Finance

Warrant Issued for Kingfisher Owner

Sunday, October 14, 2012
By George Hatcher
Warrant Issued for Kingfisher Owner

Kingfisher bounced checks of 105 million rupees (£1.25m) to settle user fees at Hyderabad International Airport. Then the airline failed to appear in court, leading the local sessions court to issue an arrest warrant for Vijay Mallya, owner of Kingfisher Airline. Staff of Kingfisher Airline has not been paid for months. Debts are said... »

PR: $1.3 Million in Grants for Airport Vehicle Surveillance

Saturday, October 6, 2012
By George Hatcher
PR:  $1.3 Million in Grants for Airport Vehicle Surveillance

WASHNIGTON–U.S. Transportation Secretary Ray LaHood today announced $1.3 million in grants for Chicago O’Hare, Denver and San Francisco International Airports to buy vehicle surveillance equipment that will increase safety by helping to reduce the risk of conflicts between airport vehicles and aircraft. “This equipment will help ensure the safety of aircraft passengers and crew,... »

Another New Air India Plan

Tuesday, April 17, 2012
By George Hatcher

Air India owes around Rs.2,000 crore to oil retailers, and faces accumulated losses worth Rs.22,000 crore but is looking at a financial overhaul. Lenders including State Bank of India and 18 other banks will be repaid Rs.10,500 crore in 10-15 years, or through government-guaranteed bonds. The restructured debt is only one part of the... »

Hawker Beechcraft Headed for Bankruptcy

Wednesday, March 28, 2012
By George Hatcher

Centerbridge Partners, Angelo Gordon and Capital Research & Management are negotiating bankruptcy with Hawker Beechcraft. A forbearance agreement expiring in June will probably lead to a chapter 11 which will keep firm in operation. Centerbridge is the biggest lender. The private equity investment firm manages a $3 billion fund focused on distressed-for-control and buyout... »

Kansas Learjet Plant Gets Cash Infusion

Friday, December 16, 2011
By George Hatcher
Kansas Learjet Plant Gets Cash Infusion

Bombardier’s Learjet 85 business jet program is getting an infusion of $6 million in Wichita now that the Kansas Department of Commerce has permitted the use of a 1994 bond money incentive. The exact figure ($52.7 million) is expected to translate into 450 jobs. This is in addition to $2 million in bonds to... »

Fred Flintstone Airlines? No, it’s Air Zimbabwe

Tuesday, May 3, 2011
By George Hatcher
Fred Flintstone Airlines? No, it’s Air Zimbabwe

Like the nineteen year old Yemenia Airlines* Airbus A310-324 that was written up as having passengers with standing room only, unattached seats and an assortment of safety problems that were so bad that the plane was disallowed from flying over European airspace, Air Zimbabwe’s fleet demonstrates how not to run an airline. There are... »

Safekeeping of Passengers Flies or Dies on Banks Due Diligence of Ethiopia Airlines

Wednesday, March 23, 2011
By George Hatcher
Safekeeping of Passengers Flies or Dies on Banks Due Diligence of Ethiopia Airlines

While one should congratulate Ethiopian Airlines for securing a $765 million package deal to finance five 777s, I hope the banks checked more than just their credit history and their relationship with the banks. In terms of technological adulthood, Africa is still in its infancy. The pressure put on even a fairly reputable airline... »

BioJet Receives $1.2 Billion Funding Facility

Tuesday, February 8, 2011
By George Hatcher

RIDGETOWN, Barbados, Feb. 7, 2011 — BioJet International Ltd. (www.biojetcorp.com) announced today that it has received a US $1.2 Billion funding facility from Cayman based Equity Partners Fund SPC. The funding structure is a 3 year facility; further terms of the funding were not disclosed. BioJet is a leading international supply chain integrator in... »

AeroTurbine Signs $425 Million Credit Facility

Tuesday, January 4, 2011
By George Hatcher
AeroTurbine Signs $425 Million Credit Facility

AMSTERDAM, Jan. 4, 2011 — AerCap Holdings N.V. announced today that its subsidiary AeroTurbine signed an amendment to its credit facility. The amendment increases the total commitments available under the credit facility from $328 million to $425 million and allows for additional newer generation aircraft and engine types as eligible collateral under the facility.... »

Bristow Group Inc. Announces $375 Million Credit Facility

Tuesday, November 30, 2010
By George Hatcher

BRS announced today that it has entered into a $375 million senior secured credit facility, replacing the Company’s existing bank credit facilities and providing funds to redeem a portion of Bristow’s senior notes.   The new credit facility includes a five-year, $175 million revolving credit facility and a five-year, $200 million term loan.  The... »

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  • Qantas Flight Makes Emergency Landing in Sydney https://t.co/nCHPM9UtuV
    about 5 hours ago
  • Air Creebec Plane Makes Emergency Landing due to Cracked Windshield https://t.co/hVfxpsxTdo
    about 5 hours ago
  • Azur Air Flight Returns to Moscow due to Cabin Pressurization Problem https://t.co/OfVeAT5YXm
    about 5 hours ago
  • Small Plane Crashes near Buckeye, Arizona; Two Killed https://t.co/bemT3kbKoA
    about 5 hours ago
  • SA light plane crash leaves three dead https://t.co/xQLHmDvpdI via @SkyNewsAust
    about 12 hours ago