CHC Group is going public and has begun an initial public offering (IPO) of 29,412,000 of its ordinary shares. The company, parent of CHC Helicopter, will make all of these shares available in the IPO, which is expected to price at $16 to $18 per share. If the underwriters sell more than the allotted shares, they will be able to buy up to 4,411,800 additional ordinary shares at the IPO price, less underwriting discounts, according to CHC. The company’s symbol on the New York Stock Exchange will be HELI.
Macquarie Infrastructure, the parent company of Atlantic Aviation, announced its first-quarter financial results last week, posting a 3.2-percent increase in Atlantic’s GA jet fuel sales on a same-store basis, over the opening quarter of last year. The chain’s earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 6.9 percent year-over-year. Macquarie expects to complete refinancing of Atlantic’s long-term debt this month, a move the company expects will give it more resiliency in case of another downturn in GA activity.
The National Air Transportation Association (NATA) and the General Aviation Infrastructure and Investment Coalition (GAIIC) in cooperation with the Airports Council International-North America have released a new set of best-practice standards for leases governing airport service providers. The new standards are aimed at facilitating long-term private investment in on-airport properties. The document lists a set of points that the parties say will serve the needs of both the airport and the service providers.
Piaggio Avanti fractional provider Avantair’s revenue increased 4 percent, to $36 million, in its fiscal third quarter (which ended March 31) compared with the year-ago period. Its earnings before interest, income taxes, depreciation and amortization also rose to $1.8 million, up from the $1.5 million reported in the same period last year.
Fractional provider Avantair reported revenues of $35.8 million for its Fiscal Year 2010 second quarter ending December 31. It recorded operating income of $1.4 million versus an operating loss of $628,000 in the year-ago period, and earnings before interest, income taxes, depreciation and amortization stood at $2.8 million.
Fractional provider Avantair reported revenues of $35.8 million for its fiscal year 2010 second quarter, which ended December 31. It recorded operating income of $1.4 million, versus an operating loss of $628,000 in the year-ago period, and earnings before interest, income taxes, depreciation and amortization stood at $2.8 million.
Fractional-share operator Avantair released its fiscal fourth-quarter financial results yesterday, which included growing revenues, declining operating losses and an EBITDA profit. Avantair operates a fleet of 52 Piaggio Avanti twin turboprops. The company added one more Avanti to the fleet during the fiscal quarter that ended June 30 and sold one core aircraft.
The acquisition costs of the three diagnostic systems assessed above vary markedly, but what is the annual cost of ownership to operators? To calculate this, AIN assumed a three-year amortization of the purchase price for the VitalLink and Tempus systems (EMS-Link is leased).