SR Technics reported that sole shareholder Mubadala, the Abu Dhabi investment and development company, has agreed to sell an 80% stake in the company to HNA Aviation, a global enterprise group based in Haikou, China. SR Technics, a world leading MRO service provider for the civil aviation sector, will remain a standalone business within HNA
Qatar Airways has signed a contribution and shareholders agreement with Alisarda, the parent company of Meridiana. The agreement provides for Qatar Airways to purchase 49% of Meridiana fly’s shares, subject to the fulfilment of certain conditions, before the closing which is planned for early October. Qatar Airways Group Chief Executive, Mr. Akbar Al Baker, said:
Rolls-Royce Holdings will purchase the outstanding 53.1% shareholding in Industria de Turbo Propulsores SA (“ITP”) owned by SENER Grupo de Ingeniería SA (“SENER”). The acquisition strengthens Rolls-Royce’s position on its Civil Aerospace large engine growth programmes by capturing significant additional value from its long-term aftermarket revenues, including the high volume Trent 1000 and Trent XWB
HNA Group and gategroup Holding AG entered into a definitive transaction agreement on April 11, 2016, pursuant to which HNA launched an all cash public tender offer for all publicly held registered shares of gategroup. On July 7, 2016, HNA published the definitive notice of the interim result and declared the tender offer successful. The
LORD Corporation announced has completed the acquisition of Fly-by-Wire Systems France (FbW). Based in Saint-Vallier, France, FbW designs and manufactures cockpit controls, sensors, dampers and electromechanical actuators primarily for fly-by-wire systems on commercial fixed-wing aircraft. LORD announced its intentions to acquire FbW in March pending necessary governmental approvals and closing actions by both parties. FbW
In September 2013, SAS sold 80% of the shares in Widerøe AS (Widerøe) to WF Holding AS (WF Holding), an investment company controlled by Torghatten ASA. At the same time SAS informed that the remaining shares would be divested during 2016. SAS has now together with the WF Holding agreed to sell the remaining holding
Aircastle Limited has entered into a new US$400.5m term facility secured by 17 aircraft. The facility has a maturity of seven years and includes an accordion feature allowing for US$67.5m in additional future funding. Funding of the facility will take place through several draw-downs, with the first one, for US$167.3m, having taken place on June
TransDigm Group Incorporated (TDG) has completed the acquisition of ILC Holdings, the parent company of Data Device Corporation, from Behrman Capital for a total purchase price of US$1.0bn in cash. TransDigm financed the acquisition with cash proceeds from the recently completed term loan and notes offerings. The acquisition of DDC was previously announced on May
On 22 June 2016, Finnair Plc signed a binding €175m syndicated revolving credit facility for general corporate purposes. The coordinator and bookrunner for the facility is Skandinaviska Enskilda Banken AB (publ). Danske Bank, Nordea Bank, OP Corporate Bank and Swedbank AB (publ) also joined with equal tickets. The loan replaces a syndicated revolving credit facility
Bombardier has reached a definitive agreement for the 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. The completion of this transaction is subject to the
