Avolon, the international aircraft leasing company, posted results for the second quarter of 2015 with net income up 133% to US$56m versus the second quarter in 2014, while adjusted net income was up 83% to US$62m versus the previous year. Avolon reported that it sold three aircraft in the second quarter, with a net book
DVB Bank, a leading international transportation finance specialist, closed refinancing facilities for up to eight aircraft on behalf of global aircraft lessor AWAS. The facilities included five Airbus single and twin aisle aircraft & three single aisle Boeing aircraft covering terms of 3 to 4 years. DVB Bank acted as sole arranger, agent and underwriter
Willie Walsh, International Airlines Group (IAG) CEO, has made it clear he will “not be supporting” the Airports Commission’s proposals for a third runway at Heathrow, as he believes the costs for its creation are “outrageous.” His principal problem with the proposal for a third runway is based on the financial aspect as he cannot
The International Air Transport Association (IATA) criticized the decision by the French Government to allow the operator of Paris-Charles de Gaulle (CDG) and Paris-Orly (ORY) airports to continue increasing airport charges for each year of the 2016-2020 period. The French government’s decision ignores the recommendation of the independent Airport Consultative Commission. The Commission concluded that
HNA Group and PAI Partners SAS (“PAI Partners”), a private equity fund, have signed an acquisition agreement in relation to the acquisition of 100% equity interest in Swissport Group, one of the world’s largest ground services and cargo handling services provider in Zurich. The total transaction value was approximately CHF2.7bn (approximately RMB17.5bn). The acquisition is
FedEx confirmed that the European Commission has initiated a Phase II review in connection with FedEx’s intended public offer to acquire all the issued and outstanding shares of TNT Express N.V. This is the next step in the process where the European Commission conducts an in-depth analysis under the EU Merger Regulation before coming to
Erickson Incorporated (EAC) announced newly designed and certified enhancements for the S-64 Aircrane to improve situational awareness for aircraft pilots. As part of a continuous improvement initiative, the company has installed and certified FAA mandated Automatic Dependent Surveillance-Broadcast (ADS-B) OUT (transmit) systems, which are ADS-B IN (receive) systems combined with state of the art GPS
Long-lasting sanctions against Iran has seen the average age of its commercial aircraft reach twice the industry average at 23 years. As a consequence and with a population of over 80 million, it is estimated that over the next ten years the country will need to purchase 400 commercial aircraft. A senior aviation official was
Transaero Airlines, Russia’s second largest airline, took delivery of its first Airbus A321 aircraft. The aircraft is delivered as part of Transaero’s contract with ICBC Leasing Company. Transaero’s A321, powered by CFM56 engines, features a two-class cabin layout seating 184 passengers (eight in business and 176 in economy). The spacious configuration offers unbeatable passenger comfort in
The national flag carrier Myanmar National Airlines (previously known as Myanma Airways), took delivery of its first ATR 72-600 today. The airline, which currently operates a fleet of three ATR 72-500s, two ATR 72-200s and one ATR 42-300, had booked an order for six ATR 72-600s in 2014, along with options for six additional aircraft,
