Despite only 52.4 percent of shareholders agreeing to the takeover, Melrose Industries has made a successful bid of £8 billion (US$11 billion) to take over the British engineer GKN after a bitter three-month-long battle. This has been seen as the largest successful hostile bid since Kraft took over Cadbury in 2009. Melrose is a UK-based
RUAG has reported net sales of CHF1,955m (previous year: CH 1,858m) and once again topped its record prior-year performance – this time by 5.2%. However, the international technology group was unable to uphold last year’s record result. Earnings before interest and taxes (EBIT) fell to CHF119m (CHF151m) and net profit to CHF89m (CHF116m). The order
Israel Aerospace Industries, Israel’s largest national military and civilian security defense company, has issued its consolidated financial statements for the year ended December 31, 2017. The Company reported a notable growth in profits with net income of US$81m, coupled with a record scope of engagements in new transactions with customers totaling approximately US$5.8bn in 2017
Avolon, the international aircraft leasing company, has released that Sapphire Aviation Finance I Limited and Sapphire Aviation Finance I (US) LLC (collectively the “Issuers“ or “SAPA 2018-1”), newly established special purpose companies, closed a total of US$768.4m of Fixed Rate Secured Notes (the “Issue”). The Issue comprised of US$633m of 4.250% Series A Fixed Rate
Elbit Systems is in the process of completing the acquisition of Universal Avionics through an asset acquisition agreement. The parties have received the applicable government approvals and the closing is anticipated to occur in the coming weeks. Under the ownership of Elbit Systems, Universal Avionics will become a wholly-owned subsidiary. Universal Avionics is a manufacturer
On March 20, Norwegian has announced a contemplated private placement of shares with gross proceeds of up to NOK 1,300 million by issuing new ordinary shares in the Company. Additional capital will boost competitiveness and protect existing and future investments in a market characterized by higher oil prices and fluctuating currencies. The company is now
Lufthansa Technik AG has maintained its growth course in 2017. With a new revenue record and the best sales result in the company’s history, investments were raised once again and the final result was a slight improvement over the previous year. Sales revenue grew significantly, increasing by €260m from the previous year’s €5.144bn to €5.404bn
The Fraport Group has reported a successful 2017 fiscal year (ending December 31), in which revenue and earnings targets were fully reached. Supported by significant traffic growth at all of the Group’s airports, revenue climbed by almost 13.5% to €2.93bn. A major revenue contribution from the Greek airports (which Fraport began operating in 2017) boosted
Total revenues for the Lufthansa Group in 2017 amounted to €35.6 billion, a 12.4 percent increase compared to 2016. The Adjusted EBIT of €2.97 billion was a substantial 69.7 percent year-on-year improvement. An 8.4 percent Adjusted EBIT margin was up 2.9 percentage points compared to 2016. EBIT for 2017 increased more than €1 billion to
MTU Maintenance, the MRO division of MTU Aero Engines AG, has secured over US$3.7bn in contract wins in 2017, an impressive US$1.5bn more than in 2016, making 2017 the most successful year of the company in its history yet. In addition to significant contract wins, the MTU Maintenance network of facilities carried out over 1,000
