|
|
|
|
|
|
|
|
|
|
LATEST NEWS
|
|
Wednesday, May 11th, 2022
|
|
|
|
|
|
|
China Eastern Airlines, China’s second-largest carrier by passenger numbers has announced in a filing to the Shanghai Stock Exchange that it is looking to raise US$2.23 billion through a share sale.
|
The revenue raised will be divided between asset acquisitions and increasing working capital. Approximately US$1.78 billion will be used to fund the acquisition of 38 aircraft which will be delivered between 2022 and 2024. The planes on order are four COMAC C919s, 24 ARJ21-700s, six Airbus A350-900s and four Boeing 787-9s which currently have a list value of US$4.38 billion. In addition, China Eastern Airlines will be looking to purchase 15 flight simulators and 20 backup engines.
|
The remaining US$452.5 million will be allocated as working capital according to the filing. The filing also shows that the China Structural Reform Fund Corporation will purchase US$301.6 million of the shares, while in a separate filing it was declared that Shanghai-based JuneYao Airlines and the JuneYao Group will purchase US$1.93 billion of shares which, if successful, will take their overall stake in China Eastern Airlines to over 5%. China Eastern Air Holding Company, the controlling shareholder of the company, would invest at least US$742 million in the share sale, according to the plan. (£1.00 = US$1.23 at time of publication).
|
|
|
|
|
|
|
|
Regional turboprop manufacturer, ATR, has signed an agreement for the acquisition of two ATR 72-500 freighters from its asset management portfolio to GIG Aviation, a subsidiary of GIG Group.
|
The ATR 72-500s will initiate GIG Aviation's journey as a freighter airline. The ATR freighters will help GIG Logistics expand its network in Africa to meet the rapid growth of e-commerce in the country and strengthen the connections between communities from the different regions and sub regions.
|
With its superior economics and versatility, burning 40% less fuel and emitting 40% less CO2 than a similar-sized regional jet, ATR is the perfect fit for economical and sustainable expansion.
|
|
|
|
|
|
With multiple airlines facing crew staffing shortages to the point where the likes of easyJet and British Airways were forced last month to cut hundreds of flights, easyJet has chosen the ingenious option of removing the back row of seating from its A319 fleet of aircraft, thus enabling each aircraft to fly with fewer crew.
|
Civil Aviation Authority (CAA) regulations require a certain number of crew per plane based on seating capacity as opposed to the actual number of passengers on a flight. As a consequence, in reducing the maximum seating capacity of the A319 now to 150 passengers, this means that easyJet only needs to provide a crew of three per flight instead of four, but still meeting CAA requirements.
|
While airlines are currently recruiting heavily to replace many crew who were made redundant as a result of the disastrous effects the COVID-19 pandemic had on the travel industry, delays in obtaining security clearance for new trainees has exacerbated the current problem, though easyJet has confirmed it will be putting more resources into processing the accreditation of new staff. The low-cost carrier is confident that the seat reduction on the A319 will not greatly affect revenue despite anticipating being near 2019 passenger numbers this summer.
|
Pre-pandemic easyJet flew approximately 300,000 passengers daily and the carrier said the scheme to limit passenger numbers on the A319 will allow the airline to operate with more certainty. The change in capacity was very small as a proportion of overall summer season passenger numbers and the company reassured travellers that as the last six seats are typically booked in the final days before departure, selling a maximum of 150 tickets would not affect customers planning summer travel.
|
|
|
|
|
|
|
|
Airbus has selected MAGicALL to supply the motors of the electric vertical take-off and landing (eVTOL) aircraft CityAirbus NextGen. Airbus’ eVTOL prototype will be equipped with a tailored version of the MAGiDRIVE, the newest generation of electric motors manufactured by MAGicALL.
|
The detailed customisation of CityAirbus NextGen’s electric propulsion system will enable the prototype to benefit from features that will match its unique design, making for increased performance and reliability. The lightweight brushless motors that will be integrated into CityAirbus NextGen are a product of innovative design and manufacturing: they incorporate the latest generation of MAGicALL’s magnetics and power electronics technology.
|
The electric motors will also contribute to the seamless architecture of Airbus’ eVTOL prototype, thanks to a fully integrated solution comprising both the motor itself and its control system, as part of a fully enclosed, air-cooled propulsion unit.
|
MAGicALL is a leading supplier of electric motors based in California. Founded in 2004, the company benefits from a proven expertise in custom magnetic and power electronic solutions for the aerospace industry. MAGicALL also contributed to the development of the motors that powered Airbus’ tilt-wing UAM technological demonstrator, Vahana.
|
|
|
|
|
|
Eve Holding has announced that its common stock and warrants have begun trading on the New York Stock Exchange (NYSE) on May 10, under the ticker symbols “EVEX” and “EVEXW”, respectively.
|
The public listing follows the completion of a business combination between Zanite and EVE UAM, a leader in the development of next-generation Urban Air Mobility (UAM) solutions and a subsidiary of Embraer S.A. on May 9, 2022.
|
Eve has created a comprehensive, practical and capital-efficient UAM solution spanning electric vertical take-off and landing (eVTOL) vehicle design and production, service and support, fleet operations and urban air traffic management (UATM).
|
“We believe Eve is uniquely positioned to develop, certify and commercialise our UAM solutions on a global scale,” said Jerry DeMuro, Co-CEO of Eve. “Our pipeline of launch orders for 1,825 vehicles secured via non-binding letters of intent from 19 customers consists of industry leaders who also invested in Eve, including Azorra Aviation, Falko Regional Aircraft, Republic Airways and SkyWest and provides powerful validation of our business strategy and vision.”
|
|
|
|
|
|
|
|
One more Full-Flight Simulator (FFS) upgraded with the recent Airbus Std. 2.0, Airbus A320ceo/neo, has passed final acceptance tests and initial evaluation and is now declared “Ready for Training” (RFT) at BAA Training Spain in Barcelona. This Level-D full-scope flight compartment replica equipped with two ceo and two neo engine types was manufactured by L3Harris Technologies.
|
The state-of-the-art Airbus A320ceo/neo device complements the existing Airbus A320ceo, Boeing 737 MAX FFSs and A320 FTD Level 2 simulator at the BAA Training’s Spanish facility. It will support training for a variety of customers, including commercial airlines and individual self-sponsored pilots and keep them competitive in the market. The simulator is equipped with Rsi latest version Image Generator (XT5), NORXE P1 LED visual projectors 200x 45 Field of View and a Synergistic Six Degree of Freedom eM2k Electro-Hydraulic Motion System. Other features of this simulator include upset recovery (UPRT) capabilities, Full stall training and icing conditions, Cat C airfields simulation, Smoke system, RNP APCH.
|
|
|
|
|
|
Aviator Airport Alliance, a full-range provider of aviation services at 15 airports across the Nordics and a family member of Avia Solutions Group, has signed a new contract with PLAY, an Icelandic low-cost carrier.
|
Under the new partnership, Aviator Airport Alliance will provide PLAY with ground handling and de-icing services at two stations in Norway – Stavanger and Trondheim airports. With the newly signed contract, the companies are embarking on a two-year-long partnership.
|
While the cooperation in Norway is brand new, PLAY is already an existing client for Aviator at Copenhagen airport.
|
|
|
|
|
|
|
|
Goshawk, the Dublin-based aircraft lessor, has announced the sale of one Embraer E190 aircraft (MSN 19000547) to ACIA Aero Leasing. The sale of the E190 was successfully closed on May 6, 2022.
|
Stephen Murphy, Head of Airline Marketing at Goshawk reacted to the news, saying, “This transaction reflects the recovery of the aircraft leasing market, where lessors are once again trading aircraft to optimise their portfolio to meet their specific target asset strategies.’’
|
|
|
|
|
|
Jet Support Services (JSSI), a leading independent provider of maintenance support and financial services to the business aviation industry, has appointed Tim Elberfeld as Chief Financial Officer and named Ken Goodman as Chief Underwriting Officer. Both Elberfeld and Goodman will report directly to CEO, Neil Book.
|
Elberfeld brings more than 20 years of experience across global businesses in all aspects of finance and accounting, including M&A and system implementations, to his new role as CFO and Head of Information Technology at JSSI.
|
Elberfeld was previously at TransUnion for ten years, an information, risk and fraud prevention solutions company, where he held leadership roles including Chief Accounting Officer and Chief Financial Officer of the Africa region, based in Johannesburg, South Africa. Elberfeld began his career at PricewaterhouseCoopers (PwC) where he led cross-border engagements for clients in their execution of complex acquisitions, divestitures and carve-outs for over 12 years, including a multi-year secondment in Zurich, Switzerland.
|
|
After serving as JSSI’s CFO for six years, Goodman will now lead the organisation’s pricing, asset management and insurance efforts as chief underwriting officer. Goodman brings more than 20 years of executive financial experience, having formerly been Senior Vice President of Financial Planning and Analysis at NetJets and Vice President of Finance for real estate and stores at Victoria’s Secret.
|
|
|
|
|
|
|
|
click here to download the latest PDF edition
|
|
|
|
click here to download the latest PDF edition
|
click here to subscribe to our other free publications
|
|
AIRCRAFT & ENGINE MARKETPLACE
|
click here to view in PDF aircraft and engines available for sale and lease
|
|
|
|
|
|
|
|
|
|
Interested in advertising with AviTrader?
|
|
Vice President Sales & Business Development
|
|
|
|
|
