In what was described as “an attempt to buy off local opposition to a third runway”, last May it was announced that London Heathrow Airport had put together a compensation package extending to some £550m (US$825m) for the purchase of property blighted by the new runway, that sum to also include £250 million (US$375m) for
SAS is completing the acquisition of Cimber after meeting all of the terms of the transaction, including approval from the Danish Competition and Consumer Authority. SAS has appointed Kent Hansen as the new president of the airline. He will succeed the current president on March 1st, 2015. SAS has also appointed Kjetil Grønevik as Finance
Parker Aerospace, a business unit of Parker Hannifin Corporation, the global leader in motion and control technologies, and its Customer Support Operations have signed a long-term agreement with Emirates Airline to provide a comprehensive maintenance package for its fleet of Boeing 777 and Airbus A330/A340 aircraft and engines. Parker will provide maintenance support to Emirates
Esterline Corporation, a leading specialty manufacturer serving aerospace and defense markets, has completed its acquisition of the aerospace and defense display businesses of Belgium-based Barco N.V. for €150m, or approximately US$175m, in cash. The company financed the acquisition primarily using international cash reserves, with the balance funded by borrowings under its existing credit facility. Barco’s
Jazz Aviation, a wholly owned subsidiary of Chorus Aviation, released that its pilots, represented by the Air Line Pilots Association (‘ALPA’) have ratified their tentative agreement reached on January 13th, 2015. The term of this agreement is 11 years expiring on December 31st, 2025. ALPA represents approximately 1380 pilots employed at Jazz. The term of
GE Capital Aviation Services (GECAS), the aircraft leasing unit of GE (GE), completed and closed its acquisition of Milestone Aviation Group, the Dublin-based helicopter lessor, for US$1.775bn plus the assumption or payoff of Milestone’s existing debt. “The acquisition of Milestone is a key part of our growth strategy for 2015 and beyond as we add
Boeing and Okay Airways celebrated the delivery of the carrier’s first Next-Generation 737-900ER (Extended Range). The delivery marks the first 737-900ER to be delivered to a Chinese customer and is the first of eight 737-900ERs that Okay Airways has on order. Okay Airways, the first privately owned airline in China, is headquartered in Beijing with
Bombardier Commercial Aircraft and Chorus Aviation, parent company of Jazz Aviation, have signed a firm purchase agreement whereby Chorus will acquire 13 Q400 NextGen aircraft and options for 10 Q400 NextGen aircraft. Once delivered, the aircraft will be operated by Jazz under the Air Canada Express banner. The Companies also announced Chorus and Jazz as
Unison has won a significant order for tube bending machinery from the precision aerospace engineering company, Supercraft. The machinery will help Supercraft to expand operations at its new manufacturing facility in Brough, UK, in preparation for contracts recently secured from major aerospace customers. It will also provide the software flexibility needed to enhance productivity of
HAECO Group has entered into a long-term agreement with Airbus to provide maintenance and engineering training in Mainland China and Southeast Asia on Airbus aircraft. Under the terms of the agreement with Airbus, the HAECO Group will deploy “Training by Airbus” standards, dynamic tools and teaching techniques to provide Aircraft Original Equipment Manufacturer-backed maintenance training
