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Thursday, February 7th, 2019
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Aircastle Limited (Aircastle), which acquires, leases and sells commercial jet aircraft to airlines throughout the world, is looking to challenge the latest court decision concerning its attempts to repossess aircraft on lease to Avianca Brazil, which has failed to meet the necessary payment schedule. The latest ruling by a Brazilian judge has given Avianca a ‘stay of execution’ by
prohibiting Aircastle from taking back possession of the aircraft before mid-April, providing lease payments recommence on February 1, 2019. Aircastle is under the impression that the judge’s decision contravenes established Brazilian law and the Cape Town Convention, adopted by Brazil, which sets down international rules for the repossession of aircraft and is subsequently already appealing the decision.
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Mike Inglese, Aircastle's CEO, stated, "A predictable judicial system and reliable framework for the recovery of aircraft is a principal factor in the cost and availability of capital to airlines. Brazil is the third largest civil aviation market in the world and the country's aviation industry has benefitted from its adoption of Cape Town, enabling Brazil to attract significant foreign capital. While we were fully prepared for an unfavorable ruling, we remain hopeful that the Brazilian Judiciary will respect the rule of law and honor their obligation under The Cape Town Convention. We still expect to
recover our aircraft on a timely basis."
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Mr. Inglese continued, "Our aircraft being operated by Avianca Brazil are modern, desirable aircraft and we expect the aircraft to be placed in a timely manner after repossession. In addition to
leasing aircraft to Avianca Brazil, we provide financing to other major airlines in Brazil and have commitments to purchase almost US$1 billion in Embraer E2 next generation regional jet aircraft. We believe the judge's decision will negatively impact Brazil's civil airline industry with higher costs and less funding."
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Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle ASA has signed an agreement for the sale of two Airbus 320neo aircraft.
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The aircraft are currently leased out and thus not operated by the Company. Delivery will take place during February 2019. The transaction is expected to increase the Company's liquidity by US$26 million after repayment of debt and have a positive equity effect. Sale proceeds will be used to repay debt and to increase the Company´s liquidity.
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The sale is in line with the Company’s strategy of capitalizing on the scale built up over the last few years and the changed focus from growth to profitability. This announcement is an extension of the information provided in the stock exchange announcement “Norwegian strengthens its balance sheet through a fully underwritten rights issue of NOK 3 billion” on 29 January, where sale of
aircraft was highlighted as a measure to reduce capital expenditures, in addition to postponement of aircraft deliveries.
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Bombardier Commercial Aircraft has officially introduced the new CRJ550 aircraft, the first triple-class 50-seat aircraft, designed to meet the expectations of today’s passengers. The CRJ550 is a new CRJ Series aircraft model, with a new type certificate based on the CRJ700. United Airlines is the launch customer of this new model.
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“The new CRJ550 model is the only solution in North America that can replace the existing fleet of ageing 50-seaters, a market of over 700 aircraft, said Fred Cromer, President, Bombardier Commercial Aircraft. It offers improved passenger experience with ample on-board storage for
carry-on bags and more passenger living space. This is one more example of how we are focusing on creating value for our customers and a very important endorsement from United in regards to the CRJ platform.”
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The CRJ550 will feature a self-serve beverage and snack station and more overall legroom per seat, in addition to all the benefits for which the CRJ Series aircraft are known.
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France and Germany have awarded the first-ever contract – a Joint Concept Study (JCS) – to Dassault Aviation and Airbus for the Future Combat Air System (FCAS) programme.
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The decision by both countries represents a milestone to secure European sovereignty and technological leadership in the military aviation sector for the coming decades. Starting date for the two-year study is 20 February 2019.
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Eric Trappier, Chairman and CEO of Dassault Aviation, said: “This new step is the cornerstone to ensure tomorrow’s European strategic autonomy. We, as Dassault Aviation, will mobilize our competencies as System Architect and Integrator, to meet the requirements of the Nations and to keep our continent as a world-class leader in the crucial field of Air Combat Systems.”
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This planned Next Generation Weapons System will consist of a highly capable manned “New Generation Fighter” (NGF) teaming with a set of new and upgraded weapons as well as a set of unmanned systems (Remote Carriers) linked by a Combat Cloud and its Ecosystem embedded in a
System-of-Systems FCAS architecture.
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Aviation aftermarket parts supplier AvAir is under new ownership. Backed by a globally recognized investment group, AvAir President Mike Bianco is now CEO via a management-led buyout with a new equity partner, Corrum Capital.
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Bianco’s bold leadership paired with Corrum Capital’s institutional expertise in the transportation and aviation industrie will forge an aggressive, yet strategic path forward intended to fuel growth and expand AvAir’s global reach.
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As part of the buyout, Jason Cipriani, co-managing partner of Corrum Capital Management and Michael Robinson, senior advisor to Corrum Capital Management, will join AvAir’s board of directors, working closely alongside Bianco and his team.
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AvAir founder Robert Ellis will remain with the company in an advisory capacity and serve as a member of the company’s board of directors, to support a successful rollout of the renewed strategic vision for the expanding enterprise.
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Safran Aircraft Engines and MTU Aero Engines have announced their partnership to jointly lead the development, the production and the after-sales support activities of the new engine that will power the next-generation combat aircraft, as part of the Franco-German Future Combat Air System (FCAS). The aircraft will enter into service by 2040 to complement the current generation of Eurofighter and Rafale fighter aircraft.
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Both partners are willing to ensure a strong and effective management of the program, and to supply the Forces with their longstanding experience in military engines, the best technologies and innovative engine architecture.
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In the frame of this partnership, Safran Aircraft Engines will take the lead in engine design and integration, and MTU Aero Engines will take the lead in engine services. MTU Aero Engines will be in charge of the low and high-pressure compressors and the low-pressure turbine, while Safran will be responsible for combustor, high-pressure turbine and the afterburner. The existing joint venture Aerospace Embedded Solutions (AES) will be in charge of the engine control hardware and software under the responsibility and the lead of Engine integrator (Safran Aircraft Engines). The intention is to achieve a balanced French-German industry program share, assuming balanced funding by France and Germany.
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Embraer Defense & Security and its partner Sierra Nevada Corporation (SNC) were awarded a contract to deliver 12 A-29 Super Tucano light attack aircraft to the Nigerian Air Force.
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The contract for the Nigerian Air Force includes ground training devices, mission planning systems, mission debrief systems, spares, ground support equipment, alternate mission equipment, contiguous U.S. interim contractor support, outside of continental U.S. (OCONUS) contractor logistic support and field service representatives for OCONUS support.
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The aircraft will be produced in Jacksonville, Florida, and modified in Centennial, Colorado. The aircraft are expected to be delivered to Nigeria in line with the contract timelines, as part of a larger more comprehensive training and support package.
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MRO Service provider SR Technics, will further expand its UK line maintenance network with the opening of a new line station at Birmingham (BHX).
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Thanks to the addition of the new station, SR Technics is now present at all major international gateways in the UK, serving many international customers. In addition to the network growth during the last twelve months, SR Technics has offered increased capabilities for latest generation aircraft including the Airbus A320neo and A350XWB as well as the Boeing 787 and 737MAX.
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SR Technics can support all modern aircraft ranging in size from the Airbus A318 all the way up to the A380 and maintains the most comprehensive capabilities in the region.
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Chorus Aviation has signed a firm purchase agreement for nine CRJ900 regional jet aircraft with Bombardier Commercial Aircraft. These aircraft will be operated by its subsidiary, Jazz Aviation under the Air Canada Express brand as per Jazz’s Capacity Purchase Agreement (‘CPA’) with Air Canada. The nine aircraft will be delivered in 2020.
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These nine 76-seat aircraft will be configured in two classes of service with 12 seats in business class and 64 seats in economy class, including 20 preferred economy seats.
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The new aircraft will be equipped with Bombardier’s new ATMOSPHÈRE cabin, featuring a larger passenger living space, increased overhead bin capacity, more spacious lavatories, and overall improved aesthetic details to enhance the passenger experience.
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PEMCO Conversions, a wholly owned subsidiary of Airborne Maintenance and Engineering Services, has announced a Boeing 737-700 Next Generation aircraft Passenger-to-Full Freighter conversion program. Chisholm Enterprises will be the launch customer.
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PEMCO Conversions will induct a B737-700 for Full Freighter modification at its headquarters in Tampa, Florida during the second quarter of 2019. The company will amend its pending application with the U.S. Federal Aviation Administration for the B737-700FC supplemental type certification (STC) to accommodate the full freighter conversion, streamlining the approval process. After initial FAA approval, PEMCO Conversions plans to certify both B737-700 conversion programs with the European Aviation Safety Agency and the Civil Aviation Administration of China.
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Chisholm Enterprises is an internationally recognized provider of tailored aviation and business solutions in the Middle East. Its subsidiary, Texel Air, a non-scheduled cargo airline and maintenance repair organization, intends to operate the B737-700F from Bahrain International Airport.
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To satisfy continued demand for its products and services, GA Telesis recently acquired two Boeing 737-700 aircraft (MSN 28499 and MSN 28500). Simultaneously, the disassembly of 737NG aircraft is underway in Marana, Arizona, and GA Telesis’ UK and US based distribution facilities will receive key components.
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This inventory will support the GA Telesis’ iGEAR, SNAP and ACCESS programs, as well as fuelling everyday sales needs for GA Telesis’ worldwide MRO and airline clients.
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Air Transport Services Group, said its subsidiary, LGSTX Services, has acquired TriFactor Distribution Solutions, a privately held material handling systems integrator based in Lakeland, FL.
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This acquisition provides a number of strategic benefits combining operational strengths and expanding complementary services between the companies. The services of the combined LGSTX/TriFactor businesses will be marketed nationwide as part of the comprehensive set of ATSG solutions.
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Material handling support and engineering design services will be offered from multiple locations, including Wilmington and Lakeland, providing systems integration, custom design, installation and maintenance of supply chain solutions. Customized turnkey offerings include: conveyor systems, warehouse storage systems, order picking systems and warehouse control & management systems.
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LGSTX President Gary Stover said, “TriFactor complements our core capabilities. It’s a proven supplier of material handling solutions to respected corporations involved in warehousing, retail distribution and e-commerce operations. TriFactor’s engineers are experts at optimizing product
flow in diverse situations, from high-throughput sort facilities to small regional distribution centers. It’s a great addition to our existing material handling capabilities.”
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AIRCRAFT & ENGINE MARKETPLACE
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UPCOMING EVENTS
February 19 - 20, 2019 – Palma de Majorca, Spain
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