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Wednesday, April 21st, 2021

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Stobart Air sold for an initial £2.00 to 26-year-old blockchain entrepreneur

Having bought back Stobart Air from Bankruptcy in April last year, Stobart Group, now renamed Esken, has agreed to sell the airline to Ettyl for an initial, token £2.00.

Ettyl is an Isle of Man-based startup whose CEO is 26-year-old serial entrepreneur Jason Scales who runs a blockchain and technology incubator called The Hubb. In its sole filing to Companies House dated May 2020, Ettyl reported holding capital of £100.00. The agreement is relatively complicated, with the sale price being a token £2.00 and the value of cash on the balance sheet at completion, plus up to £7.5 million dependent on certain trigger events, until July 2024. The deal also involves the sale of Carlisle Lake District Airport.

Currently, Stobart Air has a contract with Aer Lingus which involves operating a fleet of 13 aircraft which service flights from Dublin, Cork, Shannon, Kerry and Donegal. However, this contract ends in December 2022 and Emerald Airlines will take over operations from 2023. Scales has confirmed it would be “business as usual” and that the intention is to retain all staff, including 480 jobs at Stobart Air. Scales added that: “Ettyl sees significant opportunities for increased regional connectivity as economies recover from the impacts caused by the pandemic and return to stability across the U.K. and Ireland.”

David Shearer, Esken’s chairman, said the sale of Stobart Air had been “a difficult and protracted process” because of the impact of the pandemic on air travel. He said: “Stobart Air remains a critical part of connectivity between Ireland and the U.K. and I am pleased that we have managed to secure the future of that business and its 480 staff under a new owner with ambitions to grow its network of routes. The sale of the airline presents a significantly better financial outcome than that resulting from a closure.” (£1.00 = US$1.39 at time of publication.)

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Boeing's Board of Directors extends retirement age for CEO Dave Calhoun, CFO Greg Smith to retire

Boeing's Board of Directors has extended the company's age-65 standard retirement to age 70 for President and Chief Executive Officer (CEO) David L. Calhoun. Calhoun, 64, has served as Boeing's President and CEO since Jan. 13, 2020. While the Board's action extends the mandatory retirement age for Calhoun to April 1, 2028, there is no fixed term associated with his employment.

Boeing also announced that Executive Vice President, Enterprise Operations and Chief Financial Officer Gregory D. Smith has decided to retire from the company, effective July 9, 2021. Boeing is conducting a search for Smith's successor.

Smith was appointed chief financial officer in 2011 and later served in expanded roles as the executive vice president of Finance, Enterprise Performance and Strategy, and more recently executive vice president of Enterprise Operations, Finance and Sustainability. He served as the company's interim CEO, immediately preceding Calhoun. Prior to his appointment as CFO, he was corporate controller and vice president of Finance, serving as the company's principal interface with the board of directors' audit committee to ensure regulatory compliance.

GATES expands CFM International MRO partnership to support LEAP-1A/-1B engines

GA Telesis Engine Services (GATES) has signed an agreement with CFM International (CFM) to provide MRO support for LEAP-1A/-1B engines. Through this agreement, GATES will have the rights and licenses to obtain airworthiness authority certification for MRO services on the LEAP-1A, which powers the Airbus A320neo Family, and LEAP-1B, the exclusive powerplant for the Boeing 737 MAX aircraft.

GATES has a longstanding relationship with CFM as a licensed overhaul shop for CFM56-5B/-7B engines. The latest agreement builds on that partnership, expanding the suite of MRO offerings to LEAP engines to better support engine maintenance requirements of new-generation narrow-body aircraft. GATES will commence preparations for implementing the LEAP program at its facility in Helsinki, Finland, including reviewing technical documents, employee training, and obtaining necessary aviation authority approvals

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CSAT to provide Boeing 737 base maintenance for LOT Polish Airlines

Czech Airlines Technics (CSAT) will provide customers with Boeing 737 MAX maintenance. Thanks to the company’s new authorization received from the Civil Aviation Authority of the Czech Republic, CSAT has expanded the offer of services provided by its base maintenance division. Overhauls of the most modern version of this aircraft type are thus to be provided in Czech MRO’s hangar at Václav Havel Airport Prague. LOT Polish Airlines became the first B737 MAX customer in the middle of April 2021.

LOT Polish Airlines is the first customer with whom CSAT has entered into a cooperation agreement after obtaining the new authorization. Since mid-April 2021, CSAT mechanics have been performing the Boeing 737-8 MAX (SP-LVB registration) overhaul for the Polish national carrier. This is the first overhaul of this type of aircraft performed in the hangar F in Prague. In addition, the expansion of the base maintenance service portfolio will promote long-term cooperation not only with LOT, but also with other customers from the segment of air carriers and leasing companies.

Bishill Holdings acquires Aeropeople

As of April 19, Aeropeople has been acquired by Bishill Holdings Limited, who will be taking ownership of the business from Marshall Aerospace and Defence Group (MADG). Aeropeople is a market leader in specialist aerospace recruitment solutions, also providing expertise and manpower across the aviation, engineering, motorsport, automotive and defence industries.

Bishill Holdings is run by Kevan Bishop who was founder of Aeropeople back in 2001. He spearheaded the successful growth of Aeropeople for over 17 years from 2001 to 2018, and he will lead Aeropeople as CEO.

The change in ownership will also give MADG the opportunity to refocus its resources and invest back into its core business. Aeropeople will continue with business as usual in supporting MADG with the provision of contractors and CAMO services in the same way it does today.

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Dwayne Chandler joins Stevens Aerospace as Director of Avionics Sales

Stevens Aerospace and Defense Systems has reported that Dwayne Chandler has joined the team as Director of Avionics Sales. Chandler brings more than thirty years of hands-on avionics experience including Avionics Technician at Timco, Avionics Install Crew Chief and Sales Manager at Landmark Aviation, and most recently serving as Avionics Sales Manager at Constant Aviation.

Chandler will interface with both the Stevens corporate and military sales teams, while working closely with each of Stevens’ four avionics locations, as well as with the development of Stevens’ STC programs. In addition, he will build on close relationships with the key OEMs that are driving new innovations in avionics.

STS signs five-year services contract with Royal Air Force to service fleet of C17 aircraft

STS Aviation Services (STS) has signed a five-year contract to provide fuel tank repair services for the Royal Air Force’s fleet of C17 military transport aircraft.

The bulk of work for this program will take place at RAF Brize Norton in Oxfordshire and will be carried out by an experienced team of STS fuel tank specialists based in the United Kingdom.

“Having expert aircraft maintenance personnel close to RAF Brize Norton is a huge strategic advantage for all parties involved,” said Rob Gray, Business Development Manager for STS Aviation Services. “Our mobile technicians are known internally as a ‘quick reactionary force,’ which means our existing engineers and aircraft fuel tank specialists will always be accessible when maintenance needs arise on the C17 fleet.”

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Aventure Aviation acquires two Boeing 737NG airframes

Aventure Aviation has acquired two Boeing 737NG airframes, MSN 33783 and MSN 33790, retired after flying with Aeromexico for 16 and 17 years respectively, since their delivery. The teardown is currently underway in Marana, Arizona. Parts will be relocated to Aventure's Atlanta warehouse, joining stock from another recently dismantled 737NG, MSN 28497.
The two aircraft were placed in storage a few months ago and are in excellent condition. The landing gear was overhauled in 2019 and there is plenty of green time remaining on component parts.

Aventure is considering the acquisition of several other Airbus, Boeing, Embraer and Bombardier aircraft, focusing on end-of-life aircraft for dismantling and conversion purposes.
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Tamar Jorssen
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Email: tamar.jorssen@avitrader.com
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Tamar