Daily2018-02-20
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LATEST NEWS

Friday, February 28th, 2020

Court ruling sees plans for London Heathrow’s third runway once again put on hold

The Court of Appeal has overruled the U.K. governments go-ahead for a third runway at London Heathrow Airport on the basis that it was unlawful. The principal bone of contention relates to environmental factors. Transport Secretary Grant Shapps said the government would take time to decide its next move. "The court's judgement is complex and requires careful consideration. We will set out our next steps in due course," he said. "The government has taken the decision not to appeal this judgement. The promoters of the scheme will be able to seek permission from the Supreme Court to appeal if they wish." Not surprisingly, Heathrow bosses want to keep alive the plans for the redevelopment and believe that they can.

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China Eastern unveils new airline OTT to fly COMAC’s C919

While Commercial Aircraft Corp of China (COMAC) continues to undergo flight testing on its C919 narrow-body jet, China Eastern Airlines Corp (China Eastern) has launched a subsidiary carrier, OTT, to fly the China-made jet further afield than the domestic market, alongside COMAC’s regional jet, the ARJ21.

China Eastern had already been earmarked as the launch customer, though the jet is currently five years behind schedule. The C919 was designed to directly challenge the Airbus A320 Family and Boeing 737 MAX jets. On the same day last August as Air China and China Southern Airlines placed orders, China Eastern placed an order for 35 of the C919s. Current order numbers stand at over 800, though these are predominantly from China-registered carriers and leasing companies, though GE Capital Aviation Services (GECAS) has placed an order for ten of the jets, with an option for an additional ten.

While the C919 continues to struggle with a multitude of technical issues that have severely restricted test flights, COMAC is also looking for certification from EASA to enable it to fly to European destinations.

Honeywell expands maintenance and connectivity services in Central Europe

Honeywell has added Lithuania-based Jet Maintenance Solutions to its business and general aviation Channel Partner program.

Under the agreement, Jet Maintenance Solutions will provide Honeywell’s leading maintenance services and connectivity solutions for Central European customers. As Honeywell’s third-authorized service center in the region, the agreement will expand maintenance location options for Honeywell customers, saving them precious time and money.

Jet Maintenance Solutions offers base and line maintenance services for various Hawker Beechcraft aircraft, including the 700, 800 and 900 models, and their related variants; the Bombardier CRJ 100, 200 and 440; Bombardier Challenger 604, 605 and 850; and Bombardier Global 5000 and 6000 aircraft. Before this agreement, Honeywell customers using these platforms had to travel to Western Europe for maintenance service and support.

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GA Telesis appoints David Byrne, Director of Asset Remarketing

GA Telesis, (GAT) has appointed David Byrne as Director of Asset Remarketing. Byrne brings nearly a decade of experience in the aviation sector to the GA Telesis Asset Transaction Group.

Byrne was a member of the AerCap team for over five years, where he was most recently Director of Leasing with responsibility for sales and marketing activities across the EMEA region. His prior experience includes GECAS and CAE Parc Aviation.

Based in Dublin, Ireland, Byrne will be responsible for coordinating asset remarketing for GA Telesis’ expanding global portfolio.

Fly Leasing reports fourth-quarter and full-year 2019 financial results

Fly Leasing (FLY) is reporting net income of US$75.2 million for the fourth quarter of 2019. This compares to net income of US$31.0 million for the same period in 2018. Net income for the year ended December 31, 2019 was US$225.9 million, compared to net income of US$85.7 million for the year ended December 31, 2018.

Adjusted net income was US$77.0 million for the fourth quarter of 2019, compared to US$30.8 million for the same period in the previous year. For the year ended December 31, 2019, adjusted net income was US$245.9 million, compared to US$91.2 million for the same period last year.

In the year 2019 FLY sold 35 aircraft with an average age of over 10 years, generating an economic gain of nearly US$150 million, which was an 18% premium to book value.

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EL AL signs PBH contract with AJW Group

AJW Group, an independent specialist in the global management of aircraft spares, has won a long-term power-by-the-hour (PBH) contract with Israeli carrier, EL AL Israel Airlines (EL AL).

The PBH support will cover EL AL’s fleet of 26 Boeing 737 Next Generation aircraft via AJW inventory hubs in the UK, Germany, Israel as well as at other key European line stations in the EL AL network. 

The contract marks an extension of AJW’s relationship with EL AL, which has seen many years of ad hoc work to-date. By utilizing AJW’s PBH offering, EL AL will have access to aircraft parts and AJW Technique’s repair facility, which will be supporting the repair of EL AL components across multiple ATA chapters including avionics, fuel, hydraulics and pneumatics.

King Aerospace growth continues

King Aerospace has completed routine maintenance, avionics, paint and interior refurbishment on 40 Boeing Business Jets (BBJs), Boeing 737s and Boeing 757s and 45 of corporate aircraft last year at its facilities in Ardmore, OK. In 2018, it completed work on 29 Boeing aircraft and 44 corporate aircraft.

King Aerospace’s Ardmore facility includes four hangars offering 200,000 ft² of space. In addition to VVIP and corporate aircraft, it also provides depot services for military and government aircraft.

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Magnetic MRO and OSM Aviation launch joint apprenticeship program

Magnetic MRO and OSM Aviation (OSM) have signed a MoU to engage in a strategic partnership by generating an apprenticeship program aimed at OSM recruits and employees. The first group of qualified technical apprentices from Norway and Sweden has been selected and will start their 24-months practical studies program at the Magnetic MRO in Tallinn, Estonia, from early September 2020.

Globally, the aircraft technical trade has undergone dramatic changes and shifts in manpower requirements over the past decades. At a regional-level, there has been a steady reduction and a slow-down of maintenance activities carried out in Scandinavia. As a consequence, there has
been a sharp decrease in interest among students who select the aircraft technical trade and the industry is suffering from low growth and low interest among young talents.

OSM Aviation, a leading global specialist in employment, training and administration of aviation personnel worldwide, has also encountered the lack of internship opportunities in the region for the
students who require such apprenticeships in order to complete their technical studies, therefore the joint program was established in cooperation with Magnetic MRO. The first application wave proved to be successful with over 60 students applying for the internship, laying the foundation for a continuous and promising program offering.

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First GTF engine produced in Japan completes maiden flight

Mitsubishi Aircraft Corporation, an MHI Group company, has completed its maiden flight with the first Pratt & Whitney GTF™ PW1200G engine, assembled in Japan. The flight was completed in the United States at the company’s Flight Test Center in Moses Lake, WA, and was performed by the company’s Flight Test Aircraft 1 (FTA1).

With the success of this flight, Mitsubishi Aircraft and Mitsubishi Heavy Industries Aero Engines, (MHIAEL) marked an important milestone for the development of the commercial aviation business in Japan.

Finnair adds frequencies to Delhi and Los Angeles for peak summer 2020 season

Finnair is adding three weekly frequencies to Delhi once the peak travel season for summer 2020 begins at the end of June. Finnair currently flies four weekly frequencies to Delhi. As of July 1, the
route will be operated daily for the remainder of the summer season as well as for the upcoming winter season. Finnair’s Delhi route is operated with an Airbus A330 aircraft and connects well to
Finnair’s wide European and transatlantic networks.

Finnair is also adding a weekly frequency to its popular Los Angeles route. The new frequency, which will be operated with an Airbus A350, will be flown on Fridays as of July 3 and will be operated until the end of the 2020 summer season which concludes on October 24, 2020.

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UPCOMING EVENTS

Operating Lease & Aviation Finance Seminar 2020
March 24 - 26, 2020 - London, UK

Technical Aspects of a Leased Asset 2020
April 21, 2020 - Amsterdam, Netherlands

Maintenance Reserves Seminar 2020
April 22, 2020 - Amsterdam, Netherlands

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Tamar Jorssen
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Email: tamar.jorssen@avitrader.com
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Tamar