Astronics Corporation, a provider of advanced technologies for global aerospace, defense, and other mission-critical industries, has provided an update on various projects and events impacting 2019 results and expectations for 2020. The Company ended 2019 with un-audited preliminary revenue of approximately US$198 million in the fourth quarter, slightly exceeding the high end of guidance that
Dubai Aerospace Enterprise (DAE) has signed a US$300 million 5-year dual tranche unsecured term financing facility with Emirates Islamic and Emirates NBD Capital, the investment banking arm of Emirates NBD. The facility will contain a conventional and an Islamic tranche and can be upsized to US$600 million. The facility will support the future financing needs
North American toolmaker Stanley Black & Decker has announced it is to acquire Consolidated Aerospace Manufacturing LLC (CAM) for up to US$1.5 billion. CAM is a major supplier of Boeing Co and approximately US$200 million of the purchase price is contingent on Boeing obtaining certification for the still-grounded 737 MAX from the U.S. Federal Aviation
Boeing has posted its first annual loss since 1997 as originally forecast losses of US$8 billion resulting from the grounding of its 737 MAX jet are now approaching US$19 billion, a sum which does not include any likely compensation payout to the families of the 346 victims of both fatal crashes involving the jet. The
Revenues at Textron Aviation of US$1.7 billion were up 11%, primarily due to higher volume and mix, largely reflecting the Longitude’s entry into service. Textron Aviation delivered 71 jets, up from 63 last year, and 59 commercial turboprops, down from 67 last year. Segment profit was US$134 million in the fourth quarter, down from US$170
Airbus has confirmed its intention to settle allegations of bribery brought about by three countries – the U.S., the U.K. and France at the end of a four-year investigation involving the U.S Department of Justice, the U.K. Serious Fraud Office and France’s Parquet National Financier. The agreement is still subject to approval by the courts
Leonardo has signed a contract with Lynwood (Schweiz) AG to acquire 100% of Kopter Group AG (Kopter). This move allows Leonardo to further strengthen its worldwide leadership and position in the rotorcraft sector; leveraging innovation, new capabilities and engineering skills which have been developed by the young, agile Swiss Company. Kopter’s SH09, a new single-engine
Brazil’s Administrative Council of Economic Defense (CADE) has approved Boeing’s acquisition of Brazilian planemaker Embraer’s commercial aviation division without placing any restrictions on the deal, though CAD’s principal administration council could still reconsider the situation and settle the case through a vote. It follows clearance from jurisdictions such as the USA, China, Japan, South Africa,
Helicopter lessor LCI, the aviation division of the Libra Group, has sealed new partnerships with two leading financial institutions as it continues to grow its fleet. The lessor has just taken delivery of a Leonardo AW169 helicopter with financing arranged from new partner, Investec. The state-of-the-art aircraft is being placed with a leading European provider
On January 24, Avia Solutions Group has signed an agreement with the BB Holding ehf., advised by Barons Capital Partners, to acquire 100% of the shareholdings of Bluebird Nordic. Gediminas Ziemelis, Founder and Chairman of the Board of Directors of Avia Solutions Group expressed his contentment, “I am utterly pleased to have had an opportunity
