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
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,
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,
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
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
A report by the Transportation Department’s Office of the Director General has revealed that the FAA is failing to ensure that airline pilots maintain a sufficient level of flying skills enabling them to take control of an aircraft from an automated system in an unexpected event. The report also concluded that the FAA is unable
Airbus has exceeded its targets for 2015, achieving a new record of 635 aircraft deliveries for 85 customers of which 10 are new. These deliveries comprise: 491 A320 Family aircraft; 103 A330s; 27 A380s; and 14 A350 XWBs. This production achievement means that Airbus’ aircraft deliveries in 2015 were up for the 13th year in
Following the crash of a West Atlantic Bombardier CRJ200 in Sweden late at night on January 7th , Swedish accident investigators have confirmed that though extensively damaged, both the flight data recorder (FDR) and the cockpit voice recorder (CVR) together with it memory functions, have now all been recovered from the crash site. Flight PT294
Premier Aviation Overhaul Centre (Premier) and Discovery Air Technical Services (DATS), a wholly owned subsidiary of Discovery Air, released that Premier has now completed the acquisition of substantially all of the assets of DATS on January 8th, 2016. The parties previously announced Premier’s offer to purchase DATS on June 22nd, 2015. Premier Aviation is a
A year after its official inauguration, Messier-Bugatti-Dowty’s new plant in Sendayan, Malaysia delivered its first heat sink to AirAsia, for use on the Airbus A320. The heat sink is a stack of carbon disks comprising the airplane’s brake. Messier-Bugatti-Dowty chose Malaysia to set up its new carbon disk production and refurbishment plant in this region,
