Fraport AG is selling its stake in Xi’an Airport (XIY) in Central China. Under the agreement signed on March 31, Fraport is selling its entire 24.5% stake in Xi’an Xianyang International Airport Co., – the airport’s operating company – to Chang’an Huitong Co., for a price of 1.11 billion yuan (CNY) (£133 million). Fraport AG’s CEO,
Cargojet has entered into a new long-term strategic agreement with DHL Network Operations (USA), an affiliate of Deutsche Post DHL Group, for a term of five years with a renewal option for an additional two years, to provide air-transportation services for DHL’s global network. The agreement is expected to be meaningfully accretive to Cargojet’s earnings
In its published annual report TP Aerospace has shown that the company is on a positive track, after almost two years of crisis in the industry caused by the pandemic. While global aviation remained significantly impacted by the COVID-19 pandemic in 2021, activity grew steadily for TP Aerospace and the company managed a more-than 30%
HEICO Corporation has released that its Flight Support Group has completed the acquisition of Pioneer Industries. On February 10, 2022, HEICO had entered into an agreement, subject to regulatory approval which was subsequently received, to acquire Pioneer. The purchase was completed under previously announced terms. HEICO stated that it expects the acquisition to be accretive
HydrogenOne Capital Growth and Safran Corporate Ventures are pleased to announce that they have signed definitive agreements for a common investment in Cranfield Aerospace Solutions (CAeS) as part of a more than £10 million funding round. HGEN is investing a total of £7 million in this funding round and Safran Corporate Ventures £3.5 million. With
Skyports, the electric air taxi infrastructure and drone services provider, has raised US$23 million (£17.4 million) in the first close of its Series B funding round. The capital, from a combination of new and existing investors, will enable Skyports to consolidate its position as a global leader in the advanced air mobility infrastructure and drone
Turkish Technic, the MRO provider with headquarters in Istanbul, Turkey, has released its financial results for 2021 which marked a successful growth and strong strategic acceleration compared to the previous year. The company recorded a 15.7% growth compared to 2020 with US$1.034 billion (£783 million) in revenue and increased its market share to 1.6%. Showing
Private airport operator VINCI Airports and Arlandastad Group AB, a Swedish real estate group, have signed a purchase agreement for the 90.1% stake in Stockholm Skavsta Flygplats AB held by VINCI Airports, owner of Skavsta Airport (Stockholm’s secondary airport). The agreement is expected to be completed by April 2022 after fulfilment of the conditions precedent.
Leonardo’s US subsidiary Leonardo DRS has signed a definitive agreement to sell its Global Enterprise Solutions business (GES) to SES for US$450 million, gross of taxes, subject to customary working capital adjustments. Closing of the deal is targeted for the second half of 2022 and is subject to customary regulatory approvals, including Hart-Scott-Rodino and the
Textron Inc. the multi-industry company behind brand names such as Bell, Cessna and Beechcraft, headquartered in Wichita, Kansas, has agreed to purchase Slovenia- and Italy-based Pipistrel, the manufacturer of small light aircraft and the Pipistrel Velis Electro, the world’s first and currently only, electric aircraft to receive full type-certification from the European Union Aviation Safety
