This article is based on an official press release from AerFin.

AerFin Acquires Third Ex-JAL Boeing 777-300ER in 2025 to Boost Global Parts Inventory

On December 16, 2025, UK-based aviation aftermarket specialist AerFin announced the acquisition of a Boeing 777-300ER, marking its third purchase of this aircraft type from Japan Airlines (JAL) this year. The transaction underscores a strategic push to secure high-quality Used Serviceable Material (USM) for the global aftermarket, specifically targeting the airframe and GE90 engine components that remain in high demand.

According to the company’s official statement, this latest acquisition completes a significant year of investment in the widebody segment. The aircraft will be disassembled to harvest components, supporting a strained global supply chain where operators are extending the lives of existing fleets due to delays in new aircraft deliveries.

Strategic Expansion of the 777 Portfolio

AerFin’s acquisition strategy in 2025 has heavily favored the Boeing 777-300ER platform, specifically assets previously operated by Japan Airlines. This consistent sourcing allows AerFin to offer a uniform standard of components to its customer base.

The timeline of these acquisitions highlights an aggressive expansion:

• May 2025: AerFin completed the teardown of its first ex-JAL B777-300ER of the year.
• September 2025: The company took delivery of a second unit, designating it for disassembly in the United States to support Americas and Asia-Pacific markets.
• December 2025: The third acquisition was finalized, securing a steady pipeline of GE90-115B engine material and airframe parts heading into 2026.

Auvinash Narayen, Chief Investment Officer at AerFin, emphasized the company’s commitment to this specific asset class in the press release:

“Purchasing another 777-300ER to our portfolio reflects our continued confidence in the asset and the operators who rely on it. Our global footprint and material stock provide the resilience our customers need to plan ahead with certainty.”

, Auvinash Narayen, CIO, AerFin

Market Context: The Demand for USM

The decision to acquire and tear down these aircraft is driven by specific anomalies in the current aviation market. Industry analysis indicates that delays in the certification and delivery of the Boeing 777X have forced major international carriers to extend the operational service lives of their existing 777-300ER fleets.

Supply Chain Constraints

As these older aircraft fly longer than originally planned, they require heavier maintenance and more frequent component replacements. Simultaneously, the production of new spare parts has faced global bottlenecks. Companies like AerFin bridge this gap by harvesting “Used Serviceable Material” (USM), certified parts removed from retired aircraft, which offers a faster and often more cost-effective solution than waiting for new OEM components.

Rising Asset Values

Securing these assets has become increasingly competitive. According to market intelligence from IBA and other industry observers referenced in sector reports, the market value for B777-300ERs and their engines has risen significantly throughout 2025. Some data suggests a jump of nearly 78% in half-life market values compared to previous years. AerFin’s ability to close three such deals in a single year suggests strong capital backing and effective relationship management with top-tier operators like JAL.

AirPro News Analysis

Why Japan Airlines?
From an editorial perspective, we note that AerFin’s specific focus on ex-Japan Airlines inventory is likely a calculated quality control measure. JAL is renowned in the industry for rigorous maintenance standards. Components harvested from their retired fleets typically command a premium in the aftermarket because they are less likely to suffer from unusual wear or deferred maintenance issues compared to assets from less regulated operators.

The “Hat-Trick” Strategy
By securing three identical airframes from the same operator, AerFin achieves economies of scale in its teardown operations. It also allows them to offer “matched” sets of components to airlines, which simplifies integration for maintenance, repair, and overhaul (MRO) providers. This move positions AerFin not just as a parts trader, but as a critical infrastructure partner for airlines struggling to keep their long-haul fleets airborne amid OEMs delays.

Frequently Asked Questions

What is USM in aviation?
USM stands for Used Serviceable Material. It refers to aircraft parts that have been removed from a retired airframe or engine, inspected, repaired if necessary, and recertified for use on an active aircraft.

Why is the GE90 engine significant?
The Boeing 777-300ER is powered exclusively by the GE90-115B engine. It is one of the most powerful and complex commercial jet engines in service. As the 777 fleet ages, demand for GE90 spare parts (blades, disks, and accessories) has surged, making them highly valuable assets for teardown companies.

Where will the aircraft be disassembled?
While the specific location for the December acquisition was not detailed in the immediate release, previous units acquired by AerFin in 2025 were disassembled in the United States (specifically New Mexico) to facilitate distribution across the Americas and Asia-Pacific regions.

Sources

• AerFin Press Release
• Aviation Business News
• IBA Data

AAR to Acquire Aircraft Reconfig Technologies for $35 Million, Boosting Engineering Authority

AAR CORP. (NYSE: AIR), a major provider of aviation services to commercial and government operators, has announced a definitive agreement to acquire Aircraft Reconfig Technologies (ART) from ZIM Aircraft Cabin Solutions. The all-cash transaction is valued at $35 million and is expected to close in the fourth quarter of AAR’s Fiscal Year 2026, subject to customary regulatory approvals.

The Acquisitions represents a strategic move by the Wood Dale, Illinois-based company to vertically integrate its repair and engineering capabilities. By purchasing ART, AAR gains significant in-house authority to design, engineer, and certify aircraft modifications, reducing reliance on external partners for complex cabin retrofits.

Strategic Expansion of Engineering Capabilities

According to the company’s announcement, the deal is designed to be accretive to both margins and earnings. The primary asset in the transaction is ART’s status as an FAA Organization Designation Authorization (ODA) holder. This designation allows the engineering firm to issue Supplemental Type Certificates (STCs) and certify its own designs, a critical bottleneck in the aviation modification industry.

ART, based in Greensboro, North Carolina, employs approximately 100 people and specializes in aircraft interior engineering. The firm was previously a division of HAECO Cabin Solutions before being acquired by ZIM in 2023. For ZIM, the divestiture allows the company to focus on its core business of manufacturing aircraft seats, while AAR absorbs the service-heavy engineering unit to bolster its Maintenance, Repair, and Overhaul (MRO) offerings.

Executive Commentary

AAR executives emphasized that the acquisition is about moving up the value chain to offer proprietary solutions rather than just labor.

“This acquisition will elevate AAR’s engineering and in-house certification services to drive proprietary solutions as part of our broader MRO offering.”

, John M. Holmes, Chairman, President & CEO of AAR

Tom Hoferer, Senior Vice President of Repair & Engineering at AAR, noted that the addition of ART allows the company to capture a larger share of the modification market.

“This acquisition will add incremental engineering capabilities that will further differentiate AAR and enable us to expand our total accessible market.”

, Tom Hoferer, Senior VP of Repair & Engineering, AAR

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AirPro News Analysis: The “MRO Super Cycle”

The timing of this acquisition aligns with broader trends in the global aviation market. The industry is currently experiencing what analysts call an “MRO Super Cycle.” Due to significant Delivery delays of new aircraft from major Manufacturers like Boeing and Airbus, airlines are forced to fly older aircraft longer than anticipated. To keep these aging fleets competitive and comfortable for passengers, carriers are investing heavily in cabin refurbishment and densification projects.

In this constrained environment, speed is a competitive advantage. By acquiring ART and its FAA ODA status, AAR effectively buys the ability to approve its own engineering work. This vertical integration allows the company to offer a “one-stop-shop” for interior retrofits, handling everything from the initial design to the final certification and installation. This capability is particularly valuable when supply chain shortages require MROs to engineer custom repair solutions rather than waiting for OEM parts.

For AAR, this moves the company beyond standard repair work into higher-margin engineering services, allowing them to develop and own the intellectual property for specific modification schemes.

Transaction Details

• Buyer: AAR CORP. (via its subsidiary AAR Aircraft Services, Inc.)
• Target: Aircraft Reconfig Technologies (ART)
• Seller: ZIM Aircraft Cabin Solutions
• Transaction Value: $35 million (all-cash)
• Location: Greensboro, North Carolina

Sources

• PR Newswire / Yahoo Finance

This article is based on an official press release from Billings Flying Service and Quanta Services.

Quanta Services Acquires Heavy-Lift Specialist Billings Flying Service

In a significant move for the utility aviation sector, Quanta Services, Inc. (NYSE: PWR) has acquired Billings Flying Service (BFS), a Montana-based operator renowned for its heavy-lift CH-47 Chinook fleet. According to an official press release issued regarding the transaction, the acquisition was finalized on December 9, 2025. BFS will now operate as part of the Quanta Aviation Services family of businesses.

The deal brings together Quanta’s massive infrastructure capabilities with BFS’s specialized aerial assets. While financial terms were not disclosed in the announcement, the companies confirmed that BFS will retain its brand identity, headquarters in Billings, Montana, and current leadership team. This strategic Acquisitions underscores a growing trend of infrastructure giants securing direct control over critical supply chain assets to support grid modernization and disaster response efforts.

Operational Continuity and Leadership

A primary focus of the announcement was the stability of BFS’s existing operations. The press release confirms that Bridger Blain will remain as President and CEO of Billings Flying Service. Furthermore, the company stated there will be no changes to the current staff or the location of their headquarters. This continuity is intended to preserve the specialized culture and expertise that BFS has cultivated since its founding in 1983.

By joining Quanta Aviation Services, BFS gains access to the resources of a Fortune 500 parent company while continuing to service its existing contracts, including crucial aerial firefighting and government agreements. Bridger Blain emphasized the benefits of this partnership in a statement included in the release:

“This acquisition gives BFS access to greater resources and long-term stability for growth while doing what we love, providing excellent service to our customers. As we integrate into the Quanta Aviation Services family, our leadership, culture, and identity will remain unchanged.”

, Bridger Blain, President & CEO of Billings Flying Service

Strategic Expansion of Heavy-Lift Capabilities

The integration of BFS into Quanta Aviation Services significantly expands Quanta’s internal aviation capabilities. BFS is widely recognized for its operation of the Boeing CH-47 Chinook, a heavy-lift Helicopters capable of transporting massive infrastructure components, such as transmission towers, in a single load. The company also operates UH-60A Black Hawks and Bell 206Ls, providing a versatile fleet for various utility applications.

Justin Gunsauls, President of Quanta Aviation Services, highlighted the reputation BFS has built in the industry. In the press release, Gunsauls noted that the addition of BFS positions the wider organization to better meet evolving industry demands:

“Billings has built an exceptional reputation in heavy-lift and aerial firefighting… Together, we are positioning QAS to meet the demands of a rapidly evolving industry and to set a new standard of excellence in utility aviation.”

, Justin Gunsauls, President of Quanta Aviation Services

AirPro News Analysis: The “Hidden Air Force” Strategy

At AirPro News, we view this acquisition as a decisive step in Quanta Services’ strategy to vertically integrate its Supply-Chain. As the United States pushes for extensive grid modernization and the construction of new high-voltage transmission lines, often in remote, mountainous terrain, access to heavy-lift aviation assets is becoming a bottleneck for construction schedules.

By acquiring BFS, Quanta effectively insulates its projects from the volatility of the external charter market. Rather than relying on third-party vendors for critical lifts, Quanta is building what industry observers might call a “hidden air force”, a massive, internal fleet of specialized aircraft dedicated to self-performing complex construction tasks. The CH-47 Chinook is a rare asset in the civilian market; owning a fleet of them provides Quanta with a logistical advantage that few competitors can match.

Furthermore, the dual-use nature of BFS’s fleet, capable of both construction and aerial firefighting, adds a layer of recession resistance to the asset. As wildfire seasons lengthen and intensify, the demand for private aerial firefighting capabilities remains at historic highs, ensuring high utilization rates for these airframes even when construction demand fluctuates.

Fleet and MRO Capabilities

Beyond the aircraft themselves, the acquisition includes BFS’s robust maintenance infrastructure. According to the company’s profile, BFS operates an FAA Part 145, AS9110, and Boeing-certified Maintenance, Repair, and Overhaul (MRO) facility. This capability allows BFS to service its own fleet as well as third-party aircraft.

For Quanta, acquiring this MRO capacity is just as critical as acquiring the helicopters. It ensures high fleet availability and reduces downtime for maintenance, a key factor in maintaining the tight schedules required for large-scale utility projects.

Frequently Asked Questions

Will Billings Flying Service change its name?

No. According to the press release, BFS will continue to operate under its existing name and brand identity.

Is the leadership team changing?

No. Bridger Blain remains President and CEO, and the current management team stays in place.

What aircraft does BFS operate?

BFS specializes in the CH-47 Chinook but also operates UH-60A Black Hawks and Bell 206Ls.

Who is the acquiring company?

Quanta Services, Inc. (NYSE: PWR), specifically through its subsidiary Quanta Aviation Services.

Sources

• Vertical Mag (Press Release)
• Quanta Services
• Billings Flying Service