El Al (Israel) has secured a $120 million loan from a financing consortium led by Hapoalim (Israel) to fund the purchase of its 17th Boeing 787. This financing milestone reflects El Al’s continued commitment to modernizing its fleet with advanced and fuel-efficient aircraft.
China Eastern Airlines has announced the successful raising of $691 million in perpetual debt financing from its controlling shareholder, China Eastern Airlines Group Co. The debt carries an annual interest rate of 2.20%, providing the airline with a flexible financial instrument to support its operations and growth initiatives.
Fitch Ratings, a leading credit rating agency, has downgraded Spirit Airlines’ (US) Long-Term Issuer Default Rating (IDR) to ‘D’ from ‘CC’, indicating default status. The downgrade reflects Spirit Airlines’ financial challenges following its Chapter 11 bankruptcy filing.
Spirit Airlines, a prominent U.S.-based carrier, has announced a restructuring support agreement (RSA) as part of a comprehensive plan to strengthen its balance sheet and streamline operations. The agreement has received backing from a supermajority of Spirit’s loyalty and convertible bondholders, paving the way for significant financial restructuring.
Thai Airways International has commenced the Voluntary Debt-to-Equity Conversion period for its creditors, effective November 18, 2024. This initiative is a pivotal component of the airline’s ongoing business rehabilitation plan, aiming to strengthen its financial structure and enhance operational stability.
Fitch Ratings has downgraded the long-term credit rating of Spirit Airlines from ‘CCC’ to ‘CC’, signaling heightened financial distress and the likelihood of a near-term default. This latest downgrade places Spirit Airlines below other low-cost carriers (LCCs) in North America, reflecting concerns about the airline’s financial stability.
Wheels Up Experience, a US-based private aviation company, has closed a new $332 million revolving equipment notes facility with Bank of America, supported by credit backing from Delta Air Lines. This financing initiative provides Wheels Up with increased liquidity to support its operations and fleet expansion plans. Alongside this development, Wheels Up has completed the acquisition of a fleet…
Surf Air Mobility, a leading US-based regional air mobility company, has announced the successful closing and fundingof a new Senior Secured Term Loan provided by Comvest Partners. The facility includes a fully funded $44.5 million term loan, along with a $5.5 million delayed draw term loan earmarked for interest payments during the first 18 months. This financing is expected to bolster Surf…
AerDragon, a China-based aircraft leasing company, has signed a Memorandum of Understanding (MOU) with the Export-Import Bank of China to collaborate on aircraft financing. This agreement underscores both organizations’ commitment to strengthening China’s aviation sector, providing AerDragon with the financial support needed to expand its fleet and enhance leasing services for domestic and international carriers. The MOU highlights China’s ongoing…
Spirit AeroSystems, based in the United States, has announced the signing of a Second Amended and Restated Memorandum of Agreement with Airbus. Under this revised agreement, Airbus will extend a $107 million non-interest-bearing line of credit to Spirit AeroSystems, aimed at enhancing Spirit’s operational flexibility and supporting its production commitments. This financial arrangement underscores the close partnership between Airbus and…
