Astronics Corporation has closed on the sale of its facility in Ft. Lauderdale, Florida for total consideration of US$9.1 million. Net proceeds were approximately US$8.7 million in cash. The company expects to record a gain in the fourth quarter of 2021 of approximately US$5.0 million. The sale was a result of the consolidation of the
The Qantas Group has entered into binding agreements with a consortium led by LOGOS Property Group for the sale of 13.8 hectares of land in Mascot for AU$802 million. Settlement of the vast majority of the lots is expected in the first half of this financial year, with the funds to be used to reduce
Stratos (Monaco) has announced its investment in Universal Hydrogen Co., the company leading the fight to decarbonize aviation through the adoption of hydrogen as a universal fuel. The investment is part of a funding round recently closed by Universal Hydrogen and was made via Stratos BeYoke Hydrogen fund I, along with a Japan-based financial partner.
Delta Air lines has predicted that the current surge in fuel prices will result in a substantial fourth-quarter pre-tax loss. In the third quarter fuel costs alone accounted for nearly 20% of Delta’s adjusted operating expenses. However, the North American carrier remains optimistic for the fourth quarter with an anticipated positive demand for both international
Atlantic Aviation Group (AAG) has announced its acquisition of Lufthansa Technic Shannon from its parent company, Lufthansa Technic (AG). Both companies are located in Shannon, County Clare, Ireland. Integration will take place over the next few months with the intention of a successful integration by early 2022. Under the terms of the deal, roughly 300
Islamic Corporation for the Development of the Private Sector (ICD) and ALAFCO Aviation Lease and Finance Company K.S.C.P. have signed a four-year syndicated secured financing agreement for US$75 million with a US$50 million participation from ICD making it the lead financier in the transaction. While the aviation sector plays a crucial role in global connectivity
Aviation leasing company LCI has released that its parent company, the Libra Group, has acquired the minority interest in LCI Helicopters held by global investment firm KKR. LCI’s rotorcraft fleet is focused on the latest technology medium and super-medium helicopters manufactured by leading helicopter OEMs including Leonardo, Airbus Helicopters and Sikorsky. These are in operation
India’s largest conglomerate, Tata Sons (Tata), has acquired the country’s government-owned, debt-ridden carrier, Air India, having outbid SpiceJet to return the carrier to the private sector. It is understood that Tata will pay US$2.4 billion, (INR180 billion), while SpiceJet had offered INR151 billion. Tata will absorb INR153 billion of the carrier’s current debt of INR615
The Brazilian Development Bank (BNDES) has approved financing to export 24 Embraer E175 commercial jets to SkyWest Airlines, one of the largest regional aviation company, based in Utah, U.S.A. The deal strengthens Brazil’s industry at a time when it is still feeling the effects of the COVID-19 pandemic and boosts the presence of high-tech Brazilian
SIA Engineering Company (SIAEC) has entered into an agreement with PAS TECHNOLOGIES B.V. (PAS) for the sale of SIAEC’s entire 39.2% shareholding in Asian Surface Technologies (AST) to PAS. AST is a joint venture based in Singapore between SIAEC (39.2%), United Technologies International (20.0%) and PAS (40.8%). Its principal activities include the repair of aircraft
