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DAE grants 12% of revenues in rent deferrals
Lessors Middle EastLessor gives rent deferral assistance to 30% of customers.
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Norwegian cancels 97 Boeing orders
Airlines EuropeNegotiations with the OEM had failed to yield necessary compensation, the airline says.
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Exclusive: Unsecured lenders unhappy with NAC debt plan
Lessors EuropeTalks are understood to have stalled over unsecured creditor demands.
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Exclusive: CALC buys Norwegian 737s for Chinese lessee
Lessors Northeast AsiaThis continues the lessor’s strategy of maintaining close ties with China’s state-controlled airlines.
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ACG starts cash tender for 7.125% notes
Aircraft North AmericaAs of 10 June, the lessor had $600 million aggregate principal amount of the notes outstanding.
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Delta to amend debt deals
Airlines North AmericaIt expects revenue for the second quarter to be reduced by 90% compared with the year-earlier period, with systemwide capacity down 85% year over year.
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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.