ATL Partners, an aerospace and transportation focused private equity firm, is partnering with the Public Sector Pension Investment Board, one of Canada’s largest pension investment managers, to form SKY Leasing. As part of the transaction, SKY Leasing will acquire certain assets of Sky Holding Company (“SHC”) controlled by leasing industry veteran Richard Wiley. Mr. Wiley
Delta Air Lines reported financial results for the September 2015 quarter, including adjusted net income of US$1.4bn up 45% from the September quarter of 2014. Delta’s operating revenue for the September quarter decreased 0.6%, or US$71m, including US$235m in foreign currency pressures. Passenger unit revenues declined 4.9%, which includes approximately 2.5 points of impact from
Avianor has completed an agreement to sell its Wheel and Brake Maintenance Repair and Overhaul (MRO) business to AeroRepair Canada, a wholly owned subsidiary of Aero 3 of Londonderry, New Hampshire, USA. Avianor’s wheel and brake MRO facilities located in Mirabel, Quebec and Calgary, Alberta will join the Aero 3 network of four MRO locations
Boeing has acquired Peters Software GmbH, a market leading provider of European Aviation Safety Agency (EASA) based training content for early stage (“ab-initio”) pilot training. Located in Cologne, Germany, Peters Software specializes in curriculum and materials for commercial and private pilots operating in rapidly growing markets aligned with EASA. According to Boeing’s Pilot and Technician
Dynamic International Airways launched a US$97.7m breach of contract lawsuit against Air India in New York Federal Court. Air India sub-contracted Dynamic International Airways for the year 2013 and 2014 for carriage of holy pilgrims from India to Saudi Arabia round-trip. Dynamic carried 47,976 passengers for Hajj 2014 and carried around 6000 passengers for Hajj
Singapore Technologies Engineering (ST Engineering) reported that its aerospace arm has secured new contracts worth US$410m in the third quarter (3Q) of 2015, for projects ranging from airframe and component maintenance, to engine wash and pilot training. New contracts included in the 3Q2015 contracts are heavy airframe maintenance agreements for various Boeing 777-300 and Airbus
Lightweight metals Alcoa reported a third quarter profit as its value-add and upstream portfolios delivered solid results in the face of strong market and currency headwinds. Alcoa has been transforming by building its value-add portfolio for profitable growth and creating a globally competitive upstream business. The Company’s successful multi-year transformation will culminate with the launch
Rolls-Royce plc has successfully priced a U.S. dollar-denominated issue of notes (the “Notes”) raising gross proceeds of approximately US$1,498,740,000. The Notes will be issued by Rolls-Royce plc and guaranteed by Rolls-Royce Holdings plc, pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The transaction consists
Apollo Aviation Group (“Apollo Aviation”), a multi-strategy aviation investment manager, announced today that it raised US$833m for SASOF III, its third aviation fund. The amount raised is well in excess of SASOF III’s US$750m target. SASOF III, an institutionally-focused commingled private equity fund, follows on from SASOF and SASOF II where Apollo Aviation raised US$213m
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
