Nordic Aviation Capital Designated Activity Company (NAC or the Company) has successfully exited from the Chapter 11 restructuring process, having received confirmation of its Plan of Reorganization from the Bankruptcy Court on April 19, 2022. The Company emerges well-positioned for the future having eliminated nearly US$4.1 billion of debt, while significantly enhancing its liquidity, with
Aergo Capital (Aergo) has secured a US$17.5 million loan facility from volofin to assist in the finance and acquisition of five De Havilland Dash 8-400 aircraft on lease to Porter Airlines. Fred Browne, Chief Executive Officer of Aergo, commented: “We are delighted to have successfully completed the financing of the five-turboprop aircraft on lease to
During the second quarter, SAS has seen the highest number of passengers since the pandemic started. Meanwhile, work on the necessary transformation plan, SAS FORWARD, continues. Passengers flying with SAS increased 28% compared to the previous quarter and the flown load factor reached approximately 67%, up 11 percentage points compared with the earlier quarter while
Altavair, a global leader in commercial aviation finance, has announced the closing of a sale-and-leaseback with airBaltic for four Airbus A220-300 aircraft. The acquisition was funded by funds and accounts managed by KKR, with Altavair acting as servicer on the assets. “We are pleased to support airBaltic with this transaction,” said Matt Hoesley, Head of
IBC Advanced Alloys has reported its financial results for the quarter ended March 31, 2022. IBC booked another profitable quarter with comprehensive income of US$287,000 in the quarter, a 107% increase over comprehensive income of US$139,000 in the prior-year period. This quarter’s success marks IBC’s second consecutive quarter of profitable operations. Consolidated sales of US$6.3
Kaman Corporation has entered into a definitive agreement with Parker-Hannifin Corporation (Parker), under which Kaman will acquire Parker’s aircraft wheel & brake division (Aircraft Wheel & Brake) for US$440 million (£349 million), subject to a customary working capital adjustment and the receipt of all necessary regulatory approvals. Parker is divesting Aircraft Wheel & Brake in
Embraer, ITA (Technological Institute of Aeronautics), and FAPESP (São Paulo Research Foundation) have announced the approval of a joint investment of R$ 48 million (£8 million) in an Engineering Research Centre (ERC) for the future of air mobility over the next five years. This unprecedented research in Brazil will gather representatives of the scientific community
Air France-KLM has announced that it is in negotiations with private equity Firm Apollo Global Management over a potential €500 million capital injection which will be used to partially repay French state aid connected to one of its engineering and maintenance units which owns a pool of engines. The deal will not involve any equity
The Singapore Airlines (SIA) Group carried 3.9 million passengers in FY2021/22, up six-fold from a year before, with international air travel recovering in the last six months as global border restrictions eased. The Group ramped up passenger capacity (measured in available seat-kilometres) in a calibrated manner, growing from 24% of pre-Covid levels in April 2021
AerCap Holdings has reported financial results for the first quarter ended March 31, 2022. The company posted a net loss for the first quarter, including net charges related to the Ukraine conflict, of US$2.0 billion. Net income for the first quarter was US$540 million after adjustments for net charges related to the Ukraine conflict and
