Airbus has acquired industrial automation company, MTM Robotics, for an undisclosed sum. The move deepens Airbus’ commitment to expanding advanced robotics capabilities within its manufacturing processes. The MTM business will retain its current leadership and 40-person staff, as well as its facility in Mukilteo, Washington, near Seattle. The acquisition is the latest chapter in a
Air Partner plc, the global aviation services group, has acquired the entire issued share capital of Redline Worldwide Limited, trading as Redline Assured Security (together “Redline”), a global aviation security solutions and training company. The total consideration payable by Air Partner is up to £10.0 million, on a debt free, cash free basis, with an
Seabury Securities, the wholly-owned investment banking arm of Seabury Capital Group (collectively, Seabury Capital) has announced the successful completion of a comprehensive liquidity program for Avianca Holdings (Avianca) that involved reprofiling over US$4.5 billion of lease and debt obligations (excluding debt at Avianca’s LifeMiles subsidiary) as well as securing US$375 million of new financing and
State-owned South African Airways (SAA) has been operating at a considerable loss since 2011 and in the last three years has been the beneficiary of government bailouts totalling some 20 billion rand (US$1.4 billion) which has done little other than allow it to remain operational. On Monday December 12, South Africa’s prime minister, Cyril Ramaphosa
Burnham Sterling, a financial advisory firm specializing in large asset financing, has acted as exclusive financial advisor and placement agent to Hawaiian Airlines for the Japanese yen (JPY)-denominated financings of four Airbus A330 and two A321neo aircraft. “Burnham Sterling helped us execute this very innovative financing with a fixed coupon well under 1.0%,” said Shannon
The Lufthansa Group and gategroup have concluded a purchase agreement for the European business of the LSG Group. The parties have agreed not to divulge the financial details of the transaction. The sale is also subject to the approval of the relevant competition authorities. In addition to the LSG Group’s European catering operations, the purchase
GECAS and Sculptor Capital Management (Sculptor) have announced the closing of STARR 2019-2. Under the terms of the transaction, GECAS is selling twenty in-production Boeing and Airbus narrowbodies to START III Ltd. The diversified portfolio has an average aircraft age of 8.4 years and includes aircraft currently on lease to 17 airlines in 14 countries,
SAS had an unsatisfactory full year result, significantly lower than last year, due to headwinds from higher jet-fuel costs, unfavorable currency movements and a strike. Despite these challenges, SAS’ customer offerings and operational efficiency improvements together with reduced market capacity, especially in the fourth quarter, led to a positive result for the full-year 2019. During
It was two years ago that Sir Richard Branson struck a deal to sell a 31% stake in the then vulnerable Virgin Atlantic to Air France-KLM for approximately 220 million pounds (US$284 million) as part of a three-way venture with Delta Air Lines as Delta Air Lines already held a 49% stake in the carrier.
Norwegian Air Shuttle has signed an agreement for the sale of 100% of its Argentinian subsidiary Norwegian Air Argentina (NAA) to JetSMART Airlines. “We’re taking necessary steps to return to profitability,” said acting CEO Geir Karlsen. JetSMART will assume the NAA operation with immediate effect. To minimize the impact on passengers, JetSMART will continue to
