FlightGlobal
• Graham Dunn
Latvia’s state-owned airBaltic is pivoting from expansion to financial stabilization, reducing its Airbus A220-300 fleet from 54 aircraft to 36. The restructuring includes cost reductions and a proposed debt-for-equity swap as the carrier seeks to restore profitability and strengthen its balance sheet.
Aircraft Finance & Leasing
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Marshall Group says it is pursuing a comprehensive sales process for Marshall Aerospace, its final remaining division and a UK-based military maintenance, repair and overhaul provider. The family-owned company aims to identify a buyer and complete the divestment by the end of this year.
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Air Canada is selling a 25% minority stake in its Aeroplan loyalty program to funds managed by Blackstone, La Caisse de dépôt et placement du Québec and other Canadian institutions for C$2.5 billion, valuing the program at about C$10 billion. Air Canada will retain operational and strategic control, using proceeds for debt repayment and share buybacks.
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Boeing delivered 53 commercial aircraft in July—39 737 MAXs, 10 787s, three 767s and one 777 Freighter—down from 64 in June but up from 48 a year earlier. Airbus delivered 67 jets, while Boeing reported 30 net orders, including Uganda Airlines and AerCap agreements announced around Farnborough.
High activity
Latvia’s state-owned airBaltic is pivoting from expansion to financial stabilization, reducing its Airbus A220-300 fleet from 54 aircraft to 36. The restructuring includes cost reductions and a proposed debt-for-equity swap as the carrier seeks to restore profitability and strengthen its balance sheet.
Vertical Aerospace has secured approximately $100 million in financing commitments from existing and new investors to support certification and commercialisation of Valo, its piloted four-passenger electric vertical-takeoff-and-landing aircraft. The funding comes as the Bristol-based company advances the program toward critical design review and production.
South Korean airline Jin Air plans to lease 14 aircraft from Airbus and Boeing, signaling a fleet expansion through operating leases. The available report does not specify the aircraft models, lessors, delivery schedule or intended network deployment.
Alternative investment firm 777 Partners has filed for bankruptcy weeks after creditors moved to liquidate the company. The filing follows more than a year of asset sales, marking a significant escalation in the firm’s financial deterioration and the disposition of its remaining holdings.
Spain’s Airworks has received a restricted-category UH-60L for wildfire response after an 18-month collaboration with Timberline Helicopters, while Pegasus Aero Group signed a long-term, multi-aircraft lease agreement with SkyConnect Leasing. The developments point to growing European operating and support capacity for the heavy helicopter type.
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