Dubai Aerospace Enterprise (DAE) announced that its Board of Directors and Shareholders had authorized an additional US$300 million for bond repurchases to be conducted through open market transactions. To date, DAE has repurchased approximately US$555 million of principal amount of its publicly traded bonds under the previous authorizations of US$600 million. DAE Chief Executive Officer
The International Air Transport Association (IATA) updated its analysis of the financial impact of the novel coronavirus (COVID-19) public health emergency on the global air transport industry. IATA now sees 2020 global revenue losses for the passenger business of between US$63 billion (in a scenario where COVID-19 is contained in current markets with over 100
GKN Aerospace has delivered a strong performance in 2019, with sales up 7% and operating margin up to 10.6% (from 9.9% in 2018), coupled with new contract wins, breakthrough technology developments and more than £50 million invested in key sites. During the year, GKN Aerospace has signed a contract for a large workshare on the
During the fourth quarter 2019, Avianca Holdings successfully concluded its financial reprofiling; deferring a total of approximately US$220 million aircraft operating lease and debt amortization payments and exchanging 88.1% of its US$550 million May 2020 bond. In addition, Avianca drew US$250 million stakeholder financing from United Airlines and Kingsland Holdings as well as an additional
CALC, a full value chain aircraft solutions provider for the global aviation industry, announced that it would be investing in an Indonesian airline operating company, PT TransNusa Aviation Mandiri (TAM), through a subscription agreement with Aviation Synergy, under which the company agreed to indirectly invest and acquire a 35.68% equity interest in TAM for a
Only six months after the collapse of Thomas Cook which left over 150,000 passengers stranded across the globe, the U.K.s Flybe has now gone into liquidation, despite promises six weeks ago from the government to bail out the ailing domestic carrier. Flybe, which employed over 2,000 staff, announced that all further flights had been grounded
Having operated at a loss of US$43.5 million in 2018, the United Arab Emirates’ carrier flydubai has posted a profit of 198.2 million dirhams (US$54 million) for 2019, the reversal in fortune partially helped by a compensation agreement with Boeing over the grounding of the 737 MAX jet in which an interim settlement has been
LCI, the aviation division of the Libra Group, has sealed new partnerships with two leading financial institutions as it continues to grow its fleet. The lessor has just taken delivery of a Leonardo AW169 helicopter with financing arranged from new partner, Investec. The state-of-the-art aircraft is being placed with a leading European provider of B2B
Air New Zealand has reported earnings before other significant items and taxation of NZ$198 million for the six-month period ended December 31, 2019, compared to NZ$217 million in the prior period, reflecting the slower demand growth environment, weakness in the global cargo market and the ongoing unrest in Hong Kong. Earnings before taxation were NZ$139
Rolls-Royce rounded off 2019 on a positive note having overcome most of the problems which had particularly beset its Trent 1000 TEN engine variant which powers the Boeing 787 Dreamliner with durability issues. With the roll-out of fixes progressing and increased confidence in a new engine blade due for production next year, the number of
