Northern Pacific Airways is taking a somewhat unusual approach to funding ahead of its expected launch later this year. The carrier is running an open call to unaccredited investors, hoping to boost its visibility in the market, as well as its cash balance.
Norwegian brings back the MAX 8, with a twist
Norwegian agreed to lease a pair of Boeing 737 MAX 8 aircraft, bringing the type back into service at the carrier. The two planes will join the carrier’s operations “shortly” with a focus on meeting the Summer 2022 goal of serving approximately 270 routes.
Some details on Connect Airlines’ operating costs
Looking to lease a couple Q400s to launch an airline? The going rate appears to be $50k/month, according to recent DOT filings made by Connect Airlines.
Breeze banks $200 million to fuel growth
Breeze Airways secured an additional $200 million in funding, providing the carrier with a sizable bankroll to support upcoming expansion. The deal involves new and existing investors and gives the company the most capital for any of this year’s startup carriers.
LATAM scraps A350 fleet
LATAM never could really figure out what to do with its fleet of A350s. And now the fleet is no more. The company plans to remove the A350 from its Brazilian operations effective immediately.
Norse Atlantic snags former Norwegian planes for launch
Picking up some of Norwegian’s old 787s was always part of the plan for Norse Atlantic’s launch later this year. Picking up its troubled history gaining access to the US market, however, is less useful.
Norwegian abandons long-haul operations, refocuses on 737 routes in Europe
Chalk up another major long-haul LCC failure. Norwegian will abandon its fleet of 37 787 Dreamliners, refocusing on the short-haul European market served with single-aisle aircraft.
A fleet of salvage-priced planes
Does it matter that airlines are flying planes worth more in the scrap yard than they are to a new owner? Probably not, but United’s latest effort to secure a $3bn loan is an interesting insight into the world of aircraft valuation considerations.
LATAM seeks US bankruptcy protection, plans to continue operations
South America’s LATAM Airlines Group filed for Chapter 11 bankruptcy reorganization in the US courts on Tuesday morning, seeking to restructure debt while continuing regular operations. Or, at least, operations as close to regular as possible given the current global aviation environment.
Norwegian scores a funding boost from China
Norwegian found $1.5bn to help cover short-term aircraft costs thanks to a Chinese partner. The deal dramatically reduces CapEx for the next four years, an important win as the company seeks to shore up its books.