DOCSLIB.ORG

2 0 0 6 a N N U a L R E P O

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2 0 0 6 a N N U a L R E P O 2006 ANNUAL REPORT WHO WE ARE AIRCASTLE IS A GLOBAL COMPANY THAT ACQUIRES AND LEASES HIGH-UTILITY COMMERCIAL JET AIRCRAFT TO PASSENGER AND CARGO AIRLINES THROUGHOUT THE WORLD. High-utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. As of December 31, 2006, our aircraft portfolio consisted of 69 aircraft that were leased to 32 lessees located in 23 countries and managed through our offices in the United States, Ireland and Singapore. We also make investments in other aviation assets, including debt securities secured by commercial jet aircraft. As of March 31, 2007, we had acquired and committed to acquire aviation assets having an aggregate purchase price equal to $2.24 billion and $1.43 billion, respectively, for a total of approximately $3.67 billion. AIRCASTLE 2006AR : P1 SELECTED FINANCIAL DATA Year Ended December 31, (Dollars in thousands, except per share data) 2006 Selected Operating Data: Total revenues $ 189,327 Selling, general and administrative expenses 27,866 (Includes non-cash share-based payment expense of $8.895 million) Depreciation $ 56,629 Interest expense, net 50,477 Net income $ 51,206 Net income per share (diluted) $ 1.11 Other Operating Data: EBITDA(1) $ 164,279 Consolidated Statements of Cash Flows: Cash flows provided by operations $ 135,282 Consolidated Balance Sheet Data: Flight equipment held for lease, net of accumulated depreciation $ 1,590,355 Total assets $ 1,918,703 Total debt $1,075,753 Shareholders’ equity $ 637,197 Number of aircraft 69 Total debt to total capitalization 62.8% Stock Performance Data: Share price at IPO $23.00 Closing share price on December 29, 2006 $29.50 Closing share price on March 30, 2007 $35.38 Dividend declared for the quarter ended December 31, 2006 $0.4375 per common share Dividend declared for the quarter ended March 31, 2007 $0.50 per common share Dividend yield based on March 30, 2007 closing price 5.65% (1) EBITDA is a measure of operating performance that is not calculated in accordance with GAAP. EBITDA should not be considered a substitute for net income, income from operations or cash flows provided by or used in operations, as determined in accordance with GAAP. EBITDA is a key measure of our operating performance used by management to focus on consolidated operating performance exclusive of income and expense that relate to the financing and capitalization of the business. We define EBITDA as income (loss) from continuing operations before income taxes, interest expense and depreciation and amortization. We use EBITDA to assess our consolidated financial and operating performance, and we believe this non-GAAP measure is helpful in identifying trends in our performance. TO OUR SHAREHOLDERS For Aircastle, 2006 was a year of exceptional accomplish- scheduled lease expirations in 2007 at aggregate lease rates ment as we moved into the ranks of the world’s top aircraft that were higher than the prior leases. leasing companies. In August 2006, we became the first During 2006 we invested approximately $1 billion in publicly traded dividend-paying, aircraft leasing company. aviation assets including 37 aircraft and ended the year with Since our formation in October 2004, Aircastle has acquired 69 owned aircraft and commitments to acquire six additional and committed to acquire approximately $3.7 billion of avia- aircraft for $231 million. Complementing our strategy of making tion assets including 115 aircraft leased to 48 lessees in one-off acquisitions, in January 2007 Aircastle committed to 27 countries. For the year we reported net income of $51.2 purchase a portfolio of 38 aircraft, comprised largely of million, of which $19.8 million was recorded during the fourth freighters, for approximately $1.6 billion. quarter, reflecting the pro rata earnings on 2006 investments In addition to the positive economic impact of this acquisi- of nearly $1 billion. tion, the transaction significantly enhances the diversity of our Our progress this past year was achieved against a back- portfolio. Combining this transaction with the other owned and drop of very favorable industry conditions. Global demand committed aircraft at year end, approximately 35% of Aircastle’s for aircraft remains strong as air travel continues growing. aircraft will be invested in freighters, up from 5% before the During 2006, revenue passenger kilometers, a measure of air deal. Further, with the longer lease terms of the freighters we travel consumption, increased by 6.9%, according to the committed to acquire, the weighted average remaining term International Air Transport Association, despite a sharp rise in increased from 4.2 years to 6.1 years and our customer base fuel costs. The strength in demand for aircraft, coupled with a increased to 46 lessees from 32 lessees. limited supply of available modern, fuel efficient jets drove On the financing front, we completed two significant lease rates higher during 2006. Aircastle capitalized on these financings during the year. First, we closed an innovative air- conditions, and we placed all of our owned aircraft having craft portfolio securitization in June 2006 providing long-term AIRCASTLE 2006AR : P3 “ For Aircastle, 2006 was a year of exceptional accomplishment as we moved into the ranks of the world’s top aircraft leasing companies.” financing for a significant portion of our aircraft while retaining While recently competition has become more pronounced, the flexibility to pay dividends to our shareholders. In addition, we believe there will continue to be attractive investment we completed our initial public offering in August 2006. opportunities in the aircraft operating lease sector. The com- During the fourth quarter of 2006, our first full quarter as a mercial jet aircraft market is very large, with approximately public company, we increased our quarterly dividend 25% to $360 billion of aircraft in operation, and the ownership base $0.4375 per common share, up from $0.35 per common is highly fragmented and ever changing. Going forward, we share at the time of our initial public offering. In March 2007 will continue to capitalize on the capabilities of our team and we increased the dividend again to $0.50 per common share, focus on investment opportunities where we have a relative or 43% higher than at our initial public offering, to reflect the advantage and where competition is less pronounced, significant growth in the company’s investment portfolio. including the air freight sector as well as acquisitions requir- In 2007 we intend to continue making accretive invest- ing aircraft redeployment. ments to build our portfolio of high utility aircraft and grow our We are looking forward to a successful 2007 and thank dividends to shareholders. We believe that paying regular you for your support. dividends to our investors establishes a transparent perfor- Sincerely, mance metric that will drive our cost of capital lower while allowing us to retain sufficient cash to reinvest in the business and maintain our asset base. Moreover, we have developed a scaleable platform that allows us to acquire and manage a Ron Wainshal large number of additional aircraft without a proportional Chief Executive Officer change in overhead. GLOBAL GROWTH AviationAviation Assets Assets (Purchase (Purchase Price) Price) QuarterlyQuarterly Dividends Dividends Declared Declared (5-yea(5-yr constaear constant age)nt age) ($ in($ mm) in mm) ($ per($ shareper share) ) $0.5$0.50 0 2500 2500 $2,239$2,239 $0.4375$0.4375 $1,778$1,778 0.5 0.5 2000 2000 $1,682$1,682 $0.3$0.35 5 0.4 0.4 1500 1500 $1,278$1,278 $1,0$1,088 88 0.3 0.3 1000 1000 $792$792 0.2 0.2 500 500 0.1 0.1 0 0 4Q 4Q1Q 1Q2Q 2Q3Q 3Q4Q 4Q1Q 1Q 3Q 3Q 4Q 4Q 1Q 1Q ’05 ’05’06 ’06’06 ’06’06 ’06’06 ’06’07 ’07 ’06 ’06 ’06 ’06 ’07 ’07 0.0 0.0 Dublin Stamford Singapore Aircastle Offices Customer Countries UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ࠚ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2006 or □ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (No Fee Required) For the transition period from to Commission file number 001-32959 AIRCASTLE LIMITED (Exact name of Registrant as Specified in its Charter) Bermuda 98-0444035 (State or other Jurisdiction of (I.R.S. Employer Incorporation or organization) Identification No.) c/o Aircastle Advisor LLC 300 First Stamford Place, 5th Floor Stamford, Connecticut 06902 (Address of Principal Executive Offices) Registrant’s telephone number, including area code: (203) 504-1020 Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange Title of Each Class on Which Registered Common Shares, par value $.01 per New York Stock Exchange share Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes □ No ࠚ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes □ No ࠚ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ࠚ No □ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.
Load more

Recommended publications
  • My Personal Callsign List This List Was Not Designed for Publication However Due to Several Requests I Have Decided to Make It Downloadable
    - www.egxwinfogroup.co.uk - The EGXWinfo Group of Twitter Accounts - @EGXWinfoGroup on Twitter - My Personal Callsign List This list was not designed for publication however due to several requests I have decided to make it downloadable. It is a mixture of listed callsigns and logged callsigns so some have numbers after the callsign as they were heard. Use CTL+F in Adobe Reader to search for your callsign Callsign ICAO/PRI IATA Unit Type Based Country Type ABG AAB W9 Abelag Aviation Belgium Civil ARMYAIR AAC Army Air Corps United Kingdom Civil AgustaWestland Lynx AH.9A/AW159 Wildcat ARMYAIR 200# AAC 2Regt | AAC AH.1 AAC Middle Wallop United Kingdom Military ARMYAIR 300# AAC 3Regt | AAC AgustaWestland AH-64 Apache AH.1 RAF Wattisham United Kingdom Military ARMYAIR 400# AAC 4Regt | AAC AgustaWestland AH-64 Apache AH.1 RAF Wattisham United Kingdom Military ARMYAIR 500# AAC 5Regt AAC/RAF Britten-Norman Islander/Defender JHCFS Aldergrove United Kingdom Military ARMYAIR 600# AAC 657Sqn | JSFAW | AAC Various RAF Odiham United Kingdom Military Ambassador AAD Mann Air Ltd United Kingdom Civil AIGLE AZUR AAF ZI Aigle Azur France Civil ATLANTIC AAG KI Air Atlantique United Kingdom Civil ATLANTIC AAG Atlantic Flight Training United Kingdom Civil ALOHA AAH KH Aloha Air Cargo United States Civil BOREALIS AAI Air Aurora United States Civil ALFA SUDAN AAJ Alfa Airlines Sudan Civil ALASKA ISLAND AAK Alaska Island Air United States Civil AMERICAN AAL AA American Airlines United States Civil AM CORP AAM Aviation Management Corporation United States Civil
    [Show full text]
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 0-14719 SKYWEST, INC. Incorporated under the Laws of Utah 87-0292166 (IRS Employer ID No.) 444 South River Road St. George, Utah 84790 (435) 634-3000 Securities Registered Pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on which Registered Common Stock, No Par Value SKYW The Nasdaq Global Select Market Securities Registered Pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
    [Show full text]
  • Annual Report 2008
    Annual Report 2008 BABCOCK & BROWN AIR LIMITED Babcock & Brown Air Limited (B&B Air) acquires and leases modern, high- demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. B&B Air is managed and serviced by Babcock & Brown Aircraft Management (BBAM), the world’s fourth largest aircraft leasing company. As our servicer, BBAM arranges and manages the leases of our fleet and acquires and divests our aircraft. BBAM has more than 20 years of experience in aircraft and lease origination, re-marketing, administration, technical management and disposition. BBAM manages a fleet of approximately 300 commercial aircraft valued at more than $7.8 billion, leased to 80 airlines in 35 countries. BBAM’s established leadership position in the aircraft leasing industry, its experienced senior management team and its extensive relationships throughout the world allow us to maximize the value of our portfolio throughout its life cycle by acquiring aircraft economically, accessing the most attractive markets, re-marketing our aircraft efficiently when leases expire and disposing of our aircraft for the best value when market conditions warrant. 1 LETTER From THE CHAIRMAN AND THE CEO Dear Fellow Shareholders, We are pleased to report on B&B Air’s first year as a public company. In 2008, B&B Air produced strong financial results. Our net income was $48.1 million, or $1.44 per share, on revenues of $236.1 million. During the year our unrestricted cash balance increased by $41.2 million to $56.8 million, after returning nearly $74 million to shareholders through a combination of dividends and share repurchases.
    [Show full text]
  • Global Leaders in Aviation Finance
    Global Leaders in Aviation Finance kpmg.ie/aviation Why Ireland Choose KPMG Since the creation of Guinness Peat Aviation Based in Ireland, KPMG has been the leading adviser to the international leasing industry for over 30 years. We are (GPA) in the 1970’s, Ireland has been a globally recognised as the Aviation Finance and Leasing centre of excellence in aviation finance Centre of Excellence with an incomparable scale and depth and leasing, with an extensive number of of experience within the sector. skilled arrangers, managers and advisors We provide a range of audit, tax and advisory services and based here. More than half of the world’s can assist across a range of issues. No matter what stage leased aircraft are leased from Ireland. your company is at, we have the expertise to help you. Most significant transactions in the sector have involved Irish leasing companies. The KPMG Ireland is the leading transaction advisory industry looks set to grow further, with very firm in the global aviation finance market large orders being placed by Irish lessors. X We are the only professional services firm identified in the “AirFinance Power 30” list of companies that make an essential contribution to aviation finance. To qualify, The Irish Government’s ongoing commitment to maintaining all companies had to meet one test: if they went out of competitiveness is evidenced in the recent introduction of business would the market feel a significant loss? the ‘Aviation Act’, which came into force in July 2014. This Act, should enable investors to benefit from ‘Alternative A’ X We have the biggest concentration of aircraft leasing type protection in the Cape Town Convention.
    [Show full text]
  • Aircraft Leasing in the Context of Covid-19 – Practical Considerations on Compromise, Relationships and Mitigation
    GLOBAL: COVID-19 : AIRCRAFT LEASING IN THE CONTEXT OF COVID-19 – PRACTICAL CONSIDERATIONS ON COMPROMISE, RELATIONSHIPS AND MITIGATION April 2020 www.bclplaw.com Dear Aircraft Lessor Re: COVID 19: Aircraft Lease Agreements relating to Relevant Aircraft I am writing to inform you that our business has been materially and adversely affected by the COVID 19 pandemic. My CFO has informed me that in a few months, we anticipate difficulties meeting our rental payment obligations under aircraft lease agreements entered into with your company. We are hoping that we can arrange a time to speak via video conference to consider and discuss steps that we may take and agree to mitigate these circumstances. Our respective companies have a long history of working together, but if there is a time that we need your co-operation, support and assistance, it would be now. I look forward to hearing from you to confirm a time to discuss. Yours sincerely Airline CEO INTRODUCTION The above paints the scene of a typical request which most (if not all) international aircraft lessors are currently facing (and a similar scenario could also apply to financial institutions who have lent money to airlines). If you were the relationship manager of the subject aircraft leasing company, what would you do? This paper is intended to provide some practical suggestions and considerations that commercial parties could consider when preparing for those “hard conversations” and is intended to encourage aircraft lessors, financial institutions and airlines to be innovative, creative and practical whilst balancing and prudently managing associated risks during the COVID 19 crisis.
    [Show full text]
  • Fly Leasing Q4 2019 Earnings Press Release
    Fly Leasing Reports Fourth Quarter and Full Year 2019 Financial Results Dublin, Ireland, February 27, 2020 – Fly Leasing Limited (NYSE: FLY) (“FLY”), a global leader in aircraft leasing, today announced its financial results for the fourth quarter and full year of 2019. Fourth Quarter 2019 Highlights Net income of $75.2 million, $2.43 per share Adjusted Net Income of $77.0 million, $2.49 per share Return on equity of 35.9%, Adjusted return on equity of 36.7% Sold ten aircraft for an economic gain of $62.7 million, a 31% premium to book value Purchased seven aircraft for $217.0 million 2019 Full Year Highlights Net income of $225.9 million, $7.12 per share Adjusted Net Income of $245.9 million, $7.75 per share Return on equity of 29.2%, Adjusted return on equity of 31.8% Sold 35 aircraft for an economic gain of $149.1 million, an 18% premium to book value $28.42 book value per share at year end, a 32% increase since December 31, 2018 Net debt to equity ratio of 2.3x "FLY is reporting record financial outcomes for the fourth quarter and full year 2019 along with adjusted returns on equity of more than 30% in both the quarter and full year," said Colm Barrington, FLY's Chief Executive Officer. "At year end, our book value per share was $28.42, which was a 32% increase in the year. Our leverage was reduced to 2.3x at year end, down from 4.0x at the beginning of the year.” “Our aircraft sales in 2019 demonstrated the value in our balance sheet, reduced lessee concentration, generated cash and reduced our leverage,” added Barrington.
    [Show full text]
  • U.S. Department of Transportation Federal
    U.S. DEPARTMENT OF ORDER TRANSPORTATION JO 7340.2E FEDERAL AVIATION Effective Date: ADMINISTRATION July 24, 2014 Air Traffic Organization Policy Subject: Contractions Includes Change 1 dated 11/13/14 https://www.faa.gov/air_traffic/publications/atpubs/CNT/3-3.HTM A 3- Company Country Telephony Ltr AAA AVICON AVIATION CONSULTANTS & AGENTS PAKISTAN AAB ABELAG AVIATION BELGIUM ABG AAC ARMY AIR CORPS UNITED KINGDOM ARMYAIR AAD MANN AIR LTD (T/A AMBASSADOR) UNITED KINGDOM AMBASSADOR AAE EXPRESS AIR, INC. (PHOENIX, AZ) UNITED STATES ARIZONA AAF AIGLE AZUR FRANCE AIGLE AZUR AAG ATLANTIC FLIGHT TRAINING LTD. UNITED KINGDOM ATLANTIC AAH AEKO KULA, INC D/B/A ALOHA AIR CARGO (HONOLULU, UNITED STATES ALOHA HI) AAI AIR AURORA, INC. (SUGAR GROVE, IL) UNITED STATES BOREALIS AAJ ALFA AIRLINES CO., LTD SUDAN ALFA SUDAN AAK ALASKA ISLAND AIR, INC. (ANCHORAGE, AK) UNITED STATES ALASKA ISLAND AAL AMERICAN AIRLINES INC. UNITED STATES AMERICAN AAM AIM AIR REPUBLIC OF MOLDOVA AIM AIR AAN AMSTERDAM AIRLINES B.V. NETHERLANDS AMSTEL AAO ADMINISTRACION AERONAUTICA INTERNACIONAL, S.A. MEXICO AEROINTER DE C.V. AAP ARABASCO AIR SERVICES SAUDI ARABIA ARABASCO AAQ ASIA ATLANTIC AIRLINES CO., LTD THAILAND ASIA ATLANTIC AAR ASIANA AIRLINES REPUBLIC OF KOREA ASIANA AAS ASKARI AVIATION (PVT) LTD PAKISTAN AL-AAS AAT AIR CENTRAL ASIA KYRGYZSTAN AAU AEROPA S.R.L. ITALY AAV ASTRO AIR INTERNATIONAL, INC. PHILIPPINES ASTRO-PHIL AAW AFRICAN AIRLINES CORPORATION LIBYA AFRIQIYAH AAX ADVANCE AVIATION CO., LTD THAILAND ADVANCE AVIATION AAY ALLEGIANT AIR, INC. (FRESNO, CA) UNITED STATES ALLEGIANT AAZ AEOLUS AIR LIMITED GAMBIA AEOLUS ABA AERO-BETA GMBH & CO., STUTTGART GERMANY AEROBETA ABB AFRICAN BUSINESS AND TRANSPORTATIONS DEMOCRATIC REPUBLIC OF AFRICAN BUSINESS THE CONGO ABC ABC WORLD AIRWAYS GUIDE ABD AIR ATLANTA ICELANDIC ICELAND ATLANTA ABE ABAN AIR IRAN (ISLAMIC REPUBLIC ABAN OF) ABF SCANWINGS OY, FINLAND FINLAND SKYWINGS ABG ABAKAN-AVIA RUSSIAN FEDERATION ABAKAN-AVIA ABH HOKURIKU-KOUKUU CO., LTD JAPAN ABI ALBA-AIR AVIACION, S.L.
    [Show full text]
  • United Airlines Pilot Directed Account Plan Benefits Administration – WHQHR United Air Lines, Inc
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ☒ ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2007 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-06033 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: United Airlines Pilot Directed Account Plan Benefits Administration – WHQHR United Air Lines, Inc. P.O. Box 66100 Chicago, IL 60666 B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: UAL Corporation 77 W. Wacker Drive Chicago, Illinois 60601 (312) 997-8000 Table of Contents UNITED AIRLINES PILOT DIRECTED ACCOUNT PLAN TABLE OF CONTENTS Page REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 1 FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits as of December 31, 2007 and 2006 2 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2007 3 Notes to Financial Statements as of December 31, 2007 and 2006, and for the Year Ended December 31, 2007 4–12 SUPPLEMENTAL SCHEDULES Form 5500, Schedule H, Part IV, Line 4i—Schedule of Assets (Acquired and Disposed of Within the Plan Year) for the year Ended December 31, 2007 13 Form 5500, Schedule H, Part IV, Line 4i—Schedule of Assets (Held at End of Year) as of December 31, 2007 23 SIGNATURE EXHIBIT The following exhibit is filed herewith: Exhibit 23 Consent of Independent Registered Public Accounting Firm NOTE: All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
    [Show full text]
  • Aviation Industry Leaders Report 2021: Route to Recovery
    The Aviation Industry Leaders Report 2021: Route to Recovery www.aviationnews-online.com www.kpmg.ie/aviation KPMG REPORT COVERS 2021.indd 1 20/01/2021 14:19 For what’s next in Aviation. Navigating Change. Together. Your Partner For What’s Next KPMG6840_Aviation_Industry_Leaders_Report REPORT COVERS 2021.indd 2021 2 Ads x 4_Jan_2021.indd 4 19/01/202120/01/2021 15:37:29 14:19 CONTENTS 2 List of 10 Regional Review 24 Airline Survivorship 36 Return of the MAX 54 Chapter Four: The Contributors and Post-Covid World Acknowledgements Chapter One Assessing which Boeing’s 737 MAX incorporates a regional airlines will survive the aircraft was cleared for The recovery from 4 Foreword from Joe review of the aviation immediate health crisis return to service after the devastation the O’Mara, Head of market. and the subsequent the US Federal Aviation coronavirus pandemic Aviation, KPMG recovery period has Administration officially has wrought on the 18 Government rescinded the grounding world is expected to be Ireland become an essential Lifelines skill for lessors, lenders order. Industry experts slow but how will the 6 Chapter One: and suppliers. discuss the prospects new world environment This section takes a for the aircraft type and impact demand for air Surviving the Crisis deep dive into the levels 28 Chapter Two: Fleet how it will be financed. travel. This chapter also of government support considers the impact This chapter considers Focus for the aviation industry 44 Chapter Three: The of climate change the macroeconomic and around the world and Airlines are likely to Credit Challenge concerns on the aviation geopolitical shock of the considers its impact emerge from the crisis coronavirus pandemic industry.
    [Show full text]
  • Government Pension Fund – Global Holding of Equities at 31 December 2007
    NORGES BA N K IN VESTME N T MA N AGEME N T ANNU A L REPO R T 2007 1 Government Pension Fund – Global Holding of equities at 31 December 2007 Europe Market value (NOK 1000) Ownership stake (per cent) Voting (per cent) Market value (NOK 1000) Ownership stake (per cent) Voting (per cent) AUSTRIA CROATIA Agrana Beteiligungs AG 7 370 0,092 0,092 Hrvatski Telekom dd 9 366 0,031 0,031 Andritz AG 44 606 0,261 0,261 A-TEC Industries AG 8 731 0,183 0,183 CYPRUS Austriamicrosystems AG 14 733 0,545 0,544 Bank of Cyprus Public Co Ltd 258 088 0,462 0,462 Austrian Airlines AG 4 904 0,115 0,115 Marfin Popular Bank Public Co Ltd 112 322 0,195 0,195 Boehler-Uddeholm AG 21 637 0,077 0,077 bwin Interactive Entertainment AG 23 914 0,346 0,346 CZECH REPUBLIC BWT AG 7 777 0,151 0,151 Philip Morris CR AS 23 736 0,364 0,364 CA Immo International AG 6 034 0,151 0,151 CA Immobilien Anlagen AG 34 729 0,328 0,328 DENMARK CAT Oil AG 4 798 0,082 0,082 A P Moller - Maersk A/S 921 847 0,363 0,433 Conwert Immobilien Invest SE 26 735 0,328 0,328 ALK-Abello A/S 13 504 0,209 0,230 Erste Bank der Oesterreichischen Sparkassen AG 729 685 0,599 0,599 Alm Brand A/S 7 943 0,125 0,125 EVN AG 62 871 0,219 0,219 Amagerbanken A/S 5 234 0,176 0,176 Flughafen Wien AG 19 884 0,151 0,151 Auriga Industries 3 080 0,123 0,175 Immoeast AG 173 045 0,355 0,355 Bang & Olufsen A/S 21 199 0,342 0,377 IMMOFINANZ AG 179 658 0,709 0,709 Bavarian Nordic A/S 3 610 0,148 0,148 Intercell AG 15 019 0,157 0,157 Biomar Holding A/S 2 573 0,112 0,112 Lenzing AG 3 475 0,033 0,033 Carlsberg A/S 97 282 0,199
    [Show full text]
  • Aercap Holdings NV
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2014 Commission file number 001-33159 AerCap Holdings N.V. (Exact name of Registrant as specified in its charter) The Netherlands (Jurisdiction of incorporation or organization) AerCap AerCap House Stationsplein 965 1117 CE Schiphol The Netherlands + 31 20 655 9655 (Address of principal executive offices) Wouter M. den Dikken, AerCap House, Stationsplein 965, 1117 CE Schiphol, The Netherlands, Telephone number: +31 20 655 9655, Fax number: +31 20 655 9100 (Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Ordinary Shares The New York Stock Exchange Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: 6.375% Senior Unsecured Notes due 2017 Indicate the number of outstanding shares of each of the issuer’s classes of capital or ordinary stock as of the close of the period covered by the annual report. Ordinary Shares, Euro 0.01 par value 212,318,291 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ፤ No អ If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
    [Show full text]
  • Annual Report & Accounts
    Annual Report & Accounts 2019 2 Contents ANNUAL REPORT AND ACCOUNTS REPORT ANNUAL 3 REPORT 2019 Highlights 5 Chairmanʼs Statement 6 Chief Executiveʼs Statement 8 Financial Review 12 Q&A: Aircraft Trading 16 DIRECTORSʼ REPORT AND CONSOLIDATED FINANCIAL STATEMENTS 2019 Directors and Other Information 24 Contents Directorsʼ Report 25 Statement of Directorsʼ Responsibilities 28 Independent Auditorsʼ Report 29 Consolidated Statement of Profit or Loss and Other Comprehensive Income 31 Consolidated Statement of Financial Position 32 Company Statement of Financial Position 33 Consolidated Statement of Changes in Equity 34 Company Statement of Changes in Equity 35 Consolidated Statement of Cash Flows 36 Company Statement of Cash Flows 37 Notes to the Consolidated Financial Statements 38 Acronyms and Abbreviations 77 ANNUAL REPORT AND ACCOUNTS REPORT ANNUAL 4 Through active fleet management, we maintain one of the youngest fleets in the industry. 2019 Highlights ANNUAL REPORT AND ACCOUNTS REPORT ANNUAL 5 OUR RATING OUR FLEET OUR PEOPLE A-/A- 720+ 185+ Fitch and S&P ratings, Our fleet comprises professionals working the highest rated of 720+ owned / worldwide. dedicated aircraft managed / committed leasing company in aircraft. the industry. OUR FLEET OUR TRADING OUR CUSTOMERS 4.2 400+ 150+ Years weighted c. 400+ aircraft sold to customers in over 50 average age of our 100+ investors. countries worldwide. fleet. We adopt a multi-layered approach to risk management, understanding our customers and their markets. Our shareholding base sets us apart by giving us one of the broadest product offerings in this industry. Our consistent, disciplined strategy has served us very well, allowing us to deliver consistent returns to our business and shareholders.
    [Show full text]