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Wednesday, September 15th, 2021

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An optimistic Boeing raises jet demand forecast based on recovery from COVID-19

Boeing Co, the North American planemaker has amended its long-term forecast for jet demand as it prepares for a major growth in both travel demand and also military services. This forecast comes despite the fact that industrial delays and ongoing problems with the 737MAX persist. Boeing forecast 43,610 commercial jet deliveries over the next 20 years, worth US$7.2 trillion, an increase of 500 units from the 43,110 projected a year ago. On a shorter 10-year view, which is more sensitive to the severe fallout on airlines from the COVID-19 pandemic, Boeing sees 19,330 deliveries, up from last year’s forecast of 18,350. The 10-year projection is 6% shy of the forecast it published in 2019, but the drop from pre-crisis levels has narrowed from 11% a year ago.

“One of the strongest reasons for confidence is how quickly we have seen a bounce-back in domestic travel in the last 12 months,” Boeing Chief Strategy Officer Marc Allen told reporters. According to Reuters news agency, Boeing sees domestic flying at pre-crisis levels in 2022 followed by regional traffic in 2023 and international in 2024. Demand for airliners is seen as a bellwether for the wider economy. Boeing raised its assumption for average annual global economic growth to 2.7% from 2.5% from last year’s forecast.

Boeing and other planemakers are predicting that environmental pressure and COVID-19 will accelerate the retirement of jets, leaving room for new planes in the market. But several analysts have raised concerns about the unpredictable spread of coronavirus variants and ongoing travel restrictions, even as vaccination rates steadily increase. Boeing’s forecast for annual passenger traffic growth was unchanged at 4%, although the growth rate has edged lower since 2015 from the once reliable 5% as a record aviation boom peaked. Over the next decade, Boeing sees demand for US$9 trillion of goods and services in the full array of markets it operates in, from freighters to fighters, up from $8.7 trillion a year ago. Its defense and space forecast is flat at US$2.6 trillion.

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AAR enters exclusive distribution agreement with Arkwin Industries

AAR a provider of aviation services to commercial and government operators, MROs and OEMs, has signed an exclusive distribution agreement with Arkwin Industries. The agreement covers Arkwin’s broad line of engine actuation and commercial aviation products for the commercial aviation aftermarket and is effective as of October 1, 2021.

“We are excited to partner with AAR as our new aftermarket partner for our commercial aviation business,” said Kristian Norheim, Arkwin Vice President of Sales & Marketing. “We are confident that Arkwin’s realignment of aftermarket support capabilities using AAR will allow Arkwin to more effectively support our global customer base.”

Avia Solutions Group enters strategic €300 million partnership with Certares

Avia Solutions Group has entered a strategic partnership with Certares Management (Certares), a US-based investment specialist dedicated to the travel, tourism and hospitality sectors, in which Certares will provide a €300 million structured equity investment.

The investment will help enable the next phase of Avia Solutions Group’s growth plan for services in passenger and cargo aviation, maintenance and engineering, crew training, ground handling and logistics. Avia Solutions Group intends to use the net proceeds from this offering for strategic acquisitions, capital expenditures and general corporate purpose. The partnership with Certares will provide access to Certares’s complementary expertise and industry network as well as add new members to ASG Board that will further strengthen the governance of the organisation

Tom Klein, Senior Managing Director of Certares said: “Avia Solutions Group has built itself into a premier provider of aerospace services. Certares’s investment will support ASG’s growth and consolidation strategy in the aerospace services sector where they have developed both quality and scale advantages. The management team’s track record of building leading market positions in the aerospace services sector as well as ASG’s broad geographic footprint, synergistic service offering and proven ability to source and integrate accretive acquisitions make them a perfect partner for Certares. We look forward to partnering with Avia Solutions Group to grow and geographically expand their leadership positions.”

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Bombardier introduces the new Challenger 3500 aircraft

Bombardier has presented the new, sustainability designed Challenger 3500 aircraft. The latest evolution of Bombardier’s very successful Challenger platform was introduced to the market during an exclusive celebration in Montréal, Canada, and through a worldwide virtual launch.  

The next-generation Challenger 3500 aircraft, the evolution of the Challenger 350 aircraft, introduces a redesigned interior with intelligent and sustainably minded cabin features crafted to combine comfort with function. Further elevating the passenger experience, Bombardier’s exclusive and patented Nuage seat is included in the aircraft’s standard configuration – the first time a seat of this calibre is available in the super mid-size segment. As part of an overall focus on passenger wellness, this new business jet will provide a reduced cabin altitude of 4,850 ft at 41,000 ft, representing a 31% improvement compared to its predecessor.

The Challenger 3500 aircraft also introduces several innovative technological features, such as the industry’s first voice-controlled cabin to manage lighting, temperature and entertainment systems, the first wireless chargers throughout the cabin and the only 24-inch, 4K display in its class. In the cockpit, Bombardier introduces a standard-equipped autothrottle system to the Challenger 3500 flight deck, which offers the most baseline features in its class. This new business jet is expected to enter service in the second half of 2022.

Lufthansa Technik extends engine services collaboration with Rossiya Airlines

Lufthansa Technik has contracted additional engine shop visits from Russian carrier Rossiya Airlines. Until mid-2022, the company will overhaul four CFM56-5B engines at its engine shop in Hamburg, Germany.

"Lufthansa Technik's offer for the supply of life-limited parts as well as its recommendations for work scope planning and extensive warranty conditions convinced us to entrust our German partner with the overhaul of our CFM56-5B-engines," said Sergey Starikov, official representative of Rossiya Airlines.

Lufthansa Technik has been providing engine services to Rossiya Airlines since 2019, originally for the CF6-80 engine. Meanwhile, four engines of this type have been overhauled.

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Heston MRO extends MRO services into Europe

Heston MRO has extended its presence into Europe. The newly established subsidiary, Heston MRO Europe, will start immediate offering of Components Support and Asset Management services to airlines and asset owners. The company is planned to operate local European warehouses and have AOG support and logistics teams located next to its European customers and suppliers.

‘Heston MRO realises that the pace of aviation recovery varies significantly between different regions’, comments Asta Zirlyte, CEO of Heston MRO. ‘It has always been in our plans to expand geographically beyond our home region in Australasia, following the actual needs of airline customers and asset owners. Faster post-Covid recovery in the Northern Hemisphere repositioned our strategic goals and accelerated that decision. We have established our presence in Europe to capture the local MRO opportunities driven by the recovering travel.’

Atlas Air and DHL Express extend agreements for 20 Freighters

Atlas Air a subsidiary of Atlas Air Worldwide Holdings has announced it has entered into contract extensions with DHL Express to continue operating 20 freighter aircraft in support of their fast-growing express and e-commerce markets.

These agreements build on the long-standing strategic partnership between Atlas Air Worldwide and DHL, which began in 2008 and included DHL acquiring 49% of AAWW’s subsidiary, Polar Air Cargo, as well as a long-term agreement for six dedicated 747-400Fs to operate on key Trans-Pacific routes.

The partnership has grown significantly over the years, and under these extended agreements, Atlas Air will continue to operate four different aircraft platforms for DHL Express, including:
  • Six Boeing 747-8 freighters
  • Two Boeing 747-400 freighters
  • Eight Boeing 777-200 freighters
  • Four Boeing 767-300 freighters
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AJW Group launches AJW Technique Interiors

AJW has signed a 10-year partnership agreement with the largest seat cover manufacturing facility in Europe. AJW joins forces with Autostop Aviation, the producers of SkyLeather®, the revolutionary synthetic leather for airlines, designed by the automotive industry, to offer this world-class product to its global customer base.

SkyLeather®, available in any colour and grain, is a new cost-effective, lightweight, and unparalleled product boasting advanced durability, soft to touch, antimicrobial and, with easy clean technology. The Polyurethane synthetic leather is both vegan and eco-friendly.

Royal Aero delivers the first of six B737-700 aircraft

Royal Aero has announced the delivery in Roswell, New Mexico of the first of six B737-
700 aircraft from COPA Airlines, Panama. The serviceable life of the CFM56-7B engines will be utilised and the component parts recycled from the airframe. Royal Aero thus ensures that aircraft that would otherwise be parked for the final time fly longer. Fewer new aircraft go into production, which reduces the carbon footprint of aviation.

Royal Aero has transacted 24 aircraft and engine trades since the beginning of Covid and this acquisition will be an additional 18 assets to be traded in 2021. Royal Aero operates with syndicated finance provided by Commerzbank, Postbank, Raiffeisenlandesbank Oberösterreich and BTV from Tirol.

Nasmyth Group appoints Stuart Fyfe as Chief Financial Officer

Nasmyth Group has appointed Stuart Fyfe as the Group’s new Chief Financial Officer.

Stuart has a wealth of experience having spent the past 6 years as Group Financial Director for an international company, managing a portfolio of brands which develop, design, install, service, maintain and manufacture products and solutions for the HVAC sector. As part of a successful two-man Executive Leadership Team where they profitability doubled the size of the business through acquisition and organic growth, Stuart led the International Finance, HR and IT Teams delivering strong and effective corporate governance in order to enhance performance and manage business risk.

Peter Smith, Chairman and CEO of Nasmyth Group, commented: “The team look forward to working with Stuart as we continue to grow Nasmyth Group internationally especially across the USA, Canada and the Asia-Pacific.”
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Tamar Jorssen
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Tamar