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Shares in African budget airline Fastjet drop almost 11 per cent

Virgin Australia secures $A425 million loan from major shareholders, announces capital review

Virgin Australia has tapped its four major shareholders for a $A425 million loan facility as part of a fresh review of its balance sheet. The 12-month, $A425 million loan facility with Air New Zealand, Etihad Airways, Singapore Airlines (SIA) and Sir Richard Branson’s UK-based Virgin Group...

AirAsia X receives second certification for the IATA Operational Safety Audit (IOSA)

AirAsia X, an affiliate of the AirAsia Group, received its second IATAOperational Safety Audit Certification (IOSA), confirming that the airline is in compliance with the international operational safety standards. IATA’s Operational Safety Audit (IOSA) program is an internationally re...

Zodiac Aerospace sees profits flat this year due to production problems

Troubled French group Zodiac Aerospace said on Tuesday that its operating profit in the current year ending in August was likely to be unchanged from last year, as a result of its problems with meeting orders for airliner seats. The company, which supplies both Airbus and Boeing, said last month that it would not now hit its goal this year of raising its operating margin to around 10...

Royal Jordanian posts JD21 million net profit in 2015

In a meeting held on March 13, 2016, Royal Jordanian’s Board of Directors, presided by Chairman Suleiman Hafez, endorsed the company’s audited financial results. The figures show that Royal Jordanian registered a net profit before tax of JD21 million in 2015, while in 2014 it had registered JD49.5 million net losses before tax. The net profit after tax reached JD16 million, while in...

Pillsbury Expands In Asia With Leading Aviation Finance Partner Paul Jebely

Pillsbury announced that it is applying for a license to open an office in Hong Kong as part of the firm’s long-term strategy to extend its reach in China. Prominent aviation finance lawyer Paul Jebely will lead the firm’s highly ranked Transportation Finance practice in Asia and play a key role building the new office once a license is obtained. Jebely comes to Pillsbury from the Hong...

Amazon will lease 20 Boeing 767s to get its long-rumored cargo service off the ground

Amazon is about to lease 20 Boeing 767 aircraft, according to Reuters, confirming months of speculation that the online retail giant is building up an air-delivery service. The planes are being leased by a company called Air Transport Services Group Inc. Rumors of Amazon's involvement with ATSG date to late last year, when Motherboard uncovered that the aviation lessor was shipping goods fo...

Albania offers collectors: Military’s rusting fighter jets up for auction

If you want to buy a secondhand fighter jet, Albania’s the place to go right now. The 40 obsolete Soviet and Chinese-made aircraft up for sale once roared over what was Europe’s most exclusive airspace. The Albanian pilots were members of an exalted military elite that had its own food-tasters and was tasked by Communist Albania’s paranoid regime with deterring countless enemi...

Kiwi Regional Airlines plans to crowdfund $2 million for new plane

Kiwi Regional Airlines plans to raise up to $2 million through crowdfunding to buy a second aircraft. The new aircraft would be a Saab 340 QC used for passenger and freight charters and as a backup for maintenance of its existing aircraft Saab 340A. Last month the Hamilton airline cancelled flights after grounding the 34-seater...

Embraer Stock Plunges 12% on Earnings: 3 Things Investors Missed

Shares of Brazilian aircraft manufacturer Embraer plummeted 12% on Thursday, after the company's Q4 earnings and 2016 guidance missed expectations. This cut its market cap to less than $5 billion. Embraer's defense business was under pressure throughout 2015 as the Brazilian government has been coping with a budget crisis. Its executive jet business has also fallen on hard times, due to...

Russia’s Aeroflot Loses Money in a Year Most Airlines Are Big Winners

Russia’s largest airline, Aeroflot, has bucked the trend of strong profits in the airline sector by reporting a loss of $88 million for 2015. Despite posting a 13.4 percent rise in passenger numbers and holding the lion’s share of the domestic market, Aeroflot lost money for the second consecutive year, reporting a 6.49 billion ruble ($88 million) shortfall. The company attribute...

Stelios demands Fastjet CEO replacement over cost concerns

Stelios Haji-Ioannou, one of the largest investors in Fastjet (FN, Dar-es-Salaam) (through easyGroup holding 12% of Fastjet shares), has demanded an extraordinary general meeting of shareholders to discuss the proposed dismissal of Fastjet's chief executive Ed Winter and one of its directors, Krista Bates. Winter already announced in January that he was planning to step down once a successo...

London City Airport Deal Shows Infrastructure Investors’ Willing to Pay Up for Smaller Airports

Infrastructure investors are hot on the trail of airport assets and are willing to pay a premium, even for secondary and regional airports. Emblematic of this quest is the deal reached by a consortium that included Ontario Teachers’ Pension Plan and Borealis Infrastructure to acquire London City Airport, located just east of the city’s Canary Wharf district and favored by business t...

This Private Plane Startup Is Now Worth Over A Half Billion Dollars

On-demand flight company Wheels Up raised over $96 million. Wheels Up is a membership-based private aviation company that last September announced “up to $115 million” in new venture capital funding from T. Rowe Price, Fidelity Investments and New Enterprise Associates. A lot of the related media coverage, however, left out the “up to” part. At the time, Wheels Up had...

FLY Leasing Closes $385 Million Aircraft Acquisition Facility

FLY Leasing Limited , a global leader in aircraft leasing, today announced that it has closed a $385 million blind pool aircraft acquisition facility. The facility has a three-year revolving period followed by a three-year term and will bear interest at LIBOR plus 2.00% during the revolving period. The lenders include Commonwealth Bank of Australia New York Branch, MUFG’s bank...

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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...

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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...