Delta Air Lines has reported financial results for the first quarter 2021, posting AN adjusted pre-tax loss of US$2.9 billion excluding US$1.2 billion of benefit related to the first payroll support program extension (PSP2), which is partially offset among other items, by the debt extinguishment charges incurred when pre-paying its US$1.5 billion slots, gates and
Norwegian Air Shuttle (Norwegian) has increased its target of cash being raised prior to exiting bankruptcy protection. Courts in both Dublin and Oslo had recently agreed for the airline to convert debt to stock, but only on the condition that it raised a further NEK4.5 billion. However, that figure has been increased to NEK6 billion
Air Canada has entered into a series of debt and equity financing agreements with the Government of Canada, which will allow Air Canada to access up to CA$5.879 billion in liquidity through the Large Employer Emergency Financing Facility (LEEFF) program. The financial package provides for fully repayable loans that Air Canada would only draw down as
Causeway Aero Group has acquired Pitch Aircraft Seating Systems for an undisclosed sum. This follows the award, in March 2019, of a contract for Causeway to certify, manufacture, and assemble the Pitch PF3000 lightweight, fixed back economy class seat, at its facility in Lisburn, Northern Ireland. The Pitch brand completes Causeway’s ‘nose to tail’ aero
Premier Aviation Quebec (PAQ) has finalized its sale to Sylvain Perron current COO of PAQ and former CFO of the Premier Aviation Group. Ronnie Di Bartolo, outgoing CEO and President, says: “The reputation of PAQ in the regional market has been established as one of the industry leading Regional MRO shops. Today I am pleased
RINA, the multinational inspection, certification and engineering consultancy company, has acquired the entire share capital of Interconsulting Engineering, headquartered in Rome, through its subsidiary RINA Consulting. Interconsulting Engineering brings cutting-edge know-how in the design and development of integrated systems, applications and high-tech solutions in avionics to the group. With a turnover of approx. €5 million
The EU has given the green light for the French government to inject up to €4 billion into Air France by increasing its current 14.3% stake in Air France KLM to 30%. The deal has been subject to weeks of negotiations as the EU has always been keen to ensure that any aid given to
Transat A.T. (Transat) has released that the contemplated arrangement with Air Canada under the revised Arrangement Agreement between Transat and Air Canada dated October 9, 2020 (the Arrangement Agreement) has been terminated by mutual agreement of Transat and Air Canada, effective immediately. The parties have reached this agreement after having been advised by the European Commission
British Airways has invested in ZeroAvia – a leading innovator in decarbonizing commercial aviation – in an effort to accelerate the development of 50+ seater aircraft capable of running on zero emissions hydrogen-electric power. British Airways and a group of investors including Horizons Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Summa Equity, Shell Ventures, and
German startup Lilium, which specializes on electric-powered vertical take-off and landing (VTOL) aircraft for inter-city travel has announced it is to float on the U.S. stock market through a reverse merger with Quell Acquisition Corp, a blank-check acquisition company. The deal values the combined businesses at US$3.3 billion and the merger is similar to that
