Avianca looks to slash US$10bn 100-jet order

Avianca CEO Hernan Rincon has announced that the Latin American carrier is looking to renegotiate the US$10 billion 2015 deal it had struck with European plane maker Airbus for 100 A320neos. Commenting on the forthcoming talks with Airbus, Rincon stated that: “Of those 100, we’ll probably receive between 50 and 80 planes,” adding: “We don’t have any doubt that we will keep growing, what has changed is the rhythm of the growth.” Rincon also said that: “The rhythm of technology is changing, it will take a while to get all of the order and we don’t want to have a Read more

Email Post to a Friend Email Post to a Friend

Avolon orders 100 Airbus A320neo family aircraft valued at US$11.5 billion

Avolon, the international aircraft leasing company, has announced an order for 100 Airbus A320neo family aircraft valued at US$11.5 billion at current list prices. Dómhnal Slattery, Avolon CEO, commented: “Our order for 100 A320neo family aircraft builds on our leading industry position and reflects our ambition to become the global leader in the sector. We are locking in growth well into the next decade and building on our existing order book of exclusively new technology aircraft. The scale of the order reflects the long-term commitment and strategic perspective of our shareholders.” “We continue to see robust demand from our customers Read more

Email Post to a Friend Email Post to a Friend

Fly Leasing to sell 12 aircraft

Fly Leasing (FLY) has contracted to sell 12 narrowbody aircraft from its portfolio. The 12 aircraft have a weighted average age of 10.6 years and an average remaining lease term of 3.2 years. FLY anticipates the sales will generate in excess of US$125 million of cash after repaying debt and satisfying other transaction-related expenses. It is expected that the sales will be completed by March 31, 2019. “These sales meet several strategic objectives, particularly reductions in our leverage and our lessee concentrations. We expect to announce more sales over the coming months as we prepare for our growth pipeline of Read more

Email Post to a Friend Email Post to a Friend

Icelandair reverses plans to acquire WOW Air

WOW Air ©AirTeamImages

The future for Iceland’s low-cost carrier WOW Air looks bleak with Icelandair Group scrapping plans to buy out the struggling airline. Icelandair confirmed that conditions for the share purchase were “unlikely” to be filled by the company’s shareholder meeting November 30, 2018. WOW Air first took to the air in 2012 as a no-frills budget airline offering low airfares, but charged for carry-on luggage, food and drinks. However, escalating financial problems began to take their toll after a bond issuance in September, the Icelandic carrier struggling to deal with rising fuel costs. Subsequent to this, aircraft lessors and the company’s Read more

Email Post to a Friend Email Post to a Friend

Investigators confirm Lion Air 737 MAX not airworthy prior to fatal crash

Indonesian investigators have confirmed that the Lion Air Boeing 737 Max jet was not in an airworthy condition the day before its fatal crash on October 29 which killed all 189 passengers and crew on board. They have released that on the flight from Bali to Jakarta on the October 28, the pilot had to shut down the plane’s anti-stall system before choosing to continue it flight. It has also been made clear to Lion Air that it must improve its safety culture and documentation of repair work carried out on its planes. The transport safety agency has yet to Read more

Email Post to a Friend Email Post to a Friend

United Technologies to become three independent companies with Rockwell Collins’ acquisition

With the successful acquisition of Rockwell Collins, United Technologies Corp. (United Technologies) has announced its intention to divide up its commercial businesses into three major companies – United Technologies, Carrier and Otis. Carrier will produce HVAC, refrigeration, building automation, fire safety and security products, while Otis will manufacture elevators, escalators and moving walkways. United Technologies will comprise Collins Aerospace Systems and Pratt & Whitney. Collins Aerospace Systems is a new company created through the acquisition of Rockwell Collins which, according to United Technologies “is one of the largest [acquisitions] in aerospace history. It brings together Rockwell Collins and UTC Aerospace Read more

Email Post to a Friend Email Post to a Friend

Piaggio Aerospace turns to Italian government with request to be put into receivership

Owing to “the state of insolvency of the company,” Italy’s Piaggio Aerospace has turned to the Italian government with a request to be put into receivership. This comes despite a current firm order for eight P.1HH unmanned aircraft (a variant of the P-180 business aircraft) from the United Arab Emirates with deliveries expected to commence by year end. The recent change in government in Italy in March, which saw the country’s incumbent center-left government defeated before a populist coalition, has resulted in a catastrophic delay in confirmation of an order from the Italian Ministry of Defence for 20 P2.HH variants, Read more

Email Post to a Friend Email Post to a Friend

Caribbean Airlines orders 12 737 MAX 8 jets

Caribbean Airlines selects the 737 MAX to renew its fleet ©Boeing

Caribbean Airlines has chosen to enhance and renew its single-aisle fleet with the 737 MAX 8. The carrier, which has long operated the Next-Generation 737, will take delivery of 12 MAX airplanes in the coming years. The airline commemorated the selection of the MAX during a ceremony featuring national dignitaries, including the Prime Minister of Trinidad and Tobago, the Honorable Keith Rowley, and Caribbean Airlines Chief Executive Officer, Garvin Medera. “Boeing has been by our side since Caribbean Airlines was founded twelve years ago using the 737-800. The 737 MAX allows us to continue offering a safe and comfortable experience Read more

Email Post to a Friend Email Post to a Friend

First Boeing 777X flight test airplane comes together

777X final body join ©Boeing

Boeing has brought together the major fuselage sections to form the first 777X airplane that will take to the skies in 2019. In a major production milestone called ‘final body join,’ Boeing teams connected the airplane’s nose, mid and aft sections in the company’s factory in Everett, Wash. The jet now measures 252 feet long (77 meters) from nose to tail, making it the longest passenger jet the manufacturer has ever produced. The 777X builds on the market-leading 777 and the 787 Dreamliner to offer airlines the largest and most-efficient twin-engine jet in the world. The airplane provides 12 percent Read more

Email Post to a Friend Email Post to a Friend

easyJet orders additional 17 A320neo

easyJet orders additional 17 A320neo aircraft ©Airbus

Airbus has reached an agreement with easyJet that extends the airline’s fleet plans into 2023, exercising purchase rights to firm orders for 17 A320neo. This takes its combined order for the NEO to 147 (including 30 A321neo) and means easyJet has ordered 468 A320 Family aircraft to date. The aircraft are configured with 186 seats in a single class configuration and powered by Leap CFM engines. easyJet currently operates a fleet of 316 A320 Family including 17 A320neo and three A321neo, making it the world’s largest airline operator of Airbus’ single aisle aircraft. easyJet serves over 130 European airports in Read more

Email Post to a Friend Email Post to a Friend