New York (AirGuideBusiness - Aircraft Finance & Leasing News North America) Oct 13, 2013
Air Lease Following Air Lease CorporationOs (AL) investment grade ratings and strengthened credit profile, the company announced today that one of its banks has agreed to revise and improve the terms for approximately $170 million of secured debt related to the financing of six ALC aircraft. Under the terms of the agreement, the bank has agreed to reduce the interest rate, extend the loan maturities and improve the principal amortization profiles of the loans. ALC has also extended two of the leases involved, one Boeing 737-800 and a Boeing 777-200ER, with their respective lessees in Europe. OThe resulting transactions will significantly reduce ALC's interest expenses under these financings, and further add to our net cash flows now through 2020,O said Gregory B. Willis, Senior Vice President and Chief Financial Officer. Oct 7, 2013
Alcoa Aviation helps Alcoa earnings beat expectations. Aluminum producer Alcoa saw positive third-quarter net income after a loss in the same period last year, and reported sales that beat expectations, improvements due in part to the firm's performance in aviation supply. After-tax income in the unit that supplies customers such as Boeing rose 22% to $192 million, Aloca reported when it released earnings after market close Tuesday. Investors reacted positively in pre-market trading, pushing Alcoa shares up more than 3%. Oct 9, 2013
Bell Helicopter Union members are set to ratify new Bell contract. The United Auto Workers Local 218 held a one-day strike in September after an accident at Bell Helicopter's Fort Worth, Texas, facility. The company has reached a tentative agreement with the union; members will hold a vote to ratify the contract on Sunday. Oct 11, 2013
Bell Helicopter Bell chooses Garmin avionics for SLS helicopters. Bell Helicopter's new Short Light Single will be equipped with the Garmin G1000H avionics suite, integrated with the full-authority digital engine control system of the aircraft's Turbomeca Arrius 2R engine. The SLS is meant to be a successor to the Model 206 JetRanger that can compete with the Robinson R66; Bell is aiming for a first production flight in 2014. Oct 11, 2013
Bell Helicopter First Bell 407GX is set to land in Turkey . Bell Helicopter sold its first 407GX helicopter to a Turkish company at the Monaco Yacht Show recently. Saran Aviation plans to use the aircraft for corporate transport. "The sale of the first Bell 407GX in Turkey represents the continued growth of Bell Helicopter's commercial business in Europe across all segments. We have significantly expanded our presence in Turkey with the sale of more than 24 aircraft in the last two years," said Patrick Moulay, Bell's European managing director. Oct 9, 2013
Boeing Boeing reboots marketing strategy for commercial planes . Boeing is revamping its commercial aircraft marketing strategy after it lost a $9.5 billion order from Japan Airlines to rival Airbus. "You probably wouldn't have seen this...