Israir Group has signed a deal to buy 50% stake in Larnaca-based maintenance, repair and overhaul (MRO) company Bird Aviation, the company announced in a stock filing. The group will pay $3.2 million in cash for the purchase and provide a loan of $5.5 million to Bird Aviation in owner financing. Former owner, Bird AeroSystems will retain a 50% stake in the MRO facility. Israir said it anticipates that the acquisition will give it “an advantage in terms of operational flexibility, will advance the company’s growth strategy in connection with its ambition to increase the fleet, and strengthen its maintenance

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