The slump in business-jet sales since the 2008 global recession probably will last into 2016 as corporate buyers wait for their businesses to rebound, Rockwell Collins Inc. Chief Executive Officer Kelly Ortberg said.
Rockwell Collins Inc. agreed to acquire Carlyle Group LP’s Arinc Inc., an aviation-information management company, for $1.39 billion to help expand the aerospace-equipment maker’s business outside the cockpit.
Carlyle Group LP, the world’s second-largest manager of investment alternatives to stocks and bonds, said fourth-quarter profit more than tripled as the value of its fund holdings increased and the firm sold assets at a profit.
Rockwell Collins Inc., the maker of aircraft electronics, plans to build an information management services unit centered on recently acquired Arinc Inc., as the company seeks to lead digital communications that could transform aviation over the next 15 years.
Boeing Co. plans to almost double a $2.2 billion cost-saving program as Pentagon spending declines, while supplier Rockwell Collins Inc. said it will revise its health-care benefits next week, adding to job losses.