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MRO service provider SR Technics has entered into an exclusive CFM56-5B engine maintenance deal with Pegasus Airlines, the second largest carrier in Turkey. With services scheduled to begin in September of this year, the agreement covers 22 engine shop visits and a SR Technics lease engine dedicated to Pegasus Airlines over a six-year contract term. All work will be performed at the SR Technics engine shop in Zurich.
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As a growing low-cost carrier in a competitive market, Pegasus Airlines was looking for an MRO provider that could supply engine core performance and overhaul services as well as support unscheduled engine removals. During the negotiations leading up to the agreement, SR Technics
performed two shop visits. The efficiency and rapid turnaround of the work SR Technics performed, combined with the strong relations between key people at both companies, contributed to the decision to make SR Technics the carrier’s exclusive CFM56-5B maintenance provider.
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Air Lease Corporation (ALC) has posted its financial results for the second quarter ended June 30, 2019.
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ALC took delivery of 16 aircraft from its order book and one aircraft from the secondary market during the quarter, representing approximately US$1.6 billion in aircraft investments, ending the quarter with an operating portfolio net book value of US$17.8 billion with a weighted average age of 3.7 years and a weighted average lease term remaining of 7.2 years. The company placed 97% of its order book on long-term leases for aircraft delivering through 2020 and 77% through 2021.
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ALC ended the quarter with US$28.7 billion in committed minimum future rental payments consisting of US$13.5 billion in contracted minimum rental payments on the aircraft in its existing fleet and US$15.2 billion in minimum future rental payments related to aircraft on order.
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Air Lease Corporation issued approximately US$1.1 billion in aggregate principal amount of Medium-Term Notes comprised of US$750.0 million due 2026 at a fixed rate of 3.75% and US$300.0 million due 2021 that bear interest at a floating rate of three-month LIBOR plus 0.67%.
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In June 2019, the company entered into memorandums of understanding with Airbus to launch the A321 XLR aircraft and to order the A220 aircraft. Through these MOUs, ALC has the right to purchase 27 A321 XLR aircraft, 23 A321neo aircraft and 50 A220 aircraft, and has options for an additional 25 A220 aircraft. In addition, ALC entered into an MOU with Boeing to convert existing purchase orders of 15 737 MAX aircraft to five 787-9 aircraft.
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Ryanair, the Irish low-cost carrier has turned to the Irish High Court to lodge legal papers against the carrier’s outgoing COO. Within a week of Ryanair announcing on July 11 Bellew’s intention to leave at the end of this year, easyJet, a rival European low-cost carrier, announced he would be joining them. Ryanair CEO Michael O’Leary seemed surprised at the news commenting that the Irish company had fairly extensive non-compete clauses in its senior management contracts that would not usually allow a member of staff to leave Ryanair and immediately join a rival firm. “I would not expect any senior manager in Ryanair to be moving to a competitive airline for a reasonably long period of time,” O’Leary said, adding the airline was in dialogue with Bellew regarding his six-month termination period.
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Bellew had been chief operating officer at Ryanair for a period of 18 months, having re-joined company in 2017, shortly after the low-cost carrier’s rostering failure. Prior to his return, he was chief executive of Malaysia Airlines for just under two years, having also served as chief operations officer at the Kuala Lumpur-headquartered airline. Before joining Malaysia Airlines in 2015, Bellew spent more than nine years at Ryanair working in a number of positions, including head of sales and marketing and director of flight operations. Details of what legal action Ryanair was taking against Bellew have yet to be disclosed and neither Ryanair nor easyJet are currently commenting in any great detail on the situation.
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Republic announced the expansion of its partnership with Delta Air Lines. The agreement adds 30 Embraer 175 E-Jet aircraft to the airline’s fleet and further expands Republic’s position as one of the world’s largest E-Jet operators, with over 220 aircraft. The first aircraft will be delivered in October 2019, and deliveries will continue through July 2020.
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Republic currently operates approximately 38 aircraft for Delta and expects the expansion to increase its scheduled daily operations for Delta by more than 75%.
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The operational expansion will lead to the opening of two new bases within Republic’s network, Boston Logan International Airport (BOS) and Louisville Muhammad Ali International Airport (SDF). Republic currently has maintenance operations in Louisville and will add its crew base in December. Boston, also opening in December, will operate as a crew and maintenance base, with positions open for hire now. Republic currently has 13 crew and maintenance base locations across the Midwest and East Coast.
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Virgin Atlantic Airways has become Lufthansa Technik's launching customer for base maintenance checks on the Boeing 787 aircraft type.
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At its Irish overhaul facility, Lufthansa Technik Shannon, the last in a series of six contracted 787 airplanes, was recently re-delivered to the airline. The scope of work for each aircraft included a C1-Check, plus several modifications and additional repair work. Worldwide, Lufthansa Technik currently has more than 200 Boeing 787s from 15 customers under exclusive contract.
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The MRO provider has established a portfolio of globally available products and services to provide a comprehensive technical support for all commercial and VIP 787 operators and for all phases of the Dreamliner's life cycle. Besides line and heavy airframe maintenance, this includes integrated material support and composite repairs as well as landing gear services, an Aircraft Production Inspection Program and access to Lufthansa Technik's digital fleet solutions.
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Embraer has signed a long-term Pool Program Agreement with Mongolian Hunnu Air to support a wide range of repairable components for the airline’s recently leased fleet of E190. Hunnu Air is the first E190 operator in Mongolia and took delivery of its first E190 this year in May.
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The Pool Agreement includes full repair coverage for components and parts as well as the access to a large stock of components at Embraer’s distribution center, which will support the start of the airline’s E190 operation.
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Hunnu Air is one of the major airlines in Mongolia. Earlier this year, the airline signed an agreement to lease four E190s from CDB Aviation to expand its fleet size and route network. They started flying the first E190 from June 2019, with the other three scheduled to be delivered in 2020 and
2021.
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During July, more than 2.8 million passengers traveled with SAS, which is a record number for July and a slight increase compared to the same month last year. At the same time, SAS had a significant improvement in operational performance as well as a favorable development of yield.
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SAS traffic had a positive development during July, during which scheduled capacity increased with over 2% and the number of passengers increased by 0.2%. The load factor dropped 2.3 points to 83.2% compared to July 2018.
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Regularity increased with 1.8 points to 99.6% and punctuality increased by 4.4 points to 72.4%.
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Václav Havel Airport Prague will have another direct connection with the United States of America starting with the 2020 summer flight schedule. On August 8, American Airlines has announced the launch of new seasonal service between Prague and Chicago. The airline will operate the route with modern Boeing 787-8 Dreamliner aircraft.
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The connection will be available to passengers five times a week from May 8, (departure from Chicago) to October 24. Thus, the Dreamliner operated by American Airlines should land at Prague Airport for the first time on the morning of Saturday, May 9, 2020. Based on Prague Airport’s estimates, more than 48 thousand passengers will use the new route in both directions during the season.
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AeroCentury, an independent aircraft leasing company, has reported a second quarter 2019 net loss of US$78,000, compared to a net loss of US$81,000 for the second quarter of 2018. Second quarter 2019 results reflect the combined operations of AeroCentury and its subsidiary, JetFleet Holding, which was acquired by the Company on October 1, 2018.
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In the first six months of 2019, the Company reported a net loss of US$1.4 million, compared to net income of US$236,200, in the first six months of 2018.
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The results for the second quarter included a US$160,000 impairment provision, based on appraised value, for one older turboprop aircraft that is held for sale, but is on a short-term operating lease.
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The results for the second quarter of 2019 included a US$171,000 loss related to the reclassification of an asset held for lease to a finance lease receivable as a result of a lease amendment under which the customer agreed to buy the aircraft at lease expiration in November 2019.
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The second quarter included US$579,000 of maintenance reserves revenue resulting from payments received from a lessee that returned three leased aircraft to the Company in 2017.
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Sabre Corporation has signed an agreement to expand its digital operations technology alliance with Spirit Airlines. This alliance will make the airline one of the first carriers to utilize the breadth of the innovative, next-generation Sabre Operations Platform.
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Spirit, a current user of several of Sabre’s operations solutions, will soon implement Sabre AirCentre Movement Manager, Crew Manager and Recovery Manager, rounding out the core components of the Sabre Operations Platform. Collectively, this suite of technology tools provides comprehensive real-time intelligent optimization of airline operations.
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The cloud-enabled intelligent platform delivers valuable pan-operational insights, allowing employees to focus on critical activities that impact operational costs. Carriers can quickly recover from disruptive situations at the lowest cost, as the platform enables real-time publications of adjusted flight and crew schedules, taking pan-operations constraints into consideration. Further, the platform enables mobile tools that deliver notifications, allowing for seamless communication between operations controllers, crew schedulers and crew members and ensuring alignment across the airline.
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