Under European Union (EU) rules, airlines wishing to have flying rights in Europe must be at least 50% EU-owned. As a consequence, IAG, owner of British Airways, has blocked investors from outside the EU by setting a non-EU investor cap at 47.5%, a threshold which has already been reached. The move follows on from easyJet
In a move aimed at increasing a critical mass in electrical actuation and flight control business lines, Safran has agreed to buy ElectroMechanical Systems (EMS) from Collins Aerospace. EMS‘ business consists predominantly of actuators and pilot controls for aircraft having previously been a part of Rockwell Collins. Last year EMS generated US$159 million and employs
Revima has acquired Chromalloy’s facility in Saint-Ouen l’Aumône, near Paris, France with the objective of reinforcing its component repair offering. The facility specializes in engine parts repairs & special coatings. Revima aims to offer its customers, through this acquisition, significantly enhanced component repair capabilities, serving both Chromalloy France’s legacy market, which supports several main engine
Latvian airline airBaltic has mandated global investment bank Greenhill to evaluate financing options for the future development of the airline. Consequently, one of these financing options is the search for a potential new investor. Martin Gauss, Chief Executive Officer of airBaltic, stated that the company “…improve(d) its performance whilst several airlines left the market. In
Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA, recently signed an agreement to sell two Airbus 320neo aircraft. Delivery will take place during February 2019. The transaction will increase the Company’s liquidity by US$26 million after repayment of debt. Subsequently, the sale will have a positive equity effect. Debts will be repaid and
Air Transport Services Group, said its subsidiary, LGSTX Services, has acquired TriFactor Distribution Solutions, a privately held material handling systems integrator based in Lakeland, FL. This acquisition provides a number of strategic benefits combining operational strengths and expanding complementary services between the companies. The services of the combined LGSTX/TriFactor businesses will be marketed nationwide as
A group of shareholders led by investment group Hosking Partners is looking to derail Exeter, U.K.-based flybe’s intention to sell to the Virgin Atlantic-led consortium Connect Airways at what is seen to be a heavily discounted price of one pence (13 cents) per share. Hosking partners is looking to oust flybe Chairman Simon Laffin with
WestJet has reported its fourth quarter and year end results for 2018, with full year net earnings of CA$91.5 million. This compares with net earnings of CA$279.1 million for the full year 2017. In the fourth quarter of 2018 the airline achieved net earnings of CA$29.2 million compared with net earnings of CA$47.8 million in
Berlin-based budget carrier Germania Fluggesellschaft mbH, trading as Germania, has filed for bankruptcy, citing fuel prices and currency fluctuations as the principal causes and ceasing all operations with immediate effect. “We ultimately failed to successfully complete our financing efforts to meet short-term liquidity needs,” said managing director Karsten Balke, adding: “We very much regret that,
The Qantas Group has taken a new shareholding position in an industry-leading carrier. Qantas has announced it will buy a 19.9% stake in Alliance Airlines, costing AU $60 million. This indicates an average share price of AU$2.40 per share. Alliance Airlines is a major service provider to the Australian resources sector. Consequently, Alliance creates continued
