Dublin based aircraft lessor, AWAS, has closed a revolving $120m Pre-Delivery Payment (PDP) Facility. The loan is fully underwritten by Investec Bank and will be used to finance the pre-delivery payments of 20 A320 Family aircraft in AWAS’ order pipeline with Airbus that deliver over the next two years.
Air Pacific, the national airline of Fiji, has achieved a significant milestone in its transformation plan, posting a return to profit for the first time in three years, with its financial results for the fiscal year ended 31 March 2012. Despite a challenging aviation market over the last 12 months, Air Pacific Ltd. and Air
B/E Aerospace announced that it has signed a definitive agreement to acquire Interturbine Aviation Logistics GmbH, Interturbine Logistics Solutions GmbH, and Interturbine Technologies GmbH (collectively Interturbine), a leading provider of material management logistical services to global airlines and maintenance, repair and overhaul (MRO) providers. Interturbine is a “One Stop Source,” reducing aircraft downtime for airlines
European Transportation Finance specialist DVB Bank SE has completed the sale of its majority stake in Bridgend-based TES Holdings Ltd. to Japanese investors. Mitsubishi Corporation will take a 35% share of TES Holdings, the parent company of aircraft engine maintenance and asset management business TES Aviation Group, while the Development Bank of Japan will take
Precision Aerospace Components, a growing provider of fasteners and components to the military and aerospace industries under its Freundlich Supply and Tiger-Tight companies, has acquired the assets of Fastener Distribution and Marketing Company, (FDMC). FDMC is the parent company of Aero-Missile Components, (AMC) and Creative Assembly Systems, (CAS). AMC provides fasteners and other components to
Air Works India Engineering (Air Works), India’s leading provider of Aviation Services, has made a strategic investment in Dubai based private aviation specialist, Empire Aviation Group FZCO (EAG). This move will help Air Works increase its footprint in the Middle East and provide world class aircraft management services to its customers in India. Air Works
The Board of Ryanair Holdings plc announced its intention to make an all cash offer of €1.30 per share for the entire issued and to be issued share capital of Aer Lingus Group plc, valuing the current issued share capital of Aer Lingus at approximately €694m. Ryanair intends to make this Offer through its wholly-owned
MTU Aero Engines Holding AG has successfully placed a €250m bond on the capital market. It has a five-year term, expiring 2017, and a coupon of 3.0 %. The proceeds of the new issue will be used for general business purposes. The bonds were purchased by institutional investors and retail intermediaries from Germany and abroad,
DVB Bank SE (“DVB”), the Frankfurt-based bank that specialises in transport finance, reported the completion of its sale of a 60% shareholding in TES Holdings Ltd, to two new shareholders, Mitsubishi Corporation, Tokyo, Japan (“MC”) and the Development Bank of Japan Inc. Tokyo, Japan (“DBJ”). MC and DBJ have acquired a 35% stake and a
Singapore Technologies Engineering (ST Engineering) announced that Vision Technologies Aerospace Incorporated (VT Aerospace) has made a successful bid for the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services (PEMCO), including the Boeing 737 freighter conversion Supplemental Type Certificates, for a purchase consideration of US$49.7m (approximately S$64m) at a bankruptcy auction. VT
