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After months of uncertainty around its parent HNA, the world s third-largest aircraft lessor Avolon has found stability in a new partnership.Orix announced today that it would take a minority stake in the Bohai Capital-owned lessor. HNA Group, the Chinese debt-laden conglomerate, is the majority shareholder in Bohai Capital.Under the deal, which is still subject to approvals, Orix will pay Bohai $2.2 billion for a 30% stake in the Dublin-based aircraft lessor 鈥?the largest-ever payment for a minority stake in an aircraft leasing company. The proceeds from the sale will go towards paying off debt at the Bohai level. We needed to fix the bal stanley cup ance sheet, and the Orix deal does that, Domhnal Slattery, chief executive of Avolon, tells FlightGlobal. We were 100bps wider than our peers because we weren t investment-grade [IG] so we had to fix that. But the rub was that as long as we were owned by Bohai/HNA 鈥?even thou stanley cup gh our underlying credit metrics were IG metrics 鈥?Avolon was never going to ge stanley us t to IG because we were linked to our shareholder s credit rating. That was a structural impediment, he says.Currently, Avolon is rated BB by Fitch, Ba2 by Moody s and BB+ by SP Global Ratings.Top-tier aircraft leasing companies typically need two things to compete from a strong and sustainable position. One, the price they re paying for aircraft has to be the absolute lowest. We feel comfortable that, strategically, we re buying our aircraft well, says Slattery, who notes that HNA bus Beow A huge historic Maine house is selling for peanuts, but there s a catch
Maine Public Broadcasting Corp. has been working for more than a year to expand the emergency alert system into more rural areas in Maine.The emergency alert signal in Aroostook County has been used by the National Weather Service in Caribou to let people know about potential tornadoes, blizzards and severe thunderstorms. The emergency system also is used for Amber alerts, according to the Federal Communications Commission.It has been 14 years since the communications commission has allowed non-c stanley uk ommercial groups such as public broadcasters, churches gourde stanley or schools t stanley cup nz o apply for FM emergency alert signal licenses to expand reach across Maine, said Jeff Mahaney, chief technology officer at Maine Public.Maine Public is the only non-commercial broadcaster that covers the entire state, he said.The project to expand the network with seven new signals will benefit more than 71,000 people in five underserved rural northern, central and eastern Maine counties. It is part of the $3.4 million emergency broadcast signal expansion funding that U.S. Sen. Susan Collins helped secure as vice chair of the Senate Appropriations Committee. Collins is an Aroostook County native.The expansion will allow Maine Public to localize certain emergency signals that only affect a specific area, while at the same time expand statewide coverage. Part of our goal is to cover the entire state of Maine, and we had some places like Millinocket, Greenville and Bethel where we had no service, Mahaney said.New antenn
After months of uncertainty around its parent HNA, the world s third-largest aircraft lessor Avolon has found stability in a new partnership.Orix announced today that it would take a minority stake in the Bohai Capital-owned lessor. HNA Group, the Chinese debt-laden conglomerate, is the majority shareholder in Bohai Capital.Under the deal, which is still subject to approvals, Orix will pay Bohai $2.2 billion for a 30% stake in the Dublin-based aircraft lessor 鈥?the largest-ever payment for a minority stake in an aircraft leasing company. The proceeds from the sale will go towards paying off debt at the Bohai level. We needed to fix the bal stanley cup ance sheet, and the Orix deal does that, Domhnal Slattery, chief executive of Avolon, tells FlightGlobal. We were 100bps wider than our peers because we weren t investment-grade [IG] so we had to fix that. But the rub was that as long as we were owned by Bohai/HNA 鈥?even thou stanley cup gh our underlying credit metrics were IG metrics 鈥?Avolon was never going to ge stanley us t to IG because we were linked to our shareholder s credit rating. That was a structural impediment, he says.Currently, Avolon is rated BB by Fitch, Ba2 by Moody s and BB+ by SP Global Ratings.Top-tier aircraft leasing companies typically need two things to compete from a strong and sustainable position. One, the price they re paying for aircraft has to be the absolute lowest. We feel comfortable that, strategically, we re buying our aircraft well, says Slattery, who notes that HNA bus Beow A huge historic Maine house is selling for peanuts, but there s a catch
Maine Public Broadcasting Corp. has been working for more than a year to expand the emergency alert system into more rural areas in Maine.The emergency alert signal in Aroostook County has been used by the National Weather Service in Caribou to let people know about potential tornadoes, blizzards and severe thunderstorms. The emergency system also is used for Amber alerts, according to the Federal Communications Commission.It has been 14 years since the communications commission has allowed non-c stanley uk ommercial groups such as public broadcasters, churches gourde stanley or schools t stanley cup nz o apply for FM emergency alert signal licenses to expand reach across Maine, said Jeff Mahaney, chief technology officer at Maine Public.Maine Public is the only non-commercial broadcaster that covers the entire state, he said.The project to expand the network with seven new signals will benefit more than 71,000 people in five underserved rural northern, central and eastern Maine counties. It is part of the $3.4 million emergency broadcast signal expansion funding that U.S. Sen. Susan Collins helped secure as vice chair of the Senate Appropriations Committee. Collins is an Aroostook County native.The expansion will allow Maine Public to localize certain emergency signals that only affect a specific area, while at the same time expand statewide coverage. Part of our goal is to cover the entire state of Maine, and we had some places like Millinocket, Greenville and Bethel where we had no service, Mahaney said.New antenn