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Global Jet Capital Buying GE Capital's Bizjet Portfolio

Chinese Fund Poised to Enter Bidding War for London City Airport

A secretive Chinese investment fund is understood to be poised to enter the 2 billionn bidding war for London City Airport. Gingko Tree, a division of the Chinese state's foreign exchange regulator, is believed tobe in talks with Australia's Macquarie about teaming up to make an offer for...

Worldwide Flight Services bought by Platinum Equity

Platinum Equity has today completed the acquisition of Worldwide Flight Services (WFS) from LBO France, but no financial details have been disclosed for the acquisition. Platinum Equity head of European investment, Bastian Lueken, says: “We are excited about the prospects for WFS and are wo...

Chinese, German investors set sights on Latvia's Air Baltic

Air Baltic (BT, Riga) has attracted attention from Chinese investors Latvia's State Secretary to the Ministry of Transport, Kaspars Ozoliņš, has disclosed. In an interview with Latvian Radio this week, Ozoliņš described the investors simply as owners of a variety of aircraft manufacturing firms. He added that talks took place last month during the finalization of details for a...

Fitch Affirms Ryanair at 'BBB+'; Outlook Stable

Fitch Ratings has affirmed Ryanair Holdings plc’s (RYA) Long-term Issuer Default Ratings (IDR) and Ryanair Limited’s senior unsecured rating at ‘BBB+’. The Outlook on the IDR is Stable. The unsecured rating covers EUR1.7bn of debt, and it is aligned with RYA’s IDR of ‘BBB+’ despite potential subordination to RYA’s approximately...

DVB Bank and aireg are developing financing options for alternative aviation fuels

DVB Bank SE is strengthening its commitment to sustainability and has joined aireg – Aviation Initiative for Renewable Energy in Germany e.V. As both announced today, DVB Bank, as the leading specialist for international transport financing, will support the climate efforts of the aviation industry in Germany. aireg has been working on the development and market introduc...

Finnair has successfully placed EUR 200 million hybrid bonds

Finnair Plc successfully placed EUR 200 million hybrid bonds on 1 October 2015 (the “New Hybrid Bonds”). The initial coupon rate of the New Hybrid Bonds is fixed at 7.875 per cent per annum, but it will be subject to a coupon reset on each 5th anniversary of the issue date of the New Hybrid Bonds. The New Hybrid Bonds have no specified maturity date, but Finnair may exerci...

Malindo Air to lease six 737-800 aircraft from GECAS

GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, today announced a purchase-and-leaseback transaction with Malindo Airways for six new Boeing 737-800 aircraft. Four of the aircraft have delivered to Malindo Air. The remaining two are scheduled for delivery in October. Malindo Air, headquartered in Malaysia, currently operates a fleet of 24...

CALC Signs Facilities Framework Agreement and Strategic Cooperation Agreement

China Aircraft Leasing Group Holdings Limited (“CALC” or the “Group”, stock code: 01848.HK), the full value-chain aircraft solution provider, reviewed with industry leaders at the 4th China Air Finance Development (DFTP) Summit the support from Dongjiang Management Committee regarding the innovative systems and policies of Dongjiang Free-Trade Port (“DFTP”), sha...

Frontier signs leaseback for 9 A321 aircraft with GECAS

GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing arm of GE, announced it signed a purchase-and-leaseback agreement with Frontier Airlines for nine new Airbus A321 aircraft. Delivery of the first new aircraft is scheduled for October 2015 with the remaining new deliveries scheduled in 2015 and 2016. All nine aircraft are powered by CFM56-5B3 engine...

XTI Aircraft Company Reaches $10 Million in Expressed Global Interest

XTI Aircraft Company Reaches $10 Million in Expressed Global Interest Through Aviation's First Equity Crowdfunding Campaign. Equity crowdfunders from around the world have reserved shares for more than $10 million to support development of the TriFan 600. The TriFan 600 will be the world's first commercially certified vertical takeoff airplane. It will have the speed,...

Cathay Pacific to Spend HK$180 Billion on Fleet Expansion

Cathay Pacific Airways (CX) plans to take delivery of 70 large long-haul aircraft in the next 10 years, Hong Kong media reported. James Tong, Director Corporate Affairs of Cathay Pacific Airways, revealed that with the expansion of the carrier's fleet, they are considering launching more Europe and U.S. services, including Tel Aviv in Israel and Madrid in Spain, correspo...

IFC set to acquire controlling stake in Russia's Red Wings

The board of Russia's United Aircraft Corporation (UAC) has given its leasing subsidary, the Ilyushin Finance Company (IFC), the go-ahead to acquire a 74% stake in local carrier, Red Wings (Russia)(WZ, Moscow Vnukovo). A UAC source told Russia's RIA news agency that IFC management are now set to vote in favour of the purchase. The transaction, which was first announced by IFC&...

Schiphol Group has placed an 11 year EUR 300 million Eurobond

Today Schiphol Group launched and priced a senior unsecured 300 million EUR bond offering due 5 October 2026 and with a coupon of 2.000%. The bond was issued by N.V. Luchthaven Schiphol on behalf of Schiphol Group. Schiphol Group is the owner of Amsterdam Airport Schiphol, with 55 mm passengers the 5th busiest airport in Europe. The bonds will be listed on Euronext Amsterdam and we...

CIT Executive Spotlight Examines Global Aviation Finance Trends

The global airline industry currently has access to an abundance of fragmented capital, but there may not be an equal abundance of market awareness to adapt to potential changes in market conditions. This fragmentation has served the industry well during a period of significant growth and profits; however, due to the cyclical nature of the global airline sector, this lack of market awareness is le...

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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...