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.
Legend Airlines, a Romanian-based carrier, has been granted a foreign air carrier permit by the US Department of Transportation (DOT). This approval enables the airline to operate flights between the European Union (EU) and the United States, marking a significant milestone in the airline’s expansion plans.
Spirit AeroSystems Holdings, a leading U.S.-based manufacturer in the aerospace sector, has announced a purchase agreement to sell its subsidiary Fiber Materials to Tex-Tech Industries. The deal is valued at $165 million in cash, subject to customary adjustments.
BETA Technologies, a US-based developer of electric aviation solutions, has achieved a significant milestone with the successful first flight of the production version of its ALIA eCTOL (electric Conventional Takeoff and Landing aircraft). This accomplishment underscores BETA’s progress in advancing sustainable aviation technology and paves the way for commercial deployment of the ALIA platform.
Aircraft Engine Lease Finance (AELF), a US-based leasing company, has successfully completed the financing of a Boeing 737-800 in partnership with Nedbank CIB, a prominent South African financial institution. This transaction highlights AELF’s strategic focus on expanding its leasing portfolio while leveraging global partnerships to support aviation operations worldwide.
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…
StandardAero, a leading aerospace maintenance and repair organization (MRO) based in the US, has reported a 13.2% year-over-year increase in revenue for the third quarter (Q3) of 2024, reaching $1.24 billion. The company also posted a net income of $16.4 million, reflecting its ability to sustain profitability while managing operational growth. Capital expenditures (CapEx) during the quarter amounted to $25.3 million, while cash reserves…
Electra, a US-based aerospace company, has unveiled the design of its EL9 Ultra Short hybrid-electric aircraft. This innovative nine-passenger piloted aircraft is designed to offer exceptional efficiency and versatility in short-haul operations, marking a significant milestone in sustainable aviation. With the design phase complete, the EL9 now moves into its development phase, bringing Electra closer to delivering its vision of…
Aero Controls (US) has announced an expansion in responsibilities for Scott Carpenter, currently the Director of Business Development for North America. In his new, broadened role, Carpenter will now oversee international customer relationships, enhancing Aero Controls’ global market reach and service adaptability. Carpenter’s expertise in business development has been pivotal to Aero Controls’ growth in North America, making him a…
