Daily2018-02-20
Follow-Us-Facebook
Follow Linkedin
Follow Twitter

LATEST NEWS

Friday, October 23rd, 2020

China yet to confirm plans to lift flight ban on 737 MAX

The head of China’s aviation regulator, Feng Zhenglin, has advised that the country currently has no plans to lift the grounding of the Boeing 737 MAX, having been the first country to ban the aircraft from flying after two fatal crashes.

Zhenglin confirmed that China would be prepared to lift the ban once the jet had satisfied three principles: design changes needed to be certified, pilots needed to receive proper training, and effective improvement would have to be made to address the specific findings of the investigations into the two crashes.

“Based on these three principles, we have not set a timetable for Boeing 737 MAX’s return to service here. As long as these conditions are met, we’re happy to see the MAX return to service in China,” said Feng. “But if these conditions cannot be met, we still have to carry out strict airworthiness certification in order to ensure safety.”

Currently the 737 MAX is expected to receive regulatory approval from the European Union Safety Agency (EASA) in November, and the U.S. Federal Aviation Authority (FAA) around mid-November. Feng confirmed that the CAAC had been in contact with the FAA, EASA, and Boeing regarding the 737 MAX and that he had held two meetings with Boeing’s president to discuss its return to service.

AFI_02

American Airlines reports third-quarter net loss of US$2.4 billion

American Airlines Group has posted its third quarter 2020 financial results, including third-quarter revenue of US$3.2 billion, down 73% year-over-year on a 59% year-over-year reduction in total available seat miles (ASMs).

American has reported third quarter pretax loss of US$3.1 billion, excluding net special items, third-quarter pretax loss of US$3.6 billion. Third-quarter net loss was US$2.4 billion, excluding net special items, third-quarter net loss was US$2.8 billion.

American ended the third quarter with approximately US$13.6 billion of total available liquidity. In addition, in October, the company increased its loan capacity by US$2 billion through the CARES Act loan program to US$7.5 billion. With this increase, the company’s third-quarter pro forma liquidity balance is approximately US$15.6 billion.

American announced authorization to issue up to US$1 billion of equity in an at-the-market offering to further bolster liquidity.

IFS’s recurring revenues up 41% for third quarter 2020

IFS, the global enterprise applications company, has reported its financial results for the third quarter of 2020. The financial highlights reveal a strong business that continues its trajectory of hyper growth in areas such as cloud- and service management software.

The company’s commitment to advancing its service management technology is projected to deliver north of 100% year-on-year growth in service licence software revenue by year-end.

IFS reported net revenue of SEK 5,111 million (US$544 million), an increase of 12% versus the third quarter of 2019. Service management licence revenue grew 86% versus the third quarter of 2019 and recurring revenue increased 4%, while Cloud revenue increased 59% versus 2019.

In the third quarter, IFS’s industry focus continued to pay dividends, with the aerospace and defence (A&D) business unit not only welcoming aircraft manufacturer De Havilland Canada to the family, but also closing the largest-ever deal in the company’s history with one of the sector’s leading brands.


ELF_09

Pipistrel selects Honeywell to provide Advanced Control Technology for Nuuva V300 unmanned cargo aircraft

Pipistrel has selected Honeywell’s Compact Fly-By-Wire system for the Nuuva V300 cargo unmanned aerial vehicle (UAV), choosing a modern, lightweight, highly capable system with a proven architecture ideally suited for its autonomous cargo UAV.

Fly-by-wire computers act as the “brains” of an aircraft’s flight controls by operating them electronically and can be found inside nearly all large fixed-wing aircraft today. The compact version from Honeywell has features derived from decades of expertise in fly-by-wire systems for airliners, but is much smaller — roughly the size of a paperback book. This product is intended for smaller autonomous cargo and urban air mobility (UAM) vehicles and adds stability and performance by driving flight controls electrically, without heavy hydraulics, control cables or push rods.

Pipistrel’s Nuuva V300 is a long-range, large-capacity, autonomous UAV. It will take off and land vertically with battery power, meaning it does not require a runway, and has significantly lower operating costs than helicopters. It can carry loads up to 300 kilograms (around 660 pounds) for more than 300 kilometers (around 186 miles), making it an ideal solution for deliveries to areas traditionally accessible only by helicopter.

SET_01

MTU Maintenance Canada partners with GE Aviation to support US Air Force F108 engines

MTU Maintenance Canada, MTU’s stronghold and competence center for military engine maintenance, will provide maintenance, repair and overhaul services for the United States Air Force’s (USAF) F108 engines beginning in the fourth quarter of this year. MTU Maintenance will be partnering with GE Aviation on the five-year contract (one-year base and four one-year option periods), taking responsibility for maintenance, repair and overhaul services.  

The F108 is the military variant of the CFM56-2 engine and powers the Boeing KC-135 Stratotanker refuelling aircraft. USAF has over 300 of these aircraft and 1,500 plus engines in their fleet.  The -2 variant differs only slightly from the CFM56-3, for which MTU Maintenance has been carrying out MRO at its facility in Canada for over 15 years.  

Aircraft interiors specialist, Andrew Newell, joins Bii.aero

Expanding provider of aircraft parts and services for the commercial, governmental/military and rotary aviation sector, Bii.aero, has appointed Andrew Newell as Sales Director.  

Newell brings a highly specialized expertise in the aircraft interiors sector and is tasked with setting up a new center of excellence at Bii. Management of consignment stock is another area of focus for Newell as Bii’s warehousing and logistics management is increasingly utilized by third parties seeking flexible support partners.

Prior to joining Bii.aero, Andrew Newell was Vice President/Accountable Manager of Leki Aviation with global responsibility for the sale of all aftermarket materials and the creation and development of 25 Repair Centre/Leki Tech that specialized in the repair of electronic and mechanical cabin equipment.

MAG_03

Aergo Capital announces sale of two Boeing 737-300 aircraft

Aergo Capital (Aergo) has completed the sale of two 1997-98 Vintage Boeing B737-300 aircraft bearing manufacturers serial number (MSN) 28569 and 28869 to Star Air Cargo (Star Air).

This ends 15 years of 737 classic ownership by Aergo. Around 75 aircraft of this model have been owned and leased by Aergo both in passenger and in freighter configurations.
AviTrader_Weekly_Headline_News_Cover_2020-10-19

click here to download the latest PDF edition

MRO-2020-10 cover

click here to download the latest PDF edition

click here to subscribe to our other free publications

AIRCRAFT & ENGINE MARKETPLACE

click here to view in PDF aircraft and engines available for sale and lease

Follow Twitter
Follow Linkedin
Follow-Us-Facebook
Interested in advertising with AviTrader?

Tamar Jorssen
Vice President Sales & Business Development
Email: tamar.jorssen@avitrader.com
Phone: +1 (788) 213 8543
Tamar