Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, has acquired certain assets and liabilities from AeroSat Corporation, a supplier of aircraft antenna systems, for $12m in cash, plus the potential for an earn out. Astronics expects the earnout will be between $5 and $20m. AeroSat designs and manufactures
Republic Airways Holdings has entered into a definitive agreement to sell Frontier Airlines to an affiliate of Indigo Partners in an all-cash transaction. Indigo Partners and its principals, led by managing partner William A. Franke, have a history of investing in airline transportation and related industries and creating successful, differentiated companies. Under the terms of
SAS reported that an agreement has been signed to sell 80% of the shares in Widerøe’s Flyveselskap AS (Widerøe) to an investment group consisting of Torghatten ASA, Fjord1 AS and Nordland Fylkeskommune. The transaction was expected to be completed during September 2013. SAS has now transferred 80% of the shares in Widerøe to the investment
Avolon Aerospace Leasing, the international aircraft lessor, announces that Emerald Aviation Finance Limited (the ’Issuer’), a newly established special purpose company, priced a total of US$636,210,000 of Fixed Rate Asset Backed Notes (the ‘Issue’), the proceeds of which will be used by the Issuer to acquire a fleet of 20 aircraft (the ‘Initial Aircraft’) from
Nordic Aviation Capital reported that profit from ordinary operating activities increased 63% in 2012/13, from US$125.6m to US$204.4m. The operating profit, including aircraft value adjustments, increased 51%, from US$95.0m to US$143.7m. These results are in line with company expectations. The 2012/13 annual accounts, which ended 30.06.13 showed an increase in revenues of 51% up from
Rockwell Collins announced guidance for fiscal year 2014. The company expects revenue between $4.5bn and $4.6bn, earnings per share in the range of $4.30 to $4.50, and cash flow from operations of $550m to $650m. Total segment operating margins are expected to be in the range of 21% to 22%. The guidance ranges in this
Air Canada has priced its previously announced private offerings of senior secured first lien notes to be denominated in Canadian dollars and senior secured second lien notes to be denominated in U.S. dollars, as well as an additional private offering of senior secured first lien notes to be denominated in U.S. dollars. Air Canada has
Triumph Group reported that it expects to record pre-tax additional program costs during fiscal year 2014 totaling approximately $68.0m, primarily associated with the 747-8 program. Of the total incremental costs, approximately $44.0m, will be included in the company’s second quarter fiscal year 2014 financial results. The company expects that approximately $11.0m will be reflected in
Erickson Air-Crane Incorporated announced the completion of its previously announced acquisition of Air Amazonia Serviços Aeronauticos Ltda. (“Air Amazonia”) and certain related assets from HRT Participações em Petróleo S.A. (“HRT”). The final terms of the acquisition, which provides Erickson with a five-year aerial services agreement (including annual renewals) with minimum revenue of $29m per year
Air Seychelles reported a strong second quarter and half-year financial performance, reflecting continued solid growth and success in its turnaround strategy. In Q2, the national carrier of the Republic of Seychelles posted total revenues of US$26.03m (up from $10.87m in 2012), a significant increase of 139%. Total revenues for the first half of 2013 reached
