HEICO Corporation has released that its Flight Support Group has acquired a 90% stake in Millennium International (Millennium), a frontrunner in business jet avionics repair. The company’s co-founders, Jeanne Rau-Flattery and Dan Rafferty, will retain the remaining ownership and continue to lead operations. Financial details of the transaction were not disclosed. Millennium specialises in the
Spirit AeroSystems Holdings has released that its shareholders have voted in favour of the proposed acquisition by The Boeing Company during a special meeting held on January 31. This approval marks a significant step forward in the merger process, underscoring the confidence shareholders have in the strategic direction of the transaction. The acquisition, which was
Ryanair has commenced construction of its new €40 million (US$42 million) aircraft maintenance facility at Dublin Airport. The state-of-the-art four-bay hangar will create over 200 highly skilled and well-paid jobs for engineers and mechanics, supporting the airline’s expanding fleet. Spanning 120,000 ft², the facility will accommodate both heavy and line maintenance for Ryanair’s growing fleet
The Ministry of Transport of Latvia, airBaltic and Lufthansa Group have signed an agreement for Lufthansa Group to invest €14 million (US$14.7 million) in airBaltic, securing a minority stake and a seat on the airline’s Supervisory Board. As part of the deal, Lufthansa Group will receive a convertible share representing a 10% stake in airBaltic.
Boeing reported a significant fourth-quarter loss on January 28, following a difficult 2024, but shares surged amid optimism that early signs of a turnaround under a new CEO could yield results. The company announced a loss of US$3.9 billion as the company continued to suffer from the effects of a more than seven-week labour strike
Pratt & Whitney, an RTX company, achieved significant growth in the fourth quarter of 2024, with reported and adjusted sales totalling US$7,569 million, marking an 18% increase compared to the previous year. This growth was underpinned by a 31% rise in commercial original equipment (OE), a 17% boost in commercial aftermarket, and an 8% increase
Comply365, a global leader in operational content, safety and training management solutions for the aviation, rail, defence and space industries, has announced the signing of a definitive agreement to acquire Aviation Safety & Quality Solutions S.à r.l (ASQS). This acquisition represents a major milestone in Comply365’s growth strategy, reinforcing its commitment to advancing safety management
Safran Aircraft Engines has completed the acquisition of Component Repair Technologies (CRT), a specialist in aircraft engine parts repair. Based in Mentor, Ohio, CRT employs over 450 personnel and will now serve as Safran’s centre of excellence for repairing large engine components, such as cases and rotating parts, within the Americas. This strategic move aims
Vertical Aerospace, a global aerospace and technology firm, has successfully closed its underwritten public offering, raising gross proceeds of US$90 million. This marks a significant increase from its initial target of US$75 million, driven by strong investor interest. Over US$60 million of the funds came from new investors, while US$25 million was contributed by Mudrick
Boeing has announced an estimated loss of US$4 billion for the fourth quarter of 2024, reflecting significant financial and operational challenges. The company projects a loss of US$5.46 per share and US$15.2 billion in revenue—below analysts’ expectations, according to LSEG estimates. Additionally, Boeing burned through US$3.5 billion in cash during the quarter but raised over
