Atlas Air Worldwide has entered into a definitive agreement to acquire privately held Southern Air Holdings, a premier provider of intercontinental and domestic air cargo services, in an immediately accretive, all-cash, debt-free transaction valued at approximately US$110m. The transaction is subject to customary closing conditions and approval by the U.S. Department of Transportation, and is
Air Astana has reported a net profit for 2015 of US$47.4m, an increase of 144% over 2014. It is the Kazakhstan carrier’s 13th year of profitability. Passenger numbers for the year increased by 2% to 3.86 million, whilst capacity increased by 6%. Total revenue fell by 21% from US$933m to US$738.1m. Commenting on the results,
Finnair has secured financing, arranged by BNP Paribas, for its third Airbus A350-900 XWB, which was delivered on December 30th, 2015. The transaction amounts to approximately €135m, implemented using a Japanese Operating Lease with Call Option (JOLCO) structure, where the transaction amount is treated in Finnair’s IFRS accounting as a loan and the aircraft as
Israel Aerospace Industries (IAI) and Formula Systems have entered into a definitive agreement for the purchase of TSG – a subsidiary and the military arm of Ness Technologies, engaged in the fields of command and control systems, intelligence, homeland security and Cyber security. The total purchase price in the transaction will be US$50m in cash
Global Fixed Income Fund I has financed the US$26m junior tranche of a 12-year finance lease for two Boeing Aircraft operated by Norwegian Air Shuttle. The senior lender is Norddeutsche Landesbank Girozentrale (Nord/LB) with a loan volume of US$68m. Doric GmbH is responsible for the asset management of the aircraft. Floreat Group is a privately-held,
Bohai Leasing completed the acquisition of 100% of Avolon. Bravia Capital Partners originated and structured the transaction with a total enterprise value of approximately US$7bn, bringing Bohai’s investment in commercial aircraft and new orders to over 500 aircraft which, based on this fleet, makes Bohai the fourth largest aircraft leasing company in the world. Bravia’s
HEICO Corporation’s Electronic Technologies Group completed the acquisition of Robertson Fuel Systems. On December 21st, 2015, HEICO announced it had entered into an agreement, subject to regulatory approval which was subsequently received, to acquire Robertson from affiliates of American Securities for US$255m in cash to be paid at closing, to be adjusted for typical post-closing
Premier Aviation Overhaul Centre (Premier) and Discovery Air Technical Services (DATS), a wholly owned subsidiary of Discovery Air, released that Premier has now completed the acquisition of substantially all of the assets of DATS on January 8th, 2016. The parties previously announced Premier’s offer to purchase DATS on June 22nd, 2015. Premier Aviation is a
Avolon, the international aircraft leasing company, announced the completion of its merger agreement with Bohai Leasing (“Bohai”). As a wholly-owned subsidiary of Bohai, Avolon’s shares have ceased trading on the New York Stock Exchange. Avolon is now a wholly-owned, indirect subsidiary of Bohai Leasing, a global leader in transportation (container and aircraft) leasing. Bohai Leasing
Gama Aviation, one of the world’s largest business aviation service providers, announced the conditional acquisition of Aviation Beauport Limited; a privately owned Jersey based business offering a range of business aviation services. The acquisition of Beauport is conditional upon approval from the Jersey Competition Authority which is expected to complete by the end of February
