Airbus Group N.V. has successfully signed an amended and extended €3bn revolving syndicated credit facility, in a move designed to benefit from the current favourable loan market conditions. The facility, which was amended and restated on October 10th, 2014, has a maturity of five years plus two one-year extension options and carries an opening margin
The Finnair Board of Directors has approved a one-off long-term incentive plan for Finnair pilots. The plan is a part of the savings agreement between Finnair and the Finnish Air Line Pilots’ Association (SLL) that brings Finnair €17m in permanent annual savings. The savings agreement was contingent on the realization of the incentive plan. The
GE Capital Aviation Services (GECAS), the aircraft leasing unit of GE signed an agreement to acquire Milestone Aviation Group, the Dublin-based helicopter lessor, for $1.775 bn. The acquisition is in line with GE Capital’s strategic plan of growing and enhancing value in core areas aligned with GE’s industrial domains including energy, aviation, oil & gas
AWAS has closed its first Private Placement Term Loan. Aviation Finance Company (AFC) acted as Lead Arranger and Sole Book Runner, with CACIB, Goldman Sachs and Wells Fargo as Co-Leads and BNP Paribas as Manager. The proceeds from the transaction were used to repay the existing debt on ten young narrow-body aircraft and for general
easyJet reported revenue per seat at constant currency for the three months to September 30th, 2014 is expected to grow by around 1.5% driven by a strong finish to the summer season. Revenue per seat at constant currency for the six months to 30 September 2014 is expected to grow by around 2%. Cost per
Hawthorne Global Aviation Services (Hawthorne) announced the acquisition of Heartland Aviation at Chippewa Valley Regional Airport (KEAU) in Eau Claire, Wisconsin. Heartland is the fifth Fixed Based Operation (FBO) in Hawthorne’s nationwide network, and its third acquisition in the last six months. The new Hawthorne Eau Claire FBO has a recently-renovated passenger terminal and first
LCI, the aviation leasing division of the Libra Group, has successfully closed a five-year, $325m asset–backed credit facility for its helicopter-leasing arm LCI Helicopters. The facility was substantially over-subscribed resulting in an enlarged provision to meet demand. An option to increase the facility to $425m was also added. The funds will be used to expand
Lufthansa Pension Trust has successfully placed approximately 13.5m shares of Amadeus IT Holding, S.A. by way of an institutional private placement. With the sale of the shares, which represents 3% of the shares in Amadeus IT Holding, S.A., the pension fund raised gross proceeds of €388m. Accordingly, the Lufthansa Pension Trust’s stake in Amadeus will
Esterline Corporation, a leading specialty manufacturer serving primarily aerospace and defense markets, has agreed to acquire the aerospace and defense display businesses of Barco N.V. These operations are recognized globally as best-in-class designers and manufactures of high-technology, harsh-environment displays and visualization solutions, holding well-established positions in Avionics, Defense, Air Traffic Control, and Training and Simulation
AAR reported first quarter fiscal year 2015 consolidated sales of $469.2m and net income of $14.4m. For the first quarter of the prior fiscal year, the Company reported sales of $514.5m and net income of $17.9m. First quarter sales to commercial customers represented 65% of consolidated sales, compared to 58% of consolidated sales in the
