As a part of the fifteen-year trade spat between the U.S and Europe, the World Trade Commission has granted Washington the right to impose annual tariffs on US$7.5 billion worth of European goods. The immediate consequence is that U.S. carriers who have had long-standing orders with Airbus for the delivery of passenger jets have just
Astronics Corporation, a leading provider of advanced technologies for the global aerospace, defense, and other mission-critical industries, has acquired the primary operating subsidiaries from mass transit and defense market test solution provider, Diagnosys Test Systems Limited (Diagnosys). Diagnosys is a developer and manufacturer of comprehensive automated test equipment (ATE) providing test, support, and repair of
Singapore Technologies Engineering (ST Engineering) has announced that further to its announcement made on March 27, 2019, its subsidiary Singapore Technologies Engineering (Europe) has completed the acquisition of a 100% ownership in Newtec Group NV (Newtec) following the fulfilment of completion conditions, including the receipt of applicable regulatory approvals. This Newtec acquisition, together with the
SGS, the certification, verification, and inspection company, has acquired a majority stake in ARGUS International. The acquisition aims to strengthen SGS’ aviation auditing and consulting services and increase market penetration through the organizations leveraged synergies. “ARGUS is a globally recognized brand name in the airline, business aviation, fixed-wing, and rotary engine markets. Its broad client
Dubai’s state-owned carrier, flydubai, has announced that the continued grounding of the Boeing 737 MAX has put the carrier under unprecedented financial pressure, resulting in a January-to-June loss of US$53.6 million. Prior to the grounding, flydubai had anticipated expanding its current fleet of aircraft to 62, but instead this will only grow to 43 this
China’s Sichuan Dahua acquires Austria’s ‘ArrowCopter’ Sichuan, Dahua. General Aircraft Manufacturing Company of China has successfully acquired the entire assets of the European gyrocopter company, ArrowCopter. T The transaction was brokered by consultants Aerospace Investments Co. Ltd (UK) and Silk Wings Aviation (Beijing), who are now actively assisting in the completion phase. The deal follows
Having ceased all commercial operations and filed for bankruptcy protection earlier this month, leaving 19,000 travelers stranded, Aigle Azur, France’s second-largest carrier, has now closed down. Having immediately been put up for sale, those carriers who expressed interest in Aigle Azur included easyJet and Vueling, while confirmed bids to take over assets were received from
Dubai Aerospace Enterprise (DAE) has signed a US$300 million 7-year unsecured term loan with a group of six banks. Abu Dhabi Commercial Bank served as Initial Mandated Lead Arranger, Bookrunner and Underwriter. The loan will be used to repay secured debt and support the future financing needs of the business. Firoz Tarapore, Chief Executive Officer
With the U.K.s Thomas Cook airline and travel agency now mired in compulsory bankruptcy proceedings, elsewhere the Group’s subsidies are now scrambling to protect themselves from a similar fate. In Germany, a Frankfurt court has instigated investor protection proceedings in a bid to have Condor Flugdienst GmbH (Condor) restructured. Along with Thomas Cook GmbH, Condor
British Airways’ parent company International Airlines Group (IAG) has updated its full-year 2019 operating profit guidance. In a press release, IAG stated that during September, BALPA’s (British Airways main pilots’ union) industrial action initially scheduled for the 9, 10 and 27 of the month, led to an initial cancellation of 4,521 flights over a period
