GECAS and its wholly owned subsidiary, PK Air Finance have concluded a significant aircraft financing transaction covering a total of 51 aircraft operated by Lion Air Group, GECAS’ largest customer Southeast Asia. The financing covers 21 Boeing 737-900ER’s currently operated by Lion Air and 30 aircraft on order by Lion Air, including Boeing 737 MAX
Qatar Airways, the national airline of the State of Qatar and JetSuite, a U.S. private aviation company, has taken a minority stake in JetSuite, and indirectly in JetSuiteX. Qatar Airways joins JetBlue Airways, which will be increasing its investment and a number of private investors as stakeholders in both JetSuite and JetSuiteX. With this investment
In 2017, the Liebherr Group achieved the highest turnover in the Group’s history, with total sales of € 9,845 million. Compared to the previous year, the family-run company increased its revenue by 9.3%. The Group is expecting further sales growth for 2018. The Liebherr Group posted a net result of €331m for the year. Compared
IAG, parent company of British Airways and Iberia, has acquired a 4.61% ownership position in Norwegian Air Shuttle ASA (Norwegian). IAG said that it considers Norwegian to be an attractive investment and that it intended to establish a position from which to initiate discussions with Norwegian, including the possibility of a full offer for Norwegian.
It has been announced that Jet Aviation has signed a binding agreement to acquire Hawker Pacific for US$250 million. Commenting on the deal, Rob Smith, president of Jet Aviation commented: “The acquisition of Hawker Pacific represents a significant step in expanding our footprint, capability and customer offer across Asia Pacific and the Middle East. “Hawker
Universal Avionics Systems Corporation (UA) has completed its acquisition by Elbit Systems. As a wholly-owned subsidiary of Elbit Systems, the company will lead commercial sales in North America for Elbit Systems’ Aerospace Division’s Commercial Aviation Business Line. “Combining our product offering with Elbit Systems’ strengthens our position in the market,” said Paul DeHerrera, UA Chief
In a move to further shore up its balance sheet, Rolls-Royce has agreed to sell its subsidiary fuel injection technology firm, L’Orange, to Colorado-based Woodward in a £610m (US$860m) deal. The transaction should be completed by the end of September this year. According to Rolls-Royce, the sale of L’Orange will “improve resilience” of the balance
MRO service provider SR Technics has successfully closed a US$110m senior multicurrency revolving credit facility (RCF) in cooperation with a group of leading Swiss banks. The RCF contains the option to increase to US$150m. SR Technics is ready to seize the current strong momentum in the MRO market and is exploring opportunities to expand its
International Airlines Group’s subsidiary British Airways has closed its New Airways Pension Scheme (NAPS) to future accrual and its British Airways Retirement Plan (BARP) to future contributions from March 31, 2018. The schemes have been replaced by a flexible benefits scheme, incorporating a new defined contribution pension scheme, called the British Airways Pension Plan (BAPP).
Willis Lease Finance Corporation has reported 50.4% growth in annual pre-tax income to US$36.0m, from US$23.9m in 2016, and recorded total revenues of US$274.8m. The Company’s 2017 pretax results were driven by solid revenue growth in the core leasing business and a significant increase in spare parts and equipment sales. Aggregate lease rent and maintenance
