Aeroflot, the Russian flag carrier, has successfully issued three-year exchange bonds with a variable coupon structure, securing $555 million in funding. The issuance marks a significant financial maneuver amid challenging economic conditions and evolving market dynamics for Russian carriers.
Philippine Airlines has announced that it will commence a cabin retrofit program for its Airbus A321 fleet starting in May 2025, part of a broader initiative to modernize the in-flight experience and standardize cabin configurations across its narrowbody operations.
Garuda Indonesia has announced plans to expand its active fleet to 100 aircraft by the end of 2025, signaling a strong recovery trajectory following years of restructuring and operational downsizing. The projection includes two Boeing 737-800s, with serial numbers 44218 and 44217, scheduled to return to service during Q2 2025 after completing maintenance and overhaul work.
flynas, the Saudi Arabian low-cost carrier, has added another Airbus A320neo to its growing fleet as part of its ongoing expansion plan. The newly delivered aircraft, bearing serial number 12506, is powered by LEAP-1A26 engines, offering improved fuel efficiency and performance for regional and medium-haul operations.
China Aircraft Leasing Group (CALC) has finalized a lease agreement with Thai Airways International to provide nine Airbus A321neo aircraft. The aircraft will be delivered in phased installments between 2026 and 2028, supporting Thai Airways’ narrowbody fleet renewal and capacity expansion.
Air Kenya, a key regional airline based in Nairobi, is preparing to expand its turboprop fleet with the addition of two Bombardier Q200 aircraft. The turboprops are expected to support the airline’s domestic and East African operations, with serial number 448 arriving soon and serial number 454 scheduled for delivery by the end of Q2 2025.
Air India Express, the low-cost arm of the Air India Group, has taken delivery of two Airbus A321neo aircraft as part of its ongoing fleet modernization and expansion strategy. The aircraft bear serial numbers 11113 and 11260, and are powered by LEAP-1A32 engines. Both units are leased from undisclosed lessors.
Nepal Airlines has continued to reduce its outstanding aircraft debt with the repayment of an additional $3.9 million, bringing its total loan repayments to $545 million. These repayments relate to loans obtained from the airline’s employee fund for the acquisition of four aircraft.
Qatar Airways Cargo, IAG Cargo of the UK, and MAB Kargo of Malaysia have jointly announced plans to establish a Global Cargo Joint Business, subject to regulatory approvals. The alliance aims to enhance service offerings, expand global reach, and optimize capacity across the networks of the three cargo operators.
SpiceJet has encountered a regulatory setback as India’s capital market regulator declined a request by the Elara India Opportunities Fund (Mauritius) to convert warrants worth over US$46.8 million into equity shares. The Securities and Exchange Board of India (SEBI) cited non-compliance with beneficial ownership disclosure requirements as the basis for its decision.
