Business Wire | March 24, 2023
Aviation Capital Group LLC (“ACG”) announced the delivery of one new Airbus A320neo aircraft on long-term lease to Spirit Airlines. Powered by the ultra-efficient Pratt & Whitney GTF engines, this is the first of four aircraft scheduled to deliver to the airline from ACG’s order book with Airbus. This is ACG’s first aircraft delivery from Airbus’ facility in Mobile, Alabama.
“We are thrilled to be delivering our first new Airbus A320neo aircraft to Spirit Airlines, which also marks ACG’s first aircraft delivery from Mobile, Alabama,” said Alan Mangels, Vice President of Marketing for ACG. “We are also proud to partner with Spirit Airlines in working towards a cleaner and more sustainable future by investing in fuel-efficient, new technology aircraft that produce lower emissions, use less fuel and create less environmental noise.”
About Aviation Capital Group
Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with approximately 470 owned, managed and committed aircraft as of December 31, 2022, which are leased to approximately 95 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.
Universal Avionics | March 14, 2023
Universal Avionics, a subsidiary of Elbit Systems company, has recently announced the addition of repair services for the Dassault FalconEye product line at its Part 145 Repair Station in Tucson, Arizona. The added repair facility offers improved customer support and enables rapid turn times on Enhanced Vision Systems. Universal Avionics' global services on enhanced vision systems are supplemented by the advanced system's established repair capabilities. In addition, customers in North America will now have access to comprehensive local support for these cutting-edge technologies as Dassault continues to ramp up the production of its aircraft with FalconEye. The FalconEye Combined Vision System (CVS) utilizes a sophisticated database-driven terrain mapping synthetic and multi-sensor camera inputs to provide pilots with enhanced situational awareness through a heads-up display. These cutting-edge technologies facilitate safer approaches during inclement weather and challenging terrain conditions. With FalconEye, you can approach each mission with greater confidence and assurance. Chief Executive Officer at Universal Avionics, Dror Yahav, said, "The FalconEye camera is one of the most sophisticated electrical-optical systems available for commercial aviation. The implementation of repair services in North America for Dassault FalconEye guarantees customers will have first-rate service of the system." (Source – Cision PR Newswire) About Universal Avionics Founded in 1981, Universal Avionics, an Elbit Systems Company, is one of the top manufacturers of innovative avionics systems with forward fit and retrofit solutions currently installed on over 35,000 airplanes and helicopters. The company ensures the safety of pilots and passengers around the world. It offers solutions for navigation, electronic display, terrain awareness, recorders, and enhanced flight vision systems. It is based in Tucson, Arizona, guides pilots and their passengers worldwide and provides solutions for the industry's most extensive diversification of aircraft types.
TransDigm Group Inc. | March 20, 2023
TransDigm Group Incorporated, today announced it has entered into a definitive agreement to acquire Calspan Corporation ("Calspan" or "the Company").
Acquisition of Calspan Corporation
Calspan is a leading independent provider of highly engineered testing and technology development services and systems primarily for the aerospace & defense industry. Headquartered in Buffalo, New York, the Company operates from seven primary facilities across the states of New York, Virginia, Minnesota and California. The Company's state of the art transonic wind tunnel in Buffalo, New York is used across a range of important aftermarket-focused development activities for both the commercial and defense aerospace end markets. Calspan employs approximately 625 people and is expected to generate approximately $200 million in revenue for the calendar year ending December 31, 2023.
Kevin Stein, TransDigm's President and Chief Executive Officer, stated, "We are excited about the acquisition of Calspan. We see opportunity for TransDigm's proven operating model to enhance the Company's established positions across a diverse range of aftermarket-focused aerospace & defense development and testing services. The Company operates within our primary aerospace and defense industry, and its unique service offerings exhibit the earnings stability and growth potential that we have come to expect of our aerospace components-centered businesses. As with all TransDigm acquisitions, we expect the Calspan acquisition to create equity value in-line with our long-term private equity-like return objectives."
The acquisition, which is expected to close during TransDigm's fiscal 2023, is subject to regulatory approvals and customary closing conditions. The acquisition is expected to be financed through existing cash on hand.
About TransDigm Group
TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems.