GOL Linhas Aereas Inteligentes S.A., the largest low-cost and low-fare airline in Latin America, has closed a financing of US$68m with Credit Agricole Corporate and Investment Bank (“Ca-Cib”), guaranteeing 12 proprietary spare CFM56-7B engines, with the possibility of increasing an additional US$100m for future proprietary engine deliveries. The financing is over seven years at a
Waypoint Leasing, a leading global helicopter leasing company, has increased the committed borrowing capacity under its five year revolving credit facility from $335m in November 2013 to $468m as of June 30, 2014. The facility bolsters Waypoint’s ability to continue adding attractive and diversified helicopter assets to its fleet, which today includes over 40 aircraft
Triumph Group reported the completion of the previously announced acquisition of the hydraulic actuation business of GE Aviation. The acquired business will operate as Triumph Actuation Systems-Yakima and Triumph Actuation Systems- UK & IOM. The business is expected to add approximately $180m in annual revenue and to be immediately accretive to earnings. The purchase price
Alitalia and Etihad Airways have agreed the principal terms and conditions of a proposed transaction whereby Etihad Airways will acquire a 49% equity stake in Alitalia. The airlines will now move to finalise the transactional documents, that will include the agreed upon conditions, as soon as possible. The conclusion of the investment is subject to
Virgin America reported its financial results for the first quarter of 2014. The airline significantly narrowed its net loss from the same period in 2013 with a 51.8% year-over-year improvement. Virgin America reported total operating revenue of $313.4m, an increase of 4.0% over the first quarter of 2013. First quarter 2014 operating loss of $13.1m
Rolls-Royce committed to a share buyback of £1bn subject to the completion of the sale of its Energy gas turbine and compressor business to Siemens. The sale announced on 6 May this year, is expected to complete by the end of 2014. As no material acquisitions are planned, and reflecting the strength of the balance
Cronus Partners posted, it acted as the exclusive financial advisor to Boreas Holdings, in a refinancing through an extension of credit facilities provided by TD Bank, N.A. Boreas is the parent of multiple affiliated aviation services operating companies. Cronus continues to be a valued financial partner in the growth, enabling to continue the company’s expansion.
Ethiopian Airlines has become the largest African carrier by revenue and profit according to the International Air Transport Association’s (IATA) latest airline ranking – published in the 58th edition of World Air Transport Statistics (WATS). With revenue topping $2.3bn in 2013, this is the first time Ethiopian Airlines has achieved such a ranking in its
Thales announced the closing of the acquisition of LiveTV from JetBlue for $399m. As part of the arrangement, the two companies will form a partnership that focuses on innovation for both passengers and airline operations. The acquisition of LiveTV is part of Thales’s strategy to meet passenger demands by delivering high quality, fast connections while
Element Financial Corporation, one of North America’s leading equipment finance companies, has entered into an agreement with Cargojet, to finance three Boeing 767-300ER freighter aircraft for approximately $100m. The transaction will provide the Canadian supplier of air cargo services with additional capacity to support its growing client base.
