New York, Geneva (AirGuideBusiness - Aircraft Finance & Leasing News Europe) Jun 20, 2010
U.K. prepares for major cuts in defense spending. The British government is preparing for substantial defense spending cuts as the country moves to slash its record-high budget deficit. In the first review of the U.K.'s defense capabilities since 1998, lawmakers will strive to shift from strategies left over from the Cold War to new and future threats, and a procurement report last year already stated that the Ministry of Defense would not be able to afford as much as half of the equipment it is seeking to buy in the next decade. Jun 14, 2010
AWAS AWAS Aviation Capital Ltd. issued a USD530 million Senior Secured Term Loan maturing in June 2016 and will use the proceeds to refinance two secured credit facilities. The loan is secured by 30 aircraft on lease to 18 lessees in 12 countries and comprises 51 percent Boeing aircraft and 49 percent Airbus aircraft. Goldman Sachs Credit Partners L.P. and Credit Agricole Corporate & Investment Bank acted as joint lead arrangers for the facility. Jun 17, 2010
Cargoitalia, Boeing Cargoitalia took delivery of its third MD-11F from Boeing under a long-term lease. The newly converted aircraft will serve Cargoitalia's Milan Malpensa-Shanghai route beginning in July. Jun 14, 2010
Emirates Airlines, Airbus The Airbus A380, the world's largest passenger jet, got a major boost when Emirates airline ordered 32 of the double-decked aircraft, raising prospects for a plane that some critics had derided as a white elephant. The multibillion-dollar order last week from Dubai-based Emirates N the largest ever placed for the A380 N ensures that production lines will be humming through the end of 2017 and could represent a boon to more than 80 suppliers in California. Airbus spends about USD1 billion annually buying parts from those suppliers. But some analysts said the order will not help eliminate lingering concerns about the A380's long-term prospects. Not one U.S. carrier has ordered the plane, and in the last three years, Airbus, a subsidiary of European Aeronautic Defense & Space Co., has landed only one new customer. Also, nearly 40 percent of the orders have been placed by a single airline, Emirates. Jun 14, 2010
Emirates Airlines, Airbus Why did Emirates announce its massive A380 order at ILA rather than the higher-profile Farnborough air show next month? That was a question many were asking at an event that has been seen...