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LATEST NEWS
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Thursday, June 2nd, 2022
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Lilium N.V. (Lilium) has announced that Klaus Roewe, long-time Airbus executive, is to join the company on August 1, 2022, as its new CEO. Roewe is a highly respected industry veteran who led Airbus’ most important business line, the A320 and A320neo programmes, to unprecedented success during his tenure: improving aircraft performance, doubling EBIT, cutting unit costs, while increasing market share and FCF, making it the most successful large commercial aircraft programme of all time.
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Daniel Wiegand who is the current CEO and co-founder of Lilium which developed the first all-electric vertical take-off and landing (eVTOL) jet, will continue as Lilium’s Chief Engineer for Innovation and Future Programmes as well as a Board Director.
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“The Board ran an extensive global CEO search and are genuinely excited with the appointment of Klaus Roewe. We believe adding Klaus as CEO will give us unparalleled executional leadership to complement Lilium’s innovative DNA as we continue the development of the Lilium Jet and advance towards Type Certification and scale production – Klaus has a breadth of operational experience that is very rare in our industry” said Lilium Chairman, Tom Enders.
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“I am absolutely thrilled to have Klaus Roewe as our next CEO - I firmly believe that he is the right person to lead us through this next phase; and adding him gives Lilium the ideal mix of Silicon Valley innovation with deep aerospace know-how,” said Daniel Wiegand.
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“I’m proud to be joining the most innovative and differentiated eVTOL company in our industry,“ said Klaus Roewe, adding: “I look forward to working with all the Lilium teams to advance the development of our aircraft and to drive Lilium’s success in revolutionizing sustainable air transport.”
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Sky High Aviation (Sky High), an airline based in the Dominican Republic, has taken delivery of its first Embraer E190 passenger jet – becoming the only E-Jet operator based in the Caribbean. The first of two E190s being provided by regional aircraft lessor, TrueNoord, arrived last week at Las Americas José Francisco Peña Gómez airport after transition works were completed at Embraer’s MRO facility in Macon, Georgia, U.S.A. The second E190 is to be delivered to Sky High this month.
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The addition of the E190s will bring a new level of comfort for passengers and open new international routes from the region. Sky High currently operates a fleet of two 50-seater Embraer ERJ 145s flying to ten island destinations in the Caribbean. The E190s have been configured in a comfortable dual-class layout with 98 seats and will serve Sky High’s existing destinations as well as opening new international routes to the United States, Central and South America.
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Safran Landing Systems Canada has been awarded a contract by Lockheed Martin to provide the design, development and qualification of a landing gear structure for a future aircraft. This new structure will include a clean sheet design of the nose and main landing gear.
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“We are honoured to work with Lockheed Martin on a high-technology value proposition for this future platform,” says Deane Weatherby, President of Safran Landing Systems Canada. “Safran Landing Systems will apply its engineering expertise in structural and full landing gear systems to this project to meet demanding requirements in today’s market.”
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This work, to include all landing gear qualification testing, will be completed by the team at Safran Landing Systems Toronto, Canada.
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Ethiopian Airlines (Ethiopian) has begun nonstop flights from Dulles International Airport (IAD) to Lomé, Togo (LFW). With the inaugural flight lifting off on June 1, 2022, the route will be operated three times a week providing more flight options and convenient connections to the rest of Africa. The new service between IAD and LFW will help link Ethiopian’s network of U.S. passengers throughout Africa.
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In addition to the new flights through IAD, Ethiopian has four passenger routes to the U.S., all operating outbound via Dublin or Lomé to Chicago O’Hare International Airport (ORD), Newark Liberty International Airport (EWR) and John F. Kennedy International Airport (JFK). In a typical month, Ethiopian services 21 weekly bookable departures to Africa from the U.S.
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A member of Star Alliance, Ethiopian currently operates more than 128 of the youngest and most modern fleet with service to 62 cities in Africa and more than 127 international passenger and cargo destinations across five continents.
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Nordic Aviation Capital Designated Activity Company (NAC or the Company) has successfully exited from the Chapter 11 restructuring process, having received confirmation of its Plan of Reorganization from the Bankruptcy Court on April 19, 2022. The Company emerges well-positioned for the future having eliminated nearly US$4.1 billion of debt, while significantly enhancing its liquidity, with access to approximately US$537 million in additional capital to fund operations and growth opportunities.
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Since September 2021, NAC has focused on four key strategic initiatives, including right sizing the balance sheet, driving organisational change, stabilising the portfolio and pivoting towards growth. Progress has been made across all initiatives and the Company is on track for recovery and growth, supporting its aim to remain the global leader in regional aircraft leasing and expand into adjacent single-aisle areas by leveraging its world-class asset management platform.
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As outlined in NAC’s Plan of Reorganization, NAC has appointed a new board of directors effective immediately. The board will be led by Chairman Klaus Heinemann and President & CEO Norman C.T. Liu with the support of non-executive directors Justin Bickle, Patrick Blaney, Martin Cooke, Paul O’Donnell, Catherine Duffy and Dermot Mannion.
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The exit follows recent rating announcements for the Company. S&P assigned Issuer Credit Ratings of ‘B’ to Nordic Aviation Capital DAC and Nordic Aviation Capital 29 and a ‘B’ issue-level rating to Nordic Aviation Capital 29 Senior Secured Notes and Senior Secured Term Loan B, with a stable outlook. Moody’s assigned a Corporate-Family Rating of ‘B2’ to Nordic Aviation Capital DAC and a ‘B2’ issue-level rating to Nordic Aviation Capital 29 Senior Secured Notes and Senior Secured Term Loan B, with a stable outlook.
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Collins Aerospace is advancing digital aviation solutions that make flight more efficient and sustainable with FlightHub, its new Electronic Flight Folder accessible from an aircraft’s Electronic Flight Bag (EFB). FlightHub centralises data sources and workflows for pilots and airlines, coordinating the lifecycle of an entire flight from start to finish.
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Collating information into a single stream, FlightHub gives customers fast and easy access to all their flight information, from pre-flight documents, like flight plans and weather information, to post-flight summaries with actual timing and fuel burn reports.
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FlightHub customers will also get access to Collins’ new Flight Profile Optimisation (FPO) solution that delivers real-time route recommendations throughout a flight to help reduce CO2 emissions by saving fuel and time. Set for release later this year, FPO provides flight path information taken from multiple aircraft and ground sources for more up-to-date information than what is generally obtained from the operational flight plan (OFP) and the flight management system (FMS), which can be several hours old. In aggregate, airlines using FPO could see up to 1% annual savings on fuel per year.
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Aergo Capital (Aergo) has secured a US$17.5 million loan facility from volofin to assist in the finance and acquisition of five De Havilland Dash 8-400 aircraft on lease to Porter Airlines.
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Fred Browne, Chief Executive Officer of Aergo, commented: “We are delighted to have successfully completed the financing of the five-turboprop aircraft on lease to Porter Airlines. Aergo is very happy to complete this third financing transaction with volofin and we are looking forward to doing more business together in the future”.
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Stewart Tanner, Senior Managing Director at volofin, said: “We are very pleased to have worked with Aergo and Porter with their respective legal teams, and to further grow our relationship with the team at Aergo”.
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Smith, Gambrell & Russell, LLP acted as lead counsel to Aergo. Clyde & Co acted as lead counsel to volofin.
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