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Friday, August 23rd, 2019
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Bye Aerospace reports that Quantum Air has signed a purchase deposit agreement for 22 of its all-electric four-seat eFlyer 4s and 2 two-seat eFlyer 2 airplanes. The company also signed a comprehensive agreement that includes two future advanced aircraft under development from Bye Aerospace. Additionally, Bye will join Quantum’s board of advisers.
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“The future has arrived,” mentioned Scott Akina, Quantum’s Vice President and Chief Pilot. “By electrifying aviation, Quantum will ignite urban and regional mobility. Electric aircraft are safer, quieter, and more efficient than legacy aircraft, and they are more fun, more comfortable, and do not pollute.”
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Bye Aerospace is developing the FAA FAR 23-certified family of eFlyer general aviation aircraft, starting with the eFlyer 2, for the flight training mission. All of Bye Aerospace’s current and future families of aircraft, including the eFlyer 2 and the eFlyer 4, feature exemplary engineering, research, and electric aircraft solutions producing no CO2, and are designed to answer compelling market needs. These include significantly lower operating costs, zero emissions, and decreased noise.
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Fly Leasing Limited (FLY), a global leader in aircraft leasing, has released its financial results for the second quarter of 2019.
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FLY is reporting net income of US$54.1 million for the second quarter of 2019, this compares to net income of $24.3 million for the same period in 2018. Adjusted Net Income was US$61.9 million for the second quarter of 2019, compared to US$25.2 million for the same period in the previous year. For the six months ended June 30, 2019, Adjusted Net Income was US$109.0, compared to US$37.6 million for the same period last year.
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At June 30, 2019, FLY had 98 aircraft and seven CFM engines on lease to 45 airlines in 25 countries. Of the 98 aircraft, 12 were classified as held for sale. The average age of the portfolio, weighted by net book value of each aircraft and engine, was 7.4 years. The average remaining lease term was 5.3 years, also weighted by net book value. FLY's portfolio, excluding aircraft held for sale, was generating annualized rental revenue of approximately US$354.2 million.
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Millennium International Avionics has appointed Doug Miller as a new Senior Software Engineer. In this position Miller will be responsible for product innovation within R&D, as well as expanding the engineering team and focusing on market growth initiatives.
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Miller comes to Millennium International from IntelliFarms where he was a Senior Engineer. He brings over 15 years of experience in the technology industry, launching several successful products.
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Swiss-AS has reported that USA Jet has recently gone live with AMOS and now uses the MRO software to support all maintenance processes.
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AMOS’s complete functional depth and scope was one of the prominent reasons USA Jet chose to partner with AMOS. This functional supremacy of AMOS stems from an ongoing investment from Swiss-AS to further develop the software and their close cooperation with the AMOS community.
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By exploiting the potential of a fully integrated and functionally rich system, USA Jet expects to increase its efficiency and the quality of its in-house planning processes and at the same time, will decrease maintenance costs.The project was supported by a strong IT department performing the data transfer in-house. As in every software implementation project, the data transfer is one of the key success factors for a timely launch.
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Aeroflot has released operating results for Aeroflot Group and Aeroflot's first 7 months of 2019.
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Between January and August 2019, Aeroflot Group carried 34.6 million passengers, up 12.2% year-on-year. Aeroflot airline also carried 21.5 million passengers, with a year-on-year increase of 8.3%.
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Aeroflot Group and Company's traffic increased by 12.8% and 7.5% year-on-year, respectively. Capacity rose by 13.9% year-on-year for the Group and by 8.8% year-on-year for the Company.
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The passenger load factor decreased by 0.8 points year-on-year to 81.1% for Aeroflot Group and decreased by 0.9 points to 78.8% for Aeroflot airline.
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L.J. Aviation, an aircraft flight management and charter aircraft company, has expanded its fleet with its latest addition of two Bombardier Challenger 350 aircraft. The high-performing Challenger 350 business jets join the company’s existing fleet of 40 aircraft.
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Along with the two new Challenger 350 business jets, L.J. Aviation currently manages and operates five Challenger 300 series business jets, one Challenger 604 aircraft and a Global 5000 aircraft.
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In the last decade, the Challenger 300 aircraft series has accounted for more deliveries than any other business jet platform in the industry. The Challenger 350 aircraft builds upon this remarkable legacy of leadership and continues to take centre stage in the super mid-size segment.
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The Qantas Group has achieved an underlying profit before tax of AU$1.30 billion and a statutory profit before tax of AU$1.27 billion for the financial year 2019.uWhile the Underlying result was 17% lower compared with the Group’s record profit in FY18, it was impacted by an AU$614 million increase in fuel costs from higher oil prices and a further AU$154 million of the foreign exchange impacts on non-fuel net expenditure.
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The result was also impacted by a AU$92 million non-cash expense on provisions for items including employee leave entitlements – part of an accounting requirement that means this charge increases when interest rates fall.
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All key parts of the Group’s portfolio remain strongly profitable, generating significant cashflow that allows for ongoing investment as well as shareholder returns.
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Ryanair reported two new Southend routes to Bucharest and Vilnius, commencing in November 2019. The new route to Bucharest will operate with a five times weekly service, while the new Vilnius route will operate three times weekly.
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Ryanair continues its Central and Eastern European expansion with the launch of these new routes to Romania and Lithuania, following its recent announcement of its entry into the Georgian market.
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The Portuguese Government and Embraer signed today a contract for the acquisition of five multi-mission airlifters Embraer KC-390. Additionally, services and support and a flight simulator are included in the contract as part of the process to modernize Portuguese Air Force capabilities to support national Armed Forces operations and increase readiness in missions of public interest. Deliveries are scheduled to start in 2023.
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The KC-390 is designed to set new standards for efficiency and productivity in its category while presenting the lowest life-cycle cost of the market. The aircraft fully meets the requirements of the Portuguese Air Force, being able to perform different types of military and civilian missions including, humanitarian support, medical evacuation, search and rescue, firefighting, superior cargo and troops transport, aerial delivery and aerial refueling capabilities.
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Portugal is the largest international partner of the KC-390 program and its participation in the development and production of the aircraft is recognized as having had a positive economic impact in the generation of jobs, new investments, increased exports and technological advances.
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The KC-390 has received its Civil Certification from the Brazilian National Aviation Agency (ANAC) in 2018 and is now in full serial production. Entry into service is expected to occur in the 3rd quarter of 2019 with the Brazilian Air Force (FAB), with follow-on deliveries to occur throughout the year.
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Nordic Aviation Capital (NAC) has delivered one new ATR 42-600, MSN 1219 and one new ATR 72-600, MSN 1548, to Silver Airways on lease.
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Silver Airways operates the most routes within Florida and between Florida and the Bahamas from its hubs in Fort Lauderdale, Orlando and Tampa, and also flies between Boston and Bar Harbor, Maine. Silver is a codeshare partner with United, JetBlue and Avianca, and has interline agreements with American, Delta, Air Canada, Alaska Airlines, All Nippon Airways, Bahamasair, Hahn Air, Azul and Emirates.
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UPCOMING EVENTS
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