KKR has announced its agreement to invest US$40 million in preferred equity in Jet Edge International (Jet Edge), an Ohio-based global leader in full-service private aviation responsible for operating the largest fleet of Challenger and Gulfstream aircraft available for charter in the United States. KKR is making the investment in Jet Edge through its credit
Flag-carrying Philippine Airlines has filed for Chapter 11 bankruptcy protection in the U.S. and while debt restructuring and financial reorganization take place, the troubled carrier does not see the arrival at a viable solution by the end of this year. Like many carriers worldwide, Philippine Airlines has been badly hit by the effects of the
Goshawk, the Dublin-based global aircraft lessor, has entered into an agreement to issue US$202.5 million of new unsecured US Private Placement (USPP) notes. This latest announcement represents Goshawk’s fourth unsecured USPP issuance following previous issuances in 2016, 2017, and 2018 and is highly significant as it makes the company the first aircraft lessor to access
CHC Helicopter Group (CHC) has completed the acquisition of Babcock International’s offshore oil and gas aviation business. The acquisition reinforces CHC’s global position, increases its offshore crew transportation capacity and expands its fleet by around 30 aircraft across the U.K., Denmark, and Australia. Babcock International’s operations in the U.K., Australia, and Denmark will be held
AeroCity, a fast-growing campus of aviation companies in Vilnius, has exciting news for start-ups and business innovators in aviation. A newly established AeroCity Tech Venture fund will help the best aviation technology ideas and companies to take off and establish themselves as a global player in the industry. The AeroCity project being built by the
Norwegian has reported its second-quarter results, continued to be impacted by COVID-19 and travel restrictions in all markets. However, following the successful completion of the reconstruction process and the subsequent NOK 6 billion equity raise, the company is now well positioned for future growth and to respond to increased customer demand. Norwegian reported profit before
The Air France-KLM Group’s results improved in the second quarter 2021 compared to last year, although the results were still impacted by travel restrictions.The Group reported revenues of €2,750 million, up €1,568 million compared to last year. The operating result was €-752 million, up €801 million compared to last year. The Group reduced its EBITDA
Air New Zealand has announced a loss before other significant items and taxation of NZ$440 million for the 2021 financial year and a net loss of NZ$289 million – its first full 12-month period of operation with COVID-19-related international travel restrictions. Using the same metric, the company reported an NZ$87 million loss for the 2020 financial year.
Storm Aviation Limited (SAL), a global provider of line and base maintenance and aviation training services, has acquired Manchester-based Chevron Technical Services (CTS), and its Prestwick-based subsidiary Chevron Aircraft Maintenance (CAM) providing aerospace solutions to the aircraft maintenance industry. SAL, a subsidiary of FL Technics, which is part of Avia Solutions Group (ASG), will create
The Qantas Group has posted a substantial full-year loss as a result of the COVID crisis. Total revenue loss from COVID reached AU$16 billion as the full-year impact of minimal international travel and multiple waves of domestic border restrictions continued to hit travel demand. The Group’s underlying PBT loss was AU$1.83 billion. The statutory loss
