Finnair has unveiled its plans to convene an Extraordinary General Meeting (EGM) with the purpose of seeking authorisation from its shareholders for a significant share issuance (the offering). This capital raising initiative aims to generate gross proceeds of up to €600 million and will include pre-emptive subscription rights for the company’s existing shareholders. The successful
After raising €1 million in 2016, Donecle has completed a second funding round of €5.6 million. The majority of this funding has been provided by two new investors, both world-renowned players in the aerospace industry, one of which is AkzoNobel (Netherlands). Founded in 2015, Donecle is a French company specialising in automated inspection by drone.
SAS has achieved a significant milestone in its ongoing Chapter 11 process within the United States. In this pivotal step, SAS has chosen a consortium led by Castlelake, representing certain funds or affiliates, Air France-KLM, Lind Invest and the Danish state (collectively referred to as the investors) as the winning bidder in its exit financing
Veryon, a leading provider of information services and software solutions for the aviation industry, has announced its acquisition of Rusada, a prominent player in the aviation maintenance management software industry since 1987. This strategic move solidifies Veryon’s commitment to innovation while strengthening its position as a trusted aviation management software market leader. Headquartered in Geneva,
SMBC Aviation Capital has announced the successful settlement of insurance claims, resulting in the receipt of approximately US$710 million (£592 million). This settlement pertains to its aircraft that were previously leased to Aeroflot. The funds represent the resolution of insurance claims filed by SMBC Aviation Capital under Aeroflot’s insurance and reinsurance policies, covering a total
Portugal’s flag-carrying airline, TAP Air Portugal (TAP), has now become profitable and, as a consequence, is being put up for sale by the government. The move comes after the stricken carrier was granted a €3.2 billion bailout in the form of a taxpayer-funded restructuring programme. Portugal’s Finance Minister has announced that a minimum 51% stake
In a bold move to address customer concerns and elevate service quality, the Qantas Group is investing an additional AU$80 million into customer improvements for FY24, supplementing the previously allocated AU$150 million. This investment will be funded directly from profits and will tackle various customer ‘pain points.’ Initiatives include bolstering contact centre resources and training,
ZeroAvia has announced a major investment boost that will see the manufacturer of hydrogen-electric propulsion systems move one step closer to obtaining the necessary certification for its first hydrogen-electric engine. This latest round of investment has included Airbus, Barclays Sustainable Impact Capital and NEOM as co-leaders, with Breakthrough Energy Ventures, Horizons Ventures, Alaska Airlines, Ecosystem
Dubai Aerospace Enterprise (DAE) has signed a new multi-tranche financing, structured as a combination of revolving credit facilities and term financing facilities, each comprising of conventional and Islamic tranches with HSBC and J.P. Morgan acting as Joint Bookrunners and Joint Mandated Lead Arrangers. Following significant demand, the transaction was upsized in syndication to more than twice
US carriers like American Airlines and Frontier Airlines, have cut their third-quarter margin forecasts on higher fuel costs, which has negatively affected share prices of other American carriers over concerns in relation to increasing expenses. US carriers have already forewarned of headwinds related to surging fuel costs for this quarter, with oil prices rising due
