MD Helicopters, Inc. (“MD” or “the Company”) announces that it has entered into an asset purchase agreement with a creditor consortium led by Bardin Hill and MBIA Insurance Corporation (the “Creditor Consortium”). The Creditor Consortium will acquire nearly all of the Company’s assets and provide new capital to strengthen MD’s financial position and support the Company’s continued ability to manufacture and service its high-performance helicopters. The Company expects to continue its regular course of operations throughout the sale process and remains focused on serving its civil and military customers and working with suppliers as normal.

Bell Textron Inc., a Textron Inc. (NYSE: TXT) company, announces the delivery of the Bell 505 to Omaha Police Department (OPD). Bell completed the delivery to OPD in February, and the aircraft is now in operation by the Air Support Unit.

The U.S. Department of Transportation’s Federal Aviation Administration names Billy Nolen to serve as acting FAA Administrator after FAA Administrator Steve Dickson departs at the end of March. Deputy Administrator Bradley Mims will also take on an expanded role during this interim period, focusing on the FAA’s workforce and the nation’s airports.

Precision Aviation Group, Inc. (PAG), a provider of products and value-added services to the worldwide aerospace and defense industries, is recognized by MD Helicopters with its “Excellence Award" during the manufacturer's authorized service center briefing event on March 8. The 2022 Excellence Award represents PAG’s commitment and approach to serving its global “mission-critical” customer base in addition to strong revenue growth YOY.

Helicopter Association International announces a successful HAI HELI-EXPO 2022, which welcomed 13,083 helicopter professionals from 72 countries. From the largest manufacturers to the small businesses that are the backbone of the industry, each company shared its products and services with eager buyers.

Precision Aviation Group, Inc. (PAG), a provider of products and value-added services to the worldwide aerospace and defense industries, announces that Keystone Turbine Services (KTS) was recognized by Rolls-Royce during its annual FIRST (Fully Integrated Rolls-Royce Support Team) Network event with the 2022 "BEST IN CLASS" award, representing the company that stands out above their peers.

Helicopter Association International (HAI) reaffirms its opposition to the recommendations contained in the FAA Beyond Visual Line of Sight (BVLOS) Aviation Rulemaking Committee (ARC) Final Report. The report, submitted to the FAA on March 10 and now posted on the FAA website, proposes several recommendations to the agency that, if implemented, will compromise flight safety for low-altitude National Airspace System (NAS) operators.

Columbia Helicopters and Brightwater United Aero Group (UAG) enter into a memorandum of understanding to work cooperatively on a supply chain agreement supporting the GE CT58 engine and the Sikorsky S-61 platform in its entirety.

Snap-on Industrial introduces the new Intrinsically Safe ControlTech™ Wireless Electronic Torque Wrenches. A wholly new design in torque tools, the Snap-on Intrinsically Safe ControlTech™ Torque Wrenches are engineered and tested for operation in Class 1 Division 2 hazardous environments where flammable gases, vapors or liquids may potentially be present.

Helicopter Association International (HAI) is deeply saddened to learn of the passing of Alaska Representative, Don Young, and joins his family and the people of Alaska in mourning his loss.