Kaman reported that its Aerospace segment has entered into an agreement to acquire Timken Alcor Aerospace Technologies, Inc. (TAAT) of Mesa, Arizona. TAAT designs and supplies aftermarket parts to support businesses conducting maintenance, repair, and overhauls (MROs) in aerospace markets primarily located in North America. Important factors in Kaman’s decision to acquire TAAT from The
LCI, the aviation leasing arm of the Libra Group, has finalised two long-term debt facilities to support over US$200m of incremental fleet growth in Australia. Westpac Banking Corporation will act as sole lender, security trustee and agent to support LCI’s recent multi-year agreement to lease four new AgustaWestland AW139 helicopters to Australia’s Westpac Rescue Helicopter
Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, has agreed to purchase the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas representing approximately US$2.5bn of net assets. Shawn Vick, Executive Director of Global Jet Capital said, “We are investing heavily in growing the business both
ST Aerospace Systems has acquired the remaining 50% stake in Singapore Precision Repair and Overhaul (S-PRO), from Messier-Bugatti-Dowty (Safran), for a cash consideration of US$8.15m. Following the acquisition, S-PRO will become a wholly-owned subsidiary of ST Aerospace Systems, which in turn is a wholly-owned subsidiary of Singapore Technologies Aerospace (ST Aerospace), the aerospace arm of
AAR reported first quarter fiscal year 2016 sales of US$377.8m and income from continuing operations of US$8.2m. For the first quarter of the prior fiscal year, the Company reported sales of US$395.1m and income from continuing operations of U$11.8m. During the quarter, the Company recorded a pre-tax gain of US$27.7m within discontinued operations from the
Air Partner reported an encouraging performance for the six months to July 31st, 2015. Gross profit rose by 13% to £12.1m while underlying operating profit and underlying profit before tax increased twofold to £2.2m. Reported pre-tax profit rose by 70% to £1.9m after a charge £0.3m relating to acquisitions. The underlying performance resulted from improved
Nordic Aviation Capital A/S delivers 42% increase in operating profit, up from US$169m to US$239m, a result considered to be satisfactory. In the fiscal year ending June 30th, 2015 NAC’s revenue increased from US$311m the year before to US$392m, up 26%. Net profit after tax rose 37% to US$111m. The achieved improvements reflects the company’s
Honeywell has acquired privately held Aviaso, an international aviation software company that offers fuel efficiency and emissions savings software to the airline industry. Terms of the deal are not being disclosed. Aviaso’s software products gather data on aircraft usage and identify and communicate the ways airline customers can save fuel consumption through a simple, intuitive
GE Aviation will create a turboprop engine development, test and production operation in Europe. This will represent an investment exceeding US$400m and ultimately support 500 – 1,000 jobs. The turboprop industry is highly global and comprised of many small aircraft operators. Among the factors driving GE Aviation to pursue the new operation in Europe is
B/E Aerospace expects to recognize charges during the third quarter associated with its cost reduction program. The charges reflect costs associated with facilities consolidation, product rationalization, workforce reductions and program discontinuance. The Company plans to close several facilities, consolidate certain product lines and reduce headcount by approximately 450 employees. Total after-tax charges for the associated
