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Alliance Aviation Buys 21 Fokker Jets from Lufthansa Group

Zodiac Aerospace, income shrank by 44,6% in 2014/2015

The Supervisory Board of Zodiac Aerospace Group met on November 23, 2015 and approved the financial statements for fiscal year 2014/2015 (September to August). FY2014/2015 was marked by the difficulties faced by the Group's Aircraft Interiors business, and in particular the growth crisis experie...

Tuniu Declines As HNA Deal Underscores China Travel Competition

Tuniu Corp. ended a two-day gain as investors bet a US$500 million investment from HNA Tourism Group Co. won't be enough to turn the company profitable amid competition in China's online travel-booking industry. The American depositary receipts declined 0.8 percent to US$15.59 in New York...

China Eastern Issues 2 Billion Yuan Super & Short-Term Commercial Paper

China Eastern Airlines (MU) Friday completed the issue of a 2 billion yuan super & short-term commercial paper (SCP), its sixth batch of SCP this year. The SCP will have a maturity of 270 yuan, with a face value of 100 yuan and an interest rate of 3.1%. The Shanghai-based carrier said the fund collected from the SCP will be used to replace loans of the airline and its subsidiaries. Th...

Lenders to Grounded Kingfisher Air to Auction Some Assets

Lenders who are owed more than US$1 billion by grounded carrier Kingfisher Airlines Ltd are putting up for sale some of its assets including cars and forklifts. An auction notice appeared on Saturday on the website of the trustee company representing the creditors. Kingfisher, founded by liquor baron Vijay Mallya and once India's second-biggest airline, stopped flying three years ago as...

Boeing, GE Capital Aviation Services Celebrate Delivery of Lessor's 500th Boeing Airplane

Boeing announced the delivery of the 500th Boeing airplane to GE Capital Aviation Services (GECAS). The Next-Generation 737-800 will be leased to Kenya Airways and is the 401st 737 delivered to the leasing company. "This is a major milestone in our 20-year association with Boeing," said Norm Liu, President and CEO, GECAS. "We are proud to take delivery of our 500th Boeing airplan...

Record Profits for EL AL

EL AL’s President & CEO, David Maimon: “The Company presents record results in all parameters, from revenue growth to major increases in the Company’s operating profit and net profit, which in this quarter reached the highest peak of all times. These historic results are the consequence of business moves and actions taken by the Company in the various areas, and all w...

Standard & Poor's Rating Services Confirms Credit Rating of Moscow Domodedovo Airport at ‘ВВ+’

On 16 November, 2015 the company’s credit rating was confirmed on the as-is level, which reflects S&P’s opinion of the confident position of Domodedovo Airport in the face of market challenges. According to Standard & Poor's assessment, Moscow Domodedovo Airport is characterised by a stable market position based on high passenger traffic numbers and absence of infrastruc...

LATAM Defers Aircraft Deliveries in Bid to Save US$3 Billion

Following a third quarter net loss of US$113.3 million exacerbated by a slowing Brazilian economy, LATAM Airlines Group has announced plans to trim up to US$3 billion in fleet capital expenditure for the period 2016 to 2018. LATAM says it has already managed to save US$1.8 billion through the deferral of certain aircraft originally scheduled for delivery in 2017 and 2018. In a statement, t...

Virgin reaffirms guidance for return to profitability in 2015/16

Virgin Australia chief executive John Borghetti says the airline group is on track to return to profitability in the current financial year, reaffirming previous guidance. Borghetti told shareholders at the company’s annual general meeting in Brisbane on Wednesday that Virgin was continuing to gain more higher-yielding customers and was “well advanced in reaching our goal of 30 per...

Easyjet reports record profits for fifth straight year

Easyjet has posted its fifth successive year of record profits, boosted by what the airline said were "favourable economic and consumer trends". Annual profits at the carrier, which has just celebrated its 20th birthday, jumped 18% to £686m. Revenues rose 3.5% to £4.68bn, with passenger numbers up 6% to 68.6 million in the year to end-September. The figures do not in...

Quebec to fund its CSeries stake via annual borrowing program

The Quebec government said on Monday its $1 billion investment in a partnership with Bombardier Inc that is aimed at completing the company's CSeries jet program will be financed through the government's annual borrowing program. Bombardier's CSeries passenger jet program is already years late and billions of dollars over budget. In October, the government in Bombardier's h...

Fitch: More New Aircraft ABS Likely in 2016 as Competition Intensifies

The aircraft ABS sector continues to heat up and is set for another bump in new deals in 2016, according to Fitch Ratings in a new report. Fitch reports 11 aircraft ABS securitizations as being completed since the start of 2014, with many in the market predicting more next year. Meanwhile, EETCs remain a viable source of funding as the first two ‘AA’ issuances si...

Cape Verde's TACV secures $11mn in loans as losses continue

The Cape Verdian government has authorized the extension of two financial loans to struggling national carrier TACV - Cabo Verde Airlines (VR, Praia). An official government gazette published earlier this month says the Treasury will extend CVE950 million (USD9.26 million) in preferential loans to TACV while an additional EUR2 million (USD2.2 million) has been sourced from the Angolan Investment B...

FLY Leasing, net income increases $32.3m in Q3, 2015

Fly Leasing Limited, a global leader in aircraft leasing, announced its financial results for the third quarter of 2015 and a $100 million share repurchase program. “Our third quarter results demonstrate our progress in selling older and underperforming assets, enhancing our fleet metrics and reducing costs,” said Colm Barrington, FLY’s CEO. “Today we announced the next...

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