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mba Provides Maintenance Cash Flow Forecast for CLAS US$713 Million ABS Deal

GE Capital Aviation Services and Virgin America Sign Lease Agreement for 10 Airbus A321neo Aircraft

GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, today announced it signed an agreement with Virgin America, Inc., to lease 10 new Airbus A321neo aircraft powered by CFM’s LEAP-1A engines to expand the carrier’s fleet. The first aircr...

Boeing Board Raises Share Repurchase Authorization to $14 Billion, Increases Dividend 20 Percent

The Boeing board of directors has raised the company’s authorization for its share repurchase program to $14 billion and declared that the company’s quarterly dividend will increase 20 percent to $1.09 per share. “Once again, we are demonstrating our commitment to a balanced cas...

Air Canada Announces Closing of US$537,092,000 Private Offering of Enhanced Equipment Trust Certificates

Air Canada announced today the closing of its previously announced private offering of three tranches of enhanced equipment trust certificates, in the aggregate face amount of U.S.$537,092,000. The private offering was comprised of Class AA certificates, Class A certificates and Class B certificates. The Class AA certificates have an interest rate of 3.750% per annum and a final expected distribut...

SkyWise attempt to sell off 50% of shares

SkyWise launched an attempt to raise ZAR150 million (USD10.44 million) by selling a 50% stake in the airline. The LCC looked to sell 1,500 shares valued ZAR100 000 (USD6,961) last week, with a minimum of ten to be acquired by each investor. SkyWise was grounded this month for the second time in three months after failing to settle ZAR8 million (USD556,856) in outstanding fees to...

Global Jet Capital completes 90% purchase of GE fixed wing portfolio

Global Jet Capital has completed 90% of its acquisition of GE’s fixed wing aircraft financed portfolio. The company has so far assumed 276 aircraft based in the US and Canada, with the remaining 10% of accounts being in Brazil and Mexico. “Today’s announcement is a significant step in further cementing our position as a leader in business aviation finance in the Americas.&r...

ALC announces the lease placement of two new Boeing 787-9 Dreamliners with El Al

Air Lease Corporation (ALC) (Los Angeles) has announced an agreement to lease two new Boeing 787-9 Dreamliner aircraft to El Al Israel Airlines (Tel Aviv). Both aircraft are on long-term lease from ALC’s order book with Boeing and are scheduled to be delivered to Israel’s flag carrier airline in the third quarter and early fourth quarter of 2017. These new Boeing 787-9 Dreamliner ai...

Double aviation taxation avoidance pact will benefit Taiwan, Macau: MOF

The newly concluded Taiwan-Macau double taxation avoidance agreement on aviation businesses will boost the development of air transport between the two sides and increase bilateral business and people-to-people exchanges, according to the Ministry of Finance (MOF). Taiwanese carriers Eva Air and TransAsia Airways, as well as Tigerair Taiwan -- a joint venture between Taiwan's China Airlines...

Low Oil, High Travel Demand to Boost Airline Profits Next Year: IATA

Low oil prices and healthy demand for travel, despite recent terror attacks hurting some destinations, will boost airline profits again in 2016, the International Air Transport Association (IATA) said on Thursday. IATA, which represents almost 260 airlines accounting for 83 percent of global air traffic, said net profit would reach record levels of US$36.3 billion, after US$33 billion in 2...

Branson Airline Lands EUR304 Million - Without Selling Its Lucrative Heathrow Slots

Richard Branson's Virgin Atlantic Airways said it raised 220 million pounds (EUR304 million) from Europe's first-ever bonds secured against airport operating slots. The issue, backed by scarce take-off and landing positions at London's Heathrow airport, will help finance long- term investments including the purchase of new aircraft Virgin said. The deal is the company...

U.S. Challenges China's Tax Exemptions for Aircraft at WTO

The United States on Tuesday launched a challenge to Chinese tax exemptions for locally produced aircraft, saying they discriminated against imported planes. The request for consultations with China at the World Trade Organization over a value-added tax of 17 percent on small to medium-sized planes is the first step in a process that could lead to trade sanctions. The U.S. Trade Representati...

Ernst and Young forensics tables report on South African Airways procurement investigation

This week Ernst and Young forensics tabled with the SAA Board, its draft report in respect of the procurement investigation at SAA. This report is the first of a number of investigations that will examine specific areas of the business that will identify reasons for the company’s unprofitable trading. The report that is currently being studied by the Board will be follow...

Paris attacks cost Air France-KLM €50m in lost revenue

Air France-KLM has said that the Paris attacks, in which 130 people were killed, led to a €50m ($54m; £36m) drop in revenues as trips were cancelled. However, the airline group said it expected the effect to have largely worn off by the end of December. The group said the attacks "significantly impacted" traffic to and from Paris. Before the attacks passenger numbers...

Hainan Airlines Cuts Fundraising Plan

Hainan Airlines (HU) announced Monday night to adjust its private placement released earlier in April, cutting the upper limit of the total funds from 24 billion yuan to 16.6 billion yuan. The Haikou-based carrier now plans to sell as many as 4.62 billion shares to raise 16.55 billion yuan in a private placement, down from the 24 billion yuan previously announced, the company said in a fil...

Air Zimbabwe protected from creditors until 2018

Air Zimbabwe has been protected from creditors for the next three years by the Zimbabwean parliament. The heavily indebted carrier has had its assets protected by the Air Zimbabwe Corporation (Repeal) Act, which has been amended to include provisions State Liabilities Act. The carrier has been given until July 3 2018 to settle its debts with creditors. Its sole share...

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Samson Sky secures $80 million to launch switchblade flying car production

Samson Sky, developer of the Switchblade Flying Car, announced it has secured an $80 million investment from Dubai‑based Matin Group. According to Sam Bousfield, CEO, Founder...

Kepplair Evolution accelerates its growth with a new €6 million funding round, bringing the total funding raised to €17.5 million

Kepplair Evolution, just days after completing the first pre‑modification flights of its prototype aircraft, has announced the closing of a new €6 million funding round — bringing total fin...