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LATEST NEWS
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Monday, January 7th, 2020
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Though not strapped for cash with approximately US$20 billion currently available based on third-quarter figures, Boeing is considering increasing its debt in light of ongoing 737 MAX problems, according to the Wall Street Journal. With failure to see the stricken 737 MAX back in service after two fatal crashes, Boeing has decided to halt production of the narrow-body jet which will lead to certain cost reductions, but these will likely be further affected by consequent delays in aircraft deliveries.
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Currently, Boeing not only faces compensation claims from the families of victims aboard the two fatal flights, but is also having to make considerable compensation payments to airlines whose existing 737 MAX jets have been grounded since March, or to carriers who have had deliveries of ordered aircraft delayed. Boeing is looking to raise in the region of US$5 billion in new debt, though it anticipates first-half expenditure will exceed US$15 billion. The additional borrowing would help to maintain 737 MAX production facilities and finished planes, together with covering US$4.0 billion needed to complete its acquisition of an 80% stake in the Brazilian plane manufacturer, Embraer.
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Pratt & Whitney has announced that Carroll Lane has assumed the role of President of the company's Commercial Engines business, reporting to Pratt & Whitney President Christopher Calio.
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Lane succeeds Chris Calio in this role, who was named President of Pratt & Whitney last year, with an effective date of January 1, 2020, succeeding Bob Leduc, who retired from the company after more than four decades of service.
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Lane returns to Pratt & Whitney after leading Investor Relations for United Technologies Corporation, where he was responsible for developing and implementing strategies that position UTC as a preferred investment to domestic and international investor communities.
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AerSale Component Solutions, a division of AerSale®, has received approval from the Federal Aviation Administration (FAA) to overhaul Boeing 737, 757, and 767 series aircraft landing gear. FAA approval to overhaul landing gear for the Airbus A320 family of aircraft is expected in the coming months.
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“We are committed to providing our customers with a full suite of products and services, and FAA approval to overhaul landing gear used on widely popular commercial aircraft is yet another example of the broad range of integrated aircraft solutions and technical capabilities we offer,” said Nicolas Finazzo, Chairman & Chief Executive Officer of AerSale. “Our goal is to provide our customers with a convenient, cost effective, and quality one-stop shop to service their needs.”
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Jet Parts Engineering (JPE), a leading PMA parts supplier, has reported the acquisition of Aero Parts Mart (APM). APM is a Fort Worth, TX-based engineering design company that provides cost savings solutions through the design, production, and distribution of products to the regional segment of the aviation industry.
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"It was critical that I find the right home for Aero Parts Mart; a home where the APM team and most importantly our customers would remain top priority,” remarked Steve Bowen, President of APM. “For over two decades, APM has built a reputation and brand synonymous with the core values of safety, quality, customer satisfaction, and innovation. Jet Parts Engineering shares these values, which are paramount to APM’s continued growth and success. I am truly excited to have found APM’s new home with JPE.” Bowen will maintain a leadership role with APM.
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The transaction was overseen by Vance Street Capital LLC, a middle-market private equity firm focused on investing in highly engineered solutions businesses across the aerospace and defense, industrial, and medical markets. JPE is a Vance Street Capital portfolio company.
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AviaAM Leasing, a global aviation holding company engaged in tailored aircraft leasing and trading services, has announced that its joint venture with the Henan Civil Aviation Development and Investment Company (HNCA) – AviaAM Financial Leasing China – has acquired one more Boeing 737-800.
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The aircraft joined the fleet with a lease agreement attached to the current Chinese lessee – Donghai Airlines, which will operate the aircraft under a nine-year agreement.
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Aventure Aviation has acquired for teardown two Bombardier CRJ200 airframes (MSN 7344 and 7397) from Beautech Power Systems. The dismantling will commence in Kingman, Arizona, USA.
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All harvested parts will be inspected on-site, and shipped to Aventure Aviation's main facilities in Peachtree City, Georgia, U.S.A., located near Atlanta's Hartsfield-Jackson International Airport.
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Delta Helicopters will be upgrading to WinAir Version 7. Having used two previous versions of WinAir’s software for the past 16 years, the company determined that a move to a more robust and browser-based version of the software would be a significant benefit to its entire operation. As a result, WinAir’s Product Implementation team will visit Delta’s headquarters in St. Albert, Alberta, to complete the on-site training and go-live phase of the software implementation.
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Delta Helicopters is a leading helicopter operation with six bases in Alberta, Canada. The company was established in 1972 and currently employs approximately 50 staff. It offers a variety of services to clients within the province and throughout Canada from the oil and gas industry, forestry industry, mining industry, government, and so on. These services consist of chartering staff, equipment transportation, stand-by evacuation, fire suppression, aerial seeding, land surveying, thermal imaging, pipeline inspection, powerline inspection, search and rescue, wildlife population counts, air ambulance/medevac services, and sightseeing expeditions.
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STS Aviation Group (STS) has acquired Airbase Services / Les Services Airbase (Airbase), an aircraft interiors maintenance, repair and management specialist based out of Montreal, Quebec, Canada.
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With this acquisition, STS formally enters the Canadian MRO market as Airbase has four Transport Canada approved facilities in YUL, YYZ, YWG and YVR. The sale is being publicized as turnkey, and STS will immediately assume control of Airbase personnel and operations.
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Lena Watters, who was the acting President of Airbase prior to the acquisition, will stay on as President alongside much of the company’s existing workforce.
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U.S.-based Spirit Airlines has finalized a purchase agreement with Airbus for 100 A320neo Family aircraft. In October, the two parties have signed a memorandum of understanding (MoU) for the purchase of up to 100 of the aircraft – a mix of A319neo, A320neo, and A321neo – to meet the airline’s future fleet requirements.
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Spirit is based in South Florida and offers flights throughout the U.S., Latin America and the Caribbean. The airline will announce an engine selection at a later date.
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