Bristow plans offering to expand fleet
Funding Helicopter services company Bristow is planning to buy more helicopters, including exercising options to acquire five large aircraft, with the proceeds from a forthcoming share offering. The company has registered with the US Securities and Exchange Commission for the proposed offering of $230 million of mandatory convertible preferred stock, including a $30 million over-allotment option.
Bombardier to start Mexico production
Manufacturing Bombardier Aerospace plans to start construction of an assembly plant in Querétaro, Mexico later this year. The Canadian manufacturer says the site, whose current temporary facility takes over Bombardier CRJ200/Challenger 850 fuselage work transferred from Belfast, will begin manufacturing operations in the second half of 2007. The facility will also assume the electrical harness and other structural aircraft component manufacturing now done at Querétaro. Bombardier plans to shift Q400 flight-control work transferred from a supplier to the new plant. The company expects 600 employees at the site by the end of 2007.
UAC set for imminent registration
Consolidation Russia's United Aircraft (UAC) will submit an application to register the company by late September, according to Boris Alyoshin, head of the Federal Industry Agency. RSK MiG and the Kazan Aviation Production Association are being prepared for privatisation in readiness for the registration of the holding, he says. The charter of the company, which provides for the participation of state and private investors, has already been developed and the assets of the companies that will constitute United Aircraft are being assessed. The final formation of assets is scheduled to take place in early 2007.
Goldman Sachs raises Finmeccanica stake
Ownership US-based investment bank Goldman Sachs has increased its participation in Italy's Finmeccanica from 2.01% to 3.28%. Goldman Sachs is the second largest shareholder in Finmeccanica, behind the Italian government, which owns 32.45%.
ILFC forecasts growth on strong results
Leasing US-based lessor International Lease Finance (ILFC) is predicting growing demand for "newer, modern, fuel-efficient aircraft, which comprise the bulk of our fleet, and an overall strengthening of lease rates". The company posted a 24.8% year-on-year rise in its second quarter net income on a 15.9% rise in revenue to $1.05 billion. "We believe we are well positioned in the current industry environment with signed lease agreements for all of our 2006 and almost all of our 2007 deliveries of new aircraft," the lessor says.
Flight seeks influential under-35s
People Flight International is compiling a feature on the most influential young personalities in aerospace and aviation. If you would like to nominate a colleague or acquaintance (35 or under), please email helen.massy.beresford@flightglobal.com specifying their age, current role, brief background and why they deserve to be included in the feature, which will be published later in the year.
Source: Flight International
