Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, has amended its joint venture with the Saudi Arabian Mining Company (Ma’aden) in which Alcoa holds a minority, 25.1%. The joint venture was created in 2009 as a fully integrated aluminum complex in the Kingdom of Saudi Arabia, comprised of three entities: the Ma’aden
Japanese low cost carrier Peach Aviation, has released its financial statement for fiscal 2018 (ended on March 31, 2019). Operating income totaled 60,409 million yen (previous year’s result: 54,740 million yen), operating profit was 4,136 million yen (previous year’s result: 5,793 million yen), and current net loss was 193 million yen (previous year’s result: net
Dubai Aerospace Enterprise (DAE) has signed a new long-term unsecured revolving credit facility with First Abu Dhabi Bank PJSC and HSBC Bank Middle East Limited as Bookrunners and Mandated Lead Arrangers. Following an oversubscription in syndication the Facility was closed at an amount of US$440 million with a group of 12 lenders. The Facility will
AerSale®, a global supplier of aircraft, engines, used serviceable material (USM), and maintenance, repair, and overhaul (MRO) services, acquired aircraft parts distributor Qwest Air Parts, Inc. Based in Memphis, Tennessee, Qwest is a recognized leader in aircraft dismantlement and the refurbishment and resale of USM. Qwest has disassembled over 200 aircraft, offers 24/7 AOG service,
TAT Group has sold its majority interest in its subsidiary Sabena technics, one of the European leaders in the field of aircraft maintenance and modification, to the funds Sagard, Bpifrance and TowerBrook. This shareholder evolution is an important step for Sabena technics’ development by reinforcing its growth opportunities while accompanying it in the successful implementation
Japan’s Mitsubishi Heavy Industries (MHI) has agreed to purchase the Bombardier Canadair Regional Jet (CRJ) Program, a move which will see the Canadian plane and train maker now focus its entire operations on profitable business jets and passenger rail cars. MHI has agreed to pay US$550 million for the CRJ Program while also taking over
Struggling to compete with the likes of Ryanair, easyJet and Wizz on pricing since taking over large parts of Air Berlin, Lufthansa is looking to restructure its low-cost subsidiary in a bid to reduce running costs by up to 15 percent over the next three years. In concentrating more on short-haul flights, the intention is
Rolls-Royce has entered into an Agreement to purchase Siemens’ eAircraft business responsible for electric and hybrid-electric aerospace propulsion. Expected to complete in late 2019, Rolls-Royce sees this as a strategic move to enable the engine manufacturer to play a leading role in the ‘third era’ of aviation. Siemens’ eAircraft business is located in both Germany
Avia Solutions Group, a global multipurpose aviation holding, has entered into an agreement to acquire 100 per cent of the shareholding in UK-headquartered Chapman Freeborn Group – a worldwide market leader for aircraft charter solutions. The acquisition agreement was signed in London, United Kingdom on June 14, 2019. The addition of Chapman Freeborn’s worldwide businesses
Hybrid, safe and practically noiseless: These are the attributes of an innovative small aircraft, dubbed Silent Air Taxi, e.SAT GmbH, a company based in Aachen, Germany, plans to bring to the market. The new air taxi, which is capable of carrying five passengers, was presented to the public for the first time last week. On
