AviTrader WEEKLY AVIATION HEADLINES

More documents

Recommendations

Info

AviTrader WEEKLY AVIATION HEADLINES resolution to the Airline's restructuring needs in the near future. VARIG LOG submitted an offer to acquire VARIG for $400 million. B/E Aerospace’s profit soars B/E Aerospace reports first quarter 2006 sales of $247.2 million, a $50.7 million or 25.8% increase over the first quarter of 2005. Operating earnings for the first quarter of 2006 of $31.1 million increased by 56.3% as compared to the same period last year. The increase in operating earnings was driven by continued revenue growth, earnings growth and margin expansion in each of B/E's commercial aircraft, distribution and business jet segments. GOL earnings increase by 62% GOL of Brazil reports first quarter 2006 net income of $82.9 million representing a 20.8% net margin. Earnings per share increased 62%, to $0.42. Second consecutive quarterly loss for low cost carrier JetBlue JetBlue reported for the first quarter 2006 a net loss of $32 million, compared to first quarter 2005 net income of $6 million. The operating loss for the first quarter was $25 million, resulting in a negative 5.2% operating margin, compared to operating income in the first quarter of 2005 of $25 million, resulting in a 6.6% operating margin. Operating revenues for the quarter totaled $490 million, representing growth of 31.4% compared to the first quarter of 2005, on 27.2% more capacity. Mesa revenues up 18.3% Mesa Air released second quarter after tax earnings of $5.3 million on operating revenues of $312.1 million. Revenues for the second quarter of 2006 increased $48.2 million, or 18.3%, primarily as a result of the year-over-year increases in the regional jet fleet. Net income for the second quarter was $5.3 million as compared to net income of $10.8 million for the same period of fiscal 2005. Pro forma net income for the quarter was $12.9 million. Training Seminar Operating Leases How to structure, administer and �nance �nance an operating lease 8-10 May, 2006 Bilderberg Garden Hotel, Amsterdam, The Netherlands O�cial Publications:- Volvo Aero sales up 31% Volvo Aero’s first quarter net sales rose 31% to SEK 2,163 million from SEK 1,647 million in the previous year. The sales increase was mostly due to increased order intake in the aerospace industry, which resulted in increased volumes in both the production of components and in the aftermarket business. Operating income was SEK 206 million compared with SEK 210 million in the preceding year. Operating margin amounted declined from 12.8% to 9.5%. The declines in operating income and operating margins are attributable to increases in the costs of raw materials and increased R&D costs in connection with the development of new engine components. Production start-ups of new components have also contributed to the production facilities not being used optimally. New Lufthansa bond six time oversubscribed Deutsche Lufthansa AG concluded the placement of a euro-benchmark bond. The issue was six-fold oversubscribed. The coupon has been fixed at 4.625%; the issue price is 99.742% with an issue yield of 4.669%. As planned, the issue volume totaled 500 million euros with a term of seven years. Prospectively CPD accreditation available www.everestevents.co.uk as of 4 May, the bond will be listed at the Frankfurt stock exchange. LAN Airlines operating result up LAN Airlines reported its consolidated financial results for the first quarter ended on March 31, 2006. LAN earned net income of $79.7 million for the first quarter of 2006. Excluding extraordinary items, net income for the quarter amounted to $46.0 million, flat when compared with the results obtained in 2005. Operating income for the quarter grew 21.4% to $68.7 million. Operating margin grew 0.1 points to 9.4% as revenue growth of 19.8% outpaced a 19.7% growth in operating costs. Total revenues for the quarter reached $728.2 million due to an 18.1% increase in passenger revenues and a 20.9% rise in cargo revenues. Woodward Governor reports smaller profit Woodward Governor Company reported for its second fiscal quarter ended March 31, 2006 net sales of $209 million, compared to $211 for the second quarter last year. Earnings before income taxes for the quarter were $17.2 million, compared with $20.3 million in the same period a year ago. Net earnings for the quarter were $11.5 million compared 6 MAY 1, 2006 / VOL. 44
AviTrader WEEKLY AVIATION HEADLINES with $13.0 million in last year's second quarter. AerCap finalizes acquisition of AeroTurbine and secures credits AerCap Group completed a $346 million credit facility with a consortium of banks led by Calyon. Calyon had initially underwritten the facility for $275 million and then increased it to $346 million due to oversubscription. AerCap will use the 5-year facility for financing a part of the acquisition and the planned expansion of its newly acquired subsidiary AeroTurbine. AerCap announced the agreement to acquire Miami, Florida-based AeroTurbine on 20 March 2006. The AeroTurbine acquisition was still subject to regulatory approvals and certain closing conditions and has now been successfully completed with the closing of the credit facility. AerCap Group also completed a $1 billion warehouse credit facility with UBS. The transaction closed on 26 April 2006. AerCap will use the 6year facility to finance aircraft acquisitions to expand its portfolio over the coming years. AirTran revenues up 38.8% AirTran's revenues increased by 38.8% to $416.0 million in the first quarter 2006. The airline reduced its net loss from $8.0 million in the first quarter 2005 to $4.6 million in the first quarter of 2006. AviTrader Aviation View this week’s program plus executive interviews Alaska Air coverts notes Alaska Air Group, parent company of Alaska Airlines and Horizon Air, announced the successful conversion of all of the $150 million aggregate principal amount of its outstanding senior convertible notes due 2023 into Alaska Air Group common stock. Emirates posts record profit Emirates reported net profits of $762 million for the financial year ended 31st March 2006 - up 5% from the previous year’s profit of $726 million. Group revenue increased by $1.4 billion or 27%, to $6.6 billion. The Group’s cash balance was $3 billion at the end of March. Goodrich reports financial result Goodrich reported first quarter 2006 net income of $201 million, on sales of $1,424 million. This compares to first quarter 2005 net income of $58 million on sales of $1,276 million. The improved results were primarily due to increased sales for commercial aerospace original equipment and aftermarket products and the inclusion of approximately $132 million related to the impact of the tax settlements with the IRS. GATX profit up GATX Corporation reported 2006 first quarter net income from continuing operations of $47.9 million compared to net income of $28.4 million in the first quarter of 2005. The 2006 first quarter results include approximately $3.4 million of aftertax benefit from lower depreciation on air assets targeted for sale. Flight attendants ratify contract Alaska Airlines’ flight attendants ratified a new four-year contract covering the airline's 2,540 flight attendants. NAV Canada concludes bargaining with union NAV CANADA reported the successful conclusion of collective bargaining with the union, representing 765 electronics technologists, installation technicians, electronics maintenance specialists, technical operations coordinators, and instructors. The resulting four-year collective agreement covers the period from September 2005 to August 2009. Pinnacle Airlines reports 10.4% operating margin Pinnacle Airlines Corp. reported first quarter 2006 operating revenue of $207.1 million, an increase of $12.4 million, or 6%, over the same period in 2005. Pinnacle's operating margin for the first quarter of 2006 was 10.4%, as compared to an operating margin of 10.3% last year. WestJet returns to Q1 profitability WestJet released its 2006 first quarter results, returning to first quarter profitability, with net earnings of $12.9 million up from the $9.6 million net loss in the same quarter of 2005. WestJet's operating revenue for the first quarter of 2006 was $387.6 million, a 31.6% increase from the $294.6 million achieved in the first three months of 2005. Austrian Airlines narrows losses Austrian Airlines reported for the first quarter 2006 that revenues increased by 18.2% to 547 million euros. The airlines also reported a loss before tax of 55.6 million euros compared to a loss of 82.4 million euros in the first quarter 2005. Norwegian Air Shuttle reports larger first quarter loss Norwegian Air Shuttle's first quarter 2006 revenues increased by 69% to NOK 539 million. The airline posted a pre tax loss of NOK 59.9 million compared to a loss of NOK 47.6 million in the first quarter 2005. OTHER NEWS Finnair Group’s ground handling subsidiary Northport Oy is planning to close down its money loosing Tampere unit during 2006. The closure affects sixteen employees. Northport Oy is a wholly-owned subsidiary of Finnair Plc providing ground handling services. It provides air travel check-in, gate and baggage services to airlines in Finland. SAS Ground Services has signed an agreement with Asiana Airlines for ground handling at London Heathrow Airport. The agreement is effective from May 4, 2006. Asiana 7 MAY 1, 2006 / VOL. 44
Page 1 and 2: ISSN 1718-7966 MAY 1, 2006 / VOL. 4
Page 3 and 4: AviTrader WEEKLY AVIATION HEADLINES
Page 5: AviTrader WEEKLY AVIATION HEADLINES
Page 9 and 10: AviTrader AVIATION MARKETPLACE May

AviTrader WEEKLY AVIATION HEADLINES

Create successful ePaper yourself

Delete template?

Save as template?