Airbus and GKN have signed a contract under which GKN will purchase the wing component and assemblies manufacturing unit based at Airbus’ site at Filton, near Bristol, UK. This will result in all operational business, assets and activities, within the parameters agreed, being transferred to GKN. As a result of the transaction, GKN is fully
Lufthansa takes a strategic equity share in Brussels Airlines Acquisition of 45% for 65 million euros / Acquisition of remaining 55% intended Brussels Airlines is embarking on a new future with Lufthansa: Lufthansa Chairman Wolfgang Mayrhuber and SN Airholding Chairman Eitienne Davignon have signed an agreement, which initially envisages a strategic stake in SN Airholding
AMR Corporation, the parent company of American Airlines, has completed the sale of American Beacon Advisors, its wholly owned asset-management subsidiary, to Lighthouse Holdings, which is owned by investment funds affiliated with Pharos Capital Group, LLC and TPG Capital, L.P., two leading private equity firms. AMR received a total consideration of $480 million. While primarily
Gulfstream International Group has entered into an agreement to sell to an institutional investor $5.10 million in face amount of secured original issue discount debentures (the “Senior Debentures”). In addition, Gulfstream will issue to the Investor a warrant to purchase 578,870 shares of Gulfstream common stock, exercisable at nominal value. The Investor has the right
Britain’s third largest tour operator faced bankruptcy as a result of soaring fuel costs and the credit crunch. XL Leisure Group Plc, XL Airways UK Limited, Excel Aviation Limited, Explorer House Limited, Aspire Holidays Limited, Freedom Flights Limited, Freedom Flights (Aviation) Limited, The Really Great Holiday Company plc, Medlife Hotels Limited, Travel City Flights Limited,
Alaska Airlines said it is reducing capacity 8% compared to a year ago, effective with its winter schedule starting Nov. 9 and continuing into 2009. The reduction in capacity represents 15% fewer departures. As a result, Alaska Airlines is reducing its work force by 9 to 10%. “The one-two punch of record oil prices and
The Magellan Group released that ACG Investment Capital Partners, a joint venture between the Aviation Capital Group and FB Transportation Capital LLC, has made an investment in the Magellan Group. The additional capital combined with the relationship with two premier firms in the aviation industry will enable Magellan to continue the strong growth achieved since
The Boeing Company has completed its acquisition of Insitu Inc., a pioneer in the unmanned air systems (UAS) market and leader in the design, development and manufacture of high-performance, low-cost UAS used for intelligence, surveillance and reconnaissance. Insitu, located in Bingen, Wash., designs, develops and manufactures UAS for commercial and military applications. This acquisition, first
Airbus presented to ts European Work Council (ECA) the Power8+ programme. It is designed to deliver cost savings of Euro 650 mio. in 2012, adding to the Power8 target of Euro 2.1 bn for 2010. Power8+ will be partly achieved by extending the Power8 initiatives up to 2012 (Euro 350 mio.) and partly by further
Forward Air Solutions successfully completed its acquisition of certain assets of Service Express, Inc. (
