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fastjet announces interim results for the six months ended 30th June 2015

 fastjet, the low-cost African airline, announces its unaudited interim results for the six months ended 30 June 2015 and operational highlights of 2015 to date. Operational highlights H1 2015 · fastjet Tanzania o 51% increase in aircraft utilisation (from 6.4 to 9.7 block hours p...

Airlines rake in $5.5 billion, most profitable quarter since 2007

Lower fuel costs and steady travel demand continue to boost the nation's airlines, which enjoyed the most profita blequarter since 2007. Commercial airlines reported net income of $5.5 billion for the three months that ended in June, a 53% increase over the same period last year, accordi...


JPMorgan reaped $150 million dividend from Henry Bath before sale: filing

JPMorgan Chase & Co reaped a $150 million dividend from its metals storage business Henry Bath & Son before selling its physical commodities business last October, as the firm reported its first loss in over a decade, a filing on Thursday showed. A review of filings to the UK business registry revealed the payout to the Wall Street bank and the loss were the first since 2002 when Henry...

Beijing Issues Bond to Finance New Airport

Lawmakers in Chinese capital Beijing approved Friday government plan to issue additional bonds worth 6.7 billion yuan (US$1 billion) to finance the building of the new airport. Around 4 billion yuan of the bonds will be used to support land expropriation and housing demolition in the project, Li Yingjin, head of the municipal finance bureau, said in a report to the municipal people's c...

Wizz Air secures financing for six Airbus A321ceos

Fast-growing Hungarian low-cost carrier Wizz Air signed an agreement with China Development Bank’s CDB Leasing  to finance six Airbus A321ceos. The deal includes the carrier’s first two A321s scheduled for delivery later this year. “We’ve developed a strong relationship with CDB Leasing as they continue to support our growth, now financing the fi...

CDB Leasing, EIBC Sign Financing Agreement

CDB Leasing Co., Ltd. signed a financing framework agreement with the Export-Import Bank of China (EIBC) at the 4th China Air Finance Development (DFTP) Summit in Tianjin on Thursday. The signing ceremony was attended by Huang Min, Vice President of CDB Leasing and General Manager of the Transport and Finance Department of EIBC, Li Zhongyuan. CDB Leasing is a leading financial leasing company c...

GE Capital Aviation Services and Frontier Airlines Sign Purchase-and-Leaseback Deal for Nine New Airbus A321 Aircraft

GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, today announced it signed a purchase-and-leaseback agreement with Frontier Airlines for nine new Airbus A321 aircraft. Delivery of the first new aircraft is scheduled for October 2015 with the remaining new deliveries scheduled in 2015 and 2016. All nine aircraft are powered by CFM56-5B3 engines and a...

U.S. business spending slips, new home sales rise in August

U.S. business investment fell slightly in August, excluding spending on aircraft and defense equipment, but new home sales rose, suggesting that global economic headwinds were doing little to impede U.S. growth. The U.S. economy is on track to grow 1.4 percent in the third quarter, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday. The Commerce Department said capita...

Fitch Downgrades United Technologies IDR to 'A-'; Outlook Stable

Fitch Ratings has downgraded United Technologies Corporation’s (UTC;NYSE: UTX) long term Issuer Default Rating (IDR) and long-term debt ratings to ‘A-’ from ‘A’. Fitch has also downgraded UTC’s short-term IDR and commercial paper ratings to ‘F2’ from ‘F1’. The Rating Outlook is Stable. A detailed list of rating actions foll...

AAR Reports First Quarter Fiscal Year 2016 Results

AAR (NYSE: AIR) today reported first quarter fiscal year 2016 sales of $377.8 million and income from continuing operations of $8.2 million, or $0.23 per diluted share. For the first quarter of the prior fiscal year, the Company reported sales of $395.1 million and income from continuing operations of $11.8 million, or $0.29 per diluted share. During the quarter, the Company recorded...

Two Chinese Suitors Exploring Takeover of Jet Lessor AWAS

AWAS Aviation Capital Ltd., the lessor being sold by buyout firm Terra Firma Capital Partners, has drawn interest from two Chinese suitors in an auction that could fetch more than US$5 billion, people familiar with the matter said. ICBC Financial Leasing Co. and Aviation Industry Corp. of China are exploring a takeover of Dublin-based AWAS, said the people, who asked not to be identified becaus...

Air Partner: Interim results for the six months ended 31 July 2015

Air Partner plc (“Air Partner“ or “Group“), the global aviation services group, today reports results for the six months to 31 July 2015. Financial highlights: · Underlying PBT of £2.2m, a year-on-year increase of 100% · Underlying EPS of 17.1p, a year-on-year increase of 26%, lower than the increase in underlying PBT d...

Ryanair To Distribute €398M Aer Lingus Proceeds To Shareholders

Ryanair, Europe’s favourite airline, held its AGM in Dublin this morning (24 Sep 2015), during which the airline briefed shareholders on the continuing success of its “Always Getting Better” (AGB) customer experience programme, which has enabled Ryanair to raise its full year traffic forecast (previously 103m) to 104m customers, and its profit guidance by 25%, (previous...

UAC Management Board approved purchase of 75% share in Red Wings by IFC leasing company

Purchase of 75% share in Red Wings by Ilyushin Finance & Co (IFC) leasing company was approved by the Management Board of United Aircraft Corporation (UAC); now IFC Board of Directors should approve the deal, RIA Novosti reports with reference to some sources familiar with the deal. “UAC Management Board considered the matter related to repayment of Red Wings’ debt owed to IFC,&...

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Leasing hometown Dublin welcomes MTU Maintenance new office

An announcement was made at Airline Economics Growth Frontiers conference by MTU Maintenance - from now there is a new office opened in the heart of aviation leasing community birthplace Dub...

Magnetic Leasing first contract landing gear lease - Ryanair

Magnetic Leasing has signed a deal with Ryanair, Europe’s largest airline, for a landing gear lease. The agreement covers an 8 month lease period during which the landin...