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LATEST NEWS
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Thursday, November 24th, 2022
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Aergo Capital (Aergo) has announced the company’s acquisition of Dublin, Ireland-based Seraph Aviation Management Limited (Seraph Aviation) for an undisclosed sum.
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The deal will see Aergo take over the management and administration of 88 aviation assets spread across 38 unique lessees with a combined asset value of US$2.5 billion. This will see the total number of Aergo-owned and managed aircraft to 304 units, including those under LOI, with an asset value of US$6.8 billion. This latest deal will place Aergo among the top-twenty aircraft lessors on a global basis.
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Founded in 1999, Aergo is a rapidly expanding international aircraft leasing platform with locations in Dublin, New York, Hong Kong and Nairobi. Since 2014, Aergo Capital has partnered with AB CarVal Investors and is now owned by funds managed by AB CarVal.
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Aergo Capital’s current fleet comprises a combination of wide-body, narrow-body and turboprop aircraft with an average age of nine years. As of September 30, 2022, Aergo Capital’s owned and managed portfolio was comprised of 216 assets, valued at approximately US$4.3 billion and diversified across a portfolio of 44 lessees and 34 countries. AB CarVal is an established global alternative investment manager focused on distressed and credit-intensive assets and market inefficiencies. (£1.00 = US$1.19 at time of publication).
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LATAM Airlines Group and Delta Air Lines (Delta) have made the first operational announcements after receiving the approval of their Joint Venture agreement in September. Among the initiatives, LATAM announced the launch of new service between São Paulo and Los Angeles beginning July 1, 2023, adding a popular destination not currently served from Los Angeles. Additionally, this new route offers customers access to the largest U.S.-South America corporate and overall market from LAX, where Delta is the largest global carrier.
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The flight will have an initial frequency of three times per week on Boeing 777-300ER aircraft, with capacity for 410 passengers (38 in the Premium Business cabin, 50 in Economy+ and 322 in Economy).
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ATR and Silk Avia, Uzbekistan’s new regional airline, have signed Heads of Agreement (HOA) for the acquisition of five new ATR 72-600, three directly from ATR and two from a lessor. In addition to this agreement, the airline will soon start its operations with three used ATR 72-600.
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Silk Avia’s owner, Uzbekistan Airports, has invested heavily in establishing a wide network of upgraded and new airports to better serve the domestic and regional market. The primary purpose of Silk Avia is to stimulate domestic tourism and business development. The airline will also increase regional connectivity to the capital of Tashkent and provide direct access between the Uzbek cities. These aircraft will open up new point-to-point opportunities, serving around 40 routes in the country. They will connect 11 domestic airports and seven additional airports in the future, supporting the growth of the country and its thriving tourism industry.
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Embraer and the TUI Group have signed a contract for the Pool Programme to support TUI’s fleet of Embraer E195-E2s. The TUI Group will take delivery of three E195-E2 from AerCap on long-term lease. The aircraft, from AerCap’s existing fleet, will be delivered in a comfortable 136-seat single-class configuration in the first half of 2023.
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The contract will provide the airline access to component exchanges and repair services for more than 340 reparable parts, plus interchangeable parts for TUI’s Embraer aircraft. Currently, Embraer’s Pool Programme supports more than 50 airlines worldwide.
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Embraer’s Pool Programme is designed to allow airlines to minimise their upfront investment in high-value repairable inventories and resources, while taking advantage of Embraer’s technical expertise and vast repair service provider network for components. The results are significant savings on repair and inventory carrying costs, reduction in required warehousing space, and the virtual elimination of the need for resources required for repair management, while ultimately providing guaranteed performance levels.
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West Star Aviation has welcomed Derek Richardson as the new Bombardier Project Manager at its East Alton, IL (ALN) facility.
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With over 30 years of aviation services, Derek brings an elevated level of experience to West Star. He previously worked for Standard Aero and Jet Aviation while starting his career as Line/Service Aircraft mechanic at TWA.
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“West Star is pleased to add another very experienced member to the team, while also benefiting our Bombardier customers,” said Scott Koehler, Senior Manager of Project Management (ALN).
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Adria Tehnika, a member of the Avia Prime Group, based at Ljubljana Airport and one of Europe’s leading MRO companies, has been successfully awarded the EN 9110 certificate in recognition of its implemented quality management system adapted for the aviation maintenance organisation.
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This certification demonstrates the international recognition of the high-safety and quality services provided by Adria Tehnika in the maintenance, repair and overhaul of aircraft and components. It illustrates strong focus to meet and exceed customer expectations and the strictest aviation regulations and manufacturers’ requirements to which the Avia Prime Group is committed.
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Atlas Air has taken delivery of a Boeing 747-8 Freighter. This aircraft is the third of four new Boeing 747-8 Freighters Atlas Air ordered in January 2021 and is the first of two 747-8Fs Atlas Air will operate for its customer Kuehne+Nagel under a long-term agreement.
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“This 747-8F delivery underscores the importance of our long-term strategic partnership with Kuehne+Nagel and our commitment to support their continued growth and expansion,” said John Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. “We are pleased to provide their first dedicated aircraft which will proudly fly in a custom Kuehne+Nagel livery. The two 747-8Fs we will operate for Kuehne+Nagel will add more capacity and versatility for their network.”
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