Aviall, one of the largest independent suppliers of new parts for business, government and commercial aircraft, now falls under the direction of managers at Boeing, following a $1.7 billion acquisition deal completed last month. Chicago-headquartered Boeing will operate the company under the current Aviall name as a wholly owned subsidiary, similar to its arrangement with chart-maker Jeppesen.
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Kenneth Emerick of GM Worldwide Travel has been elected chairman of the NBAA board of directors, replacing Donald Baldwin, who resigned to pursue other career interests. At its regular quarterly meeting last month in Washington, the board also named Jeffrey Lee of IBM to fill the post of vice chairman previously held by Emerick.
Unlike physics, economic forecasting is not an exact science, and significant natural disasters have a way of scattering the tea leaves. Nevertheless, it might be worthwhile to see what two experts are saying.
The DunnAir Business Jet Completion Center, which was scheduled to open its doors earlier this year at Tucson International Airport, is now forecasting an official July 1 opening.
Aviall, one of the largest independent suppliers of new parts for business, government and commercial aircraft, was acquired by Boeing for $1.7 billion. The Chicago-headquartered OEM will operate the company under its current name as a wholly owned subsidiary. Incorporated in 1993, Dallas-based Aviall buys new parts from some 220 OEMs and resells them to general aviation, government and airline customers.
General Electric implemented a policy that requires its vice chairmen to personally pay for any trips–personal or business–on company aircraft once their travel expenses have cost the company $200,000 a year, according to a June 21 filing with the Securities and Exchange Commission.
NASA last month awarded grants to fund a five-month study on how to design and build an airplane that could demonstrate technology to reduce the sonic boom during supersonic flight. The four industry teams–Boeing Phantom Works, Raytheon Aircraft, Gulfstream/Northrop Grumman and Lockheed Martin/Cessna–have each received a $1 million grant.
Europe’s top court has upheld the European Commission’s July 2001 block on a $45 billion merger between Honeywell and General Electric. Both Honeywell and GE have stated that they have no intention of trying to restart the merger, which was first proposed more than four years ago. GE said that its only motivation for appealing the EC decision was to challenge certain legal aspects of the case.
Euroflight, IBM’s European corporate flight department, will shut down by mid-year, resulting in the sale of its two Dassault Falcon 2000s despite their each logging between 800 and 900 flight hours annually. The unions are negotiating with management on the future of the operation’s 20 permanent employees–including seven pilots and seven maintenance technicians–at its Paris Le Bourget airport base.
Aviall has agreed to be purchased by The Boeing Company for a reported $48 per share ($1.7 billion). The acquisition comes with about $350 million in debt. Aviall will become part of Boeing’s Commercial Aviation Services but will operate as a wholly owned subsidiary.