Karman Space & Defense (Karman) backed by Dallas-based private equity firm Trive Capital (Trive), has partnered with Cornerstone Research Group (CRG) to acquire the MG Resin-family of technologies. The acquisition of MG Resins represents a significant expansion of Karman’s core competencies in integrated composite systems for space & defense applications and creates a leading manufacturer
At one point on Monday the share value of Bombardier Inc, the Canadian business jet manufacturer, fell by up to 17.4% after workers on the critical Challenger business jet programme downed tools for a day. According to REUTERS news agency, the union representing approximately 1,800 Bombardier workers, the International Association of Machinists and Aerospace Workers,
Battery cell pioneer Britishvolt has signed a sale-and-purchase agreement with the Monbat Group, one of Europe’s leading battery solutions companies, to purchase its subsidiary EAS, the advanced technology battery cell innovator and manufacturer based in Nordhausen, Germany. The agreement values EAS at €36 million (£30.8 million) and is subject to completion and any regulatory approvals.
In a period of under two years, Comair has become the second South African carrier to cease operations after low-cost carrier Mango ceased operations in July 2021. Covering approximately 40% of South Africa’s domestic air travel, Comair, operating as a franchisee under the name British Airways, is the parent company of low-cost carrier Kulua.com., which
Swiss International Air Lines (SWISS) has terminated its bank loan facility guaranteed by the Swiss Confederation at the end of May 2022. With the pandemic situation now more stable and with the eased travel restrictions prompting positive trends in the company’s liquidity, SWISS is now able to meet its financing needs on the capital markets
Spirit Airlines has announced that it postponed its Special Meeting of Stockholders from June 10, relating to the proposed merger agreement with Frontier Group Holdings, until June 30, 2022 at 9 AM ET. The Special Meeting was postponed to allow the Spirit Board of Directors to continue discussions with Spirit stockholders, Frontier and JetBlue Airways
The Swedish government, a major stakeholder in Scandinavian Airlines (SAS), has refused a request by the carrier for an injection of much-needed cash as part of a major restructuring deal announced in February. Both the Swedish and Danish governments have a 21.8% equity stake in SAS and Swedish industry minister Karl-Petter Thorwaldsson told a news
JetBlue Airways Corp (JetBlue) has substantially increased its offer for ultra-low-cost carrier Spirit Airlines (Spirit), ahead of this Friday’s shareholder vote with respect to Frontier Group Holdings’ (Frontier) offer for Spirit. JetBlue is trying to woo Spirit’s current staff with the promise of better pay and benefit, additional jobs, no furloughs and improved career development,
The UK Competitions and Market Authority (CMA) has concluded its investigation into the acquisition of Babcock’s UK, Denmark and Australian operations by the U.S.-based operator CHC Group (CHC). As a consequence, the CMA has informed CHC it must divest itself of all UK-related oil and gas operations, citing the acquisition’s adverse effect on rivalry. CHC
Spirit Airlines and Frontier Group Holdings, parent company of Frontier Airlines, have announced an amendment to their previously announced merger agreement dated February 5, 2022. Under the terms of the amended merger agreement, which has been unanimously approved by the boards of directors of both companies, Frontier would pay a reverse termination fee of US$250
