HANGAR8 TO FLOAT
FINANCE Private jet charter operator Hangar8 is to seek admission to the Alternative Investment Market of the London Stock Exchange, on which it hopes to raise £2 million ($3.2 million) with a share placing. Proceeds would be used to invest in staff and equipment so that aircraft maintenance can be brought in-house. Hangar8 manages 19 aircraft of between five- and 10-passenger capacity, and intends to grow the fleet both organically and by acquiring smaller players.
CRANE LANDS USAF BRAKE BUSINESS
TRANSPORTS The US Air Force has picked Crane Aerospace & Electronics to supply anti-skid carbon brake control systems for the Lockheed Martin C-130E/H aircraft stationed at Hill AFB in Utah. The systems will be used with Goodrich brakes. Revenues of over $40 million will accrue from the contract, Crane estimates.
WIZZ AIR STRIKES DEAL WITH JACKSON SQUARE
SALE/LEASEBACKS Central European budget airline Wizz Air has agreed to sell three Airbus A320 twinjets to Jackson Square Aviation and lease them back for an 11-year term. San Francisco-based Jackson Square launched earlier this year with equity from funds managed by Oaktree Capital. The three aircraft covered by the Wizz Air deal are to be delivered by Airbus in the second quarter of 2011.
LOT PLOTS PRIVATISATION
OWNERSHIP Polish carrier LOT aims to privatise by the third quarter of next year and has hired financial services company JP Morgan to advise it on whether to pursue a public offering or sell to a partner.
ROCKWELL COLLINS WINS CHINESE IFE DEAL
NEW PROGRAMMES China's Comac corporation has contracted Rockwell Collins to provide in-flight entertainment systems for its C919 narrowbody passenger jet. As part of the deal, Shanghai Aero Measurement-Controlling Research Institute will support Rockwell Collins in the design, development and integration of the systems.
TV MOGUL CLOSES IN ON SPICEJET
SHAREHOLDINGS Indian television network owner Kalanithi Maran has boosted his stake in low-cost carrier SpiceJet. Maran's company KAL Airways has acquired an additional 2.28% of SpiceJet's share capital, bringing his stake to over 47%. In June, he signalled his intention to acquire a majority stake. The airline's chief executive Sanjay Aggarwal departed that same month and has since been replaced by former FlyDubai executive Neil Mills.
NEXTJET CHOOSES COMMSOFT FOR MRO CONTROL
SOFTWARE UK-based Commsoft has won a contract to supply its Oases maintenance management system to Swedish carrier NextJet, which operates 13 Saab 340As, three British Aerospace ATPs, two Beechcraft 1900Ds and one Beech King Air 200.
LHT, PANASONIC POOL CABIN CAPABILITIES
JOINT VENTURE Panasonic Avionics and the maintenance provider Lufthansa Technik have signed a letter of intent to form a new company that will develop, manufacture and sell cabin management and in-flight entertainment and communications systems for VIP aircraft.
TRAC PASSES THE ROLLS-ROYCE TEST
ENGINES UK-based TRaC has won a two-year contract to supply Rolls-Royce with impact impedance testing services.
Source: Flight International
