The NTSB issued its preliminary report recently on the mid-air collision between two news helicopters covering a car chase in Phoenix on July 27 in which four people aboard the two helicopters died. According to the Safety Board, the crash occurred while the suspect stopped his vehicle, abandoned it and acquired another vehicle.
AINalerts » August 7, 2007
Denver-based Air Methods Corporation has reached a definitive agreement to acquire all of FSS Airholdings’ stock, the parent company of medical helicopter provider CJ Systems. CJ operates 113 medevac helicopters and fixed wing aircraft and employs 800 nationwide. The deal is valued at $25 million and is expected to close by the end of October. Last year FSS posted a net income of $1.2 million on revenue of $128.8 million.
The FAA last week issued the final environmental impact statement for the New York, New Jersey, Philadelphia airspace redesign, a major project that seeks to reduce delays in and out of the New York and Philadelphia metropolitan areas.
VLJ air-taxi start-up DayJet of Delray Beach, Fla., announced today that it had secured $140 million in debt financing, which it will use to buy its fleet of Eclipse 500s. Previous rounds of private-equity financing had raised $68 million, bringing total financing to $208 million. DayJet founder and CEO Ed Iacobucci said last month at a seminar in New York that raising money for the company has been the hardest thing he’s had to do.
VLJ and piston-twin manufacturer Adam Aircraft experienced a shift at the top yesterday, as former Fairchild Aerospace COO and McDonnell Douglas executive v-p John Wolf replaced founder Rick Adam as chairman and CEO. Wolf joined Adam Aircraft in February and has since served on the board as a liaison. Duncan Koerbel, who also joined the company in February, remains president.