Aircraft Financing – Civilav Med http://civilavmed.com/ Sun, 16 Jan 2022 03:14:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://civilavmed.com/wp-content/uploads/2021/04/default-150x150.png Aircraft Financing – Civilav Med http://civilavmed.com/ 32 32 As Boeing Production Stalls, Airbus Remains Leading Jet Maker | Business https://civilavmed.com/as-boeing-production-stalls-airbus-remains-leading-jet-maker-business/ Sun, 16 Jan 2022 01:00:00 +0000 https://civilavmed.com/as-boeing-production-stalls-airbus-remains-leading-jet-maker-business/

DOMINIC GATESThe Seattle Times (TNS)

While Boeing has halted 787 deliveries and 737 MAX deliveries have grown only slowly, Airbus has easily overtaken its US rival in 2021, making the European jet maker the world’s leading commercial aircraft company. world for the third consecutive year.

Boeing more than doubled its production performance in 2020 when the high-volume MAX narrowbody jet was grounded. With the MAX back in the air, Boeing delivered 340 jets last year, down from just 157 in 2020.

But Airbus delivered 611 aircraft last year. And for the first time in a decade, its advantage included larger, more expensive jets – Airbus delivered 78 wide-body jets to Boeing’s 77.

Last year, Boeing delivered less than a third of the number of jumbo jets it delivered just two years ago. With long-haul international air travel still at a very low level due to the coronavirus pandemic, few airlines are eager to take on these big planes.

Beyond the lack of demand that has plagued both automakers, Boeing is suffering from self-inflicted wounds.

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It’s still struggling to convince the Federal Aviation Administration that it has a handle on the 787 manufacturing issues that produced minor but unacceptable deviations at structural joints and halted all but a few 787 deliveries in 2021.

The FAA will not give approval to resume deliveries until Boeing can ensure that every plane leaving its factory will meet specifications. A Wall Street analyst predicted that 787 deliveries are unlikely to get that approval before the third quarter of this year. Another cautiously projects a recovery only next year.

Meanwhile, deliveries of the larger 777 jumbo jet are averaging just two a month as Boeing moves to the newest version, the 777X.

The delays have pushed the certification of the 777X back to late 2023 at the earliest. The increased demand for the 777F freighter during the global supply chain crisis is the only thing keeping that assembly line in Everett.

And yet, 2021 has been a year where the aviation world has at least begun to show signs of recovery, however uneven and stuttering.

Domestic flights produced US-packed aircraft. And bilateral agreements have begun to temporarily open limited international routes that had been effectively closed by travel restrictions, including some transatlantic routes.

Airbus chief executive Guillaume Faury said last year’s partial recovery, after the sharp decline when the pandemic halted air travel in early 2020, gives “confidence in the sustainable growth of air travel post-COVID.”

“Although uncertainties remain, we are on track to ramp up production through 2022,” Faury said in a statement.

In 2021 sales, the two rivals could claim victory

For Airbus and Boeing, the main sign of recovery is new jet orders. On this point, it was unclear which manufacturer came out on top in 2021. It depends on the numbers you choose to count.

Boeing claimed 535 net orders for the year, ahead of Airbus’ 507.

However, this tally from Boeing included 56 orders that were not new. These were orders pulled from the official backlog in 2020 when the downturn left airlines strapped for funding.

According to the usual accounting rules, these orders were then too uncertain to be considered firm. When funding was secured in 2021, these orders were reinstated.

Airbus could argue that it had more net new orders last year, 507 compared to Boeing’s 479.

Boeing argues that when these uncertain orders were removed, they were counted as losses and should therefore now be counted as gains in the recovery.

Airbus does not subtract equally dubious orders from the net order count it makes public.

Another twist: Airbus won a few big, big orders late last year that weren’t finalized in December. Shifting from Boeing to Airbus, Australia’s Qantas has pledged to buy 20 A321XLRs and 20 A220s while Holland’s KLM has pledged to buy 100 A320neos, both to replace aging 737 fleets.

These will be added to Airbus’ order book early in the new year.

For Boeing, 2021 has produced positive sales growth after two years of negative orders.

In 2020, Boeing had a huge negative order tally of -1,026 aircraft, including both questionable orders taken off the books and orders permanently canceled.

Many of them were MAXs as airlines pulled back following the plane’s prolonged grounding after two fatal crashes. They also included 777Xs, as airlines saw the crater of international travel.

A positive tally in 2021 of 479 or 535 orders is a massive turnaround.

The huge demand for air freight has provided a big boost. Boeing has sold 42 of its big 777Fs and 38 of its midsize 767Fs along with the last four big 747Fs that will be built before that assembly line closes later this year.

Otherwise, the pandemic has sharply depressed orders for larger planes from both manufacturers. The surge in Boeing 777X orders was primarily the restoration of nearly 50 orders that had been pulled from the backlog in 2020, as even the large legacy carriers that had launched the plane grappled with the slump in international travel.

With domestic flights doing better, the MAX’s return to service produced repeat orders from Alaska, the Southwest and the United States as well as new airline customers. The 50 MAX order in December from ultra-low-cost carrier Allegiant, formerly an all-Airbus airline, was a big win, a counter-defection to those of Qantas and KLM.

Let’s call it roughly even for 2021 orders.

Amid a pandemic-induced downturn worse than any in aviation history, both manufacturers remain well behind in sales about where they were a few years ago. In 2014, each manufacturer won more than 1,400 orders. As recently as 2018, Boeing won just under 900 orders.

Still, with around 1,000 net new orders between them last year, they can at least glimpse what could be a recovery to come.

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Global Commercial Aircraft Leasing Market Growth Opportunities Report 2021 – Space for Private Lenders to Bridge the Funding Gap in Aircraft Financing – ResearchAndMarkets.com https://civilavmed.com/global-commercial-aircraft-leasing-market-growth-opportunities-report-2021-space-for-private-lenders-to-bridge-the-funding-gap-in-aircraft-financing-researchandmarkets-com/ Fri, 14 Jan 2022 11:04:00 +0000 https://civilavmed.com/global-commercial-aircraft-leasing-market-growth-opportunities-report-2021-space-for-private-lenders-to-bridge-the-funding-gap-in-aircraft-financing-researchandmarkets-com/

DUBLIN–(BUSINESS WIRE)–The “Global Commercial Aircraft Leasing Growth Opportunities” report has been added to from ResearchAndMarkets.com offer.

North America and Europe are the top performing regions in the aircraft leasing market, having the best legal environment and regulations for market players.

The overall impact of the COVID-19 pandemic has been small in these regions, as there have been minimal changes in rates of aircraft repossession and rent collection. Europe is a key pioneer in aircraft leasing with several leading lessors based in Ireland, which has an extensive support infrastructure as well as a strong talent pool.

Lessors are struggling to maintain liquidity in a weak economic scenario in aviation. Airline-owned leasing companies are selling off their leasing branches to consolidate and streamline their core airline operations. The critical situation has led to certain M&A scenarios in the aircraft leasing industry.

Lessors and airlines depend on various institutions such as banks, capital markets, debt and asset-backed securities (ABS). In the pre-pandemic scenario, banks were the main financial providers to the aviation industry and provided credit with less control. However, the situation has changed after the pandemic, banks are now taking a much more conservative approach.

The COVID-19 pandemic has brought banks to a very cautious state regarding the aviation industry. This shifted the focus from banks to largely state-owned carriers with sufficient support and access to funds.

Highly rated leasing companies, with a diversified portfolio and financing options and effective risk and asset management will be in a better position to take advantage of the post-pandemic aviation market. In 2020, capital markets increased their contribution to the aviation industry.

By mid-2021, there were nearly 90 new airlines in various stages of investment and negotiations to begin operations. These new start-ups focus on low-cost business models that will drive industry recovery and are a key area of ​​interest for backers. Lower lease rates, potential reduction in debt and other fixed costs for new carriers, a significant increase in the number of parked aircraft and early retirements leading to greater aircraft availability are key metrics behind these investments.

There is potential for consolidation in the aircraft lessor market (even before the pandemic). Several new entrants have appeared in the aircraft leasing market from Asia over the past decade. The difficulty of risk management, a fragmented air market and a huge difference in performance between the most powerful carriers and the others are some of the main factors that will drive M&A activity in this sector.

AerCap, the world’s largest aircraft lessor, has acquired some businesses in recent years, growing into a significant portfolio of aircraft, engines and helicopters. The company now collectively has more than 300 global customers and is also the largest customer of Airbus and Boeing.

The most notable acquisition in the aircraft leasing industry is the acquisition of General Electric Capital Aviation Services (GECAS) by AerCap in 2021 for nearly $30 billion. The aircraft lessor market is still fragmented and the major market leaders contribute less than half of the aircraft market, which is significantly less compared to other industries.

After the acquisition of GECAS, AerCap will have 2,098 aircraft in its portfolio. AerCap’s share of the rental fleet will constitute approximately 36% of the total fleet owned by all lessors worldwide. While AerCap has consolidated its market leadership position, significant competition is expected among other major lessors.

Main topics covered:

1. Strategic imperatives

  • Why is it increasingly difficult to grow taller?

  • The strategic imperative

  • The Impact of Top 3 Strategic Imperatives on the Global Commercial Aircraft Leasing Market

  • Growth opportunities fuel the growth pipeline engine

2. Growth Opportunities Analysis – Aircraft Leasing

  • Aircraft leasing value chain

  • Sale-Leaseback Model

  • Types of aircraft rental

  • Growth engines for commercial aircraft leasing globally

  • Global Commercial Aircraft Leasing Growth Constraints

  • Breakdown of financing sources in the commercial aircraft leasing market

  • Number of lessors in the global commercial aircraft leasing market

  • Aircraft Return Challenges

  • Number of aircraft leases ending between 2018 and 2022 – By aircraft type

  • Late Aircraft Redeliveries – Reasons and Significance

  • Top Lessors Operating Aircraft in 2020 – By Fleet Size

  • Top Lessors Operating Aircraft in 2020 – By Fleet Value

  • Amount of finance needed in the global aircraft finance industry from 2016 to 2023

  • Share of leased aircraft in the aviation industry worldwide

  • Discussion by region

3. Growth Opportunity Universe – Aircraft Leasing

  • Growth Opportunity 1: Demand for narrow-body aircraft to meet airline needs on short-haul flights

  • Growth Opportunity 2: Space for Private Lenders to Bridge the Funding Gap in Aircraft Financing

  • Growth Opportunity 3: Freighter Leasing to Fill Air Cargo Funding Gap

Companies cited

  • AerCap

  • Airbus

  • Boeing

  • General Electric Capital Aviation Services

For more information about this report visit https://www.researchandmarkets.com/r/sgkyf7

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Aviation Crew Management Systems Market To Reach USD 3.15 https://civilavmed.com/aviation-crew-management-systems-market-to-reach-usd-3-15/ Wed, 12 Jan 2022 14:55:05 +0000 https://civilavmed.com/aviation-crew-management-systems-market-to-reach-usd-3-15/

Pune, India, January 12, 2022 (GLOBE NEWSWIRE) – The world aviation crew management systems market The market size was $ 1.73 billion in 2020. The market is expected to grow from $ 1.79 billion in 2021 to $ 3.15 billion in 2028, with a CAGR of 8.41% during the period 2021- 2028.

This information is presented by Fortune Business Insights ™ in his report, entitled, “Aviation Crew Management Systems Market, 2021-2028.”

According to our experts, the growth of the market explains the growing demand for the crew management system, which has led the major players to place more emphasis on the funding of R&D activities to develop management systems. refined crew. For example, in December 2020, Boeing declared a 10-year contract with Frontier Airlines, a North American carrier, to run a new round of crew, flight scheduling, operating equipment, among other things, to to increase the skills of airlines.

Impact of COVID-19

Postponing the flight amid pandemic to hamper market growth

The pandemic circumstance resulted in strict government guidelines on air travel, trade and business courses. The disruption in the aviation industry due to the outbreak of the COVID-19 virus has significantly influenced the aircrew management system globally. In addition, the decrease in shuttle air traffic amid the coronavirus explosion lowered the demand for comprehensive aircraft crew management systems.

Get a sample PDF brochure of this research report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/commercial-aviation-crew-management-systems-market-103523

List of players covered by this market report:

  • Saber GLBL Inc. (United States)
  • Hexaware Technologies Limited (India)
  • IBS PVT software services. LTD. (India)
  • Hitit (Turkey)
  • Jepessen (United States)
  • Lufthansa Systems GmbH & Co. KG (Germany)
  • SA Blue One Management NV (Belgium)
  • PDC A / S (UK)
  • CAE inc. (Canada)
  • Intelisys Aviation Systems Inc. (Canada)
  • AIMS, Inc. (US)
  • LAMINAAR Aviation Infotech PTE. LTD. (Singapore)
  • NAV BLUE (Canada)
  • Advanced Optimization System, Inc. (US)
  • Maureva LTD. (Africa)

Cover of the report

The report presents a systematic study of market segments and in-depth analysis of the market overview. The report offers a thoughtful assessment of current market trends and future opportunities. Moreover, it presents a comprehensive analysis of regional information and how it contributes to the growth of the market. The impacts of COVID-19 have been discussed in the report to help investors and business owners better understand the possible threats present in the market. Further, the report examines the major players and their prominent strategies to remain in the dominant position.

Segmentation

By solution

  • Equipment
  • Software
  • Enabled – Cloud
  • Server-based
  • Services

By application

  • Planning
  • Coaching
  • Followed
  • Crew operation
  • Others

By geography

  • North America
  • Europe
  • Asia
  • Middle East
  • Rest of the world

Browse the detailed summary of the research report with the table of contents:

https://www.fortunebusinessinsights.com/commercial-aviation-crew-management-systems-market-103523

Conductors and constraints

Growing need to improve flight safety to drive market growth

This market is fueled by the demand for flight protection by air commuters. The upsurge in air traffic calls for increased safety. In addition, the presentation of digital solutions, advanced electronics, cloud-based services and progressive triangulation equipment has ensured a major part of the market growth.

In addition, the major players in the market are obsessed with developing R&D activities for technologies such as digital surveillance data. Furthermore, graphic recording equipment aimed at reducing the risk of human blunder is driving the growth of the Aviation Crew Management Systems market.

Regional perspectives

North America held the maximum market share for aircrew management systems and is expected to dominate the market. The existence of a huge aircraft task force and the world’s best airline operator increases public spending in the aviation sector, which in turn stimulates the market in this region.

Europe is expected to see reasonable market growth. The growth of the region is due to an increase in the number of air travelers, the acquisition of new planes and the acceptance by the government of new aviation guidelines.

Asia-Pacific is estimated to show notable growth during the forecast period. The growth is due to the growing economy and the substantial demand for air transport sources from countries such as India, China and South Korea.

Competitive landscape

Key players ready to implement advanced aeronautical technologies

The major market players believe in developing effective tactics to survive in the market and conquer the global industry. Key companies have focused on implementing cutting-edge technologies, such as cloud-based software, digital crew management service, and data-driven crew management solutions to enrich their market station for the aviation crew management system.

Do your research before purchasing this research report:

https://www.fortunebusinessinsights.com/enquiry/queries/commercial-aviation-crew-management-systems-market-103523

Detailed table of contents:

  • introduction
    • Scope of research
    • Market segmentation
    • Research methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • Key ideas
    • Key Industry Developments – Mergers, Acquisitions and Partnerships
    • Latest technological advances
    • Porters Five Forces Analysis
    • Supply chain analysis
  • Qualitative insights
    • Impact of Covid-19 on the Aviation Crew Management Systems Market
    • Measures taken by industry / government / business to overcome the impact
    • Potential opportunities due to the COVID-19 epidemic

COT continues…!

Talk to our expert:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/commercial-aviation-crew-management-systems-market-103523

Key industry development

  • January 2020: Aeromexico, which is a Mexican global airline, has entered into an agreement with Jeppesen for its Jeppesen Crew Tracking (JCT) for crew management system. This factor should help the airline to refine the authority and collectability of flight procedures.

Take a look at the related research analyzes:

Airport Management Systems Market Industry Size, Share & Analysis, By Component (Software, Services), By Airport Size (Class A, Class B, Class C, Class D), By Application (Security, Content Management, Logistics, Integration, collaboration, door management, performance management, business applications, others) and regional forecast, 2021-2028

Airport security market Analysis of size, share and industry, by type of security (access control, cybersecurity, perimeter security, filtering, surveillance and others), by system (metal detectors, fiber-optic perimeter intrusion, backscatter x-ray systems, carry-on baggage filtering systems, and more), by airport model (airport 2.0, airport 3.0 and airport 4.0), by airport class (class A, class B and class C) and regional forecasts, 2020-2027

About Us:

Fortune Business Insights ™ offers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions to our clients, helping them meet the specific challenges of their businesses. Our aim is to provide our clients with comprehensive market information, giving them a granular overview of the market in which they operate.

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]]> Europe fears economic blow if Russia is heavily sanctioned https://civilavmed.com/europe-fears-economic-blow-if-russia-is-heavily-sanctioned/ Mon, 10 Jan 2022 15:52:11 +0000 https://civilavmed.com/europe-fears-economic-blow-if-russia-is-heavily-sanctioned/

Saint Basil’s Cathedral in Red Square is seen in Moscow on December 8, 2021. Concerns from some major European countries over the economic fallout increase the risk of a split with the United States over how hard to strike Russia with new sanctions if it invades Ukraine. (Andrey Rudakov / Bloomberg)

The concerns of some major European countries about the economic fallout increase the risk of a split with the United States over how hard to hit Russia with new sanctions if it invades Ukraine, according to people familiar with the matter.

Western allies are united in their desire to prevent a war as they hold high-stakes talks this week aimed at defusing tensions with Russia, warning it faces massive sanctions for any incursion. Actions that have been discussed include export controls, restricting Russia’s access to technology, and even removing it from the global financial payments system.

But while the European Union’s major Western European members in principle remain committed to providing a meaningful response, some have raised concerns with the United States about the potential for damage to their own economies, the people said. . The group is still working on economic and legal assessments of potential sanctions, they said.

European countries are also worried that Russia will retaliate, or even cut off crucial gas supplies to a continent already struggling with record energy prices. The bulk of any EU-wide response would also have to be unanimously approved by the 27 member states, a group with divergent views on Russia in general.

The United States has consulted with European countries, including what is known as Group Quint within the North Atlantic Treaty Organization, which involves France, Germany, the United Kingdom and the ‘Italy. He also had talks with Eastern European states.

The EU is Russia’s largest trading partner, accounting for around 37% of the country’s total trade with the world at the start of 2020, according to the European Commission. Russia was also responsible for around 25% of the bloc’s oil imports.

Translating well-coordinated words into a joint agreement on some of the specific measures under consideration could prove tricky, the people said. The differences underscore the challenge the United States and its allies face as it tries to pressure President Vladimir Putin to reverse the build-up of his troops near the Ukrainian border.

The countries discussed options such as removing Russia from Swift, the international payment system, limiting the ability of Russian banks to convert currency, and imposing export controls on advanced technologies. used in aviation, semiconductors and other components, as well as computers and other consumer goods in more extreme scenarios.

Borders could affect everything from avionics on airplanes and machine tools to smartphones, game consoles, tablets and televisions, another person familiar with the talks said. As part of some actions, Russia could face export controls as strict as those of Cuba, Iran, North Korea and Syria, which have been largely cut off from trade and commerce. global funding, depending on the person.

NATO Secretary General Jens Stoltenberg told reporters in Brussels on Monday that allies were ready to listen to Russia’s concerns during the talks. “At the same time, we must be ready that Russia chooses to use armed force again, chooses confrontation instead of cooperation,” he said.

A former official with ties to the current US administration said it was concerning how much Germany, which just completed the Nord Stream 2 pipeline from Russia, would be on board. Angela Merkel’s recent departure as German Chancellor after 16 years also left a void in terms of a European leader who can both lead the EU towards a deal and engage directly with Putin, the person said. The Nord Stream 2 pipeline has not started pumping gas and is still awaiting regulatory approvals from Berlin and Brussels.

Russian and US officials held talks in Geneva on Monday, with a Russia-NATO council meeting also scheduled for this week, as well as talks in Vienna as part of the Organization for Security and Cooperation in Europe. Putin has said he does not currently plan to invade Ukraine, but also demands that NATO provide him with security guarantees.

U.S. officials are placing their hopes on common ground on issues such as arms control and greater communication between their armies, according to people familiar with the plans, given the NATO guarantees that Putin seeks. are a non-starter. They are ready to explore reciprocal restrictions on strategic bombers and military ground exercises, a senior administration official said.

Still, the United States will not make any firm commitments during the talks and plans to have talks with its allies before any agreement is reached, the official added. He will not negotiate reduced troop deployments to Eastern Europe, they said, denying an NBC News report.

Deputy Foreign Minister Sergei Ryabkov dined with Deputy Secretary of State Wendy Sherman on Sunday in Geneva and told reporters initial talks were serious but issues for countries were complex. “It can’t be easy. But in principle it was pragmatic and I don’t think we will waste our time tomorrow, ”Ryabkov said.

US Secretary of State Antony Blinken told ABC News on Sunday he did not expect a breakthrough this week. National Security Council spokeswoman Saloni Sharma said there was a broad consensus between Washington and its allies in Europe “on the need for a rapid, high-impact response” which “would impose significant costs on the nation. economy and the Russian financial system “if Putin invaded Ukraine.

Intelligence assessments and satellite images show that there are now more than 100,000 Russian troops close to Ukraine. Russia has also developed capabilities to deploy more units in a short period of time, from one to two weeks, according to a military assessment seen by Bloomberg. Russia has shown no sign of de-escalation, officials said, and is stepping up efforts to target Ukraine with disinformation.

One of the people said a separate military assessment pointed to the possibility of Russia moving to the Donbass region in eastern Ukraine before the northern hemisphere spring, rather than a large-scale invasion from several locations.

Ukraine and Russia have been at odds since Putin responded to the 2014 Ukrainian revolution that overthrew the pro-Moscow president by seizing Crimea. Russia has also supported separatists in eastern Ukraine by sending personnel and weapons, helping to fuel a conflict that has left more than 14,000 dead.

Bloomberg’s Ilya Arkhipov, Bryce Baschuk, and John Follain contributed to this report.

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A century-old hypothesis about neurons and brain activity refuted https://civilavmed.com/a-century-old-hypothesis-about-neurons-and-brain-activity-refuted/ Thu, 06 Jan 2022 19:12:38 +0000 https://civilavmed.com/a-century-old-hypothesis-about-neurons-and-brain-activity-refuted/

According to the neural computation scheme, each neuron functions as an excitable element. Incoming electrical signals from connected neurons are accumulated and the neuron generates a short electrical pulse, a peak, when its threshold is crossed.

For over a hundred years, it has been speculated that every neuron is characterized by a unique short rest time of about two to three milliseconds after the peak, during which the neuron cannot regenerate a consecutive peak. This period of rest is followed by a longer period of neural stuttering responses until full responsiveness is achieved.

In an article published in the journal Physical examination E, a group of researchers led by Professor Kanter of Bar-Ilan University in Israel defies conventional wisdom by highlighting three new features they have discovered experimentally on neuronal refractory (resting) periods.

First, the length of the sleep time can exceed 20 milliseconds, almost 10 times longer than previously assumed. These long refractory periods are further increased depending on previous neuronal activity.

Second, the rest period is sensitive to the origin of the input signal. Stimulation of the neuron in different directions (eg, “left” and “right”) results in different refractory periods. When the neuron is stimulated from the left, for example, the duration of the refractory period is much longer than the stimulation from the “right”.

Third, the neuron is a very precise element with a sharp transition from the refractory period to full reactivity, with no intermediate stuttering phase where the same stimulation of the neuron only results in an evoked peak with a certain probability.

“We came to this conclusion using a new experimental setup, but in principle these results, along with other anisotropic properties of neurons, could have been discovered using technology that has been around since the 1980s.” , Kanter said. “The century-old belief that has been entrenched in the scientific world has caused this decades-long delay.”

These new findings call for a reexamination of neuronal functionality beyond the traditional framework and, in particular, an examination of the origin of degenerative diseases. Neurons unable to differentiate between “left” and “right,” similar to distortions throughout the human body, are characterized by spurious activities. “Our results could be a starting point to discover the origin of these diseases. This work also opens new horizons for advanced deep learning algorithms and artificial intelligence-based applications mimicking neuronal anisotropic properties, instead of the isotropic nodes used in current machine learning applications. »Kanter concludes.

– This press release was originally posted on the Bar-Ilan University website


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Aircraft rental company NAC takes over a large number of Gecas’ big hitters https://civilavmed.com/aircraft-rental-company-nac-takes-over-a-large-number-of-gecas-big-hitters/ Wed, 05 Jan 2022 02:30:00 +0000 https://civilavmed.com/aircraft-rental-company-nac-takes-over-a-large-number-of-gecas-big-hitters/

Limerick-based aircraft rental company Nordic Aviation Capital (NAC) has appointed a number of former senior Gecas executives to leadership positions as it leads a U.S. bankruptcy process that will see lenders owed $ 6 billion (5 billion euros) to take control of the company.

ordic Aviation Capital is the largest regional aircraft lessor in the world, with a fleet of over 500 jets and turboprop engines.

But it has been hit hard by the pandemic, forcing it to first rely on shareholders in 2020 to back up its balance sheet with additional capital.

Last year, former Gecas chief executive Norman Liu was parachuted by lenders as chairman of the NAC.

He was CEO of Gecas from 2009 to 2016, and its chairman in 2016. He had been an advisor to NAC for more than two years.

New appointments at NAC include Mike Jones, who has been named executive vice president of global marketing. He was previously Executive Vice President of Emerging Markets at Gecas.

Gecas was acquired last year by Dublin-based rental company AerCap, creating by far the world’s largest aircraft rental company.

David Farrell, formerly of Gecas and predecessor of GPA, also joins NAC. He has worked at BOC Aviation since 2006, where he was Risk Director. At the CNA, he will occupy the same role.

Colin Joyce joins NAC from JLPC Ireland, a Japanese rental services company. He was director of investments there. He previously worked for Gecas for 15 years.

At NAC, he will lead marketing operations including transaction pricing, structured finance and aircraft trading.

Ross McKeand will be the CNA’s Senior Vice President for Specialty Markets and Fleet Planning. He previously worked at Gecas, Airbus and Bombardier. Prior to joining NAC, he was Managing Director of ICBC Leasing’s Market Planning Department.

Nordic Aviation Capital confirmed last month that it had entered Chapter 11 bankruptcy protection proceedings in the United States as part of a finalized deal with a majority of lenders.

the Independent Irish exclusively reported in March last year that NAC was considering a Chapter 11 process in the United States as it sought to restructure its debts.

NAC said in December that it had reached a Restructuring Support Agreement (RSA) with its shareholders and lenders who own more than 73% of the lessor’s $ 6.3 billion in debt.

NAC said RSA “envisions a consensual and comprehensive restructuring” of NAC’s obligations, including converting a substantial amount of the group’s debt into equity, with an injection of $ 537 million in additional capital via a new equity offering of $ 337 million and a new revolving credit facility of $ 200 million.

NAC has also secured an additional $ 170 million financing facility for debtors in possession of its existing creditors to help fund operations during the Chapter 11 process.

NAC recorded a loss of $ 2.3 billion in the 12 months leading up to the end of June of last year.

This included the depreciation of aircraft and other intangible assets. It recorded rental income of $ 642 million in its most recent fiscal year, down 15% year-over-year.


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F-35 cheaper than the Gripen? https://civilavmed.com/f-35-cheaper-than-the-gripen/ Sun, 02 Jan 2022 22:09:23 +0000 https://civilavmed.com/f-35-cheaper-than-the-gripen/

The Royal Thai Air Force is considering the acquisition of new combat aircraft, and favors the Lockheed Martin F-35. Among the arguments, besides its advanced technology, it is argued that it has a cheaper acquisition price than the Saab Gripen.

According to the Bangkok Post, the Commander-in-Chief of the Royal Thai Air Force ACM Napadej Dhupatemiya spoke of the need for a new fleet of fighter jets, as the F-5 and F-16 have been in service for more than three decades, and as the aircraft ages, maintenance costs and flight safety risks are likely to increase.

F-35 Lightning II planes, made by US defense giant Lockheed Martin, have become the better option now that costs have come down, as they have. fell to $ 82 million (2.7 billion baht) each, up from $ 142 million for the model when it was first released, ACM Napadej said.

– Advertising –

He added that the new Swedish-made Saab Gripen is priced at $ 85 million each, making the Lockheed Martin product more practical and within the reach of the Air Force. He even said that according to negotiations, the unit prices of the The F-35s can be downsized to just over $ 70 million each.

Recent F-35 Price Comparison

The price of $ 82 million per F-35A unit is close to what Lockheed Martin predicted as the Lot 12 aircraft. The same was comparable to the $ 77.9 million for the Lot 14 aircraft, which is still far from optimists $ 70 million mentioned by Commander Napadej Dhupatemiya.

But beyond the projections and wishful thinking, we can get a good idea of ​​the real price of the F-35A from the Swiss and Finnish contracts.

Switzerland will pay 4.029 billion dollars for its 36 F-35A Block 4, an individual cost of almost $ 112 million for each aircraft.

F-35 United Arab Emirates

Finland, on the other hand, will pay a purchase price of $ 5,349 million for 64 aircraft (also F-35A Block 4s), or just over 83 million USD per unit.

The price difference between what Switzerland and Finland pay for their F-35s may be due to the number of planes purchased and the financing conditions. In both contracts, the published cost refers to the cost of purchasing the aircraft., separate from the price of the weapons package or the logistics and support package.

It seems unlikely that Thailand will get better purchasing terms than Switzerland or Finland, for so few units. Additionally, the United States has yet to sell a single F-35 to a country that is not a staunch ally (Japan, South Korea, Australia, or Israel) or outside of Europe.

Why compare with Gripen?

The Saab Gripen E / F is a modern and efficient light fighter, generally considered one of the most economical exponents within Generation 4.5 fighter jets. Unfortunately, there isn’t up-to-date, publicly available information regarding the purchase price of a Gripen E, but $ 85 million is a figure repeated on various websites, and it seems reasonable.

Gripen

What we know a little more is the cost per hour of flight, which is approximately $ 8,000. The USAF sets a current cost per flight hour for its F-35A fleet at $ 33,300, or slightly less. Therefore, compared to future batches of F-35, the Gripen would have a slightly higher purchase price, but significantly lower flight hour costs.

However, Swiss and Finnish authorities argued that the F-35 was the best cost / benefit investment, if the economy of its entire life cycle was taken into account.

Gripen E

In fact, the Finnish government report on the HX competition, in which Girpen E took part and Lightning II won, states that no offer was significantly cheaper than others in terms of operating and maintenance costs.

Not only the F-35 but also the Loyal Wingman

Commander-in-Chief Napadej said the Air Force is also interested in the latest modern air warfare technologies, especially those involving the Loyal Wingman, an unmanned aerial combat vehicle.

Developed by the Royal Australian Air Force and Boeing, the unmanned aircraft flies as a team with other manned aircraft to provide support and can be equipped with different weapons and sensors.

Loyal winger

“We don’t need a full fleet of F-35 planes. We can only use eight to twelve and use drones to fly alongside manned planes. ” “It will help reduce costs. It’s relatively new, but these technologies are likely to develop quickly, ”commented ACM Napadej.

As part of the scheme, the new fighters will be deployed from 1 Wing based in Nakhon Ratchasima, from which F-16A / B aircraft currently operate.


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Flurry of late orders puts Airbus neck and neck with Boeing for 2021 https://civilavmed.com/flurry-of-late-orders-puts-airbus-neck-and-neck-with-boeing-for-2021/ Sat, 01 Jan 2022 07:14:42 +0000 https://civilavmed.com/flurry-of-late-orders-puts-airbus-neck-and-neck-with-boeing-for-2021/

A windfall in late-year orders for Airbus SE wiped out much of the lead Boeing Co. had built up in 2021.
Image credit: AFP

London: A windfall of year-end orders for Airbus SE wiped out most of Boeing Co.’s lead in 2021, and even put the European aircraft maker in a position to claim bragging rights for the year based on net commitments.

Boeing racked up an orders advantage in early 2021, fueled by pent-up demand for its 737 Max, as the single-aisle workhorse emerged from a two-year standstill. Until October, its lead stood at 428 aircraft, based on figures reported by the two aircraft manufacturers.

But Airbus cashed in the last two months of the year, snagging major wins at the Dubai Airshow in November and snatching narrow-body accounts at Qantas Airways Ltd and Air France-KLM in December.

As of December 31, the backlog had narrowed to 58 aircraft, based on a Bloomberg calculation of announced orders.

On a net basis, Airbus could be in a position to claim victory.

As of November, Boeing had reported 457 net orders for 2021, with Airbus at 368. But the European automaker’s December transport, including 40 firm orders from leasing company Aviation Capital Group, pushed its annual total to around 548 before compensating for any cancellations that have not been disclosed. That compares to 476 for Boeing, which signed a freight contract with UPS in December.

The final tally will not be known until both companies report end-of-year orders and deliveries in early January.

It’s entirely possible that Airbus will disclose a slew of cancellations and fail to catch Chicago-based Boeing, even on a net basis. As Covid-19 continues to disrupt airline finances, both manufacturers have suffered recoveries that have slashed hundreds of orders for their books.

The contracts won will nevertheless reassure the leaders of Airbus, based in Toulouse, France, that the aircraft manufacturer has strengthened its case with suppliers for a planned increase in production.

In November, Airbus led with 518 aircraft deliveries towards an annual target of 600 for the year. Boeing had delivered 302 jets, as a resumption of 737 Max deliveries was offset by production issues on its larger 787 Dreamliners.


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Indonesian government investigates Garuda Indonesia for alleged corruption involving aircraft lease and finance contracts https://civilavmed.com/indonesian-government-investigates-garuda-indonesia-for-alleged-corruption-involving-aircraft-lease-and-finance-contracts/ Thu, 30 Dec 2021 16:17:19 +0000 https://civilavmed.com/indonesian-government-investigates-garuda-indonesia-for-alleged-corruption-involving-aircraft-lease-and-finance-contracts/

A senior Indonesian government official charged with investigating corruption and other crimes confirmed that authorities are currently investigating allegations of corruption at Garuda Indonesia involving certain aircraft finance and lease contracts.

Indonesian Deputy Attorney General for Special Crimes Ali Mukartono told Indonesian media Republika.co.id that a team of investigators from the Attorney General’s office is investigating uncovered information regarding allegations of corruption in certain financing and aircraft leasing contracts with the national carrier.

Republic, which is published in print and online newspapers, is one of Indonesia’s leading news organizations.

“Yes, it’s an investigation. It’s related to leasing (and financing), aircraft leasing, ”he said. Republika.co.id when asked today.

He refuses to say more – arguing that the investigation is still in its infancy – but adds that the investigations fall under section 3 of Indonesia’s corporate corruption law. Reports online show that a criminal act, under section 3, is when a recipient knows or should have known that the gift or promise he received was made with corrupt intent.

Indonesia’s Deputy Minister for State-Owned Enterprises Kartika Wirkoatmodjo recently revealed that Garuda Indonesia is technically bankrupt because it has billions of US dollars in debt.

The national carrier is now negotiating with its creditors, including its 32 aircraft lessors, to restructure its debt and avoid liquidation.

Wirjoatmodjo has publicly stated that Garuda’s main problem is that his rental costs are more than reasonable and that he has too many types of planes in his fleet.

Indonesian politicians and the media have questioned why Garuda often pays higher rental rates than other airlines.

Garuda Indonesia has already been the subject of a corruption investigation. The Indonesian Corruption Eradication Commission (KPK) successfully prosecuted Emirsyah Satar, who was the CEO of Garuda Indonesia from 2005 to late 2014. Early last year, Satar was sentenced to eight years in prison. for corruption and money laundering in connection with the purchase of Airbus and Rolls-Royce aircraft. engines.

The background photo, from Kompas.com, shows Indonesia’s Deputy Attorney General for Special Crimes Ali Mukartono doing a door-to-door interview with reporters in Jakarta.

Related stories:

Garuda Indonesia answers questions about why it pays higher aircraft rental rates (November 8, 2021)

Another creditor sues Garuda Indonesia (October 26, 2021)

Indonesian court grants Garuda Indonesia some financial respite (October 21, 2021)

Government Says Garuda Indonesia Liquidation Possible (October 19, 2021)


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Global Crossing Airlines announces management webinar for https://civilavmed.com/global-crossing-airlines-announces-management-webinar-for/ Tue, 28 Dec 2021 22:31:33 +0000 https://civilavmed.com/global-crossing-airlines-announces-management-webinar-for/

MIAMI, December 28, 2021 (GLOBE NEWSWIRE) – Global Crossing Airlines Group Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the “Society” Where “GlobalX“) will host a Zoom webinar to provide a business update.

When: Monday January 10e, 2022, 2:00 p.m. EST (US and Canada)
Subject: Global Crossing Business Update
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_OICZC9lLSLemfEmz9k09Sg
After registering, you will receive a confirmation email with information about registering for the webinar.

About Global Crossing Airlines

GlobalX is a national airline in the United States 121 and an additional airline flying the Airbus A320 family aircraft. GlobalX flies as an ACMI and charter passenger airline serving markets in the United States, the Caribbean and Latin America. In 2022, GlobalX will enter the ACMI freight service with the cargo A321. For more information, please visit www.globalxair.com.

For more information please contact:

Ryan Goepel, Chief Financial Officer
E-mail: ryan.goepel@globalxair.com
Phone. : 786.751.8503

Caution regarding forward-looking information
This press release contains “forward-looking information” regarding anticipated developments and events that may occur in the future. Forward-looking information contained in this press release includes, without limitation, statements regarding the Company’s intention to fly as an ACMI chartered and crewed airline, the size of the Company’s aircraft fleet. and the destinations the Company intends to serve.
In some cases, forward-looking information may be identified by the use of words such as “plans”, “expects”, “budget”, “planned”, “estimates”, “forecasts”, “intentions”, ” anticipate “or” or variations of these words and phrases or statements that certain actions, events or results “could”, “could”, “would”, “could” or “would”, “occur” or “will be achieved” , suggesting future results, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements regarding future events or performance. The forward-looking information contained in this press release is based on certain factors and assumptions regarding, among other things, obtaining financing to continue airline operations; the accuracy, reliability and success of GlobalX’s business model; receipt in time as or will have sufficient aircraft to provide the service; the impact of competition and the competitive response to GlobalX’s business strategy; and the availability of aircraft. Although the Company considers these assumptions to be reasonable on the basis of the information currently available to it, they may prove to be inaccurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from future results, performance or achievements expressed or implied by the companies. forward-looking information. These factors include risks related to the ability to obtain financing on acceptable terms, the impact of general economic conditions, risks related to supply chain disruptions, failure to keep or obtain sufficient aircraft, domestic and international airline industry conditions, lower than expected passenger demand, impact of global uncertainty created by COVID-19, future shareholder relationships, fuel price volatility, increased operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, management’s ability to implement GlobalX’s operational strategy, ability to attract qualified executives and personnel , labor disputes, regulatory risks, including risks associated with the acquisition of the necessary licenses and permits; and additional risks identified in the “Risk Factors” section of reports and documents filed by the Company with applicable Canadian securities regulatory authorities. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those described in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. Therefore, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the Company assumes no obligation to publicly update any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepted responsibility for the adequacy or accuracy of this release.


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