U.S. Markets close in 3 hrs 11 mins

Behind the deal: Why Triumph put its SA aviation business up for sale

Kristen Mosbrucker
Behind the deal: Why Triumph put its SA aviation business up for sale

Triumph Group Inc., a Pennsylvania-based aerospace support business, had been reporting net losses for a while when it decided to sell its noncore divisions to regain profitability. Among those was its aviation services division in San Antonio, which works on commercial aircraft fuel systems and was sold to Florida-based STS Aviation Group Inc. for an undisclosed price. While the local division generated about $30 million in revenue for Triumph (NYSE: TGI) in fiscal 2018, which ended in March 2018, the company overall reported a net loss of $30.9 million during fourth calendar quarter 2018.