Aircraft Finance & Leasing News.

 
FREE EXCERPT

Sep 3, 2007

Earlier this month Air New Zealand said it would buy four new Boeing 777-300 aircraft to replace older planes and allow it to take on new international routes into Asia. It has also held its fuel surcharge, despite moves by Qantas, British Airways and Singapore Airlines to raise their charges in response to higher jet fuel costs. In January, Air New Zealand cut domestic fares by up to 26 percent in a bid to increase passenger numbers, which it said would offset any impact on profit margins. Aug 28, 2007

ATR and Batavia Air signed a contract for 10 ATR72-500s plus 10 options, the manufacturer announced, marking its first order from an Indonesian carrier. Batavia will fly the 74-seat turboprops on regional routes currently operated with Airbus and Boeing narrowbodies. Deliveries will extend until 2010, ATR said, adding that the Batavia Training Academy is "considering" acquisition an ATR flight simulator. Aug 27, 2007

Aviation Capital Group completed a private debt offering of $270 million of senior unsecured notes to institutional investors. Merrill Lynch & Co. and Calyon Securities were the joint lead placement agents and HSH N Financial Securities LLC was the co-agent for the offering. Proceeds will be used to refinance existing secured debt and pre-fund future aircraft purchases. Aug 31, 2007

Hf. Eimskipafelag Islands, formerly Avion Group, reached agreement for the disposal of its remaining 49% holding in Avion Aircraft Trading to Artic Partners. Artic, which is controlled by AAT Chairman Hafthor Hafsteinsson, AAT board member Arngrimur Johannsson and other AAT managers, acquired an initial 51% last October. Eimskip said sales proceeds amounted to $28 million and the profit on disposal before tax is estimated to be $24 million. Eimskip, parent company of ACMI provider Air Atlanta Icelandic, announced its intent to sell its AAT stake in May as part of its strategy to dispose of aviation-related assets. The sale of Air Atlanta is being undertaken along with airline managers and associated consultants. Aug 28, 2007

AZAL took delivery of its first ATR42-500, part of a $100 million contract signed in January for two ATR42-500s and four ATR72-500s. The Baku-based carrier will take delivery of its first ATR72-500 later this year and the remainder in 2008. Aug 27, 2007

Boeing and Xiamen Airlines identified the Xiamen, China-based carrier as the customer for 25 Next-Generation 737-800s listed as unidentified on Boeing's Orders &amp...

To continue reading

FREE SIGN UP