ARC NEWS
Delta seeks to buy back $1 billion of outstanding notes
July 16, 2021
Delta Air Lines is offering to buy back up to $1 billion of $7.25 billion in outstanding notes. In a regulatory filing, the US carrier says it is seeking to buy back up to $800,000 of its $3.5 billion outstanding 7% senior unsecured notes due in 2025. It is further open to buying back a portion of its $1.25 billion 7.375% notes due 2026 and some of its $2.5 billion 4.5% senior secured notes due in 2025 which were co-issued its SkyMiles IP subsidiary. Atlanta-based Delta issued the three tranches of debt in 2020 as it sought to shore up its liquidity position amid the pandemic. The early tender time for the buyback is 17:00 ET on 28 July. The tender offer is to expire at 23:59 on 11 August.


​Vietnam Airlines restoring Australian, Thai and Japanese flights
July 15, 2021
Vietnam Airlines is poised to resume operating to Australia and to the capitals of Japan and Thailand. The Vietnamese flag carrier says it will serve Sydney and Melbourne from Ho Chi Minh City, twice and once weekly starting from 15 and 20 July, respectively, until 30 October. Japanese capital Tokyo will be served twice weekly from Hanoi as of 17 July, likewise until 30 October. Between 1 August and 30 October, the carrier will add a weekly flight from Ho Chi Minh City to Thai capital Bangkok, and during the same span a weekly Tokyo service will be operated from the same Vietnamese city. Boeing 787 and Airbus A350 aircraft will be deployed on these routes. Vietnam Airlines has also disclosed plans for limited operations to European destinations from Hanoi. Departures to Frankfurt in Germany are scheduled on 25 July, 28 July and 21 August, with return flights the next day in each case. There will be flights to London on 13 August and 2 September, with returns again programmed for the following day.


Flydubai cancels 65 Max orders
July 15, 2021
Flydubai has cancelled 65 Boeing 737 Max orders. The Middle Eastern low-cost carrier says it has reached an agreement with Boeing to reduce adjust orders placed in 2013 and 2017 to 172 aircraft. Flydubai took delivery of two Boeing 737 Max 8s last month and will take a further 11 by year-end. The airline says it continues to diversify its sources of funding and has concluded the financing requirements for all aircraft deliveries due this year. It currently operates a single-type fleet of 52 737s, comprising 36 737-800s, 13 Max 8s and three Max 9s.


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