American Airlines uses COVID-19 disruption to retire vintage 737s and other jets

American Airlines Boeing 757-200 ©AirTeamImages

Having announced two weeks ago that it was to retire 34 Boeing 757s and 17 Boeing 767s, American Airlines has announced that with the dramatic downturn in world travel, it will now be retiring 76 Boeing 737s that the carrier acquired between 1999 and 2001. In addition, it will also be retiring nine Airbus and 20 Embraer E190s according to Reuters news agency. There is also the distinct possibility that a number of its 50-seat regional jets will also be retired. American Airlines sees this as an opportune moment to retire an additional number of jets with a view to Read more

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MTU Aero Engines AG withdraws guidance 2020

The executive board of MTU Aero Engines AG resolved to withdraw the guidance for the financial year 2020. The company’s decision is based on the assessment of market scenarios presently deemed likely, and on a catalogue of expenditure reduction measures. The previous guidance was published on February 20, 2020, already with the reservation to review it during the year due to the COVID-19 pandemic. Especially due to significant reductions in passenger air traffic and the consequences for airlines, revenues and adjusted EBIT for the financial year 2020 are expected not to grow with a high single digit percentage as forecast. Read more

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Acro Aircraft Seating appoints new CEO

Neil Cairns

Acro Aircraft Seating has appointed Neil Cairns as the company’s Chief Executive Officer effective from March 9, 2020. Cairns brings with him many years’ aerospace seating experience, covering products in all seating classes. He has a wide-ranging track record of lean process improvement and performance improvement, most recently holding positions as the Vice President and General Manager at Collins Aerospace based in Tucson, Arizona and Winston Salem, North Carolina based in the U.S.A. and previously running the B/E Aerospace seating facility in Kilkeel, Northern Ireland.

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DAE ends first-quarter 2020 with available liquidity of US$2.8 billion

Dubai Aerospace Enterprise (DAE) has ended the first-quarter 2020 with available liquidity of approximately US$2.8 billion. DAE’s owned, managed and mandated-to-manage fleet exceeded 400 aircraft. During the first quarter, DAE sold or novated 15 aircraft, acquired four aircraft and transitioned or extended leases on eight aircraft. Firoz Tarapore, DAE’s CEO said, “In these unprecedented times, DAE has positioned itself to operate calmly and to balance the needs of all our important constituents – employees, customers, bondholders and banks, and shareholders.

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TUI Group receives KfW bridging loan of €1.8 billion

TUIfly ©AirTeamImages

TUI AG has received the approval of the German government for a bridging loan of €1.8 billion from the KfW. The funds from Germany’s state-owned development bank are to be used to increase TUI’s existing credit line with its banks amounting to €1.75 billion (Revolving Credit Facility). The KfW bridging loan is subject to the approval of the banks. Talks on this have already started and will be continued. One of the conditions of the KfW bridging loan is that TUI waives dividend payments for the duration of the bridge loan. This would give TUI access to financial resources and Read more

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AEI receives Transport Canada approval for B737-300/-400SF conversions

Transport Canada Civil Aviation has approved Aeronautical Engineers’ (AEI) STC (ST01827LA) for the 11-pallet position B737-400SF freighter conversion and the 10-pallet position B737-300SF freighter conversions. Foreseeing an uptick in demand for the B737 Classic freighter programs, AEI initialized the approval process with Transport Canada in the fourth quarter of 2019. In addition to FAA, EASA, and now Transport Canada approvals, AEI’s B737-400SF and B737-300SF freighter conversions are also approved in Russia, Brazil, India, Australia, and China. The AEI converted 11-pallet position B737-400SF freighter offers a main deck payload of up to 47,100 lbs. (21,364 kg), while the 10-pallet position B737-300SF Read more

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Avia Solutions Group finalizes acquisition of Bluebird Nordic

Steinn Logi Björnsson Managing Director of Bluebird Noridc

On January 24, 2020, Avia Solutions Group signed an agreement with BB Holding EHF for the full acquisition of Bluebird Nordic, which entails a 100% stake ownership of the company’s shareholdings. On March, 31, 2020, following the completion of all prerequisites and receipt of relevant clearances from competition authorities, the transaction was finalized. Bluebird Nordic uses a fleet of six aircraft and operates scheduled as well as charter flights under its brand. The airline also offers cargo export and import services from and to Iceland, serving more than 100 locations worldwide. “We are happy that Bluebird is now a member Read more

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Boeing receives US$1.5 billion P-8A Poseidon contract

©Boeing has received a US$1.5 billion production contract for 18 P-8A Poseidon aircraft

The U.S. Navy has awarded Boeing a US$1.5 billion production contract for the next 18 P-8A Poseidon aircraft. The contract includes eight aircraft for the U.S. Navy, six aircraft for the Republic of Korea Navy and four aircraft for the Royal New Zealand Air Force. The Republic of Korea Navy and Royal New Zealand Air Force acquired the aircraft through the Foreign Military Sales process and will receive the same P-8A Poseidon variant designed and produced for the U.S. Navy. The Royal New Zealand Air Force is expected to begin receiving aircraft in 2022 and the Republic of Korea Navy Read more

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AeroCentury reports fourth- quarter 2019 and fiscal year 2019 results

AeroCentury, an independent aircraft leasing company, has reported a fourth-quarter 2019 net loss of US$7.0 million, compared to a net loss of US$3.8 million for the fourth quarter of 2018.  Net loss for the year ended December 31, 2019 was US$16.7 million, as compared to a net loss of US$8.1 million in 2018.  The results for the fourth quarter of 2018 and subsequent periods reflect the combined operations of AeroCentury and its subsidiary, JetFleet Holding, which was acquired by the company on October 1, 2018.The termination of the leases for, and repossession of, four aircraft from one of the company’s Read more

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Virgin Atlantic and easyJet cabin staff to work in U.K. Nightingale COVID-19 hospitals

On the day that easyJet announced it has grounded all its aircraft, the U.K. government has announced that it will be inviting furloughed staff from both Virgin Atlantic and easyJet to take up non-clinical positions in five National Health Service (NHS) “field” or “Nightingale Hospitals” to be located throughout the U.K. including London, Manchester, Birmingham, Glasgow and Cardiff. The NHS Nightingale Hospitals are named in memory of Florence Nightingale, one of the very first female nurses who worked tirelessly among wounded soldiers in field hospitals during the Crimea War of 1853-1856 and who is seen as the founder of modern Read more

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