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Wednesday, July 02, 2014

AviTrader Daily Aviation News Alert

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Emirates reject Delta’s apology regarding Anderson’s 9/11 comments

February 20, 2015 · 542 Views

The bitter dispute between US- and Gulf-based airlines has reached a new level after Emirates flatly rejected an open apology made concerning what was seen as incredibly tactless and insensitive remarks made by Delta’s Chief Executive, Richard Anderson. The unfortunate incident relates back to comments made by a group of American airlines that a number of the larger Gulf carriers had benefited from state subsidies amounting to a figure in excess of US$40bn. As a consequence the American airlines either wanted to renegotiate or scrap the current Open Skies agreement.
Offended by such claims, the Gulf carriers retaliated by questioning whether or not US airlines had received government subsidies totaling US$5bn in the wake of 9/11. Unfortunately Delta’s Anderson, responding to this claim on CNN, said: “It’s a great irony to have the United Arab Emirates from the Arabian Peninsula talk about that, given the fact that our industry was really shocked by the terrorism of 9/11, which came from terrorists from the Arabian Peninsula.” While the UAE and Qatar, two of the States’ allies who have offered either military or logistical support for international operations were particularly upset by these comments, Delta simply made it clear that Anderson had been responding to claims regarding post 9/11 subsidies. “He didn’t mean to suggest the Gulf carriers or their governments are linked to the 9/11 terrorists. We apologize if anyone was offended.”
Unfortunately the largest of the three main Gulf carriers did not see this as acceptable. “We believe that the statements made this week by Mr. Anderson were deliberately crafted and delivered for specific effect,” it confirmed in a statement. However US airlines continue to complain that they have lost significant numbers of bookings since 2008 as a result of Gulf competition and cited documents they indicate demonstrate aid which has allowed their competitors to offer cheap fares. In retaliation, Gulf officials say that most US carriers do not fly the same routes and are losing business only because they offer an inferior service.
This is not a dissimilar situation to the one between Gulf airlines and European carriers, including Lufthansa, and coincidentally has come at the same time as US airlines are trying to have US Exlm Bank closed down. They believe Gulf carriers are benefitting to a greater degree from the export credit agency. The tit-for-tat dialog continues with Western airlines showing concern for the safety of thousands of service industry jobs, a complaint to which Gulf carriers have responded by making it very clear they support at least as many jobs in the aerospace sector with their huge orders for aircraft.


Snecma and HAL to create joint venture and build a new production facility in India

February 20, 2015 · 640 Views

Snecma (Safran), a leading manufacturer of aircraft engines, and Hindustan Aeronautics  (HAL), a leading aerospace manufacturer, signed a Memorandum of Understanding (MoU) on January 28th, 2015 in Bangalore to explore establishing a joint venture in India for the production of aero-engine parts.  The proposed joint venture will initially focus on the manufacture of high-tech parts for the Dassault Rafale’s Snecma M88 engine, then subsequently contribute to other major aerospace projects of HAL & Snecma, in India and worldwide. Spanning over 30,000 m², the proposed joint venture’s new plant is expected to benefit from substantial investment by the two partners, providing it with state-of-the-art machinery and equipment. This agreement marks a major step forward in the long-standing collaboration between Snecma and HAL. The proposed joint venture will further broaden the scope of the excellent relations established over the past 60 years between Safran affiliates and the Indian aerospace industry. For example, Snecma manufactures the M53 engines powering the Mirage 2000H “Vajra” fighters operated by the Indian Air Force.


Design flaws led to 787 battery fire

December 2, 2014 · 195 Views

On the 7th January 2013 a fire was reported on board a Boeing 787 Dreamliner while parked at Boston’s airport in the USA. The fire was put down to a problem with one of the plane’s lithium-ion batteries. A week later an All Nippon Airways 787 Dreamliner had to make an emergency landing after smoke was discovered inside the plane which was subsequently traced back to another lithium-ion battery. As a consequence of this incident, all 787 Dreamliners were grounded until April of that year until further acceptable testing and improvements were carried out to the battery system on board the plane. The battery itself was manufactured by GS Yuasa and comprised eight individual cells making up a combined weight of 63lbs.
Nearly two years later and the results of the investigation into the first incident have concluded that the lithium-ion battery installed in the plane should not have received certification by the FAA. The National Transport Safety Board (NTSB) were also critical of Boeing who they believed had erroneously ruled out the chances of thermal runaway in its assessment of the battery’s safety. Boeing’s battery tests to obtain original certification included crushing battery cells, driving nails through them and deliberately introducing short circuits to cause failure. Boeing found “nothing adverse happened” while these tests were carried out, and so deemed the battery’s box and internal protection to be of an acceptable standard. Boeing stated that it had followed the certification process set out by the FAA. It would seem that while the cause of the fire has been clearly identified, responsibility for its occurrence has not been accepted in full by anyone.


Rolls-Royce forced to axe 2,600 jobs after second profit warning this year

November 5, 2014 · 162 Views

Back in February this year, Rolls-Royce, the FTSE-100 engine maker, lost over £3bn of its value after shocking the market with its first profits warning in a decade. To announce a second one this October has created considerable concern and Rolls-Royce has decided that over the next 18 months they need to reduce costs by up to £80m a year by axing 2,600 jobs, the majority of which will be in the aerospace sector in Britain and the United States. The focus is on Rolls-Royce’s key Trent engines as they move from the development to the production phase, which consequently requires fewer engineers.
Back in February John Rishton, Rolls-Royce group’s Chief Executive, had admitted that the future was “bumpier than I had expected”, while blaming the current problems on deteriorating economic conditions and a tit-for-tat trade war between the EU and Russia over the Ukrainian crisis which had affected its nuclear and energy business as well as its power-systems unit. This week Rishton has had to admit that “We are taking determined management action and accelerating our progress on cost. The measures announced today will not be the last; however they will contribute towards Rolls-Royce becoming a stronger and more profitable company.”
Another consequence of the situation is the unexpected departure of Finance Director, Mark Morris, leaving the company after 27 year without any explanation. He will be replaced by David Smith, who is being promoted from Finance Director of the Rolls-Royce Aerospace division. This second profit warning saw share value fall 11% to 832p, wiping a further £2bn off the company’s value. However, news of the redundancies was well received by investors and the share price rallied by 2%, currently standing at 832p. This is clear confirmation of comments made by Espirito Santo’s analyst, Ed Stacey, who indicated that investors would be expecting a clear message from the new Finance Director and tight control on all finances.


Air France-KLM selects GEnx engines for Boeing 787 fleet

March 25, 2014 · 111 Views

Air France-KLM selected the GEnx-1B engine to power its 25 Boeing 787 Dreamliners and 12 leased 787 aircraft. The total engine order is valued at more than $1.7bn. Air France-KLM and GE Aviation have also signed an agreement that will allow Air France-KLM to offer maintenance, repair and overhaul (MRO) services for the GEnx-1B engine. Under this agreement, Air France-KLM will be licensed to perform maintenance and overhaul work on the GEnx-1B engine and GE will provide technical support and assistance on overhaul workscoping and component repair licenses, comprehensive material support and training.


ILFC closes $1.5bn senior secured term loan

March 7, 2014 · 78 Views

International Lease Finance Corporation (ILFC) has closed a new senior secured term loan of $1.5 billion. The loan will bear interest at LIBOR plus 275 basis points with a 0.75% LIBOR floor, is priced at 99.5% of par value, and will mature in 2021. The collateral used to support the transaction has an initial weighted average age of 9.1 years. It will be secured primarily by a first priority-perfected lien on the equity of certain of ILFC’s subsidiaries, which directly or indirectly own a pool of aircraft and related leases. ILFC plans to use the proceeds for general corporate purposes, including purchasing aircraft and supporting the company’s liquidity cushion.


Airbus Commercial reports another year of financial improvement

February 26, 2014 · 78 Views

In 2013, Airbus achieved a new industry record of 1,619 gross commercial orders (FY 2012: 914 gross orders) with net orders of 1,503 aircraft (FY 2012: 833 net orders), excluding ATR. Gross orders comprised 1,253 A320 Family aircraft, 77 A330s, 239 A350 XWBs and 50 A380s. Fourth-quarter orders included Emirates Airline’s agreement for 50 A380s and Etihad Airways’ order for 50 A350 XWBs, 36 A320neos and one A330-200F. Airbus Military (now part of Airbus Defence and Space) received 17 net orders (FY 2012: 32 net orders). Airbus’ net order intake increased sharply to €202.3bn (FY 2012: €88.9bn). At the end of 2013, Airbus’ consolidated order book was valued at €647.4bn (year-end 2012: €525.5bn). The Airbus Commercial backlog was worth €627.1bn (year-end 2012: €505.3bn), comprising 5,559 Airbus aircraft (year-end 2012: 4,682 units) and representing over eight years of production. Airbus Military’s order book was worth €20.8bn (year-end 2012: €21.1bn). Airbus series aircraft deliveries increased to 626 aircraft (FY 2012: 588 aircraft, including three A330s without revenue recognition). Airbus Military delivered 31 aircraft (FY 2012: 29 aircraft). Airbus’ consolidated revenues increased seven percent to €42,012m (FY 2012: €39,273m), reflecting higher commercial and military aircraft deliveries. The Division’s consolidated EBIT rose to €1,710m (FY 2012: €1,252m). Airbus Commercial’s revenues rose to €39,889m (FY 2012: €37,624m). The Airbus Commercial reported EBIT was €1,595m (FY 2012: €1,147m) with the EBIT before one-off at €2,216m (FY 2012: €1,669m). Airbus Commercial’s EBIT before one-off benefitted from the improved operational performance, including favourable volume, some better pricing and an improvement in A380 losses. It also included higher A350 XWB programme support costs. Revenues at Airbus Military rose to €2,893m (FY 2012: €2,131m), driven by the A400M ramp-up and higher volumes from both light and medium transport planes and tankers. The EBIT at Airbus Military was €166m (FY 2012: €93m).


Boeing Commercial Airplanes reports full year revenue of $53bn

January 29, 2014 · 74 Views

Boeing Commercial Airplanes fourth-quarter revenue increased to $14.7bn and full-year revenue increased to a record $53bn on higher delivery volume. Fourth-quarter operating margin improved to 10.3% and full-year operating margin grew to 10.9% on the higher volume, favorable delivery mix and continued strong operating performance. During the quarter, the company launched the 777X with 259 orders and commitments. During the year, the 787 program completed first flight of the 787-9, successfully launched the 787-10 and began operating at a 10 per month production rate in final assembly. The 737 program delivered at a record production rate of 38 per month and has won nearly 1,800 firm orders for the 737 MAX since launch. In 2013, a record 648 commercial aircraft were delivered. In January 2014, the company reached an eight-year contract extension through 2024 with the International Association of Machinists & Aerospace Workers District 751 (IAM). Commercial Airplanes booked 465 net orders during the quarter and 1,355 during the year. Backlog remains strong with 5,080 airplanes valued at a record $374 billion.


A350 XWB in Bolivia for high altitude testing

January 9, 2014 · 65 Views

The A350 XWB development aircraft, MSN3, is in Bolivia where it will perform a series of tests at the high altitude airfields of Cochabamba and La Paz. Cochabamba is around 8,300 feet above sea level, and La Paz is one of the world’s highest airports at 13,300 feet. Operations at such high altitude airfields are particularly demanding on aircraft engines, Auxiliary Power Unit (APU) and systems. The aim of these trials is to demonstrate and validate the full functionality of engines, systems, materials as well as to assess the overall aircraft behaviour under these extreme conditions. A number of take-offs with all engines operating and with simulated engine failures are being performed at each of the airfields to collect data on engine operating characteristics and validate the aircraft take-off performance. The autopilot behaviour will also be evaluated during automatic landings and go-arounds. Since the A350 XWB’s first flight with MSN1 on June 14th 2013, over 800 flight test hours have been performed in close to 200 test flights by both MSN1 and MSN3. In total the A350 XWB flight test campaign will accumulate around 2,500 flight hours with the fleet of five aircraft. The rigorous flight testing will lead to the certification of the A350-900 by the European EASA and US FAA airworthiness authorities, prior to entry into service in Q4 2014.


Firefly welcomes first ATR 72-600

July 5, 2013 · 64 Views

Firefly, Malaysia Airlines’ subsidiary carrier has taken ownership of its first brand-new ATR 72-600. The aircraft is the first of 20 latest generation firm ATRs, plus 16 options, ordered by Malaysia Airlines in December 2012. Firefly currently operates 12 ATR 72-500s, and with the arrival of the new ATR 72-600s will almost triple its exclusively ATR 72 aircraft fleet, taking the total to over 30 aircraft.


GE’s Passport engine begins first full engine test

June 26, 2013 · 40 Views

Certification testing is underway on the first Passport development engine at GE Aviation’s Peebles Testing Operation in Ohio. The engine began ground testing on June 24th and ran for more than three hours, reaching more than 18,000 lbs. of standard day sea-level takeoff thrust. Eight Passport engines and one core will be involved in the engine certification program. Flight testing on GE’s flying testbed is scheduled for 2014. Engine certification is expected in 2015. The Passport engine certification program follows three years of validation testing. GE Aviation has conducted validation tests on the fan blisk design, including two fan blade-out rig tests, ingestion tests and a fan aero rig test to demonstrate fan efficiency. Testing is complete on the third eCore demonstrator, and GE has accumulated more than 300 hours of testing on eCore demonstrators to date.


Rolls-Royce wins order from CIT to power 23 aircraft

May 22, 2013 · 53 Views

Rolls-Royce has won an order from US leasing company CIT Aerospace for Trent XWB engines, to power ten Airbus A350 XWB aircraft and Trent 700 engines to power 13 Airbus A330 aircraft. The Trent XWB engines will power ten CIT A350 aircraft that were announced in January 2013 which were in addition to five A350 XWB aircraft already on order. The Trent XWB, specifically designed for the Airbus A350, is the fastest selling Trent engine ever, with more than 1,200 already sold. The engine variant that will power the A350-800 and -900 was awarded European Aviation Safety Agency (EASA) type certification in February. The engine will power the first flight of the Airbus A350 XWB this year and the aircraft’s first in-service flight in 2014.


DHL signs 15th conversion agreement with Precision Aircraft Solutions

June 30, 2014 · 149 Views

Precision Aircraft Solutions has begun conversion of a DHL-owned 757 aircraft, MSN 28718. The aircraft will be operated in India by Blue Dart Aviation, a DHL affiliate. It will be the 15th overall aircraft and the fifth 757 plane converted by Precision to fly in the DHL global network. The conversion is underway at TAECO in Xiamen, PRC, with redelivery targeted for early October. DHL currently operates 14 Precision-converted aircraft around the globe, including several in India, Australia, North America, the Republic of Panama and the Kingdom of Bahrain.


ATS in Kansas City set to work on global transport aircraft

June 30, 2014 · 114 Views

Aviation Technical Services’ new aircraft maintenance facility at the Kansas City Missouri International Airport received certification from the Federal Aviation Administration (FAA) that enables it to perform maintenance, repair and overhaul (MRO) services on virtually any transport category aircraft in the world. This certification is the latest milestone for the new ATS location, which specializes in heavy maintenance and modification of large aircraft. Previously, the Kansas City facility operated under an FAA authorization granted through ATS’ FAA‐certified repair station in Everett, Washington. With this new certification, ATS‐Kansas City has received its own FAA Class IV Airframe rating and is supplemented by an additional limited airframe rating specifically for Boeing‐787 aircraft.


Horizon Air aircraft technicians, fleet service agents ratify new six-year contract

June 30, 2014 · 62 Views

Horizon Air’s aircraft technicians and fleet service agents have ratified a new six-year contract, the airline and the International Brotherhood of Teamsters (IBT) announced on June 27th. About 94% of members participated, and 53% of those voted in favor of the agreement. The contract, ratified well ahead of the amendable date of Dec. 16th, 2014, includes a ratification bonus, annual wage increases and contract language enhancements. Horizon Air and IBT reached tentative agreement on the new contract in May 2014. Under the Railway Labor Act, which governs collective bargaining agreements in the airline industry, contracts do not expire. Instead they become amendable. The ratified agreement for Horizon’s technicians becomes amendable in 2020.


First production HondaJet takes to the skies

June 30, 2014 · 159 Views

The first production HondaJet achieved its initial flight, marking another milestone toward aircraft certification and entry into service in 2015. The event took place at the company’s world headquarters in Greensboro, North Carolina. The first production aircraft lifted off from the Piedmont Triad International Airport. During the 84-minute flight, the aircraft climbed to 15,500 feet and reached a speed of 348 Knots True Airspeed (KTAS). The aircraft was flown by test pilot Warren Gould, pilot-in-command. The crew completed several checks during the flight including low and high speed handling characteristics, avionics and system functionality including landing gear, flaps and speed brake operations. This aircraft is finished in the new signature HondaJet paint scheme in a deep green pearl with a gold stripe. The new color introduction is in addition to four exterior color options available to customers, which also include silver, red, yellow and blue. Aircraft production continues its steady pace in advance of entry into service. This steady build-up supports the company’s objective to have aircraft ready for delivery immediately after Federal Aviation Administration type certification is achieved. The HondaJet will be single-pilot certified and is currently offered for sale in North America and Europe through the HondaJet dealer network.


Boeing delivers 1,500th 747

June 30, 2014 · 89 Views

Boeing has delivered the 1,500th 747 to come off the production line to Frankfurt, Germany-based Lufthansa. The milestone airplane is a 747-8 Intercontinental, the 14th one that Lufthansa will incorporate into its long-haul fleet. Lufthansa is the launch customer of the 747-8 Intercontinental and took delivery of its first airplane in April 2012. The airline has 19 747-8 Intercontinentals on order.


Moog signs contract with Scoot for long term support of Moog flight control systems on fleet of 787 aircraft

June 30, 2014 · 96 Views

Moog and Scoot, a subsidiary of Singapore Airlines, signed a 12 year exclusive contract for comprehensive support of the Moog Flight Control Systems on Scoot’s fleet of Boeing 787 aircraft. The program will include maintenance and inventory support via Moog’s strategically selected worldwide stocking locations, giving Scoot 24/7 access to spares no matter where their aircraft are located. Moog, the provider of both primary and high lift flight control systems on the 787, recently launched an entirely new suite of aftermarket support solutions. The Moog Total Support program is aimed at providing airlines with a comprehensive range of services for Moog products, including inventory and maintenance support.


Triumph Group acquires GE Aviation Hydraulic Actuation business

June 30, 2014 · 162 Views

Triumph Group reported the completion of the previously announced acquisition of the hydraulic actuation business of GE Aviation. The acquired business will operate as Triumph Actuation Systems-Yakima and Triumph Actuation Systems- UK & IOM. The business is expected to add approximately $180m in annual revenue and to be immediately accretive to earnings. The purchase price was approximately $70m. Employing approximately 475 employees, the business is a technology leader in actuation systems and does extensive business with Boeing, Airbus and other major airframers. Key product offerings include complete landing gear actuation systems, door actuation, nose-wheel steering, hydraulic fuses, manifolds, flight control actuation and locking mechanisms for the commercial, military and business jet markets.


Waypoint Leasing expands revolving credit facility to $468m

June 30, 2014 · 122 Views

Waypoint Leasing, a leading global helicopter leasing company, has increased the committed borrowing capacity under its five year revolving credit facility from $335m in November 2013 to $468m as of June 30, 2014. The facility bolsters Waypoint’s ability to continue adding attractive and diversified helicopter assets to its fleet, which today includes over 40 aircraft delivered and on lease. Financial institutions that have joined the facility the past six months include Barclays Bank PLC, Citi, RBC Capital Markets, and asset financier, Lombard. The facility includes an unfunded revolving accordion feature to expand the borrowing capacity further, up to $550m.


Boeing offers Next-Generation KC-46 Tanker in Republic of Korea competition

June 30, 2014 · 116 Views

Boeing formally offered to the Republic of Korea (ROK) the KC-46, the U.S. Air Force’s next-generation tanker, as Korea prepares to acquire four aircraft for its first tanker squadron. Boeing made the offer in response to Korea’s request for proposals for an aerial refueling tanker. Korea’s Defense Acquisition and Program Administration is expected to complete its competition by the end of this year. The KC-46 leverages Boeing’s 75 years of expertise with air refueling systems. In addition to its refueling mission, it can transport cargo, passengers and support aeromedical evacuations. Boeing will build and deliver to the U.S. Air Force 179 KC-46As by 2027 if all options under the contract are exercised.


Bombardier’s Challenger 350 aircraft enters into service with first delivery to NetJets

June 30, 2014 · 166 Views

NetJets, a Berkshire Hathaway company and the worldwide leader in private aviation, together with Bombardier Aerospace, revealed the first Signature Series Challenger 350 aircraft at Westchester County Airport in White Plains, NY. This event marked the official entry-into-service of the Challenger 350 aircraft. Bombardier Business Aircraft President Éric Martel presented the ceremonial keys to NetJets Chairman and CEO Jordan Hansell before unveiling the aircraft to employees and invited guests. NetJets is the worldwide launch customer for the Challenger 350 aircraft and will add eight of the jets to its fleet this year.


Rolls-Royce combines businesses to bring new benefits to engine life management

June 30, 2014 · 155 Views

Rolls-Royce announced the merger of two wholly owned subsidiaries, Aero Engine Controls (AEC) and Optimized Systems and Solutions (OSyS), to form a new business, Controls and Data Services (CDS), which will continue to operate as part of the Rolls-Royce Group. The new business will bring together equipment sensors, controls and monitoring systems with performance analysis and health management services, delivering greater asset intelligence at a faster pace. Colin Smith, Rolls-Royce, Director of Engineering and Technology, said: “Being world leaders in controls and data analysis is key in supporting Rolls-Royce’s promise of better power for a changing world. With the creation of Controls and Data Services, Rolls-Royce will be able to provide an integrated end to end capability that will enhance our asset lifecycle management solutions.” Controls and Data Services will operate across all Rolls-Royce market sectors, Civil and Defense aerospace, Industrial Power and Marine. The business will continue to support current customers in High Integrity Controls and Monitoring and Data Solutions functions, strengthening the current offering while building new integrated capability.


AviaAM Leasing delivers Orenair another Boeing 737 Next Generation

July 1, 2014 · 81 Views

AviaAM Leasing, a WSE listed global aviation holding company engaged in commercial aircraft acquisition, leasing and sales, is further developing its cooperation with Russian carriers by supporting Orenburg Airlines with another Boeing 737-800 aircraft. Under the cooperation, the aircraft is already the third Boeing 737 NG delivered to the Orenair’s fleet. Prior to the aircraft’s delivery, AviaAM Leasing has conducted a wide range of maintenance works, including C-Check, as well as cabin repainting and renewal. The aircraft is already delivered to the carrier, fully set to operate both regional and international flights.


Gama Aviation opens private aviation terminal at Sharjah International Airport

July 1, 2014 · 68 Views

Gama Aviation FZE  opened its exclusive executive terminal (FBO) at Sharjah International Airport, creating a full service private aviation hub serving Sharjah, Dubai and the Northern Emirates. The new facility, which is the latest stage of development by Gama Aviation, its investors including Crescent Enterprises, Growthgate Capital, and Sharjah’s Department of Civil Aviation, was inaugurated by H.E. Sheikh Abdullah Bin Mohammed Al Thani. The facility at Sharjah International Airport is already performing above its target for weekly movements as operators and owners seek to cut the transit time of principals and crew to the Northern Emirates.


Clay Jones to retire from Rockwell Collins Board of Directors on July 31st

July 1, 2014 · 87 Views

The Rockwell Collins Board of Directors announced that Clay Jones will retire from his role as a director and non-executive chairman of the board on July 31st. Anthony Carbone, an independent director and long-time member of the Board, has been appointed Jones’ successor as non-executive chairman effective August 1st.


Ducommun wins contract for Boeing 737 MAX

July 1, 2014 · 86 Views

Ducommun Incorporated has received a contract from Boeing to produce engine inlet bulkheads for the 737 MAX — Boeing’s newest family of single-aisle airplanes. Ducommun will produce the titanium assemblies at its Parsons, Kan. operations center and ship them for integration into 737 MAX engine nacelle inlets at Boeing’s new Propulsion South Carolina facility. Ducommun has provided structural solutions for the 737 platform since its inception. This is an excellent win for Ducommun, as we expand our relationship with Boeing on the 737 MAX platform,” said Anthony J. Reardon, chairman and chief executive officer. ”In addition, this is the first time our Kansas operation will work directly with Boeing as a sole-sourced supplier, a major achievement. Our team will use proprietary manufacturing processes and materials that will enhance the fuel efficiency and lower operating costs for this highly-anticipated commercial jetliner.”


Boeing names Craig Cooning President of Network & Space Businesses

July 1, 2014 · 75 Views

Boeing has named Craig R. Cooning president of its Network & Space Systems (N&SS) businesses, effective immediately. Cooning succeeds Roger Krone, who took a position at another company. Cooning had been the vice president and general manager of Space & Intelligence Systems within N&SS. He now reports directly to Chris Chadwick, president and CEO of the Boeing Defense, Space & Security business unit.


GOL closes a US$68m financing of seven years

July 1, 2014 · 122 Views

GOL Linhas Aereas Inteligentes S.A., the largest low-cost and low-fare airline in Latin America, has closed a financing of US$68m with Credit Agricole Corporate and Investment Bank (“Ca-Cib”), guaranteeing 12 proprietary spare CFM56-7B engines, with the possibility of increasing an additional US$100m for future proprietary engine deliveries. The financing is over seven years at a cost of Libor+225bps, with quarterly amortizations of the principal and interest as of September 2014. The operation is in line with GOL’s strategy of maintaining high liquidity and making rational use of this liquidity in order to reduce the cost of the Company’s debt.


BAE Systems announces enhanced partnership with Riyadh Wings

July 1, 2014 · 155 Views

BAE Systems announced a reorganisation of its portfolio of interests in a number of industrial companies in the Kingdom of Saudi Arabia and an enhancement of its existing relationship with Riyadh Wings Aviation Academy (Riyadh Wings). Through a number of transactions, the reorganisation will bring together shareholdings of the BAE Systems group and Riyadh Wings in Saudi companies specialising in training, electronics and IT systems engineering under a single holding company. Riyadh Wings will progressively acquire a 49% stake in the holding company with BAE Systems continuing to hold a majority stake. The reorganisation is expected to enhance the growth prospects of these businesses in the Kingdom of Saudi Arabia. No material near-term impact on underlying earnings for the Group is expected to arise from these transactions. Completion of the transactions to effect the reorganisation is conditional on the satisfaction of certain regulatory approvals.


Boeing completes delivery of Canadian CH-147F Chinooks

July 1, 2014 · 164 Views

Boeing and the Royal Canadian Air Force celebrated the delivery of the 15th CH-147F Medium-to-Heavy-Lift Helicopter, ensuring advanced operational capability for the Canadian Chinook fleet. The Canadian CH-147F is an advanced, multi-mission helicopter that features a modernized airframe with a long-range fuel system allowing it to fly twice as far as standard range models. An upgraded electrical system provides additional power and redundancy, while a fully integrated Common Avionics Architecture System cockpit and Digital Automatic Flight Control System reduce pilot workload and provide greater situational awareness. The aircraft also has an advanced Aircraft Survivability Equipment suite that includes a Directional Infrared Countermeasures system that increases crew safety while allowing operations to be conducted in a wider range of threat environments. Boeing is providing in-service support to the CH-147F fleet over the next 20 years under a Performance-Based Logistics contract, with Canadian industry playing a key role. The final CH-147F will join the Royal Canadian Air Force’s 450 Tactical Helicopter Squadron, under command of 1 Wing Kingston, Ontario, and will be based at CFB Petawawa.


Unidentified customer orders up to 24 Bombardier CRJ900 NextGen aircraft

July 1, 2014 · 155 Views

A customer, who has requested to remain unidentified at this time, has placed a firm order for 16 Bombardier CRJ900 NextGen regional jets and has also taken options for eight additional airliners of the same type. Based on the list price for the CRJ900 NextGen aircraft, the firm order is valued at approximately US$727m. The value could increase to US$1.12bn should the customer exercise its options.


TES Aviation Group appoints new CEO

July 1, 2014 · 282 Views

Ashley Cooper, Founder and CEO of TES Aviation Group, will step down from his executive position effective July 4th 2014. The Board of Directors announced that Mathew Burris, who is currently COO, will assume the position of CEO. Ashley Cooper will remain on the Board of TES Aviation Group as a Non-Executive Director.