|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
Fort Lauderdale, Florida, United States:
GA Telesis LLC (“GAT”) has announced that it has signed a Letter of Intent with Century Tokyo Leasing (“CTL”) for the purchase of new shares in GA Telesis. CTL will hold a minority position in GA Telesis. The existing shareholder base remains unchanged.
GA Telesis has recently announced explosive growth and expansion plans in all areas of its businesses. The fresh capital will allow GA Telesis to make substantial investments in the areas of strategic mergers and acquisitions, aircraft and engine leasing, inventory and supply-chain finance as well as other new initiatives.
On October 17, 2012 GA Telesis announced that it has closed on a new syndicated $100 million credit facility. Led by PNC Bank, N.A., the facility has a three year term and has participation from a total of six global and regional banks. It provides the company with additional financial resources at cost efficient and flexible terms to support the company’s growth.
On October 18, 2012, Air China and GA Telesis formed Beijing Ji-An as a 50/50 joint venture based in Beijing, PRC. The joint-venture is the first, China based, integrated aircraft trader/lessor of mid-aged used aircraft and will also introduce a full-scale aircraft disassembly and redistribution business covering the entire Asian market. The new world class operations will commence full-scale operations from Beijing Capital International Airport.
On November 1, 2012, GA Telesis announced that it had reached and signed amended collective labor agreements (“CLA”) with all of the unions representing the Finnair Engines Services (“FES”) employees that will become part of the newly formed GA Telesis Engines Services (“GATES”) division in Helsinki, Finland. Terms are agreed for five (5) years. Signing the CLA paves the way for GA Telesis to finalize the transition and conclude the transaction previously announced. Currently, FES operates a world-class organization that has third-party agreements for the repairing and overhauling of General Electric CF6-80C2, CFM International CFM56-5B and -5C, and Pratt & Whitney PW2000 jet engines. GATES is the only operation of its kind with direct trucking routes to the Russian and Eastern-European markets
Under CTL’s Medium-Term Management Plan which commenced in 2010, CTL has consistently focused on evolving its core businesses to adapt to the changing environment and building expertise for each asset class, industry and business field in order to develop areas of strength. Through this acquisition, CTL will be able to expand its business domain from aircraft leasing/financing to engine leasing and inventory finance, and to effectively manage the life cycle of commercial aircraft, from new aircraft to part-out of retired aircraft, parts redistribution and MRO. CTL looks to further contribute to the growth of the aviation industry by combining CTL’s know-how in leasing/financing with GAT’s global network coupled with its high-level expertise in the areas of solutions based services targeted at the commercial aerospace industry. In early 2012, CTL acquired a 16.7% stake in Jetstar Japan, a leading Japanese LCC airline. It also recently established a business partnership with Tata Capital Financial Services, a subsidiary to Tata Capital, to provide leasing solutions in India.