Air Lease Corporation Announces Delivery of New Airbus A320-200neo Aircraft to Atlantic Airways
Air Lease Corporation announced the delivery of one new Airbus A320-200neo aircraft on long-term lease to Atlantic Airways, the national carrier of the Faroe Islands. Powered by CFM International LEAP-1A26 engines, this aircraft is the second of two A320-200neos that delivered to the airline from ALC’s order book with Airbus. Executive Vice President of Air Lease Corporation Grant Levy said “We are pleased to announce this second A320-200neo delivery to Atlantic Airways. ALC introduced the A320-200neo to Atlantic Airways’ fleet last year and it has greatly enhanced the passenger experience and overall operations of the airline. We are confident that this second A320neo from ALC will continue to support the national carrier’s excellent operations.”
Air Lease Corporation Announces Pricing of Public Offering of $850 Million of Senior Unsecured Medium-Term Notes
Air Lease Corporation announced the pricing on 17 June of its public offering of $850.0 million aggregate principal amount of 3.375% senior unsecured medium-term notes due 1st July 2025 . The sale of the Notes is expected to close on June 24, 2020, subject to satisfaction of customary closing conditions. The Notes will mature on July 1, 2025 and will bear interest at a rate of 3.375% per annum, payable semi-annually in arrears on January 1 and July 1 of each year, commencing on January 1, 2021. The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.
Alaris Aerospace to wrap up nine aircraft teardowns by end of Q2
Alaris Aerospace Systems (Alaris) announced that it is scheduled to complete disassembly of the following nine airframes in facilities across the US and UK by the end of Q2. Bikram Jaswal, President and CEO said “This is a testament to our strength and position in the industry. A diverse portfolio of airframe inventory will enable us to engage with additional end-users and improve our business with existing customers. We are very well-positioned as a company to weather this pandemic and will be ready with the most popular inventory as we come out of this.”
American Airlines Announces Proposed Offering of Senior Secured Notes and New Term Loan
American Airlines announced a proposed private offering of $1.5 billion aggregate principal amount of secured senior notes due 2025. The Notes will be guaranteed on a senior unsecured basis by American Airlines Group Inc. The Company also announced it intends to enter into a new $500 million Term Loan B Facility due 2024 concurrently with the closing of the offering of the Notes. The Company expects to use a portion of the net proceeds from the offering of the Notes and borrowings under the Term Loan to refinance its delayed draw term loan facility which the Company and the Guarantor entered into on March 18, 2020 and is scheduled to mature on March 17, 2021, with the remainder for general corporate purposes and to enhance the Company’s liquidity position.
Aviation Capital Group Announces Financing of Six Boeing 737-800 Aircraft for Southwest Airlines
Aviation Capital Group LLC (ACG) announced that it structured and provided the secured financing of six Boeing 737-800 aircraft for Southwest Airlines (Southwest).This financing marks the first use by ACG’s Aircraft Financing Solutions (AFS) program of its recently closed $650 million secured funding facility. The facility includes an accordion option that can be exercised to provide up to $1 billion in total commitments.
JetBlue Will Add 30 New Routes, Launch Mint® at Newark
JetBlue announced it is adding 30 new domestic routes to serve customers in markets where leisure and VFR (visiting friends and relatives) travel is showing some signs of strength. With business travel facing a less certain recovery timeline, the new routes offer JetBlue the opportunity to generate revenue, bring aircraft back into service that would otherwise sit idle, and add more flying opportunities for JetBlue crewmembers. Head of revenue and planning JetBlue Scott Laurence said “Coronavirus has transformed airline route maps, and as we begin to see small signs of recovery, we continue to be flexible with our network plans to respond to demand trends and generate cash in support of our business. We’ve selected routes where customers are showing some interest in travel again and where our low fares and award-winning experience will be noticed.”
Swoop Seeks Airport Partners to Lead Economic Recovery
Swoop issued a ‘Request for Proposal’ (RFP) seeking strategic airport partners in North and Central America and the Caribbean. The airline is interested in hearing from airports who share an entrepreneurial, consumer-driven mindset to collaborate with the ULCC to stimulate travel and support economic recovery. “We believe the key to recovery lies in strategic collaboration, creativity and innovation to get travellers moving back through airports and into the skies,” said Charles Duncan, President, Swoop. “We are encouraged by early signs of recovering demand for ultra-low fares and are eager to collaborate with airports across the region to re-think how we, as an industry, approach affordable and accessible air travel.”
Acumen Aviation © 22 June 2020 All Rights Reserved.