American Airlines Group Announces Proposed Offering of Unsecured Senior Notes
American Airlines Group Inc announced a proposed private offering of $500.0 million aggregate principal amount of unsecured senior notes due 2025. The Company intends to use the net proceeds from the offering to fund contributions to its pension plans.
GE Aviation launches HPT durability upgrade program for CF34-8 Engines
BeauTech and Sky Regional Airlines are the launch customers for GE Aviation’s new CF34-8 HPT (high pressure turbine) durability upgrade program for its CF34-8 engines to improve fleet stability, time on wing and engine’s cost of ownership. The HPT durability upgrade program is available to all CF34-8 operators, regardless of their maintenance, repair and overhaul provider. Under the CF34-8 HPT durability upgrade program, GE Aviation will provide customers with upgraded parts that can be incorporated into the engine during its next overhaul. These parts are listed in a series of Service Bulletins that GE issued and include components in the fan, compressor, combustor and HPT modules.
GoJet Airlines Expands CRJ-550 Program with United Airlines, Adds 20 More Aircraft
GoJet Airlines announced it is expanding its fleet of Bombardier CRJ-550 aircraft with the addition of 20 new aircraft. The announcement follows GoJet’s 10-year agreement to operate 54 CRJ-550 aircraft for United Airlines and will bring GoJet’s total CRJ-550 fleet count to 74 by 2021. GoJet and United Airlines launched the first CRJ-550 service from United’s Chicago O’Hare hub in October 2019 and recently began operating CRJ-550 service from its hub at New York/Newark. This summer, the airline will begin operating CRJ-550 aircraft from its Washington Dulles hub.
United Airlines Enters Codeshare with Vistara
United Airlines has entered into a codeshare agreement with Vistara, the full-service Indian airline, to expand travel options for customers. In addition to providing access to 68 Vistara-operated flights to 26 destinations throughout India, the codeshare also allows MileagePlus and Vistara’s loyalty program members to earn and redeem miles when flying on either of the airline’s route network, commencing 28 February. Vistara’s Chief Commercial Officer Vinod Kannan said “The U.S. continues to be one of the biggest source markets for foreign travellers into India and the region, and this partnership allows us to provide a seamless travel offering for customers to and from the U.S.”
WestJet announces internal appointments to its Finance team
WestJet announced the internal appointments of Sarah Walker to the role of Vice-President, Financial Planning and Analysis and Jennifer Bue to the role of Vice-President, Controller. Reporting to Harry Taylor, WestJet EVP, Finance & Chief Financial Officer, both positions will support execution of the airline’s business and financial strategy as well as contribute to the delivery of the financial aspirations of the company. “We are thrilled to announce these internal appointments to WestJet’s Finance team,” said Harry Taylor. “Both Sarah and Jenn have a wealth of knowledge and experience that will continue to benefit our team through this exciting period of growth as we expand our global reach.”
Willis Lease Finance Commits to Offering of $366.2 Million in Fixed Rate Notes
Willis Lease Finance Corporation announced that its wholly-owned subsidiary Willis Engine Securitization Trust II, to be renamed Willis Engine Structured Trust Vhas priced $366.2 million in aggregate principal amount of fixed rate notes. As previously announced, the Notes will be issued in three series, with the Series A Notes to be issued in an aggregate principal amount of $303.0 million, the Series B Notes in an aggregate principal amount of $42.1 million and the Series C Notes in an aggregate principal amount of $21.1 million. The Notes will be secured by, among other things, WEST’s direct and indirect interests in a portfolio of 54 aircraft engines and three airframes. The planned closing date is March 3, 2020.
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