TrueNoord has closed a new revolving warehouse finance facility of US$400 million which will be seeded with 17 aircraft already owned by TrueNoord and which can be extended further by an accordion feature. The facility will be used by the specialist regional aircraft lessor to finance business development and expand its portfolio of 50-150-seat aircraft
Rolls-Royce has completed the sale of ITP Aero to a consortium of investors led by Bain Capital Private Equity, at an enterprise value of approximately €1.8 billion. The completion of the transaction, which was announced on September 27, 2021, follows the announcement on August 3, 2022, of approval of the transaction from the Spanish government.
Embraer S.A. (Embraer) has signed a memorandum of understanding with an affiliate of Apollo, on behalf of its clients and managed funds, with respect to a US$1.5 billion (£1.3 billion) customer financing programme for Embraer’s regional aircraft. Apollo, working alongside Embraer, will offer a comprehensive range of innovative and bespoke solutions across the spectrum of
The Economic Stabilization Fund of the Federal Republic of Germany (WSF) has released that all the remaining shares of its holding in Deutsche Lufthansa AG has been sold to various investors via an accelerated book building process. The WSF last held around 6.2% of the company’s share capital (74.4 million shares). The WSF had acquired
Parker-Hannifin Corporation, a global leader in motion and control technologies, has completed its acquisition of Meggitt PLC for approximately £6.3 billion. Meggitt, headquartered in Coventry, UK, had annual revenue of approximately £1.63 billion for the 12-months ending June 30, 2022 and employs more than 9,000 team members serving customers around the world. Meggitt has diverse aerospace and defence
Scandinavian Airlines (SAS), the flag-carrying airline of Norway, Denmark and Sweden, has successfully obtained U.S. court approval of its proposed US$700 million (£603 million) debtor-in-possession (DIP) financing credit agreement. DIP financing is a specific form of financing used when a business has filed for Chapter 11 bankruptcy protection in a U.S. court and is also
International high-technology group Safran Electrical and Power (Safran) has announced its intention to acquire Thales aeronautical electrical systems business which plays a role in power generation and electric motors in the civil and military aeronautics sector. The intended purchase will include Thales Avionics Electrical Systems and Thales Avionics Electrical Motors companies in France, with sites
Allegiant has reported that it has repaid the US$24.8 million (£21.6 million) emergency relief loan the company received under the Coronavirus Aid, Relief and Economic Security (CARES) Act in April 2020. The government assistance, coupled with proactive initiatives from Allegiant and its employees, allowed the airline to preserve liquidity and strategically position itself to withstand the uncertainty surrounding
China’s three largest carriers, Eastern Airlines, Air China and China Southern Airlines have posted a combined Q2 2022 loss of 28,4 billion yuan, which was even greater than the substantial loss posted for the first quarter. The primary reason for such losses has been the ultra-strict lockdowns imposed as the COVID-19 pandemic lingers on in
Despite ending the financial year strongly, New Zealand flag carrying airline Air New Zealand has reported an operating revenue of NZ$2.7 billion, advising that this figure reflects the considerable extent to which the carrier had been affected by pandemic-related travel restrictions. The carrier posted loss before other significant items and taxation of NZ$725 million for
