Despite announcing last week that it is laying off 10 percent of its 10,000-strong global workforce because of global recession, aircraft engine manufacturer Pratt & Whitney Canada remains committed to developing new products, according to company president John Saabas. It is working hard to meet, but not exceed, demand, while continuing to support 44,000 in-service engines.
AINalerts » February 19, 2009
Dubai-based JetEx Flight Support has made its first move into FBO management by completing the acquisition of the Flying Group facility at Paris Le Bourget Airport. The Belgian company has sold the FBO for an undisclosed sum so it can focus on its aircraft charter and management activities. According to JetEx CEO Adel Mardini, the Paris acquisition is part of a long-term strategy to establish an international network of FBOs.
Clearwater, Fla.-based fractional provider Avantair saw its year-over-year revenues climb nearly 24 percent to $35.4 million in its second fiscal quarter, which ended December 31. It also narrowed its quarterly loss to $600,000, down 87 percent from the same period a year earlier.
An FAA-requested RTCA NextGen implementation task force is seeking answers to fundamental questions about the future ATC system. It expects to report its findings by August.
JetDirect Aviation Holdings on Tuesday evening announced that it signed an agreement to sell most of the assets of its charter/management company JetDirect Aviation to JDA Acquisition, signaling a possible solution to the financial problems that have plagued JetDirect during the recession. A group of investors led by Beachwood, Ohio-based Brantley Partners created JDA Acquisition. The sale is expected to be completed early next month.