SAS AB (SAS) has received approval from the U.S. Bankruptcy Court for the Southern District of New York for all of its “First Day” motions as part of the company’s voluntary chapter 11 process in the U.S. The approvals granted by the court confirm that SAS is authorised to continue to operate its business in
SITA, a global IT provider for the aviation industry, has signed a US$400 million (£320 million) inaugural sustainability-linked revolving credit facility over a minimum three-year term. The backup facility will support the company’s general business needs, such as developing new solutions and strategies to alleviate the air transport industry’s challenges of today and in the
AMP Aero has finalised the acquisition of aviation aftermarket material solutions provider, Myriad Aero. As of July 5, 2022, AMP Aero Services is now operating globally with offices in Miami, Kansas City, New Delhi India, Istanbul and Hong-Kong. Myriad Aero, headquartered in Kansas City, Missouri, is an experienced provider of airframe and engine material. Prior to starting
SAS and certain of its subsidiaries have voluntarily filed for chapter 11 in the U.S., a legal process for financial restructuring conducted under U.S. federal court supervision. SAS’ operations and flight schedule are unaffected by the chapter 11 filing and SAS will continue to serve its customers as normal, although the strike by SAS Scandinavia
Daher has marked a major expansion of its U.S. industrial presence by acquiring the metallic and composite aerostructures assembly facility in Stuart, Florida, reinforcing the company’s position as a Tier 1 supplier for aircraft manufacturers in North America and beyond. The completion of this acquisition from TRIUMPH is bringing Stuart’s approximately 400 employees into Daher’s
Nordic Aviation Capital (NAC) has closed a five-year senior secured warehouse revolving credit facility with an initial committed amount of US$400 million (the Facility). Deutsche Bank AG acted as sole structuring agent for the Facility. Initial commitments for the Facility were provided by Deutsche Bank AG, Royal Bank of Canada and Citi. Gareth Halpin Executive
Complete Aircraft Group (CAG), part of JMC Group (JMC), the established aviation services business, has finalised the acquisition of MRO Part 145 provider, interiors and paint specialist Aerocare Aviation Services. This formally ratifies its September 2021 terms of agreement and cements CAG’s move into business aircraft support. The Aerocare Aviation Services Limited name remains unchanged.
The battle between Frontier Group Holdings (Frontier) and JetBlue Airways Corp. (JetBlue) for the acquisition of Spirit Airlines Inc. (Spirit) has taken another twist as proxy advisory firm Institutional Shareholder Services Inc (ISS) has changed its recommendation subsequent to the most recent revised offer from Frontier. “On balance, support for the merger with Frontier on
JetBlue has submitted a decisively superior proposal to the Board of Directors of Spirit Airlines to acquire all of the outstanding common stock of Spirit. The further improved proposal, which was submitted at the request of Spirit’s Board and following completion of JetBlue’s diligence review and discussions with Spirit’s management team, is an update to
3-D printing companies CRP Technology and CRP USA have signed an investment agreement with ITT, a diversified leading manufacturer of highly engineered critical components and customised technology solutions headquartered in Stamford, Connecticut (U.S.) and present in more than 35 countries. According to the operation, ITT becomes part of the shareholder structure of CRP Technology and
