TrueNoord, the independent regional aircraft lessor, has secured new investment from existing and new investors. This brings total equity available to nearly US$400 million to expand TrueNoord’s aircraft portfolio and partially refinance the existing fleet as it embarks upon the next phase of growth. It complements a senior secured debt facility of US$500 million which
AeroCentury Corp., an independent aircraft leasing company, has reported a third quarter net loss of US$4.5 million, compared to a net loss of US$81,000 for the second quarter of 2018 and net income of US$0.4 million, for the third quarter of 2017. The results announced are for the period ended September 30, 2018, and therefore,
Turkish Airlines has posted record profit from its main operations of US$1.149 billion, in the first 9 months of 2018, despite increasing fuel prices. Turkish Airlines, increased both passenger and cargo revenues, achieving a total revenue of approximately US$4 billion in the third quarter of the year. Sales revenue in the first nine months increased
Icelandair Group has entered into a share purchase agreement to purchase all shares in the airline WOW air. The acquisition is subject to approval by Icelandair Group‘s shareholders, the approval of the Icelandic competition authorities and a due diligence. As consideration for the shares, the shareholders of WOW air will, subject to conditions, receive a
Avolon, the international aircraft leasing company, has released that ORIX Corporation (ORIX), through its wholly owned subsidiary ORIX Aviation Systems, has completed the acquisition of a 30% stake in Avolon from Bohai Capital for US$2.2 billion, based on a March, 31, 2018 NAV. The addition of ORIX, an investment grade institution, diversifies and strengthens the
Air Canada has reported third quarter 2018 EBITDAR of CA$1.265 billion compared to third quarter 2017 EBITDAR of CA$1.360 billion. Air Canada reported operating income of CA$840 million compared to operating income of $976 million in last year’s quarter. The airline reported third quarter adjusted pre-tax income of CA$793 million compared to adjusted pre-tax income
Air Transport Services Group has reported consolidated financial results for the quarter ended September 30, 2018. Third quarter 2018 (3Q 2018) customer revenues were US$204.9 million based on revenue recognition standards adopted in 2018. 3Q 2017 revenues were US$182.0 million excluding US$72.1 million in revenues from reimbursed expenses. GAAP earnings from continuing operations were US$32.9
GTLK Europe has concluded a US$340 million refinancing debt facility secured by a portfolio of 14 aircraft. The portfolio includes 5x A321-200s, 6x B737-800 and 3x A319s leased to Aeroflot, Globus, Germania and Bulgarian Eagle. PK AirFinance, a GECAS company, was the mandated lead arranger of the transaction and provided the financing together with Credit
Spirit AeroSystems Holdings (Spirit), headquartered in Wichita, Kansas, USA, and one of the world’s largest non-OEM designers and manufacturers of aerostructures for commercial and defense aircraft has released its financial results for the third quarter of 2018. Commenting on the results, the Company President and CEO, Tom Gentile, confirmed that: “A full schedule recovery and
Airbus has reported nine-month (9m) 2018 consolidated financial results and provided updated full-year guidance. “The nine-month results mainly reflect the good performance on the A350 and the aircraft delivery profile. Even though we delivered more aircraft than a year earlier, we still have a lot to do to meet our commitments,” said Airbus Chief Executive
