Palm Beach Capital, a middle market private equity firm based in West Palm Beach, FL, has acquired 60% of the membership interests of CTS Engines, LLC, from Neff Capital Management, which will retain a 40% ownership. Brian Neff, the Managing Partner of Neff Capital Management, will remain as Chief Executive Officer of the company. Additional
Wesco Aircraft Holdings reported revenue for the fiscal fourth quarter was $234.3m, showing an increase of 10.5% compared to $212.2m in the prior year period. The increase in the North America segment was 9.8% over the prior year. Wesco again demonstrated strong international growth during the quarter with revenues in the Rest of World segment
FLY Leasing, a global lessor of modern commercial jet aircraft, announced it upsized and amended its 2012 Term Loan. The Term Loan, which had a balance of approximately $375m as of September 30, 2013, was upsized by $105m. The incremental borrowing was priced at 99.75% of the principal amount. FLY will use the net proceeds
IAI reported net profits for the 3rd quarter increased to $57.9m, compared to $37.5m in the 3rd quarter of 2012 – an increase of 54%. Profit before tax totaled $80.7m, compared to $50.3m in the parallel period of last year – an increase of 61%. Company revenues for the 3rd quarter of 2013 were the
EADS reported higher revenues and profits for the first nine months of 2013, driven by the strong momentum within its commercial aircraft activities. Order intake more than doubled to €138.2bn with the order book value reaching €642.5bn at the end of September. The Net Cash position was €5.2bn on 30 September, 2013. Over the first
DVB Bank SE published its results for the first nine months of 2013. DVB continued to successfully provide financing solutions and advisory services to its clients in the international transport sector during the first nine months of 2013, despite the prevailing difficult situation in individual submarkets of international maritime shipping. Consolidated net income before taxes
BOC Aviation has priced its first offshore RMB-denominated bond. The coupon on the 5-year unsecured notes of RMB 1bn is 4.5% p.a. The notes will close on November 20th, 2013, subject to the satisfaction of customary closing conditions. The transaction was issued off BOC Aviation’s US$2bn Euro Medium Term Note Programme originally established in September
Air Lease Corporation announced the pricing of its public offering of $700.0m in aggregate principal amount of 3.375% unsecured senior notes due 2019 (the “Notes”). The Notes were offered to the public at a price of 99.858% of par. The sale of the Notes is expected to close on November 19, 2013, subject to satisfaction
The weak visibility of air traffic development continues due to the uncertain economic outlook in Europe and slower growth in Asia. Fuel costs are expected to remain high in the last quarter of 2013, and the demand for air traffic is estimated to grow moderately. Due to the preparations already made for the possible strikes
Global Aviation Holdings, the largest commercial provider of charter air services to the US Military and a major provider of worldwide commercial global passenger and cargo air transportation services, announced that the Company and its subsidiaries, including its two operating airlines World Airways and North American Airlines, have filed voluntary petitions for relief under Chapter
