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Tuesday, April 16th, 2019
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Having suspended all international flights last week and with only seven operational aircraft after creditors seized dozens of its aircraft, Jet Airways, India's second-largest airline by market share, is on the verge of total collapse after failing to obtain emergency funding from its lenders.
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With current debt level running at approximately US$1.2 billion and pilots, engineers and ground staff remaining unpaid since December last year, Jet Airways requires an injection of US$3 million a day to remain operational. Interest has been shown in acquiring the stricken carrier by a number of entities, including Etihad Airways, which currently holds a 24 percent stake. However, with the carrier currently generating little revenue and any likely takeover unlikely for several weeks, this may make it impossible for anyone to revive the flagging carrier. Unpaid staff had threatened strike action today (Monday) but postponed this until the results of today’s meeting with bankers were
revealed.
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At stake are 23,000 jobs and the failure of the carrier comes at a politically sensitive time as the country is in the midst of a general election. Only last month the Indian government stepped in with the resignation of the carrier’s founder, Naresh Goyal, stepping down as chairman, asking public-sector banks to rescue Jet Airways, though with little success. Goyal currently holds a 52 percent
majority stake in Jet Airways, but this is likely to be lost in any debt restructure deal.
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Air Arabia has received its first Airbus A321neo LR (Long Range) on long-term lease from Air Lease Corporation. The aircraft flew nonstop from Airbus’s facility in Hamburg to Sharjah International Airport.
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Air Arabia is the first Middle Eastern airline to operate the A321neo LR and this delivery is the first of six aircraft that will join Air Arabia’s fleet that comprises of 53 A320 Family aircraft serving more than 155 routes across the globe from four hubs in the UAE, (Sharjah and Ras Al Khaimah), Morocco and Egypt.
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Air Arabia’s new A321neoLR, powered by CFM LEAP-1A engines, accommodates 215 passengers and is equipped with Air Arabia’s new state of the art cabin interior that was launched as part of Air Arabia’s new brand identity unveiled in October last year. The new cabin interior includes new generation of seats providing extra comfort onboard while maintaining Air Arabia’s known generous seat pitch.
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AerCap Holdings N.V. has announced its major business transactions during the first quarter 2019:
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Air Cap has signed lease agreements for 43 aircraft, including 6 widebody aircraft and 37 narrowbody aircraft. The company purchased 17 aircraft, including 12 Airbus A320neo Family aircraft, 1 Airbus A350, 3 Boeing 787-9s and 1 Embraer E2.
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Air Cap executed sale transactions for 21 aircraft, including 7 Airbus A320 Family aircraft, 2 Airbus A330s, 3 Airbus A340s, 6 Boeing 737NGs and 1 Boeing 767-300ER from AerCap’s owned portfolio and 2 Airbus A320 Family aircraft from AerCap’s managed portfolio.
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Aer Cap has signed financing transactions for US$1.9 billion.
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International Airlines Group (IAG) has released that Enrique Dupuy de Lôme is to step down from his role as chief financial officer and Board executive director at IAG’s Annual General Meeting in June 2019. He will be replaced by Steve Gunning, currently chief financial officer at British Airways, whose appointment as a Board executive director will be proposed to the AGM.
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Enrique Dupuy has been IAG CFO since the Group was founded in January 2011. He was previously Iberia CFO from 1990 and has also worked in finance roles at Instituto Nacional de Industria and Teneo.
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Steve Gunning has been British Airways CFO since January 2016 and acting director of IAG Global Business Services since December 2017. Before that he was chief executive of IAG Cargo from 2011.
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American Airlines has made the decision to extend its cancellations for the Boeing 737 MAX aircraft through Aug. 19. It said that based upon its ongoing work with the Federal Aviation Administration (FAA) and Boeing, it is confident that the MAX will be recertified prior to this time. But by extending its cancellations through the summer, it can plan more reliably for the peak travel season.
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In total, approximately 115 flights per day will be canceled through Aug. 19. These 115 flights represent approximately 1.5% of American’s total flying each day this summer.
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Singapore Airlines and Garuda Indonesia have expanded their codeshare operations. Under the new agreement, SIA and Garuda Indonesia are now codesharing on each other’s flights between Singapore and the Indonesian capital Jakarta. SIA and Garuda Indonesia each operate nine flights per day on the route.
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The two carriers first started codesharing in 2010 on each other’s flights between Singapore and Denpasar (Bali). In 2014, the agreement was expanded to include flights between Singapore and Surabaya. SIA’s regional subsidiary SilkAir also codeshares on Garuda Indonesia-operated flights to Denpasar and Surabaya, while Garuda Indonesia codeshares on SilkAir-operated flights to ten destinations in its Indonesia network.
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TAG Aviation Maintenance Services has selected Sensus MRO as its future operating system to complement Quantum, its legacy system. Sensus MRO is a web-based and field-proven Enterprise Resource Planning (ERP) solution for the MRO industry. It is developed and supported by Locatory.com a Lithuania based subsidiary of Avia Solutions Group.
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Sensus MRO will enhance TAG Aviation Maintenance Services’ customer experience by offering new functionalities such as improved capacity planning, customer portal, remote access for increased mobility, optimised quoting/invoicing processes and time tracking. In addition, Sensus MRO will provide a unique opportunity to harmonise TAG’s Information systems and processes across its unique pan-European network of line and base stations.
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TAG Aviation’s maintenance operation services chose Sensus for its capabilities and innovative approach. The system easily integrates with other software and databases, is module-based, highly customizable (modules can run as a standalone or altogether) and it can be adapted by Sensus developers according to a customer’s needs.
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TrueNoord, the specialist regional aircraft lessor, has appointed Michael Adams as European Sales Director. Based in TrueNoord’s Dublin office, Adams’ primary responsibilities will be to support the existing TrueNoord customer base in Europe as well as source and close regional aircraft leases with new customers in Europe.
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Prior to joining the TrueNoord team Adams worked for ACIA Aero Leasing as Senior Executive: Sales, Leasing & Marketing, and for Solenta Aviation (Pty) as Business Development Manager. His responsibilities included overseeing the remarketing of aircraft available for lease or sale, coordinating pre-delivery processes for aircraft being placed on both wet and dry leases, customer relationship management with aircraft lessees, and sourcing aircraft for purchase.
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At this year's Aircraft Interiors Expo (AIX) in Hamburg, Trenchard Aviation Group has launched its new series of Servestow™ Life Vest Pouches.
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With its unique closure system and integrated RFID (Radio Frequency Identification) security seal, Servestow™ LVS100 represents the very latest stage in more than 10 years of continuous Life Vest Pouch evolution. Whilst earlier versions featured tamper-evident seals to secure the pouches and
achieved savings of several inspection man-hours per aircraft, the LVS100 will increase that time-saving considerably.
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Using a handheld meter, linked to a central database, it will take literally minutes to inspect an entire aircraft. In addition, any updates can be collated in real-time and reports distributed globally.
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Servestow™ Life Vest Pouches are manufactured by Servecorp, one of the four complementary businesses that make up Trenchard Aviation Group. To date, more than one million Servestow™ pouches have been supplied to aircraft seat OEMs and airlines worldwide and in 2017, Servecorp received two Queen’s Awards for Enterprise, one for Innovation and one for International Trade.
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Designed to fly satellite-carrying rockets to an altitude of about 35,000 feet (10,700 m), Stratolaunch Systems Corp’s Roc, the world’s largest aircraft, performed its maiden flight over the Mojave Desert in California on April 13. Lasting for over two hours and reaching an altitude of
17,000 feet, the successful flight was for the purposes of testing the aircraft’s performance and handling qualities.
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Stratolaunch was formed in 2011 by the late co-founder of Microsoft, Paul Allen, with the intention of building an aircraft capable of carrying payloads of up to 500,000 pounds in the form of rockets and other space vehicles in an attempt to cash in on the anticipated future high demand to
put satellites into orbit. Stratolaunch has boasted that its aircraft would make satellite deployment as “easy as booking an airline flight,” through providing the capability of an air launch to rockets.
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Built for Stratolaunch by Scaled Composites, the Mojave-based aerospace company that also built SpaceShipOne, and constructed of carbon composites, the twin-fuselage aircraft has a wingspan of 117 meters, which is longer that an American Football field measured from end zone to end
zone, and a fuselage length of 73 meters. It has two sets of twelve landing gear wheels and two nose gear wheels, with the pilot, co-pilot and flight engineer located in the right-hand fuselage cockpit and flight data recording equipment housed in the left fuselage. The plane is powered by six Pratt & Whitney PW4056 engines and has a maximum take-off weight capacity of 1,300,000
pounds, requiring a runway length of 12,000 feet.
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The aircraft was given the nickname ‘Roc’ after Sinbad’s Roc, the mythical bird that was so large it could carry and elephant.
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