TurbineAero, a portfolio company of The Gores Group, has acquired the APU piece part repair product line (RPL) from Triumph Aviation Services Asia. The acquisition of this business segment integrates APU piece part repair into the APU Systems MRO in TurbineAero’s Asia facility which increases in-house capabilities, improves turn-times and assures extra cost reduction. Effective
Ardian, a private investment house, said that it is in exclusive talks to acquire a majority stake in Revima, a leading MRO (Maintenance, Repair & Overhaul) solutions provider for aircraft equipment, from private equity firm, Argos Wityu. Following the transaction, Olivier Legrand, President of the Group, and Argos Wityu will reinvest alongside Ardian. This transaction
Delta Air Lines has reported financial results for the December quarter and full year 2018. Adjusted pre-tax income for the December quarter 2018 was US$1.2 billion driven by over US$700 million of revenue growth, allowing the company to fully recapture the US$508 million increase in adjusted fuel expense and produce an 11% adjusted pre-tax margin.
Air Canada has signed an agreement to amend and extend the Capacity Purchase Agreement (CPA) with Jazz Aviation, a wholly-owned subsidiary of Chorus Aviation, under which Jazz currently operates certain regional Air Canada Express flights. The amendments should provide long term stability for Chorus, reaffirming Jazz as Air Canada’s most significant Express carrier well into
A consortium comprising Virgin Atlantic, the infrastructure Stobart Group and investment firm Cyrus has agreed to buy ailing U.K. regional carrier Flybe for 1p per share against a closing price of 16.4p per share, representing an equity value of £2.2 million compared to Thursday’s closing market capitalization of £26 million. The new consortium will be
On May 24, 2017 Safran has announced its intention to implement a €2.3 billion ordinary share buyback program to run over the two years following completion of the tender offer for Zodiac Aerospace shares. To date, Safran already contributed 11.4 million shares to its program for a total of €1.22 billion. On January 10, Safran
Finnair has completed the repurchase of own shares, which started on December 5, 2018 and ended on January 10, 2019. During that time, Finnair acquired a total of 600,000 own shares for an average price of EUR 7.08 per share. The shares were acquired in public trading on Nasdaq Helsinki Ltd. at the market price
Woodward has reported financial results for its fiscal year 2018 and fourth quarter ending September 30, 2018. Net sales were US$719 million for the fourth quarter of 2018, an increase of 19% from the fourth quarter of last year. Organic net sales, which exclude sales of US$78 million attributable to the acquired L’Orange business, were
STS Aviation Group, a leading global aviation solutions company, has selected Greenbriar Equity Group, L.P. (Greenbriar), a New York-based private investment firm, as its new equity partner. STS provides a range of solutions to the global aviation industry, including component sales and distribution, workforce management, engineering services, line maintenance, and aircraft repair and modifications. The
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
