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Latest Finance news

IATA: Another Strong Year for Airline Profits in 2017

Research from Global Jet Capital identifies $939 million of mid to large sized private jets for sale in Middle East

New research from Global Jet Capital, a global provider of financing solutions for corporate aircraft, reveals there are around 73 aircraft of this size for sale in the Middle East, with a combined value of around $939 million. Some 26 of these aircraft are registered in the United Arab Emirate...

ADGM moves to bring in aviation finance industry

Abu Dhabi Global Market has launched two initiatives to accelerate growth at the UAE’s newest free zone. It has adapted its rule book to encourage the aviation finance industry to set up on ADGM’s Al Maryah Island base; and it is to host a global summit on financial technology in supp...

airberlin marks milestone to refocus its business with sale of NIKI

airberlin announced the sale of its share in NIKI to Etihad for a total consideration of 300 million euros. The divestment marks an important milestone in the implementation of the company’s restructuring plan announced in September. The transaction is subject to regulatory approvals. Etihad will not majority own or effectively control NIKI. Stefan Pichler, CEO of...

UK defence secretary announces £100m deal to improve RAF drones

Contract with California-based firm is intended to boost performance of new fleet of Protector drones The defence secretary, Michael Fallon, has announced a £100m contract to improve the performance of a new generation of drones for the RAF. The government disclosed as part of last year’s defence review that it would double its drone fleet from 10 to 20 and the existing Reapers w...

Russia's Sukhoi Civil Aircraft Company to Boost Share Capital By Almost $4Bln

Russia's Sukhoi Civil Aircraft Company (SCAC) plans to draw on some 238.4 billion rubles ($3.7 billion) in funds by additionally raising its share capital, the company said Friday. In September, SCAC shareholders decided to boost the company's share capital by emitting 1,000-ruble shares. "The price of one common registered uncertificated share of the Sukhoi...

Dnata expands into Canada with Toronto deal

Dnata has purchased a 50% stake in GTA Aviation's cargo and ground handling operation at Toronto Pearson International Airport. This investment marks dnata’s first step into the Canadian market and is a significant development in the company’s expansion into the Americas, less than a year after announcing investments in the US and Brazil. GTA, which was launched in 2014 by Ma...

Drone Usage in Agriculture Could Be a $32 Billion Market

Agriculture could be one of the biggest drone markets. You might be familiar with the idea of drones delivering consumer packages or monitoring security areas, but did you know that drones were first used commercially in Japan for agricultural purposes? In fact, agricultural efficiency is poised to take a big leap with drone technology now that the U.S. Federal Aviation Administration is stream...

Bombardier Announces Closing of its New Issuance of Senior Notes due 2021

Bombardier Inc. announced that it has successfully closed its offering of US$1.4 billion aggregate principal amount of new Senior Notes due December 1, 2021 which carry a coupon of 8.750% per annum and were sold at 99.001% of par (the “Notes”). Bombardier intends to use the net proceeds of this offering of Notes, together with cash on hand, to finance the redemption of all of i...

Brazil approves Qatar Airways’ stake purchase in Chile-based Latam Airlines

Latam Airlines has announced that Brazil’s competition regulator Cade has given the green light for Qatar Airways to purchase a stake in the Chile-headquartered regional carrier. Qatar Airways in July agreed to acquire up to 10 per cent of Latam’s total shares following a capital increase of US$613 million, through the issuance of new shares at $10 per share. Latam said it will n...

Bombardier Reports Third Quarter 2016 Results

Bombardier reported its third quarter 2016 results and highlighted solid performance executing its turnaround plan. “We continue to gain momentum as we execute our turnaround plan and transform our company,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. “In the third quarter, we again delivered on our financial commitments, we achieved our progra...

Air BP and BP Ventures announce investment of $30 million in biojet producer, Fulcrum

BP announced the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum BioEnergy, a pioneer in the development and production of low-carbon jet fuel, in which BP will invest $30 million. As an equity investor, BP has secured a 10 year offtake agreement with Fulcrum for 50 million US gallons per year, from their plants under development across North...

Dubai adds $3billion to airport expansion funding

Dubai is looking to raise US $3 billion to fund expansion of its two international airports and has hired HSBC to advise on raising the finance. The Department of Finance, Government of Dubai, says HSBC will advise it, the Investment Corporation of Dubai and Dubai Aviation City Corporation on raising funds through various sources, including Islamic financing. The emirate wants to boost annu...

Surf Air shops for planes to expand into Europe

Surf Air, the Santa Monica-based company that charges a monthly fee for all-you-can-fly services, is shopping for planes to expand its business to Europe. Surf Air executives said they are negotiating with Kansas-based Textron Aviation, which builds Cessna planes, and Brazilian airplane manufacturer Embraer, to purchase a fleet of executive jets for the new venture. A Brazilia...

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 Fitch's views that the recent improvement in the company's funds from operations (FFO), whilst e...

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