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Financial

ST Engineering's aerospace arm to acquire Volant Aerospace

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,

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FLY Leasing re-prices $395m Term Loan

FLY Leasing, a global lessor of modern commercial jet aircraft, has re-priced its $395m Term Loan. The interest rate on the amended loan will be LIBOR plus 4.50%, a 1.00% reduction from the previous interest rate of LIBOR plus 5.50%. In conjunction with the re-pricing, FLY Leasing will pay its current Term Loan lenders a

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ILFC announces pricing of 1.492% $287m Ex-Im guaranteed secured notes due 2025

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

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Zodiac Aerospace to acquire Northwest Aerospace Technologies

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

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Delta acquires 49% stake in Virgin Atlantic

Delta Air Lines (DAL) and Virgin Atlantic Airways have reached an agreement for a new joint venture that will create an expanded trans-Atlantic network and enhance competition between the U.K. and North America, offering greater benefits for customers traveling on those routes. As part of this joint venture agreement, Delta will invest $360m in Virgin

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EADS governance and shareholding structure receives far-reaching overhaul

The EADS Board of Directors and the company’s core shareholders have agreed on a far-reaching change of the company’s shareholding structure and governance. This agreement aims at normalising and simplifying the governance of EADS while securing a shareholding structure that allows France, Germany and Spain to protect their legitimate strategic interests. Subject to customary regulatory

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Onex to acquire 50% stake in BBAM for $165m

Onex Corporation has agreed to acquire a 50% interest in BBAM, the world’s third largest manager of commercial jet aircraft, for $165m. The transaction is expected to close by the end of 2012 subject to certain conditions and approvals. Onex will acquire a 35% interest in BBAM from BBAM’s management team and a 15% interest

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Boeing forecasts sufficient financing for rising global aircraft deliveries

Boeing projects the world’s airlines should see reasonable liquidity and pricing for new-aircraft delivery financing in 2013 even as jet builders ramp up production to meet demand, the manufacturer announced in London on December 4th, in issuing its fifth annual finance market forecast. “We expect that despite economic and political challenges, global air travel will

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