Sky Money

Article • Sky Money

United Finances Houston Improvements

Air Lease Corporation priced a $600 million unsecured medium-term notes issue at 0.8 percent last week. The debt matures in August 2024. The lessor will use proceeds for general corporate purposes, including aircraft purchases and repaying outstanding debt. Volaris and CDB...

Read More
Article • Sky Money

Air Canada Refinancing Goes Big

Air Canada has put the pieces together on a roughly $5.7 billion financing package. It includes a $2.8 billion private placement split between: $1.2 billion in senior secured notes due in 2026 with a 3.875 percent coupon, and C$2 billion...

Read More
Article • Sky Money

Air Canada Plans $5.4 Billion Refinancing

The debt refinancing spree continues with Air Canada looking to raise up to $5.35 billion to repay four separate high-coupon transactions. The deal includes a $2 billion senior secured term loan B due in 2028 and a senior secured revolving...

Read More
Article • Sky Money

Aircastle Holds Off on Calling Bottom

Executives at lessor Aircastle took a decidedly less optimistic tone than their counterparts at many airlines about the pace of the industry's recovery. "I'm not sure if anything has bottomed out at this point as we see the delta variant...

Read More
Article • Sky Money

Wow Copycat Play Airlines’ Shares Fall on First Day

There’s a strong sense of déjà vu in the skies over the North Atlantic. Icelandic startup Play Airlines debuted on the Nasdaq First North stock exchange on July 9 with an eye on picking up where Wow Air and Norwegian...

Read More
Article • Sky Money

American Funds JFK Expansion

The New York Transportation Development Corporation has launched a $150 million bond issue on behalf of American Airlines. Proceeds of the deal will partially fund the carrier's expansion of Terminal 8 at New York JFK International Airport, as well as...

Read More
Article • Sky Money

CIT Exits Aviation Finance

Fly Leasing shareholders approved Carlyle Aviation's planned acquisition of the Dublin-based lessor, and pending regulatory review, the deal is expected to close in July. Fly Leasing has about 100 aircraft in its portfolio, and the deal is reported to be...

Read More
Article • Sky Money

Transat Builds Tour Portfolio

Fresh off the collapse of its proposed merger with Air Canada, Transat is making corporate moves that could boost its tour business. The company has acquired the remaining 30 percent stake in TraficTours Canada and taken full control of the...

Read More
Article • Sky Money

Apollo Sells Down Sun Country Stake

International airlines without local markets have fared worse through the crisis than those that can fall back on domestic flying when borders close. Industry leader Singapore Airlines is in that former group with plans to raise another S$6.2 billion ($4.7...

Read More
Article • Sky Money

Airlines Tap the Markets (Again)

Fresh off a small first quarter profit thanks to Uncle Sam, Allegiant Air raised nearly $296 million by issuing 1.35 million shares of new stock last week. Shares priced at $219 each, or a $15 discount off the closing price...

Read More
Article • Sky Money

It’s Revolver Amendment Season

Aircastle has beefed up its $1 billion revolving credit facility. The lessor added two banks to the 10 backing the facility, and extended the maturity by three years to 2025. Aircastle can draw on the facility as needed.Tis the season...

Read More
Article • Sky Money

French State, China Eastern Raise Air France-KLM Stakes

Air France-KLM will raise at least €968 million ($1.16 billion) through a private placement of new shares. The Franco-Dutch group will issue at least 200 million new shares at €4.84 each — a price at the low end of initial...

Read More