Boeing has entered into an agreement to acquire California-based EnCore Group, an aerospace interiors company that designs, certifies and produces airplane galleys and seats for airlines and also supplies products and components to Boeing. Boeing’s acquisition of EnCore Group will strengthen internal capabilities and increase innovation within its cabin vertical in order to provide greater
AerCap’s Board of Directors have approved a share repurchase program authorizing total repurchases of up to US$200 million of AerCap ordinary shares through December 31, 2019. Repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable U.S. federal securities laws. The timing of purchases and the
Daher, producer of the TBM family, is taking a major step in developing the company’s airplane manufacturing business with the planned acquisition of Quest Aircraft Company, based in Sandpoint, Idaho, USA, which builds the Kodiak 100. Through this major acquisition, Daher is enhancing its presence in the general and business aviation segment by offering a
Independent jet engine lessor Willis Lease Finance has expanded its US$890 million revolving credit facility to US$1.0 billion. The facility has a 5-year term and is structured with the flexibility to support WLFC’s growing business. Willis Lease and its subsidiaries will use the expanded credit facility to continue growing its lease portfolio, which included nearly
Aircraft leasing company SMBC Aviation Capital, has posted its results for the financial year ended March 31, 2019. The company reported profit before tax of US$344 million for the financial year, an increase of almost 8% year over year and overall income of US$1.1 billion from continuing operations. SMBC has reported the placement of 47
Ryanair has agreed to purchase Malta Air, a Maltese start-up airline, creating a new subsidiary to the Ryanair Group of low-cost carriers in addition to Buzz (Poland), Lauda (Austria) and Ryanair (Ireland). Initially, the new airline will take over all Ryanair’s 61 current routes and operating six aircraft, but this number is expected to increase
GTLK Europe, an Ireland-based international company, engaged in leasing and trading of a wide range of air and sea vehicles, has refinanced three 2015 vintage Boeing 777-300ER aircraft, all subject to long term leases with Aeroflot. The facility was underwritten by DVB Bank SE, PK AirFinance, a GECAS Company, Credit Agricole CIB, The Korea Development Bank
United Technologies Corp and Raytheon Co will merge to create a new company in what is seen as the largest-ever merger in the aerospace sector. Subject to regulatory approval, the deal should go through by the end of the first half of 2020 and will create a company worth an estimated US$121 billion. It is
Only two weeks after another Avianca carrier was forced to suspend operations, Avianca Argentina has obtained governmental approval for a 90-day suspension of all activities while it looks to restructure its business and network model. “With the current aircraft and the competition that exists, it is not viable to continue with the operations,” the CEO
Landing gear manufacturer, Héroux-Devtek, has concluded the acquisition of all the outstanding shares of Montreal-based Alta Precision Inc., a manufacturer of high-precision landing gear components. The transaction, which is subject to final purchase price adjustments, is valued at CA$23 million and was funded through the Corporation’s credit facilities. Héroux-Devtek, with its head office in Longueuil,
