|
|
|
|
|
|
|
|
|
|
LATEST NEWS
|
|
Tuesday, December 13th, 2022
|
|
|
|
|
Boeing Co. has signed a Total Component Support (TCS) deal with Lufthansa Technic for sustainment services to the Royal New Zealand Air Force’s (RNZAF) growing fleet of Boeing P-8A aircraft. Lufthansa Technic’ TCS services will enable the RNZAF to reduce its investment in aircraft parts as the programme for the 737 covers over 400 commercial common parts included in the configuration of the P-8A, a military derivative of the popular 737 commercial airliner.
|
The agreement will also improve aircraft readiness through the RNZAF having access to the German company's maintenance, repair and overhaul (MRO) global supply chain. Boeing and Lufthansa Technik signed a strategic Memorandum of Understanding (MOU) back in 2021 to support Germany's P-8A Poseidon fleet, which was then expanded this year to a three-party agreement that now includes ESG Elektroniksystem- und Logistik-GmbH.
|
In July 2018, the government of New Zealand announced the purchase of four P-8A Poseidon aircraft which will replace its aging fleet of P-3K2 maritime patrol aircraft. The first P-8A was delivered this month, with three remaining aircraft due to be delivered in 2023. The P-8A is essential element for global anti-submarine warfare, intelligence, surveillance and reconnaissance, and search-and-rescue operations.
|
|
|
|
|
|
|
|
The International Air Transport Association (IATA) warned that the amount of airline funds for repatriation being blocked by governments has risen by more than 25% (US$394 million) in the last six months. Total funds blocked now tally at close to US$2.0 billion. IATA calls on governments to remove all barriers to airlines repatriating their revenues from ticket sales and other activities, in line with international agreements and treaty obligations.
|
IATA is also renewing its calls on Venezuela to settle the US$3.8 billion of airline funds that have been blocked from repatriation since 2016 when the last authorization for limited repatriation of funds was allowed by the Venezuelan government.
|
“Preventing airlines from repatriating funds may appear to be an easy way to shore up depleted treasuries, but ultimately the local economy will pay a high price. No business can sustain providing service if they cannot get paid and this is no different for airlines. Air links are a vital economic catalyst. Enabling the efficient repatriation of revenues is a critical for any economy to remain globally connected to markets and supply chains,” said Willie Walsh, IATA’s Director General.
|
Airline funds are being blocked from repatriation in more than 27 countries and territories.
|
The top five markets with blocked funds (excluding Venezuela) are: Nigeria: US$551 million, Pakistan: US$225 million, Bangladesh: US$208 million, Lebanon: US$144 million and Algeria: US$140 million.
|
Total airline funds blocked from repatriation in Nigeria are US$551 million. Repatriation issues arose in March 2020 when demand for foreign currency in the country outpaced supply and the country’s banks were not able to service currency repatriations. Despite these challenges Nigerian authorities have been engaged with the airlines and are, together with the industry, working to find measures to release the funds available.
|
Airlines have also restarted efforts to recover the US$3.8 billion of unrepatriated airline revenues in Venezuela. There have been no approvals of repatriation of these airline funds since early 2016 and connectivity to Venezuela has dwindled to a handful of airlines selling tickets primarily outside the country. In fact, between 2016 and 2019 (the last normal year before COVID-19) connectivity to/from Venezuela plummeted by 62%. Venezuela is now looking to bolster tourism as part of its COVID-19 economic recovery plan and is seeking airlines to restart or expand air services to/from Venezuela. Success will be much more likely if Venezuela is able to instill confidence in the market by expeditiously settling past debts and providing concrete assurances that airlines will not face any blockages to future repatriation of funds.
|
|
|
|
|
|
|
|
Vietnam Airlines Engineering Company (VAECO), a subsidiary of Vietnam Airlines, has signed agreements with Swiss Aviation Software (Swiss-AS) and NGS Equipment and Communication Joint Stock (NGS), the Swiss-AS local partner in Vietnam, who will support Swiss-AS in the process of implementing the MRO software solution AMOS.
|
Five years ago, Swiss-AS released the AMOS MRO edition, specifically designed to fulfil the needs of MRO providers. This AMOS edition, successfully implemented several times since its release, as well as the Swiss-AS AMOSmobile packages for stores management (AMOSmobile/STORES) and line/base maintenance (AMOSmobile/EXEC), fully met the functional requirements that VAECO and Vietnam Airlines were looking for in their tender process. AMOS includes the tools required to fully manage the maintenance programme with more efficient data synchronisation, allowing the business to pursue the goal of reducing costs and maintenance time, without any concessions being made in terms of safety and quality, as well as improving the operational readiness factor of the fleet. Furthermore, AMOS provides state-of-the-art modules for planning and controlling all maintenance processes, including optimised assignment of staff resources when defining the production plan – with the objective of increasing labour productivity and efficiency. The full integration of real-time data in AMOS over the different data streams in AMOS – from material management, to engineering, to planning and production – enable informed and effective business decisions to be made and therefore minimise flight disruptions, delays, and cancellations.
|
Once the AMOS implementation has been completed, VAECO foresees that labour productivity will increase by 15-20%, that maintenance turnaround times of aircraft will shorten and that the higher manpower productivity will allow VAECO to extend its third-party maintenance market share, which is currently in great demand as a result of the airline industry having returned to profitability after the COVID-19 pandemic.
|
|
|
|
|
|
|
|
Finnair announced in its Stock Exchange Release on May 20, 2020, that the Finnish Government has approved that the State of Finland guarantees Finnair’s pension premium loan up to €540 million. With the state guarantee and the following pension premium loan, Finnair aimed to further secure its cash position and business continuity also after the exceptional situation caused by the Corona-crisis. Further, a commercial bank guaranteed up to €60 million of the loan. The arrangement was compliant with the EU state aid regulations and was approved by the European Commission on May 18, 2020.
|
Finnair drew down the €600 million pension premium loan in three tranches in 2020 and based on the agreed schedule, the loan was planned to be repaid in two €300 million tranches in December 2022 and in June 2023.
|
The EU Commission’s competition authority approved the extension of the €540 million guarantee related to the pension premium loan on June 20, 2022. To maintain its cash funds in the prevailing uncertain operating environment, the company has agreed with other parties to extend the guarantees and the loan. The loan maturity is extended until 2025 and the repayment schedule is amended so that the company will amortise the loan by €100 million every six months. However, the remaining two €100 million tranches will be paid in full on May 15, 2025. As opposed to the previous schedule, the loan will not be amortised in December 2022.
|
|
|
|
|
|
|
|
Rolls-Royce and Pratt & Whitney have signed a joint agreement with Virginia Tech for pre-competitive research focused on the impact of environmental contaminants on aeroengine operation and testing.
|
The four-year project will leverage Virginia Tech’s research and cross-discipline expertise on engine operation, instrumentation, and geosciences as well as the current research relationships that both Pratt & Whitney and Rolls-Royce have with the university.
|
This research relationship continues longstanding collaboration between Rolls-Royce and Pratt & Whitney on issues that are common across the aerospace industry. The two companies have partnered on several government-based research projects, including a study focused on volcanic ash damage to aircraft engines.
|
Work on this front has taken place in the U.S., UK and around the world, with various groups developing some of the basic understanding needed before complex modelling can be undertaken. The collaboration between Pratt & Whitney, Rolls-Royce and Virginia Tech in this research initiative is designed to add the more complicated engine testing available at Virginia Tech to further develop mitigation strategies, and to provide information back to these more basic research activities from actual engine operations.
|
Detrimental effects of particle ingestion are common concerns in the aerospace industry and can lead to accelerated engine aging and performance loss.
|
The short-term goal for this work is leveraging learning from smaller engine tests, which will be performed on a Rolls-Royce M250® engine, to influence large engine test programs by accounting for the difference in engine architecture and operating conditions. The impact of environmental contaminants costs hundreds of millions of dollars of losses annually for both commercial and military operations as air travel has expanded around the world. This is a multifaceted problem that ranges from basic scientific questions about complex chemistry of the environmental contaminants within the engine, to fleet operations, maintenance procedures, engine design and even weather prediction. It spans a wide range of scientific issues to practical engineering problems which are well suited to a multi-discipline focused project.
|
|
|
|
|
|
|
|
AMTRA Aero, and Nehalem Aviation Holdings, have formed a joint venture, Nexus Aviation Ventures, to source, convert and lease Airbus A321 freighter aircraft. “We are excited to be working together with the Nehalem team. We believe the A321 platform is the future of narrow-body freighters”, said Pablo Aguirre, Chief Commercial Officer of AMTRA.
|
The joint venture has signed a purchase agreement for its first aircraft and has a second under LOI having secured conversion slots with 321 Precision Conversions in the second half of 2023. Expected delivery of the first freighter will be first quarter 2024.
|
AMTRA Aero was formed in 2021 by the Coretz family, former owners of Omni Air International, as an aircraft and engine leasing platform. The joint venture will allow AMTRA to build a portfolio of A321 freighter aircraft that will be made available to cargo operators. AMTRA Aero forms part of a family of companies which include AMTRA Capital Partners, LLC and Zoom International Airways LLC. The company is headquartered in Tulsa, Oklahoma.
|
Nehalem was formed in 2020 and secured its first aircraft, a Boeing 757-200 which was converted by Precision Conversions to freighter configuration and leased to Amerijet Aircraft Leasing. The principles of Nehalem consist of the family offices of the McCullough and Erickson families who have worked together for over 20 years in various aviation business endeavours.
|
|
|
|
|
|
Starting December 16, SAS offers more frequent departures between Copenhagen Airport and Shanghai Pudong International Airport. After operating the second-weekly flight for the first time on December 16th, SAS will fly from January 6, from Copenhagen to Shanghai every Tuesday and Friday and from Shanghai to Copenhagen every Thursday and Sunday, throughout the winter season.
|
The flights are conveniently timed with late evening departures from Copenhagen and early morning arrivals back in Copenhagen to ensure full connectivity for passengers and air cargo with the SAS network.
|
|
SAS operates the Shanghai route with the Airbus A350. Apart from offering passengers a unique travel experience, this aircraft has a much lower fuel consumption and up to 30% lower CO2 emissions than previous comparable aircraft.
|
|
|
|
|
|
|
|
click here to download the latest PDF edition
|
|
|
|
click here to download the latest PDF edition
|
click here to subscribe to our other free publications
|
|
AIRCRAFT & ENGINE MARKETPLACE
|
click here to view in PDF aircraft and engines available for sale and lease
|
|
|
|
|
|
|
|
|
|
Interested in advertising with AviTrader?
|
|
Vice President Sales & Business Development
|
|
|
|
|
