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To overcome crisis - airBaltic secures equity

The Cabinet of Ministers of the Republic of Latvia, as the majority shareholder of Latvian airline airBaltic, has today approved the investment of up to EUR 250 million into the equity of airBaltic in order to mitigate the company to overcome the economic crisis caused by CO...

LCI launches US$100 million helicopter co-investment vehicle with Thora Capital and RIVE Private Investment

LCI has strengthened its leasing platform with the establishment of a new co-investment vehicle with Thora Capital, LLC. and RIVE Private Investment as partners. The transaction covers six Leonardo AW139s and three Airbus H130 helicopters, all of which have long-term, secure debt financing in...


Mitsubishi Heavy Industries acquisition of Canadair Regional Jet Program

Mitsubishi Heavy Industries and Bombardier have agreed that all closing conditions have been met and the transaction pertaining to the acquisition of Canadair Regional Jet (CRJ) Program will close on June 1, 2020. The Program will be operated under the newly created group entities of MHI RJ Aviation Group (MHIRJ) and will commence upon closing. As part of the acquisition, MHI acqu...

Qantas Group - increasing resilience for long-term recovery

The Qantas Group has continued to strengthen its ability to deal with the short and likely long-term impacts of the coronavirus crisis. It has also extended flight cancellations from end-May through to the end of July, which were still at pre-coronavirus levels – but some capacity can be added back in if domestic and Trans-Tasman restrictions ease in coming weeks. Given the consequence...

Safran: Adapting to an unprecedented situation

CEO Philippe Petitcolin commented: "Over the past year, Safran has successfully managed the impact of the 737MAX crisis. The situation we are facing today is of a different order of magnitude, although it remains difficult, at this point, to measure precisely its far-reaching consequences. The actions which my fellow managers and I have launched are timely, tailored to each particular s...

Airbus reports First Quarter 2020 results

Airbus SE reported consolidated financial results for its First Quarter (Q1) ended 31 March 2020. “We saw a solid start to the year both commercially and industrially but we are quickly seeing the impact of the COVID-19 pandemic coming through in the numbers,” said Airbus Chief Executive Officer Guillaume Faury. “We are now in the midst of the gravest crisis the aerospace indu...

The Air France-KLM Group and Air France secure funding of €7 billion

In its communication of 9 April 2020, the Air France-KLM Group stated that, given the major impact of the Covid-19 crisis, which will weigh heavily on its EBITDA, and despite the significant measures taken to preserve its liquidity, it predicted that in the absence of additional funding, a liquidity injection would be necessary in the third quarter of 2020. The Air France-KLM Group, Air France...

Virgin Australia enters voluntary administration

Virgin Australia has entered voluntary administration to recapitalise the business and help ensure it emerges in a stronger financial position on the other side of the COVID-19 crisis.  The Group’s Board of Directors has appointed Vaughan Strawbridge, John Greig, Sal Algeri and Richard Hughes of Deloitte as voluntary administrators of the company and a number of its subsidiaries. Veloci...

Norwegian pilot and cabin crew companies in Sweden and Denmark file for bankruptcy

Due to the ongoing spread of the Coronavirus (COVID-19) most countries have advised against or have banned non-essential travel. The closure of borders and quarantine restrictions has effectively brought the entire airline industry to a halt. Consequently, almost all of Norwegian’s flight operations have been cancelled, while the costs for air crew remain. The pilots and cabin crew in Scandi...

Significant cost reduction achieved by airBaltic

Since the beginning of the crisis caused by the spread of the Coronavirus, Latvian airline airBaltic has taken severe steps to ensure sufficient liquidity of the company enabling airBaltic to operate during a longer period with lower demand. airBaltic took a decision to decrease its overall capacity between April 15 and October 31, 2020, cancelling approximately 50% of...

Resilience and Responsibility: Airbus Annual General Meeting

Over the past 50 years, Airbus’ products and technologies have changed the aerospace industry beyond recognition. But now a game-changing moment has been reached as the sector and society in general address the impact of the coronavirus pandemic. Airbus holds its Annual General Meeting, focusing mainly on the Company’s 2019 operations, results and performance. As Airbus holds this...

Over half of 2020 passenger revenues at risk due to Covid19 crisis

IATA released updated analysis showing that the COVID-19 crisis will see airline passenger revenues drop by $314 billion in 2020, a 55% decline compared to 2019. On 24 March IATA estimated $252 billion in lost revenues (-44% vs. 2019) in a scenario with severe travel restrictions lasting three months. The updated figures reflect a significant deepening of the crisis since then, and re...

The impact of Covid-19 on jet sales: 21% drop in sale of pre-owned private jets in Europe

Analysis of industry data by Colibri Aircraft, the private jet broker which specialises in the marketing, resale and purchase of pre-owned private aircraft, reveals that 152 pre-owned private jets were bought in Europe in 2019 - a drop of 21% when compared to 2018 when there were 192 sales.  Despite this, Colibri Aircraft saw a significant increase in its transaction volume year-on-year....

European Commission approves €455 million Swedish guarantee scheme to support airlines

The European Commission has approved a Swedish loan guarantee scheme to support airlines affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “The coronavirus ou...

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Boeing forecasts sufficient capital for aviation finance

Boeing projects global and diversified funding will continue to flow into the aircraft financing sector as the aviation sector navigates the global pandemic and vaccine deployment continues to ac...

flypop signs multiple aircraft A330-300 lease deal with Avolon

flypop announced that is has signed a multiple aircraft A330-300 lease deal with Avolon, the world’s third largest aircraft lessor. Based in Ireland, Avolon provides lease and lease managem...