Leasing Business ACG reports $14m profit for Q1Aviation Capital Group, which last month closed its sale of $600 million 6.25 per cent senior unsecured notes due 2028, returned to profit in the first quarter of this year, following a write-off against Russian losses of $389 million taken in the same quarter last year. But a sharp rise in interest costs for the first three months meant the net profit for the first quarter was a modest $14 million. ALAFCO may still be in the market for new aircraft order
Airline Business Azul agrees terms with lessors to cut lease payments by $1.1bn, improves cash flow and fleet modernisationBrazilian carrier Azul Linhas Aereas has reached agreements with lessors and OEMs to reduce its current and long-term lease payments by $1.1 billion (BRL5.4 billion). The deal will also improve its cash flow and allow the carrier to continue to modernise its fleet. Developments ABL closes A321neo Jolco; Ryanair on advantages of scale
|
In this issue In this issueThe continued prospect of mega orders for new aircraft – Turkish Airlines is the latest, indicating an order for up to 600 planes is pending – demonstrates just how confident carriers are about the future on the back of the post-COVID rebound in passenger traffic. Against this background enthusiasm, however, finance providers still need to be disciplined, as latest events around the Go First insolvency in India reveal all too well. Aircraft Leasing Go First insolvency highlights need for consistency in Cape Town Convention implementation
Leasing Business New leasing platforms seek opportunitiesReflecting the upbeat mood in the aircraft leasing sector, a number of new platforms have been announced or are in the advanced planning stages. These include AIP Capital, backed by Miami PE firm 777 Partners, Tailwind Aviation, being established by industry veteran Ray Sisson, and a new venture from Martin Browne, son of Aergo Capital founder Fred Browne. Meanwhile, the new JP Morgan-backed Avionix is gearing up for growth. Airline Economics Turkish Airlines flags orders for 600 planesFollowing recent bumper orders from carriers such as Air India and Ryanair, a steady flow of new orders for the OEMs is evident, with some more potentially very large ones yet to come. For example, a potential 600 aircraft order by Turkish Airlines with Boeing and Airbus appears to be imminent, while Delta is believed to be contemplating an order for ‘dozens’ of widebodies. |