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Friday, July 16th, 2021

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Sidney Airport Holdings rejects US$16.6bn offer from Sydney Aviation Alliance

The board of Sydney Airport Holdings has opted to reject last week’s offer of US$16.6 billion for Sydney Airport, which represented a 42% premium on the pandemic-affected value of the company. The offer came from the Sydney Aviation Alliance, a consortium comprising IFM Investors, QSuper, and Global Infrastructure Partners.

Sydney Airport Holdings said on Thursday that it recognized its share price was likely to trade below the consortium’s indicative price in the short-term but said it would only accept a buyout deal that would “deliver and recognize appropriate long-term value.”

Currently, low interest rates are forcing investment and pension funds to seek higher yields, so the market is primed for a flurry of interest in similar infrastructure enterprises. If successful, the offer would have brought Sydney Airport in line with Australia’s other major airports which are all owned by consortia of infrastructure investors, primarily pension funds. Sydney Airport Holdings is currently Australia’s only listed airport operator. Any successful sale of the airport would require approval from the Foreign Investment Review Board and Australia’s competition regulator. While IFM Investors and QSuper are Australian companies, Global Infrastructure Partners is North American.

In addition, IFM Investors has holdings in other major Australian airports and would likely have to sell down a portion of those stakes due to cross-ownership rules. According to Bloomberg News, a consortium led by Macquarie Group was considering a rival offer, or it might consider joining the Sydney Aviation Alliance.    

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ILS appoints aviation industry aftermarket veteran Rob Suhs

ILS (Inventory Locator Service), a leading digital marketplace and business intelligence services provider for the aviation industry, is announcing the strategic hire of its new global sales leader, Robert Suhs.

Following another successful annual virtual CONNECT user conference ILS is experiencing continued global business momentum for its marketplace and intelligence solutions. “I am excited to have a seasoned aviation aftermarket industry executive like Rob joining our leadership team as VP of Global Sales. Especially this year in which the recovery has set in, combined with the continued release of new solutions, services and partnership announcements, timing couldn’t be better for ILS to add another leader to the team to support our global growth and community objectives” says John Herrman, Executive Vice President and General Manager at ILS.

Suhs is a seasoned business leader with over 20 years of experience in guiding and managing high-growth sales teams in the commercial aerospace industry. At ILS, he will be responsible for the global sales strategy, execution, and revenue growth of the company. “As an aviation aftermarket stakeholder, my teams have relied on ILS as the most and reliable dynamic marketplace, in addition to its industry leading market intelligence capabilities integrated with our supply chain. I not only look forward to contributing to an organization I have supported for many years as an advisory board member, as well as an exceptionally well positioned business that has ample growth potential” said Rob Suhs.

Prior to joining ILS, Suhs was the Vice President of Sales and Marketing at Magellan Aviation Group, a leading global supplier of aircraft components and services that specializes in engine leasing and trading, for more than nine years.

Before joining Magellan, Rob served as a Sales Executive for Delta Air Lines TechOps Division, and held various management positions at a number of aircraft maintenance, repair, and overhaul (MRO) companies including Honeywell Aerospace, Sermatech International and PAS Technologies.

Lufthansa Technik to offer component support for Smartavia's latest aircraft

Russian airline Smartavia is continuing its trustful partnership with Lufthansa Technik through a multi-year agreement covering extensive component services (Total Component Support - TCS®). This new contract governs supply for Smartavia's latest fleet of Airbus A320neo aircraft over a period of six years. Service has started in May 2021, the contract includes up to ten aircraft that Smartavia currently plans to operate.

With this Total Component Support (TCS®) agreement, the carrier benefits from an individual supply concept that enables short and fast transport routes. The services covered by the contract are customized to fulfill the requirements of Smartavia. A pool of homebase stock for the Airbus A320neo fleet has been set up at Pulkovo Airport (LED) in St. Petersburg. Comprehensive logistics support by Lufthansa Technik offers Smartavia different flexible options that are particularly useful as long as the coronavirus-pandemic still affects air transport.

Lufthansa Technik already provides component support to Smartavia's fleet of Boeing 737NG aircraft. In 2020, Lufthansa Technik has also concluded an agreement for engine services with the Russian carrier.

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Elix Aviation creates new Asset Management business

Elix Aviation, the international regional aircraft leasing company, has created a new business division to focus on Asset Management services. This pivotal move will allow the new business to leverage its current platform’s expertise and experience.

According to Elix Aviation COO, John Moore, “the new business, backed by our team of experienced industry professionals, will focus on providing key services to investors and financial institutions who, to date, have had limited options to choose from to efficiently manage aircraft investments and risks.”

Building on its current managed portfolios, Elix Aviation can now offer services to a wide array of clients, including airlines, aircraft owners, potential investors and debt and equity providers.  Services will be provided across all aspects of the asset ownership cycle, from deal origination, acquisition and leasing through to end-of-life solutions. With an experienced global team and deep industry contacts, the new business brings a competitive solution to the marketplace. 

Elix Aviation was initially established with a focus on the turboprop market segment, where leasing was historically underrepresented, and which requires a specific focus and set of skills not common to the larger aircraft segment. It represents market dynamics with different risk and return profiles. Elix Aviation has built a highly capable and experienced All-Weather leasing platform managing its owned regional aircraft portfolio.

Rusada signs up Spirit AeroSystems for ENVISION

Rusada’s ENVISION software has been chosen by Spirit AeroSystems to manage its growing maintenance, repair, and overhaul activities.

ENVISION will be used by Spirit AeroSystems (Spirit) to support its maintenance facilities in Wichita and Dallas where it offers component MRO, on-wing repair, and aftermarket engineering services across an array of aircraft.

Spirit has signed up for eight of ENVISION’s modules, as well as its recently released maintenance execution app, ENVISION Tasks. The software will be deployed by Rusada’s North America Client Services team, who will work closely with various stakeholders at Spirit to ensure a successful rollout.

The agreement further expands Rusada’s presence in North America, where it already supports a number of operators and maintenance providers, as well as several government entities.

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GA Telesis concludes distribution agreement with Honeywell for Embraer E-Jet and E-Jet E2 avionics

GA Telesis (GAT) has announced a further expansion of its global distribution agreements with Honeywell as the exclusive provider of avionics components for Embraer E-Jet and E-Jet E2 aircraft. This latest agreement with Honeywell is another example of the strong relationship with GA Telesis’ Flight Solutions Group (FSG) in support of the new aviation parts market, first announced in October 2020 to distribute the CFM56-5B variable bleed valve stop mechanism.

The seven-year E-Jet agreement, with an option for a five-year extension, is effective immediately. This new product line will permit FSG to supply a large suite of avionics for the Embraer E-Jet / E-Jet E2 family globally.

Embraer's Eve Urban Air Mobility and EDP sign MoU to cooperate on development of eVTOL infrastructure

Embraer´s Eve Urban Air Mobility Solutions (Eve) signed a Memorandum of Understanding (MoU) with the Brazilian operation of EDP, a multinational energy leader, to collaborate on Urban Air Mobility (UAM). Both companies will cooperate on the research of operational models for charging infrastructure solutions needed for electric vertical takeoff and landing (eVTOL) aircraft to begin operations.

Some of the subjects covered in the collaborative research will be the evolution of battery technology and charging systems, management of charging points, and payment systems. Together, the companies will evaluate the development of a viable UAM energy infrastructure following the analysis results.

"Our collaboration with EDP is an important building block for Eve as we work to bring our zero-emission eVTOL to market. Energy analysis and infrastructure solutions are incredibly important in contributing to carbon reduction and ensuring we are meeting industry goals. For us at Eve, this is the next step in preparing the UAM ecosystem for the future of urban flight," said Andre Stein, President & CEO of Eve.

Magma Aviation appoints Conor Brannigan as Deputy CEO

Magma Aviation, the innovative air cargo solutions company, has appointed Conor Brannigan, air cargo expert with over 15 years industry experience, as Deputy CEO.

Brannigan joins the business following two years at Cargolux based in Luxemburg in a senior role as Director Strategic Alliances and Market Development. Previously to that, Conor spent almost six years in Abu Dhabi, United Arab Emirates at Etihad, in a global cargo position. His career in aviation began at Aer Lingus in 2006 where he progressed to Cargo Business Analyst. His experience prepares him well for his new role at Magma Aviation based at the London Gatwick headquarters.
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Tamar Jorssen
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Email: tamar.jorssen@avitrader.com
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Tamar