AERCAP LAUNCHES SECONDARY SHARE OFFERING

FINANCING Dutch lessor AerCap is planning a secondary public offering of shares under which its owner, Cerberus Capital Management, will make 20 million ordinary shares available, with an option for 3 million more. Cerberus will remain a "significant shareholder" after the offering, AerCap says, adding that it will not receive any of the proceeds from the offering.

SAFRAN SALES GROWTH HIT BY EXCHANGE RATE

RESULTS Safran is looking forward to continuing sales growth in its aerospace divisions, ending the first half with a record 1,439 orders for CFM56 engines. Sales across Safran's aerospace and defence divisions grew in the first half of the year (see graph) offsetting a poor performance in its struggling communications division. But the company's sales growth as a whole would have reached 9.3% at constant exchange rates, compared with the actual figure of 4.7%.

GE AVIATION SYSTEMS TO GROW IN CHINA

EXPANSION GE's Aviation Systems division, formerly Smiths Aerospace, is planning to double the capacity of its facility in China as it adds mechanical systems and aircraft structural components to the engine components work currently done there. Systems president John Ferrie says the company is working on building the third phase of the facility in Suzhou, making it four times the size of the original unit. This will complete the capacity for Smiths at the site, but Ferrie says: "The Suzhou area is still expanding very rapidly in terms of industrial development - it won't be a problem if we want to continue to grow."

BRANSON MAY BUY BACK SIA'S VIRGIN STAKE

INVESTMENT Virgin chairman Sir Richard Branson is considering buying back Singapore Airlines' 49% stake in Virgin Atlantic Airways. Singapore Airlines is said to be reviewing its shareholding. "If Singapore Airlines does decide to sell, it is a possibility that Virgin Group could buy back the stake in Virgin Atlantic," says Virgin.

THIELERT COMPLETES SHARE OFFERING

FUNDING Germany's Thielert has raised cash to fund the potential serial production of engines for two of its original equipment manufacturer clients through a placement of 1.3 million shares. The price for the shares, which represent around 6.5% of Thielert's existing capital, has been set at €21.75 ($29.9). The move follows Thielert's "significant step forward in the relationship with Cessna and the success of the Centurion engine", the company says. As a result, the company now wants to "increase its financial flexibility and strengthen its balance sheet". Around a third of the expected net proceeds of around €28.3 million from the share offering will be used to expand the company's production capacity at its plants in Altenburg and Lichtenstein.




Source: Flight International

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