ZODIAC REJECTS SAFRAN APPROACH
The board of France's privately controlled Zodiac Aerospace has unanimously rejected an approach from Safran regarding a potential "industrial combination" of the two companies. Safran says it remains convinced of an "obvious logic" for a tie-up given the "inevitable trend" of first-tier aerospace consolidation, but Zodiac, which specialises in control systems and cabin interiors, believes the synergies would amount to less than 5% of its turnover.
VOLVO AERO TO SELL US SERVICE BUSINESS
Volvo Aero is to sell its US subsidiary, Volvo Aero Services, to an undisclosed buyer as it moves to focus on its core aircraft engine components manufacturing operation and free tied-up capital. The sale should close in the third quarter.
RBS AVIATION TO RETURN TO MARKET
Attempts to sell RBS Aviation Capital for $500 million are set to resume after being called off in April as a result of financial market difficulties and uncertainty surrounding the UK general election in May, according to sources. The lessor, which is 84% UK government owned following a 2009 bailout that nationalised its parent, Royal Bank of Scotland, owns or manages 241 aircraft.
LUFTHANSA TECHNIK TO BUILD BERLIN HANGAR
Lufthansa Technik is to construct a new three-bay hangar for operation from 2012 at the future German capital hub, Berlin Brandenburg International airport. The company believes the new airport will "significantly increase" demand at the site, currently the location of Berlin Schönefeld airport.
GE DEAL PROPELS AGC INTO ENGINE LEASING
AGC Aerospace & Defense has entered the aircraft engine leasing market as Aircraft Logistics Group with the closing of an engine purchase and leaseback transaction with GE Aviation.
ASI WEIGHS SALE OF SAFECELL BUSINESS
Entertainment has ordered an independent valuation of its SafeCell aviation business as part of a capital raising programme. SafeCell lets passengers use cell phones on board aircraft without installation of a network infrastructure and jamming system.
FL TECHNICS OPENS FIRST RUSSIAN STATION
Lithuania's FL Technics has opened a line maintenance station in the Russian city of Krasnodar, its first in the country, to service the Boeing 737 fleet of Kuban Airlines. FL now manages nine stations, but wants 30 by 2012 by expanding at regional airports in the Balkan states, Italy, Norway, Poland and Sweden.
URBAN, IABG PUSH FOR X-HAWK PRODUCTION DEAL
Israel's Urban Aeronautics is negotiating a joint venture for development and production by 2015 of a demonstrator of its X-Hawk manned "rotorless" vertical-take-off and landing aircraft by IABG in Dresden. X-Hawk promises the capability of a helicopter without the exposed rotors that hamper urban operations.
TRANSATLANTIC TIE-UP CLEARED
The European Commission has cleared the proposed transatlantic tie-up between British Airways, American Airlines and Iberia. The carriers agreed to give up London Heathrow slots to competitors for routes to New York, Boston, Dallas and Miami.
Source: Flight International