FLY Leasing Limited, a global leader in aircraft leasing, posted that its annual management fee payable to BBAM, FLY’s manager and servicer, has been reduced from US$10.7m per annum to US$5.7m per annum, or 47%, in connection with the sale of a portfolio of aircraft announced separately today. The fee reduction will take effect as
FLY Leasing Limited, a global leader in aircraft leasing, has released that it has contracted to sell 33 aircraft from its portfolio for a total of US$985m. This represents a US$35m pre-tax gain over approximate net book values as of June 30, 2015. The aircraft will transfer to the new owner over the course of
In its latest innovation aimed at aerospace customers, Freudenberg-NOK Sealing Technologies has introduced new materials that help aircraft manufacturers save on weight and production costs while exceeding fire resistance and fireproof requirements for engine nacelles. Freudenberg-NOK is developing a material that will meet fireproof requirements in traditional fabric-reinforced constructions but which offers up to a
SkyPaxxx Interior Repairs has opened its new 53,000ft² facility. With this move, SkyPaxxx has more than doubled its footprint and capacity in Jacksonville in just a year and a half. “With this expansion, SkyPaxxx will be able to continue to increase our services and offerings while immediately adding capacity to allow even more companies to
Supporting its expanding brokerage business 28 East has reported the delivery of its first aircraft completion project, an Airbus Corporate Jet ACJ319. The green aircraft was completed at the Woensdrecht Fokker Facility in Holland and took just over a year to finish. It was delivered to its home base Munich, in April, where the operator
The International Bureau of Aviation (IBA) has announced a new investor in the business following the retirement of Laurie Hatcher, Chairman and Founder of the Company. The new IBA shareholder, Hockley Investments Limited, will be a long-term partner supporting future growth and development of the business. IBA proudly retains their full independence from all manufacturers,
At the Paris Air Show this week, IATA director general Tony Tyler indicated that Airlines were confident that a deal would be reached in 2016 on a global market-based system that will regulate emissions from aviation, saying “We are confident that, given the current pace of discussions, it will be possible for an agreement to
GE Capital Aviation Services (GECAS), the aviation leasing and financing arm of GE, announced the launch of its 737-800NG passenger-to-freighter conversion program. GECAS plans to convert up to 20 of its Boeing 737-800NG passenger aircraft to freighters. AEI Aeronautical Engineers will perform the conversions at its facilities in the U.S. and China. The first aircraft
It has been announced at the Paris Air Show that Hungary’s low-cost airline, Wizz Air, has signed a memorandum of understanding (MOU) with Airbus for the largest single order of this type – 110 A321neos. The company has also signed for an option on a further 90 A321neos as well. Currently Wizz Air has a
Lufthansa Technik Logistik Services GmbH (LTLS) has commissioned the innovative, automatic storage rack system AutoStore for small parts in Hamburg. More than three million euros have been invested at Lufthansa Technik’s home base over the last two years under the project name “ABLS@HAM” as part of the ongoing modernization program by the company in the
