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LATEST NEWS
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Thursday, June 6th, 2019
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Having successfully negotiated a deal where Airbus acquired an 80% stake in the ailing CSeries of Bombardier jets, the Canadian plane and train maker is now in discussion with Mitsubishi Heavy
Industries Ltd (Mitsubishi) over the acquisition of its Canadair Regional Jet (CRJ) series according to The Air Current, which also indicated that a firm decision might be announced by the beginning of the Paris Air Show which begins on June 17. As a result of the news, the share price of Bombardier jumped 14 percent.
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Mitsubishi has been struggling with its own regional jet, the MRJ. Delivery has been delayed many times since it’s original projected date of 2013 and current revised target of 2020, so the acquisition
of the Bombardier CRJ series would provide the Japanese manufacturer with the necessary expertise to assist with development and certification. The timing of the move by Mitsubishi could prove to be prudent with Boeing having recently acquired Brazil’s Embraer commercial jet program which produces jets of a similar size to the CRJ with its E-Jet E2 regional jet.
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Currently Bombardier is making a loss on the CRJ program and has no orders for the jet beyond 2020 and has been keen to concentrate more on the profitable business jet and passenger rail car sections of the business.
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According to Reuters, Bombardier Chief Executive Alain Bellemare had said in January the company was considering “all strategic options” for the regional jet program, including a potential sale.
Analysts have calculated that the value of the sale of the CRJ program would be between the US$300 million Bombardier received from Longview Capital for the sale of the Q400 turboprop and US$680 million based on the delivery of 1,900 of the CRJs to date.
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Saudia Aerospace Engineering Industries (SAEI), a wholly-owned subsidiary of Saudi Arabian Airlines Holding, has selected Aeroxchange’s AeroBuy solution to drive asset optimization and increase supply chain transparency.
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SAEI is headquartered in Saudi Arabia at King Abdul Aziz International Airport (KAIA) in Jeddah. With over 59 years of experience, it is one of the largest Maintenance, Repair and Overhaul (MRO) service providers in the Middle East. SAEI provides full maintenance support to Saudi Arabian Airlines’ (SAUDIA) fleet and also provides services to SAUDIA’s affiliates and other major local regional and international airlines.
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“We are pleased to welcome SAEI onto the Aeroxchange platform and look forward to integrating SAEI’s AMOS system seamlessly into the Aeroxchange e-commerce network,” said Albert Koszarek, President and CEO of Aeroxchange. “AeroBuy will provide SAEI full visibility across its entire purchase order process by automating and standardizing communication with its trading partners. This is a first step in a plan to automate SAEI’s entire MRO supply chain. With SAEI’s prestigious reputation, this new agreement adds substantial value to our efforts in expanding Aeroxchange’s presence in the Middle East.”
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MTU Maintenance has inaugurated a new logistics center at its Ludwigsfelde site on June 5. The company has invested €11.5 million in the new building, which totals 6,500 m² of operating space across two levels and can house 105 employees. The relocation of all relevant departments to the new building is scheduled for completion in September this year.
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The expansion became necessary due to continual growth within the company. This applies not only to the number of employees but also to the volume of business and the engine models in the site's portfolio. Engine deliveries out of Ludwigsfelde increased by 12% from 2016 to 2018. MTU Maintenance Berlin-Brandenburg has also increased its employee count by more than a quarter over the past three years, and the company now employs a total of 838 people.
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MTU Maintenance Berlin-Brandenburg has set up a mobile repair team for the PW800 engine, built up repair capabilities for the low-pressure turbine and added component repairs for the PW1100G-JM engine to its portfolio since 2018. The introduction of further engine programs is already in preparation. As a first step, mobile repair capabilities for the PW307A/D are to be built up by
2020. The engines will be used in business jets Dassault Falcon 7X and 8X respectively.
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SkyTeam, the global airline alliance co-founded by Delta, has named Walter Cho, Chairman and CEO of Korean Air, as the new chairperson of its alliance board. The appointment was endorsed this week at a meeting of the SkyTeam Alliance Board, which is composed of the CEOs of the 19 member airlines and oversees SkyTeam's global strategy.
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As a founding member, Korean Air has been instrumental in shaping SkyTeam over the last 20 years. Walter Cho will now play an active role, alongside the other members, as SkyTeam grows from an established network to a digitally connected, customer-centric alliance.
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SkyTeam has also introduced an executive board to its governance structure. Earlier this month, Dong Bo, Chief Marketing Officer, China Eastern Airlines was appointed the chairperson of this board.
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Effective from June 4, Walter Cho will replace the chairperson of the alliance board, Michael Wisbrun, who has held the position for more than three years.
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Delta Air Lines has reported operating performance for May 2019. Delta reported that system traffic increased 7% compared to the previous year, while capacity increased 5.3%. System load factor improved 1.3 points to 87.6% compared to the same period in 2018.
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Air Canada said it has entered into a sales agency agreement with Drone Delivery Canada (DDC) through which Air Canada Cargo will market DDC's drone delivery services in Canada, giving the logistics community access to the growing potential of commercial drone deliveries.
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Under the terms of the agreement, Air Canada Cargo will act as a sales agent of DDC for the purpose of marketing and pursuing sales of DDC's drone delivery services across Canada, on those routes for which DDC has sought and received regulatory approval.
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DDC will benefit from Air Canada Cargo's expertise and ability to develop, promote and sell DDC services through Air Canada Cargo's industry leading marketing and sales technology channels in Canada.
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Goshawk Aviation has sold a portfolio of 18 aircraft to Pioneer Aircraft Finance Limited and Pioneer Aircraft Finance LLC (collectively Pioneer), a newly formed ABS entity. The portfolio comprises of 16 narrowbody, 1 widebody and 1 regional aircraft. As at March 31, 2019, the aircraft had an average age of 5.3 years and were on lease to 18 different lessees. Goshawk Management (Ireland) will act as Servicer and Asset Manager.
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The Pioneer ABS structure included three series of fixed rate notes in addition to equity certificates in 144A / Reg S format with CUSIP and ISIN. 30% of the equity certificates are held by one or more funds and/or accounts managed or advised by Beach Point Capital Management LP, as the anchor investor. Goshawk retained 10% of the equity certificates.
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Proceeds from the issuance of the Notes and equity will be used to acquire the Aircraft, fund certain accounts for the Notes and to pay certain expenses.
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Chairman of Goshawk and Executive Director of NWS Holdings Limited, Brian Cheng said: ”This ABS transaction is a major milestone for Goshawk. We are pleased with the overwhelming market response reflecting investors’ appetite for our quality assets and Goshawk’s undertaking as the long-term asset manager.”
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Planet Nine Private Air (Planet Nine), the Van Nuys, California based private charter operator and aircraft management company, announced the arrival of its fifth ultra long-range Dassault Falcon 7X aircraft onto its Part 135 certificate, just in advance of its first anniversary of operations.
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The latest aircraft, registration no. N999PN, brokered by Freestream Aviation Limited is a 2012 model and is sporting the distinctive Planet Nine 14-seat luxury executive interior, with a crew rest area, Swift Broadband Wi-Fi and IFE. Like its four sister aircraft, this Falcon 7X will be positioned for charter globally between Van Nuys, Teterboro, Miami and London available for multi-leg and
one-way domestic and International missions.
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Aviation Capital Group (ACG), a leading aircraft operating lessor, has announced the upsize, amendment and extension of its five-year unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein.
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Total commitments increased by US$370 million, to approximately US$2.0 billion, and the maturity date was extended to June 3, 2024. Together with another unsecured revolving credit facility, ACG has US$2.2 billion of revolving commitments from 24 financial institutions globally.
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Just a few weeks after signing a Letter Of Intent with AFI KLM E&M for GEnx engine support, Canadian airline WestJet extends its partnership with the global MRO network in the field of 737 line maintenance.
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A European leader in the regional jets & narrow body aircraft market and having an internationally acknowledged expertise on the Boeing 737, Embraer 170/190, BAe146/Avro RJ, Fokker 70/100 & Airbus A320 Family, KLM UK Engineering has confirmed this new contract with WestJet.
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KLM UK Engineering commenced line maintenance support with WestJet at Glasgow on their Boeing 737 fleet from April 2019.
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