Lufthansa Group has gained European Commission approval to acquire a 41% stake in ITA Airways for €325 million, paving the way for full ownership by 2025. This deal will make ITA Airways Lufthansa’s fifth network airline, strengthen its position in the Italian market, and expand its reach to new destinations in Africa and Latin America.
Spirit AeroSystems, a major aircraft parts manufacturer, has agreed to be acquired by Boeing for $37.25 per share, representing a 30% premium. Simultaneously, Airbus will acquire certain Spirit assets related to Airbus programs. The deal, valued at $4.7 billion in equity and $8.3 billion in enterprise value, is expected to close by mid-2025.
Boeing has agreed to acquire Spirit AeroSystems for $37.25 per share in Boeing stock, valuing the deal at approximately $8.3 billion. The acquisition includes Spirit’s net debt and involves the divestiture of certain Airbus programs.
Airbus SE has signed a binding term sheet with Spirit AeroSystems to potentially acquire key production operations, ensuring supply chain stability and sustainability for Airbus’s commercial aircraft programs. The proposed transaction involves the acquisition of A350 fuselage sections, A220 wings and mid-fuselage, and A220 pylons.
Boeing has announced a definitive agreement to acquire Spirit AeroSystems for $37.25 per share in Boeing common stock, valuing the deal at approximately $4.7 billion. The acquisition aims to integrate the manufacturing and engineering capabilities of both companies. Concurrently, Spirit has entered into a term sheet with Airbus for the potential sale of certain assets serving Airbus programs.
Hyatt Hotels Corporation has acquired the ‘me and all hotels’ brand from Lindner Hotels AG, aiming to expand its presence in European markets. The acquisition follows a successful collaboration in 2022, which integrated Lindner Hotels & Resorts and ‘me and all hotels’ into the World of Hyatt loyalty program. ‘me and all hotels’ will operate as a standalone brand within Hyatt’s global lifestyle portfolio, which has seen significant growth in recent years.
FlyHouse, a leading force in private aviation, has acquired JetASAP, a platform for private jet charter bookings. This strategic move aims to revolutionize the aviation industry by offering an enhanced booking experience through FlyHouse’s upcoming app. The integration of JetASAP’s technology and expertise with FlyHouse’s customer-centric approach will create a more intuitive and efficient system for private jet travel.
Spain-based TravelPerk has acquired Chicago-based business travel platform AmTrav, marking a significant move into the U.S. market. This acquisition comes at a time of robust growth in the business travel industry, with companies like American Express Global Business Travel (Amex GBT) and American Airlines reporting a surge in travel, especially among global multinationals and small- to medium-sized businesses (SMBs). TravelPerk’s strategic move aligns with the trend of domestic travel and frequent, local trips among corporations and SMBs, respectively. With this acquisition, TravelPerk aims to double its U.S. revenue, building on its impressive 65% year-over-year growth in the American market.
Host Hotels & Resorts, Inc., the largest lodging REIT in the US, reported mixed financial results for the first quarter of 2024, showcasing growth in key metrics amidst challenging comparisons. Total RevPAR for comparable hotels increased by 0.5%, fueled by robust group business and higher food and beverage revenues. However, RevPAR declined by 1.2% due to tough prior-year comparisons and impacts from Maui wildfires and unseasonable weather. Despite a 6.5% decline in net income, Adjusted EBITDAre surged by 8.8%, reflecting the company’s strategic capital allocation and strong performance at The Ritz-Carlton, Naples. Host also acquired two hotels in Nashville, underscoring its commitment to portfolio quality and presence in top performing markets. With a strong balance sheet and positive outlook, Host Hotels remains well-positioned for continued growth in 2024.
Patanjali Foods Ltd., a subsidiary of Patanjali Ayurved, is considering a proposal to acquire the non-food business of its promoter group. The acquisition may include products from dental care, home care, and personal care categories, which account for 50-60% of Patanjali Ayurved’s total revenue.
