All articles by Cirium – Page 14
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NewsAmerican prepays CARES Act loan with $10bn financing proceeds
American Airlines has closed a previously announced $10 billion financing backed by its customer loyalty programme and used a portion of the proceeds to prepay its CARES Act loan to the US Treasury.
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AnalysisLHT looks back on ‘leap of faith’ into the Philippines
Lufthansa Technik’s establishment of a maintenance site in Manila in 2000 was a central step for the German MRO provider to build up an international facility network and gain access to local customers, recalls the Philippine operation’s chief executive Elmar Lutter.
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OpinionFleet composition crucial to Nok’s rehab plan draft
Nok Air needs to work out a viable fleet strategy before putting pen to paper on the first draft of its rehabilitation plan, which is now due for submission on 15 April after the airline got a one-month extension.
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NewsStart-up Norse Atlantic plans $152 million private placement
Norwegian long-haul start-up Norse Atlantic is seeking to raise NKr1.28 billion ($152 million) via a private placement and plans to list on Olso’s Euronext Growth exchange.
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NewsAir Nostrum joins Dante’s effort to electrify regional aviation
Regional carrier Air Nostrum has become the second Spanish airline after Volotea to support electric aircraft developer Dante Aeronautical.
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NewsAir Baltic’s all-A220 fleet to help it ‘fly out’ of crisis: chief
Air Baltic chief executive Martin Gauss has reaffirmed the carrier’s commitment to an IPO, and expressed confidence that its strategy to become an all-Airbus A220 operator makes it “well-positioned” to emerge from the Covid-19 crisis.
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NewsJetBlue explores possible E190 sale-and-leasebacks
JetBlue Airways has been looking at potentially selling and leasing back 30 owned Embraer 190s as it seeks to transition the aircraft out of its fleet in favour of the Airbus A220, Cirium understands.
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NewsIAG uses Gatwick slots to secure new $1.8 billion credit revolver
IAG has signed a $1.76 billion revolving credit facility with a syndicate of banks, using take-off and landing slots at both London Heathrow and Gatwick airports as collateral.
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NewsAirAsia to swap stock for full ownership of loyalty programme
Malaysia’s AirAsia Group and Aimia Holdings UK II have signed a memorandum of understanding (MoU) for a $25 million stock swap deal, for the latter’s 20% equity interest in the airline group’s loyalty programme.
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NewsAlaska Airlines names new chief operating officer
Constance von Muehlen has been named as Alaska Airlines’ new chief operating officer, effective 3 April.
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NewsAustrian resumes normal service on London and Tel Aviv flights
Austrian Airlines is resuming normal operation for flights to London and Tel Aviv from Vienna after an easing of Covid-19 related restrictions.
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AnalysisCFM56 overhaulers see light at end of tunnel
Maintenance companies are confident of a recovery in CFM International CFM56 overhaul shop visits after airlines sharply reduced engine MRO activities amid the pandemic.
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NewsBamboo Airways targets third quarter for IPO
Vietnam’s Bamboo Airways has confirmed that it intends to make its debut on a local stock exchange in the third quarter.
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NewsGECAS-Air China A320neo sale stemmed from prior lease agreement
GECAS’s deal to sell 18 Airbus A320neo-family aircraft to Air China, disclosed on 18 March, stemmed from a previous agreement with the carrier to lease the aircraft, Cirium understands.
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NewsSingapore and New Zealand in talks to sync Covid-19 documentation
Singapore is in talks with New Zealand to harmonise the recognition of Covid-19 documentation, with the aim of restarting travel.
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NewsIAG to raise €1 billion through bond issue
IAG has issued two tranches of senior unsecured bonds to raise a total of €1 billion ($1.19 billion), which it will use to shore up liquidity and for other general corporate purposes.
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NewsAero Norway targets Leap engine MRO from 2023
Engine overhaul provider Aero Norway has studied the requirements of supporting CFM International Leap engines and aims to begin shop visits for the new-generation turbofan in 2023.
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NewsSun Country stock debuts with $1.84 billion valuation
Sun Country Airlines began trading on 17 March under the ticker “SNCY” on Nasdaq priced at $33 per share, higher than its original expectation of $21 to $23 per share, giving the low-cost carrier a market value of $1.84 billion.
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NewsAirAsia X wins restraining order on creditors, with exceptions
AirAsia X has been granted by the High Court of Malaya a three-month restraining order on creditors to help with its debt restructuring.
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NewsPhilippines cuts air travel to main gateway amid Covid-19 spike
The Philippine government is set to limit passenger arrivals to the country’s main international gateway for one month, as part of restrictions to clamp down on a spike of Covid-19 infections that began early this month. Authorities will impose a cap of 1,500 passenger arrivals per day on international flights ...