Monarch Aircraft Engineering Limited (MAEL), following in the footsteps of fellow Greybull-owned enterprise, Monarch Airlines, has gone into administration. According to the liquidators KPMG, MAEL is “unsustainable in its present form,” and who also confirmed that attempts to restructure the firm had failed. Monarch Airlines collapsed in 2017 with the loss of 1,800 jobs, leading
The Carlyle Group, a global asset manager, has agreed to purchase StandardAero, the global provider of aftermarket engine maintenance, repair and overhaul (MRO) services for the aerospace and defense industries, from Veritas Capital, subject to customary regulations. While financial terms have not been disclosed, the equity will come from Carlyle Partners VII, an US$18.5 billion
TAT Group has entered into exclusive negotiations with the investment companies Sagard, Bpifrance and TowerBrook in order to sell them its majority interest in its subsidiary Sabena technics, one of the European leaders in the field of aircraft maintenance and modification. This project was presented on December 17, 2018 to all Sabena technics Group’ s
American plane giant Boeing and Brazil’s Embraer have agreed the terms of the joint venture which will create a strategic partnership to target growth in the global aerospace market. The partnership, in which Boeing will have an 80% stake and Embraer 20%, will comprise the current commercial aircraft and services operations, which will be hived
Dubai Aerospace Enterprise (DAE) has entered into a definitive sale agreement to sell a portfolio of 18 mid-life aircraft to institutional investors. The 18 aircraft in this portfolio are on lease to 15 airlines in 13 countries and have a weighted average age of approximately 9 years with a weighted average remaining lease term of
Brazil’s fourth-largest carrier, Avianca Brazil, has cited the threat of repossession of aircraft as the reason why it had filed for bankruptcy protection, fearing that such an action would see it unable to continue operations. Currently 50 of its 58 aircraft are leased and recent negotiations with lessors have failed to find any common ground.
Bombardier has released its 2019 business unit guidance and confirmed that it remains on track to achieve its 2020 financial objectives. The 2019 guidance reflects the anticipated closing of the sale of both Business Aircraft’s flight and technical training activities and the Q Series aircraft program as of September 30, 2019. For 2019, Bombardier is
Lufthansa Cargo is stepping up its cooperation with startup cargo.one and has acquired a minority shareholding in the Berlin company. Lufthansa Cargo is thereby making the switch from early adopter to minority investor. Berlin-based cargo.one was founded in 2017. The startup has developed a platform for booking and marketing air cargo capacity. Through its focus
MTU Aero Engines AG (MTU) has released at its Capital Market Day that: “In the short and long term, the prospects for growth in all business units are better than originally assumed” with net income to rise steadily along with further improvements in free cash flow. Commercial new engine business looks to be the fastest
Aviation Capital Group (ACG) has reported the closing of its sale of US$800 million aggregate principal amount of senior unsecured notes, consisting of US$300 million aggregate principal amount of its 4.375% senior unsecured notes due 2024 and US$500 million aggregate principal amount of its floating rate senior unsecured notes due 2021. ACG intends to use
