Activist investor Searchlight Capital Partners (Searchlight) has confirmed its intention to acquire a 26% stake in Latecoere, the French aeronautics company, through the acquisition of existing stakes held by Apollo Capital Management, Monarch Alternative Capital and CVI Partners, at a price of US$4.31 (€3.85) per share. The total investment is valued at US$106.8 million. A
Viva Air and CFM International have finalized the airline’s selection of CFM engines to power its new fleet of Airbus A320 aircraft. The order, which is valued at US$3.2 billion at list price, includes LEAP-1A new engines to power 35 A320neo aircraft, CFM56-5B new engines to power 15 A320ceo aircraft, and an aftermarket support contract
FL Technics, a global provider of integrated aircraft maintenance, repair and overhaul services, has signed a joint operations agreement to open an EASA certified Line maintenance station in Dubai International Airport (DXB). FL Technics representatives signed the agreement with local partners which entitles them to start the establishment process for the station. The newly established
Boeing has confirmed that fixes to the anti-stall software system on its 737 MAX jet should now prevent any failures of the automated flight control system that kicks in if the jet senses its rate of climb could lead to a stall. While there are still no definitive answers to what caused the recent crashes
Hong Kong-headquartered Cathay Pacific has announced its intention to acquire 100% of low-cost carrier Hong Kong Express (HKE), though HKE’s chairman and major shareholder, Zhong Guosong, is in the process of launching legal action in a bid to stop the sale. If successful, Cathay Pacific will own three of the four airlines operating out of
Having filed for bankruptcy on February 5, German leisure airline Germania has shut down permanently after it failed to find any investors. The closure of the carrier which operated a fleet of 37 aircraft will now see all 1,700 employees laid off. The news will not be welcomed at Airbus either as this will result
Naresh Goyal, the chairman of India’s second-largest commercial airline Jet Airways has been forced to resign amidst the stricken carrier’s continued financial crisis. Currently two thirds of the airline’s fleet has been grounded due to defaulting on lease payments or inability to carry out mechanical repairs. As at the end of March 2018 Jet airways
With Boeing 737 MAX jets still grounded worldwide, representatives from Southwest Airlines Co, American Airlines and United Airlines who respectively operate 34, 24 and 14 MAX jets, visited Boeing’s plant at Renton, Washington this weekend, which is a clear indication that the software patch the plane maker is creating is nearing completion. According to a
Lufthansa Technik has posted record revenues with a 10% increase for 2018 compared to 2017, also surpassing 2017 results despite intensified price pressure and far-reaching investments in digitalization, its international network and personnel. Applicable to Lufthansa Technik AG and its 21 fully consolidated companies, sales revenues climbed by more than €500 million, surging from €5.404
Within trio of executive moves in a bid to accelerate key global partnerships and capabilities, the current CEO of Embraer Commercial Aviation and executive vice president of Embraer S.A, John Slattery, has been appointed as president and CEO for the commercial and aviation services joint venture between Boeing and Embraer. The appointment is subject to
