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Friday, February 18th, 2022

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SR Technics and Bamboo Airways sign MoU for MRO services

SR Technics has announced that it has signed an MoU for maintenance, repair and overhaul with Bamboo Airways at the Singapore Airshow 2022. The deal has been valued at US$60 million whereby the two companies will jointly work together to explore areas of cooperation including CFM56-5B engines, training services, also providing technical services and component services by STRADE, SR Technics’ brand for component services.

Commenting on the MoU signing SR Technics CEO Jean-Marc Lenz said: “We are thrilled to welcome Bamboo Airways as a new SR Technics customer and look forward to meeting and exceeding their expectations.I am pleased that with this MoU we will further support our commitment to provide best-in-class MRO services in the aviation world. We look forward to the future development of our partnership. This will impact the growth and strengthen Vietnam’s competitive position in serving the worldwide aviation MRO industry.”

“With the prestige and experience of SR Technics, we strongly believe the agreement with SR Technics' engines and other maintenance services for Bamboo Airways’ fleet will help enhance our operation capacity, service quality as well as competitiveness on potential international flight routes in the future." said Nguyen Khac Hai, Deputy General Director of Bamboo Airways.

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SIA Engineering Company opens new aircraft engine services facility

Mainboard-listed SIA Engineering Company Limited (SIAEC) has opened its new Aircraft Engine Services (AES) facility in Singapore to provide engine maintenance services to Safran Aircraft Engines (SAE). SIAEC, which invested approximately S$9.0 million to develop the facility, will provide Engine Quick Turn (QT) and modification embodiment services for both CFM LEAP-1A and LEAP-1B engines at this engine shop.

With a production gross floor area of approximately 20,935 ft², AES is equipped with the latest Engine QT processes, and state-of-the-art equipment and technology including the use of a Remote Guided Vehicle (RGV) for transporting engines, one of the first in the aviation industry. The facility can perform at least 60 QTs per year as well as on-site support and boroscope inspection services for the CFM LEAP -1A and -1B engines. In addition, AES has 50% more capacity to cope with surge demands.

Atlas Air and Cainiao expand partnership with addition of new Boeing 747-8 freighter

Atlas Air and Cainiao Network (Cainiao), the logistics arm of Alibaba Group, have announced the expansion of their strategic partnership by adding a new Boeing 747-8 Freighter under a long-term agreement to increase capacity on routes between China and the Americas.

This expansion builds upon Atlas Air’s partnership with Cainiao and the new aircraft will enter service for Cainiao in the second quarter of 2022, linking China with the United States, Brazil and Chile.

This Boeing 747-8F aircraft is among the last 747s ever to be produced by Boeing. As previously announced, Atlas Air has ordered the last four 747 production aircraft to capitalize on strong demand and deliver value for its customers, while also bolstering its commitment to environmental stewardship through the reduction of aircraft emissions, resource consumption and noise. 

The iconic Boeing 747 programme has been in operation for over 50-years and will continue to play a critical role in keeping global supply chains moving for decades to come.

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Embraer, Widerøe and Rolls-Royce to research innovative technologies for sustainable regional aircraft

Embraer, Widerøe and Rolls-Royce have announced plans to study a conceptual zero-emission regional aircraft. The 12-month cooperation study – in the context of pre-competitive research and development – will address passenger requirements to stay connected in a post COVID-19 world but do so sustainably and seeks to accelerate the knowledge of the technologies necessary for this transition. Such technologies will allow national governments to continue to support passenger mobility while reusing most of the existing infrastructure in a more sustainable way.

Advances in scientific research can make clean and renewable energy a major enabler of a new era of regional aviation and the three companies will share their combined in-depth knowledge of aircraft design, market demand, operations and propulsion solutions to further develop their understanding of zero-emission technologies and how they can be matured and applied to future regional aircraft. Among other topics, the study will cover a wide range of applications for new propulsion technologies to examine a range of potential solutions – including all-electric, hydrogen fuel cell or hydrogen fuelled gas turbine powered aircraft.

Singapore Airlines and Scoot sign 787 MRO agreement with Collins aerospace

Collins Aerospace has entered into a long-term MRO agreement with Singapore Airlines and Scoot, to support the Singapore Airlines Group fleet of 55 Boeing 787 aircraft. Through its FlightSense® programme, Collins will provide the airlines with full lifecycle support for high-performance pool access, maintenance services and reliability upgrades.

Products supported under the agreement include Collins’ air management systems, electric power generator and start systems, emergency power systems, fire suppression, sensors and lighting systems. The new agreement also extends Scoot’s current FlightSense programme with Collins, which was signed in 2014, to include the airline’s new 787 aircraft that will be delivered in 2023.

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EU Commission approves remaining €50 million of hybrid loan by the State of Finland to Finnair

Finnair and the State of Finland have signed an agreement on a hybrid loan of maximum €400 million to support Finnair. The decision was made by the Plenary Session of the Government on February 18, 2021. The arrangement has the approval of the EU Commission’s competition authority in line with the European Union’s state aid rules. The company also stated that of the credit limit, approximately €350 million can be used by Finnair based on the state aid decision made by the Commission on March 12, 2021, and that the remaining approximately €50-million-share will be brought to approval by the Commission at a later stage.

The Commission has now approved the remaining €50-million-share and, therefore, the entire amount of €400 million is available for Finnair to use. Finnair is able to access the funds, if its cash or equity position would drop below the limits that have been defined in the facility’s terms and conditions.  

Airbus Asia Training Centre inaugurates fourth full-flight A350 simulator

The Airbus Asia Training Centre (AATC) has inaugurated its fourth A350 Full-Flight Simulator (FFS). The addition consolidates AATC’s position as the largest Airbus-operated flight crew training centre in the company’s global network, with two A320, two A330, one A380 and four A350 simulators. AATC also hosts one ATR 72-600 FFS.

The focus on the A330, A350 and A380 reflects the popularity of Airbus wide-body aircraft in the Asia-Pacific region, with nearly 900 in service and around 220 currently on order for future delivery. AATC is a joint venture owned 55% by Airbus and 45% by Singapore Airlines (SIA). At almost 10,000 m² in size, the facility at Seletar Aerospace Park is part of the Airbus flight training network and serves the Asia-Pacific region and beyond. Since operations began in April 2016, AATC has successfully attracted 69 airline customers. AATC has the capacity to offer type rating and recurrent training courses for up to 10,000 trainees per year

Jazeera Airways returns to profitability in record time in 2021

Jazeera Airways has returned to profitability for the year 2021 (January – December), a period which continued to be affected by the COVID-19 pandemic and restrictions on travel, reporting a net profit of KD7.1 million (US$23.4m) for the year - up 126.8% from the previous year.

The earnings were supported by an increase of 48.2% in the number of passengers flown, which reached 1.0 million, while load factors increased by 3.9% to 66.8% and yield increased by 28.6% to KD73.9. Operating revenue for 2021 stood at KD80.4 million (US$265.3m), up 94.3%, and operating profit increased by 152.2% to KD10.8 million (US$35.6m). Jazeera maintained the positive performance in the last quarter (Q4) of the year with a net profit of KD7.0 million (US$23.1m) - a 164.6% increase from the same quarter of 2020. Operating revenue increased by 285.5% to KD33.1 million (US$109.23m) while operating profit increased by 204.3% to KD9.3 million (US$30.69m).
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