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ICBC Financial Leasing refinances China Eastern aircraft with DVB

Credit Suisse plans to sell U.S. private bank: newspaper

Credit Suisse Group intends to sell its U.S. private bank and slash its prime brokerage business under a strategy being developed by new Chief Executive Tidjane Thiam, Swiss newspaper Schweiz am Sonntag reported on Sunday. Results will be presented to the bank's board in early October o...

Etihad & Co. hit bond market in bid to raise $1bn

Etihad Airways and several of its equity partners and subsidiaries have set up a Dutch limited liability private company - EA Partners1 BV - ahead of a USD1 billion bond issuance later this week. Funds raised through the issuance will be used to settle debt obligations attributed to the seve...

Estonian Air’s restructuring plan has taken the airline to a profitable summer 2015

In addition to June and July this year, Estonian Air earned profit also in August. The profit of three months amounted to almost half a million euros. Last time the company had bottom line profit three months in a row in summer 2010. „We are happy to see that the company continued to operate profitably also in August despite of the fact that competition at aviation market has significantl...

Deutsche Bank CEO to shy away from 'big bang' reform at board summit

John Cryan, Deutsche Bank’s new chief executive, will not present “big bang” reforms at a weekend supervisory board retreat, rather an acceleration of existing plans to shed assets and exit countries. The group’s 19-member top oversight body began a three-day meeting late on Thursday set to be held at the luxury Alpine resort near the Tegernsee lake south of Munich,...

Oil slides as Goldman Sachs cuts price forecast

Crude futures fell on Friday after Wall Street's most influential voice in oil trading, Goldman Sachs, slashed its price outlook through next year, citing oversupply and concerns about China's economy. Joining Germany's Commerzbank and a long list of other banks in cutting price projections, Goldman lowered its 2016 forecast for U.S. crude to $45 a barrel from $57 previously, and Br...

Sino-US signs contract for three more AW119KX helicopters

Finmeccanica-AgustaWestland announced today that Sino-US Intercontinental signed a contract for three AW119Kx single engine helicopters, further expanding the presence of AgustaWestland helicopters in the Chinese civil market. The three helicopters are expected to be delivered within 2015. Sino-US Intercontinental acts as an official non-exclusive distributor for AgustaWestland civil helicopter...

Rolls Royce Trent 700 selected for Airbus Beluga XL

Rolls Royce Trent 700 engines and long-term TotalCare engine support have been selected for the five new Airbus Beluga XL Transporter. The new range will replace the existing Airbus Beluga fleet, and use the $700 million engines. The Beluga XL was launched last November, and will provide Airbus with an extra 30 per cent air transport capacity. “We look forward to the...

TriFan 600 Takes Off as Crowdfunding Soars to $4 Million

In just two weeks, equity crowdfunders have reserved shares for more than $4 million viastartengine.com/startup/xti to support development of an airplane with the speed, range, and comfort of a business jet and the ability to take off and land like a helicopter. XTI Aircraft Company (XTI) is pioneering the first use of crowdfunding for commercial airplane development, and at...

Oman Air and Air Lease Corporation Announce New Lease Agreements

Today Oman Air and Air Lease Corporation (NYSE: AL) announced long term lease agreements for 14 jet aircraft. The lease agreements cover three new Boeing 737-800s, seven new Boeing 737-8MAXs, and one new Boeing 787-9, all from ALC’s order book with Boeing. This transaction also includes one used Boeing 737-700 (MSN 33103) and two used Boeing 737-800 aircraft (MSNs 33104 and 34242). The...

TUI Group continues profitable growth in Q3 2014/15

TUI Group has concluded the third quarter of financial year 2014/15 delivering earnings and turnover growth. However, the period under review was overshadowed by the terrible attack in Tunisia at the end of June. Supporting the families of the victims, customers and its employees remains the highest priority of the Group. In the three months from April to June 2015, the Group improved its...

China's CEFC adds to Czech buying spree with airline, brewery deals

China's sixth largest private company CEFC added to a weeklong buying spree in the Czech Republic on Saturday, announcing deals to buy a majority stake in a top brewery group and a share in an airline company in the central European country. The Czechs have sought more investment ties with the world's second largest economy. This week President Milos Zeman was the only Western leader to...

Los Angeles drops mortgage discrimination case against JPMorgan

Los Angeles has dropped a lawsuit accusing JPMorgan Chase (JPM.N), the largest U.S. bank, of discriminatory mortgage lending, ending the first of the city's four lawsuits accusing major banks of driving up foreclosures among minority borrowers. Disclosed in a filing on Tuesday in a California federal court, the agreement ends a lawsuit attempting to hold the bank liable for lost property ta...

Unit of China's HNA to buy Avolon Holdings for $2.5 billion

Irish aircraft leasing firm Avolon Holdings Ltd (AVOL.N) said it agreed to be acquired for about $2.5 billion by Bohai Leasing Co Ltd (000415.SZ), a unit of Chinese aviation and shipping conglomerate HNA Group. Avolon shareholders will receive $31 per share in cash, which is lower than the $32 per share the companies were discussing in exclusive talks in August. Avolon said the lower price was...

PrivatAir unit acquires 30% stake in Saudia Private Aviation

PrivatAir Saudi Arabia, the Saudi subsidiary of PrivatAir (Switzerland) (PV, Geneva), has acquired a 30% stake in Saudia Private Aviation (SVA, Jeddah). The value of the transaction, which closed in July, was not disclosed. Saudi Private Aviation is the the VIP charter subsidiary of Saudia (SV, Jeddah) offering a fleet of private jets for ad-hoc char...

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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...