http://www.airfinancejournal.com The financial magazine for the commercial aviation market. In-depth global analysis of aviation finance deals and market moves for senior finance, treasury and planning executives en-us © 2008 Euromoney Institutional Investors Plc. All Rights Reserved. Thur, 15 May 2008 16:34:30 GMT 50 http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706646 EADS has reported a 10% increase in revenues, from Eu8.9 billion for the first three months of 2007 to Eu9.9 billion ($15.63 billion) for the first quarter of 2008. The EADS group had a net income of Eu285 million ($450 million) for the first three months of this year, compared to a net loss of Eu10 million ($15.8 million) in the first three months of 2007. During the first three months of 2008, Airbus delivered 123 aircraft, including two A380s, compared to 115 aircraft in the same period in 2007. Thur, 15 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706647 Italian national carrier Alitalia announced a first quarter 2008 pre tax loss of Eu214.8 million ($339.2 million) compared to a pre tax loss of Eu152 million ($240 million) in the same period last year. Total revenue for the first quarter 2008 was Eu1.06 billion ($1.67 billion), down 0.4% from the first three months in 2007. Thur, 15 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706648 Spirit AeroSystems has signed a contract with Airbus to design and build a centre fuselage section of the A350XWB aircraft. The company will design and produce section 15, a centre section of the fuselage that is some 55 feet in length and weighs nearly 9,000Ibs. Spirit will be expanding and opening a new facility in Lenoir County in North Carolina. More A350XWB programme work will be done at the Spirit Wichita factory and at the new Spirit Malaysia facility due to open in 2009. Thur, 15 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706649 Mesa Air Group subsidiary Air Midwest will cease all operations, including the Essential Air Services programme. The company says the main reasons for the closure are high fuel prices, low demand and the difficult operating conditions in the market. Thur, 15 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706650 SR Technics and Air Arabia have extended their Integrated Components Solution contract for a further six years. During the life of the contract, which covers 13 A320 aircraft, Air Arabia will expand the fleet of A320s to 30 aircraft. Thur, 15 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706568 Singapore Airlines reported a net profit of SGD2.05 billion ($1.48 billion) for fiscal year to 31 March 2008, a decrease of 3.8% from SGD2.13 billion ($1.54 billion) the year before. The airline had total revenues for the fiscal year of SGD15.97 billion ($11.56 billion), up 10.2% from the previous fiscal year. Wed, 14 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706569 The International Lease Finance Corp (ILFC) has taken delivered of its 400th 737. The 737-800 will be leased to Travel Service of Hungary. ILFC has a portfolio of more then 900 aircraft valued at over $50 billion. Wed, 14 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706570 Embraer is to open a new facility in Florida, comprising a final assembly line for the company's range of Phenom business jets, a new paint shop and design centre. The investment in the facility will be around $50 million and create about 200 skilled jobs in the region by 2011. Wed, 14 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706571 SR Technics has signed a five- year line maintenance deal with Flybaboo for its Embraer 190 fleet. This is first Embraer 190 deal SR Technics has signed. Swiss based Flybaboo will have a fleet of three Embraer 190s by the end of 2009. Wed, 14 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706572 Netherlands based Stork Fokker has signed a letter of intent with Canadian North in Calgary for rotable spares support on the airline's DHC8-100 aircraft. Canadian North will use the Stork Fokker ABACUS programme under the three-year deal. Canadian North operates 737s and DHC8-100 aircraft in their fleet. Wed, 14 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706510 Aircraft and engine leasing company AerCap has released its first quarter results. The company had total revenues of $294.5 million, a decrease of 5% from the same three months in 2007. The lessor had net income of $50.9 million, down 16% from the first three months of 2007. The company had 320 aircraft and 71 engines in the portfolio on March 31 2008, with a lease value of $3.28 billion. Mon, 12 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706511 BOC Aviation (formerly SALE) has reported results for nine months up to December 31 2007 with a net profit after tax of $51 million. The company has changed the financial reporting period and will now report financial figures from January to December to correspond with the rest of the BOC Group. The company had a net profit after tax of $81.4 million from January to December 2007, up from $48.5 million in the January to December 2006. Mon, 12 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706512 Aircastle had total revenues of $135 million in the first quarter of 2008, an increase of 92% over the same period last year. The leasing company has reported a net income for the first quarter of $31.6 million, an increase of 46.9% over the first quarter 2007. As of March 31 2008 Aircastle had 136 aircraft, 121 passenger and 15 freighter aircraft in the portfolio valued at $4.2 billion. Mon, 12 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706513 Qantas and Qatar are to seek compensation from Boeing over delays to the 787 Dreamliner. The programme is running over a year behind schedule and some customers may have to wait between 20 months and two years for their aircraft orders. Boeing has postponed the first delivery of the plane from this month until the third quarter 2009. Mon, 12 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706514 British Airways has said that its final move to Heathrow Terminal 5 will be postponed until next January or February. The airline has said that eight services, including flights to New York, will move to T5 in June 2008. During the first few days, after the unveiling of the terminal in March, around 23,200 pieces of luggage were misplaced and 125 bags are still missing. Mon, 12 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706474 Asiana has completed an order for two 777-200ERs valued at $438 million at list prices. The airline retains the right to substitute the aircraft for the larger 777-300ER. Fri, 9 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706476 B&B Air reported a net income of $11.7 million for the first three months of 2008. The company had total revenues of $51.9 million for the first quarter 2008, including $50.8 million in lease revenue. At the end of 2007, B&B Air had 52 aircraft in its portfolio. Fri, 9 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706477 Air Canada announced a net loss of CAD288 million ($281.5 million) for the first three months of 2008. The airline had total revenues of CAD2.7 billion ($2.64 billion) for the first quarter 2008. Fri, 9 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706478 Premiair is to move fixed wing maintenance to a newly refurbished hangar and office complex at Oxford Airport later this year. Premiair needed to expand because the company had reached capacity at the Blackbushe maintenance facility. Helicopter maintenance will remain at Blackbushe. Fri, 9 May 2008 GMT http://www.airfinancejournal.com/default.asp?Page=2&PUB=136&ISS=24742&SID=706479 Isle of Man based airline Euromanx has ceased trading from today. All Euromanx flights have been cancelled but the airline has made alternative arrangements for stranded passengers for today. A number of factors have led to the closure, including the high price of fuel. Fri, 9 May 2008 GMT