Bombardier to acquire LBAS from Lufthansa Technik and ExecuJet Aviation Group

Bombardier entered (29-Sep-2020) share purchase agreements with each of Lufthansa Technik and ExecuJet Aviation Group to acquire all of the issued and outstanding shares of Lufthansa Bombardier Aviation Services (LBAS) that it does not own. Bombardier stated the transaction enables it to further expand its worldwide customer support footprint by establishing a wholly-owned service centre in Berlin. The transactions are subject to customary closing conditions with closings anticipated to occur before the end of 2020. LBAS is located at Berlin Schoenefeld Airport and has been providing MRO services to Bombardier business aircraft customers since 1997 from 15,000sqm of hangar space. [more - original PR]