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Fitch: Global Aircraft Leasing Growing on Low Rates, Rising Air Traffic

Aircraft lessors around the world continue to benefit from increased air travel, strong airline profitability, low interest rates and generally accessible funding markets, according to Fitch Ratings’ latest North American FI Chart of the Month and Aircraft Leasing Sector Review report. As the...

Iran urges U.S. to unblock aircraft deals, seeks investors

Iran urged the United States on Sunday to remove remaining obstacles to it buying passenger planes following the lifting of international sanctions and spread out the welcome mat to foreign investors as it seeks to boost its aviation sector. Iran provisionally agreed earlier this year to buy over...

Turtles in space and jetpacks for all a target for Chinese tech pioneer

KuangChi Science, a Chinese technology company hoping to send tourists – and turtles – into space, could soon go on a US$600 million investment spurt. Later this year, it intends to send mice and turtles into near-space, up to 100km above sea level, via a capsule hooked up to balloons. If that works, KuangChi can begin exploring sending humans aloft. Despite having few products o...

XTI Aircraft Company launches Series B financing

XTI Aircraft Company (XTI) today launched the next phase of its funding strategy to bring the TriFan 600 to market. In addition to its ongoing equity crowdfunding campaign, XTI entered into an engagement agreement with the New York investment bank Primary Capital LLC, for XTI's $20 million Series B round. The security being offered to each accredited investor under this financing is a convertib...

Safi Airways operations suspended due to AFN 1.15 billion outstanding debts

The operations of a major airline in Afghanistan, Safi Airways, was suspended due to a large outstanding debt and taxes payable by the airline, the Afghanistan Civil Aviation Authority (ACAA) said Sunday. According to a statement by Afghanistan Civil Aviation Authority (ACAA), the decision to suspend the operations of the airline was taken by the Ministry of Finance of Afghanistan. The state...

Aircraft demand expands in Asia Pacific to lift BOC Aviation profits

BOC Aviation, the aircraft leasing unit of Bank of China, has reported a 24 per cent increase in profit in the first half of the year as growth in travel boosts demand for planes. Net income in the six months through June rose to US$212.2 million, compared with $171.5m a year earlier, the company said in a statement to the Hong Kong stock exchange on Monday. Sales gained about 8 per cent to $57...

China’s Three Biggest Airlines Face $1.3 Billion Currency Losses

China’s three biggest airlines are poised to report losses totaling 8.5 billion yuan ($1.3 billion) from currency swings this year as a weaker yuan proves a drag amid rising traffic and cheaper fuel. The silver lining: The losses are narrowing. Flagship carrier Air China Ltd. may face 3 billion yuan in foreign-exchange losses, while China Southern Airlines Co., Asia’s biggest b...

Ryanair says profit guidance unchanged despite weaker fares

Ryanair does not plan to change its profit guidance despite seeing weaker than expected average fares over the summer months, the airline said on Friday after a briefing for industry analysts. Average fares in the six months to the end of September are likely to have fallen between 8 and 9 percent from a year earlier, worse than the fall of between 6 and 8 percent that was forecast in July...

Business Rescue for SAA – an absurd misdiagnosis

South African Airways (SAA) needs a going concern government guarantee in order to finalise its Annual Financial Statements (AFS). The matter has been brought to the attention of the shareholder representative (National Treasury) and there are extensive, on-going engagements on the matter with the aim of finding a resolution and to provide certainty to all concerned. This does not mean the company...

Taylor English Advises on $8 Billion Deal for Russian Airlines

Taylor English Duma LLP served as outside legal counsel to Russia’s Volga-Dnepr Group on its agreement to acquire 20 Boeing 747‑8F aircraft worth $8 billion. Based in Moscow, Volga-Dnepr Group is a consortium that owns, operates, and manages several cargo airlines. The deal – announced July 12, 2016 at the Farnborough Air Show – is a landmark transaction. It represen...

Fitch: Commercial Aircraft Delivery Outlook Intact Despite Order Slowdown

Fitch Rating’s large commercial aircraft (LCA) delivery outlook for 2016 and 2017 is intact despite some weakness in parts of the widebody aircraft market, delivery deferrals across most regions of the airline industry, and a likely decline in new orders in 2016 compared to 2015. While Fitch is more cautious than at the beginning of the year, the record order backlog combined with other s...

Profit up at Etihad Indian partner Jet

India airline Jet Airways, a member of the Etihad Airways partnership, reported a surge in operating profit in the first quarter of the 2016-17 financial year, but warned intense competition in the air travel market would continue into the second half. The operating profit leapt by 124 per cent to US$33 million in the three months to June end for India’s second-largest carrier, boosted by...

Lufthansa Cargo takes over time:matters Group

Lufthansa Cargo took over complete ownership of the time:matters Group, experts in global sameday delivery and time-critical international spare part logistics. The cargo airline, which spun off time:matters as a subsidiary in 2002, had already held a 49 per cent share. The majority 51 per cent shareholding had been held by financial investor Aheim Capital and time:matters management. Lufthansa Ca...

Ilyushin Finance Co has reduced the number of ordered CS300 from 32 to 20 aircrafts

The leasing company "Ilyushin Finance Co". (IFC) has reduced the number of ordered Bombardier CS300 from 32 to 20 aircrafts. The delivery is expected in late 2018. The parties explain this adjustments differently. According to Bombardier's opinion Russian customers consider new market’s demands, but IFC refers to the Canadian export agency which hasn’t provided cheap f...

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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...