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CIC, Boeing, among 11 cornerstone investors in BoC Aviation IPO: IFR

Waypoint closes further $37 million in revolving credit

Waypoint Leasing has closed a further $37 million revolving credit facility with KeyBank’s Speciality Finance Lending unit. The company’s total revolving facility with KeyBank has now increased to $575 million. Waypoint say that they will use the extra funds to refinance helicopter...

Air Arabia profit jumps 42 per cent in first quarter

Budget carrier Air Arabia, the only publicly-listed airline in the UAE, reported a 42.2 per cent rise in first-quarter net profit today, beating analysts’ forecasts. The Sharjah-based firm made a net profit of Dh111.1 million in the three months to March 31, the company said in a statem...

airBaltic Share Capital Increase Completed

Yesterday the Shareholder Meeting of airBaltic decided the share capital increase of the Company by 131 152 036 shares with the nominal value of each share being EUR 1. The newly approved share capital of airBaltic will now constitute EUR 256 472 824, composed of 256 472 824 shares. The share capital increase procedure is thus completed. After the share capital increase, the Latvian...

Virgin expects to post $30-60 million underlying profit for full 2015/16 year

Virgin Australia says the airline group is on track for a full year profit despite a forecast second half loss amid weak demand in its key domestic market that has prompted capacity cuts focused on regional routes. The company reported a statutory loss after tax of $58.8 million for the three months to March 31, compared with $28.3 million loss in the prior corresponding period. Virgin said the...

Air Canada reports $101-million profit compared with a loss a year ago

Air Canada reported a profit of $101 million in its latest quarter compared with a loss a year ago. The airline says the profit amounted to 35 cents per diluted share compared with a loss of $309 million or $1.08 per diluted share in the same quarter last year. Operating revenue totalled $3.34 billion, up from $3.25 billion. On an adjusted basis, Air Canada said it earned a first-quarter...

Airbus shares nosedive after profit slumps

Shares in the European aerospace giant went into a sharp descent after it revealed a massive plunge in net profit following delays in deliveries and fresh problems with its troubled A400M military transport plane. Airbus stocks closed 4.8 percent lower at the Paris stock exchange on Thursday after the European aeronautics company unveiled a first-quarter net profit of 399 million euros ($453 mi...

Qantas and Vietnam Airlines to invest $181.5m in Jetstar Pacific

Qantas and Vietnam Airlines have unveiled plans to invest $US139 million ($181.5 million) to more than double the size of Vietnamese low-cost carrier Jetstar Pacific's fleet to 30 aircraft over the next four years. Qantas, as the owner of a 30 per cent stake, will provide $US42 million to Jetstar Pacific over a number of tranches between now and 2020 with Vietnam Airlines responsible for th...

Saudi Arabian Airlines planning own IPO

Airline chief Saleh Al Jasser says paperwork for a 30% listing of the cargo unit is being finalised. Saudi Arabian Airlines Corporation, the holding company of Saudi Arabian Airlines, is planning an initial public offering of the state-owned carrier, the airline’s director-general Saleh Al Jasser said on Monday. The listing is part of a five-year strategy to make the airline, also know...

CHC sets hard deadline

CHC Group, one of the world’s two largest helicopter operators, this week announced that it had decided not to make an interest payment on its bonds that mature in October 2020. It was due to pay $46 million on Monday. Although investors in the 9.25% senior secured notes are not happy, the company has a 30-day grace period before it is technically in default on these bonds. CHC could...

XTI Aircraft exceeds $1 million in equity crowdfunding investments

After capturing the imagination of the public with its TriFan 600 vertical takeoff airplane, XTI Aircraft Company (XTI) is accelerating its development program and redoubling efforts to translate excitement about the aircraft into $3 million in actual investments. The $3 million milestone is essential to fund important next steps in an accelerated development program that in...

Delta Decision to Suspend Istanbul Service Has Repercussions for Turkish Air

Shares of Turkey’s national airline sank the most in five months as Morgan Stanley recommended selling the stock and a U.S. carrier said it planned to suspend service to Istanbul. Turk Hava Yollari AO plunged 6.8 percent to 6.99 liras, with 145 million shares changing hands, the most since July 2009. Morgan Stanley downgraded the stock to underweight from overweight and cut the share...

Zurich Airport sells 5% stake in Bengaluru airport to Fairfax for $48.9 mn

Zurich Airport has inked an agreement to sell its 5 per cent minority shareholding in Bengaluru International Airport Ltd (BIAL) to the Prem Watsa-backed Fairfax Holdings for $48.9 million. Subject to customary regulatory approvals, the deal is expected to be completed within the third quarter of 2016. While there has been no word on the agreement from Fairfax, Zurich Airport has announced it o...

Waypoint Leasing closes $100 million term loan facility

Waypoint Leasing (Ireland) Limited (“Waypoint”), the largest independent global helicopter leasing company, today announced that it has closed on a $100 million term loan facility led by Lombard North Central Plc (“Lombard”). The facility has a maturity of approximately six years and provides for USD, EUR and GBP funding capacity on a delayed draw basis. The company will us...

Sabre acquires airline management service Airpas Aviation

Sabre has made its first acquisition of 2016 with the purchase of Airpas Aviation, a technology provider that helps airlines manage their route networks and costs. No terms regarding the acquisition were released in the announcement. Sabre will place the Germany-based company within its Airline Solutions portfolio of tools and services. Airpas has a number of tools and products that allow...

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