Asiana Airlines‘ cargo unit will be sold to South Korean cargo carrier Air Incheon for 470 billion won (US$342 million), Korean Air Lines announced on Wednesday, according to REUTERS news agency. The EU competition regulator in June approved Air Incheon as the preferred bidder to buy Asiana’s cargo business, as a condition of approval for
CDB Aviation has entered into a US$700 million facility agreement secured with a portfolio of Airbus and Boeing narrow-body and wide-body aircraft on lease to various of the lessor’s airline customers. The facility is financed by a group of leading MLA banks, including Natixis, CACIB, BNP Paribas, the Korean Development Bank, the Hongkong and Shanghai
Embraer has signed a US$1 billion syndicated credit agreement for five years. The deal is an extension of a US$650 million syndicated credit operation announced in October 2022. The contract provides the company with important access to financial resources at pre-negotiated rates. Led by PNC Bank, Crédit Agricole, Citibank, and with the participation of institutions
The Fraport global airport company recorded a passenger growth of 7.2%, reaching a total of 74.1 million travellers across its actively managed aviation gateways during the first half of 2024 (ending June 30). Supported by the growing demand for air travel, Group revenue increased by 13.0% year-on-year to €2,038.8 million. Fraport’s operating result, or EBITDA
Spirit AeroSystems Holdings (Spirit) has reported its financial results for the second quarter of 2024. Spirit’s revenue in Q2 2024 increased from the same period in 2023, primarily due to higher production activities on most commercial programmes and increased Defence and Space revenues, partially offset by lower production volume on the Boeing 737 programme. Overall
Willis Lease Finance Corporation (WLFC) has posted record second-quarter total revenues of US$151.1 million and record quarterly pre-tax income of US$57.9 million. The company also announced its first regular quarterly dividend of US$0.25 per share, expected to be paid on August 21, 2024, with a record holder date of August 12, 2024. For the three
Astronics Corporation has reported its financial results for the three- and six-month periods ending June 29, 2024. Consolidated sales rose by US$23.7 million, or 13.6%, with Aerospace sales increasing by US$18.6 million and Test Systems sales by US$5.1 million. The company’s consolidated operating income climbed to US$7.6 million, compared with US$2.4 million in the prior-year
On August 1, British Airways owner IAG terminated its proposed takeover of Spain’s Air Europa, citing regulatory environment concerns, less than two months after it offered remedies to antitrust regulators to secure approval for the deal, Reuters reports. IAG had offered concessions to the European Commission in June after the watchdog warned the deal could
Aircraft lessor Azorra has reported the closing of a US$988 million debt financing facility, including a US$750 million revolving credit facility (RCF) and a US$238 million recourse debt financing. Overwhelming investor demand led to a significant oversubscription of the financing, prompting a Day 1 increase of the RCF from US$500 million to US$750 million through
Brussels Airlines has reported an adjusted EBIT of €11.6 million for the second quarter of 2024, a decline compared to Q2 2023, primarily due to lower production. The airline has expanded its fleet with an additional Airbus A330 and introduced Nairobi as a new long-haul destination. Despite the weaker quarterly results, Brussels Airlines expects a
