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LATEST NEWS

Friday, July 17th, 2020

SR Technics secures additional funding – consolidates services now offered

SR Technics, a leading provider of MRO solutions for aircraft, engines, components, engineering and training, has announced it has secured a CHF120 million (US$127 million) additional credit line from its existing consortium of banks, supported by 60% surety by the Swiss Confederation.

Having posted results that exceeded expectations for Q1 2020, growth collapsed in April as a consequence of the COVID-19 pandemic, so the company immediately adopted cash-preserving measures. With this additional line of credit, SR Technics has now chosen to review the wide array of services available and, as a result, will focus on engine services and line maintenance.

According to SR Technics, this main business will be complemented with a range of additional services provided by independent subsidiaries, ensuring a stronger and sustainable company ready to support its customers. By the end of 2020 the company also expects to have ceased the provision of design engineering solutions and will have restructured its flight-hour-based component services, progressively reducing it, while concentrating more on component repairs and trading activities.

“In this competitive and dynamic MRO market, this repositioning of SR Technics as a Swiss quality brand with highly skilled employees is a necessary step to ensure long-term sustainability and to provide added value to our customers, focusing on engine services and line maintenance,” said Jean-Marc Lenz, Chief Executive Officer, SR Technics.

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Gulfstream names Josh Thompson CFO

Gulfstream Aerospace has named Josh Thompson of General Dynamics Ordnance and Tactical Systems (OTS) as the aerospace company’s Chief Financial Officer (CFO) effective August 3. Thompson will report to Mark Burns, president, Gulfstream, and serve as a member of the Gulfstream leadership team. He succeeds Dan Clare, Gulfstream’s long-time CFO, who will retire at the end of September.

Thompson brings a wealth of experience to the role, having served in various positions at OTS and parent company General Dynamics’ corporate headquarters since joining the defense company in 2004. Thompson has been the OTS CFO since 2018.

Honeywell opens new T55 engine maintenance center in Phoenix

Honeywell has secured approval from the U.S. Army through a product verification audit and opened a state-of-the-art T55 Repair and Overhaul Center of Excellence facility near its Honeywell Aerospace headquarters in Phoenix.

Honeywell’s new Center of Excellence for T55 helicopter engine maintenance optimizes operations and enhances support for the U.S. Army and international customers. By co-locating the T55 engine’s engineering, production, repair and overhaul, Honeywell has significantly improved operating efficiencies and performance for many of its customers.

Honeywell’s T55 engine has supported the CH-47 Chinook helicopter for nearly 60 years. During that time, Honeywell has produced more than 6,000 T55 engines, which have logged about 12 million hours of operation.

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New landing bans force Austrian Airlines to cancel flights

The Austrian Federal Ministry of Social Affairs, Health, Care and Consumer Protection has massively expanded the list of landing bans for aircraft. Since Thursday, July 16, 2020, no regular flights from the following countries, among others, will be permitted to land in Austria: Albania, Bosnia and Herzegovina, Bulgaria, Egypt, Kosovo, Montenegro, North Macedonia, Romania and Serbia. The landing bans for aircraft from Great Britain, Sweden and the Ukraine have been extended. The decree is valid until July 31, 2020.

Due to the official prohibition, Austrian Airlines is forced to cancel all flights between Vienna and the following destinations during the period 16-31 July 2020: Belgrade, Bucharest, Cairo, Kyiv, London, Podgorica, Pristina, Sarajevo, Sibiu, Skopje, Sofia, Stockholm, Tirana and Varna.

The landing bans will also have an impact on the remaining route network of Austrian Airlines, due to the fact that the affected routes are frequented by many transfer passengers. These passengers will be missing for example, flights to the U.S.A.

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FAI Technik appointed as Honeywell Channel Partner

FAI Technik GmbH, the maintenance division of Germany’s FAI Aviation Group, has been appointed as an authorised Channel Partner for Honeywell Aerospace. The agreement allows FAI to supply and service Honeywell avionics parts and systems. It covers all Honeywell Aerospace business aviation avionics products including its range of connectivity solution and services, cockpit and cabin upgrades.

As a Channel Partner, FAI Technik will be able to offer detailed Honeywell system upgrades, installation solutions, EASA and STC (Supplemental Type Certificates) certification as well as Honeywell parts. Additionally, as part of the global Honeywell network, FAI will collaborate with the global aerospace manufacturer to develop marketing strategies, identify business opportunities and bring the best value to customers.

This latest appointment will further expand FAI’s offering and facilitate faster installation times for customers owing to improved supply chains. FAI Technik is already in discussions with a number of clients about the opportunities presented by Honeywell’s products.

GA Telesis concludes purchase of eight PW4056 engines from Delta Material Services

GA Telesis (GAT) has concluded the purchase of eight Pratt & Whitney PW4056-3 engines from Delta Material Services (DMS), all of which were last operated by Delta Air Lines (DAL).

The transaction was concluded by the Component Solutions Group (CSG), whereas the engines will be immediately inducted for disassembly and repair. Upon completion, the used serviceable material (USM) will be made available to GA Telesis’ airline and MRO customers worldwide within the next three months.
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Atlas pilots outline focus for contract talks

As the pilots of Atlas Air continue to push for the completion of long-stalled negotiations over a new master contract with the company, the International Aviation Professionals (IAP), which represents the Atlas pilots, said focusing on achieving wins for all parties can guide the contract talks to a fast conclusion. Both parties are expected back at the bargaining table starting July 20.

The Atlas Air pilots have been working without a contract since 2016. Atlas Air is an air cargo and charter airline and aircraft lessor.

Job security is a key issue. The pilots are looking for guarantees that if Atlas sells assets, the pilots tied to those assets would go to the new company. “We are dealing with people who want to work hard and help Atlas grow, but they need to know they will not be left out in the cold if the company sells,” said Robert Kirchner, the head of the IAP, Teamsters Local 2750. “We want the subpar working conditions addressed, including poor scheduling that costs the company millions per year, and eliminating dangerous situations, especially in foreign countries,” said Kirchner.
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