The National Bank of Abu Dhabi (NBAD) and aircraft manufacturer Boeing have signed an agreement to develop aircraft financing and leasing opportunities of mutual benefit in the Middle East market. The memorandum of understanding effective immediately represents a landmark collaborative effort aimed at increasing investment opportunities for financial institutions in the UAE and the broader
Air Lease Corporation announced the closing of its previously announced offering of an additional $50m aggregate principal amount of 4.50% senior unsecured notes due 2016 (the “Additional Notes”). The Additional Notes were sold at par plus accrued interest from September 26, 2012 in response to market demand following the Company’s completion of its offering of
Triumph Group reported that net sales for the first quarter of fiscal year ending March 31, 2013, totaled $887.7m, a 5% increase from last year’s first quarter net sales of $845.1m. Organic sales growth for the quarter was 5%. Income from continuing operations for the first quarter of fiscal year 2013 was $76.3m, versus $50.9m
Avcorp Industries announced that it has entered into a loan agreement with Royal Bank of Canada (“RBC”) for a $12m principal amount secured debt facility (the “Debt Facility”). The Debt Facility has a three-year term and bears interest at a rate equal to RBC’s prime rate plus 0.5%. The Debt Facility is secured by a
Air Lease Corporation reported the closing of its previously announced offering of $450m aggregate principal amount of 4.50% senior unsecured notes due 2016 (the “Notes”). Due to market demand, the offering was upsized to $450m from a previously announced offering size of $300m. The Notes will mature on January 15, 2016 and will bear interest
Alaska Air Group (ALK) announced that its board of directors has approved a stock repurchase program authorizing the company to buy up to $250m of its common stock. The program does not have an expiration date, however, Air Group is targeting completion by Dec. 31, 2014. The company also announced that it will complete its
Virgin America reported its financial results for the second quarter of 2012. Total operating revenue for the second quarter grew by 29% to $347m on a capacity increase of 32%. The Company narrowed its operating loss to $4m for the second quarter, and improved earnings before interest, depreciation and amortization, and aircraft rental expense (EBITDAR)
Air Lease Corporation reported that it intends to offer an aggregate of $300m principal amount of senior unsecured notes due 2016, in an offering exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The Notes will be offered only to qualified institutional buyers and non-U.S. persons outside of the United
BOC Aviation has established a US$2bn Euro Medium Term Note programme (EMTN Programme) that will be listed on the Singapore Exchange Securities Trading Limited (SGX-ST). Admission to the official list of the SGX-ST and quotation of any notes on the SGX-ST is not to be taken as an indication of the merits of BOC Aviation,
TransDigm Group Incorporated has completed the acquisition of Aero-Instruments Co., for approximately $35m in cash. Aero, located in Cleveland, Ohio, employs approximately 60 people and has been a supplier of proprietary, highly engineered components to the aerospace industry since 1925. Aero designs and manufactures highly engineered air data sensors including pitot probes, pitot-static probes, static
