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LATEST NEWS
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Friday, September 18th, 2020
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Atlanta-based Delta Air Lines (Delta) has announced it is to raise US$9.0 billion, up from a previous estimate of US$6.5 billion, through a series of bonds and loans which will be backed by its SkyMiles loyalty program.
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The carrier is currently burning through US$27 million on a daily basis and the capital is being raised to help it weather the storm of the coronavirus pandemic, with estimates of a return to normal air travel not happening for several years.
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Having announced earlier this week that Delta would not be looking to take up a federal loan of US$4.6 billion under the Coronavirus Aid, Relief and Economic Security (CARES) Act. However, it still intends to pursue a second round of federal payroll grants. In a similar move, Unite Airline has raised US$5 billion against its MileagePlus loyalty program.
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Boeing has named B. Marc Allen as Chief Strategy Officer and Senior Vice President, Strategy and Corporate Development, reporting to President and CEO David Calhoun. The company also announced Christopher Raymond as the company's Chief Sustainability Officer, a newly created position reporting to Executive Vice President, Enterprise Operations and Chief Financial Officer Greg Smith. The appointments are effective October 1.
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Allen, first appointed to the company's Executive Council in 2014 as president of Boeing International, will now take on responsibility for the enterprise's overarching strategy, including long-term planning; global business and corporate development; and strategic investments, acquisitions and divestitures. He most recently served as president of Embraer Partnership and Group Operations, leading the associated business and integration teams, before terminating the partnership in April 2020.
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As Boeing's first Chief Sustainability Officer, Raymond will be responsible for further advancing Boeing's approach to sustainability that is focused on environmental, social and governance priorities, stakeholder-oriented reporting and company performance. Operating within the Enterprise Operations, Finance and Sustainability organization, Raymond will lead a team that collaborates across Boeing's commercial, defense and services businesses and its enterprise functions in support of the company's commitment to responsible and inclusive business practices and positive global impact.
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GA Telesis (GAT) has exercised an option for a second 737-800 passenger to freighter conversion with Aeronautical Engineers (AEI). This follows the recent announcement in July 2020 of GA Telesis’ entrance into the Passenger-to-Freighter (P2F) market.
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The second 737-800 (MSN 28826) will begin P2F conversion in January 2021, with completion scheduled for early May 2021. The freighter conversions will again be performed by the authorized AEI Conversion Center, Commercial Jet, in Miami. In addition, GA Telesis is currently evaluating additional 737F conversion slots for 2021, as well as Boeing 757F, 767F, 777F as well as the Airbus A321F and A330F.
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Spirit Airlines announced the closing of a private offering of US$850 million in principal amount of 8.00% senior secured notes due 2025 offered by two newly-formed Spirit subsidiaries. The notes are guaranteed by Spirit and secured by Spirit’s customer loyalty programs and brand intellectual property.
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“We’ve spent the past six months confronting the COVID-19 crisis head on and taking major steps to ensure our financial viability. We owe that to our valued Team Members, Guests and investors,” Spirit President and CEO Ted Christie said. “Our low fares and top-class reliability present a great value to consumers as travel demand builds and the economy recovers. We’ll be at the forefront of that recovery.”
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Spirit also announced it no longer intends to participate in the U.S. Treasury’s secured loan program under the CARES Act, given the successful completion of the company’s secured note offering.
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Furthermore, Spirit has completed its “at-the-market” (ATM) offering of 9 million shares of its common stock, which raised approximately US$156 million in net proceeds.
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SR Technics has launched its Quick Turn Line (QTL) on September 1, 2020. Besides covering quick turn services (hospital shop repairs and post-lease inspections), the new line also covers engine change and loan tooling.
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Besides significant savings and minimal turnaround times, customers benefit from the full engine shop capability and experience they have come to expect from SR Technics. With QTL services, customers can obtain faster unscheduled engine maintenance while optimizing their fleets’ readiness, reducing operating costs and reliably avoiding heavy and time-consuming engine repairs.
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Engine repair services offered on the QTL include the CFM International CFM56- 5B, 5C and 7B, and the Pratt & Whitney PW4000-94” and PW4000-100”. The independent set up enables a quick response throughout the entire event process, from offer to invoice. The QTL is largely independent in terms of manpower and equipment, and a single team manages each project from request for proposal to invoicing, providing dedicated support to each customer. Finally, the engineering experience of SR Technics’ repair professionals draws on thousands of shop visits, which allows precise work scoping for targeted damage rectification.
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In the future, the QTL will continue to evolve with the support of a partner network and its capabilities, and the portfolio of engines covered by the QTL will continue to expand. Finally, the marketing and sales teams will work to adapt the expansion to market demand.
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AeroMates a Part-145-certified start-up company that specializes in maintenance, repair and overhaul of aircraft components including wheels (MRO) has decided to go for AMOS, the comprehensive, fully-integrated MRO software solution.
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Since the two founders both have gained vast AMOS experience from their former careers, the decision was quickly taken in favour of AMOS. This valuable know-how has also allowed AeroMates to implement AMOS in an extremely quick and streamlined approach according to the special needs of a start-up with a limited number of users and a lean set-up.
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AeroMates is an MRO-shop located close to Cologne, Germany. The company offers maintenance, repair and overhaul of wheels and non-destructive testing (NDT) of aircraft components. AeroMates is Part-145-certified and a start-up company that only launched its business in the beginning of 2020.
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