FLY Leasing, a global leader in aircraft leasing, re-priced its 2012 Term Loan. The interest rate on the amended loan will be LIBOR plus 2.75%, a 0.75% reduction from the previous margin. In addition, the LIBOR floor will be reduced from 1.00% to 0.75%. As of December 31st, 2014, the facility had an outstanding principal
Dubai Aerospace Enterprise (DAE) reported net income for 2014 of US$159.5m (AED 586m), an increase of 43% from US$111.6m (AED 410m) in 2013. Revenue for full year 2014 increased to US$2,112m (AED 7,761m) from US$2,105m (AED 7,735m) for full year 2013. DAE Managing Director Khalifa H. AlDaboos said: “The 2014 financial results reflect a sharp
Delta Air Lines reported financial results for the March 2015 quarter. Delta’s adjusted pre-tax income for the March 2015 quarter was US$594m, an increase of US$150m over the March 2014 quarter on a similar basis. Delta’s adjusted net income for the March 2015 quarter was US$372m and its adjusted operating margin was 8.8%. On a
Panasonic Avionics Corporation (Panasonic) announced the acquisition of Tactel AB (Tactel). Tactel is a leading mobile app and software consultancy in Sweden that counts many prominent Scandinavian companies as its customers. This acquisition is part of an ongoing strategy to enhance Panasonic Avionics’ leadership and capabilities in software and design. Tactel will augment Panasonic Avionics’
Boeing has acquired 2d3 Sensing, a wholly owned subsidiary of OMG plc specializing in motion imagery processing of critical intelligence, surveillance and reconnaissance data generated from aerial platforms. 2d3 Sensing’s software and services are used by the U.S. Air Force and other government and commercial customers. Their products can be found on the ScanEagle and
FedEx Corporation and TNT Express N.V. have reached a conditional agreement on a recommended all-cash offer for all issued and outstanding ordinary shares, including shares represented by American Depositary Receipts of TNT Express for a cash offer price of €8.00 per share cum dividend except for the TNT Express final 2014 dividend of €0.08 in
Etihad Airways, the national airline of the United Arab Emirates, welcomed the decision of Switzerland’s Federal Office of Civil Aviation (FOCA) to approve the airline’s 33.3% investment in the Swiss regional carrier Darwin Airline. Since January, 2014, Lugano-based Darwin Airline has operated as Etihad Regional under a brand and partnership agreement with Etihad Airways. FOCA’s
TransDigm Group Incorporated acquired the aerospace business of Franke Aquarotter GmbH for approximately US$75m in cash on March 31st, 2015. The Company, whose name going forward will be Adams Rite Aerospace GmbH, is located in Ludwigsfelde, Germany and employs approximately 50 people. The Company manufactures proprietary faucets and related products for use on commercial transports
Finnair has acquired Flybe Uk’s 60% ownership of Flybe Nordic for a transaction price of €1 and Flybe Nordic will transfer to Finnair’s ownership on an interim basis. The transaction has been closed on March 31st, 2015. Finnair continues discussions about the continued ownership of Flybe Nordic. Finnair and StaffPoint Holding and G.W. Sohlberg signed
Avioserv, an established late-life aircraft engine parts management company based in San Diego, has been acquired by Aergen Leasing (“Aergen”). Avioserv specializes in the sale, lease and trading of engine parts, engine components and whole engines to airlines, repair facilities and parts distributors. The combined companies have raised an initial US$200m of committed equity capital
