MTU Aero Engines Holding AG has successfully placed a €250m bond on the capital market. It has a five-year term, expiring 2017, and a coupon of 3.0 %. The proceeds of the new issue will be used for general business purposes. The bonds were purchased by institutional investors and retail intermediaries from Germany and abroad,
DVB Bank SE (“DVB”), the Frankfurt-based bank that specialises in transport finance, reported the completion of its sale of a 60% shareholding in TES Holdings Ltd, to two new shareholders, Mitsubishi Corporation, Tokyo, Japan (“MC”) and the Development Bank of Japan Inc. Tokyo, Japan (“DBJ”). MC and DBJ have acquired a 35% stake and a
Singapore Technologies Engineering (ST Engineering) announced that Vision Technologies Aerospace Incorporated (VT Aerospace) has made a successful bid for the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services (PEMCO), including the Boeing 737 freighter conversion Supplemental Type Certificates, for a purchase consideration of US$49.7m (approximately S$64m) at a bankruptcy auction. VT
Goodrich Corporation has received an order from the U.S. Army to provide 80 spare health and usage management system (HUMS) electronic units for the Army’s UH-60 Black Hawk helicopters. The units will be produced by Goodrich’s Sensors and Integrated Systems business in Vergennes, Vt. Deliveries are expected to commence in early 2013. Goodrich provides HUMS
Finnair reported that it sold 6.3% of its shares of Finnish Aircraft Maintenance to Flybe. Finnish Aircraft Maintenance mainly provides maintenance services to Flybe Finland’s ATR turboprop aircraft, at Helsinki-Vantaa airport. As a result of this sale, Finnair and Flybe’s ownership share in Finnish Aircraft Maintenance now corresponds to the two airlines’ share in Flybe
Grupo Aeromexico received US $65m from Delta Air Lines, as part of the carrier’s investment in Mexico’s flagship carrier’s capital stock, thus strengthening its financial position, confirming its expansion project and creating the leading airline alliance in the Mexico-U.S. market. The Mexican Federal Competition Commission (CFC) authorized the operation, that allows Delta Air Lines to
Israel Aerospace Industries reported that sales for Q1 2012 grew by 5% and reached $894m, compared to $855m for Q1 2011. This primarily affects sales in the fields of executive aircraft, engine maintenance and aircraft conversion. Export sales represent 80% of total sales and reached $711million. Sales to the military market represent 76% of total
SkyWest reported that it entered into an agreement on May 23rd, to sell its 26% ownership (20% common and 6% preferred) in the Brazilian airline Trip Linhas Aereas S.A. (“TRIP”) for a price of US$42m. SkyWest has agreed to sell its TRIP shares to Trip Investimentos Ltda., a Brazilian limited liability company affiliated with TRIP.
Volvo Aero released that net sales during the first quarter increased by 5% to SEK 1,682m (1,598). Adjusted for currency fluctuations, sales during the first quarter increased by 1%. Increased productivity contributed to higher profitability. Operating income amounted to SEK 235m compared to SEK 35m the same quarter 2011. The improvement is a result of
Wesco Aircraft Holdings, Inc., a leading provider of comprehensive supply chain management services to the global aerospace industry, has entered into an agreement to acquire substantially all of the assets of Interfast Inc. (“Interfast”) for CDN$134m in cash. Interfast is a Toronto-based value-added distributor of specialty fasteners, fastening systems and production installation tooling for the
