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Helicopter Finance

PHI shareholders suggest selling PHI Air Medical to cover debt

PHI shareholders suggest selling PHI Air Medical to cover debt

Two PHI’s shareholders have sent a letter to the company’s board of directors proposing PHI sell its air medical business to help refinance debt. The two shareholders, Christopher Olin from Alesia Asset Management and private investor Timothy Stabosz, own a

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Credit freeze hits helicopter market

Credit freeze hits helicopter market

Many people might find it hard to feel sympathy for bankers. Especially after 2008. But as the credit crunch shows, no industry can survive without debt. The helicopter industry is about to discover this. Lenders, many of whom have already

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Waypoint starts negotiations with lenders over covenants

Waypoint starts negotiations with lenders over covenants

Waypoint Leasing, the largest independent helicopter lessor, is in talks with banks to restructure loans. The lessor first held talks in June to warn lenders that it could be close to breaching some covenants. Some 26 banks are involved. Waypoint,

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Airbus to pay ERA $42 million in H225 settlement

Airbus to pay ERA $42 million in H225 settlement

Airbus has agreed to pay helicopter operator Era Group $42 million as compensation over the grounding of the H225. A significant amount of the aircraft type was grounded by regulators in the wake of a fatal crash of a CHC

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PHI buys back notes in preparation for new offer

PHI buys back notes in preparation for new offer

PHI Helicopters is nearing completion of a tender offer of an early buy-back of notes. These are those outstanding from a 2014 issue of $500 million and that are due for redemption in 2019. Essentially, this is a balance sheet

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Blade raises $38 million, partners with Airbus

Blade raises $38 million, partners with Airbus

It has been a busy week for Blade. The privately-owned online helicopter charter company has raised $38 million from its second round of financing and has partnered with Airbus to manage the Airbus Ride helicopter service in Dallas. The capital

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XTI upping share-offering price

XTI upping share-offering price

XTI Aircraft is planning to increase the price at which it is offering new shares by 50%. The Vtol start-up is preparing to submit papers to the U.S. Securities and Exchange Commission (SEC) to increase the offering price of its

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Bristow closes $350 million offering

Bristow closes $350 million offering

Bristow has completed its private $350 million notes offering, offering the group greater financial certainty though higher costs. The issue had initially been set as a  $300 million private offering but was subsequently raised to the $350 million level when

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Leonardo Helicopter reduces revolving credit by 200 million euros

Leonardo Helicopter reduces revolving credit by 200 million euros

In response to its reduced liquidity needs, Leonardo Helicopters has signed a new revolving credit facility through a pool of 26 banks and bookrunners. The new agreement provides Leonardo with a facility of €1.8 billion against an earlier €2 billion.

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LCI closes $55 million capital markets loan

LCI closes $55 million capital markets loan

Lease Corporation International (LCI) has closed its first capital markets financing with a $55 million five-year loan. CIT Group and Prudential Capital Group led the issue. The helicopter lessor will use the cash to buy six new Leonardo AW139 and

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