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Air Canada concludes $100 million revolving loan agreement with Aeroplan

Air Canada said that it has concluded a secured revolving loan agreement with Aeroplan Canada which will provide the airline with up to CAD $100 million and assist with its liquidity requirements.

Subject to the terms of the agreement, amounts are available for drawdown until June 30, 2010 and are equal to the aggregate of the previous 60 days accumulated purchases of reward seats by Aeroplan from Air Canada, up to a maximum of $100 million. Concurrently with the loan, Air Canada remitted to Aeroplan approximately CAD $40 million to reverse amounts remaining on accelerated payments previously disbursed to Air Canada under the November 2008 prepayment agreement with Aeroplan. The effect of this arrangement would have reversed by the end of the third quarter of 2009.

The loan is secured by Air Canada’s interest in Air Canada Vacations (ACV). As long as any amount is outstanding under this loan, Air Canada’s interest in ACV will also secure Air Canada’s obligations to Aeroplan under the commercial participation services agreement. ACV may continue to pay cash dividends to Air Canada and the airline is entitled to prepay any amount of the loan, at any time, without penalty.

Under the terms of the tentative pension funding agreements reached with its Canadian based unions this month, Air Canada is required to raise at least $600 million as a condition precedent for the pension funding arrangements. If such liquidity becomes available, Air Canada would terminate its loan agreement with Aeroplan and use its interest in ACV as security for this other facility.

Air Canada has made an initial draw-down under the loan of $79 million.

Delta launches Propel Flight Academy

Delta Air Lines (Delta), through its Propel Pilot Career Path Programme, is launching a pilot academy dedicated to training the airline’s next generation of aviators. The Delta Propel Flight Academy, operated in partnership with training provider Skyborne Airline Academy, will open its doors to the first class of students in June and is now accepting applications from

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Jekta and Gayo Aviation ink LOI for ten PHA-ZE 100 amphibious aircraft

Jekta, the Switzerland-based manufacturer of the electrically powered Passenger Hydro Aircraft Zero Emission 100 (PHA-ZE 100) flying boat and Gayo Aviation have signed a Letter of Intent (LOI) for the acquisition by Gayo of ten electrically powered amphibious aircraft. With main offices in Sweden and Dubai, Gayo Aviation is a global provider of private and

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Field Aerospace completes T-1A AMP aircraft installs

Field Aerospace has recently completed installs for the T-1A aircraft avionics modification programme (AMP). The goal of the AMP is to address avionics obsolescence issues in order to increase aircraft availability and decrease sustainment costs. The project was managed out of Tinker Air Force Base for the Air Education and Training Command (AETC). The work

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CFM International and ST Engineering sign CFM-branded business partnership

CFM International and ST Engineering’s Commercial Aerospace business have signed a CFM-branded service agreement (CBSA) for LEAP-1A and LEAP-1B engines. Under the terms of the CBSA, ST Engineering will provide the full scope of LEAP maintenance, repair & overhaul (MRO) services for operators worldwide. ST Engineering is the first provider in Asia to join the

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Stratos delivers one Boeing 737-800 to Transavia France

Stratos, a leading aircraft investment specialist and asset manager, has delivered one Boeing 737-800 on long-term operating lease to Transavia France. The delivery forms part of Transavia France’s fleet expansion, which will see the Air France–KLM subsidiary grow its fleet to 71 aircraft. The aircraft (MSN 37253), which forms part of a portfolio managed on

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AAR acquires Trax to accelerate digital solutions strategy

Chicago-headquartered AAR CORP. (AAR) has announced its acquisition of Trax Corp. (trax), a leading independent provider of aircraft MRO and fleet management software to accelerate its digital solutions strategy. AAR is a global aerospace and defence aftermarket solutions company with operations in over 20 countries. It supports commercial and government customers through two operating segments:

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Panasonic Avionics enhances software development capabilities in Pune, India

Panasonic Avionics, a leading supplier of in-flight entertainment and connectivity systems (IFEC), continues to enhance its global software development capabilities in Pune, India. Panasonic Avionics’ operation in Pune is the latest Panasonic investment in India. Panasonic entered the Indian market in 1972 and since then the company has grown from strength to strength and now

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WestJet Cargo receives certification from Transport Canada for 737-800 Boeing Converted Freighters

WestJet Cargo has received Transport Canada’s approval and official certification of its four 737-800 Boeing Converted Freighters (BCFs). Following certification, WestJet Cargo and the GTA Group will expeditiously implement three freighters into service, as dedicated aircraft that will fulfil the large-scale needs of businesses, freight forwarders, shippers and individual customers across North America. The fourth

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Swissport secures major contract with Sky Airline in Chile

Swissport International, a leading provider of airport ground services and cargo handling, has secured a major contract with Sky Airline, the first low-cost carrier in the Chilean market. Starting from April 2023, Swissport will provide ground services and cargo handling at all 15 airports Sky flies to in Chile. The portfolio includes serving passengers at

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Turkish Technic posts strong financial results for 2022

Turkish Technic has posted its financial results for 2022, which marked successful growth and solid strategic acceleration. The company recorded a 37% growth compared to the previous year with US$1,42 billion in revenue and US$119 million in operational profit and increased its market share to 1.9%, reaching the highest growth rate and revenue in the

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HKIA selects SITA to provide carbon management platform

Hong Kong International Airport (HKIA) has selected SITA to provide a carbon management platform to monitor data on carbon emissions across the airport environment, helping to track key performance indicators as the airport progresses towards its net-zero carbon goal. SITA’s carbon management platform, to be fully deployed by summer 2023, will collect and aggregate data

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ASI and Etihad Engineering collaborate to expand aircraft maintenance facility

ASI (Aircraft Support Industries), a leading provider of aviation infrastructure solutions, has announced its collaboration with Etihad Engineering to expand the capacity of its aircraft maintenance facility in Abu Dhabi. Etihad Engineering, one of the largest commercial aircraft MRO services providers and the expansion project in partnership with ASI, aims to cater to the increasing

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ASQS further grows presence in Canada with Central Mountain Air partnership

ASQS, a global leader in aviation safety and quality management software, has announced its collaboration with Western Canadian Central Mountain Air (CMA), further growing its presence in the Canadian aviation industry. Central Mountain Air, based in Smithers, British Columbia with further bases at Vancouver International Airport and Calgary International Airport, is a privately owned and

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