TrueNoord, the specialist regional aircraft lessor, has closed a senior secured debt facility of US$ 500 million. The facility will be deployed to refinance part of the existing TrueNoord portfolio of Embraer, Bombardier and ATR aircraft. The remaining part of the debt facility will be used as a warehouse for future business development and fleet
Norwegian (NAS) has released its second quarter earnings for 2018 with a net profit of NOK 300 million, despite the highest growth in the company’s history. Going forward, the growth will slow down and ramp-up costs will decrease, in line with Norwegian’s strategy. The net result was NOK 300 million compared to a loss of
Dubai Aerospace Enterprise (DAE) has announced its second quarter 2018 key strategic and operational highlights for its leasing arm DAE Capital. DAE has delivered the first of five Boeing 737 MAX 8 aircraft to GOL and delivered the first two of five new Boeing 787-9 Dreamliners to Gulf Air. The company announced the sale of
Delta Air Lines has reported financial results for the June quarter 2018. Adjusted pre-tax income for the June quarter 2018 was US$1.6 billion, a US$183 million decrease from the June 2017 quarter, as record revenues partially offset the approximately US$600 million impact of higher fuel prices. Delta’s adjusted operating revenue of US$11.6 billion for the
The Board of Directors and Shareholders of Dubai Aerospace Enterprise (DAE) have approved a bond repurchase program of up to US$300 million. Repurchases will be conducted through transactions in the open market. DAE also announced that pursuant to this approval it had repurchased US$43 million of its bonds maturing in 2024. DAE Managing Director Khalifa
Héroux-Devtek, a leading international manufacturer of aerospace products, has successfully completed the acquisition of all the shares of Beaver Aerospace & Defense and its wholly-owned subsidiary PowerTHRU, from Phillips Service Industries for a purchase price of US$23.5 million including a US$3.5 million balance of sale payable over the next two years and, subject to final
Boeing and Brazil’s Embraer have jointly announced the signing of a Memorandum of Understanding (MoU) for the formation of a strategic aerospace partnership. The proposed joint venture will see Embraer’s commercial aircraft and services business align, strategically, with Boeing’s commercial development, production, marketing and lifecycle services operations. The joint venture will see Boeing hold an
Centerbridge Partners, L.P. and Reservoir Capital Group, L.L.C. have agreed to acquire a minority stake in Amedeo Capital Limited (Amedeo) as part of their continued investment strategy in the aviation industry. Amedeo will acquire the U.S. management subsidiary of Intrepid Aviation Holdings Group (Intrepid) and will make a minority investment in Intrepid as part of
Singapore Technologies Engineering (ST Engineering) has announced the divestment of 25% equity interest in its indirect associates, Airbus Helicopters South East Asia (AHSA) to the joint venture partner, Airbus Helicopters SAS (Airbus Helicopters) of France. The consideration for the 25% stake is €9.125 million (approximately S$14 million) which will be paid wholly in cash. AHSA
The closing of the previously announced C Series transaction between Airbus SAS, a wholly-owned subsidiary of Airbus SE, Bombardier and Investissement Québec came into effect on July 1, 2018. Airbus now owns a 50.01% majority stake in C Series Aircraft Limited Partnership (CSALP), while Bombardier and Investissement Québec (acting as mandatory for the government of
