– Miami-based cargo carrier Fine Air has agreed to buy fellow freight specialist Arrow Air, also of Miami, for $115 million. Both airlines provide scheduled and ACMI services, with Fine Air generating $116 million in revenues during its last financial year and Arrow, a subsidiary of International Air Leases (itself recently bought by PR Inc) some $87.5 million. Arrow is to remain a separate entity after the deal.
– UK aerospace and automotive products manufacturer GKN has completed the $553 million acquisition of Interlake of the USA, which has been merged with its wholly owned subsidiary GKN North America. Interlake's Chemtronics business is a leading supplier of advanced lightweight structural components for aero engines and also specialises in engine fan blade repair.
– US avionics giant Rockwell Collins has exercised an option to acquire 100% of head-up guidance systems manufacturer Flight Dynamics, which was previously operated as a joint venture with Kaiser Aerospace Electronics.
Source: Flight International
