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S&P downgrades SAS on debt default risk
Airlines EuropeAgency flags risk of negative impact of restructuring plans.
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Aercap executives proposed for Norwegian governance roles
Lessors EuropeAirline nominates candidates ahead of AGM.
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Boeing ex-CEO McAllister joins AEI
Aircraft North AmericaMcAllister served as president and CEO of Boeing Commercial Airplanes from 2016 through October 2019.
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Lufthansa to finance all deliveries through SLBs
Airlines EuropeAirline group makes debt repayment a priority.
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Aercap prices $1.25bn notes offering
Lessors EuropeCitigroup, Deutsche Bank Securities, HSBC Securities., Mizuho Securities and Morgan Stanley are serving as joint book-running managers for the underwritten public offering.
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SMBC AC seeing staggered airline recovery
Lessors EuropeLessor sees some airlines return to paying rent while others seek additional deferrals.
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Government prepared to fund SAA rescue
Airlines AfricaDraft document outlines debt repayment and restructuring cost plans.
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COVID: Lessors have 'sufficient headroom' within ratings: Fitch
Aircraft North AmericaLiquidity sources of Fitch-rated aircraft lessors covered uses by approximately 1.6x, except at Voyager Aviation and Avation, which have reported ratios below 1.0x.
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Virgin Australia obtains repossession injunction
Law OceaniaMorgan Stanley has been appointed to run the sale of the airline alongside advisers Houlihan Lokey.
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Analysis: Asian carriers face stark load factor challenge
Capital Southeast AsiaOf more than 60 global airlines surveyed by Airfinance Journal’s The Airline Analyst, approximately a quarter have reported average seat load factors insufficient to break even when assessed against reported earnings before interest and taxes (EBIT). Only one major carrier would survive ‘empty middle seat scenario’, data shows.
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Cash burn & liquidity
AirlinesHow big is the cash burn? Who is going to fund it? What shape will it leave the industry in?
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Aercap and BOC Aviation now biggest Norwegian shareholders
Airlines EuropeAirline succeeds in tapping government guaranteed financing.
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Altavair inks Delta A321 sale and leaseback
Aircraft North AmericaThe acquisition was made through aircraft leasing investment platform Altitude Aircraft Leasing, which was established by KKR’s credit and infrastructure funds in 2018.
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US capital market funding not ‘broken’: PwC
Airlines North AmericaFailure of United's private offering does not mean tap is turned off.
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AFJ Webinar audience sees 68% of lessors doing new deals
Lessors EuropeMore than two-thirds of the top 50 leasing companies will be active through 2021 underwriting new deals, the AFJ webinar ‘cash burn and liquidity’ reveals.
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Exclusive: Lessors tap ECA support for deliveries
Lessors EuropeLessors seek support from European ECAs.
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Final A320neo 'pop up' bids due: sources
Aircraft EuropeThe final round of "first improvement bids" are due for the aircraft that are scheduled for delivery in June, say sources.
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Agreeing fixed rent deferrals not ‘smart’: Avation
Lessors Southeast AsiaLessor hails approach of maintaining reduced rental payments.
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United brings $2.25bn bond issue to market
Airlines North AmericaThe senior notes, which are in due 2023 and 2025, are collateralised by 360 aircraft with an average age of 20 years.