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LATEST NEWS
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Friday, April 23rd, 2021
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GE Capital Aviation Services (GECAS) has agreed a purchase/leaseback (PLB) arrangement for 14 LEAP-powered Airbus neo aircraft with IndiGo. The deal involves seven A320neo and seven A321neo aircraft which are scheduled to deliver between the fourth quarter of 2021 and mid-2022.
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GECAS has supported Indigo since the carrier’s inception in 2006 and it is currently India’s largest carrier by fleet size and passenger numbers. “GECAS remains proud to support IndiGo’s exciting growth over the past 15 years, and adding these 14 neos is a true honor,” explains Aashish Sonawala, SVP and Asia-Pacific Regional Manager of GECAS. “While putting our own capital to work, GECAS’ strategic platforms are providing additional capacity to meet the needs of our global customer relationships,” shares John Bordeaux, GECAS’ Chief Investment Officer, adding “We’re very pleased to lend our extensive expertise and network to identify the best opportunities for our investment partners.”
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GE Capital Aviation Services (GECAS) is a world-leading aviation lessor and offering a broad range of financing products and services including operating leases, purchase/leasebacks, capital markets, and airframe parts management. GECAS owns, services or has on order more than 1,600 aircraft and serves over 200 customers in approximately 75 countries from a global network of 15 offices. IndiGo is one of the fastest growing low-cost carriers in the world with a fleet of 280+ aircraft, operating around 1,200 daily flights, and connecting 66 domestic and 24 international destinations.
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Alaska Air Group has reported a first quarter 2021 GAAP net loss of US$131 million, compared to a net loss of US$232 million n the first quarter of 2020. Excluding the impact of payroll support program wage offsets, special items and mark-to-market fuel hedge adjustments, the company reported an adjusted net loss of US$436 million, compared to an adjusted net loss of US$102 million in 2020.
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Alaska held US$3.5 billion in unrestricted cash and marketable securities as of March 31, 2021, and available total liquidity of US$5.3 billion. The company generated US$167 million in operating cash flow in the first quarter, inclusive of PSP funding, bolstered by improved advance bookings through increased demand for air travel.
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One year after completing the acquisition of the Swiss Company Kopter Group (Kopter), Leonardo has welcomed the SH09 single-engine helicopter as a full member of its product range by rebranding it as the AW09.
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This step synergizes the two identities of Leonardo and Kopter. The AW09 perfectly complements the existing product range of Leonardo, allowing the company to increase its share in the strategic single-engine market, which is one of the largest and most dynamic segments worldwide. Furthermore, the AW09 brings next-generation performance and demonstrates Leonardo’s innovation leadership within the industry as the helicopter features the latest safety standards and most advanced technologies and this will pave the path for further advancements in vertical flight.
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The AW09 will continue to be developed by Kopter in Switzerland. The program progresses further with the contribution of joint Leonardo-Kopter teams. The third prototype (P3) has now logged in excess of 40 flight hours in Switzerland since mid-January in its new configuration. This includes enhancements in the main rotor head, gearbox, an extended rotor mast and a new design of the flight controls, combined with the modern Garmin G3000H cockpit. The AW09 next prototype, PS4, is expected to fly this year, followed by the PS5.
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Finnair will start accepting a COVID-19 vaccination certificate from the first vaccination dose as an alternative to a negative test result or a certificate of a previous COVID-19 infection, on Finnair flights to Finland from May 11, 2021. In line with the recommendation by the Finnish Institute of Health and Welfare, Finnair has, since late January, required that all passengers travelling to Finland - excluding transfer passengers - present either a negative test certificate or an immunity/recovery certificate as a pre-requisite for boarding.
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In addition, as of May 11, there is no requirement for children under the age of 16 to present a health certificate, but Finnair recommends children between 12 and 15 years of age arrive with proof of a negative test result. This is to speed up the arrival procedure at Helsinki Airport, where passengers with a negative test result are exempt from testing on arrival.
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“Vaccines have proven their power in fighting the pandemic, and vaccination certificates will play a key role in the upcoming EU Digital Green Certificate to ensure the health and safety of travelers,” says Kimmo Ketola, Medical Director at Finnair. “The likelihood of a vaccinated person being infected and transmitting COVID-19 is very small.”
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Finnair will accept vaccination certificates for all COVID-19 vaccines approved by the World Health Organization or the European Medical Agency. The vaccine needs to be administered at least 21 days before the travel date. As an alternative to the vaccination certificate, customers can present proof of a negative COVID-19 test result or a certificate of a previous COVID-19 infection.
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Aergo Capital Limited (Aergo) has completed the acquisition of four 2014-15 Vintage ATR72-600 aircraft from a major international financial institution. The aircraft were acquired naked and in parallel, lease documentation is close to being agreed on a number of the units.
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Fred Browne, Chief Executive Officer of Aergo, commented: “This acquisition demonstrates Aergo’s flexibility and broad range of skills which allows us to focus on a wide range of high-quality deals that present good value and real opportunity to yield strong returns for our investors. Aergo has seen a growing range of opportunities to work with banks and other players who are motivated to sell in today’s market.”
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StandardAero’s Accessories Center of Excellence (COE), located in Hialeah, Florida, was recently certified by Honeywell Aerospace to perform OEM-approved repairs on a broad number of helicopter and turboprop engine line replaceable units (LRUs) and accessories. The license agreement includes repairs for Rolls-Royce M250 and Pratt & Whitney PT6T helicopter fuel controls and governors. In addition, StandardAero’s Accessories Center of Excellence (COE), located in Fort Myers, Florida has been approved by Triumph Group to perform MRO on Roll-Royce M250 hydromechanical units and fuel pumps.
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All of these expanded services and the development StandardAero’s Accessories COE resulted as an extension of the company’s acquisition Safe Aviation Solutions (including Safe Fuel Systems, Accel Aviation, and B&E ACR) in 2019. The acquisition expanded the company’s MRO capabilities to include comprehensive testing, repair, overhaul and modification of engine fuel system components, pneumatic/hydraulic/actuation systems and aircraft power generation systems for airlines, freight companies, OEMs and other MRO providers.
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At its meeting on April 22, the Supervisory Board of Lufthansa Technik appointed Soeren Stark as Chief Operations Officer (COO) and Accountable Manager of Lufthansa Technik for a further five years until December 31, 2026.
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Stark has been a member of the Executive Board since January 2019. He is responsible for technical operations, logistics and IT. As the "accountable manager" within the meaning of EASA Part 145, he is the point of contact for the aviation authorities on all matters relating to the maintenance and manufacturing operations of Lufthansa Technik.
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Stark has held various positions within Lufthansa Group since 2001. From 2016 until 2018, he was responsible for operations at Lufthansa Cargo as member of the Executive Board.
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