Concluding a transaction first announced in August, General Dynamics last month finalized its purchase of Jet Aviation at a cost of approximately $2.18 billion from Dreamliner Lux, a company controlled by the Permira Funds.
J.R. “Rick” Hundley has been named president and CEO of San Antonio-based M7 Aerospace, succeeding Ron Frederick, who is retiring in December. Hundley previously was a senior executive at consulting firm Business Strategies International, aerospace manufacturing and service organization Safran USA, Lockheed Martin and General Dynamics.
Al Jaber Aviation, a subsidiary of the Al Jaber Group in Abu Dhabi, today at the Middle East Business Aviation convention in Dubai unveiled details of its entry into the VIP and corporate aviation market by announcing a $1.2 billion investment for the acquisition of 21 corporate jets and bizliners.
Reed Exhibitions, organizer of Asian Aerospace in Hong Kong, said exhibitor commitments are up 60 percent compared with the same period before the last show held there in 2007. Boeing, Bombardier, Lufthansa Technik, SR Technics, MTU and CFM
AMAC Aerospace, launched in July last year, is ready for business in the first of two new hangars at EuroAirport Basel-Mulhouse-Freiburg, Switzerland. According to CEO Heinz Köhli, the start-up maintenance, refurbishment and completion center officially opened its doors yesterday but had already begun work on its first product, an Airbus A320 executive interior for a Middle East client.
Gulfstream Aerospace parent General Dynamics yesterday finalized its purchase of Zurich, Switzerland-based Jet Aviation from Permira Funds private equity group for approximately $2.18 billion, significantly expanding General Dynamics’s aftermarket service footprint around the world. The deal was originally announced on August 19, but had to be approved by antitrust authorities before closing.
Gulfstream Aerospace parent General Dynamics today finalized its purchase of Zurich, Switzerland-based Jet Aviation for approximately $2.18 billion, significantly expanding the General Dynamics aftermarket service footprint around the world. The move not only increases General Dynamics’s maintenance and completions/refurb capability worldwide but also adds 15 FBOs to its portfolio, including five in the U.S. At Gulfstream’s Savannah, Ga.
The CAD maintenance repair station approval allows Jet Aviation Hong Kong to provide locally registered aircraft scheduled and unscheduled line maintenance, airframe and engine repairs, avionics modifications, inspections and defect rectifications as well as AOG support.
Atlantic Turbines International (Atlantic), a Vector Aerospace company, launched its new company brand, Vector Aerospace Engine Services Atlantic, in an announcement on the opening day of NBAA 2008 last month.
Talks between Boeing and its striking machinists could resume this weekend under the terms of an agreement to return to the bargaining table more than a month after 27,000 members of the International Association of Machinists walked off the job September 6.