ZODIAC GETS COOKING WITH SELL BUY
Zodiac Aerospace has agreed to acquire German galley manufacturer Sell for undisclosed terms in a move it says will "reinforce" its position in the cabin interiors market, following the acquisition of C&D Aerospace and Driessen Aerospace. Herborn-based Sell, which generated revenues of €179 million ($224 million) last year and employs 1,250 people, ran into supply problems two years ago as it struggled to cope with increased demand, resulting in delays to Boeing 777 deliveries.
BABCOCK & BROWN AIR CHANGES NAME TO FLY
Babcock & Brown Air has changed its name to Fly Leasing, following the company's decision to invest $8.75 million in BBAM, a privately held company formed by the former senior executives of Babcock & Brown Aircraft Management. Fly Leasing will continue to trade on the New York Stock Exchange under the ticker symbol "FLY".
RECESSION HITS PROFIT AT UK'S NATS
UK air navigation service NATS has posted a 30% fall in full-year pre-tax profit, to £101 million ($153 million), owing to recession and higher staff pay and pension costs. NATS says it made £20 million of cost cuts over the year, "most of which are sustainable". The organisation has been partly privatised.
SIKORSKY AFTERMARKET BUYS LIFEPORT
Sikorsky Aircraft's Aerospace Services aftermarket division has bought privately held LifePort, a $65 million revenue Washington state-headquartered aircraft accessories manufacturer that specialises in air medical systems, lightweight armour, interior furnishings and Enflite galley equipment, for an undisclosed sum.
EUROCONTROL TO ASSESS SOLAR-CYCLE IMPACT
Pan-European air navigation organisation Eurocontrol has recruited France's Egis Avia to assess the potential impact of forecast increased solar activity on satellite-based navigation systems. Egis will conduct the study with partners including France's DSNA air navigation service and CNES space agency.
AIRBUS ENGINEERING DEAL GOES TO UK PARTNERS
LANDING GEAR Airbus has awarded a landing gear engineering and support contract to a partnership of two UK firms, Atkins and Stirling Dynamics, which will deliver technical services such as software modifications and systems integration across landing gear control and monitoring systems for types including the A380 and A350.
SPICEJET BOSS QUITS WITH OWNERSHIP CHANGE
Indian low-cost carrier SpiceJet's chief executive Sanjay Aggarwal has quit, as the airline looks set to be taken over by Indian television network owner Kalanithi Maran. Before joining SpiceJet, Aggarwal was the chief operating and chief strategy officer of US-based fractional ownership operator Flight Options.
ARROW AIR SHUTS DOWN, FILES FOR BANKRUPTCY
Arrow Air, the largest all-air cargo carrier based in Miami, Florida, closed its operations on 1 July with $500 million in debt and filed for bankruptcy, leaving 450 employees out of work following months of financial turmoil. The company, which reportedly posted an operating loss of $26 million in 2009 and lost $28 million in 2008, had successfully exited bankruptcy in 2004 through reorganisation.
Source: Flight International