Socomore has reported the acquisition of Sea to Sky Innovations. Sea to Sky is especially oriented towards water based paint strippers for aviation and infrastructure. The company’s manufacturing facility and headquarters are based in Burnaby near Vancouver, BC with sales offices in Asia and Europe. Frederic Lescure, CEO of Socomore said: “We are pleased to
Amedeo, an asset manager and a principal investor focused on widebody aircraft leasing, has completed a management buyout of its majority shareholder Pine Brook, a private investment firm focused on building businesses in the energy and financial services sectors. Financial terms of the private transaction were not disclosed. Amedeo’s four-year partnership with Pine Brook saw
AerCap has signed an agreement to sell a 21-aircraft portfolio to Peregrine Aviation Company (Peregrine), an investment entity established by NCB Capital. NCB Capital has US$37bn of assets under management and is the brokerage arm of the National Commercial Bank, the largest bank in Saudi Arabia. The 21-aircraft portfolio consists of a mix of wide-body
Bombardier has released its 2018 guidance and confirmed that its five-year turnaround plan remains on track. The Company also affirmed its 2017 guidance, as revised with the announcement of its third quarter 2017 results. For 2018, Bombardier is targeting revenues in the range of US$17.0bn to US$17.5bn which represents a year-over-year increase of approximately US$1.0bn
Funds affiliated with Apollo Global Management, (together with its consolidated subsidiaries, Apollo) have signed a definitive agreement to acquire Sun Country Airlines, the largest privately-held fully independent airline in the United States, from brothers Marty and Mitch Davis. The transaction, which is subject to regulatory approvals and other customary conditions, is targeted to close during
Air Berlin subsidiary Niki is closing its flight operations, after the take-over by Lufthansa has failed. Niki has filed for insolvency and as of December 14, flights will no longer take off. The European Commission has refused to authorize the airlines’ acquisition by Germany’s largest carrier, Lufthansa. Despite offering to give up a number of
Aviation Capital Group (ACG) has announced that its parent company, Pacific Life Insurance Company, has closed a transaction with Tokyo Century Corporation (TC) that results in an investment by TC for a 20% membership interest in ACG. In addition to this initial investment, TC has agreed to provide additional capital to ACG to help accelerate
The Boeing board of directors has replaced the existing share repurchase program with a new US$18bn authorization. The company this year has repurchased US$9.2bn worth of its shares from the US$14bn authorization approved in December 2016. The new repurchase program replaces the existing one, bringing the total authorization to US$18bn. The timing and volume of
At its Investor and Analyst Day 2017, MTU Aero Engines AG provided an outlook for the period to 2025. 2017 marks the end of the company’s most substantial investment phase, from which it emerged with an increased adjusted EBIT margin. In 2018, MTU will move into a consolidation phase during which the company expects a
Rolls-Royce has obtained the approval of all the relevant authorities for the acquisition of the outstanding 53.1% shareholding in Industria de Turbo Propulsores SA (ITP) owned by SENER Grupo de Ingeniería SA (SENER). Approval from the authorities in Spain paves the way for Rolls-Royce to conclude the acquisition, which was originally announced on July 11,
