Latvian airline airBaltic continued its growth in 2018 and achieved strong financial results. According to the 2018 financial year, airBaltic achieved €400 million revenue, while net income grew by more than 40% compared to 2017, reaching €5.4 million. Martin Gauss, Chief Executive Officer of airBaltic commented: “For the sixth year in a row we are
Aernnova has completed the acquisition of Structural Integrity Engineering (SIE), an aircraft engineering company headquartered in Chatsworth (California) with regional offices in Seattle (Washington) and Madrid (Spain). With this acquisition, Aernnova reinforces its growth strategy in North America and adds engineering and certification expertise that complements its aeronautical engineering division and DOA services. Dr. Matt
Activist investor Searchlight Capital Partners (Searchlight) has confirmed its intention to acquire a 26% stake in Latecoere, the French aeronautics company, through the acquisition of existing stakes held by Apollo Capital Management, Monarch Alternative Capital and CVI Partners, at a price of US$4.31 (€3.85) per share. The total investment is valued at US$106.8 million. A
Singapore Technologies Engineering (ST Engineering), the Singapore-based engineering group operating in the aerospace, electronics, land systems and marine sectors, has agreed to buy Newtec Group NV (Newtec) the Belgium-based satellite communications company (satcom) for US$383 million. With the acquisition of Newtec, the group will be able to add intellectual property, products and market access, meeting
SIA Engineering Company (SIAEC) has entered into a joint venture agreement with NokScoot Airlines Co. (NokScoot), to form a line maintenance joint venture based in Thailand. Under the agreement, NokScoot will hold an equity stake of 51% in the joint venture, with SIAEC taking the remaining 49% stake. The agreement is subject to the receipt
Israel Aerospace Industries (IAI), Israel’s largest national military and civilian security defense company, has issued its consolidated financial statements for the year ended December 31, 2018. IAI has recorded an annual increase of US$2.3 billion in order backlog, reaching a record scope of approximately US$13.5 billion at the end of 2018. The Company reported sales
WOW air, the Icelandic low-cost carrier, has been forced to cancel all flights with immediate effect after two potential investors have both walked away from negotiations to help rescue the cash-strapped carrier that flew 3.5 million passengers last year. For the past six months WOW air had been trying to negotiate a deal with rival
The French group Sabena technics, an independent provider of aircraft maintenance and modifications (MRO), has acquired the assets of the company New EAS – now known as Sabena technics PGF – and thus reinforces its implantation and development on the European continent. Based in Perpignan-Rivesaltes (France), the Group’s new site employs 165 people and has
Hong Kong-headquartered Cathay Pacific has announced its intention to acquire 100% of low-cost carrier Hong Kong Express (HKE), though HKE’s chairman and major shareholder, Zhong Guosong, is in the process of launching legal action in a bid to stop the sale. If successful, Cathay Pacific will own three of the four airlines operating out of
TransDigm Group Incorporate has successfully completed the acquisition of Esterline Technologies Corporation, a supplier of products to the global aerospace and defense industry. Under the terms of the merger agreement, Esterline shareholders will receive US$122.50 per share in cash, without interest. The transaction is valued at approximately US$4.0 billion in total consideration, including the assumption
