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

LATEST NEWS

Wednesday, April 28th, 2021

brought to you by
AJW-Sponsor

Spirit AeroSystems signs joint venture agreement with Evergreen Aviation Technology Corporation

Spirit AeroSystems has announced a planned expansion of its aftermarket presence in the Asia-Pacific region by signing a joint venture agreement with Evergreen Aviation Technologies Corporation (EGAT). The new agreement is expected to complement Spirit's recent acquisition of Applied Aerodynamics and last year's acquisition of select Bombardier assets, and further strengthen its global maintenance, repair and overhaul (MRO) capabilities.

Under the joint venture agreement, Spirit and EGAT will form a new company, Spirit Evergreen Aftermarket Solutions (SEAS), and will transfer repair capabilities to SEAS, increasing manufacturing expertise and services to meet growing fleet demands in the region.

Previously, Spirit entered into a multi-year agreement with EGAT in September 2020 in which Spirit provided maintenance services in the Taiwan facility on products the aerostructures company manufactures, including the 777 GE90/Trent800 nacelle, 737 CFM56-7B thrust reverser, and flight control surfaces along with broader nacelle MRO services on the CF6 powered aircraft and A320. By enhancing this existing commercial agreement with a joint venture agreement, Spirit and EGAT will continue working to expand capabilities to better service customers in the region.

CCT_08

Embraer delivers nine commercial and 13 executive jets in first-quarter

Embraer has delivered a total of 22 jets in the first quarter of 2021, of which nine were commercial aircraft and 13 were executive jets (10 light and three large). As of March 31, the firm order backlog totaled US$14.2 billion. 

During the first-quarter, KLM Cityhopper, the regional subsidiary of KLM Royal Dutch Airlines, received its first E195-E2 jet. This first E2 delivery to KLM, and lessor ICBC Aviation Leasing, elevated the total number of Embraer jets in the KLM Cityhopper fleet to 50 aircraft.

In the same period, Air Peace, Nigeria and West Africa’s largest airline took delivery of its first E195-E2 aircraft. Air Peace is the launch customer in Africa for the E2. The airline is also the global launch customer for Embraer’s innovative premium staggered seating design.

Also, during the first quarter, Embraer delivered the first conversion of a Legacy 450 to a Praetor 500 jet for AirSprint Private Aviation. The Canadian fractional ownership company has another Legacy 450 scheduled to convert to a Praetor 500 this year, in addition to the delivery of a brand-new Praetor 500, also expected in 2021. With these additions, AirSprint will have three Praetor 500s in its fleet, and a total of nine Embraer aircraft.

MAG_06

Honeywell and GKN Aerospace sign license- and parts supply agreement for F-35 wheels and brakes

Honeywell and GKN Aerospace’s Fokker Landing Gear business in the Netherlands have signed a license and parts supply agreement for an authorized service center for Honeywell’s wheels and brakes on the F-35 military fighter jet. In 2016, GKN Aerospace’s Fokker Landing Gear was chosen by the F-35 Joint Program Office (JPO) to maintain and service landing gear components for the European F-35 fleet.

The 10-year, nonexclusive agreement between Honeywell and GKN Aerospace will cover the entire European market and bring significant benefits to both current and future owners and operators of the F-35. This agreement will substantially reduce the logistical footprint of supporting the regional fleet with a Netherlands-based depot, thus resulting in a lower-cost of ownership for F-35 operators.

As part of the license agreement, GKN Aerospace will provide repair, overhaul and maintenance of Honeywell’s wheels and brakes covering all variants of the F-35 jet.

ROY_04

Panasonic Avionics names Andrew Masson Vice President of Product & Portfolio Management

Panasonic Avionics has announced the appointment of Andrew Masson as Vice President of Product & Portfolio Management.

Masson joins Panasonic from Adient Aerospace, Boeing’s aircraft seat joint venture with Adient, where he served as CEO. At Panasonic, he will lead its global Product & Portfolio Management team and guide the company’s product and services strategy to deliver innovations and value to customers. Masson will improve and expand customer-focused product management processes and manage development and execution across the product lifecycle for Panasonic’s market-leading IFEC products, digital solutions and aftermarket services.

He will report to Ken Sain, Chief Executive Officer of Panasonic Avionics.

AFI KLM E&M unveils MRO services for A220

AFI KLM E&M has developed and launched new A220 maintenance solutions created for operators of the Airbus A220 aircraft.

With the first Air France A220 due to fly at the end of 2021, AFI KLM E&M has finalized its supply-chain and industrial development program, positioning itself as a major player in the maintenance of this new aircraft, and is ready to support operators of this type. AFI KLM E&M has already designed and is able to market a complete nose-to-tail components support for A220 operators and has acquired credibility from its expertise and adaptiveness, building long-term win-win partnerships and competitive agreements with OEMs to support the market. The nose-to-tail industrial solutions enable the MRO to deliver unique quality of service to its customers.

PRW_06

Finnair increases savings target to €170 million of permanent cost base reductions by 2022 onwards

On May 20, 2020, Finnair has announced that it was targeting nearly €80 million in permanent cost base reductions by 2022, compared to 2019 levels. The company updated the same target in its announcement on August 25, 2020 by increasing it to €100 million and updated it again on October 28, 2020 to €140 million.

Finnair has made good progress in the cost savings program and will reach this target ahead of schedule. At the same time, it has identified new savings opportunities. As a result, Finnair has raised its savings target by €30 million, increasing its previous expectations for a permanent reduction in its cost base to €170 million.

Despite the updated target, further reductions are still sought in all cost categories. As previously stated, they include savings in such areas as real estate, aircraft leasing, IT, sales and distribution and administration costs, as well as compensation structures. The company will further continue streamlining its organization and operations and the digitalization and automation of its customer processes. Additionally, it will remain focused on renegotiating its supplier and partner agreements.

In conjunction with the cost savings program, the company completed the co-determination negotiations in the latter half of 2020 and the resulting global reduction in jobs was 600. When retirements and other attrition are included, Finnair’s personnel declined by almost 1,100 compared to the beginning of 2020. Further, as part of the cost savings program, the company has concluded agreements with some of its employee groups targeting permanent cost savings. The employee groups committed to the permanent savings target are eligible to participate in an incentive plan, which rewards employees for successful rebuild efforts. Also, the indefinite as well as temporary layoffs resulting in temporary cost savings will be continued.

JTP_05

Werner Aero Services acquires two Embraer E-190 aircraft for teardown

Werner Aero Services, a leader in the aviation industry providing asset management and logistical solutions to airlines worldwide, has acquired two Embraer E-190 aircraft, MSN 118 and MSN 149 , last operated by Air Canada. The aircraft will be torn down immediately to support the demand from regional operators as they see their business picking up.

“We are excited to be nearing the end of the devastating pandemic that the world has suffered and are gearing up to meet the projected demand from our customers. The regional market is the first to recover and Werner is the first to be there. We are already seeing a significant increase in activities from our customers and are setting ourselves up to support them with just-in-time spares and engines. This is our first acquisition this year, as we continue to look for additional acquisitions of narrow-body and regional jet aircraft. We also look to partner up with airlines seeking logistical solutions leveraging our expertise and assets“ said Mike Cazaz, CEO of Werner Aero Services.
AviTrader_Weekly_Headline_News_Cover_2021-04-26

click here to download the latest PDF edition

MRO-2021-03 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