Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of AVIC Industry-Finance Holdings Co., Ltd. (AVIC Industry-Finance) at ‘A-‘ and the Short-Term IDR at ‘F1’. Concurrently, Fitch has withdrawn all ratings of AVIC Industry-Finance for commercial reasons. The affirmation reflects AVIC Industry-Finance’s strategic importance to its parent company, Aviation Industry Corporation of China (AVIC),…
ANA Holdings Inc. (ANA HD) has announced its financial results for the six months ending September 30, 2024, reporting a record operating revenue of 1,099.5 billion yen. This milestone reflects a continued recovery in passenger demand, particularly in international markets.
IAT Leasing, an Ireland-based aircraft leasing company, has announced the acquisition of a 2006 Airbus A330-300, which is currently leased to Irish flag carrier Aer Lingus. This transaction was facilitated by Castlelake, a U.S.-based investment firm, on behalf of one of its American investor partners. This acquisition reflects IAT Leasing’s commitment to expanding its fleet…
AerCap, a global leader in aircraft leasing headquartered in Ireland, has announced delays in the delivery schedules of several Boeing and Airbus aircraft due to recent production disruptions. Ongoing labor strikes at Boeing have led AerCap to postpone deliveries of eight Boeing aircraft initially slated for 2024, with their delivery now deferred into 2025 and…
Riyadh Air, the emerging Saudi Arabian airline wholly owned by the Public Investment Fund (PIF), has successfully secured its inaugural Islamic Revolving Credit Facility totaling SAR 5 billion. This financial arrangement comprises a SAR 3 billion revolving credit facility, complemented by a committed accordion option for an additional SAR 2 billion. The one-year, unsecured financing…
Moody’s Investors Service has affirmed the long-term and short-term issuer ratings of Clover Aviation Capital, a prominent Hong Kong-based aircraft leasing company. The ratings, set at Baa3 for long-term and P-3 for short-term, are aligned for both foreign and local currency obligations. The outlook has been revised from stable to positive, signaling potential future upgrades…
Croatia Airlines has reported a net loss of €9 million for the third quarter of 2024, a period traditionally profitable for the carrier. This downturn is primarily attributed to elevated expenses associated with the ongoing transition to a new fleet of Airbus A220 aircraft.
BETA Technologies, a Vermont-based electric aerospace company, has successfully raised $318 million in a Series C funding round. The investment was led by the Qatar Investment Authority (QIA), with significant participation from existing investors, including Fidelity Management & Research Company and TPG Rise Climate. Notably, longtime customer United Therapeutics also joined this round as an…
Alaska Air Group has reported its financial results for the third quarter ending September 30, 2024, showcasing a strong performance that positions the company at the forefront of the airline industry. The company achieved a GAAP pretax margin of 10.7% and earnings per share (EPS) of $1.84. Excluding special items and mark-to-market fuel hedge accounting…
Air Canada has released its financial results for the third quarter of 2024, reporting operating revenues of $6.1 billion, a 4% decrease compared to the same period in 2023. The airline achieved an operating income of $1.04 billion and an adjusted EBITDA of $1.523 billion, reflecting year-over-year declines of $375 million and $307 million, respectively.
