Honeywell acquires Ballard Unmanned Systems

October 19, 2020

Honeywell has acquired assets from privately held Ballard Unmanned Systems, a wholly owned subsidiary of Southborough, Mass.-based Ballard Power Systems. Ballard Unmanned Systems designs and produces industry-leading, stored-hydrogen proton exchange membrane fuel cell systems that power unmanned aerial systems (UAS), particularly those used for energy inspection, cargo delivery, and other commercial and defense applications where

Rolls-Royce looks to double up on October 1 bond offering to now raise £2 billion

October 16, 2020

On October 1, Rolls-Royce Holdings (Rolls-Royce) announced its intention to raise at least £1 billion through a bond offering as part of its strategy to raise £5 billion in a recapitalization package to support its long-term strategy. However, unanticipated strong demand for the investor Notes has seen the company double the size of the offering,

Fly Leasing closes new US$180 million term loan

October 16, 2020

Fly Leasing (FLY), a global leader in aircraft leasing, has closed a new US$180 million term loan (the 2020 Term Loan). The interest rate on the five-year term loan is LIBOR plus 6.00% with a 1.00% LIBOR floor. The financing was issued at an original issue discount of 4.5%. The 2020 Term Loan will be

Delta Air Lines posts September quarter net loss of US$2.1 billion

October 14, 2020

Delta Air Lines has posted financial results for the September quarter 2020. Delta’s adjusted operating revenue of US$2.6 billion for the September quarter was down 79% versus the September 2019 quarter, as demand for air travel remains under significant pressure. Passenger revenues declined 83% on 63% lower capacity. Non-ticket revenue streams have performed relatively better

EU looks to persuade U.S. to drop trade tariffs surrounding Airbus-Boeing dispute

October 13, 2020

Valdis Dombrovskis, the new EU trade chief has warned the U.S that it needs to withdraw its US$7 billion tariffs it has recently placed on EU products or it will have to deal with a retaliatory US$4 billion in tariffs on exports to Europe. For 16 years there has been a dispute between Europe’s Airbus

easyJet has opened its new Integrated Control Centre (ICC) in Luton, UK © easyJet

easyJet looks to government for bespoke aid package for airline industry

October 9, 2020

easyJet’s CEO Johan Lundgren has openly turned to the U.K. government to provide a tailor-made package to help the airline industry recover from the catastrophic effects of the COVID-19 pandemic on air travel. The low-cost carrier is set to post its first-ever operating loss and is on target to lose between £815 million and £845

KLM looks to Dutch government for €3.4 billion loan which has strings attached

October 5, 2020

KLM Royal Dutch Airlines (KLM) has submitted its critical restructuring plan to the Dutch government as part of its commitment to reduce operating costs. The government had stipulated that the carrier needed to reassess its strategy, cost-cutting initiatives, financial considerations and how staff will embrace reduced employment conditions amounting to income-dependent, graduated cutbacks of up

Rolls-Royce looks to raise £5 billion to cope with pandemic fallout

October 2, 2020

Rolls-Royce, the manufacturer of jet engines which power both the Boeing 787 and Airbus A350 has seen its share price since the outbreak of the COVID-19 pandemic fall by over 80%. The company’s market value currently stands at approximately £2.0 billion. Part of the problem lies not just with a drop in demand for new

LCI and Sumitomo Mitsui Finance and Leasing launch US$230 million helicopter leasing joint venture

September 23, 2020

LCI, a leading helicopter lessor and the aviation division of the Libra Group, and Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) have agreed to establish and operate a joint venture helicopter leasing business. The vehicle has launched with the initial acquisition of 19 next-generation helicopters with a value of US$230 million. SMFL and LCI

Volaris shareholders authorize capital increase