The Swiss aerospace group RUAG International has sold all shares in RUAG Aerostructures Germany & Hungary to the German Mubea Group at the end of December 2023. The final transfer of ownership (closing) marks another successful step in the implementation of RUAG International’s privatisation strategy. Over many decades, RUAG Aerostructures Germany & Hungary has continuously expanded
Travelport, a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide, has completed its previously announced financing transaction with a group of its existing equity holders and lenders who have invested US$570 million (£452 million) in new equity into the company. The new financing significantly deleverages the company’s balance
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, has announced the sale of its client, Keenan Technical Industries (KTI), to Flightcheck Commercial Aviation Services (a portfolio company of Lineage Capital). The acquisition closed on December 15, 2023. Since its founding in 1990, Keenan Technical Industries (KTI) has been a full-service provider
AAR CORP. has entered into a definitive agreement with Triumph Group to purchase Triumph Product Support for US$725 million in cash. As part of the transaction, AAR expects to receive estimated tax benefits with a present value of approximately US$80 million. Including the estimated tax benefits, the effective purchase price multiple is expected to be
Dubai Aerospace Enterprise (DAE) has successfully obtained a cash insurance settlement totalling approximately US$118 million (£93 million) for aircraft previously leased to Public Joint Stock Company “Aeroflot – Russian Airlines” (Aeroflot). The settlement amount signifies the resolution of DAE’s insurance claims under Aeroflot’s insurance and reinsurance policies, specifically pertaining to seven aircraft and their associated
Orix Aviation, a 100% subsidiary of ORIX Corporation of Japan, has released the successful closing of an inaugural Revolving Credit Facility with Bank of China Dublin Branch. This strategic financing initiative reflects the company’s commitment to continue the expansion of its funding base. Marie-Louise Kelly, Chief Financial Officer, ORIX Aviation commented: “We are delighted to
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing (CDB Leasing), has released that the lessor entered into its inaugural sustainability linked loan (SLL) on December 1, 2023, anchored with a US$625 million (£496 million) syndicated term loan facility. “This innovative facility marks a landmark transaction for the aviation finance space,”
Robinson Aircraft, a hybrid eVTOL aircraft developer (Horizon Aircraft), has announced a strategic investment in the form of a convertible note purchased by certain accounts of Canso Investment Counsel (Canso) and affiliated companies for an aggregate CA$6.7 million. Brandon Robinson, Chief Executive Officer and co-founder of Horizon Aircraft commented, “Canso has a strong history of
IATA’s outlook for the airline industry reveals an optimistic trajectory for 2023 and 2024. Projected net profits are US$23.3 billion in 2023 (2.6% margin) and US$25.7 billion in 2024 (2.7% margin), with operating profits expected to surge from US$40.7 billion in 2023 to US$49.3 billion in 2024. In 2024, total revenues are set to reach
Travelport Worldwide Limited (Travelport), a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide, has released that a group of its existing equity holders and lenders have agreed to invest US$570 million (£452 million) of new equity financing into the company. The new financing will give the company a
