American Airlines writes off over US$½billion trapped in Venezuela

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American Airlines has written off over US$½billion trapped in Venezuela as a result of insurmountable currency controls. They have confirmed that the airline will include a USD$592 million special charge for the last quarter 2015 “due to continued lack of repatriations and deterioration of economic conditions in Venezuela.” Concerns over the amount of money trapped […]

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Bombardier Business Aircraft executes agreements to create direct sales channels and improve margins

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Bombardier Business Aircraft continues to restructure and enhance its business model to improve long-term profitability. To that end, the business segment has completed initiatives to increase the number of direct-to-market channels, including termination of third-party sales representative and distribution agreements, as well as the restructuring of customer commercial agreements. As a result of these agreements,

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Floreat Group enters aviation finance and leasing sector

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Global Fixed Income Fund I has financed the US$26m junior tranche of a 12-year finance lease for two Boeing Aircraft operated by Norwegian Air Shuttle. The senior lender is Norddeutsche Landesbank Girozentrale (Nord/LB) with a loan volume of US$68m. Doric GmbH is responsible for the asset management of the aircraft. Floreat Group is a privately-held,

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Aircelle leads Europe's NIPSE research project on next-generation powerplant systems

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The challenges of equipment integration on future aircraft powerplants – particularly next-generation Ultra-High Bypass Ratio (UHBR) powerplants – is the focus of a three-year European Union-funded technology project now underway with 10 companies and organisations, and led by Aircelle (Safran) as industrial coordinator. The NIPSE project seeks to find better placement options for equipment, using

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Singapore Airlines extends TotalCare with Rolls-Royce

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Singapore Airlines has extended its TotalCare service agreement with Rolls-Royce for Trent 800 engines that power its Boeing 777 aircraft. TotalCare enables the business models of the aircraft owner and Rolls-Royce to be fully aligned to improve engine reliability, increase time on wing, and maximise the engine services contribution to customer business performance.

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Rolls-Royce launches new SelectCare Service

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Rolls-Royce has launched a new engine service, SelectCare, continuing its reputation for service innovation and expanding the customers’ choice of competitive, capable and flexible services across the engine lifecycle. SelectCare fits between Rolls-Royce’s fully comprehensive TotalCare service, which maximises engine time on wing in addition to giving long-term cost certainty on a dollar-per-flying-hour basis, and

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EDM ships second Cabin Emergency Evacuation Trainer to Ethiopian Airlines

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EDM, a leading global provider of training simulators to the civil aviation and defence sectors, has shipped a second Cabin Emergency Evacuation Trainer (CEET) to Ethiopian Airlines. Manufactured at EDM’s UK headquarters in Manchester, the CEET has a dual B787/B777 configuration allowing Ethiopian Airlines’ cabin crew to train on both aircraft types. Consisting of business

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AerCap executes first placement of ten 737 MAX 8s to Travel Service

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AerCap Holdings has executed the first placement of ten Boeing 737 MAX 8 aircraft from its order book. Leased to Travel Service, AerCap’s long-time customer and the Czech Republic’s biggest airline company, the aircraft are part of AerCap’s order of 100 737 MAXs placed in June 2015 with deliveries starting in 2019. AerCap is Boeing’s

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KLM Cityhopper confirms options for two E175s

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KLM Cityhopper, KLM’s subsidiary for European operations, confirmed options for two additional E175s. The original contract, covering 17 firm orders (15 E175s and two E190s) and 17 options (all for the E175 version), was announced in March 2015. Options for 15 aircraft of the same model still remain. The two new E175s were included in

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Aeromexico and WestJet sign code-share agreement

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Aeromexico, Mexico’s global airline, and WestJet, Canada’s highest-rated airline for customer service, have signed a code-sharing agreement. Aeromexico and WestJet have had an interline relationship since December 2011. The new agreement will give Aeromexico’s customers enhanced connecting service via Montreal, Toronto and Vancouver to more than 10 Canadian destinations including Calgary, Edmonton, Winnipeg, Ottawa, Halifax,

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