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Friday, August 20th, 2021

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U.S. equity purchase of defense firm Ultra to be investigated by U.K. government

Britain has confirmed that it may well investigate possible national security risks that may result from the intended sale of Ultra Electronics (Ultra) for £2.6 billion (US$3.6 billion) to Cobham, a rival company which is owned by U.S. private equity firm, Advent. 

Ultra, which provides customers with torpedo and radar systems, plus additional defense communication equipment, counts both the British and U.S governments as its customers. However, when Cobham announced the intended acquisition of Ultra on Monday of this week, it pre-emptively set out comments intended to address concerns regarding potential national security issues.

“The UK is open for business, however foreign investment must not threaten our national security,” business minister Kwasi Kwarteng said on Wednesday, adding that he had asked Britain’s Competition and Markets Authority, a regulator, to prepare a report on the proposed transaction. The U.K. government has set a deadline of January 18, 2022, for submission of the report. Kwarteng also said he would seek to stop Ultra from disclosing sensitive information to Cobham about the goods or services it provides to the U.K. government and its armed forces.

Advent declined to comment and, according to Reuters news agency, instead referred to Cobham’s statement on Monday which included the offer of legally binding commitments on Ultra including safeguarding national security, maintaining a headquarters in Britain, and investing more in the country. Britain’s government said in July it was closely monitoring Cobham’s bid for Ultra.

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Jet Edge International to add 27 new aircraft to its fleet

After a record-setting first half of 2021, Jet Edge has announced the addition of 27 state-of-the-art aircraft to its AdvantEdge fleet. The Bombardier Challenger 300/350 (16) and Gulfstream G450 (11) aircraft will all be flying by the end of the year, bringing the total available aircraft for charter in the AdvantEdge fleet to 74 (38 Challengers and 36 Gulfstreams).

The new additions will have an average age of less than 10 years and will include new paint, interiors, and upgraded state of the art cabin technology systems. The cabins will include Gogo 4G streaming Wi-Fi, Bluetooth controlled sound systems, updated USB charging ports, HD Airshow, in-flight entertainment options, and more. The new deliveries started in earnest July of this year and will be delivered in its entirety by December 15.

Ann McManus joins TrueAero as Vice President of Talent Management

TrueAero (TrueAero) has announced the arrival of Ann McManus to its executive leadership team as Vice President of Talent Management.

McManus brings over 20 years of human resources development and leadership experience to the team, most recently with Dubai Aerospace Enterprise (DAE) and AWAS, where she resourced the business for growth, designed and implemented HR strategies, and supported the AWAS business through its sale to DAE.

McManus’s experience in the Aviation and Information Technology sectors make her uniquely suited to lead TrueAero’s efforts in recruiting and retaining top notch talent across the globe. She will report to TrueAero’s CFO, Bill Goss.

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IAI to establish passenger-to-freighter conversion site in Ethiopia

Israel Aerospace Industries (IAI) Aviation Group has signed an agreement with Ethiopian Airlines to establish a conversion site for Boeing 767-300 passenger aircraft. The new passenger-to-freighter conversion center, which will operate from the company’s maintenance center in Addis Ababa, will provide solutions for the rising demand for cargo aircraft of these models. The conversion line in Ethiopia will join existing conversion sites IAI operates at its campus in Ben Gurion International Airport and in Mexico.

Ethiopian Airlines' MRO Center is well-known and highly experienced. It is approved by the Ethiopian Civil Aviation Authority, the U.S. Federal Aviation Administration (FAA), and the European Aviation Safety Agency (EASA). The conversion site will provide solutions in the field of converting passenger aircraft to cargo configuration, aircraft maintenance and overhaul, staff training and guidance, as well as assistance in acquiring certification and licenses. The establishment of the center is a testament to IAI's growing impact around the world.

GA Telesis signs distribution agreement with WiN MS to supply wire network maintenance and monitoring equipment

GA Telesis (GAT) has signed an agreement with Paris-based WiN MS to be a global distributor of wire network maintenance and monitoring equipment. The equipment provides testing equipment for troubleshooting aircraft electrical wiring, HF/RF cable, and fiber optic systems.

The addition of WiN MS Aero Smart-R, Aero HD, and Aer’Optic maintenance kits makes wire troubleshooting quick and easy, with instant fault location, for any aviation and space application on the line or in the hangar. This partnership is the latest addition to the growing offerings of GA Telesis’ Tarmac Solutions team to supply airlines and MROs with specialized tooling to maintain and support their fleets.

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NAC delivers one ATR 72-600 aircraft on lease to Windrose Aviation Company

Nordic Aviation Capital (NAC) has delivered one ATR 72-600 aircraft, MSN 1222, to Windrose Aviation Company on lease.

Ukrainian carrier Windrose Aviation Company was founded in 2003. In 2007, the airline received an operator's certificate and began operating charter flights under the brand name "Windrose Airlines". Today Windrose is one of the leading companies of tourist and domestic air traffic in Ukraine.

BOC Aviation posts first half 2021 net income of US$254 million

BOC Aviation has announced its unaudited results for the six months ended June 30, 2021. The company reported net profit after tax (NPAT) of US$254 million for the first half of 2021. Profitability has improved since the second half of 2020, as the earnings and cash flow outlook improved for most of its airline customers, particularly in China, Europe and U.S.A.

During the six months ended June 2021, the company generated positive operating cash flow net of interest expenses of US$557 million and ended the half year with a record US$5.8 billion in available liquidity. The Board of Directors approved a distribution of US$0.1098 per share by way of interim dividend, which represents 30% of its NPAT in the first half of 2021 and is the same proportion of NPAT that the company distributed as an interim dividend in prior years.

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In July Domodedovo Airport served 2.7 million passengers

Moscow Domodedovo Airport summed up the results of its operational activities in July 2021. The passenger traffic of the air hub amounted to 2.7 million people. The largest increase in traffic was fixed to Sochi, Simferopol, Kaliningrad, Anapa and Gelendzhik – a 76% year-to-year increase compared to 2019. On domestic flights, the airport served almost 2.2 million people – 29% more than in the same period 2019.

The most popular destinations inside Russia are Simferopol, Sochi, Anapa, Saint Petersburg and Kaliningrad. The passenger traffic on these destinations amounted to 891 thousand people that is 1.5 times higher than in 2019.

On international flights, in July Domodedovo airport served 523 thousand passengers. The partner airlines of the air hub increased the frequency of flights and opened flights to new cities in the middle of summer. NordStar launched two weekly flights to Zakynthos. SriLankan Airlines resumed a unique destination for Domodedovo passengers – Colombo. S7 Airlines started to fly to Burgas. Ural Airlines launched a charter program to Croatia and Aegean Airlines increased the number of flights to Greece.
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Tamar Jorssen
Vice President Sales & Business Development
Email: tamar.jorssen@avitrader.com
Phone: +1 (788) 213 8543
Tamar