TransDigm Group Incorporated completed the acquisition of the assets of the aerospace business of Pexco (“Pexco Aerospace”), a portfolio company of Odyssey Investment Partners, for approximately US$496m in cash. The acquisition was previously announced on April 30th, 2015. Pexco Aerospace is a global leader in the manufacturing of extruded plastic interior parts for use in
Bombardier Business Aircraft confirmed that current economic conditions and geopolitical issues in some market regions, such as Latin America, China and Russia, have impacted order intake levels industry-wide. As a result, Bombardier Business Aircraft will reduce its production rate for Global 5000 and Global 6000 aircraft. Approximately 1,750 employees – up to 1,000 in the
Jet Aviation St. Louis has designed and commissioned the manufacture of a testing machine for flutter dampers on Challengers, becoming one of very few facilities in North America capable of testing flutter dampers. The machine went into service in April, allowing Jet Aviation St. Louis to complete testing of flutter dampers in three to four
Boeing and TUI Group, one of the world’s largest integrated leisure travel companies, have finalized an order for one 787-9 Dreamliner with an option for one further 787-9. The order is valued at US$257m at current list prices. TUI Group also announced that it will substitute two unfilled orders for 787-8s for two 787-9s. The
Aircastle reported that it extended the maturity of its existing unsecured revolving credit facility. The facility, which will be used for working capital, including the acquisition of aircraft, is for US$600m and will now expire on May 13, 2019. Mike Inglese, Aircastle’s CFO, stated, “We appreciate the strong continued support of our bank group and
Vector Aerospace, a global independent provider of aviation maintenance, repair and overhaul services, announced the opening of its new MRO facility in Singapore and concurrently the signing of a 3 year MOU with the Republic Polytechnic of Singapore. The new 5,200 m² Vector Aerospace state of the art facility will be a Pratt & Whitney
China’s entry into the aviation market with a direct competitor for the latest variants of the Airbus A320 and Boeing’s 737, the Comac C919, has been a project beset with problems since its inception, and news has leaked out that its first flight scheduled for the end of 2015 has now been postponed until the
The first A350-900 for TAM Airlines is progressing well in the Final Assembly Line (FAL) in Toulouse, France, with joining of the wings, the horizontal and vertical tail plane, the main landing gear and the tail cone to the fuselage. The A350 XWB is made of 70% advanced materials, including 53% composites, and incorporates the
Air Lease Corporation announced long term lease agreements with Hainan Airlines for two new Boeing 787-9 aircraft, both from ALC’s order book with Boeing. ALC has ordered 46 new Boeing 787-9 and 787-10 aircraft in total for deliveries beginning in spring 2016.
Eastern Air Lines Group report that its operating subsidiary, Eastern Air Lines, has received an Air Carrier Operating Certificate from the US Federal Aviation Administration. Eastern received its certificate and “Part 121” operations specifications, which authorize passenger charters with large aircraft, in a short ceremony on May 13th, at Eastern’s headquarters in Building 5A at
