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Russia's UTair restructures $650mn debt with creditor banks

Deal-Making Hits China Plane Leasing As Billionaire Li Jumps in

China is making the aircraft-leasing business a popular destination for mergers and acquisitions. Plane-leasing companies in China have been involved in more than US$16 billion worth of acquisitions since last year, according to figures compiled by Bloomberg. In addition, billionaire tycoons such...

Aegean Airlines: Nine Month 2015 Financial Results

AEGEAN announces Nine Month 2015 results with consolidated revenue at €792.2m, 8% higher versus 2014. Total number of passengers carried rose by 17% to 9.2m as the company invested more capacity, increasing frequencies as well as adding new destinations. Net earnings after tax increased 4%...

Kroll Bond Rating Agency Assigns Preliminary Ratings to Castlelake Aircraft Securitization Trust 2015-1

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes (the “Notes”) issued by Castlelake Aircraft Securitization Trust 2015-1 (see ratings list below). Proceeds from the sale of the Notes will be used to purchase a fleet of 54 aircraft and six aircraft engines that are initially leased to 23 lessees located in 18 countries with an initial total value...

World’s top-performing airline stock decries depressed worth

Indian budget carrier SpiceJet Ltd. has surged more than 340 per cent in the past year after surviving a crisis. Chairman Ajay Singh said the best performing airline stock in the world remains undervalued. SpiceJet’s market capitalisation of about 41 billion rupees ($621 million; Dh2.3 billion ) is too low given the $5.7 billion valuation for the operator of IndiGo, India’s biggest...

Alliance Aviation Buys 21 Fokker Jets from Lufthansa Group

Alliance Aviation Services has bought 21 Fokker jets from Lufthansa Group for US$15 million (AU$20.7 million) in cash and shares in a move that will give it spare parts to help its fleet run longer, expand operations into Europe and, potentially, sell the popular aircraft to operators like Qantas and Virgin Australia. Australia's fleet of regional aircraft is ageing, given that Fokker...

Zodiac Aerospace, income shrank by 44,6% in 2014/2015

The Supervisory Board of Zodiac Aerospace Group met on November 23, 2015 and approved the financial statements for fiscal year 2014/2015 (September to August). FY2014/2015 was marked by the difficulties faced by the Group's Aircraft Interiors business, and in particular the growth crisis experienced by the Zodiac Seats segment. These difficulties have led to a drop in Current Operating Income....

Tuniu Declines As HNA Deal Underscores China Travel Competition

Tuniu Corp. ended a two-day gain as investors bet a US$500 million investment from HNA Tourism Group Co. won't be enough to turn the company profitable amid competition in China's online travel-booking industry. The American depositary receipts declined 0.8 percent to US$15.59 in New York on Monday after erasing a gain of as much as 7.2 percent. Trading volume of two million was more th...

China Eastern Issues 2 Billion Yuan Super & Short-Term Commercial Paper

China Eastern Airlines (MU) Friday completed the issue of a 2 billion yuan super & short-term commercial paper (SCP), its sixth batch of SCP this year. The SCP will have a maturity of 270 yuan, with a face value of 100 yuan and an interest rate of 3.1%. The Shanghai-based carrier said the fund collected from the SCP will be used to replace loans of the airline and its subsidiaries. Th...

Lenders to Grounded Kingfisher Air to Auction Some Assets

Lenders who are owed more than US$1 billion by grounded carrier Kingfisher Airlines Ltd are putting up for sale some of its assets including cars and forklifts. An auction notice appeared on Saturday on the website of the trustee company representing the creditors. Kingfisher, founded by liquor baron Vijay Mallya and once India's second-biggest airline, stopped flying three years ago as...

Boeing, GE Capital Aviation Services Celebrate Delivery of Lessor's 500th Boeing Airplane

Boeing announced the delivery of the 500th Boeing airplane to GE Capital Aviation Services (GECAS). The Next-Generation 737-800 will be leased to Kenya Airways and is the 401st 737 delivered to the leasing company. "This is a major milestone in our 20-year association with Boeing," said Norm Liu, President and CEO, GECAS. "We are proud to take delivery of our 500th Boeing airplan...

Record Profits for EL AL

EL AL’s President & CEO, David Maimon: “The Company presents record results in all parameters, from revenue growth to major increases in the Company’s operating profit and net profit, which in this quarter reached the highest peak of all times. These historic results are the consequence of business moves and actions taken by the Company in the various areas, and all w...

Standard & Poor's Rating Services Confirms Credit Rating of Moscow Domodedovo Airport at ‘ВВ+’

On 16 November, 2015 the company’s credit rating was confirmed on the as-is level, which reflects S&P’s opinion of the confident position of Domodedovo Airport in the face of market challenges. According to Standard & Poor's assessment, Moscow Domodedovo Airport is characterised by a stable market position based on high passenger traffic numbers and absence of infrastruc...

LATAM Defers Aircraft Deliveries in Bid to Save US$3 Billion

Following a third quarter net loss of US$113.3 million exacerbated by a slowing Brazilian economy, LATAM Airlines Group has announced plans to trim up to US$3 billion in fleet capital expenditure for the period 2016 to 2018. LATAM says it has already managed to save US$1.8 billion through the deferral of certain aircraft originally scheduled for delivery in 2017 and 2018. In a statement, t...

Virgin reaffirms guidance for return to profitability in 2015/16

Virgin Australia chief executive John Borghetti says the airline group is on track to return to profitability in the current financial year, reaffirming previous guidance. Borghetti told shareholders at the company’s annual general meeting in Brisbane on Wednesday that Virgin was continuing to gain more higher-yielding customers and was “well advanced in reaching our goal of 30 per...

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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...

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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...