Abelo, the Irish aircraft leasing company, has undergone a change in ownership as an affiliate of Cerberus Capital Management has acquired the business from funds managed by Oaktree Capital Management. The transaction signifies a strategic realignment in Abelo’s financial backing, potentially signaling new directions or growth plans under Cerberus’s stewardship.
Boeing has reached a tentative non-prosecution agreement with the U.S. Department of Justice (DOJ), aiming to resolve a criminal fraud case stemming from two fatal B737 MAX crashes involving Lion Air Flight 610 and Ethiopian Airlines Flight 302. The proposed agreement would prevent a 23 June 2025 trial, avoiding prolonged legal exposure for the aerospace giant.
TAP SGPS, the state-owned holding company of Portugal’s national airline TAP Air Portugal, has officially defaulted on a bond loan agreement with Azul Linhas Aéreas Brasileiras, the Brazilian airline that has long held a financial stake in TAP. The default was formally recognized during a meeting of debenture holders, convened at the request of Azul and its legal representatives,…
EngineStands24, a company based in Estonia specializing in the leasing of engine stands for aviation MRO operations, has officially rebranded as Magnetic Enginestands. The move aligns the business more closely with its parent company, Magnetic Group, which operates a wide portfolio of aviation services.
Fly Modern Ark (FMA), a South African aviation services provider, has expressed its full cooperation with the forensic audit of LAM Mozambique Airlines’ financial accounts, a process initiated amid growing scrutiny of the state-owned carrier’s governance. At the same time, FMA has been forced to initiate legal proceedings to recover outstanding payments for services rendered to the Mozambican airline.
APOC, a Netherlands-based specialist in aircraft component asset management and leasing, has announced the appointment of Craig Skilton as Vice President – Components. This strategic hire is expected to bolster the company’s growing global operations, particularly in the area of component trading and inventory management.
Capital A, the Malaysia-based parent of AirAsia, has secured approval from its shareholders and debtholders for a capital reduction plan valued at up to $1.4 billion. This strategic move is designed to help the company restructure its financial obligations and improve its overall balance sheet health.
JetBlue has sold its corporate venture capital division, JetBlue Ventures, to SKY Leasing, a U.S.-based aircraft leasing company. This strategic move is part of JetBlue’s broader plan to refocus on its core airline business amid its ongoing efforts to return to profitability.
Capital A, the parent company of AirAsia, is aiming to complete its Proposed Regularization and Restructuring Planby June 2025, marking a pivotal step in its post-pandemic recovery roadmap. The plan includes major financial and operational restructuring, with significant implications for the group’s airline subsidiaries and broader aviation assets.
TP Aerospace, a Denmark-based wheel and brake specialist, has entered into a new Land For Less Program agreement with SolitAir, an airline based in the United Arab Emirates. The deal covers support for SolitAir’s current and expanding fleet of Boeing 737NG aircraft, reinforcing TP Aerospace’s growing presence in the Middle East market.
