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Transport Finance
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Cover Story
Given the shortage of financing for aircraft, bank arrangers are trying to squeeze the maximum out of every funding source, and the Japanese operating lease...
09-May-2012
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First Group names finance head
UK-based rail and coach company FirstGroup has named Chris Surch as finance director, replacing Nick Chevis, who has been serving in the post in ...
16-May-2012
*ACG Acquisition XX LLC v Olympic Airlines
Carol Aitken, senior associate, and Charlotte Winter, of counsel, law firm Norton Rose Executive summary In early May, the English High Court delivered ...
16-May-2012
Management buys Cimber Sterling
Bankrupt Danish airline Cimber Sterling Group has been broken up and sold to its former management and majority owner. Cimber Sterling, which filed for ...
16-May-2012
Thomas Cook names new CFO
UK-based travel and leisure company Thomas Cook has named Michael Healy as its new chief financial officer (CFO). Healy will replace Paul Hollingworth, who ...
15-May-2012
Flybe Nordic eyes Cimber
Flybe Nordic, a joint venture between Finnish flag carrier Finnair and UK-based Flybe, is said to be in negotiations to buy bankrupt Danish low-cost ...
15-May-2012
Capital Product to issue debt
Athens-based tanker owner Capital Product Partners plans to issue USD140 million of Class B convertible preferred units to a group of investors including Kayne ...
15-May-2012
Alaska Air Group promotes Tilden
Brad Tilden, president of Alaska Airlines, has been named as chief executive officer (CEO) of Alaska Air Group and subsidiary carriers Alaska Airlines and ...
15-May-2012
CAI plans to issue senior debt
San Francisco-based intermodal container lessor CAI International intends to issue USD100 million of fixed-rate senior secured notes in a private placement through subsidiary Container ...
15-May-2012
Thomas Cook to lease back
Thomas Cook has agreed a 19-aircraft sale/leaseback transaction that would net the UK-based travel and holiday company GBP183 million (USD294.1 million). The aircraft include...
15-May-2012
ACG closes on revolver
California-based lessor Aviation Capital Group (ACG) has closed on USD650 million of revolving credit facilities to increase liquidity and provide for flexibility in funding ...
15-May-2012
MAS seeks bridge loan
Malaysian Airline System (MAS) is preparing to secure a MYR1.5 billion (USD488.5 million), one-year bridge loan from Malaysian bank CIMB Group. Loan proceeds would...
11-May-2012
THY completes A321-200 finance
Crédit Industriel et Commercial (CIC), ING Capital and NordLB closed an aircraft financing on 26 April for Turkish Airlines (THY). The financing covers an...
11-May-2012
Bmi Regional sold to consortium
International Airlines Group (IAG) has signed a binding agreement to sell bmi Regional to Sector Aviation Holdings Ltd (SAH) for a total consideration of ...
11-May-2012
AviancaTaca tipped for TAP takeover
AviancaTaca Holding, the South American airline controlled by Germany's Efromovich, is among the favoured candidates for a likely takeover of Portuguese national carrier Transportes ...
11-May-2012
US Airways closes leasebacks
Dublin-based lessor Avolon has acquired two A321 aircraft which will be delivered new to US Airways this year. This transaction, in combination with previously ...
09-May-2012
JTF 445 Aircraft orderwatch chart
Carrier Aircraft Number Date expected (comments) ACG B-737max 35 AerCap B-737-800 (LOI) 10 with 5 purchase rights Aeroflot A380 5 By 2015 Aeromexico ERJ-190...
10-May-2012
JTF 445 Shipping bond issuance chart
Date Issuer Arranger Amount ($m) Coupon Due date Status Description Apr-12 Hercules...
10-May-2012
JTF 445 Airline/Lessor bond issuance chart
Date Issuer Arranger Amount ($m) Coupon Due date Status Description May-12 Cathay...
10-May-2012
JTF 445 Shipping dealwatch chart
Date Company Arranger(s) Lender Amount ($m) Vessel(s) Structure Status May-12 Brunei Gas...
10-May-2012
China Southern closes A330 finance
China Southern Airlines closed on 10 May a French lease combined with export credit agency (ECA)-supported financing for one A330-200 (MSN 1309). CA-CIB and...
10-May-2012
JTF 445 Aircraft dealwatch chart
Date Airline Arranger(s) Lender Amount ($m) Aircraft Structure Status May-12 Air France CA-CIB/Deka/Helaba CA-CIB/Deka/Helaba A380 ECA Completed May-12 Lufthansa BNP Paribas BNP Paribas B-747-8...
10-May-2012
JTF 445 Recent orders chart
Date Carrier Aircraft Source Delivery date 30-Apr-12 ALC B-787-9 (x8) Boeing 2017-18 11-Apr-12 Garuda A330-300 (x11) ...
10-May-2012
Delhi subway gets JICA funds
India's Delhi Metro Rail Corporation (DMRC) has received funding from Japan International Co-operation Agency (JICA) after the two parties signed an accord valued at ...
09-May-2012
Private equity to buy Patriot Rail
Private equity firm SteelRiver Infrastructure Partners has agreed to acquire the entire share capital of US shortline and regional operator Patriot Rail. Terms of ...
09-May-2012
Malaysian rail takes Islamic route
Malaysia has hired Maybank Investment Bank, CIMB Investment Bank, RHB Investment Bank and AmInvestment Bank to manage a sale of Islamic bonds (sukuks) to ...
08-May-2012
BOC closes portfolio deal
DVB Merchant Bank Asia has provided a nine aircraft portfolio financing to BOC Aviation. In early May DVB financed one A321 and two ERJ-195s. ...
09-May-2012
Barge operator signs term loan
Indonesian tug and barge operator Maritim Barito Perkasa has secured a USD160 million, seven-year bank loan from a group of 10 banks. Pricing is ...
09-May-2012
Bumi Armada pares offering
Malaysian offshore services company Bumi Armada has pared a 440 million share offering as investors balked at the offering and businessman Ananda Krishnan opted ...
09-May-2012
Navios completes follow-on offer
Drybulk specialist Navios Maritime Partners has completed its follow-on offering of 4.6 million common shares at USD15.68 per share, raising gross proceeds of USD72.1 ...
09-May-2012
*The land of the rising Jolco
Given the shortage of financing for aircraft, bank arrangers are trying to squeeze the maximum out of every funding source, and the Japanese operating ...
09-May-2012
MAS plans Islamic bonds
Malaysian Airline System (MAS) is in the midst of launching up to MYR3 billion (USD982.2 million) of Islamic sukuk bonds to help pay for ...
08-May-2012
Lufthansa names new CFO
German airline Lufthansa has named Simone Menne as chief financial officer (CFO), effective on 1 July. The appointment marks the first time a female ...
08-May-2012
Air India issues RFP
Air India has sent out a request for proposals (RFP) for a USD1 billion facility. The flag carrier wants a one-year maturity with an ...
08-May-2012
Southwest promotes strategic planner
US-based low-cost regional carrier Southwest Airlines has promoted Mike Delehant to the position of vice-president of strategic planning. Delehant joined Southwest in 2002 and...
08-May-2012
Cathay Pacific sells bonds
Hong Kong-based Cathay Pacific Airways sold SGD100 million (USD80 million) of five-year 3.25 per cent notes via DBS Bank on 4 May. This is...
08-May-2012
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