Aircraft lessors Avolon and BOC Aviation have settled lawsuits in the High Court against insurers over jets stranded in Russia after Western sanctions in 2022, the companies announced on February 7. According to REUTERS, the trial, which began last June, involved approximately US$2.7 billion in insurance claims. SMBC Aviation Capital, another major lessor, confirmed it
TRIUMPH Group (TRIUMPH) has released that it has entered into a definitive agreement under which affiliates of growth-focused private equity firms Warburg Pincus and Berkshire Partners will acquire TRIUMPH through a newly formed entity for a total enterprise value of approximately US$3 billion. Upon completion of the transaction, TRIUMPH will become a privately held company,
Setna iO has released that it has reached an agreement to acquire a majority stake in Zulu Global, marking a significant step forward in its mission to enhance efficiency, innovation and value across the aviation supply chain. Zulu Global, renowned for its transparency and agility, provides trusted MRO capabilities across multiple ATA chapters and aircraft
Barnes Group (Barnes), a global provider of highly engineered products, differentiated industrial technologies and innovative solutions, and Apollo, the global alternative asset manager, have announced the completion of the previously disclosed acquisition of Barnes by funds managed by affiliates of Apollo (Apollo Funds). The all-cash transaction carries a total enterprise value of approximately US$3.6 billion.
HEICO Corporation has released that its Flight Support Group has acquired a 90% stake in Millennium International (Millennium), a frontrunner in business jet avionics repair. The company’s co-founders, Jeanne Rau-Flattery and Dan Rafferty, will retain the remaining ownership and continue to lead operations. Financial details of the transaction were not disclosed. Millennium specialises in the
Spirit AeroSystems Holdings has released that its shareholders have voted in favour of the proposed acquisition by The Boeing Company during a special meeting held on January 31. This approval marks a significant step forward in the merger process, underscoring the confidence shareholders have in the strategic direction of the transaction. The acquisition, which was
Ryanair has commenced construction of its new €40 million (US$42 million) aircraft maintenance facility at Dublin Airport. The state-of-the-art four-bay hangar will create over 200 highly skilled and well-paid jobs for engineers and mechanics, supporting the airline’s expanding fleet. Spanning 120,000 ft², the facility will accommodate both heavy and line maintenance for Ryanair’s growing fleet
The Ministry of Transport of Latvia, airBaltic and Lufthansa Group have signed an agreement for Lufthansa Group to invest €14 million (US$14.7 million) in airBaltic, securing a minority stake and a seat on the airline’s Supervisory Board. As part of the deal, Lufthansa Group will receive a convertible share representing a 10% stake in airBaltic.
Boeing reported a significant fourth-quarter loss on January 28, following a difficult 2024, but shares surged amid optimism that early signs of a turnaround under a new CEO could yield results. The company announced a loss of US$3.9 billion as the company continued to suffer from the effects of a more than seven-week labour strike
Pratt & Whitney, an RTX company, achieved significant growth in the fourth quarter of 2024, with reported and adjusted sales totalling US$7,569 million, marking an 18% increase compared to the previous year. This growth was underpinned by a 31% rise in commercial original equipment (OE), a 17% boost in commercial aftermarket, and an 8% increase
