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 MoreAir 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 MoreThe U.S. Treasury is beginning to turn a profit from the loans it provided airlines under the CARES Act coronavirus relief package. American Airlines and Sun Country Airlines both repaid their loans at the end of March, with a new...
Read MoreAmerican Airlines and Sun Country Airlines have paid back their CARES Act loans from the U.S. government, even as additional payroll support continues to roll in from President Joseph Biden's $1.9 trillion stimulus bill. Keeping with their recent financing commitments,...
Read MoreIAG raised €1.2 billion ($1.4 billion) in a senior unsecured bond issue last week. The debt was split between a €500 million series A with an interest rate of 2.75 percent due in 2025, and a €700 million series B...
Read MoreFrontier Airlines is the second low-cost carrier in a month to file for an initial public offering, clearly seeing opportunity in the prevailing assumption that affordable leisure travel will rebound first from the pandemic. Denver-based and private equity-owned, Frontier filed...
Read MoreWhich travel companies are the most hated on Wall Street? The table below tells us exactly that -- the higher the percentage, the more bearish the sentiment. American Airlines and global distribution system Sabre draw the most investor skepticism by...
Read MoreThanks to generous government support, Air France managed to survive the worst of the crisis. But as CEO Anne Rigail explains, the airline needs more capital to strengthen its balance sheet. With much of the French economy under lockdown this...
Read MoreBoeing CEO David Calhoun, in an interview with NBC, caused a stir by suggesting a major U.S. airline would go out of business by the fall. “What did he just say?” was how the Wall Street Journal described the reaction...
Read MoreU.S. airlines spent another week hunting for cash, in most cases successfully. Southwest sold 20 B737s in a sale-leaseback arrangement, specifically 10 MAX 8s and 10 -800s. It expects to receive gross proceeds of more than $800m. Spirit sold both...
Read MoreWarren Buffet, perhaps America’s most famous investor, regretted ever lending money to US Airways, with a stock conversion option, in 1989 (though his Berkshire Hathaway did ultimately profit from the investment). Those bad memories notwithstanding, by 2016 he was convinced...
Read MoreIt was a crazy week in the oil market. Really crazy. The craziness, more specifically, occurred in the oil futures market, where the May contract price for West Texas Intermediate oil (WTI), dropped to negative $40. Huh? It basically meant...
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