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Fitch: Global Aircraft Leasing Growing on Low Rates, Rising Air Traffic

Iran urges U.S. to unblock aircraft deals, seeks investors

Iran urged the United States on Sunday to remove remaining obstacles to it buying passenger planes following the lifting of international sanctions and spread out the welcome mat to foreign investors as it seeks to boost its aviation sector. Iran provisionally agreed earlier this year to buy over...

Turtles in space and jetpacks for all a target for Chinese tech pioneer

KuangChi Science, a Chinese technology company hoping to send tourists – and turtles – into space, could soon go on a US$600 million investment spurt. Later this year, it intends to send mice and turtles into near-space, up to 100km above sea level, via a capsule hooked up to balloons...

XTI Aircraft Company launches Series B financing

XTI Aircraft Company (XTI) today launched the next phase of its funding strategy to bring the TriFan 600 to market. In addition to its ongoing equity crowdfunding campaign, XTI entered into an engagement agreement with the New York investment bank Primary Capital LLC, for XTI's $20 million Series B round. The security being offered to each accredited investor under this financing is a convertib...

Safi Airways operations suspended due to AFN 1.15 billion outstanding debts

The operations of a major airline in Afghanistan, Safi Airways, was suspended due to a large outstanding debt and taxes payable by the airline, the Afghanistan Civil Aviation Authority (ACAA) said Sunday. According to a statement by Afghanistan Civil Aviation Authority (ACAA), the decision to suspend the operations of the airline was taken by the Ministry of Finance of Afghanistan. The state...

Aircraft demand expands in Asia Pacific to lift BOC Aviation profits

BOC Aviation, the aircraft leasing unit of Bank of China, has reported a 24 per cent increase in profit in the first half of the year as growth in travel boosts demand for planes. Net income in the six months through June rose to US$212.2 million, compared with $171.5m a year earlier, the company said in a statement to the Hong Kong stock exchange on Monday. Sales gained about 8 per cent to $57...

China’s Three Biggest Airlines Face $1.3 Billion Currency Losses

China’s three biggest airlines are poised to report losses totaling 8.5 billion yuan ($1.3 billion) from currency swings this year as a weaker yuan proves a drag amid rising traffic and cheaper fuel. The silver lining: The losses are narrowing. Flagship carrier Air China Ltd. may face 3 billion yuan in foreign-exchange losses, while China Southern Airlines Co., Asia’s biggest b...

Ryanair says profit guidance unchanged despite weaker fares

Ryanair does not plan to change its profit guidance despite seeing weaker than expected average fares over the summer months, the airline said on Friday after a briefing for industry analysts. Average fares in the six months to the end of September are likely to have fallen between 8 and 9 percent from a year earlier, worse than the fall of between 6 and 8 percent that was forecast in July...

Business Rescue for SAA – an absurd misdiagnosis

South African Airways (SAA) needs a going concern government guarantee in order to finalise its Annual Financial Statements (AFS). The matter has been brought to the attention of the shareholder representative (National Treasury) and there are extensive, on-going engagements on the matter with the aim of finding a resolution and to provide certainty to all concerned. This does not mean the company...

Taylor English Advises on $8 Billion Deal for Russian Airlines

Taylor English Duma LLP served as outside legal counsel to Russia’s Volga-Dnepr Group on its agreement to acquire 20 Boeing 747‑8F aircraft worth $8 billion. Based in Moscow, Volga-Dnepr Group is a consortium that owns, operates, and manages several cargo airlines. The deal – announced July 12, 2016 at the Farnborough Air Show – is a landmark transaction. It represen...

Fitch: Commercial Aircraft Delivery Outlook Intact Despite Order Slowdown

Fitch Rating’s large commercial aircraft (LCA) delivery outlook for 2016 and 2017 is intact despite some weakness in parts of the widebody aircraft market, delivery deferrals across most regions of the airline industry, and a likely decline in new orders in 2016 compared to 2015. While Fitch is more cautious than at the beginning of the year, the record order backlog combined with other s...

Profit up at Etihad Indian partner Jet

India airline Jet Airways, a member of the Etihad Airways partnership, reported a surge in operating profit in the first quarter of the 2016-17 financial year, but warned intense competition in the air travel market would continue into the second half. The operating profit leapt by 124 per cent to US$33 million in the three months to June end for India’s second-largest carrier, boosted by...

Lufthansa Cargo takes over time:matters Group

Lufthansa Cargo took over complete ownership of the time:matters Group, experts in global sameday delivery and time-critical international spare part logistics. The cargo airline, which spun off time:matters as a subsidiary in 2002, had already held a 49 per cent share. The majority 51 per cent shareholding had been held by financial investor Aheim Capital and time:matters management. Lufthansa Ca...

Ilyushin Finance Co has reduced the number of ordered CS300 from 32 to 20 aircrafts

The leasing company "Ilyushin Finance Co". (IFC) has reduced the number of ordered Bombardier CS300 from 32 to 20 aircrafts. The delivery is expected in late 2018. The parties explain this adjustments differently. According to Bombardier's opinion Russian customers consider new market’s demands, but IFC refers to the Canadian export agency which hasn’t provided cheap f...

Oman Air Agrees Sale And Leaseback Arrangement With Dubai Aerospace Enterprise

As Oman Air continues its ambitious fleet and network expansion plan, the airline has signed a letter of intent (LOI) with Dubai Aerospace Enterprise (DAE) Ltd for the sale and leaseback of two new B737-800 aircraft. The first of the two aircraft was delivered on 25th July and the second is expected to arrive at Muscat this month. Under Oman Air’s expansion programme, launched late 201...

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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...