Aergo Capital announces sale of two Boeing 737-300 aircraft

Aergo Capital (Aergo) has completed the sale of two 1997-98 Vintage Boeing B737-300 aircraft bearing manufacturers serial number (MSN) 28569 and 28869 to Star Air Cargo (Star Air). This ends 15 years of 737 classic ownership by Aergo. Around 75 aircraft of this model have been owned and leased by Aergo both in passenger and in freighter configurations.

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Aircraft Support Industries contracted by NAAI for design and construction of aircraft recycling facilities

Aircraft Support Industries (ASI) has entered into a Memorandum of Understanding with North American Aerospace Industries (NAAI) for the development of three new dedicated aircraft recycling facilities including the facility planned at the Global TransPark in Kinston, North Carolina, U.S.A. The other two facilities being constructed will be located at Al Ain International Airport in Abu Dhabi, UAE and Clark International Airport in the Philippines. In providing its services ASI will rely on a phased-in project development approach. Phase one will focus on a custom-designed 30,000 m² dismantling hangar that can accommodate three of the largest aircraft such as the Read more

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Iraqi Civil Aviation Authority entrusts NAS with passenger handling services at Baghdad International Airport

©NAS will extend its expertise and resources at the Babylon and Samara passenger terminals as well as the international transit halls

The Iraqi Civil Aviation Authority (ICAA) has entrusted National Aviation Services (NAS), an aviation services provider across the Middle East, Africa and South Asia, to upgrade and operate passenger-handling services and processes at Baghdad International Airport. NAS will extend its expertise and resources at the Babylon and Samara passenger terminals as well as the international transit halls. NAS will also be responsible for the refurbishment and upgrade of infrastructure and facilities, installation of new equipment, and implementation of all required technology solutions at the two terminals. The two terminals serve all major airlines flying in and out of the country, Read more

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New operator concession for El Salvador Airport Cargo Terminal

Munich Airport International (MAI), the German-based airport management and consulting firm, and EMCO, a Honduran construction company, have been awarded a concession to develop and operate the El Salvador Airport Cargo Terminal for a period of 40 years. The decision was announced on October 9, by the El Salvador Government, through the Comisión Ejecutiva Portuaria Autónoma (CEPA). As partner to EMCO, MAI will provide management and advisory services for the cargo terminal during all stages, including asset transition and takeover, operations management, service level and standard procedures setup and implementation, cargo business development, cargo related trainings as well as expertise Read more

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Finnair launches comprehensive adjustment and cost-savings program

Finnair is in the middle of the largest crisis in aviation’s history and is facing a challenging financial situation due to the impacts of the COVID-19 pandemic. To emerge from the crisis the airline has launched a comprehensive adjustment and cost-savings program. The program includes, among many other actions, jointly agreed decreases in personnel costs for several personnel groups. Top management remuneration does not include variable salary elements from 2020-2022. The rebuild of Finnair will take years, and will require hard work and dedication. Securing the company’s future demands a long-term contribution from all Finnair employees. Finnair has prepared a Read more

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AerCap signs financing transactions for approximately US$2.2 billion in third-quarter 2020

AerCap has reported its major business transactions for the third quarter 2020. The company has signed financing transactions for approximately US$2.2 billion and signed lease agreements for 28 aircraft, including three wide-body aircraft and 25 narrow-body aircraft.  During the third quarter, AirCap purchased nine new aircraft, including eight Airbus A320neo Family aircraft and one Boeing 787-9 aircraft. The company executed sale transactions for seven owned aircraft, including two Airbus A320 Family aircraft, one Boeing 737NG, one Boeing 747, two Boeing 767s and one Boeing 777-200ER aircraft.

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Dragon Aviation Capital enter partnership agreement with SOFEMA Aviation Services

Dragon Aviation Capital of Singapore (DAC) has entered into an agreement with SOFEMA Aviation Services of Bulgaria (SAS) to support SAS to expand its footprint into the ASEAN market. DAC is one of SE Asia’s leading technical consultants with head office in Singapore and satellite offices in Seoul and Hong Kong. DAC aim to offer SOFEMA’s extensive package of online and in house training courses to customers in emerging markets such as Vietnam, Indonesia, China, Cambodia, South Korea and, of course Singapore. DAC will further provide facilities in Singapore for in house training and other regions as we continue to Read more

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Aircraft values in distress says IBA as COVID drives down demand

There is a growing divergence between aircraft base and market values as the global effects of the Covid-19 pandemic drive down demand, according to data from leading independent aviation consultancy, IBA. The gap between aircraft base values – the underlying economic value of an aircraft in an open, unrestricted, stable market with a reasonable balance of supply and demand – and market values have grown by as much as 40%. Phil Seymour, President of IBA, says: “Aircraft base and market values are diverging at the greatest extent ever seen and to the extent that, across the  global commercial aircraft fleet Read more

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Global Crossing Airlines selects TRAX eMRO

Global Crossing Airlines is an airline that is looking toward aviation’s rebound and has decided that now is the right time to launch a modern, efficient charter passenger and cargo airline catering to tour companies, other airlines, sports teams, and clients requiring 150-seat aircraft for transportation. Known as Global X, the operation is now being certified in the U.S. as a part 121 Flag carrier. Starting with an Airbus A320-200 aircraft, the company plans to grow a fleet of 20 passenger A320s and 10 cargo A321s. It has just signed an agreement for the conversion of five A321 passenger aircraft Read more

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Farsound Aviation expands U.K. headquarters as part of longer-term growth plans

Farsound Aviation has purchased the building adjacent to its U.K. headquarters in Romford, Essex. The acquisition, which was finalized earlier this month, comes as part of the aero engine MRO supplier’s wider ambitions to develop the company in a carefully laid out expansion plan that will culminate in 2021. Despite continued challenges in the aviation sector, Farsound Aviation has committed fully to a comprehensive growth plan that will see the company expand its facilities for supplying C-Class, B-Class and other fast-moving-consumable-parts and kitted solutions for the global aero-engine MRO sector.

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