Financial

GE has agreed to purchase the aviation business of Avio S.p.A., an Italy-based manufacturer of aviation propulsion components and systems for civil and military aircraft, for US$4.3bn (€3.3 bn). GE plans to acquire Avio’s aviation business from Cinven, a leading European private equity firm that has owned Avio since 2006, and Finmeccanica, the Italian aerospace

CIT Group, a global leader in transportation finance, released that it arranged and syndicated a $125m senior secured credit facility to UK-based A J Walter Aviation (AJW), a leading global aircraft spares specialist. Proceeds of the facility will be used to support spare parts acquisitions to service AJW’s rapidly growing customer portfolio.

Boeing Chairman, President and Chief Executive Officer Jim McNerney announced a 10% increase in the company’s regular quarterly dividend to 48.5 cents per share and the resumption of its stock repurchase program with repurchases currently expected to total between $1.5bn and $2.0bn in 2013. “Strong cash generation, consistently solid core operating performance and a positive

Etihad Airways reported the purchase of a majority stake in a new entity incorporated to own airberlin’s topbonus frequent flyer program, the first step in the establishment of a global loyalty management platform. The new entity will seek to offer new opportunities for topbonus members to collect and redeem topbonus miles around the world, including

VT Aerospace has entered into an agreement to acquire 100% equity interest in Volant Aerospace (Volant), for a purchase consideration of US$13.1m (approximately S$16m) subject to post closing adjustments. Following the acquisition, Volant will become a wholly owned subsidiary of VT Aerospace. VT Aerospace, which owns four aerospace operating companies in Mobile, Alabama; San Antonio,

International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, (AIG), has priced $287,042,000 1.492% prefunded secured notes due 2025 guaranteed by the Export-Import Bank of the United States (Ex-Im Bank). “This first-ever Ex-Im Bank financing for ILFC will further support our company’s goals of diversifying capital sources and reducing average funding

Zodiac Aerospace, a world leader in aerospace equipment and systems for commercial, regional, and business aircraft, has entered into a definitive agreement with the shareholders of Northwest Aerospace Technologies (NAT) to acquire the company. NAT, headquartered in Everett, near Seattle, provides engineering services and cabin retrofit program management services to airlines. NAT has about 160

United Technologies has reached agreement to sell its Pratt & Whitney Power Systems unit, currently part of Pratt & Whitney, to Mitsubishi Heavy Industries (MHI). Terms of the agreement were not disclosed and the transaction is expected to close in the second quarter of 2013. Divesting Power Systems allows UTC to focus on its core