LATAM Group receives offers for exit financing that exceed US$5 billion each, expects to recover pre-pandemic profitability by 2024

September 13, 2021

LATAM Airlines Group S.A. (including certain of its debtor affiliates in Brazil, Chile, Colombia, Ecuador, the United States, and Peru) has released its five-year business plan along with advances regarding its exit financing process. This milestone marks one of the final stages before the presentation of its plan of reorganization. LATAM forecasts recovering 2019 profitability

Italy’s new ITA clear to take off without Alitalia baggage

September 13, 2021

Rising from the ashes of the now defunct Italian flag-carrying airline Alitalia, Italia Transporto Aero (ITA) has been given the all-clear by EU competition regulators to launch as a new Italian carrier but without having to repay some €900 million in illegal state loans granted to Alitalia. ITA will begin operations with approximately half of

easyJet rejects Wizz Air bid while Hungarian carrier discusses 100-plane deal with Airbus

September 10, 2021

easyJet has announced that it has rejected a bid from Hungarian low-cost carrier Wizz Air. Instead, Europe’s second-largest low-cost carrier behind Ryanair has opted to raise a further US$1.7 billion from shareholders as it looks to bounce back from the effects of the pandemic on the aviation industry. Commenting on the potential all-share deal, easyJet

KKR announces additional US$40 MILLION investment in Jet Edge International

September 10, 2021

KKR has announced its agreement to invest US$40 million in preferred equity in Jet Edge International (Jet Edge), an Ohio-based global leader in full-service private aviation responsible for operating the largest fleet of Challenger and Gulfstream aircraft available for charter in the United States. KKR is making the investment in Jet Edge through its credit

Philippine Airlines to return aircraft and delay deliveries as it files for Chapter 11

September 8, 2021

Flag-carrying Philippine Airlines has filed for Chapter 11 bankruptcy protection in the U.S. and while debt restructuring and financial reorganization take place, the troubled carrier does not see the arrival at a viable solution by the end of this year. Like many carriers worldwide, Philippine Airlines has been badly hit by the effects of the

Goshawk successfully completes first unsecured U.S. Private Placement by an aircraft lessor since onset of COVID-19 pandemic

September 2, 2021

Goshawk, the Dublin-based global aircraft lessor, has entered into an agreement to issue US$202.5 million of new unsecured US Private Placement (USPP) notes. This latest announcement represents Goshawk’s fourth unsecured USPP issuance following previous issuances in 2016, 2017, and 2018 and is highly significant as it makes the company the first aircraft lessor to access

CHC Helicopter completes acquisition of Babcock International’s offshore operations

September 2, 2021

CHC Helicopter Group (CHC) has completed the acquisition of Babcock International’s offshore oil and gas aviation business. The acquisition reinforces CHC’s global position, increases its offshore crew transportation capacity and expands its fleet by around 30 aircraft across the U.K., Denmark, and Australia. Babcock International’s operations in the U.K., Australia, and Denmark will be held

AeroCity Tech Ventures to invest €20 million in aviation start-ups

September 1, 2021

AeroCity, a fast-growing campus of aviation companies in Vilnius, has exciting news for start-ups and business innovators in aviation. A newly established AeroCity Tech Venture fund will help the best aviation technology ideas and companies to take off and establish themselves as a global player in the industry. The AeroCity project being built by the

Norwegian’s second-quarter results positive effected by completed reconstruction process

August 31, 2021

Norwegian has reported its second-quarter results, continued to be impacted by COVID-19 and travel restrictions in all markets. However, following the successful completion of the reconstruction process and the subsequent NOK 6 billion equity raise, the company is now well positioned for future growth and to respond to increased customer demand. Norwegian reported profit before

Air France-KLM Group reports second-quarter net loss of €1,489 million