Delta acquired a 49% stake in Sir Richard Branson’s airline Virgin Atlantic – marking the next step towards a full joint venture between the two carriers. Virgin Atlantic will place its code on 91 Delta routes, including both trans-Atlantic and domestic U.S. routes. Delta will place its code on 17 Virgin Atlantic routes, including the
Nordic Aviation Capital is pleased to confirm that it has successfully closed a $230m loan with institutional investment funds managed by three US investors: Highbridge Principal Strategies, Athene Asset Management and Oak Hill Advisors (Europe). The investor group was led by Highbridge Principal Strategies. Nordic Aviation Capital was advised by Clifford Chance. Knight Capital acted
Aviation Finance Corp. (AFC) and Natixis have completed the first ever multi tranche debt capital market $263m Pre-Delivery Payment (PDP) financing for 8 Airbus A330 aircraft to Synergy Group, majority owner of Avianca a leading Latin America airline conglomerate. Airbus will deliver eight A330-200s to the airlines. The aircraft will operate in the groups’ expanding
Aircastle has entered into a definitive agreement with Marubeni Corporation (“Marubeni”) providing for the issuance of approximately 15.25% of the Company’s common shares, after giving effect to the issuance, at a price of $17.00 per share, for gross proceeds of approximately $209m. The closing of the issuance is expected to occur during the second or
TransDigm Group Incorporated reported the successful completion of the cash tender offer by TransDigm’s indirect wholly owned subsidiary, Buccaneer Acquisition Sub Inc. (“Purchaser”), for all of the outstanding shares of Aerosonic common stock for $7.75 per Share in cash, without interest and less any applicable withholding taxes. The Offer expired at 12:00 midnight, New York
HEICO Corporation announced that its Flight Support Group completed its planned acquisition of Reinhold Industries from certain affiliates of The Jordan Company, L.P. HEICO stated that it expects the purchase to be accretive to its earnings per share in the first twelve months following the closing. HEICO further reiterated that Reinhold’s management is remaining with
MB Aerospace, the international aerospace engineering group, announced the acquisition of US-based aero-engine component manufacturing business Delta Industries, which had annual revenues in excess of $60m in 2012. The multi-million dollar deal to acquire Delta, based in Hartford, Connecticut, will expand the MB Aerospace business to projected revenues of more than $160m (£100m) and to
Selima Partners of Tampa, FL, has acquired the Orlando, FL component test business unit from Tektronix Component Solutions. The new entity, Precision Test Solutions, will now expand its services in testing and validating a broad range of devices to ensure they meet military, space and commercial aerospace requirements. The purchase will maintain 45 high-tech jobs
Macquarie Infrastructure Company (MIC) reported that its Atlantic Aviation subsidiary has successfully refinanced all of its previously outstanding long-term debt. On May 31, 2013 Atlantic Aviation drew down the full amount on a 7-year, $465m term loan repaid fully a like amount of bank debt due in October 2014. In addition to the term loan,
IAI’ sales in the first quarter of 2013 amounted to US$849m, compared to US$893m in the corresponding period last year. Export sales accounted for 79% of total sales, amounting to US$673m. Sales to the military market accounted for 72% of total sales. Gross income in the first quarter of 2013 amounted to US$122m (14.4% of
