Sky Money

ACG Raises Aircraft Capital

  • Aviation Capital Group closed a sale of $750 million in 1.95 percent senior unsecured notes due 2026 with a 7.728 percent yield-to-maturity. Proceeds will be used to purchase aircraft, repay debt and for general corporate purposes.
  • Gol has priced a $150 million add on to its 8 percent senior secured notes due 2026. The additional funds increase the facility, which was first priced in December 2020, to $650 million. Proceeds will be used for opportunistic aircraft deals like the one for 28 Boeing 737-8s it unveiled in August, as well as general corporate purposes.
  • JetBlue has repaid the $115 million outstanding under its CARES Act loan from the U.S Treasury. The debt, which was priced at 275bps over Libor, was borrowed to boost the airline’s liquidity in September 2020. Since then, the travel recovery has accelerated faster than many expected and JetBlue has been able to tap private sources for its capital needs.

— Edward Russell

You're reading this issue

Issue No. 832

U.S. Sues to Split Up American and JetBlue

We thought it could happen when the U.S. Justice Department (DOJ) said it was looking into the American Airlines-JetBlue Airways Northeast Alliance. And it did. Last week, the DOJ filed a suit in the U.S. District Court for the District…

Read The Issue
Issue No. 835

Is Premium Leisure the Next Big Thing?

Delta opened the third-quarter earnings season with confidence. After posting its first quarterly profit sans government aid since early 2020, the airline is looking to a year-end holiday bump and then a pick up in business travel in the new...

Read More
Issue No. 834

A Patchwork Recovery

Last week's IATA Annual General Meeting was a celebratory ball, of sorts, as airline leaders gathered together en masse for the first time since they did so in 2019, in Seoul. The tone of the meeting was excitement, as executives...

Read More
Issue No. 833

Regionals’ Labor Issues Return

The U.S. regional sector has long faced hiring issues. Cape Air began actively working to address the impending pilot shortage in 2009, even before the so-called "1,500 hour rule" — largely panned in the sector — came into force in...

Read More