Business & General Aviation News - North America.

 
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New York (AirGuideBusiness - Business & General Aviation News North America) Nov 27, 2011

Research and Markets: Global Business Aviation Industry - SWOT Analysis & Outlook for 2012 Research and Markets has announced the addition of the "Global Business Aviation Industry - SWOT Analysis & Outlook for 2012" report to their offering. This Strategic Report Analyzes & provides Key Insights through a SWOT framework analysis into the Global Business Aviation Industry based on a comprehensive industry and market analysis against the backdrop of an evolving industry landscape amid difficult global macroeconomic environment as well as conditions. The Report Will Provide & Will Be Useful For: [yen]Including Analysis as Vital Inputs for Internal Strategic Planning and Decision-Making Process [yen]Analysis of inherent Industry Strengths and Weaknesses [yen]Identification and Analysis of Imminent Market Opportunities and Emerging Potential Threats [yen]Identifying and highlighting areas for making Potential Strategic Changes, Adjustments and Realignment [yen]Industry Outlook for 2012 The report would be essential for those having strategic interest in the Global Business Aviation Industry and will be especially useful for key decision makers, top management of companies, suppliers, vendors, current and potential investors, industry and company analysts and those associated with the industry. The report is comprehensive yet concise and compact at the same time, built on the PowerPoint platform; thus enabling and ensuring prompt and informed decision making. Nov 23, 2011

Air Methods Air Methods Announces Receipt of SEC Guidance Related to the Company's Accounting for Aircraft Leases. Air Methods Corporation announced today that the Company will restate its financial results after receiving a response from the U.S. Securities and Exchange Commission (SEC). The SEC responded to the Company's previous request for guidance concerning the appropriate GAAP interpretation of the maximum amount that the Company could be required to pay as described in ASC 840-10-25-14, in the event of a non-performance-related default. As a result of the restatement, most of the Company's aircraft leases previously classified as operating leases will now be classified as capital leases in the Company's consolidated financial statements. The periods covered by the restatement are the year ended December 31, 2010 and the quarters ended March 31, 2011; June 30, 2011 and September 30, 2011. The Company expects to file the restated financial statements before the end of December 2011 or as soon as practicable thereafter. Based on the Company's preliminary calculations, the Company expects the earnings per share for fiscal year 2010 and the nine-month period ended September 30, 2011 to decrease from USD3.50 to approximately USD3.37 and USD2.70 to approximately USD2.66, respectively. Earnings before interest, taxes, depreciation and amortization (EBITDA) for fiscal year 2010 and the nine-month period ended September 30, 2011 is expected to increase by USD48 million and USD36 million, respectively, while capital lease obligations as of September 30, 2011 are expected to increase by approximately USD263 million. KPMG LLP, the Company's independent registered public accounting firm, and management are still in the process of reviewing these adjustments and therefore these amounts are subject to change. Aaron Todd, Air Methods chief executive officer, stated, "We are respectful of the guidance we have just received from the SEC and will promptly adjust our accounting methodology to conform to this guidance. While these changes will result in slight reductions in earnings per share (less than 4% for fiscal year 2010), the increase in EBITDA compared with the increase in capital lease obligations should more appropriately reflect the Company's enterprise value when computed based on multiples of EBITDA." Additional information regarding the restatement is included in the Form 8-K filed by the Company on November 22, 2011 with the SEC. Air Methods Corporation is a leader in emergency aeromedical transportation and medical services. The Hospital Based Services Division is the largest provider of air medical transport services for hospitals. The Community Based Services Division is one of the largest community-based providers of air medical services. Products Division specializes in the design and manufacture of aeromedical and aerospace technology. Air Methods' fleet of owned, leased or maintained aircraft features over 400 helicopters and fixed wing aircraft. Nov 22, 2011

Bismarck Airport Editorial: North Dakota airport is thriving. Bismarck Airport in Bismarck, N.D., reported a 25% increase in sales of general aviation fuel during the first eight months of the year, this editorial says. "Truly, the municipal airport is an asset for the community." Nov 22, 2011

Bombardier Bombardier will focus on timely delivery of CSeries, CEO says. Bombardier CEO Pierre Beaudoin says the Canadian aircraft manufacturer is focusing on delivering its CSeries jet on time. "For me, the orders on the CSeries are not the concern," he said. "The concern is to keep this project on cost, and on time." Bombardier has received 133 firm orders for the CSeries jet. Nov 21, 2011

Cessna Cessna's market share of light sport aircraft jumps to 8.5%. Cessna's market share of light sport aircraft has increased to 8.5%, an analysis by General Aviation News shows. The Cessna Skycatcher boasted 140 registrations logged with the Federal Aviation Administration in the first nine months of the year. However, Flight Design remains the market leader with 15.4% market share. Nov 23, 2011

Chesapeake Sport Pilot Pilots volunteer to fly holly to remote Virginia island. Pilots from Chesapeake Sport Pilot in Maryland will volunteer to fly holly Dec. 3 to a remote island in Virginia. "We are delighted to be able to host the Holly Run again this year," said Helen Woods, chief flight instructor. "Promoting the joy and fun of aviation is what Chesapeake Sport Pilot is all about." The Aircraft Owners and Pilot Association is also participating in the Holly Run. Nov 23, 2011

Dekalb Municipal Airport, Midwest Flight Academy Judge denies dismissal of lawsuit against Ill. airport manager. A federal judge has denied the dismissal of a lawsuit brought against the airport manager of Dekalb Taylor Municipal Airport in Illinois. Midwest Flight Academy filed a lawsuit against the manager, alleging that he...

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