In a move that will bring in substantial investment at an optimum time, Sir Richard Branson’s Virgin Galactic is to merge with Social Capital Hedosophia Holdings Corp (SCH), a special purpose acquisitions company. SCH will hold a 49% stake in the company while Virgin Galactic will retain a 51% stake and the new company plans
Astronics Corporation has signed a definitive agreement under which Hughey & Phillips, LLC, will acquire the Airfield Lighting product line from Astronics. The transaction, subject to customary closing conditions and adjustments, is expected to close on or before July 12, 2019. Peter J. Gundermann, Chairman, President and Chief Executive Officer, commented, “As we continue to
British Airways (BA), part of the International Airlines Group (IAG) has been hit with a proposed £183 million (US$229 million) fine for a data breach which saw the credit card details, including the card number, expiry date and three-digit CVV security code, stolen from the reservations system for passengers who booked directly with the carrier
Lease Corporation International (LCI), the aviation division of the Libra Group, has successfully closed a new asset-backed helicopter financing facility in excess of US$75 million. The new facility, led by CaixaBank along with a consortium of financial institutions, was arranged by National Westminster Bank Plc as part of an oversubscribed financing, and will be used
Falko Regional Aircraft, an aircraft operating leasing and asset management company, has reached a final close on Falko Regional Aircraft Opportunities Fund II with total commitments of US$650 million. The Fund will make investments in regional aircraft leased globally. Falko significantly surpassed its original target of US$600 million and received commitments from a diverse group
HEICO Corporation has released that its Buc, France-based 3D PLUS subsidiary has acquired substantially all of the assets and business of Bretigny-sur-Orge, France-based BERNIER, SAS in an all cash transaction. 3D PLUS is part of HEICO’s Electronic Technologies Group. No further financial details were disclosed, but HEICO expects the acquisition to be accretive to its
Boeing has announced US$100 million in funds to address family and community needs of those affected by the tragic accidents of Lion Air Flight 610 and Ethiopian Airlines Flight 302. These funds will support education, hardship and living expenses for impacted families, community programs, and economic development in impacted communities. Boeing will partner with local
Volotea, the Spanish airline of mid and small-sized European cities, has implemented a set of measures that include the coordination of flight operations, new and improved passenger services and new additions to the onboard experience that will improve customers’ satisfaction and travel experience. The company has invested €15 million to launch these improvements ahead of
Astronics Corporation has acquired Freedom Communication Technologies, Inc. (FCT), a developer and manufacturer of communication test equipment for the land-based mobile radio test market, providing innovative solutions to Long-Term Evolution (LTE) high-speed wireless communications customers globally. Astronics has acquired 100% of the equity of FCT for US$22 million in cash. Based in Kilgore, TX, FCT
Air Canada and Transat A.T. have concluded a definitive Arrangement Agreement that provides for Air Canada’s acquisition of all issued and outstanding shares of Transat and its combination with Air Canada. Under the terms of the binding agreement, unanimously approved by the Board of Directors of Transat, Air Canada will acquire all outstanding shares of
