Aviation leasing company LCI, has announced an agreement to acquire Nova Capital Aviation (Ireland), a division of the Nova Capital Group. Nova Capital Aviation (Ireland) represents the twin-engine rotary and fixed-wing aircraft lease division of the Nova Capital Group, with single-engine operations remaining within the Group. The acquisition will result in a substantial expansion of
easyJet Plc (easyJet) has posted a wider-than-expected headline loss for the fiscal year 2021 which the low-cost carrier has put down to the continued disruptive effect of the COVID-19 pandemic. The Luton, UK-based airline flew 58% fewer passengers compared to the prior-year period at 20.4 million. Total revenue declined by 52% which easyJet attributed to
Santiago, Chile-based LATAM Airlines Group S.A. (LATAM), South America’s largest air transportation group, saw its Chilean stock exchange share value plummet by 85% on Friday on the announcement of a restructuring programme that would see shares heavily diluted, though this loss was pared back to 45% by the close of trading. The Group was proposing
Israel Aerospace Industries has issued its consolidated financial statements for the nine months ended September 30, 2021 (reporting period) and for the third quarter of 2021 (Q3 2021). The company’s sales in the reporting period grew to approx. US$3,205 million compared with approx. US$3,084 million in the corresponding period of 2020, an increase of US$121
Israel’s Finance and Transportation Ministries have issued a joint statement announcing that the country’s cabinet has approved a further round of borrowing for carriers that have been affected by the ongoing COVID-19 pandemic. A total of US$44 million will be made available in the form of interest-free, three-year bonds. According to REUTERS news agency, any
Air Canada has released that due to its improved liquidity position and ongoing recovery from the pandemic it is withdrawing from further Government of Canada financial support. The support package, announced in April 2021, provided the carrier access to interest bearing loans of CA$5.375 billion through several separate credit facilities. To date, Air Canada has
Collins Aerospace has announced the acquisition of Dutch Thermoplastic Components (DTC), a leader in the development and fabrication of structural thermoplastic composite parts. With this acquisition, Collins will expand the use of advanced thermoplastics to make aircraft lighter and more fuel-efficient. Thermoplastic parts can be manufactured in minutes and the process can be easily automated,
ARRIS, the advanced manufacturer enabling the use of high-performance composites with new design latitudes for mass-market consumer products, transportation, and industrial applications, has raised US$88.5 million in Series C funding. Led by XN, the round saw participation from new and returning investors, including Modern Venture Partners, New Enterprise Associates (NEA), Taiwania Capital, Bosch, Valo Ventures,
Stratos, a leading aircraft investment specialist and asset manager, has announced it is the servicer of the new aircraft-backed ABS, SOLRR 2021-1 which closed on November 15 and raised US$$706.5 million of securitised debt for a portfolio of 22 narrow-body aircraft leased to ten airlines in eight countries. The equity was provided by a fund
GA Telesis has announced the closing of a new five-year US$225 million ABL credit facility led by HSBC Bank USA and Fifth Third Bank, as joint lead arrangers. The syndication was met with overwhelming interest and allowed the company to improve terms while expanding its existing bank group. The facility comprises nine global, super-regional and
