Financial

Lufthansa Cargo achieved an operating profit of €100m last year. This represents a significant increase for the cargo airline when compared with the previous year (€79m). Speaking in Frankfurt, Chairman of the Executive Board and CEO Peter Gerber presented a result for the year that stood out from the competition and was achieved in a […]

Nordic Aviation Capital A/S (NAC) has increased the Debt facility it signed in January 2015 to US$400m. The company will use the proceeds to part finance the acquisition of turboprop and regional jet aircraft, which will then be leased to airline partners around the world. The US$400m facility was led by Deutsche Bank as sole

PK AirFinance, a GECAS Company, closed two separate senior debt facilities with Republic Airways. PK AirFinance arranged US$81m in secured debt financing for Embraer 170LR aircraft in Republic’s fleet, holding the US$66m senior loan and a junior lender holding the US$15m tranche on the five-and-a-half year package. Separately in late 2014, PK AirFinance closed a five-year, US$30m

In fiscal year 2014, the Hamburg-based Lufthansa Technik Group achieved a result just under last year’s record level, with increased revenue of €4.3m. The annual accounts of the 22 consolidated Lufthansa Technik Group companies show an operating result of €392m. Currently Lufthansa Technik looks after 800 customers and a total of 3,200 aircraft. In 2014,

Burnham Sterling Securities, an investment bank specializing in transportation asset finance, has acted as lead arranger and sole book runner in a privately placed transaction for Avianca, Colombia’s national airline, covering two A320 family and one Boeing 787 aircraft. The transaction, which utilized an Enhanced Aviation Investment Vehicle private EETC Structure (“EAIV”), developed by Burnham

BOC Aviation has converted its US$5bn Euro Medium Term Note Program to a US$5bn Global Medium Term Note Program (“GMTN Program”), pursuant to which BOC Aviation may issue Notes in the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-US persons in

Air Seychelles, the national carrier of the Republic of Seychelles, reported a third consecutive year of profitability after recording a net profit of US$3.2m for 2014. The result exceeds last year’s profit of US$3m and reflects continued improvement in the airline’s key performance indicators, following Etihad Airways’ acquisition of a 40% share in 2012 and

Deutsche Lufthansa AG achieved its operating-result objective for 2014. The €954m operating profit reported for the year was a €255m or 37% improvement on the prior-year result. Following a revision of its original projections owing to negative yield trends and the extraordinary impact of strike action, the company had projected an operating profit for the

Chorus Aviation has entered into an agreement to acquire all of the issued and outstanding shares of 519222 Ontario Limited, a holding company that owns Voyageur Airways and its related companies (‘Voyageur’), a leading provider of specialized aviation services with international operations. Voyageur, a Transport Canada approved air operator, is an integrated provider of specialized