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LATEST NEWS

Wednesday, September 23rd, 2020

LCI and Sumitomo Mitsui Finance and Leasing launch US$230 million Helicopter leasing joint venture

LCI, a leading helicopter lessor and the aviation division of the Libra Group, and Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) have agreed to establish and operate a joint venture helicopter leasing business.

The vehicle has launched with the initial acquisition of 19 next generation helicopters with a value of US$230 million. SMFL and LCI are co-investors in the partnership, with LCI also acting as manager.

The young, modern helicopters acquired by the joint venture will be used by operators across the globe on a range of missions including Emergency Medical Services (EMS), Search and Rescue (SAR), and transportation to offshore wind farms. With a strong lessee profile, long average lease tenor and full power by the hour maintenance coverage, the portfolio offers a robust profile for the investors.

The new joint venture will enable SMFL and LCI to further expand the range and volume of their helicopter investments by leveraging their proven track record, knowledge and experience derived from SMFL’s aircraft and engine leasing companies, and LCI’s years of value creation in aviation helicopter and fixed wing leasing.

LCI’s fleet comprises approximately US$1 billion of assets in service, on order and under management, focused on the latest technology medium and super medium helicopters manufactured by leading helicopter OEMs including Leonardo, Airbus and Sikorsky.

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IATA looks to pre-departure COVID-19 testing as solution to damaging quarantine restrictions

The International Air Transport Association (IATA) has been looking into ways to help airlines recover from a 92% drop in international travel compared to 2019 levels. It has identified a combination of border closures, sporadic quarantine regulations and frequent changes to countries’ measures to combat the COVID-19 virus as key drivers that make planning flights virtually impossible.

“The key to restoring the freedom of mobility across borders is systematic COVID-19 testing of all travelers before departure. This will give governments the confidence to open their borders without complicated risk models that see constant changes in the rules imposed on travel. Testing all passengers will give people back their freedom to travel with confidence. And that will put millions of people back to work,” said Alexandre de Juniac, IATA’s Director General and CEO.

There is considerable concern that the aviation industry will collapse if the pandemic crisis prolongs the lack of demand for air travel, an industry which supports 65.5 million workers. The current cost of the pandemic is estimated at US$400 billion, while IATA anticipates that 2020 will see carriers post a combined net loss of US$80 billion. Those figures may prove to be optimistic as they have been based on a rebound scenario, while much of Europe is witnessing a resurgence of the deadly virus.

“Safety is aviation’s top priority. We are the safest form of transport because we work together as an industry with governments to implement global standards. With the economic cost associated with border closures rising daily and a second-wave of infections taking hold, the aviation industry must call on this expertise to unite with governments and medical testing providers to find a rapid, accurate, affordable, easy-to-operate,  and scalable testing solution that will enable the world to safely re-connect and recover,” said de Juniac.

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GKN Aerospace starts shipping engine components from new facility in Johor, Malaysia

GKN Aerospace has shipped the first aero-engine components from its site in Johor, Malaysia. The CFM56 low-pressure compressor components have been delivered to an Asian engine MRO service provider.

The Federal Aviation Administration (FAA) issued the base certification to GKN Aerospace’s Johor facility in Malaysia for the repair of CFM56 aero-engine parts earlier this year. Site certification process for additional FAA certifications is on track.

The Johor site employs approximately 70 people and will be the GKN Aerospace Repair Centre for customers in the APAC region, servicing engine low pressure compressor (LPC) components for CFM56-5B, CFM56-7 and V2500.

The facility will complement GKN Aerospace’s existing component repair facility in San Diego, CA. The site has an important strategic growth role in GKN Aerospace’s global manufacturing and development footprint in Asia and will also be home to additional capabilities including research and development activities around the application of additive manufacturing technology into engine parts repair.

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Sriwijaya Air selects Rusada’s ENVISION

Indonesian airline Sriwijaya Air has signed up for Rusada’s Airworthiness and MRO software, ENVISION. Sriwijaya Air is Indonesia’s third largest carrier, and along with subsidiary Nam Air, provides passenger flights to destinations across the country as well as international flights to Malaysia, Singapore and China. Since launching in 2003, its fleet has grown to 30 aircraft, consisting of Boeing 737’s and ATR 72’s.

Sriwijaya Air have signed up for six of ENVISION’s modules, including Fleet Management, Line Maintenance, Inventory Management, and Human Resources. Rusada has already begun work on the implementation project, which will be carried out remotely due to the COVID-19 pandemic. Its Asia-Pacific team, based in Brisbane, will conduct user training sessions via video conferencing and use project management software to track and convey progress to Sriwijaya.

Jetcraft strengthens European team

Jetcraft, a leader in business jet sales and acquisitions, is bolstering its European team with the appointment of Fabrice Roger and Massimo Burotti as Sales Directors for the region.

Roger, a French national  who has been with Jetcraft since 2013, is relocating from Miami, U.S.A. to Nice, France, and will cover France, Benelux, Southern Europe and Northern Africa, while Burotti joins Jetcraft from Bombardier as Sales Director for Italy, Switzerland, Austria, Germany and Hungary. He will be based at the company’s London, U.K. headquarters.

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Boeing-developed portable UV wand will inactivate viruses and bacteria on airplanes

Boeing has entered into a patent and technology license with Florida-based Healthe®, under which Healthe will manufacture an ultraviolet (UV) wand designed to sanitize airplane interiors. Boeing designed and developed the UV wand as part of the company's Confident Travel Initiative (CTI) to support customers and enhance the safety and well-being of passengers and crews during the COVID-19 pandemic.

Healthe will produce and distribute the commercial wand, helping airlines and potentially others combat the coronavirus pandemic. The technology could be available for airlines in late fall. The device is an addition to sanitizing and protective measures already in place, which include the use of high-efficiency particulate air filters that trap more than 99.9% of particulates and prevent them from re-circulating back to the cabin.

The UV wand uses 222 nanometer UVC light. Research indicates 222 nanometer UVC inactivates pathogens effectively.

Using the self-contained apparatus that resembles a carry-on suitcase, crews can pass UV light over high-touch surfaces, sanitizing everywhere the light reaches. The UV wand is particularly effective in compact spaces and sanitizes a flight deck in less than 15 minutes.

Volaris shareholders authorize capital increase

The general extraordinary shareholders meeting of Mexican low-cost airline Volaris, has authorized a capital increase of up to MXN3.5 billion to strengthen the carrier's capital position and take advantage of potential growth opportunities.

Volaris is evaluating different financing alternatives and has obtained shareholder approval for the issuance of new shares that can be used to raise capital, through a rights offering, the outright sale of shares, or the issuance of debt/convertible debentures in Mexico, the United States of America and other countries.

Any such offering could be carried out individually or in conjunction with other transactions. The determination of the final terms and conditions of any such offering were delegated to the Board of Directors and will be based on the prevailing market conditions at the time of such offering.

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Recaro CL3710 economy class seat takes flight on Gulf Air’s new A321neo

Recaro Aircraft Seating’s CL3710 economy class seat is taking flight on Gulf Air’s new A321neoLR aircraft. This is the first of 29 aircraft to be equipped with the CL3710 seat, which are slated for delivery over the next five years.

Created with long-haul passengers in-mind, the CL3710 has earned numerous accolades for its sleeping comfort features and lightweight design. The holistic design is comprised of the six-way adjustable headrest, Recaro-patented extended seat bottom, seamless flip cushion for enhanced lumbar support, and a 30-inch seat pitch.

The seat’s modular design ensures minimal maintenance and its competitive weight contributes to fuel efficiency. Since its introduction to the market in 2013, the CL3710 has equipped aircraft for nearly one dozen airlines.

CAE launches new digital platform for pilots

CAE has announced the official launch of Airside, a new digital platform and online community for pilots. Airside provides career and training tools to support pilots during the COVID-19 pandemic, and throughout their professional career. CAE’s digital team, based at the company’s innovation campus in Montreal, designed and developed this new digital platform after surveying over 3,000 pilots in April 2020. More than 10,000 visitors have accessed Airside since the digital platform first went live in June 2020.

With its Resume Builder, Career section, articles, podcast, and much more, Airside is designed to help pilots improve their skills and advance their careers in a community environment where professional pilots have resources and support to help them succeed. In addition to connecting proficiency and career opportunities for professional pilots, Airside solicits constant feedback with surveys to help ensure we create relevant content for the platform.
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Tamar Jorssen
Vice President Sales & Business Development
Email: tamar.jorssen@avitrader.com
Phone: +1 (788) 213 8543
Tamar