Airlines

The Airline Industry Group is part of the Global Industrial and Services group and actively covers passenger, cargo and charter airlines, plus related businesses such as aircraft leasing, frequent flyer programs, aircraft maintenance, and airports. The New York and Chicago-based bankers are responsible for airlines-related activities throughout the Americas and, in conjunction with colleagues in London, deliver a seamless global investment banking presence.

Credit Suisse's Airline Industry bankers integrate strategic advisory services with a highly regarded structured aircraft finance capital markets team, market-leading high yield and leverage finance capital markets groups and an outstanding equity capital markets team to provide optimal solutions for our clients. Additional expertise in restructuring and derivatives rounds out the coverage model.

The Airline Industry Group's strategic advisory services span North and South America, with recent significant transactions outlined below:

• American Express' loan to Delta Air Lines (financial advisor to American Express)
  
• $1.5 billion sale of Grupo Mexicana to Grupo Posadas (financial advisor to Cintra)
  
• Brazilian airline TAM's out-of-court restructuring (financial advisor)
  
• Credit Suisse is currently acting as lead financial advisor to the City of Chicago in privatization of Chicago Midway International Airport - the first-ever privatization of a hub airport in the United States
  

Credit Suisse has proven itself a leader in the enhanced equipment trust certificates (EETC), a highly structured aircraft financing product. Since the development of this product a decade ago, Credit Suisse has bookrun over $44 billion in EETC and related structured financings. We reopened the EETC market in 2007 with two landmark EETC transactions totaling nearly $2 billion. Recent aircraft finance, high yield and leverage finance transactions include:

• $1.14 billion EETC for Continental Airlines (joint bookrunner and structuring agent)
  
• $693 million EETC for United Airlines (joint bookrunner)
  
• $893 million aircraft portfolio securitization for B&B Air (bookrunner)
  
• $200 million unsecured notes for Continental Airlines (co-manager)
  
• $2.5 billion exit term loan for Delta Air Lines (co-agency role)
  
• $2.25 billion term loan for United Airlines (co-agency role)
  

The Airline Industry Group is also well-recognized in the equity capital markets throughout the Americas, with key recent transactions outlined below:

• B&B Air's $430 million IPO (bookrunner)
  
• AMR's $503 million common equity follow-on (joint bookrunner)
  
• Brazilian low-cost carrier GOL's $100 million common equity follow-on (sole bookrunner)
  
• TAM's $721 million common equity follow-on and inaugural NYSE offering (joint bookrunner)