Wednesday, October 19, 2011
AviTrader Daily Aviation News Alert
This is an overview of all articles linked within the selected daily newsletter.
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August 26, 2016 · 633 Views
It has been reported from Geneva that the International Transport Association (IATA) and Egypt’s authorities are attempting to find a solution for the repatriation of funds owed to airlines operating in Egypt.
The current value of blocked funds stands at US$275 million. To date ongoing discussions between airlines, the Central Bank of Egypt and Egypt’s Civil Aviation Authority has seen US$240 million released while discussions continue regarding an appropriate time schedule for further payments to be made.
Air connectivity is crucial to the Egyptian economy as aviation supports the employment of over 1 million people and produces US$13.1 billion in social and economic benefits. It is imperative from the aspect of both businesses and tourism that IATA, the airlines and the Egyptian government create a solution to the current problem that will comply with international obligations.
Egypt has struggled against the country’s foreign exchange black market since the January 2011 uprising and from December 2012 the central bank had been controlling the official exchange rate through frequent foreign currency auctions. However, in March 2015 further restrictions were placed on the level of dollar deposits allowed in Egyptian banks in a move to fully eradicate the disruptive influence of the black market. The consequence of this though has been a shortage of dollars, and hence the underlying reason behind blocked funds.
Egypt imports most of its basic commodities and relies heavily on income generated by the Suez Canal and tourism. At the end of December 2014 foreign exchange reserves stood at US$15.3 billion. In June this year it was announced that these reserves had risen to US$17.5 billion, but figures released for July show this figure had fallen dramatically to US$15.54 billion.
October 17, 2011 · 7 Views
Doric Asset Finance reportec the addition of a 10th Airbus A380 aircraft to its aircraft portfolio under management. Doric Nimrod Air Two Limited (“DNA2”) took delivery of MSN 077 at the Airbus delivery centre in Hamburg. The aircraft is leased to Emirates for a period of 12 years. The Airbus A380 was purchased for US$ 234 million, of which about US$ 151 million was financed through a 12-year fully amortising senior loan. DNA2 was listed on 14th July 2011 on both the London Stock Exchange (“LSE”) and the Channel Island Stock Exchange (“CISX”). The company’s sole objective is to own and lease three Airbus A380 aircraft to Emirates.
October 17, 2011 · 118 Views
Brussels Airlines and Lufthansa Technik Malta have signed a base maintenance contract for the Airbus A330 fleet of the carrier. Lufthansa Technik Malta will provide C-Checks for the five A330s of Brussels Airlines starting from now on. Additionally Lufthansa Technik Malta has been selected to do a full cabin retrofit of the aircraft starting in February 2012.
October 17, 2011 · 67 Views
CPI Aerostructures has received a schedule agreement from Sikorsky Aircraft valued at up to approximately $2.3 million to manufacture gunner window assemblies for the BLACK HAWK helicopter. This new agreement is a follow-on to the $2 million agreement announced in late 2010. The windows are of two-piece construction located just behind the pilot seat on each side of the aircraft. They slide open for use by the machine gun operator. Deliveries are expected to commence in the first half of 2012 and end in early 2013.
October 17, 2011 · 67 Views
Virgin Australia launched commercial services with the first of its new ATR 72-500 turboprop airliners. The inaugural flight of Virgin Australia’s first turboprop – and Australia’s first ATR 72 – was also the airline’s first flight from Brisbane to the regional industrial city of Gladstone. Perth-based Skywest will operate the new ATR services on behalf of Virgin Australia, with a fleet of eight 68-seat ATR 72 aircraft. The airline has orders for four of the series 500 model – three of which have now been delivered – and four of the next-generation series 600 model. Skywest also has options to acquire another five ATR 72-600s, all of which it will operate for Virgin.
October 17, 2011 · 62 Views
October 17, 2011 · 134 Views
Messier-Bugatti-Dowty was chosen once again by Airbus to supply the nose and main landing gear for the A320 family, including the A320neo family. The European aircraft manufacturer currently accounts for 60% of Messier-Bugatti-Dowty’s landing gear activity as it supplies landing gear to the entire Airbus single aisle program as well as A330, A340 and A380 nose landing gears and A350-800/900 main landing gears.
October 17, 2011 · 69 Views
Simon Caldecott has been appointed the new interim President and CEO of Piper Aircraft, Inc., effective immediately. Caldecott joined Piper in 2009 and is the former Vice President of Operations responsible for Manufacturing Operations, Manufacturing Engineering, Quality and Supply Chain. Caldecott replaces Geoff Berger, who joined as the previous interim CEO in mid-2010. Former Executive Vice President Randy Groom has left the company.
October 18, 2011 · 59 Views
TAP Maintenance and Engineering Brazil (TAP M&E Brazil) was certified by the Diretoria de Material Aeronáutico e Bélico – DIRMAB, the head of the Brazilian Air Force Logistics System, to perform periodical inspections on the Brazilian Air Force (FAB) F-5E/FM aircraft. The FAB is using this aircraft since 1974, and due to its quality and advanced performance platform, the Brazilian fleet was recently modernized in avionics and weapons systems, receiving the most up-to-date embedded technology.
October 18, 2011 · 9 Views
Ramco Systems, the Global Aviation Maintenance & Engineering (M&E) and Maintenance, Repair & Overhaul (MRO) software provider, announced its agreement with T’way Airlines for Ramco’s Series 5 Aviation M&E software. Under the agreement, Ramco will deliver the complete web based Series 5 M&E system, including Maintenance Programs, Supply Chain Management, Maintenance Execution for Line, Shop and Heavy operations and Reliability.
T’way Airlines is the first official low-cost start up airline based in Seoul, South Korea, offering scheduled flights between Seoul Gimpo Airport and Jeju International Airport, operating an all Boeing 737-800 fleet. The airline was established in 2004 as Hansung Airlines and was renamed T’way Airlines in August 2010.
October 18, 2011 · 71 Views
Air Lease Corporation reported continuing lease placements and acquisitions of 12 additional aircraft.
ALC has concluded the following lease placements from its order book:
– one new Airbus A330-300 leased to Asiana Airlines (Korea).
– two new Boeing 737-800s (MSNs 41299 and 41300) leased to Korean Airlines
– two new Embraer 190 LRs leased to Aeromexico.
– One Boeing 737-800 (MSN 37772) leased to Air Berlin
ALC has additionally acquired the following aircraft:
– two Airbus A320-200s (MSNs 4681 and 3203) leased to Vueling (Spain)
– one Airbus A330-200 (MSN 1016) leased to Avianca (Colombia)
– one Airbus A330-200 (MSN 456) leased to Thomas Cook (United Kingdom)
– one Boeing 737-800 (MSN 33027) leased to Gol Airlines (Brazil)
– one Boeing 737-700 (MSN 30279) leased to Southwest Airlines
October 18, 2011 · 64 Views
Pierre-Henri Gourgeon has resigned from his duties as Chief Executive Officer of Air France and Air France-KLM. Alexandre de Juniac has been appointed as his successor. The appointment will be subject to the approval of the Board of Directors of Air France and will become effective after the opinion of the ethics committee.
October 18, 2011 · 11 Views
Airbus has completed installation of the first Rolls-Royce Trent XWB flight-test engine on the A380 “flying-testbed” aircraft (MSN 001). The aircraft and engine will now be prepared for the flight-test campaign commencing in the coming weeks. The Trent XWB engine, which is the largest Rolls-Royce turbofan with a 118-inch diameter fan, has been specially designed to power all members of the new Airbus A350 XWB Family with maximum efficiency.
October 18, 2011 · 100 Views
The CIRCOR Aerospace Products Group has been selected by Messier-Bugatti-Dowty (Safran Group) to manufacture a complete suite of 20 actuators for multiple business and regional aircraft platforms. CIRCOR Aerospace will perform the manufacturing, final assembly and testing of these actuators at its Corona, California facilities. CIRCOR Aerospace was previously awarded several design and development and legacy program contracts for landing gear actuators by Messier-Bugatti-Dowty.
October 18, 2011 · 85 Views
Peter Somers will succeed Roland van Dijk, with effect from 1 November 2011, as President Fokker Services and will form part of the Executive Board. Peter Somers is a senior airline executive with a proven track record at Air France-KLM, who together with his management team, will lead Fokker Services further with the aim of achieving success and profitability of the defined key growth areas. Roland van Dijk will be appointed with effect from 1 November 2011 as Vice President Strategy & Solutions of Fokker Technologies.
October 18, 2011 · 81 Views
FLY Leasing completed the acquisition of a $1.4 billion portfolio of 49 aircraft. These 49 aircraft increase FLY’s fleet to a total of 109 aircraft on lease to 53 airlines in 29 countries. The purchase price was fully funded from FLY’s existing unrestricted cash and the assumption of existing non-recourse debt. The portfolio consists of 23 Airbus A320 family aircraft, 3 Airbus A340, 6 Boeing 717 and 17 Boeing 737 aircraft.