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.
Avia Solutions Group (Ireland) has reported impressive financial results for Q3 2024, with revenues rising 25% year-over-year to $2.1 billion. The company’s net profit also saw a significant increase, climbing more than 15% to $87.3 million.
Spirit Airlines (US) is expected to have its Cayman Islands subsidiaries file for bankruptcy as part of the parent company’s ongoing Chapter 11 case. The four units, which own specific intellectual property (IP), will join the restructuring process to streamline the airline’s financial and operational strategies.
Volofin Capital Management (UK) has announced the successful structuring and closing of a spares inventory financing facility for Virgin Atlantic (UK). The facility, valued at up to $100 million, will support Virgin Atlantic in managing and optimizing its aircraft spare parts inventory.
Spirit Airlines (US) has reported its financial results for 3Q 2024, showing a mixed performance. While total operating revenues stood at $1.1 billion, marking a slight year-over-year decrease, the airline faced a significant net loss of $308 million, which nearly doubled compared to the same quarter in the previous year.
Fitch Ratings (US) has announced that the Chapter 11 bankruptcy filing of Spirit Airlines (US) will not have a material impact on Aircraft Lease ABS (Asset-Backed Securities). The credit rating agency attributes this stability to the limited exposure of ABS pools to aircraft leased by Spirit Airlines.
Esas Holding (Türkiye) has completed the transaction of selling 19.2 million shares in Pegasus Airlines to international investors. The shares represent a 3.85% stake in the carrier, reducing Esas Holding’s ownership to 52.8%.
Vietnam Airlines is seeking to bolster its financial standing through a proposed share issuance plan aimed at raising capital from existing shareholders. Lawmakers in Vietnam are currently evaluating options to facilitate this initiative, which could significantly strengthen the national carrier’s fiscal resilience and operational capabilities.
Airbus has announced the launch of the second tranche of its share buyback program, underscoring its commitment to returning value to shareholders. This tranche involves the repurchase of up to 2,127,000 shares, representing a significant step in the company’s broader financial strategy.
Itasca MGA (UK) has announced its role in providing insurance backing to Elevate Capital Partners (US) for a financing solution involving two E195-E2 aircraft. This partnership underscores the importance of comprehensive insurance solutions in enabling complex aviation financing arrangements.
