ch-aviation
• Daniel Martinez Garbuno
Air France-KLM has offered Lisbon a share-swap option in connection with TAP Air Portugal, signaling a potential path for the Portuguese carrier’s ownership and strategic alignment. The proposal puts the structure of any transaction, rather than only its valuation, at the center of discussions.
M&A
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Aircraft maintenance software provider Veryon has acquired Polaris Aero, a developer of aviation safety software. The deal expands Veryon’s customer base by more than 200 organizations and combines maintenance and safety software capabilities under one provider.
High activity
Air France-KLM has offered Lisbon a share-swap option in connection with TAP Air Portugal, signaling a potential path for the Portuguese carrier’s ownership and strategic alignment. The proposal puts the structure of any transaction, rather than only its valuation, at the center of discussions.
High activity
Ten U.S. allies committed $302 million to complete funding for the Space Force’s next Wideband Global SATCOM satellite, while commercial operators advanced financing, manufacturing and procurement plans. Elveo Mobile selected Apex Space to produce 320 direct-to-device satellites, Eutelsat ordered 229 additional OneWeb satellites, and Sophia Space secured $300 million.
High activity
ANA Holdings will combine ANA Cargo, Nippon Cargo Airlines and NCA Japan into a single cargo business from April 2027, following its 2025 acquisition of Nippon Cargo. The consolidation is intended to create greater scale, improve efficiency and strengthen the reliability and responsiveness of ANA’s global air freight operation.
High activity
Czech competition authorities have conditionally cleared Pegasus Airlines’ planned acquisition of Smartwings Group, which includes Czech Airlines, after the Turkish low-cost carrier agreed to surrender summer slots on the Prague–Antalya route. The approval follows Turkey’s authorization and removes a major regulatory hurdle to closing the €154 million deal.
South Korean carrier Sirius Airlines is seeking a buyer as part of rehabilitation proceedings, opening a potential ownership or rescue process. The development places the airline’s future, including the viability of its operations and obligations, under review.
High activity
European Commission President Ursula von der Leyen said the EU is updating competition policy to favor strategic consolidations, citing the proposed Thales-Airbus-Leonardo space merger as an example. The policy shift could ease regulatory scrutiny of larger European aerospace combinations intended to strengthen the region’s industrial position.
High activity
Mergers and acquisitions are gathering pace across the aerospace supply chain, with clearer Boeing and Airbus production schedules giving buyers greater confidence in long-term demand. The trend extends a broader consolidation cycle in satellite markets, where major industry players are pursuing larger strategic transactions.
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