Gama Aviation strategically expands Group’s U.S. maintenance operations

January 18, 2021

Gama Aviation, the global business aviation service provider, has announced the strategic acquisition of Jet East Aviation Corporation, (Jet East) from East Coast Aviation, which will significantly expand its existing U.S. aircraft maintenance operations. The acquisition of Jet East has been transacted by the Group’s wholly owned U.S. subsidiary Gama Aviation Engineering (GAEI) for US$7.7

Delta Air Lines posts December quarter- and full full-year 2020 financial results

January 15, 2021

Delta Air Lines has reported financial results for the December quarter and full year 2020 and provided its outlook for the March quarter 2021. Adjusted pre-tax loss of US$2.1 billion excludes nearly US$1 billion of items directly related to the impact of, and in response to, COVID-19, including charges associated with employee pay and

Lufthansa raised €500 million in aircraft financing in second half of 2020

January 8, 2021

Since July 2020, Deutsche Lufthansa AG has raised a total of around €500 million by using aircraft as security in eight financing transactions. This enabled the Group to secure additional funds on top of the €1.6 billion raised via a convertible bond and a corporate bond. The five Airbus A350s and three aircraft from the

Boeing to pay US$2.5 billion settlement over 737 MAX criminal probe

January 8, 2021

Boeing has entered into an agreement with the U.S. Department of Justice (DOJ), which resolves the Department’s investigation into the company relating to the evaluation of the Boeing 737 MAX airplane by the Federal Aviation Administration (FAA). As part of Boeing’s resolution with the DOJ, the Department has agreed to defer prosecution of the company,

Jet Parts Engineering acquires AeroSpares

January 7, 2021

Jet Parts Engineering (JPE), a PMA parts supplier, has announced the acquisition of AeroSpares. AeroSpares was founded in 1993 to provide airlines with alternate means of customer support, and focuses on reducing aircraft and engine direct and indirect costs with FAA-approved replacement parts for a variety of large commercial aircraft. The transaction was overseen by

Aviator has extended its partnership with Ryanair

Ryanair and Wizz Air strip U.K. shareholders of certain rights after Brexit

January 6, 2021

In order to comply with EU regulations for European-operated airlines, both Ryanair and Wizz Air have barred U.K nationals from buying shares in either airline and have both reclassed shares owned by U.K. nationals prior to January 1, 2021 as “restricted shares” where these shareholders “shall not be entitled to attend, speak or vote at

AerCap signed financing transactions for approximately US$8.3 billion in 2020

January 6, 2021

AerCap Holdings N.V. (AerCap) has announced its major business transactions during the full year and fourth quarter of 2020: during the full year 2020, AerCap signed financing transactions for approximately US$8.3 billion. The company signed lease agreements for 97 aircraft, purchased 36 new aircraft, and executed sale transactions for 46 aircraft. During the fourth quarter

Bombardier finalizes acquisition and full ownership of aircraft service center in Berlin

January 5, 2021

Bombardier, the Canadian plane and train maker has announced it has completed the acquisition of all issued and outstanding shares that it did not currently own from Lufthansa Technik AG and ExecuJet Aviation Group AG, for Berlin Service Centre. The company can now establish a wholly owned service center in Berlin which will enable it

British Airways receives commitments for £2.0 billion U.K. Export Finance guaranteed 5-year loan facility

January 5, 2021

International Airlines Group (IAG) announces that British Airways has received commitments for a five-year term-loan Export Development Guarantee Facility of £2.0 billion underwritten by a syndicate of banks, partially guaranteed by U.K. Export Finance (UKEF). British Airways expects to drawdown the facility in January 2021 subject to agreement of final terms with the lenders and

Air Transat shareholders approve takeover offer from Air Canada

December 17, 2020

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

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