Avolon, the international aircraft leasing company, and Bohai Leasing, the Chinese leasing and financial services company affiliated with HNA Group, have entered into an agreement under which Bohai will make a cash tender offer for 20% of the outstanding common shares of Avolon at a price of US$26 per common share. The Transaction will be
AE Industrial Partners, a private equity investor in aerospace, power generation and specialty industrial companies, has completed its acquisition of Belcan Corporation (“Belcan”), a leading engineering services and technical staffing provider in the aerospace, power generation and industrial markets. Terms were not disclosed. The transaction was previously announced on June 4th, 2015. Concurrent with the
GOL Linhas Aereas Inteligentes has agreed to enter into several strategic transactions with the Constantino Family, GOL’s controlling shareholder, and Delta Air Lines to strengthen the airlines’ strategic alliance and enhance GOL’s financial position and liquidity. As part of the agreement, GOL’s controlling shareholder will invest up to US$90 million in newly issued preferred shares
Lightweight metals leader Alcoa reported solid second quarter 2015 results as the Company’s transformation showed strong progress. Profitability from Alcoa’s growing aerospace and automotive businesses increased year-over-year as mid and downstream investments delivered positive impact. In the upstream, the Primary Metals business was resilient in the face of market headwinds and the Alumina business delivered
KLM signed a €575m revolving credit facility with 10 international banks, finalizing the early refinancing of its credit facility which was due to mature in July 2016. The facility has a tenor of 5 years and shows improved terms compared to KLM’s existing facility. The transaction was launched at €575m and KLM took advantage of
Worldwide Flight Services (WFS) is to acquire a 51% shareholding in Fraport Cargo Services (FCS) as part of a strategic partnership with Fraport AG. The investment is part of WFS’ strategy to continue to expand in Europe’s major cargo markets. Fraport is to retain a 49% share in FCS and will continue to take a
Two Nuremberg-based operators have come together as Axtmann Holding AG, parent company of general aviation and air ambulance specialist operator FAI rent-a-jet, has announced the purchase of a majority stake in Nuremberg-based operator Fly Alpha. The deal sees Axtmann Holding AG take a 51% stake in the company, with an option to complete a full
Rolls-Royce updated its 2015 guidance, including a preview of its expected half-year results. In Civil Aerospace, Rolls-Royce continues to expect 2015 underlying revenue and profit within the guided range provided in February of £7,000m to £7,300m and £800m to £900m respectively. However, the company now expects the impact of reduced Trent 700 deliveries to be
Amadeus has agreed to acquire Navitaire, a wholly owned subsidiary of Accenture that provides technology and business solutions to the airline industry, for US$830m. Navitaire, which focuses on the low-cost and hybrid-carrier segments of the airline industry and has a global customer base of more than 50 operators, provides revenue-generation and cost-streamlining solutions in the
PPG Industries has completed its previously announced acquisition of Cuming Microwave Corporation based in Avon, Massachusetts, and its wholly-owned subsidiary Cuming-Lehman Chambers, based in Chambersburg, Pennsylvania. Financial terms were not disclosed. The acquisition enhances PPG’s portfolio of aerospace coatings with specialty coatings and materials that absorb microwaves and radio waves such as radar. The products
