International Aerospace Coatings (IAC Group) acquired by Tiger Infrastructure Partners

Tiger Infrastructure Partners (Tiger), a private equity infrastructure investor, has announced the acquisition of International Aerospace Coatings (IAC) Group, which includes Eirtech Aviation Services. IAC Group is one of the world’s leading aviation services providers headquartered in Shannon, Ireland and Irvine, California.  IAC’s portfolio of 18 aircraft hangars is strategically located at seven airports and two customer sites in the United States and Europe, providing essential services to customers in the global aviation industry, including aircraft manufacturers, commercial airlines, aircraft leasing companies, air cargo carriers and governments. IAC Group employs more than 1,000 people worldwide, including more than 250 in Read more

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Daher plans to acquire Transports Chabrillac

Daher is in the process of acquiring Transports Chabrillac, the satellite and launcher transporter specialist, to further reinforce its status as a leader in special and multi-modal transportation for the aerospace industry. For more than 60 years, Toulouse, France-based Transports Chabrillac has specialized in providing transportation services for the space industry, serving leading European companies – including Airbus, ArianeGroup and Thales.  The acquisition will consolidate Daher’s status as a specialist in multi-modal solutions for the aviation, defence and space industries. This injection of new expertise will further extend the diverse range of global transportation solutions offered by Daher, from freight forwarding and Read more

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Canadian Meloche Group acquires Hemmingford Aerospace

Hemmingford Aerospace facility ©Meloche Group

Quebec-based Meloche Group, a leader in developing and manufacturing aero structure and aircraft engine components for the aerospace sector, has acquired Hemmingford Aerospace, a key player in the aircraft engine part machining industry. This acquisition is part of Meloche Group’s growth strategy, which aims to double its sales by 2026, increasing it to CA$200 million (£121 million). “We are pleased to welcome the Hemmingford Aerospace team into our group, bringing the number of employees at our five centres of excellence to 500,” stated Hugue Meloche, President & CEO of Meloche Group. “This acquisition consolidates our position in the market while Read more

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Jet Parts Engineering acquires Northeast Aero Compressor

Jet Parts Engineering (JPE), a leading PMA parts and engineered repairs provider, has announced the acquisition of Northeast Aero Compressor (NEACO), a certified 145 repair station and industry leader specializing in the maintenance of complex pneumatic, hydraulic, fuel and electromechanical systems while incorporating DER repair and PMA capabilities. The acquisition of NEACO by JPE creates a diversified leader in PMA parts DER repairs, and component repair/overhaul capabilities to offer a broad array of aftermarket services to its commercial, cargo, regional and military aircraft customers. JPE plans to invest significantly in NEACO’s Bohemia, NY facility to expand its technical resources and Read more

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Atlas Air Worldwide shareholders approve proposed acquisition by investor group

Atlas Air Worldwide, a leading global provider of outsourced aircraft and aviation operating services, has reported that its shareholders voted to approve the company’s pending acquisition by an investor group led by funds managed by affiliates of Apollo Global Management together with investment affiliates of J.F. Lehman & Company and Hill City Capital at its special meeting of shareholders held on November 29. As announced previously, the transaction was unanimously approved by the Atlas Board of Directors, which recommended that Atlas shareholders approve the transaction. Approximately 99.3% of the votes cast were voted in favour of the adoption of the Read more

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Hawaiian Holdings reports 2022 third-quarter financial results

©Hawaiian Airlines

Hawaiian Holdings, parent company of Hawaiian Airlines, has reported its financial results for the third quarter of 2022. The company reported GAAP net loss of US$9.3 million and adjusted net loss of US$7.7 million. EBITDA of US$46.8 million and adjusted EBITDA of US$47.9 million. The company is seeing strong demand throughout its domestic network and a solid recovery in its international network. The company’s overall operating revenue was down 1.9% from third quarter 2019 as its international network is still rebuilding. Other revenue was up 28.2% compared to the third quarter of 2019 driven by a strong quarter of cargo revenue and sales of HawaiianMiles. On October Read more

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Lilium reports successful closing of US$119 million capital raise

©Lilium

Lilium, developer of the all-electric vertical take-off and landing (eVTOL) Lilium Jet, has announced the successful closing of a US$119 million (£100 million) capital raise from existing shareholders, new investors and strategic partners. Participants include Honeywell and Aciturri as well as LGT and its affiliated impact investor Lightrock, Tencent, B. Riley Securities and certain affiliates thereof. The closing of the capital raise occurred in part on November 22, with closing for certain investors occurring shortly thereafter. Lilium’s new CEO, Klaus Roewe, as well as three additional board members, Barry Engle, David Wallerstein and Niklas Zennström, also participated. “We are pleased Read more

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Rex reveals increased profitability on domestic jet operations

©Rex

In the presentation to shareholders at its Annual General Meeting, Regional Express (Rex) will reveal that its unaudited management accounts for October have reported a profit before tax for the domestic jet operations of about AU$2 million, following the marginal profitability reported for the month of September which was the first time that the jet operations reported a monthly profit. Its regional Saab operations are still loss making for October, but its EBITDAR was a positive AU$1 million for the month, having been EBITDAR-positive since September. The company believes that the regional Saab operations will return to monthly profitability by Read more

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Aergo Capital acquires Seraph Aviation, boosting assets by US$2.5 billion

©Aergo Capital

Aergo Capital (Aergo) has announced the company’s acquisition of Dublin, Ireland-based Seraph Aviation Management Limited (Seraph Aviation) for an undisclosed sum. The deal will see Aergo take over the management and administration of 88 aviation assets spread across 38 unique lessees with a combined asset value of US$2.5 billion. This will see the total number of Aergo-owned and managed aircraft to 304 units, including those under LOI, with an asset value of US$6.8 billion. This latest deal will place Aergo among the top-twenty aircraft lessors on a global basis. Founded in 1999, Aergo is a rapidly expanding international aircraft leasing Read more

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Qantas Group upgrades profit expectations for first half of full-year 2023

©Qantas

Continued strength in travel demand has resulted in the Qantas Group upgrading its profit expectations for the first half of full-year 2023 (FY23). The Group now expects an Underlying Profit Before Tax of between AU$1.35 billion and AU$1.45 billion. This represents a AU$150 million increase to the profit range given in early October 2022. Fuel costs remain significantly elevated compared with FY19 and are expected to reach approximately AU$5 billion for FY23, which would be a record high for the Group despite international capacity at around 30% below pre-COVID levels. Operational performance has continued to improve, with Qantas ranking as Read more

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