Read by thousands of aviaon professionals and technical decision-makers every week www.avitrader.com WEEKLYAVIATIONHEADLINES On March 21 st Irish carrier Ryanair took delivery of its 450th Boeing air- craſt, which touched down in Dub- lin Airport having been flown from Boeing Field, Seale, and growing Ryanair’s current operang fleet to 380 Boeing 737-800s. Ryanair’s Chief Operaons Of- ficer Mick Hickey said: “We are de- lighted to receive our 450th Boeing aircraſt, which brings to 380 the number of Boeing aircraſt in Ryanair’s current fleet. Ry- anair is proud to partner with Boe- ing and has operated an all-Boeing fleet since 1994. We look forward to receiving many more aircraſt in the years ahead, including the rest of the ‘Next Generaon’ 737-800s and 200 737 MAX ‘Game changer’ air - craſt on order, as we grow our fleet to 585 by FY24” With more than 80 unfilled orders for Next-Generaon 737-800s, Ry- anair is also the launch customer for the 737 MAX 200, with 100 unfilled orders. The 737 MAX 200 can ac- commodate up to 200 seats, increas- ing revenue potenal and providing airlines with up to 20 percent beer fuel efficiency per seat than today’s most efficient single-aisle airplanes. “Ryanair has consistently demon- strated the outstanding economic, reliability and safety capabilies of the Next-Generaon 737-800, using this airplane as the foundaon to become one of the biggest airlines in the world,” said Monty Oliver, vice president, European Sales, Boeing Commercial Airplanes. “To deliver the 450th 737-800 is truly a signifi- cant milestone in both companies shared history and we look for- ward to support- ing Ryanair on the next phase of its incredible journey with the introducon of the 737 MAX 200.” Ryanair carried 119 million pas- sengers last year with 1,800 daily flights to more than 200 desna- ons. The Dublin based carrier is the largest 737-800 customer in the world and the largest Boeing opera- tor in Europe. WORLD NEWS The LCC is the largest Boeing operator in Europe Photo: Boeing ISSN 1718-7966 MARCH 27, 2017/ VOL. 583 Ryanair in milestone delivery Low cost carrier takes 450 th 737-800 Emirates introduces laptop handling service for US flights Emirates customers travelling to the US via Dubai will be able to ulise their laptops and tablet devices on the first part of their journeys, and also during transit in Dubai. They must then declare and hand over their laptops, tablets, and other banned electronic devices to se- curity staff at the gate just before boarding their US-bound flight. The devices will be carefully packed into boxes, loaded into the aircraſt hold, and returned to the customer at their US desnaon. There will not be any charge for this service. Such items were recently banned from cabin baggage on flights to the US. Eurowings to serve over 30 European desnaons from Munich Starng on March 26, Munich Air - port’s new summer metable will come into effect. Luſthansa subsidi- ary Eurowings will have four aircraſt staoned at Munich Airport to serve 31 aracve European desnaons, above all in Italy, Greece and Croa- a. Eurowings will also be deparng from Munich to the major European cies of Amsterdam, Edinburgh, Lon- don, Paris, Naples and Rome. ASky to make Southern African debut West African carrier ASKY, announced the start of new nonstop service be- tween Lomé (Togo) and Johannes- burg effecve 8 April 2017. Passen- gers will be able to connect between Johannesburg and ASKY’s enre net - work in West and Central Africa. The flight will be operated with 737-800 aircraſt, configured with 16 business class seats and 138 economy seats. WWW.AVTRADE.COM TAKING COMPONENT SUPPLY WHERE OTHERS DON’T. “Ryanair is proud to partner with Boeing and has operated an all-Boeing fleet since 1994.” Ryanair Chief Operaons Officer Mick Hickey
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Read by thousands of aviation professionals and technical decision-makers every week www.avitrader.com
WEEKLY AVIATION HEADLINES
On March 21st Irish carrier Ryanair took delivery of its 450th Boeing air-craft, which touched down in Dub-lin Airport having been flown from Boeing Field, Seattle, and growing Ryanair’s current operating fleet to 380 Boeing 737-800s.
Ryanair’s Chief Operations Of-ficer Mick Hickey said: “We are de-lighted to receive our 450th Boeing aircraft, which brings to 380 the number of Boeing aircraft in Ryanair’s current fleet. Ry-anair is proud to partner with Boe-ing and has operated an all-Boeing fleet since 1994. We look forward to receiving many more aircraft in the years ahead, including the rest of the ‘Next Generation’ 737-800s and 200 737 MAX ‘Game changer’ air-
craft on order, as we grow our fleet to 585 by FY24”
With more than 80 unfilled orders for Next-Generation 737-800s, Ry-anair is also the launch customer for the 737 MAX 200, with 100 unfilled orders. The 737 MAX 200 can ac-
commodate up to 200 seats, increas-ing revenue potential and providing airlines with up to 20 percent better fuel efficiency per seat than today’s most efficient single-aisle airplanes.
“Ryanair has consistently demon-strated the outstanding economic, reliability and safety capabilities of
the Next-Generation 737-800, using this airplane as the foundation to become one of the biggest airlines in the world,” said Monty Oliver, vice president, European Sales, Boeing Commercial Airplanes. “To deliver the 450th 737-800 is truly a signifi-cant milestone in both companies
shared history and we look for-ward to support-ing Ryanair on the next phase of its incredible journey with the
introduction of the 737 MAX 200.”
Ryanair carried 119 million pas-sengers last year with 1,800 daily flights to more than 200 destina-tions. The Dublin based carrier is the largest 737-800 customer in the world and the largest Boeing opera-tor in Europe.
WORLD NEWS
The LCC is the largest Boeing
operator in Europe
Photo: Boeing
ISSN 1718-7966 MARCH 27, 2017/ VOL. 583
Ryanair in milestone delivery Low cost carrier takes 450th 737-800
Emirates introduces laptop handling service for US flightsEmirates customers travelling to the US via Dubai will be able to utilise their laptops and tablet devices on the first part of their journeys, and also during transit in Dubai. They must then declare and hand over their laptops, tablets, and other banned electronic devices to se-curity staff at the gate just before boarding their US-bound flight. The devices will be carefully packed into boxes, loaded into the aircraft hold, and returned to the customer at their US destination. There will not be any charge for this service. Such items were recently banned from cabin baggage on flights to the US.
Eurowings to serve over 30 European destinations from MunichStarting on March 26, Munich Air-port’s new summer timetable will come into effect. Lufthansa subsidi-ary Eurowings will have four aircraft stationed at Munich Airport to serve 31 attractive European destinations, above all in Italy, Greece and Croa-tia. Eurowings will also be departing from Munich to the major European cities of Amsterdam, Edinburgh, Lon-don, Paris, Naples and Rome.
ASky to make Southern African debutWest African carrier ASKY, announced the start of new nonstop service be-tween Lomé (Togo) and Johannes-burg effective 8 April 2017. Passen-gers will be able to connect between Johannesburg and ASKY’s entire net-work in West and Central Africa. The flight will be operated with 737-800 aircraft, configured with 16 business class seats and 138 economy seats.
WWW.AVTRADE.COM
TAKING COMPONENT SUPPLY WHERE OTHERS DON’T.
“Ryanair is proud to partner with Boeing and has operated an all-Boeing fleet since 1994.”Ryanair Chief Operations Officer Mick Hickey
GA Telesis boasts the world’s largest independent inventory of commercial aircraft products. With customers located across six continents, our global facilitiesallow for timely communication, delivery, maintenance, and repair services.
Air Partner sells two B747-400s on behalf of China Airlines
Air Partner’s Aircraft Remarketing division (for-merly Cabot Aviation), a leading aircraft remar-keting agent, has arranged the sale of two B747-400 aircraft on behalf of China Airlines. The aircraft were sold on March 3, 2017 to Jet Mid-west Group, a full-service commercial aircraft, engine and spare parts trading company offering complete end-of-life creative product support solutions. Jet Midwest’s fleet currently consists of B747, B757, B767, A320, F50, F100, MD80 and Saab 340 aircraft. The aircraft, serial numbers 27965 and 29906, were originally delivered new to China Airlines in 1996 and 1999 respectively. The aircraft are powered by PW4056 engines.
Intrepid to lease two B777 aircraft to Phil-ippine Airlines
Intrepid Aviation has concluded an agreement with Philippine Airlines for the long-term lease of two new B777-300ER aircraft, as a result plac-ing the remaining two B777’s under its 2014 purchase agreement with Boeing. The aircraft are scheduled for delivery to the Philippine flag carrier in December 2017 and will support its growth and fleet modernization objectives.
M.K. Aviation concludes purchase andlease of three engines
M.K. Aviation has concluded the purchase and lease of three engines (PW4168A, CFM56-7B26/3, and RB211-535E4) to leading Euro-pean carriers in February. The purchase of the engines, together with their placement, is part of M.K. Aviation’s strategy to increase its air-craft and engines portfolio to more than 18 en-gines by the end of FY 2017, confirmed Mr. Ariel Kraselnick, M.K. Aviation’s owner. The engines were purchased with M.K. Aviation’s major cred-it line with local banks, designed to support its growth strategy for 2017 and 2018.
AIRCRAFT & ENGINE NEWS Embraer flies fourth E190-E2 prototype and advances in certification campaign
Embraer performed the maiden flight of the E190-E2 fourth prototype, on March 17, at the São José dos Campos facility. This aircraft will be used for specific interior tests such as cabin evacuation, environmental comfort and internal noise. The aircraft, serial number 20.004, will join the flight-test fleet, comprised of the first three E190-E2 prototypes which, combined, have accumulated more than 650 flight hours to date. The first E190-E2 jet is on schedule to be delivered in the first half of 2018 and the launch operator will be Widerøe, the largest Nor-wegian regional airline. “In terms of the certification campaign, Embraer has already frozen the aerodynamic configuration and concluded many tests such as flying qualities assessment, short field takeoff and landing, climb performance, in-flight thrust determination, landing gear stability and other systems tests. Shortly we will do high speed flying qualities, flutter, natural ice and cold soak tests,” explained Luís Carlos Affonso, COO, Embraer Commercial Aviation.
Gulfstream Aerospace’s G500 flight-test program continues to make significant progress toward the aircraft’s anticipated 2017 certification by the Federal Aviation Administration (FAA). The five G500 test aircraft, including a fully outfitted production aircraft, have surpassed 2,600 flying hours and accumulated more than 600 flights. “Development testing is complete; company testing is well under way, and FAA certification has started, putting us right on track for certifi-
cation and customer deliveries later this year,” said Mark Burns, president, Gulfstream. “The maturity, discipline and rigor of our program give us great confidence as we look forward to our first delivery.” Gulfstream designed the G500 interior after extensive customer feedback, and that collaboration continues. Recently, members of Gulfstream’s Advanced Technology Customer Advisory Team (ATCAT) spent an hour flying in the fully outfitted production aircraft, which serves as the testbed for the cabin.
Thales signs avionics and support contract on AirAsia’s entire A320neo fleet
Thales has been selected by AirAsia for the equipment of avionics systems on their new fleet of 304 A320neos. The contract will also in-clude a long-term Repair-By-The-Hour support agreement. Deliveries of the aircraft started in October 2016. Thales will equip the 304 single-aisle aircraft with its Flight Management System (FMS)1, the navigation solution of choice for Air-bus aircraft, alongside the THALES/ACSS T3CAS2 surveillance platform, the preferred solution for all Airbus single-aisle aircraft. The new fleet will also feature a Low Range Radio Altimeter (LRRA) and Emergency Location Transmitters (ELT).
AAR signs landing gear contract with IndiGo
AAR, a global leader in aviation aftermarket services, has signed an agreement with India’s largest airline IndiGo, to provide support for landing gear overhaul services. The contract includes up to 49 full ship sets of A320 landing gear, as well as assemblies and subassemblies, for the next five years. The agreement expands AAR Landing Gear Services’ footprint in the Asia-Pacific region and spearheads a relation-ship with the growing low-fare carrier, which AAR currently supports through exclusive com-ponents upon request. IndiGo currently oper-ates 129 aircraft, which fly to 42 domestic and five international destinations.
Honeywell auxiliary power units now standard on all Airbus A320s
Airbus has designated the Honeywell 131-9A auxiliary power unit as standard equipment for
MRO & PRODUCTION NEWS A350-1000 performed ‘High and Warm’ flight test campaign in Latin America
With the objective of conducting a ‘High and Warm’ flight test campaign to check aircraft and engine performance in high-altitude, warm and humid conditions, the A350-1000 MSN071 test aircraft flew first to Bolivia before completing its tour in Colombia and then returning to Toulouse, France, after 10 days of flight and ground tests. The flight test campaign took place at three different airports:Cochabamba at an altitude of 8,300ft (2,350m), La Paz at 13,300ft (4,054m) and Barranquilla at sea level, with temperatures ranging between 8°C and 32°C. The aircraft took-off and landed several times at each airport to collect data. Early test results confirm the good performance and behavior of both the aircraft and its Trent XWB-97 engines. This is a major successful milestone in the aircraft certification flight test campaign. The A350-1000 is ready for high al-titude operations from Entry Into Service later this year. All three A350-1000 flight test aircraft (MSN059, MSN071 and MSN065) are engaged in the ongoing Type Certification campaign, during which the aircraft is pushed to extreme limits well beyond what they should ever face during normal in-service operations.
A350-1000 performs ‘High and Warm’ flight Test campaign in Latin America Photo: Airbus
its A320 family of aircraft — it is no longer just a selectable option for airlines. Honeywell’s aux-iliary power unit is now recognized as the gold standard for the A320 family that provides signif-icant fuel savings and demonstrated reliability. Honeywell recently shipped its 5,000th 131-9A auxiliary power unit (APU). This puts the num-ber of production APUs from the 131-9 family at more than 11,000 units, with more than 100 million total flight hours. The 131-9 series auxil-iary power unit has been selected by airlines for the majority of narrow-body aircraft. Its proven reliability helps reduce delays and flight cancel-lations, allowing airlines to stay on schedule.
STS Component Solutions enters new strategic partnership with FW Marsh
STS Component Solutions (STSCS), a division of STS Aviation Group, has announced its new part-nership with FW Marsh Energy Services for Aer-oderivative Field Service Solutions. FW Marsh is a globally recognized provider of Field Service in the Aeroderivative market with a broad port-folio of capabilities as an OEM approved, ISO 9001/2008 certified, provider of repair services, inspections, training and technical services. STS is now able to offer innovative, reliable, and cost-effective solutions to its Aeroderivative custom-ers by utilizing FW Marsh’s knowledge, technical expertise, and established global field service infrastructure. This new alliance will greatly benefit the STSCS customer base by helping to reduce costs and streamline aeroderivative maintenance, repair services, and parts require-ments. STSCS views this new partnership as a
MRO & PRODUCTION NEWS BOC Aviation orders 13 new Boeing 737 MAX 8 aircraft
BOC Aviation has ordered 13 new Boeing 737 MAX 8 aircraft. “Airlines are attracted by the 737 MAX 8’s lower operating costs and fuel efficiency, and we are delighted to announce the inclusion of these additional aircraft as we build our future deliv-ery pipeline,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation. Following this latest purchase agreement, BOC Aviation’s cumulative outstanding orders, purchases and deliveries to date for Boeing aircraft total 331, including 209 aircraft from the Boeing Next-Generation 737 family and 74 Boeing 737 MAX 8 aircraft.
BOC Aviation orders 13 Boeing 737 MAX 8 aircraft Photo: BOC Aviation
greater expansion of its Aeroderivative support capabilities that were initially launched in 2014, further enhancing the company’s ability to pro-vide comprehensive support to their customers within this market.
Southeast Aerospace, located at the Orlando-Melbourne International Airport, has announced its partnership with Wisetouch Interiors to pro-vide aircraft interior design, refurbishment, and manufacturing for its diverse customer base. Coupled with Southeast Aerospace’s DER inte-rior design capabilities, the partnership offers a complimentary package for aircraft modifica-tions inside and out. Southeast Aerospace can now offer this high quality interior design and refurbishment services to its expansive line of aircraft modification capabilities, products and services. In addition, the partnership will add exterior detailing services to compliment South-east Aerospace’s aircraft modification services.
MRO & PRODUCTION NEWS
HEICO Corporation declares 5-for-4 stock split
HEICO Corporation has reported that its Board of Directors approved a 5-for-4 stock split on both its Class A Common Stock and Common Stock. This an-nouncement marks HEICO’s 15th stock split or stock dividend since 1995. The stock split will be effected in the form of a 25% stock dividend on each class
FINANCIAL NEWS
HAITEC opens new line maintenance station in Frankfurt/Main
As of March 2017, HAITEC now offers line maintenance support at Germany’s largest airport in Frankfurt/Main. The planning and opening of new Line Maintenance stations is a key ele-ment of HAITEC’s growth strategy. Headquartered at Hahn Airport and one of Europe’s largest aircraft maintenance organizations with 22.000 m² hangar space and currently more than 400 employees, HAITEC now provides Line Maintenance support at seven international airports. “In recent years, we have continuously expanded our aircraft maintenance service portfolio and appreciate the trust Airlines place in us. By launching our Line Maintenance operations and supporting new customers at Frankfurt/Main Airport, HAITEC has achieved a major goal. We look forward to serving our customers at one of Europe’s most important hubs with our experienced, highly qualified team,” explained Gereon Arens, CEO of HAITEC.
HAITEC now offers line maintenance support at Frankfurt/Main airport Photo: HAITEC
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of the company’s shares and is payable on April 18, 2017 to shareholders of record in the same class of shares held as of April 7, 2017. Cash will be paid in lieu of fractional shares based on the last sale price of each of the respective classes of shares on the re-cord date (as adjusted for the stock split). Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with HEICO’s Co-presidents, Eric A. Mendelson and Victor H. Mendelson, commented, “This stock split reflects our continuing confidence and enthusiasm in HEICO’s long-term growth and fi-nancial outlook. Additionally, this stock split, which is the 15th overall since 1995, underscores our commitment to being a shareholder value-focused organization that has implemented the same, suc-cessful strategy since 1990.”
ARI fully acquires UAM
Aircraft Recycling International Limited (ARI) has acquired a 100% equity interest in Universal Asset Management (UAM), one of the leading global aviation services providers based in Ten-
nessee, USA. UAM has nearly three decades of commercial and technical experience managing customers’ aviation assets, disassembling air-craft and supplying after-market components to the commercial aviation industry. With its track record of disassembling over 300 aircraft, UAM, which is known for its cutting-edge technological solutions, has raised the bar in the aircraft recy-cling industry. UAM is now a wholly owned US subsidiary of ARI, responsible for ARI’s aircraft re-cycling business overseas, and a part of its global disassembly and distribution platform. Together, ARI and UAM will form global solutions for aging aircraft, further consolidating CALC’s status as a full value-chain aircraft solutions provider.
Burnham Sterling closes three-aircraft private placement financing with Avianca Holdings
Burnham Sterling & Co., a financial advisory firm specializing in transportation assets, has acted as lead arranger and sole book runner in a privately placed transaction for Avianca, Latin America’s second-largest airline, for three aircraft, includ-ing two Airbus A320 family and one Boeing 787.
The transaction utilized the Enhanced Aviation Investment Vehicle (EAIV) private debt structure developed by Burnham Sterling. It was Burnham Sterling’s first multi-currency EAIV, providing both U.S. dollar and euro funding for Avianca. It also provided Avianca with attractive mezzanine fund-ing, achieving loan-to-values as high as 95% of the appraised value. The transaction has a financing term as long as 12 years, and the last of the three aircraft was delivered in December 2016.
HNZ Group reports 2016 year-end results
HNZ Group, an international provider of helicop-ter transportation and related support services, reported its financial and operating results for the fourth quarter and fiscal year ended Decem-ber 31, 2016.Revenue increased by US$2.1m to US$50.9m in the fourth quarter of 2016, com-pared to US$48.8m a year ago, mainly as a result of increased revenue from the ancillary business segment. The corporation flew 8,304 hours com-pared to 8,290 hours in the fourth quarter of 2015, representing an increase of 0.2%. Net loss attributable to the shareholders of the corpo-ration totaled US$3.0m compared to a net loss
of US$2.7m in 2015. For the twelve-month pe-riod ended December 31, 2016, revenue totaled US$212.3m compared with revenue of US$188.7 million in the corresponding period of 2015. This increase is explained by higher offshore revenue of US$13.8m, an increase in ancillary revenue of US$7.5m and an increase in onshore revenue of US$2.3m. Adjusted EBITDAR and Adjusted EBITDA for the twelve-month period amounted to US$45.2m and US$27.1m respectively, com-pared to US$32.6m and US$22.0m a year earlier.
AAR reports third-quarter fiscal year 2017 resultsAAR has reported third-quarter Fiscal Year 2017 consolidated sales of US$446.7m and income from continuing operations of US$13.1 million. For the third quarter of the prior fiscal year, the company reported sales of US$412.1m and in-come from continuing operations of US$9.9m. Sales in Aviation Services increased 9.6% in the quarter reflecting continued strong performance for the company’s supply chain management solutions. Sales in Expeditionary Services also increased 1.6% as volumes continue to recover in the mobility business. Net debt as at Febru-ary 28, 2017 was US$162.7m, compared to US$145.3m at February 29, 2016. The net debt increase during the quarter was primarily for investments in assets to support recently an-nounced long-term flight hour program awards.
Lufthansa Technik’s international growth continues in 2016
Lufthansa Technik, headquartered in Hamburg, continued its track record for international growth in 2016 and produced a good result with significantly more investment. The increase in revenue with non-group companies overcompen-sated the decline in internal orders. Sales revenue climbed by €45m from €5.099bn to €5.144bn. The company achieved earnings before interest and tax (adjusted EBIT) of €411.3m (previous year: €454.4m). Business with customers outside the Lufthansa Group grew disproportionately.External revenue from outside the Group grew by 8% to €3.5bn. Revenue from group companies fell significantly, declining 11.7% to €1.6bn, because
FINANCIAL NEWS
of the finalization of the modification program for the Lufthansa long-haul fleet. Revenue grew disproportionately in the growth regions of Asia and the USA. The substantial growth in revenue in the American market that was seen in 2015 continued unabated in 2016, with growth of 14% and revenue of around €900m. In Asia, Lufthansa Technik achieved even higher growth of 23%. With revenue now at around €600m, this market is rapidly gaining in importance for the company. Lufthansa Technik invested more than €216m in development to secure its own future, some 40% more than in 2015. Major areas of focus were in-novation and product development, new technol-ogies, mastering new materials, the automation of repair processes, and digitalization. The com-
pany established its new “Digital Fleet Solutions” division in Hamburg. Last year also saw expendi-ture of around €200m to expand the material pool. (€1.00 = US$1.08 at time of publication.)
El Al Israel Airlines posts financial results for full year 2016 and fourth quarter
El Al Israel Airlines reported that the Com-pany’s revenues in 2016 amounted to approx. US$2,038m, compared to approx. US$2,054m in the previous year. Profit before tax in 2016 was approx. US$93m, compared to a profit before tax of approx. US$145m in the previous year. The Company completed 2016 with a net profit of ap-
Malaysia Airlines Berhad (MAB) has signed an agreement with the Airbus Asia Training Centre (AATC) in Singapore to provide A350 XWB training to the carrier’s flight crew. The contract will cover complete courses for flight crew transition to the new A350 XWB, as well as regular recur-rent training services. According to Malaysia Airlines Chief Operations Officer, Capt Izham Ismail, “The A350 XWB will play a key role in our future fleet and network expansion plan. The Airbus training centre in Singapore offers the full range of courses and facilities, including state-of-the-art full flight simulators, to enable us to train our crews for this new aircraft type. This will be an efficient and cost-effective solution for Malaysia Airlines, with crews being trained close to home,” he added. Malaysia Airlines will take delivery of its first A350-900 at the end of this year. Altogether, the airline will acquire six aircraft on lease from Air Lease Corporation. The airline will operate the aircraft on premium long-haul routes, with a luxurious three-class layout.
Airbus Asia Training Centre in Singapore signs agreement with Malaysia Airlines Berhad to provide A350 XWB training Photo: Airbus
BAA Training, the European standard aviation training center, has signed a cooperation con-tract with International Flight Training Center Istanbul (ITFC Istanbul). The agreement covers the lease of Airbus A320 and Boeing 737 FFS for BAA Training students’ training in Turkey’s capi-tal. The one-year-long contract will allow BAA Training’s pilot trainees from the surrounding re-gions to conveniently receive professional Airbus A320 and Boeing 737 pilot training in accordance with EASA standards. In addition to the full-flight simulators, ITFC Istanbul will provide necessary
OTHER NEWS
International Airlines Group (IAG) is launching LEVEL – a new low cost long-haul airline brand that will take to the skies in June 2017 with flights from Barcelona to Los Angeles, San Francisco (Oakland), Buenos Aires and Punta Cana. LEVEL will fly two new Airbus A330 aircraft branded in its own livery and fitted with 293 economy and 21 premium economy seats. Initially it will be operated by Iberia’s flight and cabin crew and will create up to 250 jobs based in Barcelona. Barcelona has been chosen as the first European city for the launch of IAG’s new operation, but LEVEL will look to expand its flights from other European cities. Willie Walsh, IAG chief executive, said: “LEVEL is an exciting new IAG airline brand which will bring a stylish and modern approach to flying at prices that are even more affordable. It will benefit from having the strength of one of the world’s largest airline groups behind it. LEVEL will become IAG’s fifth main airline brand alongside Aer Lingus, British Airways, Iberia and Vueling. It will complement our existing airline portfolio and further diversify our current customer base.”
IAG is launching new low cost long-haul airline, LEVEL Photo: IAG
Thales delivers flight and navigation training simulator to the Royal Malaysian Air Force
Thales has been selected to deliver an FNPT II (Flight and Navigation Procedures Trainer) sim-ulator to the Royal Malaysian Air Force for the purposes of initial pilot training. The simulator, delivered to the company Gading Kasturi, has been in operation since December. The flight and navigation training simulator for H120 heli-copters is a welcome addition to the Royal Ma-laysian Air Force’s current facilities which offer training on real helicopters and which meets pi-lots’ specific needs in terms of flight procedure
MILITARY AND DEFENCE
prox. US$81m compared to a net profit of approx. US$107m in 2015. The Company’s cash and de-posit balances as of December 31, 2016 totaled approx. US$212m and the equity amounted to approx. US$284m. EBITDA in 2016 amounted to approx. US$287m, compared to approx. US$331m last year. Cash flow from operating ac-tivities in 2016 amounted to approx. US$243m, compared to a cash flow of approx. US$271m in 2015. The Company’s revenues in the fourth quarter of 2016 amounted to approx. USD 460.8 million, compared to approx. USD 476.3 million in the fourth quarter of 2015. The Company re-corded in the fourth quarter of 2016 a net loss of approx. US$2.4m, compared to a profit of approx. US$12.2m in the fourth quarter of 2015.
PPG makes revised proposal to combine with AkzoNobel
PPG (PPG) made a revised proposal on March 20, 2017 to acquire Akzo Nobel for €90.00 (cum dividend) per ordinary share, comprised of cash of €57.50 and 0.331 share of PPG common stock. This represents an increase of €7.00 per ordinary share from PPG’s initial offer. Includ-ing the assumption of net debt and minority interests, the proposed transaction is valued at approximately €24.5bn. PPG was informed that AkzoNobel rejected this latest proposal. To date, the Board of AkzoNobel have not accepted PPG’s multiple invitations to discuss its proposals and negotiate a recommended transaction. PPG be-lieves this revised proposal strengthens a very attractive and highly compelling opportunity for both AkzoNobel and PPG, their respective shareholders and other stakeholders, and com-prehensively addresses all relevant non-financial matters. PPG continues to believe strongly that a combination of the two companies presents a unique opportunity to build on the heritage and legacies of the respective businesses, and that the combination is in the best interest of both companies’ shareholders and other stakehold-ers. (€1.00 = US$1.08 at time of publication)
TrueNoord closes financing facility for four Embraer E190 aircraft leased by Aer-oMexico and TUI (Jetairfly) Belgium
TrueNoord has closed the first tranche of a term financing facility with DVB bank and PK AirFi-nance of Luxembourg for four of the six Em-braer E190 aircraft that it purchased from BOC Aviation in January with leases attached. These four aircraft are operated by AeroMexico and TUI (Jetairfly) Belgium. This new portfolio of six globally operated E190 aircraft marks a signifi-cant investment for TrueNoord and heralds the
FINANCIAL NEWS
training. Besides reducing costs and limiting the environmental impact, trainee pilots are now trained in normal procedures such as naviga-tion, instrument flight, and how to handle fail-ures as well as various emergency procedures which cannot be easily accomplished on a real helicopter. The visual database provided with the simulator is adapted to training needs within the Malaysian environment.
start of a highly targeted on-going development and growth strategy for the TrueNoord fleet under lease, following initial investment from private equity firm Bregal Freshstream. Milbank acted for TrueNoord as lessor’s counsel while Clifford Chance represented DVB Bank SE and PK AirFinance.
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WEEKLY AVIATION HEADLINES
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• Kaman Corporation reported that Eric B. Remington will become Vice President, Government Relations and Communica-tions, and James G. Coogan will become Vice President, Investor Relations, effec-tive April 1, 2017. Both officers will report to Robert D. Starr, Executive Vice President and Chief Financial Officer.
• Paul Foley is returning to Mesa Airlines’ executive management team. Foley will serve as Executive Vice President, and will oversee Flight Operations Recruitment, Training, Safety/Security, Crew Planning and Aircraft Scheduling. Foley will work closely with Chief Operating Officer John Selvaggio, maintaining the Company’s rela-tionships with United Airlines and American Airlines.
classrooms, equipment and customer service support to BAA Training clients. BAA Training provides full range of aviation training includ-ing fixed and rotary wing Ab Initio pilot training, type rating, ground handling, cabin crew and UAV/UAS training. The company is a part of Avia Solutions Group.
Finnair is making changes to its traffic program for the summer 2017 season,due to operational reasons which relate to a temporary shortage of crew and aircraft. Finnair will suspend its flights between Helsinki and Miami between May 4th and September 29th and will also cancel two of its weekly frequencies on its Helsinki-Chicago route during the month of May. Flights to Miami will resume on October 1 with threeweekly fre-quencies.
Delta Air Lines will offer a new daily nonstop flight between New York-JFK (JFK) and Rio de Ja-neiro, Brazil, beginning Dec. 21, 2017, subject to U.S. Department of Transportation approval. The airline’s strategic alliance with GOL Linhas Aer-eas Inteligentes will extend the reach of this ser-vice to 23 destinations within Brazil and provides seamless connections at Antonio Carlos Jobim International Airport (GIG) in Rio de Janeiro. The GIG-JFK route will be operated using a Boeing 767-300 aircraft.
Jeppesen, a Boeing Company, has agreed to a new four-year service agreement with Avianca, the flagship airline of Colombia. Jeppesen will provide Crew Pairing and Crew Rostering servic-es to optimize crew planning operations for the airline’s 5,000-plus crew members based in Co-lombia, El Salvador, Peru, Costa Rica, Honduras, Ecuador and Guatemala. Jeppesen Crew Pairing and Crew Rostering are optimization-driven tools that use sophisticated modeling and implemen-tation features to reveal insights that lead to bet-ter decision-making and actions. Jeppesen Crew Rostering helps airlines build high-quality rosters while reducing total costs and time to market, leading to increased profitability. The tool also considers seniority to build rosters, based on a preferential bidding system which increases crew quality of life and job satisfaction factors.
FL Technics, a global provider of one-stop-shop aircraft maintenance, repair and overhaul ser-vices, has become an authorized representative of one of the world leader in aviation engineer-ing and maintenance software – Commsoft. FL Technics will promote the partner’s MRO IT system OASES in Asia Pacific, MENA and CIS re-gions, building on its established market pres-
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ence. Developed by Commsoft, OASES is one of aviation industry’s most popular software used by airlines as well as aircraft maintenance and engineering management providers. Following successful implementation of OASES in 2014, FL Technics has been actively promoting the system to its airline-customers. FL Technics team has also provided system integration and personnel training support for Go2Sky, Somon Air and oth-er carriers thus assisting the airlines in smooth OASES implementation.
EASA & Continuing Airworthiness Seminar 2017 April 04, 2017 – April 04, 2017 The Gresham Hotel, Dublin, Ireland
Aircraft Records & Total Asset Management Seminar 2017 April 05, 2017 – April 05, 2017 The Gresham Hotel, Dublin, Ireland
Technical Aspects of a Leased Asset 2017 May 15, 2017 – May 15, 2017 NH Berlin Friedrichstrasse, Berlin, Germany
Maintenance Reserves Training Seminar 2017 May 16, 2017 – May 16, 2017 NH Berlin Friedrichstrasse, Berlin, Germany
A320-233 FPG Amentum V2527-A5 3543 2008 Now Sale / Lease Jack Hynes [email protected] +353 16398125
A320-233 FPG Amentum V2527-A5 3524 2008 Now Sale / Lease Jack Hynes [email protected] +353 16398125
A321-231 Castlelake V2533-A5 1487 2001 Nov 2017 Lease Michael Hackett [email protected] +44-207-190-6120
A330-200 FPG Amentum PW4168A 943 2008 Q2/2018 Sale / Lease Jack Hynes [email protected] +353 16398125
A330-200 FPG Amentum PW4168A 962 2008 Q2/2018 Sale / Lease Jack Hynes [email protected] +353 16398125
A330-223 FPG Amentum PW4168A 943 2008 Now Sale / Lease Jack Hynes [email protected] +353 16398125
A330-223 FPG Amentum PW4168A 962 2008 Now Sale / Lease Jack Hynes [email protected] +353 16398125
A330-223 FPG Amentum PW4168A 979 2009 Now Sale / Lease Jack Hynes [email protected] +353 16398125
A340-313 AerFin CFM56-5C4 157 1996 Now Sale / Lease R. Rosser [email protected] +442921676296
B737-300 Aersale CFM56-3C1 27910 Now Sale / Lease Craig Wright [email protected] +1 305 764 32383 300 e sa e C 56 3C 9 0 o Sa e / ease C a g g C a g g @ae sa e co 305 6 3 38
B737-300 World Star Aviation Services CFM56-3C1 28873 Now Lease Tommy Guttman [email protected] +972-544-220000
B737-300 World Star Aviation Services CFM56-3C1 29266 1999 Feb 2017 Lease Tommy Guttman [email protected] +972-544-220000
B737-300 World Star Aviation Services CFM56-3C1 29267 1999 Feb 2017 Lease Tommy Guttman [email protected] +972-544-220000
B737-400 World Star Aviation Services CFM56-3C1 24332 Q4/2016 Lease Tommy Guttman [email protected] +972-544-220000
B737-400 Safair Operations Combi Now ACMI only C. Schoonderwoerd [email protected] +27 11 928 0000
B737-400 Aersale CFM56-3C1 25417 Now Sale / Lease Craig Wright [email protected] +1 305 764 3238
B737-400 Aersale CFM56-3C1 27149 1993 Now Sale / Lease Craig Wright [email protected] +1 305 764 3238
Aircraft Type Company Engine MSN Year Available Sale / Lease Contact Email Phone
ATR72-500 Aerotask PW127F/M 761 2007 Now ACMI Lease Robert Sitta [email protected] +97142500373
ATR72-500 Castlelake PW127F 518 1998 Now Sale / Lease Neil McCrossan [email protected] +44-207-190-6120
CRJ-200ER Regional One CF34-3B1 7452 2000 Now Sale / Lease Chris Furlan [email protected] +1(305) 759-0670 Ext.164
CRJ700 Regional One CF34-8C5B1 10029 2001 Now Sale / Lease Chris Furlan [email protected] +1(305) 759-0670 Ext.164
CRJ-900LR Regional One CF34-8C5 15057 2005 Now Sale / Lease Chris Furlan [email protected] +1(305) 759-0670 Ext.164
DASH8-102 Magellan Aviation Group PW121 113 1988 Now Sale / Lease Bill Polyi [email protected] +1 (704) 504 9204 x202
DHC8-200 Castlelake PW121 447 1996 Now Sale / Lease Neil McCrossan [email protected] +44-207-190-6120
DHC8 311 C tl l k PW123 286 1991 N S l / L N il M C il @ tl l k +44 207 190 6120
Regional Jet / Turboprop Aircraft (cont.)
DHC8-311 Castlelake PW123 286 1991 Now Sale / Lease Neil McCrossan [email protected] +44-207-190-6120
DASH8-311 Regional One PW121 230 1990 Now Sale / Lease Chris Furlan [email protected] +1(305) 759-0670 Ext.164
DASH8-311 Magellan Aviation Group PW123 266 1991 Now Sale / Lease Bill Polyi [email protected] +1 (704) 504 9204 x202
Dornier 328-300
Regional One PW306B 3145 2000 Now Sale / Lease Chris Furlan [email protected] +1(305) 759-0670 Ext.164
Dornier 328-300
Regional One PW306B 3185 2001 Now Sale / Lease Chris Furlan [email protected] +1(305) 759-0670 Ext.164
ERJ-135ER Bristol Associates 145176 1999 Now Sale Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ-135ER Bristol Associates 145186 1999 Now Sale Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ-135ER Bristol Associates 145192 1999 Now Sale Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ-135LR Bristol Associates AE3007-A1 145410 2001 Now Sale / Lease Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ-135LR Bristol Associates AE3007-A1 145413 2001 Now Sale / Lease Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ 135LR Bristol Associates AE3007 A1 145504 2001 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates com +1 202 682 4000ERJ-135LR Bristol Associates AE3007-A1 145504 2001 Now Sale / Lease Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ-145LR Bristol Associates AE3007-A1/3 145208 1999 Now Sale / Lease Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ-145LR Bristol Associates AE3007-A1/3 145239 2000 Now Sale / Lease Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
ERJ-145LR Bristol Associates AE3007-A1/3 145302 2000 Now Sale / Lease Ed McNair / Pete Seidlitz [email protected] +1 202-682-4000
F100 Aerotask Tay 650-15 11498 1994 Now Sale Robert Sitta [email protected] +97142500373