Air New Zealand has sold its aircraft interiors company, Altitude Aerospace Interiors, to UK-based aircraft interiors manufacturer AIM Aviation.
In its announcement, AIM Aviation indicates that Altitude Aerospace Interiors’ location is strategically beneficial, stating that the company is “ideally situation for the Far East and Australasian markets, thereby complementing AIM’s strong presence in Europe, the Middle East and North America.”
The company also points to present high-demand for aircraft interiors products, stating:
“With aircraft manufacturers’ backlogs at an all-time high, the global commercial aviation industry is expected to benefit significantly from the increase in air traffic anticipated in the next few years. With its strong reputation for engineering capabilities and customer service, Altitude’s addition to the AIM Aviation group strengthens its position in this exciting and rapidly growing market.”
Mark Edwards, CEO of AIM Aviation, says of the acquisition: “We are very pleased to have the opportunity to combine the strengths of the AlM and Altitude businesses. This deal will further enhance the offering we provide to our airline and leasing customers and OEM partners.”
AIM Aviation and Altitude design, engineer and manufacture cabin interiors for the world’s major commercial airlines.
Combined, AIM and Altitude cover the entire cabin interior from cockpit to rear pressure bulkhead, including premium monuments and bar units, lounges, seat modules, galleys and stowages. The companies list strengths in research and development, materials innovations, design and engineering skills as giving them a unique advantage in what is a highly competitive market.
AIM Aviation is majority owned by TowerBrook Capital Partners, L.P. (“TowerBrook”), a leading international investment management firm. The acquisition of Altitude Aerospace Interiors should be completed by the end of September 2014.
Featured Image: AIM Interiors Concept Galley and Bar, presented at AIX 2014, Hamburg/AIM