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LATEST NEWS
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Wednesday, April 20th, 2022
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AviaAM Leasing, a global aviation holding company engaged in tailored aircraft leasing and trading services, continues its Passenger-to-Freighter (P2F) conversion project, acquiring one more Boeing 737-800.
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Since the beginning of AviaAM Leasing’s Passenger-to-Freighter (P2F) conversion project in March 2021, when the first Boeing 737-800 was acquired, the company has been successfully expanding the list of its assets. Now one more Boeing 737-800 aircraft has been purchased with the goal of converting it into a marketable freighter aircraft, taking the business one more step closer to its commitment of having 25 converted aircraft of different types in the upcoming four years.
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The aircraft was already ferried to the Taikoo (Shandong) Aircraft Engineering Company (STAECO) facility in Jinan (TNA), China, where in the upcoming four months it will undergo passenger-to-freighter conversion works provided by Boeing.
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Brazilian planemaker Embraer has announced that in the first quarter of 2022 it delivered six commercial jets and eight business jets (of which six were light and two were large). The company currently has an order backlog to the value of US$17.3 billion (£13.3 million). Embraer also confirmed that in 2021 it sold 56 Phenom 300 series light jets while the annual average since the jet was introduced in 2009 has been 50 jets sold.
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Executive Aviation sales has displayed continued growth throughout the first quarter of 2022. Two more contracts were signed with the Brazilian army in the year’s first quarter. This included the Army’s acquisition of four additional SABER M60 radar units, in its 2.0 version, and the second for the development and deployment of Phase Two of the Army's Strategic Program for the Integrated Border Monitoring System (SISFRON).
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The Services and Support segment of Embraer has reported the signing of a long-term comprehensive services agreement with Air Pease in support of its fleet of ERJ 145 and E195-E2 aircraft. The contract includes access to the Pool Program, which includes component exchange and repair services for hundreds of items on Air Peace's Embraer aircraft, and the installation of Ahead-Pro (Aircraft Health Analysis and Diagnosis - PROgnosis) in the E195-E2 company's fleet. Embraer has Also reported the long-term extension of its Pool Program with German Airways.
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Nordic Aviation Capital Designated Activity Company (NAC) has released that the U.S. Bankruptcy Court for the Eastern District of Virginia has confirmed the company’s plan of reorganization, which should enable the company to emerge from Chapter 11 before the end of May. The plan was approved by the court with the consent of the company’s existing equity holders and over 99% of voting creditors voting in favour of the plan, reflecting broad consensus among the company’s stakeholders.
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The plan, which will take effect upon emergence, will reduce NAC’s total outstanding debt by US$4.1 billion pursuant to various equitization, sale, and recapitalisation transactions. With an infusion of nearly US$540 million in new capital through approximately US$337 million in new equity financing and US$200 million in new revolving credit loans, the plan achieves significant financial flexibility to support continued investment in the long-term growth of the company. Additionally, the Plan will extend existing funded debt maturities and effectuate the orderly exit of certain creditor groups from the reorganised NAC structure. Critically, NAC’s restructuring will preserve the strength of the platform and the long-standing relationships the company maintains with its customers and suppliers. The company will maintain its position as one of the largest lessors globally, with over 350 aircraft on lease to a diverse customer base.
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Lockheed Martin Corporation has reported first-quarter 2022 net sales of US$15.0 billion, compared to US$16.3 billion in the first quarter of 2021. Net earnings in the first quarter of 2022 were US$1.7 billion, compared to US$1.8 billion in the first quarter of 2021. Cash from operations was US$1.4 billion in the first quarter of 2022, compared to US$1.7 billion in the first quarter of 2021. Free cash flow was US$1.1 billion in the first quarter of 2022, compared to US$1.5 billion in the first quarter of 2021.
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"Lockheed Martin had a solid start to the year by delivering margin expansion and free cash flow above our expectations despite recent COVID-surge impacts on our operations and supply chain. We remain confident in our guidance for the remainder of the year and our growth outlook beyond," said Lockheed Martin Chairman, President and CEO James Taiclet.
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Bombardier will begin a new era in Wichita, U.S. Bombardier’s footprint in Wichita includes an expanding service centre that supports Bombardier’s entire family of Learjet, Challenger and Global business jets. The site also continues to operate one of the leading flight test centres that performs testing and certification of aircraft upgrades on all new Bombardier aircraft programmes, including the ongoing certification campaign for the Challenger 3500 jet.
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Wichita is also home to the newly renamed Bombardier Defence, reflecting the company’s strategic expansion of its existing Specialised Aircraft division. The expanding defence market is a key area of growth for the company. With the reinvented Bombardier Defence, led by Steve Patrick – Vice President Bombardier Defence, the company will leverage Original Equipment Manufacturer (OEM) design, manufacturing and certification expertise to provide agile, innovative solutions hosted on Bombardier’s class leading aircraft platforms. This centre of excellence for defence applications, technology and innovation fully leverages the Wichita workforce and local industry.
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Bombardier Defence also confirmed additional firm orders for modified versions of its Global 6000 aircraft, as part of a potential US$465 million order from the United States Air Force (USAF) in support of the Battlefield Airborne Communications Node (BACN) programme. Last year, Bombardier was awarded the sole-source engineering and modification Indefinite Delivery Indefinite Quantity (ID/IQ) contract from the USAF to modify up to six Global 6000 business jets to become E11-A BACN platforms. Bombardier Defence will continue to leverage Wichita’s highly reputed expertise to provide in-service support and upgrades to the USAF’s expanding BACN fleet, underscoring Bombardier’s status as a key U.S. aerospace employer.
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With the announcement of Wichita as the company’s U.S. headquarters, Bombardier also announced that Tonya Sudduth, former Vice President of Operations, Wichita site, has accepted the newly created role of Head of U.S. Strategy. Based in Wichita, Sudduth will lead Bombardier’s U.S. strategy, leveraging her extensive knowledge and rich aerospace experience to build strong relationships with key stakeholders in the community, government and industry to further strengthen and grow Bombardier’s presence across all its sites in the U.S.
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A new aircraft management and charter operator/broker is launching in Vienna from April 2022. SKYSIDE is open for business offering aircraft management, charter options, CAMO services and aircraft delivery as part of an integrated asset management strategy.
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Thorsten Kinzl, Manager of Skyside said: “We decided for Vienna as the place of business for our AOC. Austrian Aviation standards deliver the highest levels of safety, reliability and expansion options. Being in the centre of Europe, means we can serve customers from all over the continent and the Middle East.”
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SKYSIDE is part of a European group of companies that has a network of offices and customer representatives all around the world. The foundation of SKYSIDE completes the asset management portfolio by integrating aviation into its one stop, boutique approach for its clients.
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Four weeks ago, the crash of a China Eastern Airlines (China Eastern) Boeing 737-800 which killed all 132 passengers and crew on board saw the carrier suspend all flights involving its fleet of 223 of the aircraft. Having carried out extensive systematic tests on each aircraft to include structural checks and airworthiness data, a final flight test on each of the jets will be carried out before it returns to service.
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According to Reuters news agency, those planes which have registration numbers which are close to that of the crashed aircraft are presently going through maintenance checks and evaluation. According to Flightradar24, data showed earlier on Sunday April 17 that China Eastern flight MU5843, operated by a three-year-old Boeing 737-800 aircraft, took off from the southwestern city of Kunming at 09:58 a.m. local time on Sunday and landed at 11:03 a.m. in Chengdu, also in southwestern China. That particular aircraft had undergone a test flight on Saturday 16 April.
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On March 21, China Eastern flight MU5735 was en route from Kunming to Guangzhou when it crashed in the mountains of Guangxi, killing 123 passengers and nine crew in mainland China's worst aviation disaster for 28 years. Both black boxes have been retrieved and Chinese authorities have stated that they would submit a preliminary report to the U.N. aviation agency ICAO within 30 days of the event.
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