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Chinese, Japanese suitors eye $4 billion sale of CIT plane leasing unit: sources

Etihad Aviation Group and Partners boost financing platform strategy to US$1.2 Billion

Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles and Alitalia have successfully raised a further US$500 million in a second platform financing transaction, following the success of last year's award-winning bond which raised US$700 million. A roadshow was announc...

P.E.I. offers only rebate specific to aerospace sector

Ask any aerospace company on P.E.I. what attracted them to the Island and somewhere in the answer will be P.E.I.'s Aerospace Tax Rebate program.Take for example MDS Coating based at Slemon Park, which develops and manufactures coatings primarily for gas turbine engines. They moved to P.E.I....

Ryanair Full Year Profit Rises 43% To €1,242M

Ryanair, Europe’s No.1 airline, today (May 23) reported full year profits of €1,242m, a 43% increase on the prior year. Traffic grew 18% to 106m as load factor jumped 5% points to 93%. Ave. fare dropped 1% to €46 as unit costs fell 6% (ex-fuel down 2%) in Year 2 of its Always Getting Better (“AGB”) programme. Ryanair’s Michael O’Leary, said: “FY16...

Private jet booking platform Stratajet lands $8m in funding

Private jet booking platform Stratajet has announced the closure of a $8m funding round led by Octopus Ventures. The round, which also drew support from existing investors Playfair Capital and JamJam Investments, brings the company’s total funding to $14m. According to a statement, the money will allow the London headquartered company to invest in further development. Jonny Nicol, f...

CIC, Boeing, among 11 cornerstone investors in BoC Aviation IPO: IFR

BOC Aviation Ltd has secured 11 cornerstone investors for its $1.1 billion Hong Kong initial public offering (IPO), tapping China Investment Corp (CIC) and Boeing Co (BA.N) as it launched on Monday the largest listing by an aircraft lessor in at least five years. Sovereign wealth fund CIC [CIC.UL] and China's state-backed Silk Road Fund will invest $100 million each and compatriot CDB Inter...

Waypoint closes further $37 million in revolving credit

Waypoint Leasing has closed a further $37 million revolving credit facility with KeyBank’s Speciality Finance Lending unit. The company’s total revolving facility with KeyBank has now increased to $575 million. Waypoint say that they will use the extra funds to refinance helicopters that are currently financed with cash. “This facility further expands our valuable revolv...

Air Arabia profit jumps 42 per cent in first quarter

Budget carrier Air Arabia, the only publicly-listed airline in the UAE, reported a 42.2 per cent rise in first-quarter net profit today, beating analysts’ forecasts. The Sharjah-based firm made a net profit of Dh111.1 million in the three months to March 31, the company said in a statement. This compares with a profit of Dh78.1m in the corresponding period of 2015. Three analysts p...

airBaltic Share Capital Increase Completed

Yesterday the Shareholder Meeting of airBaltic decided the share capital increase of the Company by 131 152 036 shares with the nominal value of each share being EUR 1.  The newly approved share capital of airBaltic will now constitute EUR 256 472 824, composed of 256 472 824 shares. The share capital increase procedure is thus completed.  After the share capital increase, the Latvian...

Virgin expects to post $30-60 million underlying profit for full 2015/16 year

Virgin Australia says the airline group is on track for a full year profit despite a forecast second half loss amid weak demand in its key domestic market that has prompted capacity cuts focused on regional routes. The company reported a statutory loss after tax of $58.8 million for the three months to March 31, compared with $28.3 million loss in the prior corresponding period. Virgin said the...

Air Canada reports $101-million profit compared with a loss a year ago

Air Canada reported a profit of $101 million in its latest quarter compared with a loss a year ago. The airline says the profit amounted to 35 cents per diluted share compared with a loss of $309 million or $1.08 per diluted share in the same quarter last year. Operating revenue totalled $3.34 billion, up from $3.25 billion. On an adjusted basis, Air Canada said it earned a first-quarter...

Airbus shares nosedive after profit slumps

Shares in the European aerospace giant went into a sharp descent after it revealed a massive plunge in net profit following delays in deliveries and fresh problems with its troubled A400M military transport plane. Airbus stocks closed 4.8 percent lower at the Paris stock exchange on Thursday after the European aeronautics company unveiled a first-quarter net profit of 399 million euros ($453 mi...

Qantas and Vietnam Airlines to invest $181.5m in Jetstar Pacific

Qantas and Vietnam Airlines have unveiled plans to invest $US139 million ($181.5 million) to more than double the size of Vietnamese low-cost carrier Jetstar Pacific's fleet to 30 aircraft over the next four years. Qantas, as the owner of a 30 per cent stake, will provide $US42 million to Jetstar Pacific over a number of tranches between now and 2020 with Vietnam Airlines responsible for th...

Saudi Arabian Airlines planning own IPO

Airline chief Saleh Al Jasser says paperwork for a 30% listing of the cargo unit is being finalised. Saudi Arabian Airlines Corporation, the holding company of Saudi Arabian Airlines, is planning an initial public offering of the state-owned carrier, the airline’s director-general Saleh Al Jasser said on Monday. The listing is part of a five-year strategy to make the airline, also know...

CHC sets hard deadline

CHC Group, one of the world’s two largest helicopter operators, this week announced that it had decided not to make an interest payment on its bonds that mature in October 2020. It was due to pay $46 million on Monday. Although investors in the 9.25% senior secured notes are not happy, the company has a 30-day grace period before it is technically in default on these bonds. CHC could...

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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...

TrueNoord places firm order for 20 Embraer E195-E2 aircraft and secures purchase rights for up to 30 additional jets

TrueNoord has signed a firm order agreement with Embraer to acquire twenty factory-new E195-E2 aircraft. The agreement also includes purchase rights for up to twenty additional new E195-E2 aircra...