TXT Acquires Majority Stake in Flight Simulation Software Provider ProSim Training Solutions

  • TXT e-solutions S.p.A. (“TXT”) announces a further investment in ProSim Training Solutions (ProSim-TS) through the exercise of the option to purchase 20% of the company’s capital, as a result of which TXT holds a majority stake of 60%;
  • ProSim-TS is recognized as an emerging tech entity in the Aerospace & Defence training market thanks to a high business growth rate that has led to over 300 simulator installations worldwide based on innovative technologies;
  • ProSim-TS’s innovative tools are synergistically integrated into the proprietary solutions portfolio of the PACE Group, fostering the international growth of TXT’s Smart Solutions division;
  • For 2024, ProSim-TS’s revenue is expected to exceed EUR 3.5 million, growing by over 30% compared to 2023, generated from the sale of proprietary software, with expected profitability of 15% despite significant investments in product portfolio innovation exceeding EUR 1.5 million, which will be fully expensed in the year;
  • For the 2025-2026 biennium, ProSim-TS’s industrial plan anticipates sustained business growth driven by synergies within the PACE Group and the commercialization of new proprietary solutions, with expected revenue CAGR exceeding 30%;
  • Following the option exercised by TXT today, the investment agreement includes further Put/Call options expiring upon approval of the financial statements closing on Decem ber 31, 2025, under which TXT will acquire the remaining 40% of ProSim-TS, with additional earn-outs for the selling shareholders.

TXT e-solutions S.p.A. (“TXT”), a company listed on the STAR Segment of the Electronic Stock Market organized and managed by Borsa Italiana S.p.A., announces that on July 8, 2024, it exercised the option to purchase an additional 20% of the capital of ProSim Train ing Solutions (ProSim-TS), as a result of which TXT holds a majority stake in ProSim-TS amounting to 60% of its capital. TXT will consolidate the results of ProSim-TS starting from July 1, 2024.

Hanne Koole, CEO and shareholder of ProSim-TS commented “we have further strength ened our cooperation with our colleagues from TXT by them acquiring a second tranche of shares into ProSim. Over the past two years, they have significantly contributed to our growth both on the business side as well as technical capability, looking forward to con tinuing value creation and strengthen our positioning as leader in the Aerospace & Defence market”.

An important step in our international growth plan that leads to the consolidation of our Smart Solutions portfolio” commented Daniele Misani, CEO of TXT Group, “We are creating an excellent team and a unique offering to increase our global presence in a market that has always been strategic for TXT”.

TXT is an international IT Group, end-to-end provider of consultancy, software services and solutions, supporting the digital trans formation of customers’ products and core processes. With a proprietary software portfolio and deep expertise in vertical domains, TXT operates across different markets, with a growing footprint in Aerospace, Aviation, Defense, Industrial, Government and Fintech. TXT is headquartered in Milan and has subsidiaries in Italy, Germany, the United Kingdom, France, Switzerland, Canada, Singapore and the United States of America. The holding company TXT e-solutions S.p.A, has been listed on the Italian Stock Exchange, STAR segment (TXT.MI), since July 2000.

Source: TXT Group

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Indian Airport Development Company Signs Agreement with Flag Carrier to Establish India’s Largest Flight Training Organisation

Amravati, India – MADC (Maharashtra Airport Development Company) and India’s flag carrier Air India proudly announce an agreement to establish the largest Flying Training Organization (FTO) in South Asia at Amravati Airport, Maharashtra. This pioneering initiative marks the first FTO established by any airline in India.

  • Project timeline: Flight training operations are set to begin by April-May 2025, with full functionality expected by mid-2026.
  • Pilot training capacity: The DGCA-licensed FTO will aim to train 180 commercial pilots annually, utilizing 31 single-engine and three twin-engine aircraft, totaling over 36,000 flight hours each year.
  • Economic Impact: The project is anticipated to boost the economic prospects of the Vidarbha region, creating over 3,000 jobs in the aviation sector and allied industries.

Key features of the location:

  1. Superior visibility: Amravati offers more than 300 days of clear visibility for flight training, surpassing many other regions in India.
  2. Optimal airspace: The location provides optimal airspace for training activities.
  3. World-class runway: Constructed by MADC, the runway meets international standards.
  4. Instrument approach landing: The airport is equipped with instrument approach landing capabilities, enhancing training quality.
  5. Night landing capabilities: These features make Amravati’s aviation infrastructure one of the best for aspiring pilots.
  6. UDAN-RCS Scheme: Amravati Airport is included in the UDAN-RCS scheme, with plans for an Alliance Air (regional operator) route connecting Amravati to Mumbai, further boosting regional connectivity.


  • “This DGCA-licensed FTO, the first of its kind established by an airline in India, represents a significant step towards addressing the pilot shortage in the Indian aviation industry,” said an Air India spokesperson.
  • “The project is expected to generate over 3,000 jobs and significantly contribute to the economic development of the Vidarbha region,” noted a representative from MADC.

About MADC

Maharashtra Airport Development Company (MADC) is dedicated to the development and management of aviation infrastructure in Maharashtra, fostering economic growth and connectivity in the region.

Source: MADC

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General Manager of New Simaero FFS Training Center Highlights Plan by Group to Invest $100 Million in India

During the Aviation India Summit and Exhibition 2024, Khushbeg Jattana – General Manager of Simaero India, a new full flight simulator (FFS) training center by global operator of FFS training center’s shared the group’s plan to invest $100 million into expanding India’s pilot training infrastructure.

Honored to be part of a power-packed panel discussing a critical topic: How the Indian pilot training infrastructure is supporting the growth of airlines. The session brought together experienced minds:

  • Bobby Sharma, CEO of Chimes Aviation Academy
  • Ryan Van Wijk, CEO of Alt Academy
  • Romy Hawatt, Chairman of Airways Aviation

With aircraft orders reaching a record 1600, the number of pilots to be granted licenses will soon touch approximately 2000 per year. This highlights the urgent need for India to ramp up its pilot training infrastructure. I’m thrilled to share that Simaero is stepping up to meet this challenge by setting up a state-of-the-art simulator facility near Delhi Airport with an initial investment of $100 million.

A big thank you to Maximilian Buerger for moderating such a brilliant discussion and highlighting the key points for the growth of our pilot training infrastructure.” shared Khushbeg Jattana, General Manager of Simaero India

Simaero India is currently constructing an 8 bay full flight simulator training center in New Delhi which is set to open in 2024.

Source: Simaero India

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World’s Largest ACMI Provider and Aviation Conglomerate Avia Solutions Group Issues $300 Million Worth of New Bonds

Avia Solutions Group, the world’s largest ACMI provider (Aircraft, Crew, Maintenance, and Insurance) services and owner of global pilot training group BAA Training, announced that it has has successfully issued $300 million in senior unsecured bonds with a tenure of 5 years at a rate of 9.75%. This issuance includes the refinancing of a previous bond issue that had an outstanding balance of $180 million. The surplus funds will be allocated towards the Group’s strategic business development initiatives. Citibank and Morgan Stanley served as joint bookrunners for the transaction.

The demand for the bonds strongly exceeded the supply by almost 2 times. Investors from all over the world invested in the bonds, including some of the largest funds and asset managers from the US, Europe, and Asia.

The successful bond issue is clear proof of investor confidence in the Group and its growth potential. We will use the funds raised to further expand our aviation group globally and continue to invest in our fleet capacity, thus strengthening our leading position in the market,” says Jonas Janukenas, CEO of Avia Solutions Group.

Avia Solutions Group is the world’s largest ACMI (Aircraft, Crew, Maintenance, and Insurance) services group operating a fleet of 212 aircraft. In 2023, the Group’s net profit grew by 5.5 times to €68.2 million, adjusted EBITDA by 36% to €392 million, and revenue by 22% to €2.3 billion.

The Group is a parent company to over 100 subsidiaries providing a range of aviation services including MRO (Maintenance, Repair, and Overhaul), pilot and crew training, and ground handling, among others. Avia Solutions Group is supported by 12,000 highly skilled aviation professionals.

Source: Avia Solutions Group

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