FLY Leasing Limited confirmed (28-Mar-2011) that on 08-Mar-2011 it repurchased 1,035,438 shares of its stock for USD11.925 per share in a privately negotiated transaction. FLY repurchased the shares utilising its unrestricted cash. The shares were repurchased outside of the existing share repurchase programme, which had USD12.4 million remaining as of 31-Dec-2010. Under the repurchase programme, FLY may make share repurchases from time to time in the open market or in privately negotiated transactions. FLY has now repurchased 24% of its outstanding shares. Since Jun-2008, FLY has repurchased more than 8 million of its shares at an average price of less than USD8.00 per share. After the latest repurchase, FLY had a total of 25.7 million shares outstanding. [more]
FLY Leasing repurchases more than one million shares
You may also be interested in the following articles...
HNA's Avolon group to acquire CIT Commercial Air, creating world’s third largest aircraft lessor
HNA Group’s remarkable spending spree continues, with the announcement that its Avolon subsidiary will acquire CIT Commercial Air, the aircraft leasing arm of CIT Group.
The USD10 billion deal will create the world’s third largest lessor - and they may be more to come yet.
Avolon itself was only recently acquired by HNA Group, with the USD2.7 billion purchase agreement being finalised in Jan-2016, via Bohai Capital Holdings.
Avolon is now the core aircraft leasing brand for the HNA Group. Including assets from Hong Kong Aviation Capital, Bohai Capital and several smaller HNA Group leasing firms, Avolon has a fleet of nearly 250 aircraft and almost 200 more on order.
IAG Group: Vueling is stalling, but Aer Lingus helps to grow 2Q profits. 2016 outlook lowered
IAG increased its 2Q2016 operating profit modestly, but only because Aer Lingus boosted this year's numbers (it was not in the group in 2Q2015). The quarter was affected by externalities: negative currency impacts and softer demand conditions resulting from terrorism, the Brexit vote, macroeconomic weakness in Latin America and air traffic control strikes in Europe. The resultant deteriorating unit revenue trend was offset by lower unit costs, mainly due to lower fuel prices.
Three of IAG's four operating airlines improved their margin in 1H2016 but Vueling's declined, since the external disruption affected it the most. Vueling's operating margin has been on a downward trend since its acquisition by IAG in 2013. Its capacity growth plans for FY2016 have now been trimmed, also scaling back the group's growth for the year.
IAG now expects 2016 operating profit growth of a low single-digit percentage, much less than the 40% increase previously anticipated but still an increase. This outlook is more positive than that given recently by Lufthansa, which expects a fall in profit this year. Moreover, IAG remains a higher margin group than either of Lufthansa or Air France-KLM, and should be better placed if there is to be a full-scale downturn.