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LATEST NEWS
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Tuesday, October 11th, 2022
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The Brazilian Development Bank (BNDES) has confirmed its approval of R$670 million in financing for the export of six Embraer E175 commercial jets to North America’s SkyWest Airlines (SkyWest). Delivery will take place by the end of this year.
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The financing will be through BNDES Exim Post-shipment, with disbursements made in reais in Brazil in favour of Embraer. SkyWest (the importer) will assume the commitment to pay BNDES in US dollars to generate foreign currency for Brazil. This is the second financing tranche with BNDES for the sale of Embraer aircraft exports to SkyWest Airlines using the innovative Aircraft Financing Insurance Consortium (AFIC) offering from Marsh, one of the world’s leading insurance broker. The first financing took place in December 2020 for R$ 400 million. The Aircraft Non-Payment Insurance (ANPI) policy is underwritten by four international insurance groups: AXA XL, AXIS Capital, SOMPO International and Fidelis Insurance.
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The ANPI policy provides that, in the event of default by the debtor, the insurers make all scheduled payments to the lender until all outstanding principal is repaid. The AFIC insurance offering also increases the flexibility and speed of implementation of financing between the parties for buyers of Embraer aircraft. Currently SkyWest operates 232 Embraer E175 jets while, since 1998, BNDES has provided ten different financing facilities to SkyWest covering up to 200 aircraft, comprising 18 delivered EMB120 aircraft, 175 delivered E175 aircraft and seven to-be-delivered E175 aircraft. (£1.00 = US$1.10 = R$5.72 at time of publication).
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American Airlines has released that it made a strategic equity investment in Universal Hydrogen Co., a company building a green hydrogen distribution and logistics network for aviation. The investment supports American’s science-based targets to reduce greenhouse gas (GHG) emissions by 2035, and ultimately its commitment to achieve net-zero GHG emissions by 2050. This investment makes American the first U.S. airline to make two direct investments focused on the development of both hydrogen-electric propulsion technology and the future of hydrogen distribution logistics.
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Universal Hydrogen’s fuel distribution network uses modular hydrogen capsules that are handled like cargo, eliminating the need for new fuelling infrastructure at airports and speeding up fuel loading operations. Universal Hydrogen anticipates starting hydrogen deliveries for regional aircraft in 2025, with plans to expand its services to larger, single aisle aircraft — first for auxiliary power in the late-2020s and then as a primary fuel by the mid-2030s. Because these segments represent two-thirds of aviation emissions — and with green hydrogen being a true zero-carbon fuel — these advances put aviation on a path to meet Paris Agreement emissions targets.
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“This technology has the potential to be a game-changer on the industry’s path to zero-emission flight,” said American’s Chief Financial Officer Derek Kerr. “As the world’s largest airline, American has a responsibility to exercise leadership in making aviation sustainable. Our investment in Universal Hydrogen represents a vote of confidence for green hydrogen as a key element of a sustainable future for our industry.”
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American joins Airbus Ventures, GE Aviation and Toyota Ventures, as well as several major hydrogen producers and aircraft lessors, as strategic investors in Universal Hydrogen.
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Toki Air, the new Japanese airline, has taken delivery of an ATR 72-600 aircraft to start its operations. The carrier will lease the new aircraft from lessor Nordic Aviation Capital (NAC). Covered by a ten-year ATR global maintenance agreement, the aircraft will support Toki Air’s mission of revitalising Niigata city and the surrounding regions of Japan. The carrier plans to start operations in 2023.
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The fourth airline to operate ATR aircraft in Japan, Toki Air has chosen the name of an ancestral bird also called ‘Japanese crested ibis’, mainly living on Sado island. This is a symbol of the preservation of nature in Japan. It represents the airline’s commitment to connecting areas that co-exist with nature, operating the lowest CO2 emissions and most fuel-efficient aircraft. The new ATR 72-600 sports a livery representing the spread wings of Toki.
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Air Atlanta Icelandic has been successfully running its global charter and ACMI operation for 36 years. For 25 of those years Air Atlanta has been a TRAX Maintenance & Engineering software customer. The company is now ready to transition to the TRAX eMRO product to allow its employees to be connected no matter where they are with access to real-time information. Air Atlanta is turning to eMRO as a proven web-based device-agnostic solution with a modern user interface and a zero-install client. It matches how aviation works today.
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Air Atlanta has a fleet of 15 Boeing 747-400 aircraft. Its core business has always been ACMI (aircraft, crew, maintenance and insurance) leasing of its aircraft to other airlines. It provides its customers with a dedicated aircraft, which is fully crewed, maintained insured, and managed under Air Atlanta’s Air Operator Certificates (AOCs) for an agreed period of time. IT recently begun setting up CMI hybrid service that manages the day-to-day operations for a customer’s aircraft. Air Atlanta also has management services that can provide maintenance and planning training, quality, safety and security, as well as the daily operation of multiple types of customer’s aircraft.
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Together with the TRAX eMRO cloud-based aviation maintenance solution, Air Atlanta can continue to provide the efficient and high-level of service for its customers that it has been known for these many decades.
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At the MRO Asia event in Singapore last month, AerFin and Safran signed a reciprocal agreement that will see AerFin provide flexible landing gear leasing support for narrow-body aircraft.
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“We have a long-standing history of working with Safran and are delighted to extend and formalise our partnership with this agreement”, said Nick Filce, Director – Trading at AerFin. He added, “We are pleased to offer Safran exclusive access to our extensive pool of narrow-body assets”.
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Dominic Lai, Director – Sales & Marketing at Safran Landing Systems, said: “The collaborative agreement included reciprocal support which will guarantee us access to high-quality assets while enhancing AerFin’s services. We are looking forward to working and developing our long-term partnership with Nick and the team”.
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Alliance Air, India’s only public airline, has taken delivery of two brand-new ATR42-600s from regional aircraft lessor TrueNoord. The aircraft join Alliance Air’s fleet on a long-term operating lease and will serve domestic routes within India, specifically focusing on challenging airfields in the Himalayas.
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The aircraft were funded by TrueNoord’s new warehouse facility with Citibank, Société Générale Corporate & Investment Banking, Royal Bank of Canada, and NORD/LB.
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JMC Group, a provider of aviation manpower and engineering services, has announced that Ian Thompson is joining its business development team. Thompson will also support JMC sister company ELMS Aviation, the cloud-based risk management competence and compliance specialist, in its drive to attract new customers.
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With 20 years’ experience supporting engineering companies and airlines, he co-founded an aviation recruitment business assisting clients in the EMEA region helping secure civil and defence personnel to support fixed- and rotary-wing aircraft.
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A former commodities trader looking after various blue chip energy clients before moving into aviation, Thompson established Excel Technical Consulting after working for a Cambridge-based aviation recruitment specialist.
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Fly Gangwon and AFI KLM E&M have announced the conclusion of a full engine support agreement for the CFM56-7b units powering the South Korean airline’s threer Boeing 737-800 aircraft (as well as any others added to the fleet while the contract remains active).
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The MRO solutions to be provided cover a wide range of needs, from carrying out shop visits to the delivery of on-wing/on-site operations, as well as availability-oriented services such as the provision of temporary replacement engines. This full support model ensures Fly Gangwon will benefit from an exhaustive service package, founded upon the airline-MRO Group’s vast expertise and experience, in order to guarantee maximum availability for its aircraft engines.
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