Category: Top Stories

Avianca CEO Hernan Rincon has announced that the Latin American carrier is looking to renegotiate the US$10 billion 2015 deal it had struck with European plane maker Airbus for 100 A320neos. Commenting on the forthcoming talks with Airbus, Rincon stated that: “Of those 100, we’ll probably receive between 50 and 80 planes,” adding: “We don’t have any doubt that we will keep growing, what has changed is the rhythm of the growth.” Rincon also said that: “The rhythm of technology is changing, it will take a while to get all of the order and we don’t want to have a Read more

Avolon, the international aircraft leasing company, has announced an order for 100 Airbus A320neo family aircraft valued at US$11.5 billion at current list prices. Dómhnal Slattery, Avolon CEO, commented: “Our order for 100 A320neo family aircraft builds on our leading industry position and reflects our ambition to become the global leader in the sector. We are locking in growth well into the next decade and building on our existing order book of exclusively new technology aircraft. The scale of the order reflects the long-term commitment and strategic perspective of our shareholders.” “We continue to see robust demand from our customers Read more

Fly Leasing (FLY) has contracted to sell 12 narrowbody aircraft from its portfolio. The 12 aircraft have a weighted average age of 10.6 years and an average remaining lease term of 3.2 years. FLY anticipates the sales will generate in excess of US$125 million of cash after repaying debt and satisfying other transaction-related expenses. It is expected that the sales will be completed by March 31, 2019. “These sales meet several strategic objectives, particularly reductions in our leverage and our lessee concentrations. We expect to announce more sales over the coming months as we prepare for our growth pipeline of Read more

With the successful acquisition of Rockwell Collins, United Technologies Corp. (United Technologies) has announced its intention to divide up its commercial businesses into three major companies – United Technologies, Carrier and Otis. Carrier will produce HVAC, refrigeration, building automation, fire safety and security products, while Otis will manufacture elevators, escalators and moving walkways. United Technologies will comprise Collins Aerospace Systems and Pratt & Whitney. Collins Aerospace Systems is a new company created through the acquisition of Rockwell Collins which, according to United Technologies “is one of the largest [acquisitions] in aerospace history. It brings together Rockwell Collins and UTC Aerospace Read more