AerCap, the world’s largest aircraft lessor, said during its latest earnings call last week that aviation’s recovery continues. It sees lease rates maintaining their upward trajectory as China’s reopening adds to demand momentum and “further exacerbates the supply/demand imbalance for...
Read MoreAmerican priced a $750 million senior secure private term loan with a 7.25 percent interest rate last week. That's steep, but not surprising, given proceeds partially repay debt — the $1.75 billion outstanding under American's 2013 secured term loan facility...
Read MoreAir Lease Corp. priced a $700 million senior unsecured issue with an interest rate of 5.85 percent last week. The medium-term notes are due in December 2027. ALC will use the proceeds for general corporate purposes, including purchasing aircraft and...
Read MoreSpirit will raise $600 million in loyalty program-backed debt. The private placement is secured by the assets and intellectual property of the Miramar, Florida-based carrier’s Free Spirit and Spirit Saver$ Club programs. The three-year debt will carry an interest rate of...
Read MoreLatam Airlines Group priced $2.25 billion in bankruptcy exit financing from a group of lenders last week. The debt includes $450 million in five-year senior secured notes and $700 million in seven-year notes both at a fixed rate of 13.375...
Read MoreA U.S. bankruptcy court has approved $700 million in debtor-in-possession (DIP) financing for SAS. Funds will come from Apollo Global Management to carry the airline through its Chapter 11 restructuring. SAS has made progress reaching deals with its labor unions...
Read MoreThe Danish government has agreed to convert the aid it lent SAS during the pandemic into equity, as well as potentially investing new equity in the airline, as part of the airline's restructuring. Key to that, however, is the carrier...
Read MoreAir New Zealand issued A$550 million ($389 million) in medium-term notes on May 26. The fixed-rate debt is split into an A$300 million 4-year tranche and an A$250 million 7-year tranche. Proceeds will be used to redeem NZ$400 million ($258...
Read MoreChina Eastern Airlines plans to raise up to 15 billion yuan ($2.2 billion) through an equity issue. The carrier will issue up to 5.66 billion new shares on the Shanghai Stock Exchange to certain pre-approved investors. Proceeds will be used...
Read MoreTurkish Airlines posted a $161 million net profit on a $512 million operating profit in the first quarter. Revenues increased 10 percent year-over-three-years to $3.1 billion during the period with cargo the highlight; freight revenues doubled to $980 million. Unit...
Read MoreThe Lufthansa Group has signed a €2 billion ($2.2 billion) unsecured syndicated revolving credit facility. Chief Financial Officer Remco Steenbergen said the revolver, which replaces €700 million in undrawn bilateral credit lines, will help achieve the group's €6-8 billion liquidity...
Read MoreAir New Zealand is embarking on a major balance sheet improvement effort just as it's about to resume carrying international travelers. The airline has launched a NZ$2.2 billion ($1.5 billion) recapitalization program split between a NZ$1.2 billion rights offer to...
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