BIRMINGHAM, U.K. -- GKN Aerospace has unveiled plans to increase the capacity and efficiency of its aero-engine manufacturing facility in Trollhaettan, Sweden. The company intends to expand the facility by 5,000 square meters. The expansion will include digitized fabrication processes and increased production capacity to meet growing demand for aero-engines.

The new production area is slated to be fully operational in 2026. GKN said that the investment adds state-of-the-art capacity with advanced automation, robotics, and digital technologies. The company added that this will enable it to drive up productivity, improve quality, and reduce industry lead times of its engine systems and major structural components.

According to GKN, the backlog of aero-engines stands at up to nine years, and the expansion will enable the company to support increasing demand for engines such as the GEnx, the GTF, and the Trent XWB.

"We are seeing record order backlogs and strong growth potential across the industry, and this expansion enables us to support our customers and seize that opportunity. Our Engines business is already an industry leader today, and this investment will not only underpin our future growth but also support the industry's shift to more efficient and sustainable aircraft engines," said Joakim Andersson, President of GKN Aerospace's Engines business.

The expansion follows a January 2024 announcement that GKN is also establishing an Additive Fabrication Centre of Excellence at the Trollhaettan facility, as it positions the Engines business for further growth.

Source: GKN Aerospace Services Ltd

DUBLIN -- The global aviation finance company Avolon has agreed to acquire Castlelake Aviation Ltd (CA Ltd), an entity currently managed by Castlelake LP.

As of March 31, 2024, Castlelake Aviation's total assets were valued at $5.0 billion, including a portfolio of 105 aircraft on lease, commitments for 13 new-technology aircraft, two engines on lease, and nine loans. The portfolio is comprised of 68 percent narrowbody aircraft and 70 percent new-technology aircraft. It has a weighted average aircraft age of 4.7 years, and a weighted average remaining lease term of 8.4 years.

Avolon said that the transaction will accelerate its earnings growth, building its fleet at attractive yields. The company added that the transaction is supported by Avolon's strong balance sheet position, with $8.2 billion of available liquidity at June 30, 2024.

Andy Cronin, Avolon CEO, commented, "This transaction accelerates our growth plans, adding a portfolio of assets that will further strengthen our cashflow and earnings profile. Our balance sheet strength, high levels of liquidity, and established capital markets access have enabled us to acquire these assets. They are complementary to our existing portfolio and will increase our fleet at attractive yields, supporting our positive ratings trajectory."

Joe McConnell, Castlelake Partner and Deputy Co-Chief Investment Officer, said, "We're pleased to collaborate with Avolon on this notable transaction, delivering what we believe is a win-win for all parties: returning capital to Castlelake's and CA Ltd's investor stakeholders, position lessees for ongoing high-quality asset management services, and provide Avolon with a fleet of high-quality aircraft assets."

The CA Ltd portfolio has up to $3.3 billion of transferable debt available to Avolon on closing, with the balance funded from Avolon's existing sources of liquidity. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions.

Source: Avolon

SAVANNAH -- The first Gulfstream G400 business jet intended for dedicated charter operations has been purchased by the German company DC Aviation Group.

"We appreciate DC Aviation's commitment to, and confidence in, the G400, bringing this category-leading aircraft to European charter customers," said Scott Neal, Gulfstream senior vice president of worldwide sales. "The compelling combination of speed, efficiency, and cabin size of the G400 fills a much-needed void in its category. We are seeing strong demand for this aircraft in Europe and around the world."

The new G400 made its first flight in August 2024, officially launching the aircraft's flight test program. The G400 features Pratt & Whitney Canada PW812GA engines and the Gulfstream Symmetry Flight Deck. Customers have a choice of three floorplan options, with seating for up to nine, 11, or 12 passengers.

"We are extremely proud to be pioneering this new aircraft model in Europe," said Marc Ambrosius, managing director of DC Aviation Group. "The introduction of the G400 demonstrates DC Aviation's constant commitment to providing a premier travel experience for our clients."

Headquartered at Stuttgart Airport, DC Aviation Group provides a broad portfolio of services ranging from aircraft management and charter to business jet maintenance and handling services. DC Aviation maintains international locations in Dubai, Malta, Munich, Nice, and San Marino.

Source: Gulfstream Aerospace Corp