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Bombardier Reports Third Quarter 2016 Results

Air BP and BP Ventures announce investment of $30 million in biojet producer, Fulcrum

BP announced the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum BioEnergy, a pioneer in the development and production of low-carbon jet fuel, in which BP will invest $30 million. As an equity investor, BP has secured a 10 year offtake agreemen...

Dubai adds $3billion to airport expansion funding

Dubai is looking to raise US $3 billion to fund expansion of its two international airports and has hired HSBC to advise on raising the finance. The Department of Finance, Government of Dubai, says HSBC will advise it, the Investment Corporation of Dubai and Dubai Aviation City Corporation on raisin...

Surf Air shops for planes to expand into Europe

Surf Air, the Santa Monica-based company that charges a monthly fee for all-you-can-fly services, is shopping for planes to expand its business to Europe. Surf Air executives said they are negotiating with Kansas-based Textron Aviation, which builds Cessna planes, and Brazilian airplane manufacturer Embraer, to purchase a fleet of executive jets for the new venture. A Brazilia...

Fitch upgrades Russian Helicopters to 'BB+'

On October 26, 2016, Fitch Ratings upgraded Russian Helicopters JSC's (RH) Long-Term Issuer Default Rating (IDR) to 'BB+' from 'BB' and affirmed the Short-Term IDR at 'B'. The Outlook on the Long-Term IDR is Stable, the rating agency informed. The upgrade reflects Fitch's views that the recent improvement in the company's funds from operations (FFO), whilst e...

SilverArrow Acquires Majority Share of PrivatAir in Switzerland

SilverArrow Capital Group announced that it has acquired the majority share (51%) of PrivatAir, SA. PrivatAir is an international premium airline and leading business aviation group with headquarter in Geneva, Switzerland and operating offices in Duesseldorf, Germany and Lisbon, Portugal. PrivatAir operates a wide-range of aircrafts ranging from Boeing B767, B757, BBJs to Airbus A319 and busine...

Boeing Reports Third-Quarter Results and Raises Full Year Guidance

​​Boeing has reported profit that beat analysts’ expectations as the plane maker benefited from one-time tax gains and moderating production costs for the 787 Dreamliner. Third-quarter earnings were US$3.51 a share excluding a one-time accounting charge and some pension expenses, the Chicago company said. That was more than the $2.67 average of analysts’ estimates compiled by Bloomb...

MTU Aero Engines slightly raises earnings forecast following nine-month results

In the first nine months of 2016, MTU Aero Engines AG saw its revenues increase by 4% to €3,401.3 million (1-9/2015: €3,257.0 million). The group’s operating profit increased by 18% to €393.8 million (1-9/2015: €333.1 million), improving the EBIT margin from 10.2% to 11.6%. Earnings after tax increased by 18% to €273.4 million (1-9/2015: €231...

Rockwell Collins buys B/E Aerospace for $62 per share

Aircraft component maker Rockwell Collins Inc has struck a deal to buy aircraft interior maker B/E Aerospace Inc for $62 per share in cash and stock, the companies said on Sunday. The acquisition, valued at $6.4 billion plus the assumption of $1.9 billion in debt, expands the range of products Rockwell Collins supplies to major commercial and business aircraft and broadens its customer bas...

Boeing Provides More than US$3 Billion Annual Economic Benefit in Canada

Boeing contributes more than US$3 billion annually to Canada’s economic growth and development, according to a study commissioned by the company. Through its operations in Winnipeg and elsewhere, along with direct and indirect economic effects, Boeing supports more than 17,000 jobs across Canada according to the study done by Doyletech Corporation. The analysis also found that Boeing...

Aircraft leasing firm’s $10bn deal to create world’s third-largest rental fleet

China’s HNA Group, controlled by the billionaire Chen Feng, has agreed to buy the aircraft-leasing business of CIT Group for US$10 billion in a deal that would create the world’s third-largest rental fleet. HNA’s Avolon Holdings will expand its line-up to 910 aircraft valued at more than $43bn, including planes on order, the company said. The acquisition is scheduled to close...

Air Canada Completes C$1.25 Billion Refinancing

Air Canada announced that it has completed its previously announced private offering of C$200 million of 4.75% senior secured first lien notes due 2023 (the “2016 Senior Notes”) and the closing of its previously announced U.S.$1.1 billion new senior secured credit facility, comprised of a U.S.$800 million term loan maturing in 2023, together with a new, undrawn U.S.$300 millionrevolving credit fac...

Air China builds bridge with BOC Aviation in jet sale and lease deal

The aircraft lessor BOC Aviation said on Monday it would buy five new planes from Air China, worth a combined US$1.5 billion at list prices, and would lease them back to the carrier. Asia’s second-biggest aircraft lessor, with a fleet of more than 260 planes, said it would buy three new Boeing B777-300ERs and two new Airbus A330-300 aircraft. The company expects to take delivery of the...

Air Canada Announces Pricing of C$1.25 Billion Refinancing

Air Canada announced that it has priced a private offering of senior secured notes and received commitments from lenders for a new credit facility in connection with its C$1.25 billion refinancing transaction. As part of its refinancing transaction, Air Canada entered into a purchase agreement with a syndicate of initial purchasers relating to a private offering of C$200 million aggregate princ...

SATCOM DIRECT ACQUIRES AIRCRAFTLOGS, A PROVIDER OF AVIATION DATA MANAGEMENT SOLUTIONS

Global aeronautical communications provider, Satcom Direct (SD), announced it has acquired AircraftLogs (“Stewart-Ratliff Aviation Services, Inc”), a company based in Columbus, OH, that offers the latest technology in aircraft flight scheduling software and tax reporting tools for corporate and private flight departments. With the purchase of AircraftLogs, SD adds scheduling and t...

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Essential news

AerCap orders 100 additional Airbus A320neo family aircraft

AerCap has signed a firm order with  Airbus for 23 A320neo and 77 A321neo aircraft. This transaction underscores AirCap’s strategy of investing in the world's most in-demand, fuel-effic...

iOS Apps development in Riga, Latvia

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MTU Maintenance Lease Services invests in TRecs to digitalise engine transition management

MTU Maintenance Lease Services, the engine leasing and asset management arm of MTU Maintenance, announced a strategic minority investment in TRecs . TRecs is a platform digitalising Open Ite...

WingsLeasing signs dry lease agreement with University of Nebraska-Kearney flight school

WingsLeasing announced the signing of a dry lease agreement of seven Tecnam P-MENTOR aircraft for the University of Nebraska-Kearney flight training program, marking a significant step forward in resh...

Emirates breaks ground on US$ 5.1 billion ultra-modern engineering facility at Dubai South

Emirates has broken ground on its new US$ 5.1 billion engineering complex at Dubai South slated to become the world’s most modern and advanced MRO facility, cementing Emirates' and Duba...

AURA AERO scales up: Series B completed, first firm orders, and two industrial sites to be built in France and the U.S.

AURA AERO is entering a new phase. Thanks to a new €50 million funding round, grants secured in France and Europe, and financial support from the State of Florida for its U.S. plant, AURA AERO ha...

AerCap orders 100 additional Airbus A320neo family aircraft

AerCap has signed a firm order with  Airbus for 23 A320neo and 77 A321neo aircraft. This transaction underscores AirCap’s strategy of investing in the world's most in-demand, fuel-effic...

Aviation Capital Group orders 50 Boeing 737 MAX aircraft

Boeing and Aviation Capital Group LLC announced the airplane lessor has placed a new order for 50 737 MAX jets, including 25 737-8 and 25 737-10 airplanes. The acquisition of 50 additional jets i...

Vertical Aerospace insiders increase their shareholding in EVTL by 50% in November

16 members of Vertical Aerospace Board of Directors and senior leadership team completed open-market purchases of the Company’s ordinary shares over a two-week open trading window period in Nove...