Tag: ge (Page 2 of 3)

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.

India’s Jet Airways Recovery Still On Shaky ground

February 21, 2019 / WIL BALDWIN

Feb 21 (Reuters) – India’s Jet Airways Ltd has approved a rescue deal by the lenders of the carrier reeling under a net debt of 72.99 billion rupees ($1.02 billion), but doubts linger over whether the bailout would help it clear dues on time.

The resolution plan will make Jet’s lenders its largest shareholders and fix a near 85 billion rupee funding gap.

Jet has been steadily losing market share to its rival and low-cost carrier IndiGo, which is owned by InterGlobe Aviation Ltd.

The airline has also seen its share price suffer as it navigated through several negotiations with its lenders and shareholders.

For an interactive graphic on the airline’s market value, click https://tmsnrt.rs/2V2ef8x

Jet takes the resolution plan to its shareholders on Thursday, where it will seek their approval to convert debt into 114 million shares.

Here are some major developments in Jet’s story:

Aug 3 – Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale

Aug 9 – Airline defers board meet for first-quarter results

Aug 11 – After State Bank of India chairman says Jet’s loan is on the bank’s watch list, Jet says it is regular in payment obligations to all banks

Aug 20 – Sources tell Reuters that private equity firm TPG Capital is considering investing in Jet, but is not close to finalising a deal

Aug 27 – Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years

Sept 6 – Jet says it paid salaries to 84 percent of its employees after reports emerge that pilots warned ‘non-cooperation’ over salary default

Oct 4 – Rating agency ICRA downgrades https://www.icra.in/Rationale/ShowRationaleReport/?Id=73861 the company’s long term loans and NCDs

Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report “speculative”

Oct 30 – U.S.-based Delta Air Lines Inc expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways

Nov 5 – Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways’ 24 percent stake, and merge Jet with Vistara

Nov 12 – Jet posts third straight quarterly loss

Nov 13 – Tata Sons begins due diligence to buy Jet, reports say

Nov 15 – Shares surge nearly 25 percent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet

Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made

Nov 22 – Independent director Ranjan Mathai resigns, citing rising pressure from other commitments

Dec 3 – Jet says it will stop providing free meals to most domestic economy class passengers from January

Dec 5 – Jet and Etihad Airways have been holding rescue talks with Jet’s bankers, sources tell Reuters

Dec 6 – Jet tells its pilot union it will clear all salary dues by April, a source tells Reuters

Dec 7 – ICRA cuts https://www.icra.in/Rationale/ShowRationaleReport/?Id=75657 Jet rating yet again

Dec 14 – Goyal’s penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters

Jan 2, 2019 – The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again

Jan 10 – Jet proposes to creditors that it will catch up with debt payments in arrears by September, and from April will meet debt payments as they come due, according to a document seen by Reuters

Jan 11 – Some aircraft lessors were prompted to explore taking back aircraft from Jet, people familiar with the matter told Reuters. Etihad is not “in any position to sink new equity into Jet at this juncture”, says a person familiar with Etihad’s position.

Jan 14 – Report states Goyal is likely to step down from the board and give up majority control

Jan 16 – TV channel reports that Etihad offered to buy Jet shares at a 49 percent discount and immediately release $35 million.

Jan 17 – Top creditor SBI says Jet’s lenders are considering a plan to resolve its debt issues, amid further reports that Goyal is willing to invest 7 billion rupees in the airline and pledge all his shares but wants to retain a 25 percent stake.

Jan 24 – India capital markets regulator says it has no “view” on relaxing norms for a Jet bailout

Jan 25 – Etihad appoints Alvarez & Marsal to conduct due diligence on Jet, sources tell Reuters

Jan 30 – Jet denies its aircraft had been grounded by GE Capital Aviation Services

Feb 1 – Jet agrees to most conditions set by Etihad Airways for a lifeline, a report says

Feb 8 – Airline grounds four aircraft after failing to make payments to lessors

Feb 14 – Jet’s board approves a rescue deal which will make its lenders its largest shareholders and fix a near 85 billion rupee funding gap

Feb 15 – Jet is seeking an $840 million bailout from shareholders and a state-backed fund, Business Television India reports

Feb 21 – International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources tell Reuters

($1 = 71.2325 Indian rupees)

(Compiled by Arnab Paul and Chris Thomas in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)

Avianca Brasil Looking for Additional Capital

January 23, 2019 / WIL BALDWIN

SAO PAULO, Jan 22 (Reuters) – Avianca Brasil, which filed for bankruptcy protection in December, is looking for a cash injection and has hired Brazilian consulting firm Galeazzi & Associados to help in talks with investors and creditors, the airline said.

Galeazzi’s executives are already visiting the carrier’s creditors to discuss options, a source said, asking for anonymity to disclose private talks. Reuters first reported the news of the Galeazzi hire, citing sources.

Avianca shareholders are discussing a potential cash injection with different investors, including hedge fund Elliott Management Corp, two sources said. Any investment now would need to happen within the bankruptcy protection process, likely in the form of debtor-in-possession financing.

Elliott and Galeazzi did not immediately reply to requests for comment.

Any capital injection or loan would need authorization from the bankruptcy judge.

Avianca is battling two of its main aircraft lessors, Aircastle Ltd and General Electric Co’s unit GE Capital Aviation Services, who have tried so far unsuccessfully to ground or repossess 40 percent of its fleet.

Avianca also said in the statement it continues to operate normally.

The escalating legal battle has added to the uncertainty surrounding Avianca Brasil’s ability to maintain its current flight schedule.

(Reporting by Tatiana Bautzer Editing by Susan Thomas and Alistair Bell)

Avianca Brasil Lessor Set to Seize 20% of Airline’s Fleet

January 11, 2019 / WIL BALDWIN

SAO PAULO, Jan 11 (Reuters) – Lessor Aircastle is set to repossess 10 jets from Avianca Brasil, the country’s No. 4 airline, after a bankruptcy hearing on Monday, a source familiar with the matter said, potentially disrupting flights for thousands of passengers.

The 10 Airbus A320 planes represent more than 20 percent of Avianca Brasil’s current fleet, according to data provided by Brazil’s aviation regulator, raising doubts about the carrier’s ability to fly its full flight schedule if the aircraft are seized.

And it could lose more planes in the future. Lessor GE Capital Aviation Services and an affiliate are seeking to repossess 12 Airbus A320s from Avianca Brasil, according to James Luton, a GE spokesman.

When the airline filed for bankruptcy protections last month, the airline discussed the possible loss of 14 planes, which it said would affect 77,000 passengers over a three-week period.

A representative for Avianca Brasil declined to comment. The bankruptcy filing came after years of mounting losses and late aircraft payments.

Bankruptcy filings, while providing protection from creditors, do not cover leases, the source of the carrier’s entire 46-aircraft fleet.

Between the end of 2016 and September 2018, Avianca Brasil’s liabilities to aircraft lessors quintupled to 415 million reais ($112 million), according to the carrier’s financial statements.

Still, a Brazilian bankruptcy judge stayed a decision that would have allowed Aircastle to repossess the planes last month. That stay, however, expires on Monday.

Since the stay was issued, the source said, Avianca Brasil has not made any proposal to Aircastle that would have allowed the carrier to keep the planes. Avianca Brasil owes Aircastle more than $30 million, the source added.

The stakes are also high for Aircastle, as Avianca Brasil is its largest single customer, representing some 7 percent of its net book value, according to the lessor’s financial disclosures.

Avianca Brasil is separate from the better-known Avianca Holdings SA, which is based in Colombia. But they share the same owner, a family company owned in part by Bolivian-born airline entrepreneur German Efromovich.

United Continental Holdings gave the family company a $500 million loan last November.

Neither party has revealed why the loan was needed, but Efromovich has been sued for failure to repay his debts in the United States and Brazil in recent years.

($1 = 3.7138 reais)

(Reporting by Marcelo Rochabrun)

Boeing Delivers Record 806 Aircraft in 2018

January 8, 2019 / WIL BALDWIN

(Reuters) – Boeing Co (BA.N) delivered a record 806 aircraft in 2018 as it overcame supplier woes, retaining the title of the world’s biggest planemaker for the seventh straight year.

The company’s shares rose as much as 3.9 percent to $340.90 and were the biggest percentage gainer on the Dow Jones Industrial Average (.DJI).

European rival Airbus SE (AIR.PA), which will report its numbers on Wednesday and lags behind Boeing due to engine delays, said it achieved its 800-jet target pending final audit.

“Overall, Boeing is taking market share from its main competitor Airbus and is well positioned with strong commercial and military demand,” said CFRA Research analyst Jim Corridore, who upgraded the stock to “strong buy” from “buy”.

Investors and analysts closely watch the number of planes Boeing turns over to airlines and leasing firms for hints on the company’s cashflow and revenue.

The latest numbers indicate that fuselage and engine delays at suppliers in 2018 are largely behind Boeing as it gears up to meet surging demand for airplanes in 2019 amid booming air travel.

“In addition to the ongoing demand for the 737 MAX, we saw strong sales for every one of our twin-aisle airplanes,” said Ihssane Mounir, senior vice president of commercial sales and marketing.

To mitigate supply chain snarls, Boeing helped expand production capacity at suppliers who have hired workers, including retirees this year.

In October, its biggest supplier Spirit AeroSystems Holdings Inc (SPR.N) said it was back on track to meet the surging demand for its aircraft parts.

CFM International, co-owned by France’s Safran (SAF.PA) and General Electric Co (GE.N), also affirmed in the same month its commitment to deliver 1,100 to 1,200 units despite being roughly four weeks behind schedule.

ORDER BOOM

Boeing also looked set to beat Airbus for aircraft orders on a like-for-like basis in 2018 after booking 893 net orders, excluding cancellations in the year.

Meanwhile, Airbus ended November with 380 net orders, to which it has since added confirmed deals for another 220 aircraft.

According to industry sources, it won another 150 from Asian-backed leasing companies that are yet to be announced, with Boeing also getting a lift from Chinese demand.

The Airbus tally, however, included 120 of the former Bombardier CSeries, a Canadian plane programme which it bought last year.

Orders for Boeing and Airbus are seen down compared to 2017 as airlines fret over trade tensions and the slowing global economic growth. But deliveries at both rose on the back of an earlier order boom.

“69 December 737 deliveries suggest (supplier) bottlenecks easing. Solid December book-to-bill closes year at 1.1x and helps mitigate cycle concerns,” Credit Suisse analyst Robert Spingarn said in a client note.

(Reporting by Ankit Ajmera in Bengaluru and Tim Hepher in Paris; Editing by Saumyadeb Chakrabarty and Arun Koyyur)

Image from http://www.boeing.com

Apollo Eyeing Deal for GE’s Jet Leasing Unit

January 7, 2019 / WIL BALDWIN

(Reuters) – Private equity firm Apollo Global Management LLC is working on an offer to acquire General Electric Co’s aircraft leasing operations, which are worth as much as $40 billion, people familiar with the matter said on Friday.

Apollo’s bid comes as GE’s new chief executive officer, Larry Culp, is battling to restore profits and slash debt after the industrial conglomerate lost $22.8 billion in the third quarter, mostly from its ailing power unit.

GE is already pressing on with divesting several assets, including spinning off its healthcare unit and shedding its stake in oilfield services company Baker Hughes. Apollo’s offer could put pressure on GE to also sell the aircraft unit, known as GE Capital Aviation Services (GECAS).

Apollo is looking at financing its bid partly through debt and equity provided by Athene Holding Ltd, the annuity provider for which it provides asset management services, the sources said. Apollo’s private equity funds, co-investment from Apollo’s investors, and debt financing from banks will also help fund the deal, the sources added.

In addition, Apollo is open to exploring a transaction for GE’s long-term-care insurance business, whose liabilities have emerged as a significant burden, according to the sources.

GE has not yet agreed to a deal with Apollo, the sources said. The company could decide to explore a deal with other buyers or not sell GECAS at all, the sources added, asking not to be identified because the matter is confidential.

Apollo and GE declined to comment. Bloomberg News first reported on Apollo’s offer.

GECAS has a fleet of more than 1,900 planes, which it provides to airlines under long-term leases. Consolidation in the sector has intensified in the last few years, as Asian competitors chip away at the market shares of GECAS and its rival AerCap Holdings NV.

GECAS is a unit of GE Capital, which GE has been trimming since the 2008 financial crisis. In 2015, it clinched a deal to sell most of GE Capital’s real estate assets to Blackstone Group LP and Wells Fargo & Co for $23 billion.

Apollo has done several deals with GE. In October, Apollo agreed to buy a portfolio of $1 billion in energy investments from GE Capital. In 2015, Mubadala GE Capital, a joint venture between Abu Dhabi state fund Mubadala and GE Capital, agreed to sell a $3.6 billion portfolio of corporate and real estate loans in the United States and Europe to Apollo.

(Reporting by Greg Roumeliotis in New York; Editing by Leslie Adler)

Image from http://www.airbus.com

Aviation Segment To Fuel GE’s Growth

November 13, 2018 / WIL BALDWIN

The Aviation segment has been one of General Electric’s (GE) best-performing units in recent quarters. In the third quarter, the vertical’s revenue jumped 12% to $7.5 billion from $6.7 billion in the previous year’s quarter. However, the segment’s revenue fell slightly short of analysts’ estimate of $7.6 billion.

Aviation revenue accounted for 25% of GE’s total revenue in the third quarter compared to 24% in the previous year’s quarter. The segment’s orders in the third quarter totaled $9.1 billion, up 35% YoY.

Click the link below for the full story!

Aviation Segment To Fuel GE’s Growth

Image from www.ge.com

Indonesian Searchers Find Lion Air Black Box

November 1, 2018 / WIL BALDWIN

JAKARTA, Nov 1 (Reuters) – Indonesian authorities on Thursday retrieved a flight data recorder from a Lion Air jet that crashed and broke apart in shallow sea near the capital, Jakarta, this week, killing all 189 people on board.

The country’s second-deadliest air disaster since 1997 has prompted renewed concern about Indonesia’s patchy aviation safety record, and the government has said Lion Air will face tougher safety regulation.

Investigations into the world’s first crash of a Boeing Co 737 MAX, introduced into commercial service last year, will be scrutinised by the global aviation industry.

“Hopefully, this can unveil the mystery behind the plane crash,” Indonesia’s transportation safety committee chief Soerjanto Tjahjono told a news conference at Jakarta’s main port after receiving the device, known as a black box.

The data it holds should provide clues to what went wrong with the plane, which had only been in service since August.

It lost contact with ground staff just 13 minutes after taking off early on Monday from Jakarta, on its way to the tin-mining town of Pangkal Pinang.

The pilot had asked to return to base shortly after take-off, and ground control officials had approved the request.

A navy diver told broadcaster Metro TV on board a search vessel his team found the orange-coloured box intact in debris on the muddy sea floor.

Indonesia’s transportation safety committee (KNKT) will analyse its data in Jakarta, which could take up to two weeks.

Searchers have yet to find the second black box containing recordings of cockpit conversations. Strong currents have hampered search efforts, complicated by the presence of energy pipelines in the area.

The discovery of the black box may provide some relief to grieving relatives. But hopes are fading of finding a large section of fuselage intact with bodies, easily retrievable, inside.

The commander of the navy divers involved in the search was quoted by the Kompas.com news portal as saying divers had found many bodies. But only one has been identified.

“What is important for us is to get more information about the victims because having their remains back is important for us so we can bury them properly,” said Ade Inyo, whose brother in law was on the flight.

MORE INSPECTIONS, SAFETY REVIEW

The investigation will be carried out with help from Boeing, General Electric and the Federal Aviation Federation, officials have said.

It will also focus on four of Lion Air’s staff including its technical director who were suspended by Indonesia’s transportation ministry on Wednesday amid speculation the aircraft was not airworthy.

“For now, we will focus on two primary causes,” KNKT deputy chief Haryo Satmiko told Reuters, referring to equipment and the people who flew, maintained and managed the aircraft.

The transport ministry suspended for 120 days Lion Air’s maintenance and engineering director, fleet maintenance manager and the release engineer who gave the jet permission to fly on Monday, it said in a press release.

Founded in 1999, the privately owned budget carrier’s aircraft have been involved in at least 15 safety incidents and it has faced tougher international safety restrictions than other Indonesian airlines.

It will now be subjected to more intensive “on ramp” inspections compared with other airlines, authorities said.

President Joko Widodo has also ordered a review of all regulations relating to flight safety.

Indonesia is one of the world’s fastest-growing aviation markets. Its transportation safety committee investigated 137 serious aviation incidents from 2012 to 2017.

Lion Air said the aircraft that crashed had been airworthy and the pilot and co-pilot had 11,000 hours of flying time between them.

But according to the transport safety committee, the plane had technical problems on its previous flight on Sunday, from the city of Denpasar on the resort island of Bali, including an issue over “unreliable airspeed”.

Lion Air chief executive Edward Sirait has acknowledged reports of technical problems with the aircraft, but said maintenance had been carried out “according to procedure” before it was cleared to fly again.

Lion Air’s only other fatal accident was in 2004, when an MD-82 crashed upon landing at Solo City, killing 25 of the 163 people on board, according to the Flight Safety Foundation’s Aviation Safety Network.

In April, the airline announced a firm order to buy 50 Boeing 737 MAX 10 narrowbody jets with a list price of $6.24 billion. It is one of the U.S. planemaker’s largest customers globally, and was the first carrier globally to take delivery of the 737 MAX last year.

(Reporting by Jakarta bureau Writing by Fergus Jensen and Ed Davies Editing by Clarence Fernandez, Robert Birsel)

Safran’s Q3 Core Sales Rise 11.4%

October 23, 2018 / WIL BALDWIN

PARIS, Oct 23 (Reuters) – France’s Safran (SAF.PA) posted an 11.4 percent rise in underlying third-quarter sales, led by aerospace and defence, and said it was “well on track” to meet full-year targets with the help of accelerating production of a new jet engine.

Safran co-produces the LEAP engine for Airbus and Boeing jets with General Electric.

Earlier this year it absorbed struggling French seats maker Zodiac Aerospace, and Safran said on Tuesday that it continued to benefit from above-average aftermarket growth.

The company, which also makes military systems, said third-quarter revenues grew 11.4 percent after stripping out the Zodiac acquisition and currency swings to 5.348 billion euros ($6.14 billion).

($1 = 0.8709 euros) (Reporting by Tim Hepher; Editing by Sudip Kar-Gupta)

Boeing, Air Lease, EVA Air Celebrate Airline’s First 787-9 Dreamliner

October 3, 2018 / WIL BALDWIN

Image and post from www.boeing.com

Boeing, Air Lease Corp., and EVA Air today celebrated the delivery of the airline’s first 787-9 Dreamliner, via lease from ALC, at Boeing’s South Carolina Delivery Center. EVA Air plans to debut the long-range and super-efficient airplane in November on international routes.

“This milestone delivery marks the beginning of a new era for EVA Air as we continue to revolutionize Taiwan’s dynamic commercial aviation industry,” said Steve Lin, Chairman of EVA Air. “The 787 Dreamliner’s extraordinary efficiency and passenger pleasing cabin features will further elevate EVA Air’s position as a five-star global airline. We are excited to introduce the 787 into our fleet and they will play an integral role in our success going forward.”

Built with lightweight composite materials and powered by advanced GEnx engines from General Electric (GE) Aviation, the 787 Dreamliner family lowers operating costs by more than 20 percent compared to previous airplanes, and nearly 10 percent compared to today’s competing jets.

Today’s delivery marks the first of 24 Dreamliners for the Taipei-based airline. In 2015, EVA Air announced a landmark order for 18 787-10 airplanes along with plans to operate four 787-9s and two 787-10s on lease from ALC. This remains the largest commercial airplane purchase in Taiwan’s history.

“ALC is pleased to deliver this historic first Boeing 787-9 to EVA Air and further our strong relationship with a world-class airline,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “As the first airline in Taiwan to operate a Boeing 787-9 Dreamliner, EVA Air will continue to excel as a leading international airline with the most technologically advanced and fuel-efficient fleet.”

“We are extremely honored that EVA will be introducing the new 787 Dreamliner to their world-class fleet,” said Kevin McAllister, President and CEO of Boeing Commercial Airplanes. “This milestone delivery signals yet another chapter in our enduring partnership with EVA. I am confident that the market-leading capabilities of the 787 will contribute immensely to the airline’s long-term success.”

A member of Star Alliance, EVA Air serves international routes with approximately 565 weekly flights. Onboard the airline’s new 787 Dreamliner, passengers can experience EVA Air’s new Royal Laurel business class seats designed by Designworks, a BMW Group company. At 23 inches wide, the new seats feature privacy panels, full lie-flat capabilities as well as enhanced in-flight entertainment systems. EVA Air also partnered with Teague, to redesign its economy class seats, which are produced by Recaro.

To improve the operational efficiency of its 787s, EVA Air plans to use a variety of Boeing Global Services tools, including Maintenance Performance Toolbox, Airplane Health Management and the electronic flight bag product.

The airline will also use Component Services, where Boeing and its partners own, manage and maintain a global pool of high-value rotable parts, components and line-replaceable units (LRU) for convenient access.

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