Lossmaking Norwegian Air (Norwegian) has asked its bondholders for an additional two years in which to pay back US$380 million of current debt as part of an attempt to shore up its precarious financial position. In return, as security, lucrative take-off and landing slots at London Gatwick Airport would be pledged. As Europe’s third-largest low-cost
Nordic Aviation Capital DAC (NAC) has announced its financial results for the year ended June 30, 2019. Total revenue increased by 21% to US$890 million and lease revenue increased by 17% to US $748 million. With a Business Performance result of US$162 million, NAC delivered a 15% return on equity. NAC generated cash flow from
On August 28, NR Investments, the Guernsey, Channel Islands investment vehicle, completed its purchase of Komaksavia Airport Invest, the Cyprus-incorporated owner of a 95% shareholding in Moldovan company, Avia Inves, the concession company of Moldova’s Chisinau International airport. This marks a significant next step in the airport’s development under a public-private concession agreement. The culmination
SAS has reported that total revenue ended at SEK13,552 million, representing an increase of over 3% compared with the same quarter last year. The decline in capacity caused by the pilot strike was compensated by increased passenger revenue. Moreover, SAS posted a continued positive trend in the sale of EuroBonus points and ancillary revenue. Net
Apollo Global Management (together with its consolidated subsidiaries, “Apollo”), Athene Holding and GE Capital, the financial services arm of GE, have entered into a definitive agreement for Apollo and Athene to purchase PK AirFinance, an aviation lending business, from GE Capital’s Aviation Services (GECAS) unit. In connection with this transaction, Apollo will acquire the PK
Thomas cook has announced a comprehensive restructuring deal that will save the struggling travel agent and airline operator. China’s Fosun Tourism will acquire a 75% stake in the Group Tour Operator and a 25% stake in the Group Airline, which includes German carrier Condor along with U.K., Spanish and Scandinavian operations, for £450 million. Additionally,
BBAM Limited Partnership (BBAM), alongside its long-term partner Nomura Babcock & Brown Co., (NBB), have closed a Japanese operating lease with call option (JOLCO) transaction with British Airways for an A350-1000. This is the first JOLCO closing in a US$1.12 billion transaction combining senior secured enhanced equipment trust certificates (EETC) and JOLCO equity in relation
Flughafen Zürich has reported a profit of CHF 143.4 million for the first half of 2019. After adjusting the one-off effect for additional provisions for sound insulation measures in 2018, profit rose by CHF 13.1 million (+10.1%). Between January and June 2019, 14.9 million passengers used Zurich Airport as their departure, transfer or destination airport,
With 94.77% of shareholders voting in favour of the sale of Transat to Air Canada at a special meeting, the future of the deal now rests firmly in the hands of regulators. The bid of CA$720 million equates to a figure of CA$17.00 per share for Transat, while the company’s share price dropped 3 percent
Fly Leasing Limited (FLY), a global leader in aircraft leasing, has released its financial results for the second quarter of 2019. FLY is reporting net income of US$54.1 million for the second quarter of 2019, this compares to net income of $24.3 million for the same period in 2018. Adjusted Net Income was US$61.9 million
