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 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
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
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 (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
Embraer has delivered 75 jets in 4Q23, of which 25 were commercial aircraft, 49 were executive jets (30 light and 19 medium) and one was a military C-390 aircraft. In 2023, the company delivered a total of 181 jets, of which 64 were commercial aircraft, 115 were executive jets (74 light and 41 medium) and
Willis Lease Finance Corporation (WLFC) has posted annual total revenues of US$418.6 million and pre-tax income of US$67.1 million. Lease rent revenue increased by US$50.6 million, or 31.1%, to US$213.1 million in 2023, compared to US$162.6 million in 2022, primarily reflecting an increase in the number of engines acquired and placed on lease, including growth
In the fiscal year ending on December 31, 2023, BOC Aviation‘s (BOC) financial performance demonstrated significant growth and resilience. Total revenues and other income experienced a notable 7% increase year-on-year, reaching US$2.5 billion. A remarkable net profit after tax of US$764 million was achieved, a substantial rise from US$20 million in 2022. Core net profit
CAMP Systems International (CAMP), a unit of Hearst, has agreed to acquire a portfolio of aviation software businesses from Miami-based World Kinect Corporation. The businesses include the Avinode Group, an air charter sourcing platform and World Kinect’s portfolio of aviation software serving fixed-base operator’s (FBO), delivering a range of aeronautical services such as fuelling, hangaring,
Crosslake Group, a private financial firm specialising in investments in privately held aerospace and defence enterprises, has successfully acquired two prominent maintenance, repair and overhaul (MRO) companies based in South Florida. The acquired companies, Continental Aircraft Support, Inc. (Continental) and Magnum Aircraft Repair Services, Inc. (M.A.R.S.), are now integral members of Crosslake’s aftermarket aviation parts
