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
Boeing Co. has accepted liability for the crash of the Ethiopian Airlines 737 MAX on March 12, 2019, in which all 157 passengers and crew were killed, according to a filing in the US District Court in Chicago. In a statement Boeing admitted under the agreement “that the 737 MAX had an unsafe condition and
The SIA Group has reported financial performance for the first half of FY2021/22. Group revenue rose SG$1,193 million (+73.0%) year-on-year to SG$2,827 million, attributable to improvements in both passenger and cargo segments. Passenger flown revenue grew by SG$598 million (+385.8%) on the back of the recovery in traffic, partly offset by weaker yields. Cargo flown
