Boeing today announced that Guggenheim Aviation Partner Fund II (GAIF II) has exercised options to purchase three 777 Freighters. The order, valued at approximately $750 million at list prices, was recently posted to the Boeing Orders and Deliveries Web site attributed to an unidentified customer. GAIF II has now ordered a total of six 777 Freighters and four 747-8 Freighters. Other Guggenheim Aviation Partners-managed funds have ordered six 747-400ER Freighters and have contracted to have seven 747-400s modified through the Boeing Converted Freighter Program.
Intel’s profits soar 43 percent
Intel Corp.’s profit leaped 43 percent in the third quarter as cost-cutting, swelling microprocessor demand and a massive restructuring helped the world’s largest semiconductor company glide past Wall Street’s already-bullish expectations. The Santa Clara, Calif.-based chipmaker said Tuesday it earned $1.86 billion, or 31 cents per share, in the three months ended in September. That beat by a penny the average estimate of analysts surveyed by Thomson Financial, and it’s 43 percent higher than the $1.3 billion, or 22 cents per share, Intel earned in the year-ago period. Intel is profiting from robust worldwide PC sales that are driving up demand for microprocessors.
Expenses eat into Yahoo’s earnings
Online search engine operator Yahoo Inc. said Tuesday its third-quarter earnings declined slightly as rising operating expenses overshadowed an increase in revenue. For the quarter ended Sept. 30, Yahoo earned $151.3 million, or 11 cents per share, compared with $158.5 million, or 11 cents per share, in the year-ago quarter. The firm’s revenue for the period totaled $1.77 billion, compared with $1.58 billion in the same quarter last year. The results beat expectations of analysts polled by Thomson Financial, who, on average, expected earnings of 8 cents per share on revenue of $1.24 billion.
India’s Jet Airways buys 20 737-800s
The Boeing Co. and Mumbai-based Jet Airways, India’s largest private airline, have completed a deal for 20 next-generation 737-800s. The order is valued at nearly $1.5 billion at list prices. “Today’s announcement reflects our continuing efforts to be the industry leader by combining superior service with reliable, comfortable and efficient operations,” said Naresh Goyal, chairman of Jet Airways. Jet Airways has one of the youngest aircraft fleets in the world, with an average fleet age of just under five years. The airline operates more than 340 daily flights.
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