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Monday, October 15th, 2018
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LATEST NEWS
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Embraer has introduced the new Praetor 500 midsize and Praetor 600 super-midsize business jets during a company event at Orlando Executive Airport, where the 2018 National Business Aviation Association’s Business Aviation Convention and Exhibition (NBAA-BACE) will be held from October 16-18. The new Praetor 500 and Praetor 600 will be on static display during NBAA-BACE.
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“The Praetor 500 and Praetor 600 are the disruptive aircraft for the entrepreneur, for the pioneer, for the innovator,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “The Praetors are aircraft certainly in keeping with their name, leading the way in redefining the characteristics of what a midsize and super-midsize aircraft deliver to the market. The introduction of these aircraft support our vision of fascinating our customers and providing them with superior value and the best experience in the industry.”
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The Praetor jets will introduce unprecedented range into their categories. According to Embraer, the Praetor 600 will be the farthest-flying super-midsize business jet, which allows nonstop flights between London and New York. The Praetor 500 will be the fastest midsize aircraft, capable of reaching Europe from the west coast of the U.S. with a single stop. With four passengers and NBAA IFR Reserves, the Praetor 600 will have an intercontinental range of 3,900 nautical miles (7,223 km) and the Praetor 500 will lead the midsize class with a continental range of 3,250 nautical miles (6,019 km).
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The Praetor jets are currently under development with two Praetor 600 prototypes in flight tests as well as one production-conforming aircraft, and one production-conforming Praetor 500 in its maturity campaign. The Praetor 600 is expected to be certified and enter service in the second quarter of 2019, followed by the Praetor 500 in the third quarter of 2019.
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Harris Corporation and L3 Technologies have agreed to combine in an all stock merger of equals to create a global defense technology leader, focused on developing differentiated and mission critical solutions for customers around the world.
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Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, L3 shareholders will receive a fixed exchange ratio of 1.30 shares of Harris common stock for each share of L3 common stock, consistent with the 60-trading day average exchange ratio of the two companies. Upon completion of the merger, Harris shareholders will own approximately 54% and L3 shareholders will own approximately 46% of the combined company on a fully diluted basis.
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The combined company, L3 Harris Technologies, Inc., will be the 6th largest defense company in the U.S. and a top 10 defense company globally, with approximately 48,000 employees and customers in over 100 countries. For calendar year 2018, the combined company is expected to generate net revenue of approximately US$16 billion, EBIT of US$2.4 billion and free cash flow of US$1.9 billion.
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S7 Airlines has taken delivery of the airline's first 737 MAX, via lease from Air Lease Corporation (ALC).
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S7, operated by Globus Airlines, becomes the first Russian airline to fly the new and improved 737 airplane. S7 plans to take 10 more 737 MAX jets over the next few years as part of its strategic plan to strengthen its airplane fleet.
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Comparing itself to the French government which holds a 14.3% stake in Air France, the Italian Deputy Prime Minister, Luigi Di Maio has indicated the Italian government may take as much as a 15% stake in a relaunched Alitalia. The flag-carrying airline was put under special administration and ceased operations last year after it’s major shareholder, Etihad Airlines, withdrew the offer of a €2 billion (US$2.32 billion) financing package subsequent to unions rejecting an aggressive restructuring proposal which included the loss of approximately 2,000 jobs.
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According to details given by Di Maio in an interview with Italy’s daily financial newspaper Il Sole 24 Ore, the new carrier will begin with market capital of between €1.5 and €2.0 billion (US$1.74 and US$2.32 billion) and that the carrier will have to "purify itself of everything that has not worked until now."
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Confirming that Ferrovie Dello Stata (the Italian railway) and one or more international investors will be involved, Di Maio refused to confirm or deny that either China Eastern or Delta Air Lines were also interested in taking a substantial stake in the new Alitalia. Initially it had been hoped that formalities regarding new owners would have been concluded by April of this year, but the Italian government chose to postpone matters owing to March’s general election and the change in government.
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While Cassa Depositi e Prestiti, the Italian state lender, has indicated it could help with the funding of a new fleet of aeroplanes, Di Maio also indicated that if state-controlled companies like oil major Eni, the Post Office, and defence company Leonardo wanted to get involved, “it would be interesting,” also forecasting that a binding offer or serious expression of interest would likely arrive by the end of the month.
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Danish MRO Skyways Technics has opened its brand new facilities located next to Subang Airport. The compound consists of EASA approved shops, along with increased warehousing and offices surface.
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With an extensive experience in regional aircraft composite repairs from its main base in Europe, Skyways Technics A/S targets to consolidate its reputation on structure and component MRO on the Asia-Pacific market.
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Since 2014, Skyways Technics Asia has already responded to Asian carriers’ demand through its pool of ATR42 and ATR72 leading edge and engine air intakes. Bi-turboprop operators can now send their components to Malaysia and save on TAT and freight cost, as well as benefit from a time and cost efficient service and support.'
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StandardAero has signed a three year agreement with Air Methods to support their fleet of Airbus Helicopters AS350 and EC130 dynamic components.
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Over the course of this agreement, StandardAero will provide expert-level repair, light and major overhaul, testing, and modification of dynamic components for Air Methods’ fleet of more than 120 AS350 and EC130 helicopters. All services will be completed at StandardAero’s Airframe Center of Excellence located in Vancouver, BC.
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As an approved Airbus Helicopters Repair Center, StandardAero possesses extensive dynamic component repair and overhaul capabilities for the popular H125/AS350, AS355 and H130/EC130 helicopter models, and also provides rental and exchange assets to its customers. In November 2017, StandardAero’s amended license extended these capabilities further to include global operators outside of North America as well, with services being offered to customers worldwide and conducted at StandardAero’s Vancouver, BC and Almondbank, Perth locations.
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Inlet Barrier Filters (IBFs) from Donaldson Aerospace & Defense, a division of Donaldson Company, can now be offered and installed as a factory option on new AW189 helicopters.
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Donaldson IBF achieved the EASA certification for its installation on AW189s. The IBFs keep contamination, including dirt, dust, salt and foreign objects, from degrading the performance and reliability of the AW189’s turboshaft engines and auxiliary power units (APUs).
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“Donaldson is pleased to work with Leonardo Helicopters providing its contribution to the highest performance and reliability of AW189s,” said Dan Larsen, general manager of Donaldson Aerospace & Defense. “Our innovative filtration technology, featuring Synteq XP™synthetic non-woven media, is ideally suited to this advanced technology helicopter.”
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Donaldson IBFs are also approved as a factory option on new AW139 helicopters and are available to the aftermarket.
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Boeing and SpiceJet celebrated the delivery of the carrier's first 737 MAX 8. The airline plans to use the 737 MAX to expand and standardize its fleet, while leveraging the super-efficient jet to reduce fuel costs per airplane by US$1.5 million a year.
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This is the first of up to 205 737 MAX airplanes SpiceJet has announced with Boeing. The new and improved single-aisle airplane will help SpiceJet lower its emissions output, which is a key initiative for the carrier as it looks to increase regional and international routes.
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SpiceJet's new 737 MAX airplanes arrive at a time when India's commercial aviation market continues to grow at significant rates. According to industry data, domestic air traffic in India has grown about 20 percent in each of the past four years with an upward growth trajectory going forward.
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BOC Aviation has reported its operational transactions for the third quarter ended 30 September 2018. BOC Aviation had a total of 499 aircraft owned, managed and on order, with an average aircraft age of 3.1 years and an average remaining lease term of 8.2 years for the 294 owned aircraft fleet, weighted by net book value.
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The company had an order book of 179 aircraft at the end of the third quarter and took delivery of 9 aircraft during this time, including one acquired by an airline customer on delivery and had signed 35 lease commitments. BOC Aviation's managed fleet comprised of 26 aircraft.
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The company had a customer base of 89 airlines in 34 countries and regions in the owned and managed portfolios.
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The total number of aircraft delivered and scheduled to be delivered in 2018 is 52, all of which have been committed for lease and six of which have been or are expected to be acquired by airline customers on delivery. Six aircraft that were originally scheduled for delivery in 2018 have been deferred to 2019 as a result of manufacturer production delays.
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FLYHT Aerospace Solutions has acquired the asset of Panasonic Weather Solutions (PWS), based in Littleton, Colorado, from Panasonic Avionic Corporation (PAC).
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Currently serving more than a dozen airlines in North America, Europe and Southeast Asia, PWS provides Iridium satellite communications systems, aircraft tracking and alerting, the FlightLink™ Iridium Satellite Data Unit, and Tropospheric Airborne Meteorological Data Reporting (TAMDAR™) sensors.
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The assets FLYHT is acquiring include among other things, 27 employees; 10 service contract with airlines in North America, Europe and Southeast Asia, including a major Asian carrier; an Iridium Value Added Reseller (VAR) license, and a Federal Aviation Administration Parts Manufacturer Approval (PMA) capability; the technology and intellectual property for the FlightLink™ Iridium Satellite Data Unit and Tropospheric Airborne Meteorological Data Reporting (TAMDAR™) sensor; and a weather observation contract through a third party that supplies weather data observations to NOAA (the National Oceanic and Atmospheric Administration).
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Pursuant to a transition agreement between the parties which ends March 31, 2020, FLYHT and PAC will work closely together to complete several ongoing FlightLink and TAMDAR deployment programs, while also providing Tier 1 and warranty support via PAC’s Customer Performance Center and Panasonic Technical Services’ facilities. This Transition Period will give FLYHT time to integrate business and operational functions between its Calgary, Alberta and PWS’ Littleton, CO locations. In addition, to keep the asset acquisition cash-flow neutral to FLYHT during this period, PAC will pay FLYHT a subsidy of US$3.3 million PAC’s total subsidy can be increased or reduced if FLYHT’s income relating to the acquired PWS assets falls short of or exceeds certain agreed upon thresholds. Pursuant to the terms of the acquisition of PWS assets and the transition agreement, FLYHT is paying no monetary consideration to PAC for the PWS assets.
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Seal Dynamics, a subsidiary of HEICO Corporation, has partnered with Ducommun to distribute Ducommun’s Engineered Products to the commercial and military aerospace markets.
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Dave Wilmot, Vice President and General Manager of Ducommun Engineered Products, stated, “Seal Dynamics is the perfect partner for Ducommun. Their culture, vision and passion, combined with their level of technical knowledge and market intelligence, provides a great value proposition among the best in the industry. We are confident that with their understanding of the competitive landscape for our products, Seal Dynamics will drive new business opportunities for Ducommun. They consistently deliver exceptional service that will provide a global aftermarket solution for our commercial and military customers across all markets.”
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