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Surf Air shops for planes to expand into Europe

Fitch upgrades Russian Helicopters to 'BB+'

On October 26, 2016, Fitch Ratings upgraded Russian Helicopters JSC's (RH) Long-Term Issuer Default Rating (IDR) to 'BB+' from 'BB' and affirmed the Short-Term IDR at 'B'. The Outlook on the Long-Term IDR is Stable, the rating agency informed. The upgrade reflects Fitc...

SilverArrow Acquires Majority Share of PrivatAir in Switzerland

SilverArrow Capital Group announced that it has acquired the majority share (51%) of PrivatAir, SA. PrivatAir is an international premium airline and leading business aviation group with headquarter in Geneva, Switzerland and operating offices in Duesseldorf, Germany and Lisbon, Portugal. PrivatA...

Boeing Reports Third-Quarter Results and Raises Full Year Guidance

Boeing has reported profit that beat analysts’ expectations as the plane maker benefited from one-time tax gains and moderating production costs for the 787 Dreamliner. Third-quarter earnings were US$3.51 a share excluding a one-time accounting charge and some pension expenses, the Chicago company said. That was more than the $2.67 average of analysts’ estimates compiled by Bloomb...

MTU Aero Engines slightly raises earnings forecast following nine-month results

In the first nine months of 2016, MTU Aero Engines AG saw its revenues increase by 4% to €3,401.3 million (1-9/2015: €3,257.0 million). The group’s operating profit increased by 18% to €393.8 million (1-9/2015: €333.1 million), improving the EBIT margin from 10.2% to 11.6%. Earnings after tax increased by 18% to €273.4 million (1-9/2015: €231...

Rockwell Collins buys B/E Aerospace for $62 per share

Aircraft component maker Rockwell Collins Inc has struck a deal to buy aircraft interior maker B/E Aerospace Inc for $62 per share in cash and stock, the companies said on Sunday. The acquisition, valued at $6.4 billion plus the assumption of $1.9 billion in debt, expands the range of products Rockwell Collins supplies to major commercial and business aircraft and broadens its customer bas...

Boeing Provides More than US$3 Billion Annual Economic Benefit in Canada

Boeing contributes more than US$3 billion annually to Canada’s economic growth and development, according to a study commissioned by the company. Through its operations in Winnipeg and elsewhere, along with direct and indirect economic effects, Boeing supports more than 17,000 jobs across Canada according to the study done by Doyletech Corporation. The analysis also found that Boeing...

Aircraft leasing firm’s $10bn deal to create world’s third-largest rental fleet

China’s HNA Group, controlled by the billionaire Chen Feng, has agreed to buy the aircraft-leasing business of CIT Group for US$10 billion in a deal that would create the world’s third-largest rental fleet. HNA’s Avolon Holdings will expand its line-up to 910 aircraft valued at more than $43bn, including planes on order, the company said. The acquisition is scheduled to close...

Air Canada Completes C$1.25 Billion Refinancing

Air Canada announced that it has completed its previously announced private offering of C$200 million of 4.75% senior secured first lien notes due 2023 (the “2016 Senior Notes”) and the closing of its previously announced U.S.$1.1 billion new senior secured credit facility, comprised of a U.S.$800 million term loan maturing in 2023, together with a new, undrawn U.S.$300 millionrevolving credit fac...

Air China builds bridge with BOC Aviation in jet sale and lease deal

The aircraft lessor BOC Aviation said on Monday it would buy five new planes from Air China, worth a combined US$1.5 billion at list prices, and would lease them back to the carrier. Asia’s second-biggest aircraft lessor, with a fleet of more than 260 planes, said it would buy three new Boeing B777-300ERs and two new Airbus A330-300 aircraft. The company expects to take delivery of the...

Air Canada Announces Pricing of C$1.25 Billion Refinancing

Air Canada announced that it has priced a private offering of senior secured notes and received commitments from lenders for a new credit facility in connection with its C$1.25 billion refinancing transaction. As part of its refinancing transaction, Air Canada entered into a purchase agreement with a syndicate of initial purchasers relating to a private offering of C$200 million aggregate princ...

SATCOM DIRECT ACQUIRES AIRCRAFTLOGS, A PROVIDER OF AVIATION DATA MANAGEMENT SOLUTIONS

Global aeronautical communications provider, Satcom Direct (SD), announced it has acquired AircraftLogs (“Stewart-Ratliff Aviation Services, Inc”), a company based in Columbus, OH, that offers the latest technology in aircraft flight scheduling software and tax reporting tools for corporate and private flight departments. With the purchase of AircraftLogs, SD adds scheduling and t...

Fitch: Global Aircraft Leasing Growing on Low Rates, Rising Air Traffic

Aircraft lessors around the world continue to benefit from increased air travel, strong airline profitability, low interest rates and generally accessible funding markets, according to Fitch Ratings’ latest North American FI Chart of the Month and Aircraft Leasing Sector Review report. As the reports highlight, however, these variables are cyclical in nature or prone to temporary disruption,...

Iran urges U.S. to unblock aircraft deals, seeks investors

Iran urged the United States on Sunday to remove remaining obstacles to it buying passenger planes following the lifting of international sanctions and spread out the welcome mat to foreign investors as it seeks to boost its aviation sector. Iran provisionally agreed earlier this year to buy over 200 jets worth $50 billion at list prices from Airbus and Boeing under an agreement between Tehran...

Turtles in space and jetpacks for all a target for Chinese tech pioneer

KuangChi Science, a Chinese technology company hoping to send tourists – and turtles – into space, could soon go on a US$600 million investment spurt. Later this year, it intends to send mice and turtles into near-space, up to 100km above sea level, via a capsule hooked up to balloons. If that works, KuangChi can begin exploring sending humans aloft. Despite having few products o...

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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...