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First Aviation announces sale of controlling interest in API

First Aviation Services released that it has entered into an agreement to sell the majority of its interest in Aerospace Products International (“API”) to Cleveland-based private equity firm Resilience Capital Partners. API, which is based in Memphis, is a global aviation parts and equipment distributor which also provides supply chain management services to the aviation

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Erickson Air-Crane announces acquisition of Evergreen Helicopters

Erickson Air-Crane Incorporated, a leading operator and the manufacturer of the powerful Erickson S-64 Aircran heavy-lift helicopter, has executed a stock purchase agreement for the purchase of Evergreen Helicopters (EHI), from Evergreen International Aviation. EHI, based in McMinnville, Oregon, is a diversified global provider of air transport services for cargo and personnel to government and

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AAR reports third quarter fiscal year 2013 results

AAR reported third quarter fiscal year 2013 consolidated sales of $520.2m and net income of $18.4m. This compares to year-ago sales of $534.2m and net income of $20.6m. The prior year’s third quarter included an income tax benefit of $4.0m. Sales in the Aviation Services segment increased 9% to $408.2m oand sales in the Technology

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Southern Air's Plan of Reorganization confirmed by bankruptcy court

Southern Air has received confirmation of its “pre-arranged” Plan of Reorganization (Plan) from the U.S. Bankruptcy Court in Wilmington, Delaware, which has been overseeing the Company’s Chapter 11 proceedings following its voluntary filing on September 28, 2012. The Plan received substantial support from key secured creditors as well as unsecured creditors.  The confirmation clears the

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AeroCentury reports fourth quarter and full year 2012 results

AeroCentury an independent aircraft leasing company, reported its operating results for the fourth quarter and the year ended December 31, 2012. The Company reported net income of $1.8m for the fourth quarter of 2012, compared to net income of $1.2m for the fourth quarter of 2012. The Company reported net income of $5.2m for the

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Braathens Aviation successfully completes bond issue

Braathens Aviation has successfully completed a SEK 300m senior unsecured bond issue in the Nordic bond market with maturity in March 2018. The bond carries an interest of 3-month STIBOR plus 5.75%. An application will be made for the bonds to be listed on the Oslo ABM. The proceeds from the bond issue will be

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