VSE agreed to acquire KELLSTROM AEROSPACE GROUP, FL from AE Industrial Partners for $200m ($185m cash/$15m stock) to improve its position in the commercial aircraft engine aftermarket; deal is expected to close in 4Q24. It also announced public offering of up to 2m shares of common stock at $87 each to finance portion of the purchase price.
Designed to comply with FAA’s Part 103 ultralights rules, most single-seat personal eVTOLs would not require type certification or a pilot license to operate.
Aeros aims to comply with FAA Part 107 regulations for commercial small drone operations despite some limitations the rules impose on delivery in urban areas.
Pilatus Aircraft and F/LIST, a pioneer in innovative cabin solutions, are showcasing a Pilatus PC-24 Super Versatile Jet cabin cross-section at this year’s NBAA-BACE.
Opportunity is ahead for Africa’s MRO sector, as providers in the region work to manage and overcome key constraints. However, challenges include availability of workforce, spares, and onerous regulations, shared panelists during the MRO panel at Aviation Africa.
Airbus says it will cut staff and reorganize its Defense and Space unit to respond to business challenges that have dented the company’s earnings since 2023.
BOEING has secured $10b supplemental credit agreement with BofA, Citibank, Goldman Sachs and JPMorgan. It also announced it may offer from time to time any combination of securities, stock and/or depositary shares to raise $25m.
HONEYWELL received FAA certification for its Aspire 350 hybrid SATCOM terminal that includes legacy and next-gen Iridium safety and Iridium Certus services in one system to provide secure cockpit and cabin airtime services.
MTU AERO ENGINES raised its 2024 earnings guidance based on preliminary results, which show adjusted EBIT margin of 14% (revenue guidance is unchanged). It is now projecting an adjusted EBIT of >€1b for year, up from €950m-€980m.
