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LATEST NEWS
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Wednesday, November 13th, 2019
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Embraer and KLM Cityhopper have signed a firm order for 21 E195-E2 aircraft, plus 14 purchase rights. The 21 firm positions will be acquired via operating lease from Embraer lessor partners Aircastle and ICBC Aviation Leasing. The order was previously announced as a Letter of Intent for 15 firm orders with 20 purchase rights at the Paris Air Show earlier this year. With all purchase rights exercised the deal would have a value of US$2.48 billion.
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The aircraft for this order will come from the existing backlogs of lessors Aircastle and ICBC Aviation Leasing; each providing KLM with 11 and 10 E195-E2s, respectively.
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Airbus Helicopters has announced that its VSR700 unmanned aircraft successfully performed several take-offs and landings at a drone test centre near Aix-en-Provence in the south of France on Friday, November 8. The longest flight lasted approximately 10 minutes. This stage of the flight-test program required that the unmanned aircraft was tethered to the ground with a 30m cable which secured the flight-test zone.
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“The VSR700 is a fully-fledged unmanned aerial system, capitalizing on Airbus Helicopters’ extensive experience of advanced autopilot systems and engineering expertise to provide modern militaries with new capabilities”, said Bruno Even, Airbus Helicopters CEO. “This first flight of the VSR700 prototype is a major milestone for the program as we make progress on the operational demonstrator for the French Navy that will perform trials in 2021 in partnership with Naval Group.” The VSR700 is an unmanned aerial system in the 500-1000 kg maximum take-off weight range and is a derivative of the Hélicoptères Guimbal’s Cabri G2. It offers the ideal balance of payload capability, operational cost and endurance. It can carry multiple, full-size naval sensors for extended periods and can operate in existing ships, alongside a helicopter, with a low logistical footprint.
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The VSR700 prototype is a step-change from the optionally piloted demonstrator that first flew in 2017 and which was based on a modified Cabri G2 equipped for autonomous flight. Compared to the demonstrator, the VSR700 prototype has a specialized set of avionics and an advanced flight control system, and a payload bay in place of the pilot.
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FPG Amentum, the Dublin-based aircraft leasing/management company has announced the sale of two Boeing 737-700s (MSNs 34320 and 34321). FPG Amentum has leased the aircraft to Southwest Airlines on behalf of FPG Amentum’s investor customer Global Aircraft Fund I since 2016 and has now arranged the sale of the aircraft to the operator.
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JetBlue Airways has posted its preliminary traffic results for October 2019. Traffic in October 2019 increased 6.2% from October 2018, on a capacity increase of 6.7%. Load factor for October 2019 was 82.5%, a decrease of 0.4 points from October 2018. JetBlue’s preliminary completion factor for October 2019 was 99.6% and its on-time performance was 80.7%.
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Texas-based King Aerospace Companies and Pennsylvania-based The Thurmond Group have formed a strategic partnership that unites two reputable names in aviation. The alliance will enable both companies to grow their support for intelligence, surveillance and reconnaissance (ISR) specifically and aircraft modifications in general.
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The Thurmond Group has built strong relationships with both ISR-focused government and private industry by providing integration services for that include but are not limited to sensors, networking, operation systems and the Federal Risk Management Framework (RMF). Both it and King Aerospace are known for their ISR quick reaction capability (QRC). Maintenance, engineering and FAA-certified modifications will be handled at King Aerospace’s facility in Ardmore, OK, just 90 miles north of Dallas. The AS
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9110-certified operation accommodates the most common turboprop and jet aircraft for commercial and military/government commercial-derivative applications. This includes Dash 8, King Air, Boeing 737, Citation, Gulfstream and Challenger aircraft. The King Aerospace facility includes a 9,000-foot runway and encompasses four hangars with more than 200,000 ft² of space. It offers a highly skilled workforce that operates on a no-excuses philosophy.
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JetHQ has turned to an aviation veteran to continue the company’s growth in the New York area and East Coast of the United States. The aircraft transaction and brokerage company has announced the addition of John Daut as Vice President of Sales.
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Daut comes to JetHQ with extensive sales and leadership experience, including 15 years in
aviation sales, and heads up JetHQ’s East Coast base of operations from White Plains, New York. He most recently served as a Base President with Jet Linx in New York.
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Aviation maintenance-quoting network MRO Insider has announced Yingling Aviation in Wichita, KS, has come aboard as a maintenance provider.
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Yingling Aviation provides maintenance, avionics, paint, and interiors for the Cessna and Beechcraft line of turboprops and jet aircraft. Users of MRO Insider’s quote request platform will now have the ability to receive prompt quotes from Yingling as part of the provider network.
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Jerry Pickett, VP of Business Development states “We have been interested in the MRO Insider program and have monitored it for over a year. With its continued growth and our significant expansion of capabilities, facilities and staff the time was right for us to participate in the MRO Insider network. We are confident the program will introduce our services to many potential new customers”.
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MRO Insider is a web-based tool for obtaining multiple maintenance quotes by sending out a single request. The main goal of the company is to provide transparency and efficiency in the
maintenance quoting process for aircraft owner/operators, by allowing users to compare quotes and facilities side by side.
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Nordic Aviation Capital (NAC) has delivered one ATR 72-600, MSN 1145, to Air Nostrum on lease.
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Air Nostrum was founded in 1994 in Valencia, Spain. It was created to become a reference point for the southern European regional aviation market sector as indicated by its original name: Air Nostrum Lineas Aereas del Mediterraneo (Air Nostrum Mediterranean Airlines). Funded by private capital, it operates as part of the Iberia Group under the brand name of Iberia Regional Air Nostrum.
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In the third quarter 2019 (3Q19), Embraer has delivered 17 commercial and 27 executive (15 light and 12 large) jets, compared to 15 commercial jets and 24 executive (17 light and 7 large) jets in the third quarter of 2018 (3Q18). The Company’s firm order backlog at the end of 3Q19 was US$ 16.2 billion; EBIT and EBITDA in 3Q19 were US$(20.8) million and US$18.2 million, respectively, yielding EBIT margin of -1.8% and EBITDA margin of 1.5%.
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The quarterly results were impacted by separation costs of US$34.8 million related to the carve out of Embraer’s Commercial Aviation business. In the first nine months of 2019 the Company’s EBIT was US$(9.3) million (EBIT margin of -0.3%) and EBITDA was US$ 116.2 million (EBITDA margin of 3.4%). In the same period separation costs represented US$66.6 million.
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3Q19 net loss attributable to Embraer shareholders and loss per ADS were US$(77.2) million and US$(0.42), respectively. Adjusted net loss (excluding deferred income tax and social contribution) for 3Q19 was US$ (48.4) million, with adjusted loss per ADS of US$(0.26). Embraer has reported adjusted net loss in 3Q18 of US$(16.5) million, for an adjusted loss per ADS of US$(0.09) in the quarter. The Company has reported 3Q19 free cash flow of US$(257.4) million, versus free cash flow of US$(162.6) million reported in 3Q18.
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Pratt & Whitney and Vietnam Airlines have signed a 12-year EngineWise Comprehensive service agreement for Pratt & Whitney GTF™ engine maintenance for the airline's fleet of 20 Airbus A321neo aircraft. Vietnam Airlines' first A321neo entered into service in late 2018.
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Pratt & Whitney's EngineWise service portfolio provides engine operators with a variety of aftermarket services to maximize engine performance and fleet availability.
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