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Aviator.aero DAILY NEWS

posted Aug 5, 2010, 1:44 AM by Elaine Bell

4 AUG 2010

Embraer expects to post turnover of US$5.25 billion in 2010 rather than previously projected US$5 billion, as recovery in global demand for aircraft boosts sales.

FLY Leasing (Ireland) reports 2Q 2010 net income of US$13.2 million with operating lease revenue for up 14 percent to US$61.4 million. As of June 30, FLY’s total assets were US$2.0 billion, including flight equipment held for operating leases with net book value of US$1.7 billion. FLY also repurchased 1.4 million additional shares, post quarter end.

SkyWest subsidiary Atlantic Southeast Airlines ASA (US) to acquire all shares of ExpressJet Holdings (US) for approximate net price of US$133 million, with transaction closing 4Q 2010 pending regulatory approvals. Following merger, ASA to enter into long-term, capacity purchase agreement with Continental Airlines (US).

DVB Bank (Germany) reports US$77.9 million net profit before taxes for 1H 2010, down 3.8 percent year-on-year basis, according to preliminary figures. Total assets reported at US$26.8 billion as of June 30, up 17.3 percent from end of 2H 2009.

SkyWest (US) reports net income of $18.7 million for 2Q ended June 30, compared to compared to US$26.2 million for same period last year. Operating revenues at US$649.8 million versus US$698.8 million.

Finnair (Finland) intends to strengthen its domestic feeder traffic network by entering into cooperation agreement with Flybe (UK). Operations to begin at end of October 2010 with three turboprop aircraft based at Helsinki airport and to include, among others, Tampere, Turku and Tallinn routes.

Kenya Airways and TAAG (Angola) to codeshare on route between Nairobi and Luanda, marking Kenya Airways’ 50th destination.

Embraer considers partnerships with smaller suppliers, not Airbus or Boeing, if it decides to re-engine its E-Jets.

Republic Airways Holdings (US) reports net income of US$2.6 million on operating revenues of US$683.3 million for quarter ended June 30. Revenues up 113.6 percent compared to US$320 million for same period last year.