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LATEST NEWS
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Thursday, September 2nd, 2021
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Aircraft leasing company Griffin Global Asset Management is expanding its commercial aircraft portfolio with five new Boeing 737-8 jets. The purchase is Griffin’s first direct order with Boeing as it sees strategic opportunities to place the airplanes during the market recovery.
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“As market conditions rebound, we are finding opportunities to serve our airline customers in innovative ways. An important component of this strategy is providing balanced capacity that meets returning passenger demand. The 737-8 is well-positioned to support this objective, and this order lays a strong foundation for more to come with Boeing and Griffin on future opportunities,” said Ryan McKenna, founder and CEO of Griffin.
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Pierre Teboul has been appointed Senior Vice President Commercial of AFI KLM E&M. Previously responsible for components customer support and product performance within Air France Industries, Teboul is taking over from Fabrice Defrance, who is retiring, as AFI KLM E&M Senior Vice President Commercial.
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With the help of his teams, he will continue to develop the commercial presence of AFI KLM E&M and its network with operators and all its customers and partners around the world.
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Helidax selects ADSOFTWARE to replace its MRO and CAMO management software and accompany its growth. The project will start immediately and covers the implementation of the CAMO and MRO management solutions, training and additional developments specifically requested by Helidax.
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Helidax puts its fleet of 36 H120 and 18 AS550 at the disposal of the French Defence Ministry through two contracts: the first contract is a pioneering agreement that aims at maintaining a high level of fleet availability for pilot training while reducing operational costs, the second contract assigns the comprehensive fleet management responsibility to a unique provider; illustrating the new MOC approach of the Ministry. In this context the selected software solution will play a key role in attaining these objectives.
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This contract marks another important milestone for ADSOFTWARE as this is the largest military contract signed by the company to date.
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Israel Aerospace Industries (IAI) has resumed the production of F-16 wings for Lockheed Martin, using the assembly line established in the 1980s. IAI recently reopened the production line following increased worldwide demand for the F-16 Block 70/72.
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IAI will produce F-16 wings that will be shipped to the F-16 final assembly line in Greenville, South Carolina, U.S.A. The F-16 is a strategic and valuable choice for many customers around the world seeking advanced, fourth-generation fighter aircraft capabilities, regional and worldwide partnerships, and affordable lifecycle costs. Five nations have chosen the F-16 Block 70/72 for these reasons and more.
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The Republic of Kazakhstan has placed an order for two Airbus A400M aircraft and becomes the ninth operator together with Germany, France, United Kingdom, Spain, Turkey, Belgium, Malaysia, and Luxembourg.
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With delivery of the first aircraft scheduled in 2024, the contract includes a complete suite of maintenance and training support. Together with the agreement a memorandum of understanding has also been signed to collaborate on maintenance and overhaul services and with a first step of creating a local C295 maintenance center.
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Goshawk, the Dublin-based global aircraft lessor, has entered into an agreement to issue US$202.5 million of new unsecured US Private Placement (USPP) notes.
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This latest announcement represents Goshawk’s fourth unsecured USPP issuance following previous issuances in 2016, 2017 and 2018 and is highly significant as it makes the company the first aircraft lessor to access the unsecured USPP market since the COVID pandemic struck. The Issue comprises tranches of five-, seven- and ten-year notes and the transaction successfully priced on August 12, 2021, achieving Goshawk’s lowest blended coupon in the unsecured USPP market.
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Royal Aero has announced the delivery of the first of six B737-700 aircraft from COPA Airlines, Panama, to Roswell, New Mexico. The serviceable life of the CFM56-7B engines will be utilized and the component parts recycled from the airframe. In enabling the continued use of the engines and the refurbishment of the airframe parts, new manufacturing is avoided, thereby reducing the carbon footprint of aviation.
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Royal Aero is an aircraft and engine trading and leasing company with offices in Miesbach – Germany, Horsham – U.K., and Wisconsin – U.S.A. Royal Aero has transacted 24 aircraft and engine trades since the beginning of COVID and this acquisition will be an additional 18 assets to be traded in 2021. Royal Aero operates with syndicated finance provided by two German and two Austrian banks, led by Commerzbank
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IBA, the aviation data advisory consultancy, has highlighted the difference in the rate of recovery from the pandemic of turboprops and regional jets.
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Data from IBA’s InsightIQ platform indicates signs of recovery in regional jet fleet utilization. Fleets were stored or parked in large numbers in August 2020, with only 49% of Embraer E190 aircraft active. A year on, fleet usage has grown with E190 fleet utilization rising to 70% – a significant increase although still behind the 89% pre-pandemic utilization levels in August 2019.
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By contrast, turboprops are seeing a slower return towards pre-pandemic levels than regional jets. As an example, the pre-pandemic utilization of the global ATR72-500 fleet was at 73% in August 2019, dropping to just 49% at the same time in 2020, and having only made a slight recovery to 54% in August 2021.
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Looking at utilization of these two aircraft classes across different global regions, turboprops continue to see increased activity across North America, Europe & CIS and Latin America, with moderate declines in activity tracked in Africa and Asia Pacific. Meanwhile, regional jets are tracking downwards in Asia Pacific and the Middle East but upwards in all other regions.
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There have already been a considerable number of orders for regional jets so far this year, with 100 having been placed already – compared with a total of 171 for the duration of 2019. Conversely, orders for turboprops are yet to recover with just 3 registered orders having been made in 2021. This contrasts with the 63 ordered in 2019.
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Both regional jet and turboprop values have begun to stabilize following a steep decline because of the pandemic, with the value profiles of E190LR and ATR72-500 models beginning to track base values again – albeit at a market value approaching soft value in many cases. Base values are unchanged for now but remain on watch.
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Secondary market trading volumes for regional aircraft have made a strong recovery, with further gains expected to be driven by M&A in the sector. Based on current transaction levels, IBA estimates that the number of events in 2021 will be 921 – compared with a total of 1,082 in 2019. The E190AR has been involved in the most transactions so far in 2021, totaling 62.
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CHC Helicopter Group (CHC) has completed the acquisition of Babcock International’s offshore oil and gas aviation business. The acquisition reinforces CHC’s global position, increases its offshore crew transportation capacity and expands its fleet by around 30 aircraft across the U.K., Denmark, and Australia.
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Babcock International’s operations in the U.K., Australia, and Denmark will be held separately and operate independently from CHC, while CHC seeks approval from the relevant competition authorities in the UK and Australia.
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David Balevic, CHC President and Chief Executive Officer, said: “This acquisition is a great success, opening new and broader opportunities for CHC both in existing markets like Australia and the North Sea, and in new areas. It further cements CHC’s position as one of the world’s leading providers of helicopter transportation to oil and gas, Search and Rescue and renewables customers.”
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Atlas Air has signed a Memorandum of Agreement to enter into a joint venture with Sharp Technics K to develop a dedicated maintenance, repair and overhaul (MRO) facility at Incheon International Airport (ICN) in South Korea. The maintenance facility is expected to open in 2025.
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Sharp Technics K President Soon-Suk Paik said his company is honored to partner with Atlas Air on this custom freighter aircraft maintenance facility. “This facility at Incheon Airport will be able to accommodate multiple wide-body aircraft at the same time, enabling the facility to contribute to the growth of airfreight and e-commerce on a global scale as ICN expands its role in the MRO aviation industry,” Mr. Paik said
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