Private jet charter company JetSuite and Mosaic Leasing announced an agreement to finance a portion of JetSuite’s growing fleet of Embraer light jets. JetSuite has ordered a total of 50 firm and 50 options on Embraer Phenom 100 light jets. The company plans to launch operations from Los Angeles and Las Vegas next year with
Petters Aviation and its subsidiaries, including MN Airlines LC, d.b.a. Sun Country Airlines filed for protection under Chapter 11 of the United States Bankruptcy Code. Sun Country Airlines will continue to operate and fly its regular flight schedule. Stan Gadek, Chairman and Chief Executive Officer of Sun Country said,
Woodward Governor Company completed the acquisition of MPC Products Corporation. Woodward announced the signing of a definitive stock purchase agreement on August 19, 2008. MPC is an industry leader in the manufacture of high-performance electromechanical motion control systems primarily for aerospace applications. The main product lines include high performance electric motors and sensors, analog and
The sale of the site in Laupheim, Germany, from Airbus to Diehl/Thales was closed with effect from 1 October 2008 and all operational business and assets were transferred. This is in line with the announcement made by Airbus on 1 August 2008.
UAL Corporation reported financing transactions that will add approximately $275 million of cash prior to year end. The company has completed a $125 million aircraft financing agreement, receiving approximately $60 million on September 30th, and will receive the remaining approximately $65 million by mid October. United has also executed agreements and agreements in principle (subject
Frontier Airlines its monthly operating report for August 2008. Frontier reported an operating profit of $3.3 million and a consolidated net loss of $5.6 million. Frontier’s results included the following items: $6.5 million in reorganization items, which included a $4.7 million loss on a sale-leaseback transaction and $1.8 million in professional fees, a mark-to-market non-cash
Delta Air Lines and Northwest Airlines announced that their respective stockholders have overwhelmingly approved the pending merger between the two companies. Delta stockholders approved the issuance of 1.25 shares of Delta common stock for each outstanding share of Northwest stock to be distributed upon closing of the merger, expected later this year. The proposal was
The Boeing Company announced an agreement to acquire Tapestry Solutions, a San Diego-based company specializing in services and software systems that improve the tracking and distribution of equipment, spare parts and personnel for the U.S. Department of Defense and other government and non-government agencies. Tapestry Solutions’ tools, such as the Joint Distribution Logistics Model and
MTU Aero Engines has launched a new cost-reduction initiative intended to save 50 million euros annually, the bulk of it already in 2010. This follows an announcement MTU CEO Egon Behle made at the Analyst and Investor Day the company held in Munich on Sept. 26th. Behle reaffirmed the company’s 2008 forecast and expects MTU
Gulfstream International Group has consummated two debt financings recently announced, bringing in net cash proceeds of approximately $5.1 million. The terms of these financings are detailed in the Company’s Form 8-K filed on September 18, 2008.
