Rolls-Royce has completed the sale of its 50% shareholding and interest in the RTM322 helicopter engine programme to Turbomeca (a Safran company), for which it has received a cash consideration of €293m. Turbomeca now assumes full responsibility for managing the design, production and support of the RTM322 engine, which powers the Apache, EH101 Merlin and
Marshall Aerospace and Defence Group (Marshall ADG) announced the purchase of Beechcraft’s flagship European MRO business, Hawker Beechcraft Limited. At its Broughton location in the UK, the site, also known as Hawker Beechcraft Services Chester, has provided a full range of maintenance, modification, paint and upgrade services to owners of Hawker and Beechcraft aircraft for
BOC Aviation’s unaudited net profit after tax for the first six months to June 30th, 2013 was US$163m, 57% higher than the same period last year. During the first half, the company – which has been consistently profitable since it was founded in November 1993 – also exceeded US$1bn in cumulative net profit after tax
Jazz Aviation has completed the sale of its London, Ontario hangar and office facility to Fanshawe College for $3.85m in cash. This transaction follows Jazz’s previously announced decision to consolidate its London and Halifax heavy maintenance bases in Halifax following a comprehensive review of its heavy maintenance requirements. In addition, the divestiture of the London,
In the first half of 2013, international technology group RUAG increased net sales by 3.4% year-on-year to CHF845m (previous year: CHF817m). Earnings before interest and taxes (EBIT) rose 13% to CHF44m (CHF 39m). Civil business is gaining further in relation to military business: 56% of sales was generated by civil applications. The fastest growth was
HEICO CORPORATION reported that net income increased 25% to a record $28.9m for the third quarter of fiscal 2013, up from $23.1m for the third quarter of fiscal 2012. For the first nine months of fiscal 2013, net income increased 18% to a record $72.6m from $61.4m for the first nine months of fiscal 2012.
American Capital released that its portfolio company Pan Am Holdings, and its subsidiaries, including Pan Am International Flight Academy, were sold to ANA Holdings, parent company of All Nippon Airways. American Capital and its affiliated funds received $94m in debt and equity proceeds and realized a gain of $12m from the transaction, subject to post-closing
Safran has reached a definitive agreement to sell Globe Motors, a US-based subsidiary of Safran, to Allied Motion on the basis of an expected enterprise value of $90m. The transaction is subject to customary closing conditions, including regulatory approvals and the successful arrangement of debt financing by Allied Motion, and is expected close in the
Finnair has resolved to issue a €150m fixed rate unsecured bond. The funds will be used for general corporate purposes. The bond matures in 5 years and pays an annual coupon of 5%. The bond offering was significantly oversubscribed and allocated to more than 100 investors. The Company will apply for the listing of the
Sparton Aydin has entered into a definitive purchase agreement to acquire certain assets and liabilities of Aydin Displays, an $18m revenue business, in an all-cash transaction. Aydin Displays, a subsidiary of Video Display Corp., located in Birdsboro, Pennsylvania, develops enhanced flat panel display and touch-screen solutions with application-critical performance criteria including ruggedization, high resolution, color
