Cargo ground handler Swissport bagged €300 million of committed interim financing from an ad hoc group of senior secured creditors, which will top-up on its current liquidity position of more than €200 million as of 18 August, a press release confirmed. Swissport says this will give them ample headroom to trade and execute operational plans through the Covid-19 pandemic as well as take advantage of growth opportunities post-crisis, strengthening its position in the passenger services and air … [Read more...] about Swissport nabs €300 million financing, shakes on restructuring deal ‘in principle’
HNA Group
Nepal Airlines courting Middle East carriers, could sell 51% stake
Nepal Airlines said it has held informal talks with a Middle East airline after the Nepalese government mandated it to find a “strategic partner,” its managing director said earlier this week. The state-owned carrier is in the midst of a turnaround, having recently brought in two A320 narrow body aircraft and with plans to bring in two A330 wide-bodies as it phases out its sole B757. Nepal Airlines currently operates two A320-200s, one B757-200, two DHC-6-300s, one MA-60 and one Y12 on … [Read more...] about Nepal Airlines courting Middle East carriers, could sell 51% stake
Virgin Australia shareholders become strange bedfellows
Chinese companies have upped their stake in Virgin Australia Holdings as a second mainland conglomerate bought a stake in the carrier. The Nanshan Group will buy about 20 per cent of Australia’s second-largest airline from Air New Zealand, the Auckland-based carrier said in a statement recently. Nanshan’s assets stretch from aluminium to property and include the two-year-old Qingdao Airlines. HNA Group, the owner of Hainan Airlines, last month said it plans to buy 13 per cent of Virgin … [Read more...] about Virgin Australia shareholders become strange bedfellows
Hainan Airlines makes maiden UK flight
China’s Hainan Airlines has touched down in the UK for the first time, following the launch of a new four times weekly service to Manchester. The new Beijing-Manchester route marks Hainan Airlines’ first flight to the UK and the inaugural flight on 10 June saw the A330-300 sporting a special 'Hai Manchester’ livery. … [Read more...] about Hainan Airlines makes maiden UK flight
Bohai Leasing completes acquisition of Avolon Holdings
Bohai Leasing has announced the completion of its acquisition of Avolon Holdings, the Ireland-based international aircraft leasing company. As a wholly-owned subsidiary of Bohai, Avolon will be combined with Bohai’s existing aircraft leasing businesses to form the world’s fourth largest aircraft leasing firm inclusive of orders. In completing the acquisition Bohai is taking a large step towards its goal to rank among the top three aircraft leasing companies in the world. “The Avolon team has … [Read more...] about Bohai Leasing completes acquisition of Avolon Holdings
China’s HNA takes 23.7% stake in Brazil’s Azul Airlines
China’s HNA Group Company Limited and Azul Brazilian Airlines recently announced a new strategic partnership where the HNA Group will acquire a 23.7 per cent stake in Azul, Brazil’s third largest airline, aiming to benefit from substantial passenger traffic between China and Brazil, which are strong global trade partners. HNA Group will assume the role of single largest shareholder of Azul, and will appoint new members to the board of directors. Through the partnership, the companies will … [Read more...] about China’s HNA takes 23.7% stake in Brazil’s Azul Airlines
