The Board of Directors of Rockwell Collins has approved the purchase of an additional US$200m of Rockwell Collins common stock. With this additional authorization, total share repurchases authorized as of July 7, 2017 is US$285m. “This additional authorization demonstrates the Board of Directors’ continued confidence in our ability to generate cash flow needed to achieve
As it looks to consolidate its foothold in the African commercial airline market, fastjet has acquired all intellectual property rights from easyGroup. Up until now the carrier had paid royalties to the easyGroup and Sir Stelios Haji-Ioannu, who established the brand in 2013. fastjet has paid the sum of £2.5 million (US$3.2 million), which represents
StandardAero Aviation Holdings and Airbus have entered into exclusive negotiations with respect to an acquisition by StandardAero of Vector Aerospace Holding SAS from Airbus. Vector is a global aerospace maintenance, repair and overhaul company, providing responsive, quality support for turbine engines, components, fixed- and rotary-wing aircraft. A truly international company, it generated revenues of US$
It has been announced that along with its Sun d’Or International Airlines (2U, Tel Aviv Ben Gurion) unit, El Al Israel Airlines (LY, Tel Aviv Ben Gurion) has entered into an agreement with IDB Development, IDB Tourism and Israir (6H, Tel Aviv Sde Dov) to purchase all issued and paid-up share capital of Israir. It
The Indian government has given the go-ahead for the privatisation of the loss-making and debt-ridden Air India. Finance Minister Arun Jaitley confirmed that subsequent to a cabinet meeting, “in principle” approval has been given for the sale of a stake in the airline. This is one of a series of initial steps that needs to
Rolls-Royce has announced a £150m investment in new and existing civil aerospace facilities in the UK to support the planned doubling of engine production and deliver on its record civil aerospace order book. The investment, which will be made over the next few years, is part of Rolls-Royce’s ongoing industrial transformation and will provide additional
Israel Aerospace Industries (IAI) is investing millions of dollars in two cyber companies in Holland and Hungary, IAI has announced at the Cyber Week conference held in Tel-Aviv, Israel. The investments, which are carried out through the IAI’s Cyber Division, are meant to expand IAI’s cyber R&D and its global footprint in this field. In
SmartLynx Airlines, the third largest passenger carrier in Latvia, reported that net turnover in 2016 increased by 18% to €108.4m. Aircraft wet lease services represented 53.3% of the company’s business portfolio, with charter flights taking up another 45.5%. The aircraft wet lease (ACMI) services net turnover made up €57.7m in 2016, or 15.3% more than
Kellstrom Aerospace Group has reported the acquisition of Vortex Aviation, a specialist in worldwide AOG on-wing engine maintenance services and quick-turn engine repairs across all major commercial aircraft engine platforms. With repair facilities located in Fort Lauderdale, Florida, Shannon, Ireland, and Singapore, Vortex Aviation provides global support and turnkey solutions for many of the world’s
HEICO Corporation announced that its Flight Support Group has acquired 100% of Carbon by Design, a growing manufacturer of composite components for UAVs, rockets, spacecraft and other specialized applications. The purchase price and financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings within the first year
