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LATEST NEWS
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Monday, November 14th, 2022
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Europe’s first urban air mobility (UAM) vertiport testbed terminal, located at Pontoise-Cormeilles airfield just outside of the French capital, Paris, has been officially inaugurated.
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This new facility will permit the testing of critical technology as well as passenger processes. The testbed at Pontoise-Cormeilles, has been designed by Skyports in collaboration with Groupe ADP and is aircraft agnostic. As a result, the set-up provides the entire UAM ecosystem the opportunity to test and develop appropriate technologies. Additionally, it will facilitate collaboration between the key ecosystem partners, including technology pioneers, regulators and local partners such as the French Civil Aviation Authority (DGAC), suppliers and airlines.
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The testbed will permit trials for vehicle integration, ground movement procedures, charging procedures, flight scheduling, situational awareness, and information exchange. Beyond these, the testbed will also enable the simulation of the passenger journey through the terminal, including security and check-in processes, biometric technologies (provided by SITA), passenger dwell time, and aircraft boarding.
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Groupe ADP, Skyports and Volocopter have jointly commissioned the vertiport testbed and a model of the VoloCity, which is being developed as Volocopter’s first certified aircraft for commercial services, was featured at the launch in addition to a crewed test flight of the 2X model – the only aircraft currently authorised by DGAC for eVTOL test flights in France.
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The series of demonstrations by Skyports and Volocopter also featured displays of flight monitoring capabilities and digital operating systems, including Skyports’ vertiport operating systems and the VoloIQ. The Re.Invent Air Mobility testbed at the airfield is now the most extensive technology-enabled test site for UAM in Europe with an innovation consortium formed by Groupe ADP, Choose Paris Region, and RATP Group, and made up of 30 ecosystem partners which has now propelled France to the forefront of UAM development.
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Embraer has delivered ten commercial jets and 23 executive jets (15 light / eight mid/super-midsize jets) in the third quarter of 2022 (3Q22), bringing year-to-date deliveries to 27 commercial jets and 52 executive jets (33 light /19 mid/super-midsize jets). Although deliveries have been back ended to the fourth quarter of 2022 due to supply chain challenges, they are close to historical average for the quarter.
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The company reported 3Q22 consolidated gross margin of 19.1% compared to 19.0% reported in 3Q21. Adjusted EBIT and EBITDA were US$50 million and US$93 million, respectively, yielding adjusted EBIT margin of 5.4% and adjusted EBITDA margin of 10.0%.
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Free cash flow (FCF) in 3Q22 was negative US$109.4 million, mainly explained by working capital increase due to higher deliveries in 4Q22 which will reverse to a positive trend.
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The company finished the quarter with net debt of US$1.275 billion, or US$0.53 billion less than 3Q21 in line with the strategy to reduce interest expenses.
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A revolving credit facility of up to US$650 million with 14 financial institutions was signed to increase the company's liquidity and improve its capital structure, following Embraer liability management strategy, or reducing gross debt and interest expenses.
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Embraer reaffirmed all aspects of its 2022 financial and deliveries guidance, with an increase in its free cash flow guidance from US$50 million or better to US$150 million or better.
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Air Lease Corporation (ALC) has placed three new Boeing 787-9 aircraft on long-term lease with Air Astana, the national carrier of Kazakhstan. The aircraft are scheduled to deliver to Air Astana beginning in early 2025 through spring 2026 from ALC’s order book with Boeing.
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“The Boeing 787-9 is an important aircraft to Air Astana’s fleet modernisation as we expand our routes and focus on passenger experience,” said Peter Foster, President and Chief Executive Officer of Air Astana. “The Dreamliner offers fuel-efficiency and range flexibility that will greatly add to our current fleet operations.”
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Embraer has reported the beginning of the transition process of the company's Defense and Security leadership, stating that the president and CEO of Embraer Defense & Security, Jackson Schneider, decided to leave the company in April 2023, when his term with the company ends. For the position, the company appointed the current Chief Commercial Officer of Embraer Defense & Security, Bosco da Costa Júnior.
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Jackson Schneider joined Embraer in 2011 and has led the Defense & Security unit since the beginning of 2014, being responsible for the development and internationalisation of the KC-390 programme, in addition to consolidating the company as the main “Brazilian Defense House,” with projects in the country's three Armed Forces. Prior to that role, he served as Vice President of People, Sustainability and Communication of the company.
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Current CCO of the Defense & Security business unit, da Costa Júnior, joined Embraer in 2005. During his career at the company, he has held leadership positions in the areas of contract management, proposals, industrial cooperation/offset in Defense and various managerial roles in the procurement and supply chain management areas. Born in São José dos Campos (SP), da Costa Júnior graduated in Business Administration and has two postgraduate degrees - International Executive MBA from FIA-USP and MBA in Supply Chain Management and Logistics from FEA-USP.
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Gulf Air, the national carrier of the Kingdom of Bahrain and MTU Maintenance, the global leader in customized solutions for aero engines, have signed an exclusive contract for the maintenance, repair and overhaul of V2500-A5 engines.
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The four-year agreement covers comprehensive MRO services, LRU support, engine trend monitoring and on-site services, as well as spare engine support for Gulf Air’s V2500-powered A321ceo aircraft.
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Commenting on the agreement Gulf Air Chief Executive Officer Captain Waleed Al Alawi said: “Gulf Air has been maintaining V2500 engines of its A321ceo fleet at MTU Maintenance's facility for the past 10 years under the engine OEM contract. During these 10 years, MTU Maintenance has demonstrated they are the right partners for Gulf Air as we drive forward with our fleet renewal programme in preparation to welcome more new aircraft to replace and modernise our fleet. We trust them to take excellent technical care of our engines and are convinced they will provide us with the reliable, flexible and cost-efficient services we expect.”
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Guillermo Medina Moralejo will join Wiremind Cargo on December 1, 2022, as its Vice President Business Development, responsible for sales, commercial strategy and marketing functions.
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Medina Moralejo was educated in the United Kingdom, and has spent the past six years in Asia, predominantly in Hong Kong where he will remain based in his new function with a view to expanding Wiremind Cargo’s footprint to key Asian markets.
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He will join Wiremind Cargo from Lalamove, a crowd-sourced logistics start-up where, as Head of Corporate Solutions, he created and implemented the company’s corporate sales strategy across 11 markets in Asia and Latin America. Prior to this, he held various positions within Cathay Pacific, including Executive Assistant to the airline’s group CEO and as Manager of Cargo Customer Insights.
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AB Aviation (Moroni, Comoros) and Heston Airlines (Vilnius, Lithuania) have announced a cooperation to develop new routes from Paris, France, to Moroni, Comoros, the independent state comprising three of the Comoro Islands in the Indian Ocean, off the coast of East Africa, to create connectivity options for domestic travellers and international tourists.
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The cooperation between AB Aviation and Heston Airlines enables sustainable international growth for both companies. Travel and tourism is expected to surpass pre-pandemic levels this year and the companies are preparing for a future where Comoros is integrated into the international travel network. Comoros has white sand beaches, clear seas and volcanic landscapes – but also offers cultural riches, with a blend of Arab, African and French influences.
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Heston Airlines is set to provide state of the art EASA registered Airbus A330-200 aircraft having 266 seats where 18 are business-class with full-flat beds and 248 spacious economy-seats.
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Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, software and industrial industries, has made a significant investment in Jet Support Services, Inc. (JSSI), an independent provider of aircraft maintenance support and financial tools for the business aviation industry. Genstar is partnering with existing investors GTCR, the Book family and JSSI’s management team to support the company’s next phase of growth.
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For more than 30 years, JSSI has been delivering Hourly Cost Maintenance (HCM) programmes to the business aviation industry, partnering with aircraft owners and operators to help stabilize aircraft costs, assure high quality maintenance and provide enhanced customer service. JSSI also offers maintenance tracking software, a result of two notable acquisitions in the past 18 months, a global multi-channel parts distribution and engine leasing business (JSSI Parts & Leasing), and a subscription-based aircraft operating cost and performance guide (Conklin & de Decker), all of which provide synergistic benefits to aircraft operators.
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The company has a global footprint across 85 countries, with 450 employees, including 75 technical advisors and product line specialists supporting 5,000+ aircraft and overseeing 10,000+ annual maintenance events. JSSI facilitates and streamlines carbon offset purchasing directly through its customer platform, allowing customers to monitor and reduce their carbon footprint. JSSI Parts & Leasing supports sustainable utilisation through recycling of parts via aircraft teardowns and subsequent reuse of serviceable parts in maintenance and repair work.
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