AirAsia Group has disclosed that it extended approximately $40 million in advances and corporate guarantees to Philippines AirAsia in November-December. AirAsia Group has disclosed that it extended approximately $40 million in advances and corporate guarantees to Philippines AirAsia in November-December. The low-cost airline group on 19 November provided a $19.1 million corporate guarantee to Filipino bank BDO Unibank. This was in relation to the restructuring of a three-year, $35 million loan to Philippines AirAsia, the group says...Continue Reading
China Aircraft Leasing (CALC) expects its net profit attributable to shareholders for 2020 to be down 60-65% on 2019 due to a loss on an investment in an Indonesian airline as well as an exchange-rate loss. China Aircraft Leasing (CALC) expects its net profit attributable to shareholders for 2020 to be down 60-65% on 2019 due to a loss on an investment in an Indonesian airline as well as an...Continue Reading
The final lessor creditor under Malaysia Airlines’ scheme of arrangement has given consent to that scheme as well as the carrier’s wider restructuring after previously facing challenges getting approval from its financiers. Justice Richard Snowdon, a judge at the High Court of England and Wales, said in a judgement dated 23 February that he received evidence that one creditor which did not vote at a 10 February meeting has now...Continue Reading
Investigators probing an abrupt manoeuvre by an American Airlines Boeing 757-200 have indicated that the crew suddenly pitched the aircraft nose-down after realising the airspeed had unexpectedly bled away. The aircraft had been approaching New York JFK on 6 September 2018, following a service from Edinburgh. As the aircraft neared its cleared level of 12,000ft its ‘altitude hold’ mode engaged. The captain then activated the ‘flight level change’ mode ahead...Continue Reading
Russian budget carrier Pobeda is to open services from a second Moscow base, operating from the capital’s Sheremetyevo airport. Pobeda is part of Aeroflot Group alongside Aeroflot and Rossiya. Moscow Sheremetyevo is Aeroflot’s main base. The expansion will involve Pobeda’s opening services to 12 cities in Russia, as well as the Turkish resort of Antalya. Aeroflot Group has embarked on a strategic development plan which involves restructuring the route network...Continue Reading
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