GECAS and Oz Management have announced the closing of STARR 2018-1. Operating as START Ltd., this closing marks the first aircraft portfolio purchase vehicle structure to include a dedicated Asset Manager for equity investors. In this transaction GECAS is selling a portfolio of aircraft to Start Ltd, which is financing its acquisition through issuance of
TUI successfully issued a certificate of indebtedness with tenors of five, seven and ten years including fixed and floating rate tranches. The average tenor of the transaction amounts to 6.4 years. Due to very strong investor demand the initially announced volume of €200 million was significantly oversubscribed and TUI decided to upsize the deal to
PPG has begun preliminary windshield design work for the Antonov AN-132 multipurpose transport plane, following the execution of a memorandum of understanding. “PPG looks forward to working with Antonov to complete the windshield design for the AN-132 aircraft using innovative technology that offers reliable performance,” said Brent Wright, PPG global director, aerospace transparencies. “This is
The Public Sector Pension Investment Board (PSP Investments) and ATL Partners (ATL) have announced that their jointly owned portfolio company, Sky Aviation Leasing International (SKY Leasing), has entered into a definitive agreement to sell Sky Aviation Leasing International (SALI), an Irish subsidiary of SKY Leasing, to Goshawk Aviation (Goshawk), an aircraft leasing company owned by
Bombardier will reinforce its partnership with the Downsview Aerospace Innovation and Research Consortium (DAIR) to establish an aerospace hub in Toronto’s Downsview area. Through a multi-million dollar contribution, Bombardier will focus on three main goals: supporting DAIR’s academic and research activities, supporting DAIR’s operations, and preserving the aerospace heritage of the site. Starting this year,
American Airlines Group (American), one of four U.S. carriers subject to an antitrust lawsuit over collusion to limit plane capacity and in so doing, driving up domestic airfares, has agreed to pay US$45 million to draw matters to a close. The carrier has admitted no wrongdoing and American’s spokesman Matt Miller advised that the carrier
At the British-Irish Airports Expo in London, London Gatwick Airport’s Chief Executive, Stewart Wingate, announced a new five-year Capital Investment Plan (CIP) for Gatwick Airport which will see an investment of £1.1bn over a five-year period, with £266m already earmarked for 2018/2019 alone. Gatwick sees continued growth in the long-haul market, predicting passenger numbers increasing
Etihad Airways said that it improved its core operating performance by 22% in 2017, despite facing challenges including significant fuel cost increases, the entry into administration of its equity partners Alitalia and airberlin, and initial investment in a comprehensive business transformation programme. The airline increased revenues from core operations by 1.9% to US$6.1 billion (2016:
U.S. Department of Transportation Secretary Elaine L. Chao has announced the Federal Aviation Administration (FAA) will award US$677 million in airport infrastructure grants, the first allotment of the total US$3.2 billion in Airport Improvement Program (AIP) funding for airports across the United States. The 241 grants will fund 346 infrastructure projects that include runways, taxiways,
Having received all required regulatory approvals, Airbus SE, Bombardier and Investissement Québec (IQ) have agreed to close the C Series transaction effective on July 1, 2018. The transaction by which Airbus will acquire a majority stake in the C Series Aircraft Limited Partnership (CSALP) was initially announced in October 2017. The Mirabel-based partnership, which was
