Element Financial Corporation, one of North America’s leading equipment finance companies, has entered into an agreement with Cargojet, to finance three Boeing 767-300ER freighter aircraft for approximately $100m. The transaction will provide the Canadian supplier of air cargo services with additional capacity to support its growing client base.
Wesco Aircraft Holdings announced the commencement of a public offering of 6,000,000 shares of its common stock by an affiliate of The Carlyle Group. In addition, the underwriter will have a 30-day option to purchase up to 900,000 additional shares from Carlyle. Upon completion of the offering, Carlyle will beneficially own approximately 24.1% of the
B/E Aerospace has signed a definitive agreement to acquire EMTEQ, a provider of aircraft interior and exterior lighting systems, as well as aircraft cabin management and power systems. The Company also has signed a definitive agreement to acquire F+E Fischer + Entwicklungen GmbH & Co. KG (Fischer) the leading manufacturer of seating products for civilian
The ongoing uncertain economic outlook in Europe and Asia is contributing to weak consumer demand in Finnair’s main markets. Air traffic is expected to grow moderately in 2014. Finnair, however, will not be able to benefit from that growth without progress in its cost savings program and its target cost structure in place. Finnair estimates
Consolidated sales from continuing operations amounted to $91.2m, up from $73.8m in the fourth quarter of fiscal 2013. This $17.4m increase reflects mainly a $14.7m contribution over a two-month period from APPH. Sales to the commercial aerospace market increased 17.9% to $38.0m reflecting commercial sales of $6.9m from APPH over a two-month period. Excluding the
Air Serbia, the national airline of Serbia, has announced significantly improved performance in the first three months of the year with a 66% increase in total passenger numbers to 364,924, compared with the same period in 2013. The airline’s passenger carrying capacity, which is measured by available seat kilometres (ASKs), has jumped 93% resulting in
Odyssey Airlines, the new UK-based business-only carrier, announced the launch of a capital raise on US platform Crowdfunder. It will run concurrently alongside a similar raise on the UK-based platform Crowdcube, which launched earlier this month, with the combined initiative targeting £5m (US$8.4m) to support the company’s next phase of development. The company has also
Triumph Group has entered into a definitive agreement to acquire the hydraulic actuation business of GE Aviation. GE’s hydraulic actuation business consists of three facilities located in Yakima, Washington, Cheltenham, England and the Isle of Man and will be included in the Aerospace Systems Group. The business is expected to add approximately $180m in annual
Boeing announced that it is acquiring AerData Group , which provides integrated software solutions for lease management, engine fleet planning and records management. Based in the Netherlands, AerData also provides technical services for aircraft and engine operators, lessors, and maintenance, repair and overhaul companies. AerData has approximately 120 employees located in the Netherlands, United Kingdom
Singapore Technologies Engineering (ST Engineering) reported that Vision Technologies Aerospace has acquired 100% equity interest in Aviation Academy of America, for a purchase consideration of US$811,238 (approximately $1.02m). Following the acquisition, Aviation Academy of America, will become a wholly owned subsidiary of VT Aerospace. The acquisition is part of the Group’s aerospace sector’s strategic initiative
