Oman Air has launched an efficiency programme, entitled Shape and Size, with the aim of achieving substantial reductions in the airline’s expenditure. The move is timed to coincide with the start of 2015 and the onset of new budgets for the year. The Shape and Size efficiency programme is targeting cost reductions across all activities
Air Lease Corporation announced the pricing of its public offering of US$600m in aggregate principal amount of 3.750% unsecured senior notes due 2022 (the “Notes”). The Notes were offered to the public at a price of 99.289% of par. The sale of the Notes is expected to close on January 14th, 2015, subject to satisfaction
TP Aerospace Technics LLC based in Orlando Florida, a fully equipped and operational Wheel and Brake repair business, becomes the latest addition to the TP Aerospace Group. Through an asset buy-out, TP Aerospace, a leading independent Wheel and Brake aftermarket provider, adds repair and overhaul capacity to its American branch, strategically located in central Florida.
CarVal Investors, a leading global alternative investment manager, signed an agreement to acquire a majority holding of AerFin Limited from its current owner, Bob James. Mr. James will remain as the Managing Director and CEO going forward and will retain 20 percent of the company. “The acquisition of AerFin is a compelling investment in itself
Taking Aviation Forward (TAF), a company focused on commercial aviation and known for innovative management, sales, and investments out of Pembroke Pines, FL, has acquired a partnering interest in Aviation Management (AMI). Aviation Management is a full service aircraft engine solutions provider. Its powerplant engineering consultants provide timely, cost-saving solutions to turbine engine operators worldwide.
PCX Aerostructures acquired Cam-Tech Manufacturing on December 23rd, 2014. Based in Mansfield, Texas, Cam-Tech will operate as a wholly owned subsidiary of PCX. Roger Hagger, Cam-Tech’s Vice President, will continue in this role in partnership with Alan Haase, President & CEO of PCX. With headquarters in Newington, CT, PCX Aerostructures is a world class supplier
Triumph Group closed the previously announced agreement with Spirit AeroSystems to take over production of the Gulfstream G650 and G280 wing programs located in Tulsa, Oklahoma, effective December 30th, 2014. The business will operate as Triumph Aerostructures-Vought Aircraft Division-Tulsa and will be included in the Aerostructures Group segment. Under the terms of the agreement, Triumph
HEICO Corporation reported that net income increased 18% to a record US$121.3m, up from US$102.4m in the fiscal year ended October 31, 2013. For the full fiscal year ended October 31, 2014, operating income increased 11% to US$203.4m, up from US$183.6m in the fiscal year ended October 31st, 2013. Operating income was US$53.7m in the
Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, has entered into a definitive agreement to acquire Armstrong Aerospace (“Armstrong”) for approximately US$51m. The agreement is expected to close in January 2015, subject to normal closing requirements. Armstrong Aerospace, located in Itasca, Illinois, is a leading provider of engineering, design
VSE Corporation (VSEC) has signed a definitive agreement to acquire four business units from Killick Aerospace Group, consisting of Prime Turbines (including both U.S. and Germany-based operations), CT Aerospace, Kansas Aviation and Air Parts & Supply Co. The companies to be acquired specialize in maintenance, repair and overhaul (MRO) services and parts supply for corporate
