Reliance Aircraft International (Austin, TX) has released that it has acquired Suncoast Landing Systems Corp. (Suncoast) (in Medley, FL) and formed Suncoast Landing Systems LLC. Established in 2005, Suncoast has capabilities to overhaul and repair commercial landing gear. The management team of Victor Ortega and Larry Wernath will continue to run the day-to-day operations. “We are excited
Germany-headquartered Recaro Group, the seating innovator and specialist which includes Recaro Holding, Recaro Aircraft Seating and Recaro Gaming has announced it generated approaching €270 million in 2021. The Group also predicts a promising 2022 with a projected double-digit growth. At Recaro Aircraft Seating’s four worldwide-located premises nearly 60,000 aircraft seats were manufactured, a slight rise
TAP Air Portugal has posted a net loss of €1.6 billion for 2021, better than forecasted (€1.75 billion), including the recognition of non-recurring costs of €1 billion. The first half of 2021 was marked by severe restrictions on domestic and international mobility due to the COVID-19 pandemic, leading to an almost total grounding of the
Deutsche Lufthansa AG has signed its first Revolving Credit Facility with a broad syndicate of international relationship banks. The total facility amount is €2.0 billion and will be available for a period of three years plus two one-year extension options. Other than customary group guarantees, the facility is unsecured, has no financial covenants and serves
Airbus Defence and Space has acquired DSI Datensicherheit GmbH (DSI DS), a German-based company that provides cryptography and communication systems for Space, Airborne and Naval & Ground that is certified by the Federal Office for Information Security (BSI). The acquisition follows a longstanding partnership between the two companies. DSI DS will be fully owned by
Spirit Airlines has released that it received an unsolicited proposal from JetBlue Airways to acquire all of the outstanding shares of Spirit’s common stock in an all-cash transaction for US$33.00 (£25.00) per share. Consistent with its fiduciary duties, the Spirit Board of Directors will work with its financial and legal advisors to evaluate JetBlue’s proposal
Dubai Aerospace Enterprise (DAE) has successfully closed a new four-year US$1 billion (£760 million) revolving credit facility with a one-year extension option. The facility replaces other facilities with near-term maturity dates and represents DAE’s first facility that is priced with reference to SOFR. The facility attracted strong interest from a broad group of banks and
TITAN Aviation Fuels®, one of the largest suppliers of aviation fuel products in the United States for the past 45 years, has announced the acquisition of AKRYL, an aviation fuel reseller with a world-wide digital fuel procurement platform based in Geneva, Switzerland. TITAN Aviation Fuels, already a well-established aviation fuel brand throughout the United States, will
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
