DVB Bank Group (DVB), the specialist in international transport finance, reported a consolidated net loss before taxes of €83.8m in the first quarter of 2017 (previous year: net income of €25.9m). This was heavily influenced by a negative net result from financial instruments in accordance with IAS 39 (€-61.3m). Furthermore, reflecting market developments, additional allowance
Aergo Capital has successfully closed a warehouse facility with Investec Bank to finance aircraft transactions. The facility will be used to raise senior debt against on-lease commercial aircraft still to be acquired. Commenting on Aergo’s financing activities, Stan Barnes, Chief Financial Officer of Aergo Capital, said, “We are delighted to diversify Aergo’s funding sources through
Vice Chairman of the Board and Chief Executive Officer of ALAFCO Aviation Lease and Finance Company, Ahmad A. Alzabin, announced that the company recorded a net profit of KD 10.8 million (US$ 35.4m) for the first half of the financial year ending 30th September 2017 – a 78% increase from the same period of the
Norwegian’s leasing platform Arctic Aviation Asset closed a PDP financing for four B787-9 aircraft on May 3, to be delivered in the fourth quarter of 2017 and first quarter of 2018. DVB is the arranger and lender of the PDP financing providing a revolving credit facility. Pillsbury is the legal advisor for DVB and Hogan
Air Canada reported first quarter 2017 EBITDAR, excluding special items, of CA$342m, compared to first quarter 2016 EBITDAR of CA$460m. The airline recorded a first quarter EBITDAR margin of 9.4%, better than the margin projected in Air Canada’s February 17, 2017 news release. On a GAAP basis, Air Canada reported an operating loss of CA$54m
Norwegian has signed an agreement with a new syndicated structure regarding financing of all six 737 MAX 8 aircraft with delivery in 2017. In addition three 737-800s will be financed with sale and leaseback. Norwegian’s subsidiary Arctic Aviation Assets (AAA) has completed financing of six Boeing 737 MAX 8 aircraft with an insurance guaranteed financing
International Airlines Group (IAG) presented Group consolidated results for the three months to March 31, 2017. The Group’s operating profit for the period was €170m, an increase of €15m versus last year, or €47 million at ccy. In 2017, the Group recognised an exceptional charge of €1m related to the continuation of British Airways transformation
Air Lease Corporation (ALC) has reported financial results for the three months ended March 31, 2017. Revenues for the quarter improved 4.9% to US$360.2m. Income before taxes dropped 7.0% to US$133,878m. Net income for the first quarter was down 8.5% to $84,937m compared to the first quarter of 2016. Air Lease Corporation added 11 aircraft
Spirit’s first quarter 2017 revenue was US$1.7bn, up by 1% compared to the same period of 2016, primarily driven by higher production deliveries on the Airbus A350 XWB, partially offset by lower production deliveries on the Boeing 777 program. Spirit’s backlog at the end of the first quarter of 2017 was approximately US$46bn, with work
Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, has acquired a significant minority stake in Axtmann Aviation Holding GmbH, that operates FAI Aviation Group (FAI), a leading global provider of mission-critical aviation services, offering fixed-wing air ambulance, special missions, charter and aircraft management, as well as full MRO services.
