Dubai Aerospace Enterprise (DAE) had delivered a notice of early redemption (the Redemption Notice) to the holders of the Company’s US$500 million 5.75% Senior Notes due 2023. The redemption date is scheduled for March 1, 2021. The outstanding principal amount as of the date of the Redemption Notice was approximately US$456.1 million. The Notes will
Bombardier has confirmed the closing of the previously announced sale of its transportation business to Alstom. Total proceeds to the vendors after the deduction of debt-like items and transferred liabilities are US$6.0 billion. After deducting la Caisse de dépôt et placement du Québec equity position of US$2.5 billion, transaction costs, and including the impact from closing adjustments and
SIA Engineering Group has recorded revenue of SG$104.6 million for the third quarter of full-year 2020-21, SG$147.5 million lower year-on-year (-58.5%). Even as cost-cutting measures and grants from government support schemes remained, the reduction in Group expenditure of SG$132.5 million (-56.1%) could not fully offset the reduction in revenue. Consequently, the Group recorded a lower
Southwest Airlines’ fourth-quarter 2020 total operating revenues decreased 64.9%, year-over-year, to US$2.0 billion, as a result of continued negative impacts on passenger demand and bookings due to the pandemic. Fourth-quarter 2020 operating revenue per ASM (RASM, or unit revenues) was 8.48 cents, a decrease of 40.8%, primarily driven by a load factor decline of 29.3
Rex shareholders have endorsed the airline’s investment deal with PAG to fund its domestic operations, starting on March 1. Shareholders voted to approve the deal at Rex’s Annual General Meeting on January 29. Under the deal, PAG Regulus Holdings will fund up to AU$150 million to be used exclusively to support the launch and operation
Boeing has released its fourth-quarter and full-year 2020 financial results, which do not make good reading. The company reported fourth-quarter revenue of US$15.3 billion, reflecting lower commercial deliveries and services volume primarily due to COVID-19 as well as 787 production issues, partially offset by a lower 737 MAX customer considerations charge in the quarter compared
Boston-based industrial conglomerate General Electric (GE) has predicted free cash flow of US$2.5 billion to US$4.5 billion this year after generating cash flow of US$4.4 billion in the fourth quarter. These figures indicate that GE’s Chief Executive Larry Culp’s 2018 turnaround plans are gathering steam, having helped drive cash savings and rendering GE’s businesses more
Alaska Air Group has posted a fourth-quarter 2020 GAAP net loss of US$430 million, compared to net income of US$181 million in 2019. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, the company reported a fourth-quarter adjusted net loss of US$316 million compared to adjusted net income
Since the beginning of the COVID-19 crisis, United has raised over US$26 billion in liquidity and made important progress in reducing core cash burn to ensure the company’s survival. Over the last three quarters, the company has identified US$1.4 billion of annual cost savings and has a path to achieve at least US$2.0 billion in
International Airlines Group (IAG) and Globalia have amended the original agreement announced on November 4, 2019 (the Original Agreement) under which IAG’s subsidiary Iberia has agreed to acquire the entire issued share capital of Air Europa (the Amendment Agreement). Under the terms of the Amendment Agreement, the parties have agreed that the amount to be
