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Financial

SAS refinances three A330-300 aircraft

Scandinavian Airlines System (SAS), the Scandinavian flag-carrier has entered into a $125.2m senior secured loan facility covering three A330-300 aircraft (s/n’s 496, 515 and 568) with an East Asia-based Global Insurance Company as sole facility provider. Tranches covering the two Aircraft have been drawn down as the initial ECA-backed loans matured, with the third and

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The Monarch Group reports 2012 performance

The Monarch Group, a UK leading independent travel group, announced an update on its financial and operating performance for the financial year ending 31 October 2012. The Monarch Group, which comprises Monarch Airlines, the tour operating and holidays companies Cosmos Holidays, Avro and somewhere2stay, and Monarch Aircraft Engineering, increased its turnover net of intra-Group sales

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US Airways announces pricing of $546million aircraft financing

US Airways reported that it priced an offering of two classes of enhanced equipment trust certificates in the aggregate face amount of approximately $546m. The Company intends to use the proceeds from the offering to finance its purchase of eleven Airbus aircraft scheduled to be delivered from May 2013 to October 2013 and to use

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ST Aerospace injects capital into its engine leasing joint venture

ST Aerospace released that it has, through its wholly owned subsidiary, ST Aerospace Engines (STA Engines), injected an additional US$1.725m (approximately S$2.1m) into the capital of 50%-owned associated company, Total Engine Asset Management (TEAM). This brings STA Engines’ total share capital contribution in TEAM to US$3.425m (approximately S$4.18m). A joint venture between ST Aerospace and

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ACE Aviation reports third quarter results

ACE Aviation Holdings released third quarter results for 2012. In the third quarter of 2012, ACE recorded an increase in net assets in liquidation of $8m. This increase is primarily due to the increase in the market value of the shares of Air Canada held by ACE as at the end of the third quarter

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Kaman closes on new $500m five-year credit facility

Kaman Corporation has closed on a new five-year $500m credit facility replacing its prior $317.5m credit facility. The facility includes a collateralized security agreement and carries a standard financial covenant package, which the company believes reflects current market terms and conditions. The facility consists of a $400 million revolving credit facility and a term loan

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AviancaTaca Holding S.A earns net profit of US$56.3m

During the third quarter of 2012, AviancaTaca Holding S.A, reported operating income of US$1.1075bn. This is equivalent to an increase of 8.1% with respect to the same period of 2011, removing the non-recurring revenue for expired tickets recorded in the third period of 2011. Operating profit reached US$116.6m. EBITDAR (earnings before interest, tax, depreciation, amortization

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Cargolux confirms ownership change

Cargolux Airlines International confirmed that Qatar Airways intends to exit its 35% shareholding in Cargolux. Albert Wildgen, who joined the Cargolux Board of Directors on September 8th 2011, also announced his decision to step down from his post as Chairman at the next meeting of the Board of Directors on 30 November 2012. Notwithstanding these

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