AerCap Holdings has completed the closing of US$1.3bn of new credit facilities. The facilities will primarily be used to acquire new narrowbody and widebody aircraft as they deliver from Boeing and Airbus through the end of 2016. A US$0.8bn facility was signed to finance a portfolio of 13 aircraft over a nine-year term. The facility
Air Canada launched a private offering of three tranches of enhanced equipment trust certificates with an aggregate face amount of U.S.$537,092,000 (the “Certificates”). Each class of Certificates will represent an interest in a related pass through trust. The trusts will use the proceeds from the offering to acquire equipment notes to be issued by Air
Intrepid Aviation announced the financing of one new Airbus A330-300 with DVB Bank. The aircraft delivered November 24th on long-term lease to EVA Airways. In addition, Intrepid Aviation also announced the financing of a second new Airbus A330-300 with Erste Bank. The aircraft was also purchased in November. Intrepid Aviation is a privately held commercial
Kaman Corporation’s Aerospace segment has acquired GRW Bearing GmbH (GRW), a German-based designer and manufacturer of super precision, miniature ball bearings. GRW is focused on the demanding applications segment of the miniature ball bearings market, where low noise requirements, extreme temperatures, ultra-high speeds and/or caustic environments require both exceptional engineering design and continuous operating performance
Acro, one of the fastest growing aircraft seating companies, has received a £7.75m growth capital investment from BGF (Business Growth Fund). Acro has grown rapidly as major player in the global aircraft seating market; in 2015 Acro delivered more than 25,000 seats including more than 120 aircraft in North America alone flying for Spirit, Frontier,
With the payment of the purchase price and the transfer of 100% of its shares, the sale of Adria Airways Tehnika was successfully concluded on November 24th. The buyer of the shares is the company Linetech Holding, S.A. of Poland, one of the fastest developing MRO companies in Eastern and Central Europe. Slovenski državni holding,
On the occasion of the company’s annual Investor & Analyst Day, MTU Aero Engines AG has issued a more precise forecast for the next ten years to 2025. The group intends to maintain its growth trajectory and achieve further improvements in profitability. In the medium to long term, adjusted EBIT is expected to increase at
Zodiac Aerospace posted a 44.6% drop in core annual earnings on November 24th, in the wake of production delays at its troubled aircraft seats division. Hit by a series of recent profit warnings, Zodiac Aerospace said its 2014/15 ordinary profit fell to €314m (US$333.66m) as its core profit margin more than halved to 6.4%, while
Doric has concluded junior financing for two Boeing 737-800 aircraft. Both aircraft are on finance lease to Norwegian which has been operating them since August and September 2015 respectively. The lease term is 12 years. As Europe’s third largest low-cost carrier Norwegian is keen to expand, not only within Europe, but also in the longhaul
TransDigm Group and Breeze-Eastern signed a definitive merger agreement providing for Breeze-Eastern to become an indirect wholly-owned subsidiary of TransDigm. TransDigm and Breeze-Eastern both design, manufacture and supply highly engineered aircraft components. Under the terms of the agreement, a subsidiary of TransDigm will commence a tender offer to acquire all of the outstanding shares of
