soundlab production – dssoundlabs http://www.dssoundlabs.com/ Sun, 29 Aug 2021 15:45:45 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 WHY A Personal Loan Could Be Smart for Paying Off Your Debt http://www.dssoundlabs.com/consolidated-debt-loan-definition-what-are-debt-consolidation-loans/ Sun, 29 Aug 2021 15:45:41 +0000 http://www.dssoundlabs.com/?p=65 A personal loan for debt consolidation can help you simplify your finances, reduce interest payments and put your focus on one monthly payment. How does a debt consolidation loan work? The economy forces people to rely on loans more and end up paying a lot in interest when they have high-interest credit card debt. A debt […]]]>

A personal loan for debt consolidation can help you simplify your finances, reduce interest payments and put your focus on one monthly payment.

How does a debt consolidation loan work?

The economy forces people to rely on loans more and end up paying a lot in interest when they have high-interest credit card debt. A debt consolidation loan provides you with immediate cash to pay off your high-interest debt. It also replaces your existing loan. Your new loan will have a lower interest rate than your old debt. This can help you save interest costs and make monthly payments less.

Consolidating debt can be a good option for people with high-interest debt. Consider a scenario: You have $6,000 of credit card debt at 16%, $2,000 left on an auto loan at 9.5%, and $4,000 in medical bills. The late fee is $100 each month until the loan is paid off.

A $12,000 debt consolidation loan at 8.5% would allow you to immediately pay off all of your other debt. In addition to saving 7.5 percentage points on your credit card and 1.0 percent on your auto loans, you can also avoid the $100 monthly penalty your medical provider charges for late payments. In the long term, this will save you money. Also, if your terms were identical, you’d pay a lower monthly fee.

What are the terms of consolidation loans and what are their rates?

Your credit score, the amount of your loan, your monthly income, and loan term will all affect your rate. Rates can also be affected by the overall rate environment. As an example, rates for an unsecured Express Personal Loan through First Midwest Bank were between 5.16% APR and 16.31% APR at the close of 2020.

A key decision is the loan term. The interest rate generally lowers the shorter the loan term. By paying your loan off sooner, you can save quite some interest. Not only is the interest rate lower, but your principal also has less time to accrue it.

Why then do people not always choose the shortest terms? It’s the monthly repayment — you can only pay the loan off faster if you make more monthly payments. Many people do not have the cash flow to pay that much. It is important to strike the right balance between saving interest and keeping your monthly expenses manageable when choosing the term.

Can a Consolidated Debt Loan Impact Your Credit Score?

Regular payments will help your credit score. A debt consolidation loan won’t hurt your credit score. You may be able to improve your credit score by consolidating debt.

If you are already in default on your payments or have excessive debt, personal loans may be able to help you pay off those debts and make monthly payments. Your credit score will improve if you make all of your payments on time.

Your revolving credit, also known as your credit cards, is another important factor in your credit score. How much is your balance? What is your balance relative to what you are allowed to borrow? This is your credit utilization rate.

Consider this: If you have only one credit card and you are in default, you would have a $6,000 credit card balance. This credit card allows you to have an $8,000 line for revolving credits. Even if your minimum monthly payments are met, your credit utilization ratio of 75% would still apply. This is a huge amount. Credit monitoring services want to see this ratio lower than 30%.

A debt consolidation loan can be used to pay the balance without closing down your account. You can then transition to much lower balances which are fully paid each month. This will help you improve your credit utilization, which in turn can improve your credit score.

You should also be aware that any loan application requiring a hard credit review will temporarily impact your credit score. Your credit score will not be affected by talking to a lender about getting a loan or getting a low rate quote.

What is Unsecured Debt Consolidation?

Unsecured loans are often a mystery to many people. Unsecured loans do not require collateral. What is collateral? Consider it a secured asset. One example of this is a mortgage loan where the house is used to secure the loan. In order to recover the loan cost, the bank may take possession of the home if the borrower defaults on mortgage payments.

A consolidation loan for unsecured debt is available without the need for collateral. The unsecured debt consolidation loan does not require the borrower to put up collateral such as a home, car, jewelry collection, or any other valuable property.

The best loan rates are typically reserved for those who put up substantial collateral. However, an unsecured loan offers several benefits.

  • You can avoid appraisal fees and the hassles of scheduling an appraisal
  • Unsecured loans can be approved faster by banks than they are by banks.
  • All borrowers are eligible for the loan even if they don’t have collateral

You may feel relieved as a borrower because you know your home, or any other valuable asset is not at risk from an unsecured loan.

Debt Consolidation using a Personal Loan: The Pros and Cons

Consolidating debt can have many advantages.

  • A debt consolidation loan could allow you to pay lower interest rates on your outstanding debt and also lower monthly payments.
  • One monthly payment will simplify your bills and billing cycles. This will make it easier to pay the bill.
  • By making regular, on-time payments, you could build your credit rating.
  • Paying off large credit cards balances can help you improve your credit utilization ratio, which is an important component of credit score.

The downside to this loan is that you may not be able to qualify for it or not receive a rate that allows you to save on interest.

The second con is the way a debt consolidation loan should be treated. It can be seen as a solution to all of their financial problems by some people. But this loan does not address the core issue. The borrower may have become so indebted that they are now unable to pay their bills. If the borrower doesn’t take steps to reduce their credit dependence, lower their overall expenses and increase their savings they might find themselves in the same place several years later.

You should apply for a debt consolidation loan if you are interested. A debt consolidation loan may be combined with financial planning, money management education, or credit counseling if you’re serious about breaking the cycle of debt. You have many options when you begin to address high-interest debt.

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Definition of foreign aid http://www.dssoundlabs.com/definition-of-foreign-aid-2/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/definition-of-foreign-aid/ What is foreign aid? The term foreign aid refers to any type of aid that a country voluntarily transfers to another, which may take the form of a donation, to agree, or ready. Most people tend to think of foreign aid as Capital city, but it can also include food, supplies and services such as […]]]>


What is foreign aid?

The term foreign aid refers to any type of aid that a country voluntarily transfers to another, which may take the form of a donation, to agree, or ready. Most people tend to think of foreign aid as Capital city, but it can also include food, supplies and services such as humanitarian aid and military assistance.

Broader definitions of aid include any aid transferred across borders by religious organizations, non-governmental organizations (NGOs) and foundations. US foreign aid generally refers to the military and economic aid provided by the federal government to other countries.

Key points to remember

  • Foreign aid is any type of aid that one country voluntarily transfers to another, which may take the form of a grant, grant or loan.
  • Countries can provide aid in the form of capital, food, supplies and services such as humanitarian aid and military assistance.
  • Developed countries can provide developing countries with foreign aid after natural disasters, times of conflict or during an economic crisis.
  • The United Nations demands that advanced countries spend at least 0.7% of their gross national income on international aid.
  • The United States is the most generous, according to the Organization for Economic Co-operation and Development.

Understanding foreign aid

As noted above, foreign aid is any type of assistance that the government of one country provides to another country, usually from developed countries to developing countries. Governments can grant aid in the form of:

  • Money
  • Food and supplies
  • Medical assistance, including doctors and supplies
  • Humanitarian aid such as aid workers
  • Training services, including agricultural training
  • Health care
  • Education
  • Help to Infrastructure building
  • Peacebuilding activities

Governments can enter into agreements with countries to which they provide assistance. For example, a developed country may agree to provide grants to those who need them after a natural disaster or in times of conflict, whether they provide any kind of capital or humanitarian aid. Or a government may agree to provide loans to an allied country experiencing economic uncertainty with refund provisions.

Worried about where foreign aid is going? Only a small portion of US aid goes to federal governments, while the rest goes to nonprofits, NGOs, and other organizations.

According to Organisation for Economic Co-operation and Development (OECD), member countries contributed $ 152.8 billion in international aid in 2019.This was divided into:

  • $ 149.4 billion in grants and capital loans
  • $ 1.9 billion to be developed private sector growth vehicles
  • $ 1.4 billion in loans and equity to private companies
  • $ 100 million in debt relief

The United States is the most generous, according to the OECD, providing $ 34.6 billion in foreign aid in 2019. The remaining countries that were among the top five donors were:

  • Germany: $ 23.8 billion
  • United Kingdom: $ 19.4 billion
  • Japan: $ 15.5 billion
  • France: $ 12.2 billion

The The United Nations (UN) calls on economically advanced countries to spend at least 0.7% of their gross national income (GNI) on international aid.Turkey, Denmark, Luxembourg, Norway, Sweden and the United Kingdom are the only countries that have reached or exceeded this level. The total contribution of member countries, however, averaged 0.3%, well below the UN target.


ODA as a percentage of gross national income

According to Security Assistance Monitor, the Middle East and North Africa region received the most aid, which amounted to more than $ 1.195 billion in 2018, followed by the sub-Saharan Africa region, which received about $ 965 million. The countries that received the most aid that year were Afghanistan, Jordan, Kenya, Tanzania and Uganda.


Net official development assistance by country

Special considerations

Foreign aid estimates tend to vary, given the different agencies, funding methods, and categories of aid associated with US foreign aid efforts. For example, the Congressional Research Service (CRS) – a non-partisan organization – the country spent $ 46.89 billion in foreign aid in fiscal 2018. This figure was 1% of the budget authorization. total federal.

Assistance can be provided by governments directly or through special federal agencies. For example, the United States Agency for International Development (USAID) was established in 1961 to provide civilian aid. It provides assistance in the areas of education, environment, climate change, global health, crises and conflicts, food and agriculture, water and human rights. the man.

History of foreign aid

Foreign aid, also commonly referred to as international aid and economic aid, is not a new concept. The colonies benefited from foreign military aid, particularly from France, during the the american revolution. During World War I, the US government loaned the Belgian Relief Committee $ 387 million, much of which it later forgave.

American foreign aid began in earnest during World War II. Prior to entering the war, the government began channeling funds and materiel to Allied nations under the Lend-Lease Program, which amounted to $ 50.1 billion in August 1945. The United States United also contributed $ 2.7 billion through the United Nations Relief and Rehabilitation Administration (UNRRA), beginning in late 1943.

During the four years since 1948, the United States gave $ 13 billion in aid to war-affected countries such as the United Kingdom, France and West Germany through the Marshall Plan. The Mutual Security Act of 1951 authorized about $ 7.5 billion in foreign aid per year until 1961. The amount of aid authorized by the Mutual Security Act in 1951 was about 2.2% of the total. gross domestic product (GDP).



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Sustainable finance in aviation: what future? http://www.dssoundlabs.com/sustainable-finance-in-aviation-what-future/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/sustainable-finance-in-aviation-what-future/ While environmental, social and governance (“ESG”) factors may have previously been substantive considerations for credit committees, they are increasingly key determinants of capital allocation. The application of ESG to aircraft finance transactions is therefore increasingly widespread as participants are eager to avail themselves of green credentials – although accusations of “green laundering” remain in some […]]]>


While environmental, social and governance (“ESG”) factors may have previously been substantive considerations for credit committees, they are increasingly key determinants of capital allocation. The application of ESG to aircraft finance transactions is therefore increasingly widespread as participants are eager to avail themselves of green credentials – although accusations of “green laundering” remain in some quarters. In this article, we review the current position and the way forward.

Background

To date, green finance has tended to fall into two categories: sustainability-linked loans (“SLL“) and” green loans “(also explored in our previous briefing”How the grass can be greener in Singapore: green loans in Asia-Pacific‘).

SLLs imply that the margin and fees are tied to the borrower’s ESG credentials. ESG benchmarks can be measured by an external assessor such as a green credit rating agency. Several traditional rating agencies have been active in this market; in 2019 Moody’s acquired a majority stake in the ESG rating agency Vigeo Eiris[1]. In other cases, the borrower and the lender may agree on ESG performance indicators, which must be met in order to avoid an increase in costs or margin, or, if met, reward the borrower. with lower costs and margin. In addition, the Loan Market Association (“LMA“) recently published the Principles of Sustainability Lending (“SLLP“) which effectively ties the terms of a proposed loan to a borrower’s sustainability profile, thereby enabling borrowers to obtain more favorable loan terms. Note that SLLPs should be adopted on a voluntary basis. and the LMA does not yet establish a clear accreditation system (accreditation has so far been undertaken by rating agencies).

“Green loans” describe financing in which the loan proceeds are to be allocated to specific “green projects” and are more prevalent in asset and project finance transactions. LMA has produced an analogue of SLLPs, the Green Loan Principles (“GLP“), which lists a non-exhaustive list of ten categories of” green projects “, including, for example, renewable energy projects. GLP recommends a four-pronged approach to qualifying a loan as” green “: (i ) use of loan proceeds for “green projects” (ii), communication of environmental objectives and eligibility criteria to lenders, (iii) management and monitoring of funds to ensure application for “green” purposes “And (iv) regular and transparent reporting to creditors on the use of funds. These elements will require sophisticated monitoring and reporting requirements in financial documentation. European banks have been particularly active in the” green loan “market. , stimulated by environmental regulations and political pressures (currently less prevalent in the United States and Asia-Pacific).

Key factors

Green finance increased 46% in 2019 to $ 460 billion[2]. Several key drivers are behind this growth:

Borrower credit

Lenders argue that borrowers with better ESG credentials are likely to have better corporate governance and therefore have lower credit risk. Perhaps this seems obvious given the ‘governance“ESG aspect, but given the growing attention to climate change, many believe that companies with better ESG credentials will be inherently better placed and stronger as organizations in the future global business world. more and more financial modeling on this relationship between ESG and financial performance.

Company references

Borrowers face significant reputational, political and regulatory pressures to improve their ESG credentials, reinforced by the recent trend of shareholder activism in markets around the world. Sustainable financing will be part of a stronger and more visible ESG strategy. In addition, end users are increasingly aware of the environmental provenance of the products and services they wish to purchase.

Aviation is facing particular pressure in this regard, with the industry having to respond to “flight-shaming”. As a result, many major airlines have embarked on a radical overhaul of their ESG policies. For example, in February 2020, Delta pledged to spend $ 1 billion over the next 10 years to offset its carbon emissions. The major aircraft rental company Avolon has openly discussed the need to improve its ESG performance for bond issues, even posing the concept of a “green lease”, under which airlines with better ESG performance would have access at lower rents. As the dynamics accelerate, aircraft leases may in the future contain provisions requiring the airline tenant to be fully transparent with respect to emissions data and fleet composition. .

ESG references of the bank

Banks (and other financiers such as sovereign wealth funds and pension funds) also face increasing pressure to justify their capital flows in terms of ESG criteria (one of the key objectives of the Paris Agreement in 2015 ). After France, Australia and Singapore, British regulators announced in early July that banks would soon be subjected to climate stress tests[3]. In terms of reputational considerations, a number of large financial institutions have been the subject of much public and political criticism for their involvement in “dirty” industries such as coal and gas.

Voluntary initiatives

Some banks have sought to self-regulate by mandating environmental disclosure and performance improvement through voluntary industry programs. For example, many have already adhered to the United Nations Principles for Sustainable Investment and the Task Force on Climate-related Financial Disclosures. Additionally, in June 2019, 11 banks with approximately $ 100 billion in maritime loans implemented the Poseidon Principles, by which they committed to ensuring the environmental sustainability of maritime debt. A similar pattern has not yet been seen among aviation financiers but could be developed in the years to come.

Regulatory change on the horizon

Governments and regulators are likely to implement additional measures to benefit those who fund environmentally friendly projects. For example, the European Commission is considering proposals for granting a lighter treatment of capital to sustainable debt[4]. Banks that have sustainable development initiatives and processes in place will be better placed to manage these changes.

Application to aviation financing

In December 2019, Deutsche Bank provided debt financing to Singapore-based lessor Avation for the acquisition of three ATR 72-600s for lease from Braathens Regional Airlines. Vigeo Eiris determined that this funding was aligned with LMA’s GLP on the assumption that the aircraft in question emits 40% less carbon dioxide than a comparable regional jet. This transaction was recognized as the first of its kind in the industry.

However, despite the keen interest of aviation industry players in acquiring green credentials, there remain challenges inherent in aviation financing that can lead to long-term incrementalism:

“Green wash”

One charge that has hampered the development of sustainable credit, and to which the aviation industry is particularly sensitive, is the concept of “green-washing”, whereby loans are labeled as “green” but are in fact granted on terms. identical to loan. The use of independent credit agencies in this regard has drawn unfortunate comparisons with some of the practices of rating agencies undertaken prior to the global financial crisis of 2007-2008. The corrective developments in this regard were of three types:

(1) there is a consolidation in the market for “green rating agencies”, which should inaugurate a uniform set of analyzes; (2) LMA takes a more active role, as noted above, by providing documentary advice to participants on obtaining true accreditation and; (3) in December 2019, the EU published its “taxonomy” report, a classification system that should confer legitimacy on projects with real ESG references[5].

Ultimately, banks, investors, and airlines will have to convince regulators (and the public) that all ESG funding credentials are genuine.

Technology

While new engine, airframe and fuel technologies have enabled industry to make great strides in reducing the environmental impact of airplanes, the industry remains a significant global emitter of carbon (often cited at around 2% of global emissions, and is expected to increase as a percentage in the future). Before COVID-19, IATA predicted the number of passengers worldwide to double by 2037 to 8.2 billion. These forecasts suggest that the aviation industry will struggle to significantly improve its environmental performance in the medium term.

This creates an inherent difficulty in integrating sustainable financing into the financing of aviation assets and, as mentioned, will make aviation susceptible to constant accusation of “green laundering”. The exciting development of electric aviation technology could usher in a revolution in this regard, but it remains a long-term project, with electric commercial flights not expected for many years to come (largely due to limitations in the existing battery technology).

Social and governance considerations

While the aviation industry’s biggest challenge with regard to ESG factors may be its environmental performance, social and governance factors remain important considerations for ESG ratings and access to ESG finance. From a compliance perspective, ESG principles require management structures that reflect transparency, accountability and balance of power, while adopting fair policies for risk management, compensation, employee relations and decision-making at director and shareholder level. From a social responsibility perspective, many airlines, like other companies, have historically focused on corporate social responsibility initiatives focused on the environment, community education and social mobility. However, ESG rating agencies will also focus on diversity and inclusion in the airline’s ranks, human rights considerations (primarily in the treatment of employees and suppliers) and consumer protection. .

Prospects for aviation financing

The fact that aviation is an inherently carbon-emitting industry has sparked strong opinions from some that it should not currently be considered for ESG accredited funding under any conditions.

Conversely, the benefits of a true accreditation of ESG financing should perhaps be better perceived as an incentive for the industry to improve its environmental impact. In this way, ESG incentives in financing and investment create an opportunity for aviation industry players to strive to improve the status quo and align with the principle of long-term environmental sustainability.



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CytoDyn Closes $ 28.5 Million Non-Dilutive Convertible Note Funding with Conversion Rate of $ 10.00 Per Share Without Warrants http://www.dssoundlabs.com/cytodyn-closes-28-5-million-non-dilutive-convertible-note-funding-with-conversion-rate-of-10-00-per-share-without-warrants/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/cytodyn-closes-28-5-million-non-dilutive-convertible-note-funding-with-conversion-rate-of-10-00-per-share-without-warrants/ VANCOUVER, Washington, July 29, 2020 (GLOBE NEWSWIRE) – CytoDyn Inc. (OTC.QB: CYDY), (“CytoDyn” or the “Company”), a biotechnology company in the late stage of development of leronlimab (PRO 140), a CCR5 antagonist with potential for multiple therapeutic indications, today announced that it has finalized a new non-dilutive convertible debt offering with an institutional investor, which […]]]>


VANCOUVER, Washington, July 29, 2020 (GLOBE NEWSWIRE) – CytoDyn Inc. (OTC.QB: CYDY), (“CytoDyn” or the “Company”), a biotechnology company in the late stage of development of leronlimab (PRO 140), a CCR5 antagonist with potential for multiple therapeutic indications, today announced that it has finalized a new non-dilutive convertible debt offering with an institutional investor, which provides $ 25 million of immediately available capital. The note, with a two-year maturity, bears interest at a rate of 10% per annum and is secured by all the assets of the Company, excluding its intellectual property. The Note may be converted at the option of the investor into common shares of the Company at a conversion price of $ 10.00 per share.

Nader Pourhassan, Ph.D., President and CEO of CytoDyn, said, “We are very pleased with the continued support and great confidence shown by the fourth round of funding this institution with us. They clearly understand the opportunity before us and we now have the cash flow to accelerate our business plan without tapping into the increased share authorizations recently approved by our shareholders. This capital injection will help us provide leronlimab to patients as soon as the regulatory path is clear for potentially COVID-19 (for three different populations), cancer (23 different indications) and HIV (combination, monotherapy, treatment of HIV and Prep) . I am very happy to share with all of our stakeholders the enthusiasm we have around our COVID-19 therapies during tomorrow’s conference call, as well as our expected timelines. “

About coronavirus disease 2019
CytoDyn has met its goal of recruiting 75 patients in its Phase 2 clinical trial for COVID-19, a randomized clinical trial for the mild to moderate COVID-19 population in the United States and recruitment continues in its randomized clinical trial of phase 2b / 3 for severe and critically ill COVID-19 population in several hospitals across the country.

SARS-CoV-2 has been identified as the cause of an outbreak of respiratory disease first detected in Wuhan, China. The origin of SARS-CoV-2 causing COVID-19 disease is uncertain and the virus is highly contagious. COVID-19 is typically transmitted from person to person through respiratory droplets, typically resulting from coughing, sneezing, and close personal contact. Coronaviruses are a large family of viruses, some causing disease in humans and others circulating among animals. For confirmed COVID-19 infections, symptoms include fever, cough, and shortness of breath. Symptoms of COVID-19 can appear as little as two days or up to 14 days after exposure. Clinical manifestations in patients have ranged from nonexistent to severe and fatal. Currently, there are minimum treatment options for COVID-19.

About Léronlimab (PRO 140)
The FDA has granted Fast Track designation to CytoDyn for two potential indications of leronlimab for life-threatening illnesses. The first as a combination therapy with HAART for HIV infected patients and the second is for triple negative metastatic breast cancer. Leronlimab is an experimental humanized IgG4 mAb that blocks CCR5, a cellular receptor important in HIV infection, tumor metastasis and other diseases, including NASH. Leronlimab has completed nine clinical trials in over 800 people, including achievement of its primary endpoints in a pivotal phase 3 trial (leronlimab in combination with standard antiretroviral therapy in previously treated HIV-infected patients ).

In the context of HIV / AIDS, leronlimab is an inhibitor of viral entry; it masks CCR5, thereby protecting healthy T cells from viral infection by preventing the predominant HIV subtype (R5) from entering these cells. Leronlimab has been the subject of nine clinical trials, each of which has shown that leronlimab can significantly reduce or control the viral load of HIV in humans. The leronlimab antibody appears to be a potent antiviral agent potentially resulting in fewer side effects and less frequent dosing requirements compared to daily drug therapies currently in use.

In cancer, research has shown that CCR5 may play a role in tumor invasion, metastasis and control of the tumor microenvironment. The increased expression of CCR5 is an indicator of disease status in several cancers. Published studies have shown that blocking CCR5 can reduce tumor metastasis in laboratory and animal models of aggressive breast and prostate cancer. Leronlimab reduced human breast cancer metastasis by over 98% in a murine xenograft model. CytoDyn is therefore conducting a phase 1b / 2 human clinical trial in triple-negative metastatic breast cancer and obtained the Fast Track designation in May 2019.

The CCR5 receptor appears to play a central role in modulating the traffic of immune cells to sites of inflammation. It can be crucial in the development of acute graft versus host disease (GvHD) and other inflammatory conditions. Clinical studies by others support the concept that blocking CCR5 using a chemical inhibitor may reduce the clinical impact of acute GvHD without significantly affecting the transplant of transplanted bone marrow stem cells. . CytoDyn is currently conducting a Phase 2 clinical study with leronlimab to further support the concept that the CCR5 receptor on transplanted cells is essential for the development of acute GvHD, preventing the CCR5 receptor from recognizing specific immune signaling molecules is a viable approach to alleviate acute GvHD. . The FDA has granted an “orphan drug” designation to leronlimab for the prevention of GvHD.

About CytoDyn
CytoDyn is an advanced biotechnology company developing innovative treatments for multiple therapeutic indications based on leronlimab, a new humanized monoclonal antibody targeting the CCR5 receptor. CCR5 appears to play a critical role in the ability of HIV to enter and infect healthy T cells. The CCR5 receptor also appears to be involved in tumor metastasis and immune-mediated diseases, such as GvHD and NASH. CytoDyn has successfully completed a pivotal phase 3 trial with leronlimab in combination with standard antiretroviral therapy in previously treated HIV-infected patients. The Company is working diligently to provide the information required by the FDA to resubmit its biologic license application for this combination therapy. CytoDyn is also conducting a phase 3 investigative trial with leronlimab as monotherapy once a week for patients with HIV infection. CytoDyn plans to initiate a registration-led study of the indication for leronlimab monotherapy. If successful, it could support a label extension. Clinical results to date from several trials have shown that leronlimab can significantly reduce the viral load in people with HIV infection. No serious drug-related injection site reactions have been reported in approximately 800 patients treated with leronlimab and no drug-related SAEs have been reported in patients treated with a 700 mg dose of leronlimab. In addition, a phase 2b clinical trial has shown that leronlimab as monotherapy can prevent viral leakage in HIV-infected patients; some patients on leronlimab monotherapy remained virally suppressed for more than five years. CytoDyn is also conducting a phase 2 trial to evaluate leronlimab for the prevention of GvHD and a phase 1b / 2 clinical trial with leronlimab in triple negative metastatic breast cancer. More information on www.cytodyn.com.

Forward-looking statements
This press release contains certain forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and phrases that reflect optimism, satisfaction or disappointment with current prospects, as well as words such as “believes”, “hopes”, “intention”, “believes”, “expects” to ”,“ plans ”,“ plans ”,“ anticipates ”and their variations, or the use of the future, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Forward-looking statements specifically include statements about leronlimab, its ability to have positive health results, the possible results of clinical trials, studies or other programs or the ability to continue such programs, the ability to obtain regulatory approval for commercial sales and the market for actual commercial sales. The Company’s forward-looking statements are not guarantees of performance, and actual results could differ materially from those contained or expressed by such statements due to risks and uncertainties, including: (i) Company, (ii) the ability to raise additional capital to finance its operations, (iii) the ability of the Company to honor its debts, if any, (iv) the ability of the Company to enter into partnership agreements or licensing with third parties, (v) the Company’s ability to identify patients to enroll in its clinical trials in a timely manner, (vi) the Company’s ability to obtain approval of a salable product, (vii ) the design, implementation and conduct of the Company’s clinical trials, (viii) the results of the Company’s clinical studies clinical trials, including the possibility of adverse clinical trial results, (ix) the market and the marketing of any approved product, (x) the existence or development of vaccines, drugs or other treatments that are considered by healthcare professionals or patients to be superior to the Company’s products, (xi) regulatory initiatives, compliance government regulations and regulatory approval process, (xii) general economic and business conditions, (xiii) changes in foreign, political and social conditions, and (xiv) various other matters, many of which are beyond the control of the Company. The Company urges investors to specifically consider the various risk factors identified in its most recent Form 10-K, and any risk factors or caveats included in any subsequent Form 10-Q or 8-K, filed with the Securities and Exchange Commission. Except as required by law, the Company assumes no responsibility to update forward-looking statements to reflect events or circumstances that occur after the date of this press release.

CYTODYNE CONTACTS
Investors:
Cristina De Leon
Office: 360.980.8524, ext. 106
Mobile: 503.214.0872
cdeleon@cytodyn.com



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Credit managers who embrace aviation investing face an uncertain future http://www.dssoundlabs.com/credit-managers-who-embrace-aviation-investing-face-an-uncertain-future/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/credit-managers-who-embrace-aviation-investing-face-an-uncertain-future/ NEW YORK, April 7 (LPC) – In the years following the global financial crisis, private debt managers have added a myriad of strategies to their product line, including niche strategies like aircraft investing, a industry now at the epicenter of the fallout from the coronavirus pandemic. Attracted by higher returns on investment during years of […]]]>


NEW YORK, April 7 (LPC) – In the years following the global financial crisis, private debt managers have added a myriad of strategies to their product line, including niche strategies like aircraft investing, a industry now at the epicenter of the fallout from the coronavirus pandemic.

Attracted by higher returns on investment during years of low interest rates, some of the most prominent private debt managers, including Carlyle Group, KKR and Apollo Global Management, have found their way into the industry.

Aircraft leasing and aircraft asset-backed securities are the primary investment strategies. The first is the way airlines finance their planes, the second a way for credit managers to finance aircraft acquisitions.

Aircraft rental returns may depend on the age and type of aircraft. Younger and smaller planes earn the least at 3 to 5%, and older and bigger planes the most at 10 to 12%, according to a survey by British aviation finance research firm Ishka .

According to a research paper by Guggenheim Partners, airplane ABS have different levels of debt varying depending on risk, and each level can earn more than 2% more than comparable corporate bonds.

Capital came from various places: Carlyle dedicated private funds, while KKR committed capital from its credit and infrastructure funds, in addition to its Business Development Company (BDC), which Apollo also has. made.

The unprecedented health crisis is forcing aviation investors to take up its most important challenge in years. For the week of March 30, departures worldwide and to the United States fell by nearly half and a quarter, respectively, according to flight data tracker OAG. Demand was down around the world every week in February and March.

Fitch Ratings last month attributed a negative outlook to aircraft lessors, who had a stable outlook at the start of the year. Growth in passenger traffic and strong liquidity positions contributed to this change.

“Fitch is concerned about short-term downward pressure on lessors given significantly reduced travel demand, potential airline failures, increased repossessions resulting in impairments and less access. favorable to capital markets, ”said Johann Juan, analyst for the rating company whose coverage includes aircraft leasing, said in an interview.

Industry watchers will closely monitor the quality of the portfolio and the potential for depreciation in aircraft values.

“The growth in aircraft leasing then squeezed rental returns, contributing to an increasingly shrinking margin of safety for the industry,” said David Petu, a second analyst at Fitch who covers aircraft leasing. ‘planes.

Carlyle acquired aircraft lessor Apollo Aviation Group – unrelated to Apollo Global Management – in October 2018. The company, now known as Carlyle Aviation Partners, is raising its fifth private fund, targeting $ 850 million, according to investment documents a Pennsylvania State Pension Fund. He aims for an annual return of 12.6% to 14%.

Carlyle closed several ABS deals in 2019, including a US $ 540 million deal last fall that funded the acquisition of 29 aircraft. So far this year, the company has completed a transaction.

Aviation fund structures are often long term and can likely get through tough times, said an aircraft leasing fund manager. ABS structures “continue to hold up well,” and the industry also has dry powder to deploy once the atmosphere stabilizes, the official said.

SOURCE OF CAPITAL

In addition, KKR announced a US $ 1 billion commitment to Altavair Finance in January 2019, establishing a platform to acquire aircraft served by Altavair, an aircraft lessor.

KKR aimed to be “cautious” about financing, which included bank debt and aircraft ABS, of its Altavair acquisitions, a fund manager familiar with the matter said. This effort put the company in a better position to weather the crisis, he said.

In addition, KKR’s BDC, FS KKR Capital Corp, has a joint venture with DVB Bank which owns 38 planes, according to a fund report. It also refinanced some of its debt with an ABS transaction in February, according to a pre-sale report from S&P Global.

The $ 2 billion stimulus bill passed by Congress last month may have little effect on the aircraft ABS market, despite the fact that it contains billions of US dollars to support the industry air transport, said Patrick Wacker, portfolio manager who invests in aircraft ABS at Insight Investment.

“The majority of these underlying (securing transactions) pools are centered on smaller operators in emerging markets which are very unlikely to be bailed out,” he said.

The largest portfolio positions for Apollo’s BDC, Apollo Investment Corp (AINV), are in aircraft lessor Merx Aviation. AINV’s investment in Merx represents 12% of its portfolio, according to a March 26 letter to its stakeholders. Merx has a “well-diversified, high-quality fleet” that will “enable it to” overcome the challenges of today, “AINV CEO Howard Widra wrote in the letter.

Apollo also bought PK AirFinance, another aviation loan company, from GE Capital in December.

Representatives for Carlyle, KKR and Apollo declined to comment.

The fallout from the coronavirus has plunged aircraft investors into uncharted waters. The pandemic represents the biggest blow to the aviation investment industry, Insight’s Wacker said.

“It’s the biggest shock I’ve seen. It is much more serious than September 11, it is much more serious than the financial crisis, ”he declared.

“The difference here is that the financial crisis has not immobilized entire fleets of planes across countries. I think many of us are wondering, will the United States block all non-essential air travel? That was never a question that was asked in 2008. ”(Reporting by Andrew Hedlund. Editing by Kristen Haunss and Michelle Sierra)



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Attempted Seizure of Air Namibia Assets on 1998 Boeing 767 Debt http://www.dssoundlabs.com/attempted-seizure-of-air-namibia-assets-on-1998-boeing-767-debt/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/attempted-seizure-of-air-namibia-assets-on-1998-boeing-767-debt/ February goes from bad to worse for Air Namibia. Having had to cease operations last week, the former Namibian national airline has now found itself in a new impasse. Specifically, attempts are underway to seize the assets of the Windhoek-based carrier. The case dates back to an unpaid debt she incurred after leasing a Boeing […]]]>


February goes from bad to worse for Air Namibia. Having had to cease operations last week, the former Namibian national airline has now found itself in a new impasse. Specifically, attempts are underway to seize the assets of the Windhoek-based carrier. The case dates back to an unpaid debt she incurred after leasing a Boeing 767 in the late 1990s.

Air Namibia had operated long-haul flights to European destinations such as Frankfurt using Airbus A330s. Photo: Oliver Holzbauer via Flickr

$ 17 million in unpaid debt

Reuters reported earlier today that a Belgian creditor was trying to seize the assets of recently liquidated Air Namibia. The lawyers who wish to do so also represent the defunct Belgian airline ChallengeAir. This decision represents the latest step in an ongoing struggle between the two carriers that has lasted for more than two decades.

The case dates back to a lease agreement in 1998, which saw the Namibian national carrier take a Boeing 767. However, after finding the plane to be faulty, Air Namibia decided to cancel the lease. However, as of last October, it still owed ChallengeAir more than N $ 250 million ($ 17 million) in lease debt.

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Air Namibia Airbus A330 Frankfurt 2
Air Namibia ceased operations last week after being wound up. Photo: Cityswift via Flickr

These debts prompted ChallengeAir to seek the liquidation of Air Namibia. It initially survived an attempted liquidation in January, after reaching a € 10million ($ 12.14million) settlement agreement. Air Namibia was due to pay the first 5.8 million euros ($ 7 million) yesterday, with the rest being paid monthly until next January.

Non-compliance with the rules

However, the carrier did not honor this agreement. Thus, the lawyers of ChallengeAir have advanced in their attempts to seize the headquarters of Air Namibia. Namibian Finance Minister Iipumbu Shiimi, according to Reuters, values ​​the airline’s assets at N $ 981 million ($ 67 million). The seat that Belgian lawyers seek to seize represents 45 million Namibian dollars (3 million dollars) of that total.

In addition to the legal issues regarding ChallengeAir, Air Namibia also faces the fallout from its recent demise. The carrier, which Finance Minister Shiimi called “unsustainable”, finally ceased flights and entered voluntary administration Last week. Unions quickly requested the annulment of this decision, and plan demonstrations of solidarity with the 650 employees who are expected to lose their jobs due to the liquidation.

Boeing 747 of Air Namibia Frankfurt
Air Namibia operated this particular Boeing 747-400 between 1999 and 2004. Photo: Konstantin von Wedelstaedt via Wikimedia Commons

A diversified fleet over the years

According to Planespotters.net, Air Namibia had a fleet of nine aircraft at the time of its liquidation. It was the next plane.

  • Airbus A319 x3.
  • Airbus A330 x2.
  • Embraer ERJ-145 x4.

However, since its inception in 1946, the Namibian national carrier has operated an interesting and diverse range of aircraft. Perhaps the most iconic of these were his Boeing 747s, of which he flew six in three variants between 1991 and 2004. Single Flying took a closer look Air Namibia’s 747 fleet Last week.

Overall, the future remains uncertain for the airline. The request for annulment of the liquidation may portend better days, but, for now, the planned asset seizure by Belgian creditors remains a very real threat.

What do you think of the attempted seizure of Air Namibia’s assets? Have you ever flown with the airline? Let us know your thoughts and experiences in the comments.





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Jet Leasing Reshuffle Looms As AerCap and GE Unit Discuss Merger http://www.dssoundlabs.com/jet-leasing-reshuffle-looms-as-aercap-and-ge-unit-discuss-merger/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/jet-leasing-reshuffle-looms-as-aercap-and-ge-unit-discuss-merger/ PARIS (Reuters) – Aircraft leasing is on the verge of its biggest upheaval in nearly a decade as its two main players, AerCap Holdings and General Electric Co’s GECAS, discuss a deal to forge a industry titan with more than 2,000 jets the deal said on Monday. FILE PHOTO: A General Electric aircraft used to […]]]>


PARIS (Reuters) – Aircraft leasing is on the verge of its biggest upheaval in nearly a decade as its two main players, AerCap Holdings and General Electric Co’s GECAS, discuss a deal to forge a industry titan with more than 2,000 jets the deal said on Monday.

FILE PHOTO: A General Electric aircraft used to test jet engines is shown at Victorville Airport in Victorville, California, United States, March 26, 2019. REUTERS / Mike Blake

Discussions of a tie-up follow years of speculation over a GECAS sale and come as COVID-19 is expected to move more of the global airliner fleet from the balance sheets of indebted airlines to the arms of the world. $ 60 billion leasing industry.

Aircraft lessors, who typically lease aircraft for up to 12 years at a time, already account for around half of deliveries of aircraft built by Airbus SE and Boeing Co.

The two sides have been in talks since late last year, one of the sources said. If negotiations are successful, an agreement on all actions could be reached as early as this week, another source added.

The Wall Street Journal, which first announced the possible deal, said the deal could be as high as $ 30 billion.

GE said he had not commented on the speculation. AerCap did not respond to requests for comment.

Irish-listed shares of AerCap closed trading on Monday with a gain of 13.2%. Shares of GE closed 4.2% higher, compared with a 0.5% decline in the S&P 500 index.

AN AMBITIOUS EXPANSION

AerCap is the world’s largest owner of commercial aircraft, with 1,080 aircraft directly on its books or managed on behalf of third parties. GECAS has 984 planes owned or managed, according to British consulting firm IBA Group.

The proposed merger would mark AerCap’s most ambitious expansion under the leadership of tenacious CEO Aengus Kelly, who in 2013 struck a deal to buy its biggest rival, Los Angeles-based International Lease Finance Corp, after the financial crisis.

It would also involve GE CEO Larry Culp’s latest move to offload operations and reduce debt since taking over the struggling conglomerate in 2018. GE has already taken steps to reduce its exposure to the market. aircraft financing.

Vertical Research Partners analyst Rob Stallard said the resulting giant would be the “mother of all leasing companies.”

However, if a deal is struck, its size could attract the attention of antitrust regulators as AerCap and GECAS are already almost twice the size in terms of fleets as the third largest player in the industry, Dublin-based Avolon, analysts said.

“The main question mark will be around the antitrust implications,” said Bertrand Grabowski, a former senior aviation banker turned independent adviser.

“One option for AerCap will be to have several hundred aircraft over time to comply with possible antitrust requirements,” he added.

CONSOLIDATION

A mega-merger in the leasing industry could also boost consolidation in an industry that has seen multiple takeovers in recent years.

“They will all think there is likely to be more consolidation,” IBA Group chairman Phil Seymour said of small donors, adding that it was “the natural impact of a downward cycle. “.

Major leasing companies envision growth as airlines focus on repairing balance sheets wrecked by declining air travel during the COVID-19 pandemic, even as vaccines have been the talk of a recovery.

Singaporean bank DBS Group has said it expects aircraft lessors to emerge significantly stronger from the crisis, but warned that weak airline finances meant some lessors would face problems. to collect money from carriers or would be forced to accept late payments.

Kelly told investors last week that the vast majority of AerCap customers pay their bills.

Reporting by Tim Hepher and Laurence Frost in Paris, and Rachit Vats in Bengaluru; Additional reports by Bhargav Acharya, Anshuman Daga and Alexander Cornwell; Written by Tim Hepher; Editing by David Goodman and Matthew Lewis



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Ecological pain: how are we going to finance sustainable aviation fuel? http://www.dssoundlabs.com/ecological-pain-how-are-we-going-to-finance-sustainable-aviation-fuel/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/ecological-pain-how-are-we-going-to-finance-sustainable-aviation-fuel/ In an article published a few weeks ago on “How Technology Became Important for Green Energy,” the Financial Times referred to a report published in February by Lancaster University and Small World Consulting, which revealed that the information and communication technology sector (ie IT) ”is estimated at approx. 1.8 to 2.8% of global GHG emissions […]]]>


In an article published a few weeks ago on “How Technology Became Important for Green Energy,” the Financial Times referred to a report published in February by Lancaster University and Small World Consulting, which revealed that the information and communication technology sector (ie IT) ”is estimated at approx. 1.8 to 2.8% of global GHG emissions in 2020 ”[1]. This, the FT noted, “is about the same as emissions from the aviation sector.”[2].

Always greener …

The article discusses the progress made by big tech companies like Amazon, Facebook, Google, Microsoft and Apple in greening their energy sources, using their incredible purchasing power to begin “to achieve something that matches to the lofty ideals they once espoused “. By becoming green themselves, they are also accelerating the transformation of the entire electricity system ”[3].

Despite the similarity of emissions statistics, we do not yet appear to be at a similar stage of progress in aviation in terms of energy sources. We see a constant stream of reports on the benefits of Sustainable Aviation Fuel (“SAF”) and SAF-powered individual aircraft flights or deliveries, but they all seem to note that despite the benefits we do not have. the ability to produce SAF at the scale needed to make a real difference in emissions, scaling will take a long time, and the scaling process and the fuel itself are too much anyway. expensive.

How bad is that?

The Clean Skies for Tomorrow report, released by the World Economic Forum in collaboration with McKinsey & Company in November 2020, sums up the problem:

In 2019, less than 200,000 metric tonnes of SAF were produced globally, or less than 0.1% of the roughly 300 million tonnes of jet fuel used by commercial airlines. If all publicly announced SAF projects are completed, capacity will increase to at least 4 million metric tonnes over the next several years, reaching volumes of just over 1% of global jet fuel demand forecast in 2030 … It will take time to intensify. , but investment decisions for larger demonstration plants must be made now for these pathways to contribute.[4]

These figures are not encouraging, especially in the context of the Paris Agreement target of net zero carbon emissions by 2050.

In the long run, increasing SAF’s production capacity would reduce the cost of fuel, so that over time, it would be an economically viable product for producers and airlines, and an environmentally viable way forward for airlines. existing aircraft in the industry. But, as the report notes, “hope is not a strategy”.

So what is the strategy?

The motivators described in FT’s article for Big Tech Advances include rivalry, internal employee demand for action, and – most importantly – unusually deep pockets. With aviation reeling from the pandemic rather than benefiting from increased demand as some IT companies are, airlines are unlikely to be able to show customer demand or the financial means to overcome the crisis. double the barrier of time and money on a scale that will make a difference. But we cannot afford to wait, so in the short term, and alongside existing greening initiatives (such as those that the AWG work on), the industry and its financiers will need to be creative.

  • Transition funding: This is a whole new category of loans, separate from green loans or green bonds, and designed to help emissions-intensive industries go from brown to green. As HSBC explains in its white paper on bridging finance, these industries (including aviation) “often lose out in sustainable finance due to a lack of fit between products or a sentiment. cautious of investors ”. “Transitional financing”, directly targeting these hard-to-reduce sectors, appeared to be a way to bridge this gap ”[5]. The example given by HSBC is revealing: “… an airline may use a green bond to fund biofuel research, but investors may not be willing to accept funding for a new fleet of less aircraft. carbon emitter ‘[6].

This category of funding focuses on short-term incremental improvements or outcomes (like technology upgrades, process efficiency, etc.), breaking down the larger goal of going green into smaller, more achievable steps. . This can be an attractive solution for financiers looking for ways to meet both their profitability and environmental goals, as it can be more flexible than what we see as green loans in the required use of funds. funds, and in the longer term improve the sustainability of high-performance sectors – such as aviation.

  • After-sales service: There could also be possibilities in the way the pandemic has animated the SPAC (Special Purpose Acquisition Company) market, so much so that the New York Times describes it as “a phenomenon that is transforming finance and businesses. American companies … $ 26 billion in January ‘[7]. Clearly the liquidity is there, and with a potentially monstrous appetite. The article describes a PSPC put in place so that stakeholders are only paid if the company it is buying achieves certain performance targets, so it would appear that the power of these vehicles can be used productively – and can -be directed to the developers, producers and their suppliers of SAF to relaunch the increase in capacity.
  • The life changing magic of getting organized: By continuing to look over the fence at what other industries are doing, we may also be able to take advantage of other developments in transportation, such as shipping. As Catriona Henderson explained in her recent take on (which you can read here), there will soon be 23 signatory banks of the “Poseidon Principles”, representing about 50% of all debt provided to the shipping industry. The principles of Poseidon are:

a global framework to assess and disclose the climate alignment of financial institutions’ shipping portfolios. They establish a common global baseline to quantitatively assess and disclose whether the loan portfolios of financial institutions are in line with adopted climate goals. Thus, they are also an important tool to support responsible decision-making..[8]

We could benefit from a similar organizational force in aviation finance (the “Pegasus Principles”, perhaps?), To stimulate transparency and motivation in lending practices and to focus efforts on funding for green and transitional projects – such as increasing SAF production while we wait for aircraft equipment to evolve.

This is not an exhaustive list of options, but each has the potential to be a valuable step forward on the path from brown to green.



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PSBs explore aircraft financing arm at GIFT http://www.dssoundlabs.com/psbs-explore-aircraft-financing-arm-at-gift/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/psbs-explore-aircraft-financing-arm-at-gift/ Several public sector banks, including the country’s largest lender, the State Bank of India (SBI), are in talks with the government to set up aircraft leasing arms at the International Financial Services Center (IFSC) in GIFT City (Gujarat), two people with knowledge of the matter said Mint. The State Bank of India is considering setting […]]]>


Several public sector banks, including the country’s largest lender, the State Bank of India (SBI), are in talks with the government to set up aircraft leasing arms at the International Financial Services Center (IFSC) in GIFT City (Gujarat), two people with knowledge of the matter said Mint.

The State Bank of India is considering setting up a new aircraft rental business in the town of GIFT, a senior bank official said on condition of anonymity.

“SBI has funded airlines but not aircraft leasing. Due to the current circumstances, banks are unwilling to finance airlines although the industry is expected to rebound after the pandemic, ”the person said.

“Right now, SBI is looking at aircraft leasing and corporate tax issues. We look at it (aircraft rental) and take a call based on the viability model, ”the person added.

Questions sent to the SBI spokesperson, however, remained unanswered until the time of publication.

Big Indian public sector banks like SBI have funded airlines to buy planes. However, under current regulations, these banks are only allowed to do aircraft debt financing.

But that is about to change with the International Financial Services Center Authority (IFSCA), the regulator of GIFT city, which presents a draft regulation allowing financial services companies to conduct aircraft rental transactions.

The IFSCA has authorized banks to open aircraft rental operations in the city of GIFT, an IFSCA official said on condition of anonymity.

“Non-financial entities can also license and start the business or go for a joint venture with foreign donors or set up a wholly owned subsidiary to run the business,” the official said.

“The regulator ensures parity with other IFSCs in terms of exemption from capital gains tax, GST, etc.”, added the official.

As of November 2020, Indian airlines had more than 700 aircraft in their fleets, according to data from Economic Survey 2021-22.

Major Indian airlines, including the leading national operator IndiGo, which have a huge aircraft order book, are selling and leasing (SLB) aircraft to keep it lightweight and profitable.

An SLB is a transaction in which the owner sells the aircraft and then leases it back to the buyer. This type of agreement usually removes the aircraft and its associated debt from the carrier’s balance sheet.

Indian carriers also regularly lease planes to foreign lessors in Ireland, Dubai (UAE) and China, among others.

In an effort to encourage aircraft lessors to relocate to India, the government earlier this month, in its union budget, introduced tax incentives and other benefits, including tax exemptions on capital gains for companies setting up in GIFT City.

The government, however, wants to regulate the aircraft rental business in the long term. To this end, it is also in discussions with major Indian banks including the SBI to set up a leasing branch in the city of GIFT, a senior civil aviation ministry official said on condition of anonymity. .

“It now appears that foreign lessors are financing all of the aircraft leasing activities in India. In order to provide a level playing field, tax exemptions for aircraft rental companies have been granted to the city of Gift, ”the official said.

“Rental transactions need to be regulated. So it can be monitored (at GIFT City) and we can also see the feasibility of it, ”the official added.



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After sitting overnight, Canadian government adopts coronavirus emergency aid package http://www.dssoundlabs.com/after-sitting-overnight-canadian-government-adopts-coronavirus-emergency-aid-package/ Thu, 11 Mar 2021 08:11:27 +0000 http://www.dssoundlabs.com/after-sitting-overnight-canadian-government-adopts-coronavirus-emergency-aid-package/ All parties were ready to support the aid plan, but opposition parties challenged provisions that would have given the Liberal government unilateral power to spend, borrow and change tax levels until December 2021. Late Monday night, the Liberals agreed to drop a clause on taxation powers, but that was not enough to satisfy the Conservatives. […]]]>


All parties were ready to support the aid plan, but opposition parties challenged provisions that would have given the Liberal government unilateral power to spend, borrow and change tax levels until December 2021. Late Monday night, the Liberals agreed to drop a clause on taxation powers, but that was not enough to satisfy the Conservatives.

The deal reached Wednesday morning sets a deadline of September 2020 for the government’s power to spend on emergency health measures without parliamentary approval. The government has also agreed to report regularly on spending decisions to parliamentary committees. “The Liberals have shamefully tried to use a public health crisis to give themselves the power to raise taxes, debt and spending without parliamentary approval until January 1, 2022,” Tory Leader Andrew Scheer said in a communicated. “But after hours of negotiation, the government backed down.

After days of rapid decision-making, Tuesday’s roadblock caused a strange, unexpected lull. The House is officially adjourned until April 20 due to the spread of the coronavirus, and just over 30 MPs have been recalled to reconvene the House for this emergency sitting – mostly MPs who live within driving distance and ministers who stayed in Ottawa to deal with the crisis.

For hours, they sat scattered around the room which normally holds 10 times their number. Several came and went over the hours, while others chatted in small groups, keeping a good distance from each other while awaiting the outcome of the negotiations taking place outside the House. “What’s going on, Pablo, are we doing this today or not?” Health Minister Patty Hajdu asked Rodriguez at one point when he made a brief reappearance.

The unexpected delay was, perhaps, a respite for ministers who had little time to stop. The ever-animated Foreign Minister François-Philippe Champagne has told other MPs about war stories about telephone negotiations with foreign governments to bring home Canadians stranded abroad as more and more of countries are closing their airspace. In Peru, which recently entered martial law, Champagne said, planes sent to retrieve Canadians must now land at a military base. “Everything is a problem. There is nothing that works normally, ”he said.

Hajdu spoke candidly with caucus colleagues about the difficulty of scaling up coronavirus testing and getting people to take social distancing seriously. She couldn’t believe people were still getting on cruise ships as the virus was spreading around the world, she said, “For the love of shit people, don’t get on those boxes of Petri! “

But as the day wore on, patience dwindled. Shortly after 5 p.m., Bloc Québécois leader Yves-François Blanchet called a press conference in a room two floors below the House of Commons to express his frustration. He said the parties had agreed on changes on Monday evening that should have been sufficient. “I don’t see a reason why he can’t go ahead now,” he said.

NDP MP Lindsay Mathyssen, who represented her party alongside Leader Jagmeet Singh and another MP, addressed her grievances to the Liberals. “Unfortunately, the government took other things by surprise that we didn’t expect to be negotiated now, so it took longer than we would have liked,” she said in an interview.

However, on Wednesday morning, things were back on track. After swift Senate approval, the bill received Royal Assent on Wednesday afternoon. Trudeau spoke to Canadians in the morning, while Freeland and other ministers held their daily briefing at noon, as usual.

But as the government’s crisis routine settles back into place, it was the hours before the parties reached a deal that were most telling, when ministers had a moment to stop and think.

After the pandemic, Hajdu said, everything else is going to seem easy. “I want to isolate myself socially at home on a lake, but I don’t think I’m going to be able to do it,” she told her colleagues at one point. “The world has gone mad. “

Andy Blatchford and Lauren Gardner contributed to this report.



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