Tuesday, July 26, 2011

AviTrader Daily Aviation News Alert

This is an overview of all articles linked within the selected daily newsletter.
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Portuguese government hones in on two bids for its national airline TAP

May 22, 2015 · 122 Views

For an airline which became very profitable during the first decade of the new millennium it is a massive turnaround seeing it now being sold at a time when it is carrying debt in excess of €1bn. The airline now has to be sold in order to continue operating as European regulations will not allow any additional state aid from the government. In truth it is hoped that future investors will actually rid the state of any debt relating to the airline. An attempt to offload the airline was unsuccessful in 2012, while continued attempts to sell the airline have led to considerable unrest among the airline’s staff. At the beginning of this month the airline was subject to a 10-day strike by pilots which further increased the airline’s financial woes. The strike was about the state remaining a shareholder in order to guarantee that there would be no mass layoffs when a major stake was sold off.
As a result the government are going to retain a 34% share of the airline for at least the next two years and are aiming to sell off 61% in the immediate future, though no actual deadline has been set. Portugal’s Transport Secretary, Sergio Monteiro, has confirmed that bids by two consortia are being considered, one being Gateway, which comprises a holding company of American-Brazilian investor David Neeleman and Portuguese bus company owner Humberto Pedrosa. Neeleman is the founder of US airline JetBlue and also is the Chief Executive of Azul Brazilian Airlines. The second bidder is SAGEF, led by Brazilian-Colombian investor German Efromovich, who controls Latin America’s airline Avianca through Synergy, his holding company. Efromovich was the unsuccessful bidder back in 2012 where his offer was rejected owing to a lack of financial guarantees. Monteiro also revealed to a news briefing that a third bid from a holding company of Portuguese investor and aristocrat Miguel Pais de Amaral has been rejected as the bid he had presented was considered not to be a binding one.
TAP was originally launched in 1945 under the name Secção de Transportes Aéreos. According to their website “..the first commercial Lisbon-Madrid service began on 19 September 1946, while on 31 December the “Imperial Airline” was launched, flying between Lisbon, Luanda and Lourenço Marques, a return journey of 24,540 kilometres that took a total of 15 days and included 12 stopovers. Other routes launched before the end of the 1940s included: Paris (1948), London (1949) and Seville (1948).” Currently TAP operates a fleet of 61 Airbus planes providing 2,500 flights to and from 82 destinations in 35 countries. In addition it operates a mix of 16 other Fokker, Embraer and ATR aircraft through its regional airline PGA (Portugalia Airlines).

DVB finances a portfolio of five widebody aircraft for Guggenheim Aviation Partners

July 25, 2011 · 23 Views

DVB Bank reported the successful closing of two separate finance facilities with Guggenheim Aviation Partners (Guggenheim) for two A330-200 aircraft on lease to Jet Airways (India) and three B777-200ER aircraft on lease to American Airlines.
The finance facility for the two A330-200 aircraft on lease to Jet Airways closed in late March. Both aircraft were delivered new to Jet Airways in 2008 and were subject to a sale/leaseback with Guggenheim’s managed fund. The finance facility for three B777-200ER aircraft on lease to American Airlines closed in early June. The aircraft were originally delivered to American from 2000 to 2002 and were also subject to a sale/leaseback earlier this year with the Guggenheim fund. DVB Bank provided a back leveraging of this acquisition by the Guggenheim fund.

Avio presents new logo

July 25, 2011 · 22 Views

Avio looks to the future and, as a tangible sign of its thrust for innovation, adopts a new logo. The Group, a leader in propulsion systems, is involved in increasingly challenging industrial projects, such as the next generation aeroengines, expansion in the Chinese market and the Vega satellite launcher, to mention but a few. The new logo chosen for the renewal of its identity reflects the Company’s strong forward-looking attitude while providing a link to its extraordinary past.

B/E Aerospace second quarter 2011 results exceed expectations

July 25, 2011 · 22 Views

B/E Aerospace reported that second quarter 2011 revenues of $608.9 million increased $125.0 million as compared with the same period of the prior year. Second quarter 2011 results reflect the acquisitions of TSI Group, Satair A/S’s aerospace fastener distribution business and LaSalle Lighting (recent acquisitions). Revenue growth for the second quarter of 2011, excluding recent acquisitions from both periods, was approximately 12.8%. Second quarter 2011 operating earnings of $106.7 million increased 35.4% on the aforementioned 25.8% increase in revenues. Operating margin was 17.5% and expanded 120 basis points as compared with the prior year period. Operating earnings growth and operating margin expansion were driven by the higher sales volume, improved revenue mix and ongoing operational efficiency initiatives.  Second quarter 2011 net earnings were $54.8 million.

Southern Air signs ACMI agreement with Saudi Arabian Airlines

July 25, 2011 · 27 Views

Southern Air and Saudi Arabian Airlines have signed a definitive agreement under which Southern Air will operate one Boeing 747 freighter on behalf of Saudi Airlines Cargo on an ACMI basis (aircraft, crew, maintenance and insurance).  The aircraft will begin to be operated for Saudi Airlines Cargo in July 2011 and will be painted in its livery.

Phenom 300 receives type certification in Australia

July 25, 2011 · 61 Views

Embraer has received Type Certification (TC) from Australia’s Civil Aviation Safety Authority (CASA), for the Phenom 300 light jet to operate in the country. Frst certified in December 2009 by Brazil’s National Civil Aviation Agency (Agência Nacional de Aviação Civil – ANAC) and the U.S. Federal Aviation Administration (FAA), the Phenom 300 is now accepted in almost 40 countries including Indonesia, Austria, Denmark, France, Morocco, the United Kingdom, South Africa and the United Arab Emirates, amongst others.

Embraer Defense and Security chooses V2500-E5 engine for KC-390 Transport

July 25, 2011 · 24 Views

Embraer Defense and Security has selected the V2500-E5 engine, manufactured by International Aero Engines AG (IAE), to equip the KC-390 military transport jet. The first deliveries of the V2500-E5 engines for the KC-390 prototypes are scheduled for 2013, and the flight tests for 2014. The aircraft should go into service in 2015.

Rockwell Collins unveils touch-control flight displays for business jets and turboprop aircraft

July 25, 2011 · 21 Views

Rockwell Collins unveiled the industry’s first touch-control primary flight displays for business jets and turboprop aircraft, which will be available on future applications of the company’s Pro Line Fusion avionics system. The announcement was made at the 59th Annual Experimental Aircraft Association (EAA) AirVenture in Oshkosh.

“These displays demonstrate our focus on empowering pilots with natural head-up, eyes-forward interfaces,” said Colin Mahoney, vice president of Sales and Marketing for Rockwell Collins. “Touch-controlled, icon-based controls on the main displays help keep pilots’ attention focused up and forward for safer and more efficient flying.”

Messier-Bugatti-Dowty strengthens partnership with Airbus

July 25, 2011 · 87 Views

Messier-Bugatti-Dowty (Safran group) reported the extension of its supply relationship with Airbus for the nose and main landing gears of the single aisle program to include the contract award of the A320neo family. As the incumbent landing gear supplier for the A320 family, Messier-Bugatti-Dowty will progressively offer enhancements to current single aisle landing gears starting in 2014, in order to ensure a seamless transition into A320neo family deliveries, scheduled for entry in service in 2015. Direct benefits to operators include greater reliability and an extended service interval of 12 years between overhauls.

To date, Messier-Bugatti-Dowty has delivered 4,800 landing gears for the A320 family. The company’s global industrial network delivers 38 shipsets per month to Airbus Final Assembly Lines in Toulouse, Hamburg and in China. Messier-Bugatti-Dowty supplies landing gear to all Airbus families in service or in development, including the entire A330/A340 family, A380 nose landing gear and A350-800/900 main landing gears.