ABS Likely in 2016 as Competition Intensifies

The aircraft ABS sector continues to heat up and is set for another bump in new deals in 2016, according to Fitch Ratings in a new report. Fitch reports 11 aircraft ABS securitizations as being completed since the start of 2014, with many in the market predicting more next year. Meanwhile, EETCs remain a viable source of funding as the first two ‘AA’ issuances si...

Cape Verde's TACV secures $11mn in loans as losses continue

The Cape Verdian government has authorized the extension of two financial loans to struggling national carrier TACV - Cabo Verde Airlines (VR, Praia). An official government gazette published earlier this month says the Treasury will extend CVE950 million (USD9.26 million) in preferential loans to TACV while an additional EUR2 million (USD2.2 million) has been sourced from the Angolan Investment B...

FLY Leasing, net income increases $32.3m in Q3, 2015

Fly Leasing Limited, a global leader in aircraft leasing, announced its financial results for the third quarter of 2015 and a $100 million share repurchase program. “Our third quarter results demonstrate our progress in selling older and underperforming assets, enhancing our fleet metrics and reducing costs,” said Colm Barrington, FLY’s CEO. “Today we announced the next...

flydubai and Standard Chartered close financing deal

flydubai and Standard Chartered Bank (“Standard Chartered”), through its award winning Aviation Finance team, Pembroke, have recently closed a Sale and Operating Leaseback transaction for two Next-Generation Boeing 737-800 aircraft. This transaction, which was structured and arranged exclusively by Standard Chartered, is the second Sale and Operating Leaseback deal that Standard Cha...

Chinese Major Airlines 3Q Profits Hit by Yuan Weakness

China's four major carriers achieved an accumulated net profit of 20.97 billion yuan in the first nine months of this year, while all of them posted declines for the third-quarter profit due to exchange losses resulting from yuan depreciation. China Southern Airlines (CZ), the nation's largest carrier by passenger and fleet, reported a net profit of from January to September,...

Former China Aircraft Leasing Chief Seen in Hong Kong Six Months After

Former China Aircraft Leasing Group chief executive Mike Poon Ho-man has mysteriously resurfaced in Hong Kong after being missing for six months, adding a new twist to a deepening graft probe that has just netted the top boss of China Southern Airlines. Poon, who went off the radar in June was sighted in town last week by several people. He is also said to have paid a visit to the company&...

Turkish Airlines recorded 8 billion 54 million USD sales revenue

Turkish Airlines nine months 2015 consolidated financial statements were reported to Borsa Istanbul. According to the audited IFRS USD financial statements, compared to the same period of 2014, Turkish Airlines sales revenue decreased by 6 percent and stood at 8 billion 54 million USD. Turkish Airlines disclosed an operating profit of 1 billion 27 million USD and a ne...

767 Freighter Leases Drive ATSG Revenue Growth

Air Transport Services Group, Inc. (Nasdaq: ATSG), the leading provider of medium wide-body aircraft leasing, air cargo transportation and related services, today reported consolidated financial results for the quarter ended September 30, 2015. Results for the third quarter of 2015, compared with the third quarter of 2014, are as follows: Revenues increased three percent to $142.3 milli...

German Investor for airBaltic

The Latvian Cabinet of Ministers has approved plans to sell 20% of airBaltic to German investor Ralf Dieter Montag-Girmes for EUR 52 million and agreed to invest a further EUR 80 million in the airline. The total of EUR 132 million of fresh capital for the Latvian carrier will spur its Horizon 2021 business plan and fleet modernisation. Ralf Dieter Montag Girmes, G...

Latvia sells 20% stake in Air Baltic to German investor

Following lengthy deliberations, the Latvian government has agreed to sell a 20% stake in Air Baltic(BT,Riga) to German investor Ralf Dieter Montag-Girmes for EUR52 million (USD57.2 million). The official LETA news service says that alongside Montag-Girmes' investment, government will shore up the carrier's coffers with an EUR80 million (USD88 million) loan from the Latvian central bank...

Virgin Australia back into profit in first quarter of 2015/16

Virgin Australia says it is on track for a full year profit in 2015/16 after improved yields and lower costs moved the airline back into the black during the first quarter of the current financial year. The company on Thursday reported statutory net profit after tax for the three months to September 30 2015 of $1.7 million, bouncing back into profitability following a $59.1 million statutory lo...

Jazeera Airways Group announces Q3 earnings, reports 11.7% rise in year-to-date net profit

Jazeera Airways today announced its third quarter financial results. The company recorded a 2.4% rise in net profit for the quarter, bringing its nine-month net profit to KD14.5 million, reflecting an 11.7% increase over the same period last year. Q3 Financial Highlights: ● Operating revenue: KD21.0 million, less 0.9% from Q3 2014 ● Operating profit: KD8.5 million, up 14.9% from Q3 2014...

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Essential news

Avolon places landmark order for 110 Airbus A320neo and A330neo aircraft

Avolon, one of the world’s leading aviation finance companies, has reinforced its long-term growth strategy with a firm order for 110 Airbus aircraft, including 35 A330-900 widebodies and 75 A32...

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airBaltic files first monthly operating reports with U.S. court and publishes preliminary unaudited financial information

Air Baltic Corporation AS , Latvia’s national airline and the leading carrier in the Baltic States, announced that airBaltic and its subsidiaries participating in the voluntary Ch...