Friday, April 5th, 2019


Ethiopian government confirms that Flight 302 crashed despite pilots following Boeing’s guidance

Ethiopian authorities have released the preliminary findings into the crash of a Boeing 737 MAX 8 jet which crashed just after take-off on March 10, killing all 157 passengers and crew on board. It has been confirmed that the jet’s crew followed guidance provided by Boeing on how to fly the plane, also in emergency procedures, but had still failed to regain control of the aircraft. Ethiopian Airlines released a statement on Thursday saying the preliminary report "clearly showed" that the Flight 302 crew "followed the Boeing-recommended and FAA-approved emergency procedures."

Similarities between the flight pattern of Flight 302 and the doomed Lion Air Boeing 737 MAX 8, Flight 610, which crashed near Jakarta last year have seen the focus of attention placed on the Maneuvering Characteristics Augmentation System (MCAS) which is a software-based program intended to take over control of the MAX 8 if it senses that the jet is climbing at too rapid a rate and that there is potential for a stall. In both instances it is believed that a fault with sensors led to the submission of faulty data to the MCAS which responded by overriding the pilots and forcing the plane’s nose unnecessarily downward. In relation to the Ethiopian Airlines crash, it is understood that having overridden the MCAS, the pilots then re-engaged it up to a possible four times.

As the plane’s manufacturer, Boeing is taking a more pragmatic approach and concentrating on a software update which was successfully trialed this week which will avoid the potential for a similar situation occurring as is suspected with the two downed jets. In the meantime, additional attention is being drawn to the Federal Aviation Administration (FAA) and its relationship with Boeing with regard to certification of the 737 MAX 8 and, according to CBS News on March 25, the U.S. Department of Transportation will establish a "special committee" of outside experts to independently review the FAA's certification of the Boeing 737 Max, amid questions that have arisen
about the relationship between Boeing and the FAA. The committee's findings and recommendations will be submitted to Transportation Secretary Elaine Chao and the FAA administrator.


AJW Group signs Pool Access Agreement with TAG Aviation for Boeing 757 aircraft

AJW Group has signed a Pool Access Agreement with private and business jet aviation services provider, TAG Aviation.

The contract covers TAG Aviation's Boeing 757 aircraft, which is operated in a VIP configuration offering high-end, round-the-world tours.

The news marks the extension of an existing relationship between TAG Aviation and AJW Group, with the lease of a flyaway kit already in place.

Renaming of FAG Aerospace GmbH & Co. KG

The Schaeffler Group is re-shaping its global corporate presentation and branding worldwide based on the Schaeffler corporate brand. The standardization of the corporate presentation is taking place as part of the Global Branding project, one of the initiatives that make up the program for the future “Agenda 4 plus One” with which Schaeffler is implementing its “Mobility for tomorrow”
strategy. By the end of the year, the unification will be completed at all of Schaeffler’s approximately 170 locations worldwide.

As a consequence of the changeover, the company names will also be changed accordingly. While individual Aerospace entities in Canada, Singapore, and the U.S. were already renamed in the last months, the German entity followed suit beginning of April. In this context, FAG Aerospace GmbH & Co. KG has been renamed Schaeffler Aerospace Germany GmbH & Co. KG.

Schaeffler Aerospace entities manufacture high-precision special bearing systems and precision components for aircraft engines, helicopters, the European Ariane launch vehicle, and for special fields of application with high performance requirements. Their worldwide customer base includes all well-known manufacturers of engines, helicopters, turbo pumps, and space systems.

SR Technics

Qantas Freight to lease two Boeing 747-8Fs

Qantas Freight will lease two Boeing 747-8F freighter aircraft, offering greater capacity and improved efficiency for its global freight customers.

The next-generation freighters will replace the current two Boeing 747-400F that are currently operated on Qantas’ behalf by Atlas Air and will be painted in Atlas livery. The 747-8F features a longer fuselage than the Boeing 747-400F, offering up to 20% more freight capacity with space for seven extra pallets.

Expected to commence services from late July 2019, the 747-8F freighters will carry cargo on Qantas Freight’s existing network between 10 key cargo hubs in Australia, China and the United States.*

*Subject to regulatory approval.

Liebherr Group achieves over €10 billion in annual turnover for the first time

The Liebherr Group notched up a turnover of €10,551 million in 2018, breaking through the €10 billion barrier for the first time in the company’s history. This represents an increase of €739 million, or 7.5 %, compared with the previous year.

The Liebherr Group achieved a net profit of €321 million in 2018, slightly above the previous year’s level. The operating result remained stable compared to the previous year. The financial result declined, mainly due to negative effects of currency movements.

The 2018 business year saw a significant increase in the workforce. At the end of the year, the Liebherr Group had a total of 46,169 employees worldwide. Compared to the previous year, this constituted an increase of 2,300.


airBaltic reports profit of €5.4 million in 2018

Latvian airline airBaltic continued its growth in 2018 and achieved strong financial results. According to the 2018 financial year, airBaltic achieved €400 million revenue, while net income grew by more than 40% compared to 2017, reaching €5.4 million. Martin Gauss, Chief Executive Officer of airBaltic commented: “For the sixth year in a row we are showing a strong track record on profitability. With exceeding €400 million revenue and 4 million passengers, we are ready for future growth with our state-of-the-art Airbus A220 fleet.”

Aernnova acquires Structural Integrity Engineering

Aernnova has completed the acquisition of Structural Integrity Engineering (SIE), an aircraft engineering company headquartered in Chatsworth (California) with regional offices in Seattle (Washington) and Madrid (Spain).

With this acquisition, Aernnova reinforces its growth strategy in North America and adds engineering and certification expertise that complements its aeronautical engineering division and DOA services. 

Dr. Matt Creager, who will continue as SIE’s President, said “We are honored to have secured the confidence of Aernnova’s management based on SIE’s strong reputation for engineering in structures and systems integration and our track record in delivering quality for our customers.  We look forward to working as part of Aernnova’s international engineering and manufacturing team to deliver high quality solutions for our customers.”

Beach Aviation Group

New facilities of GAMECO PMC officially put into operation

On Apr 3rd, the new facilities of GAMECO Parts Manufacturing Center (PMC) were officially put into operation. Specializing in developing and manufacturing of aircraft parts, PMC has attracted excellent talents in aeronautic major and professional technician with rich engineering experience. The new site covers an area of nearly 6,000 m² with appropriate layout and well-equipped facilities, which can assure the production is safe, effective and environmental-friendly.

At present, PMC has obtained the manufacture qualification of more than 10,000 parts, including cabin parts, cargo parts, airframe structure parts and mod. parts, which cover CNC machining parts, sheet metal parts, injection molded parts, composite parts, leather fabric, placards, electronic parts and cables, etc. Compared with purchasing parts from OEMs, the use of PMC’s self-produced parts makes the maintenance more efficient and cost-effective, reducing maintenance costs for GAMECO’s customers including China Southern Airlines.

GAMECO Parts Manufacturing Workshop was established in early 2012, and obtained Parts Manufacturer Approval(CAAC-PMA)officially on August 22nd, 2012. In June 2018, GAMECO leased a new facility, invested in new equipment, upgraded the Parts Manufacturing Workshop to Parts Manufacturing Center (PMC) and finally entered the trial operation at the end of 2018.

Ascent Aviation Services welcomes new CFO

Barton Budman has joined Ascent Aviation Services as Chief Financial Officer (CFO). In his new position Budman will report directly to Dave Querio, President, assuming responsibility for management of all aspects within the finance/accounting departments. 

Budman holds dual degrees in accounting and finance as well as a Master’s in Business Administration from the University of Miami.  His experience includes over 32 years of executive level financial and operational management.  He joins Ascent with valuable aviation finance experience having served as CFO for Commercial Jet and prior to that VP Finance/Division Controller for AAR Landing Gear Services.  He has demonstrated the ability to guide financial and operational strategies in multi-site operations.


SkyWorks reports first quarter 2019 transactions

SkyWorks Holdings announced transactions performed during the first quarter 2019 for its Leasing & Asset Management Group:

On behalf of a US investor, SkyWorks arranged the sale of two A319 aircraft and four A320 aircraft on-lease to Delta Air Lines.

SkyWorks was retained by a second US investor to arrange a portfolio sale of three aircraft (A319/320/B777-300ER) onlease to various airlines.

SkyWorks was retained by a third US investor to remarket three B737-700s and one B737-800 coming off-lease in 2019/2020.

SkyWorks continued to provide aircraft sourcing and fleet analytical support services to Modern Logistics.

AMROS Global

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AIR Convention Asia
May 1 - 3, 2019 – InterContinental Bangkok Hotel, Bangkok, Thailand

Aviation Festival Americas 2019
May 13 - 15, 2019 – JW Marriott Marquis, Miami, FL, USA

Managing Technical Aspects of a Leased Asset & Maintenance Reserves Seminar Training Seminar
June 11 - 12, 2019 – Novotel Barcelona City Hotel, Barcelona, Spain

Paris Air Show 2019
June 17 - 23, 2019 – Le Bourget, Paris, France
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