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LATEST NEWS
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Monday, November 7th, 2022
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China Eastern Airlines (China Eastern) and China Southern Airlines (China Southern), two of China’s largest carriers, have signed maintenance support contracts at the China International Import Expo 2022.
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The agreement will cover engine and component MRO including spares support as well as diagnostics and engine monitoring for over 100 Pratt & Whitney V2500 engines that power a fleet of 50 Airbus A320ceo-family aircraft. The maintenance work will be performed at the Shanghai Engine Center (SEC), a joint venture between China Eastern and Pratt & Whitney that is well equipped to service a range of P&W engines, including the V2500 and more recently, the PW1100G geared turbofan family.
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Separate to this agreement, China Southern has extended its ten-year component support agreement with Collins Aerospace. That agreement adds inventory management support for Collins’ integrated drive generator and other aircraft generators, including the A320neo, Boeing 787, as well as COMAC’s ARJ21 regional jet. Established in 2007 and operational in 2009, SEC underlines the long-standing relationship between China Eastern and Pratt & Whitney. SEC has become an important maintenance, repair and overhaul (MRO) facility in the region with growing capabilities including Line Maintenance Service for Pratt & Whitney GTF engines recently certified by the Civil Aviation Administration of China.
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FAI Aviation Group, one of the leading global providers of mission-critical aviation services anticipates record sales across the business for 2022, with consolidated group revenues of more than €120 million. Revenues for charter and MRO have each increased by more than 30% compared with the same time last year. This latest news comes as FAI’s operations face the challenge of high fuel prices.
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During the pandemic, the decrease in charter business was offset by an equivalent increase in its air ambulance operations. Since the end of the pandemic, the group has experienced a steady increase in air ambulance work while charter outperformed, resulting in hitherto unexpected expansion in the sector. The group expects to see a more moderate growth forecast at 8-10% per annum over the next five years.
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In 2022, FAI Technik, the group’s dedicated and expanding maintenance division, which specialises in Bombardier business jets, completed five 120/240-month inspections on the Bombardier Global 700; eight 96/192 months inspections of Challenger 600 series aircraft and two 12-year inspections of Learjet 60’s. With labour production close to 100,000 man-hours, 2022 will be the busiest year for FAI Technik since it was established more than 30 years ago.
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Across its aircraft sales business, four sales transactions were closed in the first nine months of this year with two deals pending which are expected to close in the fourth quarter.
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Nordic Aviation Capital (NAC) has confirmed that it has executed a purchase-lease-back agreement for two A321neos and two ATR72-600s with IndiGo. IndiGo is India’s largest passenger airline serving 100 destinations, 74 domestic and 26 International destinations.
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Air New Zealand has announced Mission Next Generation Aircraft – an accelerator programme to progress two ambitious goals: firstly, to fly its first commercial demonstrator flight from 2026 and secondly to begin replacing its Q300 domestic fleet with a more sustainable aircraft – likely green hydrogen or battery hybrid systems – from 2030.
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These goals follow the airline's Product Requirements Document (PRD) released in December 2021, which saw more than 30 aircraft developers respond with ideas and insights to guide the technology development. Air New Zealand is in close negotiations and expects to sign letters of intent by the end of the year with the partners it will work with.
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Air New Zealand Chief Executive Officer Greg Foran said that Air New Zealand aims to lead the world in introducing a more sustainable fleet.
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"We have bold sustainability goals. Conventional business processes are not going to address the technology or infrastructure required to meet them. We want to lead the roll out of zero-emission aircraft and will work alongside aircraft developers, innovators and infrastructure providers to give them the confidence they're developing a product that's a viable option for us.
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"The next three years will be focused on supporting the building, testing and certifying of aircraft and associated infrastructure. By 2026, we're aiming to have our first zero-emissions aircraft – either cargo or passenger – take flight in New Zealand.
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"The learnings we will take from flying an aircraft with next generation propulsion technology from 2026 will pave the way for our long-term green hydrogen and hybrid partners to deliver an aircraft that can replace our Q300 domestic fleet. We're breaking new ground here – it's not just the aircraft that needs to be developed, but also the infrastructure and regulation required to fly commercially."
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"We know these goals are ambitious, but ambition is exactly what is required to make this new technology a reality."
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Gulfstream Aerospace Corp. today announced it has delivered a Gulfstream G600 to private jet charter company Thrive Aviation. The addition of the next-generation Gulfstream aircraft marks Thrive’s expansion into the long-range, on-demand private charter market.
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This G600, designed and built in Gulfstream’s advanced manufacturing facility at its worldwide headquarters in Savannah, was outfitted at Gulfstream’s Dallas completions centre. Additionally, Gulfstream Customer Support will service Thrive’s G600 at the all-new Mesa Service Centre in Arizona, convenient to Thrive’s Henderson, Nevada, base.
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The G600 can travel 6,600 nautical miles/12,223 kilometres at Mach 0.85 or 5,600 nm/10,371 km at Mach 0.90, all while demonstrating impressive fuel-efficiency. The aircraft's award-winning interior features whisper-quiet noise levels, a refreshingly low cabin altitude, 100% fresh air purified by a plasma ionisation clean air system and abundant natural light from 14 Gulfstream panoramic oval windows.
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Willis Lease Finance Corporation has reported third-quarter total revenues of US$76.9 million and pre-tax earnings of US$8.4 million. For the three months ended September 30, 2022, aggregate lease rent and maintenance reserve revenues were US$60.0 million and spare parts and equipment sales were US$7.0 million.
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The company reported increased total revenues in the third quarter when compared to the prior year period, primarily due to an increase in lease rent revenue.
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Maintenance reserve revenue was US$20.4 million in the third quarter of 2022, a decrease of 13.6% compared to US$23.7 million in the same quarter of 2021. This decrease was due primarily to a reduction of US$14.1 million in long-term maintenance revenue relative to the comparable period in 2021, which was offset by a quarter-over-quarter increase of US$11.0 million in short-term maintenance reserve revenue, which is directly influenced by on lease engine flight hours and cycles.
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Spare parts and equipment sales increased to US$7.0 million in the third quarter of 2022, compared to US$5.1 million in the third quarter of 2021. The increase in spare parts sales was driven by improved industry wide demand for surplus material compared to the prior year period.
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Gain on sale of leased equipment was US$0.9 million in the third quarter of 2022 reflecting the sale of two engines. Gain on sale of leased equipment was US$2.4 million in the third quarter of 2021, reflecting the sale of six engines, one airframe and other parts and equipment.
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Rex has reported that its regional pilots have endorsed a new industrial agreement with the airline, the third key workforce group to have done so in the last two months.
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A staggering 86% of the pilots, who operate Rex’s fleet of 61 Saab 340 turboprop aircraft to 58 regional destinations Australia-wide, voted in favour of the new four-year agreement. The regional pilots (Saab) agreement will now go to the Fair Work Commission, which is expected to formally ratify it in the next few weeks.
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Paula Tran, Rex’s HR Manager said: “The vote follows over four years of protracted and arduous negotiations during which the pandemic has wreaked huge economic misery on both the company and the pilot group. At the end, a fair and reasonable outcome was reached that enabled the company to rebuild itself and provide a good future for all its staff.”
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This latest agreement follows agreements Rex has successfully negotiated with both its engineers and domestic flight attendants groups, with the endorsement rates similarly at very high levels of 92% and 75% respectively.
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Sabre Corporation has announced the implementation of a distribution deal with THAI Smile, to support the hybrid carrier’s growth strategy.
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Joining Sabre’s global marketplace will enable THAI Smile to enhance its geographic reach and target new leisure and corporate traveller segments, while providing travel agents with increased options to create optimal experiences for their clients.
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A subsidiary of Thailand’s flag-carrier Thai Airways International, THAI Smile flies to a host of domestic and international destinations, having first taken to the skies just over a decade ago and the carrier is also incremental in extending Thai Airways' route network with connecting flights for leisure and corporate travellers.
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