Airlines PNG has today reported its preliminary result for the financial year ended 31 December 2011. Despite a challenging operating year for the airline, comprehensive income before tax for 2011 was K3.9m which represents a K1.5m improvement to the corresponding period in 2010. This also represents the Group’s third consecutive profitable half year result. Operating
NEW YORK—The Federal Aviation Administration (FAA) is proposing a $395,850 civil penalty against US Airways Inc., of Tempe, Ariz., for allegedly violating U.S. Department of Transportation Hazardous Materials Regulations. The FAA conducted a periodic dangerous goods inspection of US Airways’ facilities at Hartford’s Bradley International Airport (BDL), May 10-18, 2010. As a result of the
Atlantic Airways, the national carrier of the Faroe Islands, has recorded a nine per cent year-on-year increase in revenue in the first quarter of 2012. However, higher fuel costs and weakening demand in the European charter sector meant an increase in losses for the period compared with 2011. The period was the airline’s last prior
Schiphol, The Netherlands, May 17, 2012 – AerCap Holdings N.V. (NYSE: AER) (the “Company”) today announced that AerCap Aviation Solutions B.V. (the “Issuer”), a wholly owned subsidiary of the Company, priced its previously announced offering of $300 million in aggregate principal amount of senior unsecured notes (the “notes”). The notes will bear interest at a
PORTLAND, Ore., May 17, 2012 (GLOBE NEWSWIRE) — Precision Castparts Corp. (NYSE:PCP) leveraged its solid contractual positions in traditional end markets and gained traction in newer businesses such as aerostructures and oil & gas, resulting in strong year-over-year sales and earnings gains in the fourth quarter of fiscal 2012. Fourth Quarter 2012 Financial Highlights Precision
MONTREAL, May 17, 2012 /CNW Telbec/ – ACE Aviation Holdings Inc. (ACE) announced today that the Toronto Stock Exchange (“TSX”) has determined that its “Due Bill” trading procedures will apply to the initial distribution in the aggregate amount of $275 million (or approximately $8.46 per share) which was announced on May 9, 2012. The distribution
Warsaw – The International Air Transport Association (IATA) called upon the Polish government to accelerate its pro-aviation policies to enable aviation to facilitate economic growth and development in the country. “Poland sees aviation as an important driver of the economy. And we are eager to work in partnership with the government to build a strong
MEMPHIS, Tenn., May 16, 2012 /PRNewswire/ — Pinnacle Airlines Corp. (OTCMarkets.com: PNCLQ) today announced that it has received final approval from the United States Bankruptcy Court for the Southern District of New York for $74.3 million in debtor-in-possession (DIP) financing. The funding is being provided by Delta Air Lines, Inc. “We are pleased that the
Singapore, 17 May 2012 – Singapore Technologies Engineering Ltd (ST Engineering) announced today that further to an earlier announcement on 22 December 2011 regarding the investment of a 50.1% equity interest in EcoServices, LLC (EcoServices) for a purchase consideration of US$33.3m (approximately S$43m), Vision Technologies Aerospace Incorporated (VT Aerospace) has entered into an agreement with
DALLAS, May 16, 2012 /PRNewswire/ — Southwest Airlines’ (LUV) Board of Directors, at its meeting held today, declared an increase in the quarterly dividend and increased the Company’s share repurchase authorization to $1 billion. At the Company’s Annual Meeting of Shareholders today, Gary C. Kelly, Chairman of the Board, President, and CEO, stated: “I am
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