PAN AM ACQUIRES AEROSERVICE AVIATION
Pan Am International Flight Academy has acquired Miami-based Aeroservice Aviation Center. The business will be Pan Am's seventh training facility and will operate under its part 142 certificate. Pan Am was established by Pan American World Airways in 1980 and carried on after the airline ceased operations in 1991.
MTU TO OPERATE US CF34 STATION
Germany's MTU Aero Engines has secured US Federal Aviation Administration approval for its Appleton, Wisconsin, division to operate as a certified repair station to offer on-wing services for General Electric CF34 engines. It previously had to fly spares and technicians in from its Berlin-Brandenburg maintenance arm.
IGAF REOPENS AIRCRAFT FUND
Investec Global Aircraft Fund has launched its third capital raising, reopening the aircraft fund to new institutional investors following the success of a second capital raising in April 2010 that saw IGAF raise A$65 million ($60 million), bringing total capital invested to around A$140 million since its launch in 2008.
ROCKWELL COLLINS BOOSTS CHINA PRESENCE
Rockwell Collins has changed the legal status of its Shanghai customer support operation from a branch office to a representative office, "which essentially makes our operations here more like a subsidiary", says managing director for China Ron Ho. Rockwell Collins has 10 engineers in China supporting the domestic ARJ21 and MA60 aircraft programmes, but expects to expand with the Comac C919 programme.
SHAREHOLDERS SEAL UNITED-CONTINENTAL MERGER
Shareholders at Continental and United airlines have approved the proposed merger of the carriers, paving the way for the airlines to close the deal by 1 October, operating as a new carrier called United, with aircraft featuring Continental's livery. The company will trade as UAL on the New York Stock Exchange.
US AEROSPACE OPENS CHINA CONNECTION
US Aerospace, the California company behind a surprise Antonov An-70-based bid for the US Air Force KC-X refuelling tanker competition, has signed a strategic co-operation agreement with China's AVIC International Holding for the manufacture and trading of aircraft components and equipment.
IATA TREBLESGLOBAL PROFIT FORECAST FOR 2010
The International Air Transport Association has revised its 2010 industry profit outlook upwards to $8.9 billion, from the $2.5 billion it forecast in June, but projects profitability will drop to $5.3 billion in 2011 as the post-recession bounce dissipates.
MORE'S COMPANY AT AIA
The US Aerospace Industries Association has enrolled 31 new members this year, taking its roster to an all-time high of 133 firms, with 175 associate members.
HAMMER FALLS ON BANKRUPT AEROTHRUST
AeroThrust Corporation, described as the largest US provider of jet engine maintenance, repair and overhaul services, has been sold intact for $5 million at a bankruptcy auction to a group led by Miami-based Air-Capital Group.
Source: Flight International