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Icelandair Cancels Pandemic Credit Line

In the latest sign the international travel recovery is firmly underway, Icelandair has cancelled a $120 million credit facility from Íslandsbanki and Landsbanki that was backed by the Icelandic government. The two-year revolver was extended to the airline in September...

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United Weighs MileagePlus Stake Sale

After its successful securitization of MileagePlus in 2020, United Airlines is evaluating potentially selling a minority stake in the loyalty program, reported Bloomberg. The possible deal, which the carrier declined to comment on, would likely involve no more than 15...

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Castlelake Closes $1.6 Billion Fund

Gol has closed up to $600 million in lease financing from Castlelake for 12 Boeing 737 Max aircraft. The deal covers 10 finance leases and two sale-and-leasebacks of 737-8s, and will finance the full capital costs of the aircraft. The...

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Airlines Issue More Than $1 Billion in Bonds

Korean Air priced a Japanese yen-denominated senior unsecured bond guaranteed by the Export-Import Bank of Korea (KEXIM). Proceeds from the three-year notes will be used to repay debt. Moody's Investor Service rated the bond an investment grade Aa2.Singapore Airlines sold...

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Air Lease Prices Debut 2022 Bonds

Air Lease Corp. has priced a $750 million senior unsecured medium-term notes offering at 2.2 percent. The debt matures in January 2027. Proceeds will be used for general corporate purposes, including acquiring aircraft and repaying outstanding debt. Bank of America...

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Delta, Virgin Group Invest $530 Million in Virgin Atlantic

Delta Air Lines is investing up to $1.2 billion in three of its foreign airline partners — Virgin Atlantic, Aeromexico, and Latam Airlines Group — as those carriers emerge from bankruptcy and restructuring. The move is a sign that Delta...

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Lufthansa Issues €1.5 Billion Bond

The Lufthansa Group issued a €1.5 billion ($1.7 billion) unsecured corporate bond last week. The two-tranche transaction is split between €600 million in 1.625 percent notes due in November 2023, and €900 million in 2.875 percent notes due in May...

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American Taps Capital Markets

American Airlines launched its first enhanced equipment trust certificate (EETC) issue of the year, the $960 million 2021-1 notes, last week. The $758 million A tranche priced at a 124.5 basis points over 10-year U.S. Treasuries on October 26 with...

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Qantas Sells Land for Cash

Etihad Airways has closed a $1.2 billion loan linked to its environmental, social and governance targets. The financing, which Etihad touts as the "first sustainability-linked" loan in global aviation, is tied to its carbon emission reduction targets, socioeconomic programs including...

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Finnair, Icelandair Close Sale-And-Leasebacks

EasyJet completed its £1.2 billion ($1.6 billion) rights issue with 93 percent of the new 301 million new shares subscribed by close on September 28. The balance will be purchased by underwriters BNP Paribas, Credit Suisse, Goldman Sachs, Santander and...

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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...

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Lufthansa Raises Capital to Repay Aid

Lufthansa Group has launched a €2.1 billion ($2.5 billion) capital increase. Proceeds will repay the €1.5 billion Silent Participation I from the German government's Covid-19 stabilization package and boost liquidity. In addition, citing indications of a "sustained demand recovery" and...

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