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Sun Country Airlines Secures $60 Million EETC C-Tranche to Reduce Debt

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Sun Country Airlines has strengthened its financial position by raising $60 million through a new C-tranche appended to its 2019-1 Enhanced Equipment Trust Certificate (EETC). The airline used the full amount to pay down a significant portion of its term loan, which was financing five Boeing 737-900ER aircraft. This move reflects the airline’s strategy of optimizing its capital structure, reducing long-term debt obligations,…

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Global Crossing Airlines Announces Preliminary Fourth Quarter and Fiscal Year 2024 Financial Results

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Global Crossing Airlines has released its preliminary financial projections for the fourth quarter and fiscal year ending December 31, 2024. The company anticipates Q4 2024 revenue to be between $55 million and $61 million, with an EBITDA ranging from $2 million to $5 million.

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Fitch Ratings Assigns Expected Ratings to Castlelake Aircraft Structured Trust 2025-1 Notes

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Fitch Ratings has assigned the following expected ratings to the notes issued by Castlelake Aircraft Structured Trust 2025-1: These notes are secured by lease payments and disposition proceeds from a pool of 36 passenger aircraft operated by various third-party lessees. The assigned ratings reflect Fitch’s assessment of the credit quality of the underlying lessees, the diversification and age of…

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Chorus Aviation Completes Repurchase of Senior Unsecured Debentures

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Chorus Aviation, a Canadian aviation company, has announced the successful completion of its previously announced offers to purchase all outstanding 6.00% Convertible Senior Unsecured Debentures due June 30, 2026, and 5.75% Senior Unsecured Debentures due December 31, 2024. The total repurchase amounts to approximately US$55.9 million.

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ANA Holdings Reports Financial Results for Nine Months Ending December 31, 2023

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ANA Holdings, Japan’s largest airline group, has announced its financial results for the nine-month period ending December 31, 2023. The company reported a 10% increase in revenue, reaching $10.9 billion, while net income experienced a slight decline, totaling $863 million.

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Air Mauritius Seeks Urgent Equity Injection for Financial Stability

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Air Mauritius, facing ongoing financial difficulties, is in urgent need of an equity cash injection, according to its newly appointed chairman, Kremchand Beegoo. The airline is actively working to assess its financial standing, restructure its ownership model, and convince shareholders to support its recovery.

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Jazeera Airways Reports Significant Profit Increase in 2024

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Jazeera Airways, Kuwait’s leading low-cost carrier, has reported a substantial increase in its financial performance for the year 2024. The airline achieved a net profit of US$33.1 million, marking a 66.2% rise compared to the previous year. Operating revenue also saw an uptick, growing by 5.3% to reach US$677.7 million.

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Triumph Group to Be Acquired by Warburg Pincus and Berkshire Partners in $3 Billion Deal

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Triumph Group, a leading aerospace and defense systems and components company, has announced a definitive agreement to be acquired by affiliates of Warburg Pincus and Berkshire Partners. The transaction is valued at approximately $3 billion and will result in Triumph becoming a privately held company.