Avolon, the international aircraft leasing company, has announced the re-pricing and partial repayment of its US$500m Term Loan B-1 (TLB-1) facility. The TLB-1 facility, with a September 2020 maturity, was originally priced in March 2017 at LIBOR plus 2.25% with a LIBOR floor of 0%. The facility has now been repriced at LIBOR plus 1.75%
Morten Beyer & Agnew (“mba”) was retained by Aergen Aviation Finance Limited to provide Aircraft Appraisals, Maintenance Cash Flow Modeling, and Commercial Industry Analysis for debt issued by Harbour Aircraft Investments Limited (HAIL 2017). The Asset Backed Securitization (“ABS”) portfolio consists of thirty (30) aircraft currently on lease to eighteen (18) lessees spanning sixteen (16)
GE Additive has acquired GeonX, a privately-owned developer of simulation software. Terms of the deal are not being disclosed. Headquartered in Belgium, GeonX provides software for engineers when developing new products, to simulate additive manufacturing, welding, machining and heat treatment processes in various industries such as aerospace, automotive and energy. GeonX’s simulation software tool, Virfac®
After filing for Chapter 11 bankruptcy protection last month, as of November 11, Hawaii’s Island Air has ceased all operations. Following last Friday’s flights, all airplanes were grounded and any passengers who had booked flights from November onwards were advised to make alternative arrangements. Island Air was responsible for operating over 400 flights per week
This October, the online aircraft spare parts and repair capabilities marketplace Locatory.com has announced hitting record highs and increasing the company’s sales by 20%. Moreover, the company has managed to achieve such results with half the sales force of 2016. Having analysed its quarterly results, Locatory.com management team concluded that the last trimester has been
Finnair has raised its guidance for its 2017 comparable operating result as passenger and cargo traffic sales have developed better than forecasted. Finnair has also specified its revenue forecast for 2017. Finnair estimates that in 2017 its capacity will grow approximately 9%, while full-year revenue is expected to grow slightly faster than capacity. Finnair expects
West Star Aviation has acquired MSP Aero, a Minneapolis-based company working with avionics, interiors, minor paint and window restoration at KMSP and surrounding areas. Founded in June of 2009, MSP Aero was created to provide uninterrupted avionics services to area flight departments and received their FAA Part 145 Certified Repair Station certificate by December 2009.
AeroCentury an independent aircraft leasing company, has reported third quarter 2017 earnings of US$385,000 compared to US$356,000 in the second quarter of 2017 and compared to US$530,000 in the third quarter of 2016. In the first nine months of 2017, net income grew 10% to approximately US$1.4m from approximately US$1.3m in the first nine months of
The Finnish Competition and Consumer Authority has approved the transaction in which Finnair acquires 60% of the shares in Nordic Regional Airlines AB from StaffPoint Holding Oy and Kilco Oy. The transaction is expected to close in November 2017, and thereby Norra will transfer to Finnair’s full ownership on an interim basis. Finnair aims to
Boeing has completed the acquisition of Aurora Flight Sciences, a world-class innovator, developer and manufacturer of advanced aerospace platforms and autonomous systems. Aurora will operate under Boeing Engineering, Test & Technology as a subsidiary called Aurora Flight Sciences, A Boeing Company. It will retain an independent operating model while benefiting from Boeing’s resources and position
