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December
Southwest Airlines has closed sale and leasebacks on five 737-700s with an unnamed aircraft leasing company and will sell another five 737s to the same lessor in 2009.
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November
The airfinance market, particularly banks and airlines, has been frustrated about Airbus's claw-back clause on predelivery payments. There might be a solution in sight, by Sophie Segal.
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Maybe history will not repeat itself. Adam Pilarski puts the case for fluctuating oil prices and their impact on aviation.
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Aviation funds are becoming important sources of alternative financing. Will Roberts looks at some of the big hitters.
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The mood at Airfinance Journal's annual conference in Dubai was surprisingly upbeat. Will Roberts reports.
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October
With markets in turmoil, Airfinance Journal spoke to two leading aircraft finance banks.
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Janet Du Chenne finds out about a changing market from some of its leading players.
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Export credits might be one ray of sunshine through the big cloud that hangs over the financing market.
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The last wave of major restructurings has happened in the US. The next could be more global. Sophie Segal reports.
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A $1.5 billion order for 110 aircraft shows that Jet Republic means business despite the credit crunch.
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The light jet manufacturer is moving into new territory. By Will Roberts.
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June
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The Middle Eastern aviation industry is gradually growing into the most powerful in the world, with its two leading carriers crucial to that shift. Will Roberts reports from Dubai and Abu Dhabi.
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May
Janet Du Chenne talks to Kassim Geresu, executive vice-president, finance and strategic planning, Ethiopian Airlines, about the carrier's winning formula.
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Will Roberts analyses how lessors in the Middle East are affected by liquidity issues in the West.
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As airlines struggle to cope with the increasing price of fuel and a softening economy, Sophie Segal finds out how they plan to cut costs.
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As jetBlue founder David Neeleman prepares to launch a low-cost service in Brazil, Sophie Segal looks at how conducive the model is to the market.
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As customer unrest grows, Geoff Hearn analyses delays to the 787 and how this is impacting other aircraft values.
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Can the low-cost carrier model work in China? Yong Qiu finds out from Wang Zhenghua, chairman of Spring Airlines, the country's only LCC
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Mergers rarely solve problems, writes Adam Pilarksi
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April
Low-cost carriers have put the skids under the charter market, leading to some tough decisions.
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India's aviation market has great potential not only for the country's domestic airlines but also for the industry worldwide. Will Roberts reports.
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With the repayment of its loans due soon, the future of Allco Finance Group is in doubt, although the firm is confident its aviation fleet will survive. By Janet Du Chenne and Will Roberts.
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Banks say that they are planning to increase lending but also believe lessors will struggle. This is because they divide lessors up in to four main groups. By Sophie Segal and Alasdair Whyte.
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The aviation cycle is turning and the sell side is getting tough with its customers. Airlines can no longer use fuel and 9/11 as reasons for underperformance. These were probably the most critical points to emerge from the Istat annual conference. In fact, anyone who expected a grave assessment of the market would have had to look a little further than this event.
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The continued rise in commercial aircraft deliveries is good news for the maintenance, repair and overhaul (MRO) market. Geoff Hearn looks at how the suppliers are faring and the implications for financiers.
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It is no comfort to the bank's employees and shareholders but few airlines will mourn the loss of Bear Stearns. Out of all the major US investment banks it was the least active in aircraft finance. Apart from lending to Aircastle (largely because it was a relationship bank of Fortress Investment Group) and a $1.3 billion repacking of US Airways EETC paper in 2003, it is hard to remember any significant debt deals that the bank participated in.
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Finnair has ordered an extra three Embraer 190 aircraft. The first will be delivered in 2010. The value of the order is $112.5 million.
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A new Brazilian airline, being set up by jetBlue founder David Neelman, has ordered 36 Embraer 195 jets, and could grow to 76 aircraft. The agreement includes options for another 20 aircraft and purchase rights for a further 20. The total value of the order, at list price, is $1.4 billion, and could reach $3 billion if all of the options and rights of purchase are confirmed.
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Douglas Abbey has joined Seabury Group as senior vice-president. Abbey has 30 years' experience in the aviation industry, specifically in regional aviation and US route-development strategies. He was previously managing partner of the Velocity Group and, before that, president of AvStat Associates.
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Austrian Airlines has reorganized the responsibilities for the carrier's financial management. Heinz Lachinger, executive vice-president controlling and accounting has been appointed corporate finance officer. He will support Alfred Otsch, the chief executive officer. Lachinger's areas of responsibility will include accounting, controlling, asset management, and opportunity and risk management.
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IBA Group has appointed two new advisers. Alan Godson joins the company as technical consultant, aircraft and systems. He will assist the appraiser with asset management. Before joining IBA, Godson worked in the leasing sector and held positions as a technical engineer and a fleet manager.
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Australia's Investec Bank has entered the aircraft leasing business with the launch of the Investec Global Aircraft Fund. The diversified fund will seek to tap into forecast strong long-term global growth in commercial travel, and aims to generate consistent returns for investors.
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British Airways has increased its stake in Spanish flag carrier Iberia to 13.5% after paying ?67.3 million ($105.3 million) for 28.7 million Iberia shares, at an average of ?2.34 per share.
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Italian national airline Alitalia has accepted a takeover bid from the Air France-KLM Group.
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GE Aviation has signed a $750 million engine maintenance and overhaul agreement with Colombian flag carrier Avianca. The 15-year agreement will have GE Aviation servicing the CFM56-5B engines that power the airline's fleet of 50 A319 and A320 aircraft. GE and Snecma manufacture the engines through a joint venture. The maintenance and overhaul work will be carried out at GE's Celma facility at Petropolis, Brazil.
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Bids to finance four A380s and five 737-300 aircraft for Qantas Airways were due at the time of going to press. The delivery date for the first A380 is August 2008, with the remaining aircraft delivering between then and 2015. Several financial institutions are understood to be bidding for the mandate.
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The Federal Aviation Administration (FAA) initiated an action to collect a $10.2 million civil penalty from Southwest Airlines for operating 46 aircraft without performing mandatory inspections for fuselage fatigue cracking. Subsequently, the airline found that six of the 46 aircraft had fatigue cracks.
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The EU-US open skies agreement came into effect in March. The agreement has ended restrictions on which carriers can operate a transatlantic flight. The treaty has replaced a previous agreement which only allowed four airlines to fly between Europe and the US. Now any airline in the EU will be able to fly to the US and vice a versa.
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Adam Pilarksi, senior vice-president at Avitas, continues his regular column by looking at the effects of over ordering
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March
It has been 35 years since ILFC completed the first operating lease. Steven Udvar-Hazy, its chairman, talks exclusively to Sophie Segal about how the market has evolved and what the future holds.
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John Plueger, ILFC's president and chief operating officer, talks about aircraft orders and the lessor's plans to acquire new aircraft.
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Etihad's financing for its A340-600 was a first for the Abu Dhabi-based carrier, earning it the Middle East Deal of the Year award.
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Travelling on a passenger aircraft has become a toil for some people in these environmentally and security-conscience times. No wonder business jets are enjoying record sales. Will Roberts reports.
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German investors are the new blood of the airfinance market. Janet Du Chenne looks at the main deals involving these investors.
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After a well-attended address at this year's European Airfinance conference, Adam Pilarski, senior vice-president at Avitas, starts a regular column on the state of the airfinance market.
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February
The market might be going through uncertain times, but innovation remains high, as this year's Airfinance Journal Deals of the Year awards will testify.
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A recent drop in its share price should not take the gloss off Allco's successful past couple of years, writes Will Roberts.
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Embraer hit a new high in 2007 with the delivery of 169 jets. But, with the threat of recession and the likely revival of the turboprop, things will probably get tougher. Geoff Hearn looks at the impact this will have on Embraer's 70-seat jets.
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