Only two months after taking over the helm as CEO of Air France-KLM, Ben Smith and the management of Air France have announced that they have reached a deal with most unions that is hoped will see an end to costly strikes which, this year, cost the carrier US$385 million. While five unions, representing 76.4%
Monarch Aircraft Engineering (MAEL), a leading aircraft MRO provider, has agreed the terms of the company’s new ownership structure, with Greybull Capital LLP becoming the majority shareholder. As the restructuring progresses, MAEL’s lenders, PNC, will continue to provide facilities and support, and many of the operator’s key customers are also looking to support the business.
NetJets, a Berkshire Hathaway company, has struck a deal with Textron to acquire up to 175 super-midsize Cessna Longitude aircraft and 150 Cessna Citation Hemisphere aircraft and which Textron anticipates will be firmed up over the next few weeks. NetJets has operated Cessna aircraft since 1984 and the current deal would see its fleet of
On the eve of the NBAA’s Business Aviation Convention & Exhibition (NBAA-BACE) in Orlando Florida, Aerion Supersonic (Aerion) and General Electric (GE) have announced that the US$120 million supersonic AS2 business jet will operate without the need for regulatory changes to noise levels. The Aerion jet will be powered by GE’s Affinity turbofan engine. The
Embraer has introduced the new Praetor 500 midsize and Praetor 600 super-midsize business jets during a company event at Orlando Executive Airport, where the 2018 National Business Aviation Association’s Business Aviation Convention and Exhibition (NBAA-BACE) will be held from October 16-18. The new Praetor 500 and Praetor 600 will be on static display during NBAA-BACE.
Air France’s new Chief Executive, Ben Smith, has wasted no time in tackling the wage negotiation problem that has beleaguered the French carrier and seen the downfall of its previous Chief Executive, Jean-Marc Janaillac, who resigned back in May. Having previously worked with Air Canada, Smith has proposed a two percent pay raise backdated to
President Donald Trump has signed legislation passed by Congress which will extend FAA policy for a further five years under the FAA Reauthorization Bill. There are a number of provisions in the Reauthorization Bill which have drawn attention, in particular the “Seat Egress in Air Travel (SEAT) Act,” which will force the FAA to set
Safran Helicopter Engines, a subsidiary of the Safran Group, has been chosen to supply new-generation Ardiden 3 engine turbines to drive the Zunum ZA10’s electric generator. Zunum Aero (Zunum) is a pioneering force in electric aviation. The new hybrid-to-electric Zunum ZA10 should be operational early in the 2020s and is a 12-seat 700-mile commercial aircraft
Delta Air Lines (Delta) stock fell 3.4% after the American carrier announced that Hurricane Florence caused a US$30 million loss in business and that it was now paying more for fuel. Delta was forced to cancel 275 flights in September, mainly in the Carolinas, and that to date it had still not completed dealing with
GA Telesis has announced that its current shareholder Tokyo Century Corporation (Tokyo Century) along with All Nippon Airways Trading Company (ANATC), have collectively entered into a definitive agreement to acquire all shares held by Global Principal Finance Company LLC (GPFC). Tokyo Century’s ownership after the closing of the transaction will increase to 49.2% and ANATC
