BBA Aviation lifts off after disposal goes through

Aviation support services provider BBA Aviation (LON:BBA) has seen its share price rise by 1.91% to 309.40p (as of 14:40 GMT) after it completed the disposal of Ontic. Effective proceeds from the transaction will be $1,321 million.

As a consequence, the company will return capital to shareholders via a special dividend of 80.71 cents per ordinary share. Management also said that they were planning to change the name of the company to Signature Aviation to reflect the core driver of shareholder value generation in the future.