AMR Corporation, the parent company of American Airlines, reported a net loss of $162 million for the third quarter of 2011, compared to a net profit of $143 million for the same period of 2010. These results reflect the adverse impact of quarter-end volatility in WTI crude oil prices and foreign exchange rates. WTI prices decreased,
Stony Point Group, a private equity and management firm focusing on middle market companies in the aerospace, defense and industrial sectors, reported the acquisition of the assets Broadwing Air Repair, (BAR). Financial terms of the transaction, which closed October 7, were not disclosed. Located in Melbourne, Ark., BAR is an FAA Part 145 Repair Station that provides
Curtiss-Wright Corporation has acquired the assets of South Bend Controls for $10 million in cash. South Bend Controls is a leading designer and manufacturer of highly engineered, solenoid-based components used in critical applications serving the aerospace and defense, industrial and medical markets, and had sales of approximately $8 million in 2010. The business will operate within
AAR CORP. has acquired Airinmar Holdings Limited (Airinmar), an international provider of aircraft component repair management services. The acquisition was paid for from available cash on hand and it is expected to be modestly accretive to earnings over the balance of the Company’s fiscal year 2012. The newly acquired business will operate as part of
Finnair estimates it will not reach profitability in the second half of 2011. According to preliminary results the third quarter is profitable, but the current estimates indicate that the company’s fourth quarter results will be weaker than expected, and therefore the second half of 2011 is expected to be slightly negative. However, the company expects
The Export-Import Bank of the United States (Ex-Im Bank) is supporting its first transaction in the Central Asian nation of Tajikistan: the purchase of Boeing Next-Generation 737-900ER aircraft by Somon Air, a privately owned airline based in Dushanbe, Tajikistan. This is Boeing’s first sale to Somon Air and the first export of its 737-900ER and
Airbus released that all conditions for completion of the offer (the “Offer”) by Airbus Denmark Holding ApS to acquire the shares of Satair A/S, a Danish company listed on the NASDAQ OMX Copenhagen, have been satisfied. The Offer price was DKK 580 in cash per share. At the expiry of the Offer, Airbus DK has received valid acceptances representing
airBaltic, the Latvian national airline, filed for legal protection on September 21st, and submitted a plan to the court to continue operations. The two main shareholders of the airline, the Latvian government ( which owns a 52.6% share), and Baltic Aviation Systems (BAS), the company owned by the airline’s president and CEO Bertolt Flick (47.2%), failed to
United Technologies has reached agreement to purchase Goodrich Corporation for $127.50 per share in cash. This equates to a total enterprise value of $18.4 billion, including $1.9 billion in net debt assumed. United Technologies expects to finance the transaction through a combination of debt and equity issuance.  The equity component is expected to approximate 25% of
Singapore Technologies Engineering (ST Engineering) reported that Vision Technologies Aerospace Incorporated (VT Aerospace) has entered into an agreement to acquire 100% of the shares of DRB Aviation Consultants, (DRB Aviation) for a purchase consideration of $1.45 million (approximately S$1.75 million), effective consideration will be net of debt.  DRB Aviation will be a wholly owned subsidiary of VT
