San Miguel Corp. said Wednesday it has signed a deal with billionaire businessman Lucio Tan, that will give the diversifying conglomerate substantial but minority stakes in two Philippine airlines owned by Mr. Tan. San Miguel will invest $500m in exchange for as much as 49% each in Philippine Airlines (PAL) and its low-cost partner Air […]
San Miguel acquires minority stake in Philippines Airlines and Air Phil Read More »
DVB Bank SE (“DVB”) has signed an agreement with the Mitsubishi Corporation, Tokyo, Japan (“MC”) and the Development Bank of Japan, Tokyo, Japan (“DBJ”), pursuant to which MC and DBJ will acquire a 35.0% share and a 25.0% share respectively in TES Holdings Ltd., Bridgend, United Kingdom, from DVB. The agreement is subject to required
DVB welcomes new shareholding partners in TES Holdings Read More »
Pinnacle Airlines Corp. and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York (the “Court”). Pinnacle intends to use the Chapter 11 process to continue implementing a comprehensive turnaround plan aimed at addressing its operational
Pinnacle Airlines files for Chapter 11 Read More »
BOC Aviation’s net profit after tax for the financial year ended 31 December 2011 hit US$201m, 20% higher than the US$168m achieved the previous year. Total assets as at 31 December 2011 were US$7.6bn, up by 14% compared to the prior year while shareholders’ equity rose 15% to US$1.5bn. During the year, the Company focused
BOC Aviation's net profit exceeds US$200m for the first time Read More »
International Lease Finance Corporation (ILFC) announced that on March 23, 2012, ILFC prepaid in full all amounts outstanding under its $750m secured term loan. The loan was secured by 45 aircraft and related equipment and leases, bore interest at LIBOR plus a margin of 4.75% with a LIBOR floor of 2.00%, and was scheduled to
ILFC prepays $750m secured term loan Read More »
Nimrod Capital and Doric Asset Finance announced the successful listing of a further £200m of C shares on the London Stock Exchange. Doric Nimrod Air Two Limited (“DNA2”) aims to pay a quarterly dividend equivalent to 9% per annum (based on the issue price of 200 pence per share) following the purchase and leasing of
Doric Nimrod Air Two issues £200m of shares Read More »
ILFC announced that it intends to raise a new senior secured term loan of $550 million. ILFC plans to use proceeds of the new term loan to refinance the Company’s outstanding $550 million senior secured term loan with essentially the same maturity. The new senior secured term loan would be secured primarily by a first
ILFC announces proposed $550m senior secured term loan Read More »
Private equity provider LDC has completed a significant investment to support the management buyout of Airline Services Ltd. With principal bases in Manchester, Gatwick and London Stansted Airports, Airline Services is a long established, leading provider of aircraft interior and ramp presentation services with expertise in aircraft de-icing, ramp turnaround, cabin maintenance and retrofit services.
LDC completes significant investment into Airline Services Ltd. Read More »
El Al Israel Airlines presented the financial reports for the 2011 financial year and for the fourth quarter of 2011. Revenues for the year totaled $2,043.2m compared to $1,972.2m last year, an increase of about 4%. Revenues from cargo operations increased by about 8%, as a result of the increased freight carried and the revenue
El Al posts net loss of $49.4m in 2011 Read More »
Lufthansa Technik Group, one of the world’s leading providers of technical services for aircraft, ended fiscal 2011 with a slight increase in revenue despite a difficult market. Revenue grew by 1.9% to €4.1bn. In spite of continued pressure on costs, the company’s result fell only slightly below the good result of the previous year. The
Lufthansa Technik Group report revenue increase for 2011 Read More »
