The ITP Group achieved sales of over EUR 483 million in 2008, which represents a 15% increase on the same figure for the previous year, in accordance with the IFRS (International Financial Reporting Standards) accounting model. The Group
Air Canada said that it has concluded a secured revolving loan agreement with Aeroplan Canada which will provide the airline with up to CAD $100 million and assist with its liquidity requirements. Subject to the terms of the agreement, amounts are available for drawdown until June 30, 2010 and are equal to the aggregate of
United Air Lines announced the pricing of its offering of $175 million in aggregate principal amount of senior secured notes due 2012. The notes were issued at a discount to their face value, and will carry a coupon interest rate of 12.75% per annum. The notes will be secured initially by a lien on all
Pratt & Whitney Power Systems has agreed to purchase a majority interest in Turboden S.r.l. (Turboden), an Italian manufacturer of high efficiency turbogenerator systems. Terms of the transaction were not disclosed.
Frontier Airlines Holdings reported a net profit of $1.1 million for the month of May and its seventh consecutive monthly operating profit. Frontier reported a consolidated operating profit of $11.7 million for the month of May 2009, compared to an operating loss of $16.5 million for the same period in 2008, and a total consolidated
Republic Airways Holdings is acquiring Milwaukee-based Midwest Airlines from TPG Capital, a Fort Worth, Texas-based private equity firm. The transaction is subject to customary regulatory approvals and is expected to close in four to six weeks. Republic will acquire 100% of the equity of Midwest and TPG
Frontier Airlines Holdings has entered into an investment agreement with Republic Airways Holdings, by which Republic will serve as equity sponsor for Frontier’s plan of reorganization and purchase 100% of the equity in the reorganized company for $108.75 million. The plan sponsorship agreement is subject to bankruptcy court approval and various conditions. If the plan
Sir Michael Bishop and Deutsche Lufthansa AG have reached an out-of-court settlement of their dispute over the satisfaction of the conditions precedent in relation to a put option over the 50% plus 1 share in British Midland PLC (bmi). Under the terms of the compromise settlement, Sir Michael Bishop agrees that specific performance of the
Abu Dhabi-based investment holding company Waha Capital PJSC has agreed to acquire a 50% stake in AerVenture Limited. The remaining fifty percent will be held by AerVenture’s current parent company AerCap. The parties have committed to a combined total equity investment in AerVenture of $270 million. The joint venture agreement was signed in Abu Dhabi,
Airbus signed a Memorandum of Understanding with the Industrial and Commercial Bank of China (ICBC), one of China’s leading banks, on cooperation in aircraft financing and leasing. Airbus and ICBC endeavour to share competence and experience to cooperate on aircraft financing and management activities, including structuring of operating and finance lease transactions as well as
