The Company reported sales of US$893m in the quarter compared with US$828m in the corresponding quarter of last year (a 7.9% increase) and a net loss of US$94m. The loss arises from a provision of US$162m for early retirement expenses for about 800 employees in the context of the growth agreement signed with the employee
Global aeronautical communications provider Satcom Direct (SD) has closed its purchase of TrueNorth Avionics, a manufacturer of cabin communications solutions. With the acquisition of TrueNorth complete, SD significantly expands its ability to provide advanced communications systems for VIP and VVIP aircraft. Ottawa, Canada-based TrueNorth Avionics designs, develops and manufactures satellite communications solutions for aircraft operators
Business aviation company Deer Jet has concluded the acquisition of major shares of UAS International Trip Support (UAS). Deer Jet has become the major shareholder of the global flight support solutions provider. The agreement was completed ahead of MEBAA Show 2016 on Monday, December 5 by UAS’ existing shareholders and Deer Jet Chairman and President
airberlin announced the sale of its share in NIKI to Etihad for a total consideration of €300m. The divestment marks an important milestone in the implementation of the company’s restructuring plan announced in September. The transaction is subject to regulatory approvals. Etihad will not majority own or effectively control NIKI. Stefan Pichler, CEO of airberlin:
Royal Jordanian Airlines completed the closing of its first B787-8 commercial debt financing on November 15, 2016. This new delivery is the sixth B787 in the RJ fleet. DVB AFC, the aviation advisory division of DVB Bank, advised Royal Jordanian on the long term financing of the aircraft. Founded in 1963, Royal Jordanian is the
Rolls-Royce confirmed the valuation of €720m for the 53.1% shareholding in Industria de Turbo Propulsores SA (ITP) currently owned by SENER Grupo de Ingeniería SA. This follows completion of due diligence, subsequent to the announcement in July 2016, that Rolls-Royce will purchase the outstanding stake. Under the agreement, consideration will be settled over a two-year
China’s largest online travel company, Ctrip, is looking to expand its reach beyond its home market by agreeing to buy Scotland-based Skyscanner, the air-ticketing specialist, for an agreed £1.4 billion. Back in January the Scottish startup had been valued at £1.0 billion after a round of financing. Skyscanner was founded 13 years ago, and currently
El Al reported that revenues in the third quarter of 2016 amounted to approx. US$644m, compared to approx. US$647m in the third quarter of the previous year. Gross profit in the third quarter of 2016 amounted to US$173m, compared to approx. US$ 209m in the third quarter of the previous year. Profit before tax in
L-3 Communications reported the acquisition of MacDonald Humfrey (Automation) located in Luton, U.K. The acquisition was completed November 23, for a purchase price of approximately £224m (approximately US$280m). The purchase price is subject to an upward adjustment of up to £30m (approximately US$37.5m), based on MacDonald Humfrey’s post-acquisition performance for years ending December 31, 2017
AerCap Holdings has completed the closing of a new US$0.6bn secured credit facility. The facility will primarily be used to acquire new narrowbody and widebody aircraft as they deliver from Boeing and Airbus through 2017. The facility was signed to finance a portfolio of eight aircraft and matures in 2024. The total amount of financing
