Total deal value in this sector in 2015 reached $61.7 billion,
more than 50% higher than the previous highest year in 2007. The
most recent report by PwC for Q1 2016 indicates that deal
volume is down slightly as compared to Q4 2015, but deal value is
A key issue for the aerospace and aviation industries going
forward involves technological change in the Maintenance, Repair
and Overhaul (MRO) segment. PwC reports that the future of "digital
aviation" is on the horizon, which will present opportunities
for revenue growth in the $60 billion MRO market. Aviation Week similarly reports that
investment in civil aviation MRO is up, and deal activity is
expected to increase in 2016 as a result.
The increase in aerospace M&A is good news for Canada, where
the aerospace industry employs more than 180,000 Canadians
according to a 2015 report by the Aerospace Industries Association
of Canada. MRO activity in particular represents 27% of the
Canadian aviation industry, and grew 37% between 2004 and 2014.
Projected M&A activity in this sector may provide an updraft to
The author would like to thank Jacqueline Byers, articling
student, for her assistance preparing this legal update.
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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