RUAG can look back on a strong financial year. Net profit in 2014 grew 7.5% to CHF 102m. Earnings before interest and taxes (EBIT) were equal to the previous year’s at CHF 115m. All five divisions operated profitably and contributed to the positive Group result. The largest EBIT gains occurred at the Space (+ CHF
Desser Tire & Rubber has acquired aircraft tire distributor, Watts Aviation. Located in Gloucestershire, England, Watts distributes a broad range of tires and tubes for aviation as an authorized distributor for major tire brands. Watts enhances Desser’s global footprint and further solidifies Desser’s commitment to being a global leader in specialty aerospace distribution. Moreover, the
Lufthansa Cargo achieved an operating profit of €100m last year. This represents a significant increase for the cargo airline when compared with the previous year (€79m). Speaking in Frankfurt, Chairman of the Executive Board and CEO Peter Gerber presented a result for the year that stood out from the competition and was achieved in a
Nordic Aviation Capital A/S (NAC) has increased the Debt facility it signed in January 2015 to US$400m. The company will use the proceeds to part finance the acquisition of turboprop and regional jet aircraft, which will then be leased to airline partners around the world. The US$400m facility was led by Deutsche Bank as sole
EMRISE Corporation, a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, has entered into a stock purchase agreement with an affiliate of Data Device Corporation, to sell all of the issued and outstanding shares of the common stock of the Company’s wholly owned subsidiary, EMRISE Electronics, for a cash purchase price of US$22m, net of debt, transaction and other related
Rockwell Collins has acquired Pacific Avionics, a Singapore-based company specializing in technologies used for wireless information distribution, including inflight entertainment and connectivity (IFEC). “This acquisition builds on our overall information management strategy by enabling wireless distribution of digital information aboard the aircraft,” said Kelly Ortberg, CEO and President of Rockwell Collins. Pacific Avionics’ powerful wireless cabin intranet
PK AirFinance, a GECAS Company, closed two separate senior debt facilities with Republic Airways. PK AirFinance arranged US$81m in secured debt financing for Embraer 170LR aircraft in Republic’s fleet, holding the US$66m senior loan and a junior lender holding the US$15m tranche on the five-and-a-half year package. Separately in late 2014, PK AirFinance closed a five-year, US$30m
In fiscal year 2014, the Hamburg-based Lufthansa Technik Group achieved a result just under last year’s record level, with increased revenue of €4.3m. The annual accounts of the 22 consolidated Lufthansa Technik Group companies show an operating result of €392m. Currently Lufthansa Technik looks after 800 customers and a total of 3,200 aircraft. In 2014,
Burnham Sterling Securities, an investment bank specializing in transportation asset finance, has acted as lead arranger and sole book runner in a privately placed transaction for Avianca, Colombia’s national airline, covering two A320 family and one Boeing 787 aircraft. The transaction, which utilized an Enhanced Aviation Investment Vehicle private EETC Structure (“EAIV”), developed by Burnham
BOC Aviation has converted its US$5bn Euro Medium Term Note Program to a US$5bn Global Medium Term Note Program (“GMTN Program”), pursuant to which BOC Aviation may issue Notes in the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-US persons in
