Dubai Aerospace Enterprise (DAE) has reported financial results for full year 2016. Total revenue amounted to US$417.8m (AED 1,534m) for full year 2016, an increase of 22% from US$341.7m (AED 1,255m) for full year 2015. Net income from Continuing Operations amounted to US$124.9m (AED 459m) for full year 2016, an increase of 323% from US$29.5m
Astronics Corporation, a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, has purchased the operating assets of Custom Control Concepts (CCC), located in Kent, Washington. CCC is the established market share leader in providing cabin management and in-flight entertainment (IFE) systems for the complete range of privately operated
Avolon Holdings, the international aircraft leasing company, has completed the acquisition of the aircraft leasing business of CIT Group. Avolon is now the world’s third largest aircraft leasing company with a combined fleet, as of December 31, 2016, of 868 aircraft valued at over US$43bn. Avolon now serves 149 customers in 62 countries with approximately
Air Transport Services Group has obtained lender commitments for a one-year extension through May 2022 of its secured credit facility, and an expansion of its revolver portion. The amendment to ATSG’s agreements with a consortium of banks, led by SunTrust, increases the revolving credit portion of the facility by US$120m, to US$545m. Additionally, the amendment
Kaman Aerospace Group, a subsidiary of Kaman Corporation and Kineco Limited reported that Kaman has increased its stake in the parties’ Indian manufacturing joint venture Kineco Kaman Composites India (JV) to 49% from 26%. The Goa based JV manufactures advanced composite structures for aerospace, imaging/medical, and other industries for customers including BAE Systems, Hindustan Aeronautics
Israel Aerospace Industries, Israel’s largest national military and civilian security defense company, issued its consolidated financial statements for the year ended December 31, 2016. The Company reported new engagements signed with customers at a scope exceeding US$4bn. The scope of new engagements derives from a record number of global medium-sized transactions signed, alongside existing long-term
Kaney Aerospace, an engineering, manufacturing and technology company serving Tier 1 and airframe prime manufacturers, has completed its acquisition of BVR Technologies from Esterline Corporation. The combined company will operate as Kaney Aerospace with a workforce of over 120 employees primarily in Rockford, Illinois, with annual sales in excess of US$20m to the aerospace and
StandardAero has entered into a definitive agreement to acquire PAS Technologies, a high technology components provider, to expand its portfolio of industry-leading MRO service offerings. Terms of the transaction were not disclosed. PAS specializes in providing cost-effective OEM and MRO solutions for the aerospace, oil and gas, and industrial gas turbine markets. By using innovative
SmartSky Networks, reported the closing of over US$170m in a multi-tranche Series B financing, completing the equity funding for the deployment of its nationwide network. With this financing, the Company has raised approximately a quarter of a billion dollars in equity capital. Goldman, Sachs & Co. acted as exclusive placement agent on the transaction. SmartSky
GE Aviation has acquired Critical Technologies, branded as AirVault, a privately-owned supplier of cloud-based digital records management. AirVault’s expertise to digitally manage mission-critical records across an industrial supply chain network strengthens GE’s ability to focus on asset lifecycle management and maintenance optimization for the aviation industry. The combination of AirVault and GE will further enable
