Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, has entered into a definitive agreement to acquire the outstanding shares of PECO Inc. (PECO) for approximately $136m in cash. The agreement is expected to close in late June 2013, and is subject to certain conditions, including a review under
TAT Technologies, a leading provider of services and products to the commercial and military aerospace and ground defense industries, reported its results for the three month period ended March 31, 2013. TAT announced revenues of $21.5m and net income of $1.7m for the three months ended March 31, 2013, compared to revenues of $20.7m with
Air Lease Corporation reported a long term lease agreement with Etihad Airways for one new Airbus A321-200 aircraft with sharklets, scheduled for delivery in April 2015. Etihad Airways estimates it will deploy the A321 aircraft on short to medium-haul routes to the Middle East and India.
AWAS has delivered a new Airbus A320-200 passenger aircraft to Aeroflot from its new order pipeline. This is the fifth of six A320s that the lessor will deliver to Aeroflot in 2013-14. These six new A320 aircraft which Aeroflot has contracted from AWAS is part of the airline’s expansion plans and will contribute to strengthening
Bombardier Aerospace reported at its European Regional Review in Munich, Germany that prior to the airliner’s entry-into-service, it is targeting CSeries aircraft line maintenance checks (“A Checks) at intervals of 850 flight hours and base maintenance checks (“C” Checks) at intervals of 8,500 flight hours. Bombardier has been developing a Maintenance Steering Group 3 (MSG-3)-based
As announced in late 2012 and after three years of intense work aimed at integration and reorganization of operations and processes, ground and air equipment modernization, and the adoption of industry best practices, the airlines in Avianca Holdings S.A. (formerly known as AviancaTaca Holding S.A.) begin a new stage in their business development under the
First Aviation Services reported the results for continued operations for the quarter ended March 31, 2013 and year ended December 31, 2012 as restated for the previously announced sale of the majority interest in Aerospace Products International (API) which closed March 18, 2013. Sales from continuing operations for the first quarter increased 18% to $6.1m
Titan Airways, the London Stansted-based, specialist charter airline has successfully achieved IATA’s Operational Safety Audit, IOSA, registration. IATA established this internationally recognised quality-standard for airlines in 2003 and the evaluation system has been designed to comprehensively assess the operational management and control systems of an airline. The Audit covers key aspects of an airline’s operations
TP Aerospace Leasing has been awarded a long-term contract to provide its full service and all inclusive Wheels & Brakes Cycle Flat Rate (CFR) Program to Spain’s favorite charter airline Pullmantur Air. TP Aerospace Leasing will play a significant role in securing continued operational stability for Pullmantur Air at its two main hubs in Madrid,
Aeronautical Engineers (AEI) has been selected by ASL Aviation Group to provide another three firm B737-400SF 11 Pallet Configuration conversions bringing the total number of AEI conversion orders to six. The aircraft are all high gross weight B737-400’s, MSN 25261, 25184 and 25181, all were built in 1992 and will undergo freighter modification in May
