Royal Jordanian Airlines completed the closing of its first B787-8 commercial debt financing on November 15, 2016. This new delivery is the sixth B787 in the RJ fleet. DVB AFC, the aviation advisory division of DVB Bank, advised Royal Jordanian on the long term financing of the aircraft. Founded in 1963, Royal Jordanian is the
Rolls-Royce confirmed the valuation of €720m for the 53.1% shareholding in Industria de Turbo Propulsores SA (ITP) currently owned by SENER Grupo de Ingeniería SA. This follows completion of due diligence, subsequent to the announcement in July 2016, that Rolls-Royce will purchase the outstanding stake. Under the agreement, consideration will be settled over a two-year
China’s largest online travel company, Ctrip, is looking to expand its reach beyond its home market by agreeing to buy Scotland-based Skyscanner, the air-ticketing specialist, for an agreed £1.4 billion. Back in January the Scottish startup had been valued at £1.0 billion after a round of financing. Skyscanner was founded 13 years ago, and currently
El Al reported that revenues in the third quarter of 2016 amounted to approx. US$644m, compared to approx. US$647m in the third quarter of the previous year. Gross profit in the third quarter of 2016 amounted to US$173m, compared to approx. US$ 209m in the third quarter of the previous year. Profit before tax in
L-3 Communications reported the acquisition of MacDonald Humfrey (Automation) located in Luton, U.K. The acquisition was completed November 23, for a purchase price of approximately £224m (approximately US$280m). The purchase price is subject to an upward adjustment of up to £30m (approximately US$37.5m), based on MacDonald Humfrey’s post-acquisition performance for years ending December 31, 2017
AerCap Holdings has completed the closing of a new US$0.6bn secured credit facility. The facility will primarily be used to acquire new narrowbody and widebody aircraft as they deliver from Boeing and Airbus through 2017. The facility was signed to finance a portfolio of eight aircraft and matures in 2024. The total amount of financing
Dutch private equity firm Antea acquired a 30% stake in Aircraft Part-Out Company Europe B.V. (APOC Aviation). APOC Aviation is located in Delft, The Netherlands. It is engaged in the supply of spare parts for the aircraft industry. The company purchases aircrafts that have been taken out-of-service, outsources the disassembly and then sells the parts.
British Airways has announced plans to invest US$110m in its US airport facilities. The investment includes over US$65m investment in JFK’s Terminal 7 to improve the customer journey at check in, security and boarding gates as well as a refurbishment of its First and Business class lounges. The British Airways lounges in Boston, San Francisco,
FLY is reporting net income of US$22.9m for the third quarter of 2016. This compares to a restated net income of US$27.5m for the same period in 2015. Net income for the nine months ended September 30, 2016 was US$34.7m. The restated net income was US$3.7m for the same period in 2015. Adjusted net income
Republic Airways Holdings has filed its Plan of Reorganization (the “Plan”) and a related Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York. The Plan sets a course for the Company to emerge during the first quarter of 2017, and was filed with the full support of the Creditors Committee.
