Latest news with #AirbusA300
Yahoo
21-05-2025
- Business
- Yahoo
TAT Technologies Expands MRO Partnership with Leading International Cargo Carrier; APU maintenance for Boeing 737, 757, 767, and Airbus A300 fleets
TAT Technologies Expands MRO Partnership with Leading International Cargo Carrier; 5-Year Contract Valued at $40-55 Million Agreement expands APU maintenance support for Boeing 737, 757, 767, and Airbus A300 fleets and adds support for Boeing 777 fleets NETANYA, Israel, May 21, 2025 /PRNewswire/ -- TAT Technologies Ltd. (NASDAQ: TATT), (TASE: TAT Tech), a leading provider of innovative products and services for the commercial and defense aviation markets, announced today the signing of a five-year maintenance, repair, and overhaul (MRO) agreement with one of the world's leading cargo carriers. This agreement is a 5-year extension of an existing contract for APU repairs on the U.S. fleet of 767 and 757 aircraft, now expanded to support the carrier's global fleet. Additionally, under this extension, TAT will provide repair services for two new APU platforms: B737 and A300. The company was also awarded the 777 APU contract for the next 7 years. The parties are expecting to sign the extension for the 777 APU during May- June 2025. The total value of the contracts (including the awarded but not yet signed contract) is estimated to be between $40 million to $55 million over the next five years. This significant agreement builds on the strong collaboration between the parties in recent years, culminating in this global fleetwide support contract. It underscores TAT's growing leadership position in the APU MRO market and the company's commitment to delivering superior service solutions to major aviation customers. Igal Zamir, President and Chief Executive Officer of TAT Technologies, stated: "We are honored to have won this contract which deepens our relationship with an important international cargo customer. The expansion of our existing contract and the addition of new services to this partnership serves as a powerful testament to the strength of our brand and our proven capabilities in the APU MRO business, delivered through our Piedmont Components Services subsidiary. This important win is further validation of our Customer First initiative and our Customer Partnership strategy, as well as the successful go-to-market strategy for our new APU capabilities." About TAT Technologies LTD TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original equipment manufacturing ("OEM") of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund. TAT's activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units. TAT's activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT's Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military. TAT's activities in the area of MRO services for aviation components include the MRO of APUs, landing gears and other aircraft components. TAT's Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military. TAT's activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps. For more information of TAT Technologies Ltd., please visit our website: Contact:Mr. Eran YungerDirector of IRTel: +1-980-451-1115erany@ Safe Harbor for Forward-Looking Statements This press release contains forward-looking statements, which include, without limitation, statements regarding the expanded MRO partnership, anticipated timing of signing the extension, and the length of the contract extension. These statements are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management's current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations including, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, the price and continuity of supply of component parts used in our operations, the change of control that will occur on the sale by the receiver of the Company's shares held by our previously controlling stockholders, and other risks detailed from time to time in the Company's filings with the Securities Exchange Commission, including, its annual report on form 20-F and its periodic reports on form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement. View original content: SOURCE TAT Technologies Ltd. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Chicago Tribune
10-04-2025
- Business
- Chicago Tribune
Gary airport buys 5.7-acre parcel for cargo complex expansion
The Gary/Chicago International Airport Authority has acquired a small but critical parcel needed for its $67 million 100-acre cargo expansion project on the airfield's north side. On Wednesday, the board approved the purchase of the approximate 5.7-acre parcel for $925,000 from SES Inc., a heavy construction sales and service center at 6915 W. Chicago Ave. Airport executive director Dan Vicari said the airport has been trying to acquire the property for several years. The airport authority recently closed on a $16.6 million revenue bond issue to finance several projects, including the cargo center. Meanwhile, Vicari said work is already underway on the cargo complex. He said sewers were in place and concrete work was slated to begin next month. The new cargo complex will be able to accommodate 18 wide-body planes, such as the Airbus A300, a wide-body cargo jet with a maximum payload of over 120,000 pounds. The airport gained state funding for a new $9.8 million fuel pipeline to enable it to fuel planes directly. An earlier release said cargo operations have increased and the airport ranks third in Indiana for its freight volume. In 2020, UPS began air delivery cargo service operations and later signed a long-term lease with the airport. Speculation increased recently that FedEx would occupy a warehouse on 78 acres sold last month for $4.7 million by the Gary Redevelopment Commission in Buffington Harbor. Officials said the buyers planned a $40 million warehouse on the site once home to the Lehigh Cement Co. New property owner Scannell Properties LLC, based in Indianapolis, builds warehouses for FedEx. Vicari declined to discuss the speculation and said any announcement would come from Mayor Eddie Melton's office.
Chicago Tribune
14-03-2025
- Business
- Chicago Tribune
Gary airport bond sale, paired with grants and local funds, targets improvements
Officials at the Gary/Chicago International Airport announced the closing of a $16.55 million bond sale Thursday for capital improvements including the construction of new hangars, renovations to the airport's terminal and an expanded cargo and logistics center. The bond sale ensures the airport remains competitive in the coming years, a release stated. The rate on the bond sale is 4.5%. It's being paired with local funds and grants to complete the projects, the release said. 'This sale will be immensely helpful to our future capital improvement strategy and positions us very well in the coming years in our continued effort to modernize our infrastructure,' said Dan Vicari, airport executive director. 'We've seen substantial growth of our general aviation and cargo services in the past few years, and we will continue to allocate our assets to support these sectors.' The airport is still without commercial passenger service but has ramped up its focus on cargo. In 2020, UPS began cargo service operations and later signed a long-term lease. Last year, the airport broke ground on the first phase of a $67 million cargo services infrastructure investment to boost its growing cargo business. About 100 acres on the airfield's north edge will be transformed into an air cargo complex. It will be able to accommodate 18 wide-body planes, such as the Airbus A300, a wide-body cargo jet with a maximum payload of over 120,000 pounds. The airport gained state funding in 2023 for a new $9.8 million fuel pipeline to enable it to fuel planes directly. The release said cargo operations have increased and the airport ranks third in Indiana for its freight volume. The release said the bonds will be repaid from existing tax increment revenues created in the Airport Development Zone, ensuring there would be no new taxes levied to service the payments. The bonds were rated by S&P Global Rating at BBB+ and were provided credit enhancement by bond insurer Assured Guaranty Inc. Mesirow Financial was the lead underwriter on the sale, with Taft Stettinius & Hollister LLP serving as bond counsel.
Daily Tribune
15-02-2025
- Business
- Daily Tribune
Emirates Marks 25 Years of Service to Bahrain
Emirates celebrated a milestone in its partnership with the Kingdom of Bahrain, marking 25 years of unwavering service. Over the past quarter-century, the airline has continually expanded its operations, fostering vital trade connections and providing Bahraini travellers with seamless access to a vast network of more than 140 destinations worldwide. To commemorate this achievement, Emirates hosted an exclusive dinner on January 25, 2025, bringing together prominent government officials, VIPs, and key members of the travel trade community. The prestigious event served as a tribute to the airline's successful operations and long-standing partnership with Bahrain. A senior Emirates delegation, led by Nabil Sultan, Executive Vice President of Passenger Sales and Country Management, and Reema Al Marzooqi, Area Manager for Bahrain, welcomed HE Dr Shaikh Abdulla bin Ahmed Al Khalifa, Minister of Transportation & Telecommunications, alongside other distinguished government officials, trade partners, and customers. Emirates also honored its longest-serving employees in Bahrain, including Amna Ismaeel Abdulla Ali, Akmal Baig, Naseem Al Shamsi, Emad Al Qadhi, Yasser Kazerooni, Danny Gowda, Khalil Attiya, the Airport Services Manager, and Waheed Abu Alfath Ali, the Cargo Manager, for their invaluable contributions to the airline's success in the Kingdom. The airline's history in Bahrain dates back to January 25, 2000, when its Boeing 777-200 aircraft landed for the first time, launching a crucial route that has since carried over 7.86 million passengers. Today, Emirates offers unmatched connectivity to major leisure, business, and visiting friends and relatives (VFR) destinations, including Manila, London, Kuala Lumpur, Chennai, and Dhaka. In its commitment to enhancing the passenger experience, Emirates recently introduced the Airbus A350 on two of its three daily flights from Bahrain, offering next-generation features across all cabin classes. Bahrain is one of the first destinations to be served by this state-of-the-art aircraft. Nabil Sultan expressed his gratitude, stating, 'As we celebrate 25 years of flying to Bahrain, we thank our partners and customers for their ongoing support. Bahrain is a key destination in our network, and we look forward to continuing our collaboration to support trade and tourism, delivering on our 'Fly Better' promise to our passengers.' Emirates' operations in Bahrain have evolved significantly over the years, growing from double-daily services with a mixed fleet of Airbus A300, A310, and A330 aircraft to its current schedule of 22 weekly flights with a modern fleet of Airbus A350s and Boeing 777s, offering nearly 7,000 seats each way. The airline has also deployed its iconic A380 on several occasions, accommodating peak travel demand, such as for Bahrain's National Day and the Bahrain International Airshow. In addition to passenger services, Emirates SkyCargo has played an integral role in supporting Bahrain's trade sector, transporting over 146,000 tonnes of cargo in the past five years. Key exports include courier items, automotive parts, and mobile phones, while imports primarily consist of chilled meat, pharmaceuticals, and mail from destinations such as the UAE, India, and Hong Kong. Emirates SkyCargo offers unparalleled flexibility, connecting oversized and irregular items like aircraft engines to its freighter fleet through Road Feeder Service, extending its global reach. Further strengthening its ties with Bahrain, Emirates signed a codeshare agreement with Gulf Air in 2022, enhancing connectivity and offering travellers access to an expanded network of destinations. In 2023, Emirates also partnered with the Bahrain Tourism and Exhibition Authority to help promote Bahrain's diverse attractions and bolster tourism. As Emirates looks forward to many more years of collaboration with the Kingdom, its 25th anniversary celebration is a testament to the airline's commitment to delivering exceptional service and supporting Bahrain's growth on the global stage.
Gulf Insider
15-02-2025
- Business
- Gulf Insider
Emirates Marks 25 Years of Service to Bahrain
Emirates celebrated a milestone in its partnership with the Kingdom of Bahrain, marking 25 years of unwavering service. Over the past quarter-century, the airline has continually expanded its operations, fostering vital trade connections and providing Bahraini travellers with seamless access to a vast network of more than 140 destinations worldwide. To commemorate this achievement, Emirates hosted an exclusive dinner on January 25, 2025, bringing together prominent government officials, VIPs, and key members of the travel trade community. The prestigious event served as a tribute to the airline's successful operations and long-standing partnership with Bahrain. A senior Emirates delegation, led by Nabil Sultan, Executive Vice President of Passenger Sales and Country Management, and Reema Al Marzooqi, Area Manager for Bahrain, welcomed HE Dr Shaikh Abdulla bin Ahmed Al Khalifa, Minister of Transportation & Telecommunications, alongside other distinguished government officials, trade partners, and customers. Emirates also honored its longest-serving employees in Bahrain, including Amna Ismaeel Abdulla Ali, Akmal Baig, Naseem Al Shamsi, Emad Al Qadhi, Yasser Kazerooni, Danny Gowda, Khalil Attiya, the Airport Services Manager, and Waheed Abu Alfath Ali, the Cargo Manager, for their invaluable contributions to the airline's success in the Kingdom. The airline's history in Bahrain dates back to January 25, 2000, when its Boeing 777-200 aircraft landed for the first time, launching a crucial route that has since carried over 7.86 million passengers. Today, Emirates offers unmatched connectivity to major leisure, business, and visiting friends and relatives (VFR) destinations, including Manila, London, Kuala Lumpur, Chennai, and Dhaka. In its commitment to enhancing the passenger experience, Emirates recently introduced the Airbus A350 on two of its three daily flights from Bahrain, offering next-generation features across all cabin classes. Bahrain is one of the first destinations to be served by this state-of-the-art aircraft. Nabil Sultan expressed his gratitude, stating, 'As we celebrate 25 years of flying to Bahrain, we thank our partners and customers for their ongoing support. Bahrain is a key destination in our network, and we look forward to continuing our collaboration to support trade and tourism, delivering on our 'Fly Better' promise to our passengers.' Emirates' operations in Bahrain have evolved significantly over the years, growing from double-daily services with a mixed fleet of Airbus A300, A310, and A330 aircraft to its current schedule of 22 weekly flights with a modern fleet of Airbus A350s and Boeing 777s, offering nearly 7,000 seats each way. The airline has also deployed its iconic A380 on several occasions, accommodating peak travel demand, such as for Bahrain's National Day and the Bahrain International Airshow. In addition to passenger services, Emirates SkyCargo has played an integral role in supporting Bahrain's trade sector, transporting over 146,000 tonnes of cargo in the past five years. Key exports include courier items, automotive parts, and mobile phones, while imports primarily consist of chilled meat, pharmaceuticals, and mail from destinations such as the UAE, India, and Hong Kong. Emirates SkyCargo offers unparalleled flexibility, connecting oversized and irregular items like aircraft engines to its freighter fleet through Road Feeder Service, extending its global reach. Further strengthening its ties with Bahrain, Emirates signed a codeshare agreement with Gulf Air in 2022, enhancing connectivity and offering travellers access to an expanded network of destinations. In 2023, Emirates also partnered with the Bahrain Tourism and Exhibition Authority to help promote Bahrain's diverse attractions and bolster tourism. As Emirates looks forward to many more years of collaboration with the Kingdom, its 25th anniversary celebration is a testament to the airline's commitment to delivering exceptional service and supporting Bahrain's growth on the global stage.
