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
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
