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LATEST NEWS

Wednesday, March 11th, 2020

BOC Aviation signs lease agreement for 22 Boeing Dreamliners with American Airlines

BOC Aviation Limited (BOC Aviation) has announced an agreement with American Airlines (American) to lease 22 Boeing 787 Dreamliners, with delivery to take place between 2020 and 2021. The aircraft will be powered by General Electric Genx engines.

Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said: “We are excited to welcome American as a new customer to BOC Aviation, and to celebrate a new milestone, as this transaction becomes the largest lease commitment in our history. We look forward to working closely with American and to playing a long-term role as a key partner. This incremental investment in 22 new Boeing 787-8 aircraft also speaks to the strength of our balance sheet and our capacity to provide innovative financing solutions for our global customer base. With this transaction, we have now purchased or committed to purchase more than 390 Boeing aircraft, and we are pleased to expand on our long-standing relationship with Boeing and GE.”

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AJW Group extends Pool Access Agreement with Acropolis Aviation

AJW Group is extending its Pool Access Agreement with Acropolis Aviation in support of G-NOAH and has entered into a new support agreement for G-KELT.

AJW has been providing tailored spares support services to Acropolis Aviation, the U.K.-based VIP charter and aircraft management company since 2011.

The extension to the contract sees AJW continue to provide support for Acropolis’ ACJ319 G-NOAH along with a Pool Access Agreement for their new ACJ320neo G-KELT aircraft, which is the first of its kind.

AJW operates a comprehensive 24/7/365 export freight and logistics service. Our knowledge of all customs, hazardous goods regulations, and export control regulations, enables us to advise customers and ship spares with maximum efficiency and safety.

DAE increases bond repurchase program by US$300 million

Dubai Aerospace Enterprise (DAE) announced that its Board of Directors and Shareholders had authorized an additional US$300 million for bond repurchases to be conducted through open market transactions. To date, DAE has repurchased approximately US$555 million of principal amount of its publicly traded bonds under the previous authorizations of US$600 million.

DAE Chief Executive Officer Firoz Tarapore said: “We repurchased approximately US$70 million since recommencing the program last week. Today, we are increasing our available authorization as the current disruption in credit markets is creating opportunities for us to acquire our outstanding debt at compelling price levels. The current liquidity profile of the company remains robust.”

DAE currently has US$2.75 billion of publicly traded bonds outstanding in the US capital markets.

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LHT signs technical support contracts with Red Wings and SmartAvia

The Russian carrier Red Wings Airlines has contracted Lufthansa Technik to provide extensive support for its growing Airbus narrow-body fleet. Within the frame of a contract with another Russian airline, Lufthansa Technik will also provide technical services for the Boeing 737 fleet of SmartAvia.

Under a six-year contract with Red Wings Airlines, Lufthansa Technik supports the IAE V2500 and CFM56-5B engines of the carrier's Airbus fleet with a full range of engine services including engine condition monitoring (ECM). For the duration of the contract, a shop visit is planned for each of the currently 24 engines. Lufthansa Technik will also maintain the landing gears of Red Wings' fleet of currently eight Airbus A320s and four A321s on a fixed price basis over the next six years.

SmartAvia has signed a long-term agreement covering technical services for the carrier's Boeing 737 fleet. Under the terms of the contract, Lufthansa Technik provides spare parts for the Boeing 737 NG aircraft of the carrier's fleet.

The new contract provides Smartavia with guaranteed access to Lufthansa Technik's component and spare parts pool. Lufthansa Technik's support around the clock ensures that all aircraft spare parts can be supplied to the airline at short notice, reducing the time required to maintain the aircraft and therefore its ground time.

Ultimately, this comprehensive support will allow Smartavia to increase its fleet renewal rate, to expand its route network and enhance the level of services provided to passengers.

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Cassio e-aircraft flight testing underway with Safran’s ENGINeUSTM electric motors

VoltAero has marked a significant milestone in developing its all-new family of Cassio e-aircraft with initiation of flight testing using Safran Electrical & Power’s ENGINeUSTM smart electric motors.

This testing is a major step toward validating the electric and hybrid-electric powertrains for Cassio aircraft. It keeps the company on track in evolving a family of airplanes with four to nine seats, tailored for operation by private owners, air taxi/charter companies, in commercial flights for point-to-point regional travel, and in various utility-category applications.

The current flight evaluations utilize VoltAero’s Cassio 1 testbed aircraft, with the two ENGINeUSTM 45 electric motors installed in forward-facing positions on the wings. Cassio 1 is piloted by Technical Director Didier Esteyne, operating from VoltAero’s headquarters facility at the Royan-Médis Aérodrome in France.

In its full-up nine-seat version, the Cassio aircraft will utilize electric motors along with VoltAero’s proprietary aft-facing hybrid power module, which brings together an internal combustion engine and three electric motors. The prototype VoltAero hybrid power module continues its validation on a ground-based rig, preparing for a subsequent integration on the Cassio 1 testbed aircraft.

AEM secures Wizz Air contract for first aid kits

AEM, a business within AMETEK’s Aerospace and Defense Division, has signed a contract to supply Hungarian airline, Wizz Air, with Aeromedic first aid kits for an additional 146 aircraft in the airline’s Airbus fleet. AEM will manufacture and deliver kits for more than 268 firm orders of the Airbus A320/A321 NEO and CEO family aircraft.

AEM will manufacture the kits at its Luton Airport facility, located in London. Airbus will receive the kits by the aircraft on dock dates, per the agreement. The agreement also covers the refurbishment of the kits, as required.

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Magnetic MRO and Airbus sign airframe maintenance agreement

Magnetic MRO, a Total Technical Care and asset management organization, and Airbus have signed a long-term airframe maintenance agreement for the support and maintenance of Airbus Family aircraft.

"The Total Technical Care is not only about the quality of MRO services. It's also about first-class customer support, transparent processes, and exceptionally high procedural standards. We're very proud of our team which has proven to meet these standards on numerous occasions. We are glad to expand our partnership with Airbus and share the experience of Magnetic MRO high quality of service with them and their partners. This has definitely opened new horizons for Magnetic MRO, and we are looking forward to wide cooperation now that we are an approved supplier for Airbus maintenance-related activities," shared Inga Duglas, Chief Commercial Officer at Magnetic MRO.

Magnetic MRO provides EASA and FAA-certified Total Technical Care services for aircraft operators and owners in Europe, the Middle East, Africa and Asia.

Sabena Technics appoints new General Manager for Nîmes site

Independent MRO service provider Sabena Techics has appointed Philippe Fournadet as General Manager of its Nîmes site.

Fournadet is a recognized expert in the field of aircraft maintenance. He has held various responsibilities in France as well as internationally, including several experiences within the Airbus Group. In 2008, Fournadet was extensively involved in the creation and development of Tarmac Aerosave, a company specialising in the dismantling and storage of aircraft.

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Norwegian to cancel approximately 3000 flights and implement temporary layoffs

Norwegian has released that it plans to cancel an estimated 3000 flights between mid-March and mid-June due to the coronavirus outbreak. This represents approximately 15% of the total capacity for this period.

At the same time, Norwegian announced temporary layoffs for larger parts of its workforce, including crew members and other employees.

This is a critical time for the aviation industry, including us at Norwegian. We encourage the authorities to immediately implement measures to imminently reduce the financial burden on the airlines in order to protect crucial infrastructure and jobs,” said CEO Jacob Schram of Norwegian.

Changes at IBA’s Senior Leadership Team

IBA Group has appointed Ian Beaumont to Chief Executive Officer (CEO) of IBA Group effective from March 11, 2020. Phil Seymour, IBA’s former CEO will continue to serve as Company President.

For the past five years the business has been successfully led by Seymour and has seen a period of rapid growth with both its core professional and advisory services, as well as the powerful data platform, IBA.iQ.

Building on this success, the Company continues to make significant investments in scaling the business to accommodate the growth in demand for its services. Beaumont’s appointment, with a proven track record of leading fast-growing, data-driven, professional services businesses, will strengthen the already-impressive and experienced senior leadership team.

Beaumont comes with outstanding credentials as the former founder and CEO of Matrix Solutions, and as such, he has substantial expertise across asset management, professional services and data platforms with a proven track-record of building fast-growing, international business intelligence companies.

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Tamar Jorssen
Vice President Sales & Business Development
Email: tamar.jorssen@avitrader.com
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Tamar