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Brazil approves Qatar Airways’ stake purchase in Chile-based Latam Airlines

Bombardier Reports Third Quarter 2016 Results

Bombardier reported its third quarter 2016 results and highlighted solid performance executing its turnaround plan. “We continue to gain momentum as we execute our turnaround plan and transform our company,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc....

Air BP and BP Ventures announce investment of $30 million in biojet producer, Fulcrum

BP announced the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum BioEnergy, a pioneer in the development and production of low-carbon jet fuel, in which BP will invest $30 million. As an equity investor, BP has secured a 10 year offtake agreemen...

Dubai adds $3billion to airport expansion funding

Dubai is looking to raise US $3 billion to fund expansion of its two international airports and has hired HSBC to advise on raising the finance. The Department of Finance, Government of Dubai, says HSBC will advise it, the Investment Corporation of Dubai and Dubai Aviation City Corporation on raising funds through various sources, including Islamic financing. The emirate wants to boost annu...

Surf Air shops for planes to expand into Europe

Surf Air, the Santa Monica-based company that charges a monthly fee for all-you-can-fly services, is shopping for planes to expand its business to Europe. Surf Air executives said they are negotiating with Kansas-based Textron Aviation, which builds Cessna planes, and Brazilian airplane manufacturer Embraer, to purchase a fleet of executive jets for the new venture. A Brazilia...

Fitch upgrades Russian Helicopters to 'BB+'

On October 26, 2016, Fitch Ratings upgraded Russian Helicopters JSC's (RH) Long-Term Issuer Default Rating (IDR) to 'BB+' from 'BB' and affirmed the Short-Term IDR at 'B'. The Outlook on the Long-Term IDR is Stable, the rating agency informed. The upgrade reflects Fitch's views that the recent improvement in the company's funds from operations (FFO), whilst e...

SilverArrow Acquires Majority Share of PrivatAir in Switzerland

SilverArrow Capital Group announced that it has acquired the majority share (51%) of PrivatAir, SA. PrivatAir is an international premium airline and leading business aviation group with headquarter in Geneva, Switzerland and operating offices in Duesseldorf, Germany and Lisbon, Portugal. PrivatAir operates a wide-range of aircrafts ranging from Boeing B767, B757, BBJs to Airbus A319 and busine...

Boeing Reports Third-Quarter Results and Raises Full Year Guidance

Boeing has reported profit that beat analysts’ expectations as the plane maker benefited from one-time tax gains and moderating production costs for the 787 Dreamliner. Third-quarter earnings were US$3.51 a share excluding a one-time accounting charge and some pension expenses, the Chicago company said. That was more than the $2.67 average of analysts’ estimates compiled by Bloomb...

MTU Aero Engines slightly raises earnings forecast following nine-month results

In the first nine months of 2016, MTU Aero Engines AG saw its revenues increase by 4% to €3,401.3 million (1-9/2015: €3,257.0 million). The group’s operating profit increased by 18% to €393.8 million (1-9/2015: €333.1 million), improving the EBIT margin from 10.2% to 11.6%. Earnings after tax increased by 18% to €273.4 million (1-9/2015: €231...

Rockwell Collins buys B/E Aerospace for $62 per share

Aircraft component maker Rockwell Collins Inc has struck a deal to buy aircraft interior maker B/E Aerospace Inc for $62 per share in cash and stock, the companies said on Sunday. The acquisition, valued at $6.4 billion plus the assumption of $1.9 billion in debt, expands the range of products Rockwell Collins supplies to major commercial and business aircraft and broadens its customer bas...

Boeing Provides More than US$3 Billion Annual Economic Benefit in Canada

Boeing contributes more than US$3 billion annually to Canada’s economic growth and development, according to a study commissioned by the company. Through its operations in Winnipeg and elsewhere, along with direct and indirect economic effects, Boeing supports more than 17,000 jobs across Canada according to the study done by Doyletech Corporation. The analysis also found that Boeing...

Aircraft leasing firm’s $10bn deal to create world’s third-largest rental fleet

China’s HNA Group, controlled by the billionaire Chen Feng, has agreed to buy the aircraft-leasing business of CIT Group for US$10 billion in a deal that would create the world’s third-largest rental fleet. HNA’s Avolon Holdings will expand its line-up to 910 aircraft valued at more than $43bn, including planes on order, the company said. The acquisition is scheduled to close...

Air Canada Completes C$1.25 Billion Refinancing

Air Canada announced that it has completed its previously announced private offering of C$200 million of 4.75% senior secured first lien notes due 2023 (the “2016 Senior Notes”) and the closing of its previously announced U.S.$1.1 billion new senior secured credit facility, comprised of a U.S.$800 million term loan maturing in 2023, together with a new, undrawn U.S.$300 millionrevolving credit fac...

Air China builds bridge with BOC Aviation in jet sale and lease deal

The aircraft lessor BOC Aviation said on Monday it would buy five new planes from Air China, worth a combined US$1.5 billion at list prices, and would lease them back to the carrier. Asia’s second-biggest aircraft lessor, with a fleet of more than 260 planes, said it would buy three new Boeing B777-300ERs and two new Airbus A330-300 aircraft. The company expects to take delivery of the...

Air Canada Announces Pricing of C$1.25 Billion Refinancing

Air Canada announced that it has priced a private offering of senior secured notes and received commitments from lenders for a new credit facility in connection with its C$1.25 billion refinancing transaction. As part of its refinancing transaction, Air Canada entered into a purchase agreement with a syndicate of initial purchasers relating to a private offering of C$200 million aggregate princ...

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Essential news

Avolon places landmark order for 110 Airbus A320neo and A330neo aircraft

Avolon, one of the world’s leading aviation finance companies, has reinforced its long-term growth strategy with a firm order for 110 Airbus aircraft, including 35 A330-900 widebodies and 75 A32...

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airBaltic files first monthly operating reports with U.S. court and publishes preliminary unaudited financial information

Air Baltic Corporation AS , Latvia’s national airline and the leading carrier in the Baltic States, announced that airBaltic and its subsidiaries participating in the voluntary Ch...