Financial

Under the EU Merger Regulation, the European Commission has approved the acquisition of Rockwell Collins by United Technologies Corporation (UTC) subject to UTC’s divestment of businesses in actuators, pilot controls, ice protection and oxygen systems. The Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns in the

Aircastle has reported that net income for the quarter was US$57.5m, an increase of US$15.1m, or 36%, versus the prior year. Lower total revenues of US$2.4m were offset by interest expense of US$6.0m, lower depreciation of US$4.2m and a mark to market benefit from interest rate hedging of US$3.2m. Total revenues were US$202.7m, a decrease

Safran has reported adjusted revenue in the first-quarter of 2018 was €4,222m, an increase of 12.0% on a reported basis. At constant scope (excluding the contribution from Zodiac Aerospace), adjusted revenue grew 2.3%, including €-295m negative currency impact. Adjusted revenue increased 10.2% organically, thanks to positive momentum in Propulsion, Aircraft Equipment and Defense. Civil aftermarket

Low-cost carrier Norwegian has released that its Board has rejected two offers from IAG in relation to an acquisition of 100% of the share capital of NAS, stating they undervalued the carrier. When IAG acquired a 4.61% stake in Norwegian last month in order to open negotiations, Norwegian initially made it abundantly clear it had

International Consolidated Airlines Group (IAG) has posted its Group consolidated results for the three months to March 31, 2018. IAG reported first quarter operating profit of €280m before exceptional items (2017 restated €160m), net foreign exchange operating profit impact for the quarter favourable €58m. The passenger unit revenue for the quarter was down 0.7%, up

Dublin-based AerCap Holdings has reported net income of US$265.4m, compared with us$261.2m for the same period in 2017. The increase in net income was primarily driven by an increase in net gain on sale of assets, partially offset by the impact of the Air Berlin and Monarch Airlines lease terminations in the second half of

MTU Aero Engines AG generated revenues of €1,016.4m in the first quarter of 2018, an increase of 5% compared with the same period of the previous year (1-3/2017: €971.9m). The group’s operating profit rose by 11% from €157.9m to €175.1m, pushing up the EBIT margin from 16.2% to 17.2%. Earnings after tax increased in line

Spirit AeroSystems has signed a definitive agreement to acquire S.R.I.F. N.V., the parent company of Asco Industries, N.V. (Asco), for US$650m in cash, subject to customary closing adjustments, including foreign currency adjustments. Asco is a leading supplier of high lift wing structures, mechanical assemblies and major functional components to major OEMs and Tier-1 suppliers in

Jet Aviation has completed its acquisition of Hawker Pacific, a leading provider of Civil MRO, Fleet and FBO Services and Aircraft Sales across Asia Pacific and the Middle East. The transaction is valued at US$250m. Rob Smith, president of Jet Aviation, said: “We are now in a position to further expand our current portfolio, enter