Air India
Air India operates in 98 destinations. Credit: Andrew W. Sieber.
 Nordic Aviation Capital
Airbus A220 is powered by Pratt & Whitney’s latest-generation PW1500G geared turbofan engines. Credit: Airbus SAS.
 Boeing 737-MAX
Boeing grounded its 737 Max since March last year. Credit: Charly W. Karl.
 Southwest Airlines
Southwest Airlines Mechanics work on Boeing 737s inside the carrier’s new hangar at William P. Hobby Airport. Credit: Southwest Airlines.

Boeing reportedly seeking to secure $10bn or more in loans

US aerospace company Boeing is reportedly seeking to raise $10bn or more in loans from a number of banks.

The news was first reported by CNBC citing sources that the aircraft manufacturer has already borrowed around $6bn from banks.

Boeing is currently in talks with different lenders to borrow more. A source familiar with the matter told CNBC that the new loan could be a two-year, delayed-draw loan.

Indian Government agrees to divest entire stake in Air India

The Indian Government agreed to divest a 100% stake in the country’s flag carrier Air India.

The preliminary information memorandum (PIM) was released seeking an expression of interest (EOI) from the interested bidders (IBs).

The PIM was issued after approval from the Air India Specific Alternative Mechanism (AISAM). India’s Union Ministers of Commerce & Industry, Finance & Corporate Affairs and Civil Aviation are members of AISAM, which is led by the country’s home minister.

Toyota leads Joby Aviation’s $590m Series C funding

US aerospace company Joby Aviation secured $590m in a Series C funding round to support the launch of its air taxi service.

The financing round was led by Toyota Motor Corporation with a $394m investment and saw the participation of previous investors. These include SPARX Group, Intel Capital, Capricorn Investment Group, JetBlue Technology Ventures, Toyota AI Ventures, and AME Cloud Ventures.

Two new investors, namely Baillie Gifford and Global Oryx, also joined the new financing, which increases the current total funding to $720m.

US firm Zephyrus secures $350m warehouse finance facility

US aircraft and engine leasing and trading company Zephyrus Aviation Capital secured a $350m warehouse finance facility.

Deutsche Bank New York Branch served as the structuring agent and lead arranger.

Zephyrus’ first warehouse facility will start housing aircraft shortly.

Southwest Airlines unveils $125m maintenance facility in Houston, US

US domestic carrier Southwest Airlines unveiled a $125m new maintenance facility at William P. Hobby International Airport in Houston, Texas.

The new 240,000ft² facility is the airline’s largest maintenance complex across its operation.

In addition to offices, training facilities and warehouse space, the facility also features a 140,000ft² hangar.

Nordic Aviation Capital places order for 20 Airbus A220 aircraft

Aircraft leasing company Nordic Aviation Capital (NAC) officially finalised an order with Airbus for 20 A220 aircraft.

In June last year, the two parties agreed to the order through a memorandum of understanding (MoU) signed at the Paris Air Show.

As a follow-up of the MoU, NAC signed the contract for 20 A220 family aircraft earlier this month.

Boeing 737-800 passenger jet heading for Kyiv crashes in Tehran

A Boeing 737-800 passenger jet operated by Ukranian International Airlines crashed shortly after take-off from Tehran, Iran, killing all 176 people on board.

Taking off from Imam Khomeini International Airport, the Kyiv-bound aircraft is reported to have crashed at 6:22am local time.

The reason for the crash is yet to be ascertained. Iran’s Fars news agency reported that technical problems could be the potential cause of the crash.

Honeywell secures contract for Nasa’s Orion spacecraft components

Engineering services and aerospace systems provider Honeywell secured a contract from Lockheed Martin to support the production of Nasa’s Orion spacecraft fleet.

The Orion spacecraft is part of Nasa’s Artemis missions, which will place humans on the moon’s surface, and aims to collect learnings and insights that will aim to send astronauts to Mars.

Under this contract, Honeywell was tasked to deliver 14 product types of both hardware and software for the spacecraft’s crew module and service module.