Blackstone and MB Aerospace (MBAe) announced that private equity funds managed by Blackstone have agreed to acquire MBAe, a leading Tier I engine component manufacturer and repair business, from Arlington Capital Partners. MB Aerospace has facilities across the U.S., U.K., and Poland. The company has a well-balanced manufacturing model providing complex machined and fabricated assemblies
AJW Group is to help TECHNIC ONE, the Russian repair and spare components business, to set up a spare parts pool for Sukhoi Super Jet (SSJ) and MS-21 aircraft, a component repair service, and a spare parts centre for CFM56 engines. The new technical/maintenance facility will be established in the special economic zone in Ulyanovsk
In the first nine months of 2015, MTU Aero Engines AG boosted its revenues by 16% to €3,257.0m (1-9/2014: €2,811.6m). The group’s operating profit grew by 23% to €333.1m (1-9/2014: €270.9m), while the EBIT margin rose from 9.6% to 10.2%. Net income increased by 30% to €231.4m (1-9/2014: €178.3 million). MTU’s commercial maintenance business recorded
Jet Midwest Group has signed an agreement with Sweden based Taby Air Maintenance (TAM) to launch FAA approved full class E cargo conversions for its B model Saab 340’s. The Saab 3408 EASA ST C has already been developed by TAM and approved by EASA. The FAA approval project will be performed at TAM’s maintenance
Garuda Indonesia booked a net income of US$51.4m through the third quarter 2015, an increase of 123.4% compared to the same period last year when it incurred a loss of US$220.1m. The Company also increased total revenue from US$2.83bn through the third quarter 2014 to US$2.84bn during the same period in 2015. Meanwhile, total expenses
airberlin is currently partly owned by Etihad Airways, the second-largest airline in the UAE, who hold a 29.2% stake in the German carrier. Etihad’s investment in the airline allowed them to create a beneficial codesharing agreement for a number of flights which cover Europe, the USA and the UAE. However the new codeshare agreement had
MTU Aero Engines will have a stake in the LM6000-PF+ (PF+), the latest version of General Electric’s (GE) LM6000 aeroderivative gas turbine series. Germany’s leading engine manufacturer has taken a 13% work share as a risk- and revenue-sharing partner in the development and production of this industrial gas turbine, which is derived from the CF6
Boeing has announced that it is considering reducing its production numbers of the 777 model. Currently they are producing 8.3 aircraft a month and a proposed reduction will reduce this down to 7 planes a month. The 777 is a strategic source of cash and one of Boeing’s most profitable planes as it currently has
Safran reported that third-quarter 2015 adjusted revenue was €4,141m, up 15.4% year-on-year at an average EUR/USD rate in Q3 2015 of 1.11. On an organic basis, growth was 4.6%, driven notably by an increase of civil aftermarket revenue (up 18.5% in USD). The full-year 2015 outlook is confirmed for adjusted revenue growth, adjusted recurring operating
Rolls-Royce has reached an agreement worth US$2.4bn for engines and services with HNA Group. HNA Group is a conglomerate with interests in aviation, financial services, tourism and hospitality, logistics, real estate and retail. HNA Aviation currently operates and manages, amongst others, Hainan Airlines, Tianjin Airlines and Capital Airlines, flies to over 250 cities and serves
