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Jazeera Airways finalises voluntary capital reduction

EBRD finances Air Astana’s technical maintenance centre

The EBRD is supporting the growth programme of Kazakhstan’s national airline, Air Astana, with a loan of up to US$ 14 million equivalent in Kazakh tenge. The loan will finance the construction of the first aircraft maintenance facility in the country, and in the entire Central Asi...

Li Ka-Shing's CKI in the Running in US$3 Billion London City Airport Sale

Hong Kong tycoon Li Ka-Shing's Cheung Kong Infrastructure Holdings (CKI) is among the companies that have placed indicative offers for London City Airport, which has been put up for sale by U.S. owner Global Infrastructure Partners, sources familiar with the matter said. The remaining bidders...

Finnair to sell its facilities at Helsinki Airport to Finavia

Finnair’s strategic objective is to double its Asian traffic by 2020 from the level of 2010. To enable its growth, Finnair has ordered 19 new Airbus A350 XWB aircraft, which also increase Finnair’s cargo capacity considerably. With a view to the growth of its cargo traffic, Finnair is constructing a new state-of-the-art cargo terminal to be completed in 2017. At the same time, Finavia,...

Solar Plane Raises EUR$20 Million to Resume Record Round-the-World Trip

The Swiss solar-powered plane whose record-setting, round-the-world flight was put on hold in July by weather and battery trouble has raised the EUR$20 million it needs to finish the trip, co-founder and pilot Andre Borschberg said on Monday. Borschberg, at the United Nations' Paris climate summit with co-pilot Bertrand Piccard, said backers that include chemical maker Solvay, Swiss lift ma...

Aeroflot Announces 9M 2015 IFRS Financial Results

Aeroflot Group («the Group», Moscow Exchange ticker: AFLT) today published its consolidated interim financial statements for the nine months ended 30 September 2015, in accordance with International Financial Reporting Standards. 9M 2015 Operating and Financial Highlights for Aeroflot Group: • Group passenger traffic increased by 13.3% year-on-year,...

CALC Delivers Second of Six Airbus A320 Aircraft to China Eastern Airlines

China Aircraft Leasing Group Holdings Limited ("CALC" or the "Group), the largest independent aircraft operating lessor in China, completed the delivery of the second of six A320 aircraft to China Eastern Airlines Corporation Limited ("China Eastern Airlines" or "CEA") at the facilities of Airbus in Toulouse, France on November 27, 2015, marking the 59t...

Airline Stocks Soar As Lower Oil Prices Bring Down Fares

Stocks of aviation companies are having a dream run on the bourses with lower fuel prices providing the perfect takeoff for the beleaguered sector. The SpiceJet scrip has surged six-and-a-half times since hitting its 52-week low of 11.5 rupees in December last year. The stock hit its 52-week high of 72.5 rupees on November 24. The budget carrier, promoted by Ajay Singh, has zoomed more than fou...

Aeroflot to sell 6 A321 to AviaAM Leasing

On November 26, the Board of Directors of PJSC Aeroflot - Russian Airlines approved the sale of 6 Airbus A321-200 airliners to AviaAM Leasing AB, the company informed. Besides, the Board of Directors approved the 2016 operational results targets for Aeroflot Group. It is envisaged that this will include a regional carrier operating under the Rossiya brand and comprising the Rossiya, Donavia and...

Meggitt completes acquisition of advanced composites businesses

Meggitt completes acquisition of the advanced composites businesses of Cobham plc. Further to the announcement made on 10 August 2015, Meggitt confirms that the acquisition of the advanced composites businesses of Cobham plc (Cobham Advanced Composites Limited, Compass Composites Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc) for $US 200 million in cash has now rec...

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

UTair (UT, Khanty-Mansiysk) has signed two agreements with eleven creditor banks to restructure RUB43 billion (USD657.9 million) worth of debt. The first agreement involves a syndicated loan for RUB18.9 billion (USD287.2 million) for a period of seven years while the second is for RUB24.1 billion (USD366.2 million) over 12 years. However, sources who spoke to Russia's Vedomosti newspaper sa...

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 as Li Ka-shing, Hong Kong's richest man, have entered the industry during that period. Behin...

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% to €81.9m. During the third and most important quarter as far as demand seasonality is conc...

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...

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Top of the week

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...