At a special meeting of Transat shareholders held on December 15, an overwhelming majority of shareholders voted in favor of the special resolution approving the plan of arrangement under Section 192 of the Canada Business Corporations Act appended to the arrangement agreement entered into between Air Canada and Transat on October 9, 2020 and pursuant to which Air
HEICO Corporation has amended and extended its existing credit facility to a US$1.5 billion unsecured revolving credit facility with a one-year extension to its maturity date, now November 2023, with the option for an additional one-year extension. The Facility is with a banking syndicate led by Truist Bank, Bank of America and Wells Fargo Bank.
The State of Finland is preparing to make up to €400 million available to Finnair in the form of an unsecured hybrid loan. The final decision on the possible financing arrangement is subject to a decision by the Government Plenary session, which will also confirm the final terms and conditions of the loan. The hybrid
As part of its £2 billion disposal plan announced in August, Rolls-Royce has announced that it intends to dispose of Industria de Turbo Propulsores (ITP Aero) which has seen a continued negative impact on trading owing to the challenging civil aerospace market. However, defense, which represents 25% of ITP Aero volumes, benefited from the Eurofighter
Leonardo and the European Investment Bank (EIB) have signed a loan agreement of €200 million. The financing has the purpose of supporting the investment projects planned in the group’s industrial plan against the background of the impact of the COVID-19 pandemic. This further loan by the EIB brings the investment support of the loan signed
Only days after TUI, the Anglo-German multinational travel and tourism company headquartered in Hanover, Germany secured a third round of emergency funding for €1. 8 billion, it has posted an annual loss of €3.0 billion as a result of the effect of the COVID-19 pandemic on the holiday industry sector. TUI had previously secured state
As a part of Finnair’s rebuild program, the company has been granted export credit support in excess of €100 million (US$121 million) from the export credit agencies of Germany, France and the United Kingdom. Credit support has been offered to qualified purchasers of Airbus aircraft and, in this case, it has been granted for the
Veritas Capital and Northrop Grumman Corporation have announced that Peraton, an affiliate of Veritas Capital, has signed a definitive agreement to acquire Northrop Grumman’s federal IT and mission support services business for US$3.4 billion in cash. The transaction is expected to close in the first half of 2021, subject to regulatory approvals and customary closing
Joby Aviation, a transportation company developing an all-electric, vertical take-off and landing passenger aircraft, which it intends to operate as early as 2023, has released that Uber Technologies has agreed to invest a further US$75 million in Joby as part of a broader transaction involving the acquisition of Uber Elevate by Joby and an expanded
Following Norwegian being made subject to the examinership process in Ireland on December 7, the company now wants to enter into a supplementary Norwegian reconstruction process. “We will now concentrate on working towards our goal of reducing company debt, reducing the size of our aircraft fleet, and ensuring that we are a company that investors
