Financial Archives

© Lufthansa and the trade union Ver.di resolved the ongoing pay dispute

Lufthansa and Ver.di resolve pay dispute after successful mediation

March 28, 2024

Following successful mediation, Lufthansa and the trade union Ver.di have reached an agreement on the main features of a collective labour agreement for approximately 25,000 Lufthansa employees, announced in Frankfurt. Details of the agreement to be disclosed this Thursday, March 28, 2024. Ver.di chief negotiator Marvin Reschinsky expressed satisfaction with the arbitration outcome, while Lufthansa’s

SAS AB initiates company reorganisation process in Sweden

March 27, 2024

SAS AB has officially applied for company reorganisation (Sw. företagsrekonstruktion) in Sweden today, March 27, 2024. The commencement of this process is contingent upon approval from the Stockholm District Court. It’s important to note that this application pertains solely to the listed parent company of the SAS Group, SAS AB, and does not extend to

AAR posts third quarter sales of US$567 million, up 9%

March 26, 2024

AAR CORP. has reported third-quarter fiscal year 2024 consolidated sales of US$567.3 million and income from continuing operations of US$14.0 million. For the third quarter of the prior year, the company reported sales of US$521.1 million and income from continuing operations of US$21.8 million. Adjusted diluted earnings per share from continuing operations in the third

Airbus Defence and Space has signed an agreement to acquire INFODAS, German company that provides cybersecurity and IT solutions © Airbus

Airbus Defence and Space to acquire INFODAS

March 25, 2024

Airbus Defence and Space has announced plans to acquire INFODAS, a leading Cologne-based German firm specialising in cybersecurity and IT solutions for the public sector, including defence and critical infrastructures. The agreement, subject to regulatory approvals, is anticipated to be finalised by the close of 2024. This strategic move aligns with Airbus’ commitment to fortify

TrueNoord, has secured a new Term Loan with Deutsche Bank © TrueNoord

TrueNoord secures new Term Loan with Deutsche Bank

March 25, 2024

Specialist regional aircraft lessor, TrueNoord, has finalised a new Term Loan agreement with Deutsche Bank. The financing arrangement is aimed at bolstering TrueNoord’s ongoing business expansion initiatives and fleet enlargement, while also marking the addition of Deutsche Bank as a valued banking partner. Legal counsel Clifford Chance represented TrueNoord, while Milbank acted on behalf of

Travelport and Air Canada have signed a new content distribution agreement

Air Canada finalises US$2.15 billion senior secured credit facilities

March 25, 2024

Air Canada has announced the completion of its US$2.15 billion senior secured credit facilities. These facilities comprise a US$1.175 billion term loan B maturing in 2031 (the Term Loan) and a US$975 million revolving credit facility maturing in 2029 (the Revolving Facility). This collective arrangement forms the “Senior Credit Facilities”. Proceeds from the Term Loan,

SAS’ Chapter 11 Plan approved by court

March 22, 2024

SAS has received approval of its Plan of Reorganisation, known as the “Chapter 11 Plan,” by the U.S. Bankruptcy Court for the Southern District of New York. The effectiveness of this plan is contingent upon various conditions, including regulatory approvals and a reorganisation at the SAS AB level in Sweden. SAS anticipates emerging from Chapter

Willis Lease update on TAR Aerolíneas dispute

March 21, 2024

On January 16, 2024, Willis Lease Finance Corporation (US) issued TAR Aerolíneas (Mexico) with a Notice of Continuing Event of Default, Demand for Payment and Demand to Return for TAR’s failure to pay amounts due under its lease agreement. Nearly two months later, TAR has failed to comply with the Notice, still with overdue payments, and

France steps in to safeguard Atos cybersecurity assets after Airbus pulls deal

March 20, 2024

Following Airbus‘s decision to abandon a deal to acquire Atos’s struggling cybersecurity assets, France has pledged to safeguard the strategic interests of the company. The move comes as Atos faces consecutive setbacks, including failed attempts to raise capital through asset sales, resulting in a sharp decline in its share value. According to REUTERS news agency,

Dubai Aerospace Enterprise secures US$420 million unsecured term loan with CCB

March 20, 2024

Dubai Aerospace Enterprise (DAE) a global aviation services company, has announced the signing of a US$420 million five-year unsecured term loan with China Construction Bank (DIFC Branch) and China Construction Bank (Asia) Corporation Limited (CCB). This financing initiative aims to support DAE’s future financial requirements. Firoz Tarapore, CEO of DAE, expressed his satisfaction with the

Financial

Lufthansa and Ver.di resolve pay dispute after successful mediation

SAS AB initiates company reorganisation process in Sweden

AAR posts third quarter sales of US$567 million, up 9%

Airbus Defence and Space to acquire INFODAS

TrueNoord secures new Term Loan with Deutsche Bank

Air Canada finalises US$2.15 billion senior secured credit facilities

SAS’ Chapter 11 Plan approved by court

Willis Lease update on TAR Aerolíneas dispute

France steps in to safeguard Atos cybersecurity assets after Airbus pulls deal

Dubai Aerospace Enterprise secures US$420 million unsecured term loan with CCB

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