Wesco Aircraft Holdings, a leading provider of comprehensive supply chain management services to the global aerospace industry, completed the acquisition of substantially all of the assets of Interfast Inc. on July 3, 2012 pursuant to the definitive agreement announced on May 24, 2012. The CDN$134m acquisition was funded via a combination of cash and borrowings
Virgin America reported its financial results for the first quarter of 2012. With overall fuel costs higher by 47% year-over-year, the financial pressure of the airline’s industry-leading capacity growth and a revenue shortfall associated with the carrier’s transition to a new reservations system, Virgin America reported a first quarter operating loss of $49 million on
Rolls Royce confirmed that it completed the restructuring of its participation in International Aero Engines (IAE) Collaboration, which produces the V2500 engine for the Airbus A320 family of aircraft. Rolls-Royce has sold its equity and programme shares in the IAE Collaboration to Pratt & Whitney, a United Technologies Corp. company, for a consideration of $1.5 billion.
Dublin based aircraft lessor, AWAS, has closed a revolving $120m Pre-Delivery Payment (PDP) Facility. The loan is fully underwritten by Investec Bank and will be used to finance the pre-delivery payments of 20 A320 Family aircraft in AWAS’ order pipeline with Airbus that deliver over the next two years.
Air Pacific, the national airline of Fiji, has achieved a significant milestone in its transformation plan, posting a return to profit for the first time in three years, with its financial results for the fiscal year ended 31 March 2012. Despite a challenging aviation market over the last 12 months, Air Pacific Ltd. and Air
B/E Aerospace announced that it has signed a definitive agreement to acquire Interturbine Aviation Logistics GmbH, Interturbine Logistics Solutions GmbH, and Interturbine Technologies GmbH (collectively Interturbine), a leading provider of material management logistical services to global airlines and maintenance, repair and overhaul (MRO) providers. Interturbine is a “One Stop Source,” reducing aircraft downtime for airlines
European Transportation Finance specialist DVB Bank SE has completed the sale of its majority stake in Bridgend-based TES Holdings Ltd. to Japanese investors. Mitsubishi Corporation will take a 35% share of TES Holdings, the parent company of aircraft engine maintenance and asset management business TES Aviation Group, while the Development Bank of Japan will take
Precision Aerospace Components, a growing provider of fasteners and components to the military and aerospace industries under its Freundlich Supply and Tiger-Tight companies, has acquired the assets of Fastener Distribution and Marketing Company, (FDMC). FDMC is the parent company of Aero-Missile Components, (AMC) and Creative Assembly Systems, (CAS). AMC provides fasteners and other components to
Air Works India Engineering (Air Works), India’s leading provider of Aviation Services, has made a strategic investment in Dubai based private aviation specialist, Empire Aviation Group FZCO (EAG). This move will help Air Works increase its footprint in the Middle East and provide world class aircraft management services to its customers in India. Air Works
The Board of Ryanair Holdings plc announced its intention to make an all cash offer of €1.30 per share for the entire issued and to be issued share capital of Aer Lingus Group plc, valuing the current issued share capital of Aer Lingus at approximately €694m. Ryanair intends to make this Offer through its wholly-owned
