Norwegian Air Shuttle has signed an agreement for the sale of 100% of its Argentinian subsidiary Norwegian Air Argentina (NAA) to JetSMART Airlines. “We’re taking necessary steps to return to profitability,” said acting CEO Geir Karlsen. JetSMART will assume the NAA operation with immediate effect. To minimize the impact on passengers, JetSMART will continue to
Dubai Aerospace Enterprise (DAE) has reached a significant milestone in the growth of its managed aircraft portfolio, with current aircraft under management plus mandates to source and manage portfolios for third-party investor customers reaching US$3.5 billion. Since announcing the DAE Aircraft Investor Services (AIS) product in January 2018, DAE has grown its managed fleet to
Willis Lease Finance Corporation has reported quarterly pre-tax profit and total revenues of US$31.1 million and US$120.4 million, respectively. The Company’s third quarter 2019 pre-tax results were driven by strong leasing revenues as well as gains associated with the active management of its portfolio. Aggregate lease rent and maintenance reserve revenues were US$88.3 million for
Condor Flugdienst GmbH improved its key figures for the financial year 2018/19 (ending September 30, 2019). The operating profit (EBIT) increased by 32.4% on a year-on-year comparison to €57 million. The number of passengers carried increased by 4.5% to 9.4 million (+6.9%) with increased capacity. Condor achieved a 6.0% increase in revenue to €1.7 billion
Air Lease Corporation has CA$400 million, or US$301 million (based on a Canadian dollar/U.S. dollar exchange rate of C$1.00=U.S.$0.7523, as announced by the U.S. Federal Reserve Board as of November 22, 2019), aggregate principal amount of 2.625% senior unsecured medium-term notes due December 5, 2024 (the Notes). The sale of the Notes is expected to
Lufthansa Group has confirmed the decision of its Executive Board on the sale of the LSG Group’s European business to Gategroup. The sale is part of the new strategy of Lufthansa Group to focus on the airline business. The sale enables the new owner to further develop the catering business. The potential sale is subject
Fly Leasing (FLY) has repriced its US$385 million term loan. The interest rate on the amended loan is LIBOR plus 1.75%, a 0.25% margin reduction. Additionally, the maturity has been extended by more than two years from February 2023 to August 2025. In conjunction with the extension, FLY paid a one-time fee of 0.25% OID
After three years of an aviation industry operating in the red and losses reaching 21.9 billion yuan (US$3.23 billion) according to China Air Transport Association data, Chinese airlines are now looking to add seats to short-and medium-haul routes to Asian destinations rather than loss-making long-haul routes to North America. With over 800 current international routes
AeroCentury, an independent aircraft leasing company, has reported a third-quarter 2019 net loss of US$8.2 million, compared to a net loss of US$4.5 million for the third-quarter of 2018. In the first nine months of 2019, the Company reported a net loss of US$9.6 million, compared to a net loss of US$4.2 million in the
In the third-quarter, Chorus reported adjusted EBITDA of US$92.6 million, an increase of US$5.8 million or 6.7% relative to the third quarter of 2018. The Regional Aircraft Leasing segment’s adjusted EBITDA increased by US$13.2 million related to the growth in aircraft earning leasing revenue. The Regional Aviation Services segment’s adjusted EBITDA decreased US$7.4 million, partially
