L-3 Communications (LLL) has entered into an asset purchase agreement (APA) to acquire certain assets of Implant Sciences Corporation (Implant) for US$117.5m in cash, plus the assumption of specified liabilities. L-3 intends to finance the asset purchase using its existing cash on hand. Implant has recently entered into Chapter 11 Bankruptcy protection, and the consummation
Avolon Holdings, the international aircraft leasing company and a wholly owned subsidiary of Bohai Capital Holding, the equipment and transportation lessor, signed an agreement to acquire the aircraft leasing business of CIT Group. The Transaction will create a leading aircraft leasing business with an owned, managed and committed fleet of 910 aircraft valued at over
Air Canada has completed its previously announced private offering of CAD$200m of 4.75% senior secured first lien notes due 2023 (the “2016 Senior Notes”) and the closing of its previously announced U.S.$1.1bn new senior secured credit facility, comprised of a U.S.$800m term loan maturing in 2023, together with a new, undrawn U.S.$300m revolving credit facility
L-3 Communications reported the acquisition of Aerosim, including Aerosim Technologies, located in Burnsville, Minnesota, and Aerosim Flight Academy, located in Sanford, Florida. The acquisition was completed on September 30, 2016 and terms were not disclosed. Following the acquisition, Aerosim will be integrated into the L-3 Commercial Training Solutions (L-3 CTS) division of the company’s Electronic
Calspan Holdings, the parent company to a thriving group of entities including Buffalo-based aerospace and automotive research company Calspan Corporation, reported the acquisition of Triumph Aerospace Systems – Newport News, Inc. The transaction was effective September 30, 2016 and the new company will operate as Calspan Systems Corporation. Calspan Systems Corporation (formerly “Triumph Aerospace Systems
Bombardier confirmed that it has closed the previously announced sale of its Amphibious Aircraft program to British Columbia-based Viking Air Limited. The agreement covers the Type Certificates for all variants of the aircraft, the CL-215, the CL-215T and the Bombardier 415 aircraft as well as after-market services. This divestiture positions Bombardier to better focus on
Guggenheim Partners, a global investment and advisory firm with more than US$240bn in assets under management, announced the sale of its commercial aircraft investment and management business, Guggenheim Aviation Partners (GAP), to the GAP management team. Founded in 2003 as a joint venture between Guggenheim and aircraft industry veterans Steve Rimmer and Paul Newrick, GAP
The Supervisory Board of Deutsche Lufthansa AG approved the exercising of a call option to acquire the remaining 55% of shares in SN Airholding, the parent company of Brussels Airlines. It remains the common objective of Lufthansa and Brussels Airlines to conduct the full acquisition of SN Airholding by Deutsche Lufthansa AG after the final
Newly formed Orizon Aerostructures has signed an agreement to purchase Spirit AeroSystems’ Chanute operations, expanding on its June announcement to establish an aerospace manufacturing facility in Chanute, Kan. As part of the agreement, Spirit’s Chanute statement of work will transition under the new company name Orizon Aerostructures – Chanute, Inc. Current Spirit employees in Chanute
Nordic Aviation Capital A/S (NAC) continued to record strong double-digit growth in revenue and earnings in the fiscal year 2015/16 and strengthened its position as one of the premier lessor of regional aircraft. Fiscal year 2015/16, ending June 30, 2016 showed a continued expansion of NAC’s business platform through addition of new aircraft, new customers,
