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LATEST NEWS
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Friday, September 30th, 2022
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Singapore Airport Terminal Services (SATS) has announced it has agreed to purchase Worldwide Flight Services (WFS) for US$ 1.14 billion in cash from an affiliate of U.S. private equity firm Cerberus Capital Management.
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SATS will raise US$797 million in equity to fund the purchase and the deal will transform SATS into the largest global air cargo handler with a current market value of US$3 billion. Its principal shareholder is Tamask Holdings, as Singapore state investor, which has provided an irrevocable undertaking to vote in favour of the transaction. The two combined entities will create a company with the immediate capability of covering trade routes responsible for 50% of global air cargo volume.
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Founded in 1984, WFS is the world's largest air cargo logistics provider and a major provider of ground handling and technical services. It has more than 300 customers and employs 32,300 staff, the company said. SATS said it had committed funding in place to finance the purchase of WFS through an acquisition bridge facility. The base funding plan comprises internal cash and an equity fundraising from existing shareholders and new strategic investors. The deal is expected to be completed by March 2023. (£1.00 = US$1.11 at time of publication).
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Embraer has reached a new milestone on the E-Jet programme, the delivery of the 1700th production aircraft. The Aircastle-leased E195-E2 was handed over to KLM Cityhopper at a ceremony at Embraer’s facility in São José dos Campos.
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E-Jets have enjoyed global success in the fleets of 150 airlines and leasing companies from more than 50 countries since the first aircraft entered revenue service in 2004. The E195-E2 is part of a family of advanced-generation E-Jets that offer the quietest, lowest polluting and most fuel-efficient aircraft in the under 150-seat market.
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The E195-E2 is Embraer’s largest commercial aircraft with seating for up to 146 passengers. The KLM Cityhopper configuration has 132 seats in three zones – Business Class, Economy Comfort and Economy Class. This latest delivery is the 60th E-Jet for the airline which operates a mixed fleet of 47 first- and 13 advanced generation E2s, the largest in Europe. KLM Cityhopper has 12 further E195-E2s on order, with options for ten more.
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WestJet is strengthening its commitment to the Boeing 737 MAX family with an order for 42 737-10s and options for an additional 22 jets. The 737-10 will enable the Canadian carrier to undertake an ambitious network expansion and meet its long-term sustainability goals.
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"The 737-10 will be a game changer, with one of the lowest costs per seat among mid-range aircraft. This will foster our low-cost positioning and affordability for Canadians," said Alexis von Hoensbroech, WestJet Group Chief Executive Officer. "In addition, with its lower fuel consumption and reduced emissions, the 737-10 will further improve the environmental footprint of our fleet."
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Since launching its business with three 737s in 1996, WestJet has grown its Boeing fleet to more than 100 airplanes including the 737-8 and 787 Dreamliner. Including the 737-10, the Calgary-based carrier has more than 60 firm orders for the 737 MAX family of jets.
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The International Air Transport Association (IATA) has announced that the Wings of Change Europe conference will focus on rebuilding a competitive European air transport system as the industry looks to its post-pandemic future.
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Europe is recovering strongly but challenges remain. The industry’s resilience is being tested by the US$50 billion (£45 billion) in losses the region’s airlines experienced during COVID-19 (2020-2022) and a return to pre-pandemic demand that is not expected to occur until 2024. Meanwhile, the operating environment is made more challenging with growing costs, a proliferation of regulatory initiatives and the drive towards net-zero emissions.
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“Europe needs strong air connectivity now more than ever. But the competitiveness and resilience of European aviation are under strain. Rising fuel prices and infrastructure costs are putting pressure on affordable air transport for European travellers, tourist markets and exporters. Successfully achieving our transition to net-zero CO2 by 2050 will require close cooperation and support between regulators and industry. To ensure that the European economy is well-supported by efficient regional and global connectivity, it is essential that the regulatory agenda being pursued across Europe is approached with great care and a focus on competitiveness. At Wings of Change Europe we will bring together key decision-makers to debate these vital issues,” said Rafael Schvartzman, IATA’s Regional Vice President for Europe.
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Wings of Change Europe will take place in Istanbul, Türkiye, hosted by Pegasus Airlines.
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Sabena technics, supported by its shareholders Sagard, BPI France and Towerbrook, completes the full acquisition of the Héli-Union Group and strengthens its position as a key player in the military helicopter maintenance sector.
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The acquisition of Héli-Union is fully in line with the Group's strategy to build a leading European player in the market for the supply and maintenance of helicopters. This strategy, initiated ten years ago through organic growth then accelerated in 2020 – thanks to the acquisition of Aeromecanic in Marseille-Marignane- is now taking on greater scope with the creation of a helicopter division, which will represent a third of the Group’s turnover.
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With its 350 employees, Héli-union is a French Group with a long-standing expertise originally known as a worldwide helicopter operator. It has since also become a major player in the maintenance of rotary wings, carrying out numerous operations, particularly for the French State. Thanks to the consolidation with the activities of Sabena technics, half of the French military helicopter fleet will now benefit from the services provided by the Group. A strong reference, on which Sabena technics wishes to rely on for its export development.
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AAR subsidiary Airinmar, a leading independent provider of component repair cycle management and aircraft warranty solutions, has signed a new services agreement with Philippines-based low-cost carrier Cebu Pacific.
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Airinmar will provide Cebu Pacific with a full suite of support services covering both aircraft warranty management and value engineering.
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Warranty management services will include the identification, claim and recovery of the multiple airframe, engine and component warranty entitlements provided by airframe manufacturers and their suppliers.
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Value engineering services will include cost oversight to ensure compliance with Cebu's contracted component repairs and to minimise component out-of-scope flight-hour repair charges. The services provided by Airinmar will complement Cebu's current materials management activities and will focus on maximising the recovery of Cebu's warranty entitlements and reducing the cost of component repair.
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Rex has announced that it has bold plans to grow and transform its latest acquisition into Australia’s premier Fly-In-Fly-Out (FIFO) operator, signalling a major expansion into Queensland and the Northern Territory. This follows the completion of the purchase of National Jet Express (NJE) on September 30, the regional services arm of Cobham Aviation Services Australia, focusing on FIFO activities.
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In anticipation of the surge in demand for NJE’s services, Rex is looking to immediately lease another two De Havilland Canada Dash 8-400 NextGen (NG) aircraft to add to its fleet. The company will continue to invest in new aircraft and technology to grow the business, especially in Queensland where resource companies have been facing severe issues with capacity and reliability in recent years.
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AerFin has announced that Tom Crawford has joined the company to serve in a newly established role as Chief People Officer (CPO).
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As CPO, Crawford will be responsible for developing and implementing the company’s people strategy, ensuring
that people, culture and organisational plans are aligned to the organisations core values. Together with his team, he will develop an innovative people agenda which is designed to underpin AerFin’s commercial ambitions.
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Crawford brings exceptional experience across all facets of human resource strategy and development. For the last decade, he has been consulting and supporting businesses to help them improve their commercial performance through implementing organisational change and developing effective people strategies, covering a magnitude of sectors, including: assurance, communication, aviation and energy.
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