The future for Iceland’s low-cost carrier WOW Air looks bleak with Icelandair Group scrapping plans to buy out the struggling airline. Icelandair confirmed that conditions for the share purchase were “unlikely” to be filled by the company’s shareholder meeting November 30, 2018. WOW Air first took to the air in 2012 as a no-frills budget
Leonardo has signed a new Term Loan Facility with a pool of domestic and international banks for the purpose of refinancing existing debt. The credit line amounts to €500 million and has a maturity of 5 years. It’s terms include the payment of 110 basis points above 6 months Euribor and the bullet redemption of
AEGEAN Air has announced 2018, 9-month results with consolidated revenue at €939.3 million, 5% higher than 2017. Pre-tax earnings rose 14% to €115.8 million and net earnings after tax were up 13% to €80.9 million. During the 9-month period to September 30, 2018, AEGEAN and its subsidiary Olympic Air, carried 10.8 million passengers, 6% more
Safran’s shareholders were invited to consider mainly the plan to merge Zodiac Aerospace into Safran at a meeting on November 27, 2018. All the resolutions submitted to the shareholders’ vote were approved. Following presentations by Safran of the merger plan and notably the reports of the merger appraisers concluding that the exchange ratio is fair,
Dubai Aerospace Enterprise (DAE) has released 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 US$295 million of principal amount of its publicly traded bonds under the previous authorization of US$300 million. DAE Chief Executive Office
Loftleidir Icelandic, a subsidiary of Icelandair Group, will, together with Icelandic investors, submit a binding offer for a 51% of the shares in Cabo Verde Airlines on Cape Verde. Authorities in Cape Verde and Loftleidir Icelandic have been cooperating for some time. In August 2017, Loftleidir Icelandic signed a management agreement with the Cape Verde
Owing to “the state of insolvency of the company,” Italy’s Piaggio Aerospace has turned to the Italian government with a request to be put into receivership. This comes despite a current firm order for eight P.1HH unmanned aircraft (a variant of the P-180 business aircraft) from the United Arab Emirates with deliveries expected to commence
United Technologies has received the final regulatory approval needed to close its acquisition of its US$30 billion purchase of aircraft parts maker Rockwell Collins. The conclusion of the regulatory review by China’s State Administration for Market Regulation clears the way for United Technologies to proceed with the proposed acquisition announced on September 4, 2017. The
West Star Aviation has announced the acquisition of Flite Components, an FAA/EASA Part 145 Repair Station. Conveniently located minutes away from Dallas Love Field airport, the company supports corporate and commercial aircraft operators, MROs and OEMs worldwide. Flite Components specializes in aerostructure and composite repair in addition to the overhaul and repair of thrust reversers,
Avolon, the international aircraft leasing company, has reported the repayment by Emerald Aviation Finance (Emerald) of the outstanding US$407 million of its Class A-1 Fixed Rate Asset Backed Notes and Class B-1 Fixed Rate Asset Backed Notes (the “Notes”) associated with its aircraft securitisation. Following repayment, the Notes will be de-listed from Euronext Dublin (formerly
