Tag: Leasing (Page 4 of 4)

Avianca Brazil Gives Up 18 Planes, Cancels 1,045 Flights

April 22, 2019 / WIL BALDWIN

RIO DE JANEIRO (AP) — Avianca Brasil canceled more than 1,045 domestic flights this week because it has to return 18 aircraft to leasing agencies.

Brazil’s National Aviation Agency said the planes needed to be returned Monday to avoid affecting Holy Week holiday passengers. Customers can either get refunds for canceled flights or rebook through partner airlines.

Avianca Brasil declined to say how many planes it has left. But the G1 news portal reports that the airline has just seven planes still in its fleet.

On April 1, the airline canceled several international routes from Sao Paulo to New York, Miami and Santiago, Chile.

Avianca Brasil filed for bankruptcy in December after failing to pay leases on its aircraft. The airline, formerly known as Ocean Air, has licensed the name Avianca since 2010 from Colombian carrier Avianca Holdings SA. They are separate companies with the same owners: brothers German and Jose Efromovich. The latter is being investigated for allegedly failing to pay airport fees in Salvador airport in northeastern Brazil.

A company representative from Avianca’s headquarters in Colombia stressed that the Brazilian company is independent from Avianca Holdings group, both operationally and financially. The company said in a statement that flights operated by Avianca Holdings SA from hubs in Bogota and Lima, Peru, to destinations in Brazil will not be affected by the Avianca Brasil cancellations.

Airbus A320 Neo of Avianca at GRU Airport – Guarulhos International Airport, Sao Paulo, Brazil – 2017

Sukhoi Delivers Ninth SSJ100 to Azimut Airlines

April 16, 2019 / WIL BALDWIN

On April 12, 2019, Azimut Airlines recieved its ninth SSJ100 according to the terms of the Agreement with State Transport Leasing Company. The aircraft, tail number RA–89136 performed its ferry flight from the SCAC Delivery Center in Zhukovsky to Krasnodar where the aircraft will start operations.

The aircraft is equipped with 100-seated layout. The layout might be changed from single-class to two-class layout for 93 passengers, depending on the actual needs of the Operator.

Azimuth Airline gives you the opportunity to take flights at affordable prices. Journey in the new Sukhoi Superjet 100 airplane integrating the best solutions of modern aircraft construction will allow feeling the advantage of comfortable cabins which are highly competitive with the cabins of high capacity long-haul airplanes.

Jet Airways Planes To Be Redeployed If Restructuring Fails

March 8, 2019 / WIL BALDWIN

* FLY Leasing has grounded 3 Boeing 737s

* Jet Airways says 28 planes grounded for non-payment of dues

* Lenders, Etihad yet to approve restructure (Adds graphic)

SINGAPORE, March 8 (Reuters) – FLY Leasing Ltd has grounded three planes on lease to India’s Jet Airways Ltd and will take them back and redeploy them elsewhere if the airline cannot gain approvals for a restructuring plan this month, the lessor’s CEO said.

Jet Airways on Thursday said another three aircraft had been grounded due to its failure to make payments, taking the total number to 28, but it has not specified the lessors involved.

The grounding of nearly one-quarter of the airline’s fleet has led to the cancellation of hundreds of flights and complaints from customers on social media.

Several major global aircraft leasing companies, including AerCap Holdings NV and BOC Aviation have exposure to the financially troubled airline, which has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.

“We have grounded our aircraft, we have control over our aircraft, but we have not terminated the leases and we are waiting for the airline to approve all its restructuring with the State Bank of India,” FLY Leasing CEO Colm Barrington told analysts on a results call on Thursday.

“If that goes through at the end of the month, obviously, we will stay with Jet. If they can’t get that done, then we’ll take our aircraft back and redeploy.”

The airline had three relatively young Boeing Co 737-800s on lease to Jet Airways, which accounted for around 3 percent of FLY Leasing’s revenue, he said.

Jet Airways has outlined a draft to sell a majority stake to a consortium led by the State Bank of India at 1 rupee, under regulations that permit banks to convert debt to equity in a defaulting firm.

The stake sale will be followed by an equity raising, debt restructuring and the sale and leaseback of jets to help plug a $1.2 billion funding gap, but the plan needs approvals from several stakeholders, including major shareholder Etihad Airways.

(Reporting by Jamie Freed in Singapore; Additional reporting by Chandini Monnappa in Bengaluru; Editing by Stephen Coates)

Boeing Profit Beats; Targets 900 Plane Deliveries in 2019

January 30, 2019 / WIL BALDWIN

(Reuters) – Boeing Co topped expectations with both quarterly profit and its forecast for 2019 cash flow on Wednesday, as a boom in air travel underpinned a prediction for full-year deliveries of around 900 commercial airplanes.

The company said it expects to deliver between 895 and 905 commercial aircraft in 2019, up from the 806 units it delivered last year, which kept it ahead of rival Airbus as the world’s biggest planemaker for the seventh straight year.

Boeing’s shares rose 6.4 percent to $388.25 in early trading in response, helping lift the U.S. stock futures.

Investors closely watch the number of planes Boeing turns over to airlines and leasing firms in a year for hints on the company’s cash flow and revenue.

The company forecast operating cash flow between $17 billion (13 billion pounds) and $17.5 billion in 2019, compared with cash flow of $15.32 billion in 2018, and above analysts’ average estimate of $16.73 billion, according to IBES data from Refinitiv.

It expected 2019 core earnings between $19.90 per share and $20.10 per share, and revenue between $109.5 billion and $111.5 billion.

Those numbers indicate that the fuselage and engine delays at suppliers that dominated last year are largely behind Boeing.

Boeing’s core earnings rose to $5.48 per share in the fourth quarter ended Dec. 31, from $5.07 per share a year earlier, and came in above Wall Street’s estimate of $4.57 per share.

Quarterly revenue rose 14.4 percent to $28.34 billion, above analysts’ average expectation of $26.87 billion.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)

Image from http://www.boeing.com

China’s ICBC Firms Up Order for 80 Airbus Jets

January 7, 2019 / WIL BALDWIN

PARIS (Reuters) – China’s ICBC Financial Leasing has firmed up an order for 80 Airbus (AIR.PA) A320-family jets worth $8.8 billion (£6.9 billion) at list prices, industry sources said on Monday.

The move is part of a buying spree from Asian lessors in the final hours of 2018 as Japanese-owned SMBC Aviation reached agreement for some 65 Airbus jets and Hong Kong-based China Aircraft Leasing (CALC) ordered 50 737 MAX from Boeing (BA.N).

Airbus declined comment. ICBC was not immediately available for comment.

(Reporting by Tim Hepher; Editing by Sudip Kar-Gupta)

Image from http://cn.linkedin.com

Avianca Brazil Gives Up 18 Planes, Cancels 1,045 Flights

Sukhoi Delivers Ninth SSJ100 to Azimut Airlines

Jet Airways Planes To Be Redeployed If Restructuring Fails

Boeing Profit Beats; Targets 900 Plane Deliveries in 2019

China’s ICBC Firms Up Order for 80 Airbus Jets

Archives