Tag: agreement (Page 17 of 20)

Embraer Welcomes Amaszonas to the E-Jets Family

October 20, 2019 / WIL BALDWIN

São José dos Campos, Brazil, October 15, 2019 – Amaszonas Línea Aérea of Bolivia is the newest Embraer E-Jet operator. The airline started flying an E190 today between Santa Cruz de la Sierra’s Viru Viru Airport and La Paz. Amaszonas is adding a total of six E190s to its fleet. The airplanes will fly to several domestic and international destinations.

“We have been working with Amaszonas for a long-time. To see the E190 flying in the airline’s colors is really rewarding for Embraer,” said Reinaldo Krugner, Vice President, Latin America & Caribbean, Embraer Commercial Aviation. “The E190 is the ideal aircraft to support the airline’s growing capacity in a very disciplined way. Amaszonas is taking advantage of the E190’s low operating cost.”

The first two E190s are leased from GECAS and configured with 112 seats in a single class layout. The other four aircraft will be leased from CDB Leasing and have 110 seats in a single class layout. The airline will also operate the E190s at Montevideo’s Carrasco International Airport in the future.

“The range of the E190 allows us to replace our smaller regional jets and support our expansion plans in Bolivia and Uruguay,” Sergio de Urioste, President & CEO of Amaszonas Línea Aérea. “Our E-Jets give us the flexibility we need to add more frequencies and destinations. We know our passengers are going to love the comfort of the E190 cabin.”

Embraer and Amaszonas have also signed a Flight Hour Pool Program agreement until 2024 to provide repairable component support for the carrier’s fleet of up to six E190s. The multiyear program features both the Pool Program and repair management services for the carrier’s fleet of E-Jets, including material services engineering and advanced component exchanges from Embraer’s spare parts distribution center in Fort Lauderdale, Florida.

Embraer is the world’s leading manufacturer of commercial aircraft up to 150 seats with more than 100 customers across the world. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,500 aircraft have been delivered. Today, E-Jets are flying in the fleets of 80 customers in 50 countries. The versatile 70 to 150-seat family is flying with low-cost airlines as well as with regional and mainline network carriers.

Airbus and Air Austral Sign Purchase Agreement for 3 A220’s

October 14, 2019 / WIL BALDWIN

Air Austral, France’s Réunion Island-based airline, has signed a firm order for three A220 aircraft, Airbus’ newest family member. With this order Air Austral becomes the first A220 customer based in the Indian Ocean region. Benefitting from a 20% reduction in fuel burn and CO2 emissions, the A220s will enable Air Austral to reduce its costs and carbon footprint on international routes in the region.

“Air Austral has chosen the A220-300 as part of the renewal of its Medium and Short Haul fleet. These new-generation aircraft will join the airline from the end of 2020 with the aim of harmonising part of its fleet and strengthening its operations,” said Marie-Joseph Malé, Chief Executive Officer of Air Austral. The economic and operational performance of the A220 opens new possibilities for the development of our regional network from our main base – Réunion Island – in an efficient and rational way. The 132-seat capacity module, which is more flexible, will allow us to increase our frequencies while offering more comfort to our customers and crews,” he added.

“With its unrivalled performance and operational flexibility, the A220 is the perfect aircraft for Air Austral to reinforce routes between Réunion Island and its neighbours in the Indian Ocean, as well as connecting the island further afield,” said Christopher Buckley, Executive Vice-President Commercial – Airbus. “Airlines from all around the world are acknowledging the A220’s economics and it is a great honour that Air Austral will be the first A220 operator in the region.”

The design of the new clean sheet single-aisle aircraft allows for more seats, offering extra revenue potential to airlines, especially to those located in remote areas, and extra usable cargo volume capacity.

The A220 is the only aircraft purpose-built for the 100-150 seat market; it delivers unbeatable fuel efficiency and widebody passenger comfort in a single-aisle aircraft. The A220 brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines to offer at least a 20% lower fuel burn per seat compared to previous generation aircraft, along with significantly lower emissions and a reduced noise footprint. The A220 offers the performance of larger single-aisle aircraft.

Ryanair German Pilots Vote (99%) For 4 Year Collective Labour Agreement

October 3, 2019 / WIL BALDWIN

Ryanair today (02 Oct) confirmed that its pilots based in Germany have voted by a majority of 99% in favour of a 4 year Collective Labour Agreement (VTV), to cover all Ryanair’s directly employed pilots in Germany until March 2023.

The agreement, negotiated between Ryanair and the pilot union VC, will deliver a new pay structure along with a fixed 5/4 roster. Ryanair and VC have also agreed a Social Plan to govern German base closures or reductions.

Air Lease Announces Placement of New Boeing 787-9 Aircraft with MIAT Mongolian Airlines

October 3, 2019 / WIL BALDWIN

Today Air Lease Corporation (AL) announced a long-term lease agreement with MIAT Mongolian Airlines for one new Boeing 787-9 aircraft. This aircraft, scheduled to deliver to the airline in Spring 2021 from ALC’s order book with Boeing, will be the first 787-9 to operate in Mongolia as well as the first Dreamliner in MIAT Mongolian Airlines’ fleet.

“ALC is honored to announce this significant lease placement with MIAT Mongolian Airlines and be the first to introduce the airline to the Dreamliner,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “We are proud to support the national carrier as it expands its fleet with the most technologically advanced aircraft to connect Mongolia with the rest of the world.”

“Our vision is to become a globally recognized Mongolian national flag carrier, and we are making a significant step forward by adding the first 787-9 Dreamliner to our fleet,” said Battur Davaakhuu, President and CEO, MIAT Mongolian Airlines. “The Mongolian Dreamliner will fly our passengers direct and in unmatched comfort to their dream destinations. Today is a proud day for MIAT and for all Mongolians.”

“It will be wonderful to see the 787 Dreamliner in MIAT Mongolian Airlines’ livery flying in and out of Ulaanbaatar and connecting Mongolia with key destinations across Asia and Europe. The airline has continued to build on its proud aviation history by modernizing its fleet and operations. We are honored MIAT has selected the 787 and its superior fuel efficiency and range to profitably grow their international network,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing for The Boeing Company. “We are delighted to partner with leading lessor ALC, which has a tremendous portfolio of 787 Dreamliners and other advanced jets, to open a new chapter in MIAT’s history.”

MIAT Mongolian Airlines currently operates two Boeing 737 MAX 8 aircraft and one 737-800 aircraft on lease from ALC.

Delta TechOps and ORIX Aviation Systems Sign Major Engine Maintenance Contract

September 21, 2019 / WIL BALDWIN

Delta TechOps, the maintenance, repair and overhaul (MRO) division of Delta Air Lines, has signed a five-year Maintenance Services Agreement with top-tier aircraft leasing company ORIX Aviation Systems, Ltd. (ORIX Aviation). The agreement will cover the support of CFM56-5B and CFM56-7B aircraft engines.

As both an operator of, and MRO for CFM56-5B and -7B engines, Delta TechOps is uniquely qualified to provide maintenance services to ORIX. Delta TechOps has been maintaining CFM56 engines for numerous years and will be able to pass along the same operational reliability and expertise to this globally-established lessor.

“We are proud that ORIX Aviation has selected Delta TechOps for their CFM56 engine maintenance needs,” said Mike Moore, Delta’s Senior Vice President – Maintenance Operations. “The agreement is a testament to our relationship and commitment to excellent customer service. We look forward to building on this partnership with this major aircraft lessor in the coming years.”

“We are pleased to have the expertise of Delta TechOps on board in support of CFM56-5B and CFM56-7B technical requirements which the ORIX Aviation team may have going forward,” said James Meyler, CEO – ORIX Aviation Group.

Embraer Signs Heavy Maintenance Agreement with Horizon Air

September 10, 2019 / WIL BALDWIN

Nashville, Tennessee, USA, September 10, 2019 – Embraer announced today that Horizon Air, a subsidiary of Alaska Air Group, has selected Embraer Aircraft Maintenance Services (EAMS) in Nashville, Tennessee, as the exclusive heavy maintenance provider for the company’s fleet of 30 Embraer E175 aircraft.

The multi-year agreement includes airframe maintenance, modifications and repair services provided by Embraer’s portfolio of solutions TechCare. Fittingly, the deal was signed at the Regional Airline Association’s 44th Annual Convention that took place in EAMS’s hometown of Nashville, Tennessee.

“We are delighted to further expand our relationship with Horizon Air, and we are honored that our valued customer has selected EAMS as their home for Embraer heavy maintenance,” said Phil Bathurst, Managing Director, Embraer Aircraft Maintenance Services.

“We introduced our first E175s in 2017. Now, with 30 E-Jets in operation, we are ready to expand our great partnership with Embraer, as they conveniently accommodate our heavy maintenance needs in Nashville, Tennessee,” said George Knobloch, Vice President of Maintenance and Engineering at Horizon Air.

About Embraer Aircraft Maintenance Services (EAMS)

With convenient locations in Nashville, TN and Macon, GA, EAMS is the world’s center of excellence for Embraer ERJ and E-Jet heavy maintenance and component repair. EAMS has performed maintenance on over 4,000 aircraft since 2008, of which more than 2,500 were heavy maintenance checks. The two facilities offer 15 hangar bays with more than 600 highly skilled technicians and have more than 3,500 components part numbers on their repair capabilities. EAMS is a Certified Repair Station under the following regulatory authorities: USA (FAA), Europe (EASA), Australia (CASA), Mexico (DGAC), Ecuador (DGAC), El Salvador (AAC), and Colombia (UAEAC).

Boeing, China Airlines Finalize Order for Six 777 Freighters

September 4, 2019 / WIL BALDWIN

Carrier to modernize its freighter fleet with six of the world’s largest, most capable twin-engine freighters

SEATTLE, Sept. 4, 2019 /PRNewswire/ — China Airlines finalized its agreement with Boeing [NYSE: BA] to order six 777 Freighters to modernize its cargo fleet. The carrier, which currently operates one of the world’s largest 747 Freighter fleets, plans to transition to the largest and longest range twin-engine freighters in the industry as it launches operations from Taipei to North America, a key market that provides higher yields for the carrier.

Valued at $2.1 billion according to list prices, China Airlines had previously announced its intent to order up to six 777 Freighters at the Paris Air Show in June. Three of the six 777 Freighter orders were confirmed in July and posted to Boeing’s Orders and Deliveries website as an unidentified customer. The remaining three will post during the next update.

The versatile 777 Freighter can fly long-range trans-Pacific missions in excess of 6,000 nautical miles with 20 percent more payload than other large freighters like the 747-400F. The airplane, which is capable of carrying a maximum payload of 102 tons, will allow China Airlines to make fewer stops and reduce associated landing fees on these long-haul routes. As a result, it will provide China Airlines and other operators with the lowest trip cost of any large freighter and deliver superior ton-per-mile economics. In addition, the 777 Freighter features market-leading capacity for a twin-engine freighter, accommodating 27 standard pallets, measuring 96 inches by 125 inches (2.5 m x 3 m) on the main deck. This allows for lower cargo handling costs and shorter cargo delivery times.

“Air cargo is an important part of our overall business and the introduction of these new 777 Freighters will play an integral role in our long-term growth strategy,” said China Airlines Chairman Hsieh Su-Chien. “As we transition our freighter fleet to the 777Fs, this will enable us to deliver world-class services to our customers more efficiently and reliably.”

China Airlines, which marks its 60^th anniversary this year, currently operates 51 Boeing airplanes, including 10 777-300ERs (Extended Range), 19 Next-Generation 737s, four 747-400s and 18 747 Freighters.

“As China Airlines celebrates more than half a century of success, Boeing is honored to continue playing an integral role in its growth and expansion. With this order China Airlines will join an elite group of global air cargo operators operating new 777 Freighters,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing for The Boeing Company. “With the global air freight market forecasted to double over the next 20 years, the 777 Freighter’s market-leading capabilities and economics will help China Airlines extend their network and grow their future cargo business.”

The addition of 777 Freighters will enable the carrier to streamline maintenance and parts for its 777 fleet. The carrier uses a number of Boeing Global Services solutions to support its Boeing fleet operations, including Airplane Health Maintenance and Maintenance Performance Toolbox. These data-driven platforms track real-time airplane information, providing maintenance data and decision support tools that allow technicians to quickly and correctly resolve issues. On the ground and in the air, China Airline’s entire fleet uses Jeppesen FliteDeck Pro and access to digital navigation charts to optimize performance and enhance situational awareness.

Lufthansa, Deutsche Bahn Settle Air Cargo Dispute

August 30, 2019 / WIL BALDWIN

German flag carrier Lufthansa and German national railway Deutsche Bahn have reached agreement on a long-festering dispute concerning an air cargo cartel.

The settlement was announced Aug. 26, although details are being kept confidential by mutual agreement.

The settlement ends a dispute before the Cologne regional court that has been ongoing since 2013.

Settling parties are DB Barnsdale, a wholly owned subsidiary of Deutsche Bahn, and Lufthansa Group member companies Lufthansa Cargo, Swiss International Air Lines and Deutsche Lufthansa.

Click the link for the full story! https://finance.yahoo.com/news/lufthansa-deutsche-bahn-settle-air-170533046.html

Apollo and Athene to Acquire PK AirFinance From GECAS

August 29, 2019 / WIL BALDWIN

NEW YORK, Aug. 29, 2019 (GLOBE NEWSWIRE) — Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (APO); Athene Holding Ltd. (ATH); and GE Capital, the financial services arm of GE (GE), today announced that they have entered into a definitive agreement for Apollo and Athene to purchase PK AirFinance, an aviation lending business, from GE Capital’s Aviation Services (GECAS) unit. In connection with this transaction, Apollo will acquire the PK AirFinance aircraft lending platform and Athene will acquire PK AirFinance’s existing portfolio of loans.

PK AirFinance is a leading aircraft lending business that serves airlines, aircraft traders, lessors, investors and financial institutions globally with loans to borrowers in more than 40 countries. Financial details of the transaction were not disclosed, although the $3.6 billion of PK AirFinance financing receivables that were held for sale in the second quarter of 2019 are being sold at a premium to book value in this transaction.

Alec Burger, GE Capital President & CEO, said, “Apollo’s vast lending experience, complementary platforms, and exceptional track record across diversified assets and geographies make it the ideal partner to accelerate PK AirFinance’s growth. This sale is aligned to GE Capital’s overall strategy to become smaller and simpler, and our commitment to reduce our assets by $10 billion in 2019 is now more than halfway complete. We continue to focus on shrinking GE Capital’s balance sheet, achieving a debt-to-equity ratio of less than 4x by 2020, and supporting GE Industrial growth through our remaining GECAS, Energy Financial Services, and Industrial Finance businesses.”

Jim Belardi, CEO of Athene, said, “This transaction provides us with a unique opportunity to acquire a large, diversified portfolio of high-quality loans with attractive risk-adjusted returns. In addition, this deal is another great example of the unique benefits of our strategic relationship with Apollo and its commitment to building direct origination platforms in support of the continued growth of our business.”

James Zelter, Co-President of Apollo, said, “We are very excited to be acquiring the PK AirFinance platform which, under GE’s outstanding stewardship, has become one of the world’s leading aircraft lending businesses, and is highly complementary to our existing aircraft leasing capabilities. This transaction also demonstrates our ongoing commitment to meet the investment needs of Athene and our clients, and is consistent with our objective to continue to expand Apollo’s capabilities to directly originate high quality assets.”

PK AirFinance’s team of investment professionals, who primarily focus on originations and syndications as well as underwriting and portfolio management, will transfer to Apollo upon completion of the transaction.

Per Waldelof, president of PK AirFinance, said, “We have a great team of experts with tremendous execution capabilities and a proven ability to deliver results. We are confident that this transaction will ensure the continued stability of our business. We are excited for the opportunity to continue to serve our customers and the industry as part of the team at Apollo.”

The completion of the acquisition is subject to customary conditions and is expected to close during the fourth quarter of 2019. Citi and Goldman Sachs & Co. LLC provided financial advice and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Clifford Chance LLP provided legal advice to GE Capital. Citi, RBC Capital Markets, and Mizuho provided debt financing for the transaction, and RBC Capital Markets served as financial advisor to Apollo.

Bombardier Confirms 3 Year East Midlands Railway Contract

August 22, 2019 / WIL BALDWIN

New contract reaffirms long-standing relationships with Abellio and with Eversholt Rail
Derby Etches Park depot to maintain Bombardier Class 222s for East Midlands Railway mainline services until 2022

Rail technology leader Bombardier Transportation has announced today that it has signed a new Train Services Agreement (TSA) with Abellio and Eversholt Rail for the new East Midlands Railway franchise in the United Kingdom. Under the new agreement which lasts from today until December 31, 2022, Bombardier will maintain Bombardier class 222 diesel-electric multiple unit (DEMU) trains at Derby Etches Park depot for use on East Midlands Railway mainline services. The new agreement follows Bombardier’s previous role in maintaining the 125 miles per hour trains for the former East Midlands Trains franchise. The contract is valued at approximately £133 million GBP ($161 million US, €145 million euro).

Phil Hufton, President, Bombardier Transportation UK said, “We are delighted that we have reached agreement with Abellio to maintain the Class 222 fleet for East Midlands Railway’s mainline services. This important contract win is testament to our team at Derby Etches Park and their hard work and professionalism in continually delivering one of the highest performing and most reliable Intercity fleets.”

Steve Timothy, Client Relations Director, Eversholt Rail said, “We are pleased to be working in partnership with Bombardier Transportation to support the delivery of our Class 222 trains for the Sheffield – London mainline service to Abellio East Midlands Railway from 19th August”.

Under the Train Services Agreement, maintenance of the 27-strong fleet of Class 222 trains will take place at Derby Etches Park depot, where 130 staff are employed, with heavy component maintenance taking place at Bombardier Crewe.

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