Intrepid Aviation Group Holdings (Intrepid) has announced that it has priced an offering (the Offering) of US$120m in aggregate principal amount of senior notes (the Notes) due 2017. The Notes will be co-issued by Intrepid’s wholly-owned subsidiary, Intrepid Finance Co and will bear interest at a rate of 8.250% per year and were priced at
FLY Leasing Limited, a global leader in aircraft leasing, posted that its annual management fee payable to BBAM, FLY’s manager and servicer, has been reduced from US$10.7m per annum to US$5.7m per annum, or 47%, in connection with the sale of a portfolio of aircraft announced separately today. The fee reduction will take effect as
Embraer has priced an offering of US$1.0bn notes due 2025 with yield of 5.091% per annum, issued through its wholly-owned subsidiary Embraer Netherlands Finance B.V. The notes will be fully and unconditionally guaranteed by Embraer. The notes have been registered under the U.S. Securities Act of 1933 and are expected to be listed on the
Against a background of moderate international economic development, Liebherr recorded a slight change in turnover for the 2014 business year, with a total of €8,823m, 1.6% (€141m) below the previous year’s figure. Liebherr’s construction machinery and mining division achieved a turnover of €5,294m, €336m or 6.0% below the previous year’s figure. The result was positive,
AE Industrial Partners, a private equity investor in aerospace, power generation and specialty industrial companies, has signed an agreement to acquire Belcan Corporation (“Belcan”), an engineering services and technical staffing provider in the aerospace, power generation and industrial markets. Terms were not disclosed. The transaction is expected to close by the third quarter of 2015.
PPG Industries has reached a definitive agreement to acquire Cuming Microwave Corporation based in Avon, Massachusetts, and its wholly-owned subsidiary Cuming-Lehman Chambers, based in Chambersburg, Pennsylvania. The transaction is expected to close in the third quarter, subject to customary closing conditions. Financial terms were not disclosed. Cuming Microwave is a global supplier of specialty coatings
Lightweight, high-performance metals leader Alcoa (AA) is investing US$22m in Hot Isostatic Pressing (HIP) technology at its facility in Whitehall, Michigan. The investment will enable Alcoa to capture growing demand for advanced titanium, nickel and 3D-printed parts for the world’s bestselling jet engines. Steep ramp-up rates for narrow- and wide-body aircraft engines—the top-selling jet engines
During the Annual General Meeting (AGM), Fraport AG’s executive board chairman (CEO), Dr. Stefan Schulte, informed the Group’s shareholders about the key financial figures and air traffic developments in fiscal 2014. The previous year saw worldwide rising demand for mobility, driven primarily by growing markets in Asia. Passenger figures in Europe also increased by more
Etihad Airways achieved its strongest financial results to date in 2014, posting a net profit of US$73m on total revenues of US$7.6bn, up 52.1% and 26.7% respectively over the previous year. The record performance, which marked the airline’s fourth consecutive year of net profitability, also saw earnings before interest and tax (EBIT) up 32.5% to
L-3 Communications acquired UK-headquartered CTC Aviation Group, now known as L-3 CTC. The purchase price is £143m (approximately US$220m)and was funded with cash on hand. The acquisition is expectedto be immediately accretive to L-3’s results of operations. L-3 CTC is a high-quality, global airline pilot training and crew resourcing specialist that offers customized and innovative
