Boeing, which released its seventh annual aircraft finance market forecast on December 10th, projects that investors and financiers in the major aircraft finance markets will deliver balanced liquidity to fund what is expected to be another record global jetliner production year in 2014. Boeing forecasts industry jetliner deliveries in 2014 totaling $112bn, with 95% of
Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, confirmed that it completed the acquisition of PGA Electronic (“PGA”) on December 5, 2013 for approximately $31.2m. Approximately $17.5m of the purchase price was paid in cash and the balance was paid by the issuance of 264,168 shares of Astronics
Republic Airways Holdings has closed on the sale of Frontier Airlines to an investment fund affiliated with Indigo Partners LLC. Effective upon the closing of the sale, David Siegel, CEO and President of Frontier Airlines, resigned from Republic’s Board of Directors.
AAR CORP. released that its 100% owned subsidiary, Telair International GmbH, has signed a definitive agreement to purchase the cargo loading system assets of Speyer, Germany based PFW Aerospace GmbH. The acquisition will enhance Telair’s market position as one of the leading suppliers globally of cargo loading and baggage handling systems. Upon completion of a
Aircastle plans to offer an aggregate of $300m principal amount of its senior notes due 2018. Aircastle plans to use the net proceeds of the offering for general corporate purposes, including the purchase of aviation assets. Citigroup Global Markets, Goldman, Sachs & Co., J.P. Morgan Securities and RBC Capital Markets are acting as joint book-running
The U.S. Bankruptcy Court for the Southern District of New York approved the settlement of the lawsuit reached with the U.S. Department of Justice and certain states relating to the merger of AMR Corporation and US Airways Group. The court also ruled that the merger may be consummated despite the pendency of a private antitrust
DVB Bank SE announced the issuance of a benchmark bond: On Monday, November 25th, 2013, DVB Bank successfully launched and priced its second €500m senior unsecured benchmark transaction in 2013. Since May 2012, DVB has been establishing its benchmark curve, starting with a three-year maturity followed by two issues with five-year maturity. By means of
Chromalloy, a leading supplier of gas turbine engine component repairs, coatings and castings, reported its acquisition of Trac Group, a tier one component supplier to the aerospace and energy industries. Trac Group provides design, engineering and manufacturing of high and low pressure complex turbine components including blades, segments and vanes for the engine hot section.
HEICO Corporation reported that it increased its $670m revolving credit facility (the “Facility”) to an aggregate potential future capacity of $1Bbn and that it also extended the facility by an additional year until December 2018. Under the amendment, $800m of the Facility is now fully committed for funding and an additional $200m has been committed
Palm Beach Capital, a middle market private equity firm based in West Palm Beach, FL, has acquired 60% of the membership interests of CTS Engines, LLC, from Neff Capital Management, which will retain a 40% ownership. Brian Neff, the Managing Partner of Neff Capital Management, will remain as Chief Executive Officer of the company. Additional
