Financial

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

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

Etihad Airways, its airport services business and five of its equity partners have today successfully completed an innovative new platform financing transaction, raising US$500m on the international markets. Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles, Alitalia and Jet Airways have together taken a new step forward in their strategic business development through

ICBC Financial Leasing has announced the closing of a financing facility for the refinancing of three aircraft with DVB Bank SE. The aircraft portfolio – consisting of one A330-200, one 737-700 and one A319-100 – are currently on long-term finance leases to China Eastern Airlines. The Chinese lessor mandated DVB as the sole arranger for

VAS Aero Services, a global leader in aviation logistics and aftermarket services, reported that America Aero Group, a global aviation company specializing in the acquisition of aftermarket aircraft and inventory, has acquired majority ownership of VAS Aero Services from H.I.G. Capital. In announcing the change of ownership, America Aero Group principal and VAS Executive Chairman