CDB Aviation enters into inaugural sustainability linked loan for US$625 million

December 11, 2023

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing (CDB Leasing), has released that the lessor entered into its inaugural sustainability linked loan (SLL) on December 1, 2023, anchored with a US$625 million (£496 million) syndicated term loan facility. “This innovative facility marks a landmark transaction for the aviation finance space,”

Horizon and MHIRJ will join forces to advance the development of the Cavorite X7

Horizon Aircraft secures investment from Canso Investment Counsel

December 7, 2023

Robinson Aircraft, a hybrid eVTOL aircraft developer (Horizon Aircraft), has announced a strategic investment in the form of a convertible note purchased by certain accounts of Canso Investment Counsel (Canso) and affiliated companies for an aggregate CA$6.7 million. Brandon Robinson, Chief Executive Officer and co-founder of Horizon Aircraft commented, “Canso has a strong history of

IATA anticipates improved profitability for airlines in 2023-2024

December 6, 2023

IATA’s outlook for the airline industry reveals an optimistic trajectory for 2023 and 2024. Projected net profits are US$23.3 billion in 2023 (2.6% margin) and US$25.7 billion in 2024 (2.7% margin), with operating profits expected to surge from US$40.7 billion in 2023 to US$49.3 billion in 2024. In 2024, total revenues are set to reach

Satna iO has secured a majority stake in Zulu Global © Shutterstock

Travelport investors commit US$570 million in new equity financing

December 5, 2023

Travelport Worldwide Limited (Travelport), a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide, has released that a group of its existing equity holders and lenders have agreed to invest US$570 million (£452 million) of new equity financing into the company. The new financing will give the company a

“This combination is an exciting next step in our collective journey to provide a better travel experience for our guests and expand options for West Coast and Hawai‘i travellers,” Ben Minicucci, Alaska Airlines CEO

Alaska Air Group announces US$1.9 billion acquisition of Hawaiian Airlines

December 4, 2023

Alaska Air Group has reached an agreement to acquire its rival, Hawaiian Airlines, in a deal valued at US$1.9 billion. This transaction marks the second proposed airline merger in less than two years and sets the stage for a potential regulatory battle. Under the terms of the agreement, Alaska Air Group will purchase Hawaiian Airlines

Ferrovial sells its 25% stake in Heathrow Airport Holdings

November 30, 2023

Ferrovial, a leading global infrastructure operator, has released that an agreement has been reached for the sale of its entire stake (c.25%) in FGP Topco, parent company of Heathrow Airport Holdings, for £2,368 million. The current book value of Ferrovial’s stake in Heathrow Airport Holdings Ltd. as per Ferrovial’s consolidated accounts is zero. The agreement

European Commission greenlights €833 million state aid to recapitalise SAS

November 30, 2023

The European Commission has granted approval for a €833 million (SEK 9.5 billion) state aid measure for the recapitalisation of Scandinavian Airlines System (SAS), a decision made under the State aid COVID Temporary Framework. Originally notified by Denmark and Sweden in August 2020, the recapitalisation was part of a broader package that involved substantial participation

easyJet posts pre-tax profit of £455 million for FY2023

November 29, 2023

easyJet achieved a record performance during summer 2023, despite high fuel costs and the challenges arising from the external operational environment, thanks to initiatives implemented over the past year and a half. Supported by strong consumer demand, the company’s success is driven by the low-risk expansion at primary airports, significant increases in ancillary revenue, market

L3Harris corporate headquarters in Florida, U.S.

L3Harris sells CAS business for US$800 million

November 28, 2023

L3Harris Technologies has finalised an agreement for the acquisition of its Commercial Aviation Solutions (CAS) business by an affiliate of TJC L.P. (formerly known as The Jordan Company) for US$800 million. The deal comprises a US$700 million cash purchase price and a US$100 million earnout linked to specific 2023 and 2024 financial targets, reflecting a

Swissport and Asyad Holding (ASYAD) join forces

ASYAD acquires 49% stake in Swissport Saudi Arabia

November 27, 2023

Asyad Holding (ASYAD) and Swissport International AG have signed binding transaction agreements to unlock the enormous growth potential of Saudi Arabia’s aviation ground services sector over the coming years. As part of the transaction Swissport International is selling a 49% stake in Swissport Saudi Arabia to ASYAD, a diversified, family-owned Saudi holding group with significant

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