Aircraft Financing – Civilav Med http://civilavmed.com/ Wed, 22 Jun 2022 11:53:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://civilavmed.com/wp-content/uploads/2021/04/default-150x150.png Aircraft Financing – Civilav Med http://civilavmed.com/ 32 32 XTI Aircraft Company appoints Mike Hinderberger CEO https://civilavmed.com/xti-aircraft-company-appoints-mike-hinderberger-ceo/ Wed, 22 Jun 2022 11:53:00 +0000 https://civilavmed.com/xti-aircraft-company-appoints-mike-hinderberger-ceo/

XTI aircraft logo

Mike is a seasoned and highly skilled executive in the aviation industry, having held leadership positions at Aerion, Gulfstream and Piper.

Mike is a seasoned and highly skilled executive in the aviation industry, having held leadership positions at Aerion, Gulfstream and Piper.

— David Brody, Founder and President of XTI

DENVER, CO, USA, June 22, 2022 /EINPresswire.com/ — XTI Aircraft Company appoints Mike Hinderberger CEO

XTI Aircraft Company (XTI) today announced that its former Senior Vice President for Engineering has been named Chief Executive Officer of the company. “We are entering a new phase for the company,” said David Brody, Founder and Chairman of XTI. “Mike is a seasoned and highly skilled executive in the aviation industry, having held leadership positions and led several significant programs at Aerion, Gulfstream and Piper. In addition to his new responsibilities which include a focus on achieving our funding, he will continue to lead the engineering and development of our first full-scale pilot prototype of the TriFan.

“I’m very excited for this opportunity,” Hinderberger said. “After working for a year directly on advancing the engineering of the TriFan, I am more confident than ever that we have a game-changing product that will revolutionize air travel. I look forward to putting my practical understanding of the TriFan to good use and our customers’ needs, and apply them more broadly to the company’s operations and long-term plans.

Recounting the company’s progress over the past few years, Brody said: “We conducted a series of successful hover tests in 2019 before the pandemic slowed us down. We continued to work with a number of key suppliers, began the process of obtaining FAA certification and received more than 300 reservations, firm orders and options for the aircraft so far. This represents approximately $2.25 billion in gross revenue upon delivery of these aircraft and represents full production capacity for XTI’s first two to three years of commercial operation.

“I sincerely want to thank Bob LaBelle,” continued Brody, “our former CEO, for more than five years of dedicated service to XTI. building and testing our 65% scale proof-of-concept aircraft, developing the significant order and booking backlog and recruiting the excellent engineering team that has now positioned the company to begin assembly and testing our first full-scale prototype of the TriFan 600 in the short term.On behalf of everyone at XTI, we wish Bob the best in all of his future endeavours.

“The market continues to recognize the value proposition of our unique and revolutionary aircraft and its patented technology,” Brody said. “Vertical takeoff combined with long range, the speed and comfort of a business jet, and our quieter, cleaner state-of-the-art propulsion system.”

The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business jet and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles per hour, with a range of up to 700 miles with vertical takeoff and vertical landing, and up to 900 miles with conventional takeoff and vertical landing. Using three ducted fans, the TriFan lifts vertically. Its two wing-mounted fans then rotate forward for a smooth transition to cruise speed and its initial climb. It will reach 29,000 feet in just ten minutes and cruise to the destination as a highly efficient business jet.

ABOUT XTI AIRCRAFT COMPANY
XTI Aircraft Company is a private aviation company based near Denver, founded in 2013. XTI is guided by a management team with decades of experience, deep expertise and success in bringing new aircraft to market. XTI is founded on a customer-focused, problem-solving culture to meet the ever-changing needs of modern travellers.

For more information and updates on XTI Aircraft Company and the TriFan 600, visit www.xtiaircraft.com. For more information on reserving a priority position for the TriFan under the company’s presale program, contact Mr. Saleem Zaheer.

Media contact for XTI Aircraft Company:

Saleem Zaher
Senior Vice President, Strategy and Business Development
XTI Aircraft Company
Centennial Airport Jet Center
7625 S. Peoria St., Suite 216A
Englewood, Colorado 80112

Saleem Zaher
XTI Aircraft Co
szaheer@xtiaircraft.com

XTI Aircraft Video

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5 Days to Go to the 2022 Aircraft Leasing Conference (Commercial, Legal and Technical Issues) in London, UK on June 24, 2022 https://civilavmed.com/5-days-to-go-to-the-2022-aircraft-leasing-conference-commercial-legal-and-technical-issues-in-london-uk-on-june-24-2022/ Mon, 20 Jun 2022 10:15:00 +0000 https://civilavmed.com/5-days-to-go-to-the-2022-aircraft-leasing-conference-commercial-legal-and-technical-issues-in-london-uk-on-june-24-2022/

DUBLIN, June 20, 2022 /PRNewswire/ — The “Aircraft Leasing: Business, Legal and Technical Issues” conference has been added to from ResearchAndMarkets.com offer.

Research and Markets Logo

Following its previous success in washington d.c., dubai, London, Dublin and online, the high-level interactive Aircraft Leasing Seminar is taking place at London.

The workshop has been refined over the years and recently major changes have been made, which are being introduced this year. The format is different, and in addition to the legal aspect of leases, the conference includes much more material on the technical aspect and commercial issues.

Speakers include:

  • Marc AtwoodMember, Cozen O’Connor

  • Jamie BaldwinJD, associate professor, University of Maryland Global Campus and Visiting Lecturer, University of Westminster (London, UK) and Emirates Aviation University (dubai)

  • Simon ClementExecutive Vice President Marketing, Novus Aviation Capital

  • Simon DaviesVice President of Sales, UK, Middle Eastand IndiaGlobal Jet Capital

  • Sylvain GlouxSenior Director Origination, Aviation Finance & Investment Solutions, NORD/LB

  • Rachel McKayAeronautical expert witness, KAYWAY.AERO & President, Association of German Aviation Experts (GAEA / VdL)

Who should attend:

Aircraft operators and manufacturers, lawyers, consultants, bankers, leasing and finance companies, insurance companies and all aviation professionals interested in aircraft leasing.

Conference agenda:

Commercial aspects

Commercial aspects (continued)

  • Financial leasing company sector (lessor)

  • Priorities and interests of the donor

  • Outlook

  • Overview of general aviation/business aviation

  • Goodbye, A380

Legal aspects

  • Overview of the main legal issues of a typical rental agreement

  • Transaction Summary

  • Parties/Property

  • Definitions

  • Representations and Warranties

  • Conditions precedent

  • Lease term

  • Payments

  • Security/lock deposit

  • Net rent/lease

  • pacts

  • Aircraft operation

  • Insurance

  • Keeping of registers and diaries

  • Event of Default

  • Allowances

  • Subletting

  • quiet pleasure

  • Cape Town Convention

  • Sovereign immunity

  • Privacy

  • Applicable law and jurisdiction

Technical aspects

Final remarks

For more information on this conference, visit https://www.researchandmarkets.com/r/3fkpsv

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Woodsenior
press@researchandmarkets.com

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
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View original content: https://www.prnewswire.com/news-releases/5-days-to-go-to-the-2022-aircraft-leasing-conference-commercial-legal-and-technical-issues-in – -london-uk-24-june-2022-301570980.html

SOURCE Research and Markets

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Metropolis lands $167m, Alpha Edison seeks $340m for fund https://civilavmed.com/metropolis-lands-167m-alpha-edison-seeks-340m-for-fund/ Sat, 18 Jun 2022 00:14:11 +0000 https://civilavmed.com/metropolis-lands-167m-alpha-edison-seeks-340m-for-fund/

In this week’s edition of “Raises”: A local fintech startup has raised $167 million to help pay for parking spaces, while Santa Barbara and Irvine software startups have also landed big raises of funds.


Capital risk

Metropolis Technologies, a Los Angeles-based fintech and “mobile commerce” platform, raised a $167 million Series B funding round co-led by 3L Capital and Assembly Ventures.

Overair, a Santa Ana-based electric vertical take-off and landing (eVTOL) aircraft startup, has raised a $145 million investment from Hanwha Group.

Invoca, a Santa Barbara-based AI software platform, raised an $83 million Series F funding round led by Silver Lake Waterman.

Performio, an Irvine-based sales commission software company, has raised a $75 million growth investment led by JMI Equity.

Moleaer, a Carson-based agricultural tech startup, raised a $40 million Series C funding round led by Apollo Global Management.

C-Zero, a Santa Barbara-based clean energy company focused on decarbonizing natural gas, raised a $34 million funding round led by SK Gas.

Tango, a Los Angeles-based platform that streamlines process documentation, raised a $14m Series A funding round led by Tiger Global Management.

XENDEE, a San Diego-based software provider for distributed energy resource planning and operations, raised $12m in Series A funding led by Anzu Partners.

Tellie, a Los Angeles-based site builder for Web3creators, raised $10 million in Series A funding from investors including Malibu Point Capital, Galaxy Digital, Osage Venture Partners, Dapper Labs, SXSW Innovation Fund and Gaingels .

Saysh, the Los Angeles-based lifestyle brand of Olympic track and field athlete Allyson Felix, has raised an $8 million Series A funding round led by IRIS Ventures and Athleta.

Funds

Alpha Edison, a Westwood-based venture capital firm, is seeking to raise $340 million for its third fund, according to an SEC filing.

Kairos Ventures, a Beverly Hills-based early-stage venture capital firm that invests in life science startups, has raised $58 million for its third fund.

Raises is dot.LA’s weekly article that highlights venture capital funding news in the Southern California tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).

]]> Privatization of space: Sky is no longer the limit – Marine/ Shipping https://civilavmed.com/privatization-of-space-sky-is-no-longer-the-limit-marine-shipping/ Tue, 14 Jun 2022 05:36:03 +0000 https://civilavmed.com/privatization-of-space-sky-is-no-longer-the-limit-marine-shipping/ To print this article, all you need to do is be registered or log in to Mondaq.com.

Do you remember the feeling of wandering through unfamiliar cities or traversing uncharted territories before the introduction of GPS systems? Have you ever thought what it means for a sailor to have the ability to contact loved ones wherever their ship is in the world? Do you remember that amazing feeling when you first tracked an airplane on your laptop or when you first connected to the internet on a plane across oceans? All these simple actions that are now part of our daily lives can only be carried out thanks to a satellite or a constellation of satellites often as big as a finger revolving around the world. All of the above is the result of the commercialization of space. In fact, with private entities having gained access to space over the past two decades, interest in space as an industry has sparked. Such interest is not surprising given that the space industry is estimated to reach around $2.3 trillion by 2030. The EU itself has allocated over €16 billion to boost this sector .

We are living in the next industrial revolution. An era based on accessible, sustainable and inclusive technology destined to change the way we live. Space is the instrument through which most of the world’s information will be conveyed in the future. No need for wires or cables. Everyone on earth, even in the most remote region of the globe, will be able to access the Internet and therefore reach everyone. The space industry is not limited to space tourism activities, but includes more traditional military and defense fields, as well as communication and R&D development fields that have a tangible influence on our daily lives. The fact that the sky and orbits are theoretically within everyone’s reach is a game-changer and constitutes an opportunity that an open economy like ours cannot miss.

Space activities have always been associated with state-led programs, mainly under the duopoly of the defunct Soviet Union and the United States. During the Cold War period, private operators were denied access to commercial space activities and no private organization could offer space launches: private entities participated in space programs only as subcontractors to government organizations. Both the US civilian space program and the Soviet space program would operate using primarily military pilots as astronauts.

Although the US Communications Satellite Act of 1962 allowed commercial consortia to launch satellites through the deployment of state-owned launch vehicles, it was not until the 21st century that private activities saw a surge and a more tangible presence in our orbits. In fact, at the beginning of the 2000s, the American authorities encouraged the space intervention of private actors by financing a series of programs intended to encourage private companies to offer both cargo space transport services and, later , crew.

The introduction of lower and standard prices for launch services after 2010 has made the skies and orbits accessible to everyone. Not a thing for big states but a universe for everyone. Even earlier, the Commercial Space Launch Amendment Act of 2004 updated by the Private Aerospace Competitiveness and Entrepreneurship Act of 2015 had legalized private spaceflight. Similar initiatives have also been introduced by major space nations such as Australia and the UK, with new players such as Luxembourg and Dubai emerging on the scene. The liberalization of the 1990s allowed aviation to grow from a stagnant sector to one of the most dynamic sectors in the world. The proportion of space privatization will be even larger.

Unification of laws and regulations

Laws and regulations in a civilized world are the equivalent of a captain’s lighthouse. Over the past 100 years, shipping and aviation have required the drafting, ratification, implementation and updating of dozens of international conventions. Rules brought uniformity and therefore stability, certainty and efficiency. These treaties have played a fundamental role in the steady and steady growth of these sectors, as it is only through the unification of laws and regulations across the world that ship and aircraft operators from different jurisdictions and origins were able to operate smoothly in the same global environment. .

The only 5 international conventions regulating space (shipping itself is regulated by more than 50 international conventions) adopted in the 1960s are almost entirely outdated and do not reflect the technological advances made in the sector in recent decades and the recent entry of private entities. . Several aspects such as the responsibility of States are addressed in an anachronistic approach, while those concerning the management of space debris are totally absent. The legal vacuum in this area has forced countries and space agencies to act on their own through various soft law instruments. The result is confusion and a lack of uniform measures as our orbits become increasingly crowded with the risk of regular collisions. Space is not a “no man’s land”, in the sense that measures should not be adopted unilaterally. The economic exploitation of space should only be done if common rules are adopted for the benefit of all and the preservation of the environment.

In the meantime, attempts to introduce common rules have been made. For example, the Convention on international warranties in mobile equipment (the “Agreement”) and the Space Assets Protocol (The “Berlin Protocol”) promoted by Unidroit. The objective of the Berlin Protocol is to make asset-based financing more accessible by creating a uniform regime, through the use of a centralized electronic register, intended to govern the creation, enforceability and execution of international guarantees on space assets in such a way that creditors benefit from basic remedies in the event of default and insolvency and, in the event of default, the possibility of obtaining almost immediate relief while the claims on the merits are still pending . Its entry into force will be a step towards a new era for the financing of space assets and, hopefully, the beginning of a unified space law.

Malta: replicating success in the aviation and shipping sector

Malta should look to the experience of countries like Luxembourg and the Isle of Man, which are similar in size and resources to Malta. In these countries, incredible energy has been devoted to achieving a single goal: to break into this sector with a good dose of innovation and efficiency. Our starting point should be decades of experience in licensing and registering assets such as seagoing vessels and aircraft, bearing in mind that the space industry requires more agility and an extremely responsive attitude to technological advances and challenges.

The lack of physical space, which usually represents the biggest handicap for the expansion of the shipping and aviation sector, can be overcome quite easily in Malta through mobile launching platforms such as ships , aircraft and oil rigs. Malta could also create a vital manufacturing sector focused on microchip production and product assembly. This would attract the creation of a new and qualified workforce made up of engineers and specialized technicians

All of this can be achieved through forward-looking bodies made up of competent and passionate people, an achievable goal.

Malta can and must become the epicenter of a tangible industry whose effects can be seen by the whole community. From assembly to launch to legal and related services beyond because for the first time in Maltese history the sky is no longer the limit.

Originally published by Times of Malta, 16 November 2021

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

POPULAR ARTICLES ON: Transport from Malta

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UPDATE: Global Crossing Provide – GuruFocus.com https://civilavmed.com/update-global-crossing-provide-gurufocus-com/ Sun, 12 Jun 2022 04:50:57 +0000 https://civilavmed.com/update-global-crossing-provide-gurufocus-com/

MIAMI, May 12, 2022 (GLOBE NEWSWIRE) — Global Crossing Airlines Group Inc. ( JET: NEO; JET.B: NEO; JETMF: OTCQB ) (the ” Company ” Where ” GlobalX ”) is pleased to announce that it intends to report first quarter 2022 results after market close on Monday, May 16e and will host a Zoom webinar to provide a business update and discuss Q1 the following day.

When: May 17, 2022 2:00 p.m. EST (US and Canada)

Subject: Global Crossing Corporate First Quarter Update

Register in advance for this webinar:

https://bit.ly/3swlQPY

After registering, you will receive a confirmation email with information about joining the webinar.

About Global Crossing Airlines

GlobalX is a US national flag 121 and additional airline operating Airbus A320 family aircraft. GlobalX flies as an ACMI and charter airline serving the United States, Caribbean and Latin American markets. For more information, visit www.globalxair.com.

For more information please contact:

Ryan Goepel, Chief Financial Officer
E-mail: [email protected]
Tel: 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 in this press release includes, but is not limited to, statements regarding the size of the company’s aircraft fleet and the destinations the company intends to serve.

In some cases, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “expected”, “estimates”, “anticipates”, “intends”, ” anticipates” or variations of such words and phrases or statements that certain actions, events or results “could”, “could”, “would”, “could” or “will be taken”, “occur” or “will be achieved” suggesting future results, 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, the receipt of funding to continue flight operations; the accuracy, reliability and success of GlobalX’s business model; the timely receipt of government approvals; the success of GlobalX’s flight operations; the legislative and regulatory environments of the jurisdictions where GlobalX will operate or conduct business; the Company has or will have a sufficient number of aircraft to provide the service; the impact of competition and the competitive response to GlobalX’s business strategy; and aircraft availability. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

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 be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. These factors include risks relating to the ability to obtain financing on acceptable terms, the impact of general economic conditions, risks relating to supply chain disruptions, failure to retain or obtain sufficient aircraft, domestic and international airline industry conditions, lower than expected passenger demand, the impact of global uncertainty created by COVID-19, future shareholder relations, 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 operating strategy, the ability to attract qualified management and personnel, labor disputes, regulatory risks, including risks related to the acquisition of s necessary licenses and permits; and the additional risks identified in the “Risk Factors” section of the reports and documents filed by the Company with the applicable Canadian securities authorities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or expected. Accordingly, 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 undertakes no obligation to publicly update any forward-looking information.

Global-Crossing-Airlines-Group.png ]]> Tom Brady’s Production Company Lands $50M, Wavemaker 360 Closes $64M Healthcare Fund https://civilavmed.com/tom-bradys-production-company-lands-50m-wavemaker-360-closes-64m-healthcare-fund/ Fri, 10 Jun 2022 23:30:14 +0000 https://civilavmed.com/tom-bradys-production-company-lands-50m-wavemaker-360-closes-64m-healthcare-fund/

This week on “Raises”: San Diego led the way with big funding for a pair of biotech and aerospace startups based there, while another Los Angeles-based Tom Brady company landed its own raise. Meanwhile, a Pasadena healthcare VC has launched its second fund.


Capital risk

Resiliencea San Diego-based biomanufacturing company, raised a $625 million Series D funding round undisclosed investors. The company also unveiled a previously unannounced $600 million Series C funding round raised last year.

AI Shielda San Diego-based AI driver developer, raised a $90 million Series E seed round led by Doug Philippone of Snowpoint Ventures.

sports religiona Santa Monica-based sports media production company co-founded by NFL legends Tom Brady and Michael Strahan, has raised a $50M Series B Funding Round led by Shamrock Capital.

Trovatáa San Diego-based open banking platform, raised a $27M Series B Funding Round led by Fin Capital.

Calaxiaa Los Angeles-based Web3 social media app co-founded by NBA player Spencer Dinwiddie, raised $26 million in new funds co-directed by the HBAR Foundation and Animoca Brands.

Just women’s sporta Los Angeles-based media platform dedicated to women’s sports, raised a $6 million financing round led by Blue Pool Capital.

Adama Los Angeles-based Web3 content creation platform co-founded by actor Rob McElhenney, raised $5 million in seed funding led by Chris Dixon, General Partner of Andreessen Horowitz.

Jarsa Los Angeles-based e-commerce startup, raised a $4.2 million seed round co-led by Harlem Capital and Crossbeam Venture Partners.

Medical device company based in Aliso Viejo Shiny pissing raised $4 million in seed funding of Academy Investor Network, Fred Moll and other angel investors. He also received a $2 million grant from the National Institutes of Health (NIH).

IndieFlowa Santa Monica-based platform for independent music artists, raised $4 million in funding led by State of Mind Ventures.

Curioa Santa Monica-based NFT analytics startup, raised a $3.7M Seed Funding Round led by Alexis Ohanian’s 776.

Ivellaa Santa Monica-based fintech startup aimed at couples, raised $3.5 million in funding of Anthemis, Financial Venture Studio and Soma Capital.

RE Revolutionan LA-based data and analytics platform for residential real estate companies, raised a $3 million financing round from investors such as 29th Street Ventures, Modern Ventures, Techstars, PLG Ventures, Silicon Badia and Jason Calacanis’ LAUNCH.

Gold Appliancesa San Luis Obispo-based startup specializing in devices for people with Parkinson’s disease, raised a $2.8M Seed Funding Round led by True Wealth Ventures.

LA-based blockchain gaming site arcade of haste raised $1.5 million in seed funding led by Logic Boost Labs CEO Jonathan Cogley.

Funds

Wavemaker 360 Health, a Pasadena-based venture capital fund focused on early-stage healthcare startups, has closed its $64 million second fund.

Raises is dot.LA’s weekly article that highlights venture capital funding news in the Southern California tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).

Related articles on the web

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ZeroAvia and MONTE reach agreement for 100 hydrogen-electric powertrains to enable zero-emission aircraft leasing https://civilavmed.com/zeroavia-and-monte-reach-agreement-for-100-hydrogen-electric-powertrains-to-enable-zero-emission-aircraft-leasing/ Thu, 09 Jun 2022 07:03:53 +0000 https://civilavmed.com/zeroavia-and-monte-reach-agreement-for-100-hydrogen-electric-powertrains-to-enable-zero-emission-aircraft-leasing/

ZeroAvia has signed an agreement with MONTE Aircraft Leasing (MONTE), the pioneering lessor of zero-emission turboprop regional aircraft. As part of the agreement, the partners will offer aircraft leasing and financing solutions enabling operators to fly zero-emissions.

As part of the agreement, MONTE will purchase up to 100 ZA600 power units for installation on existing and new Cessna Caravan, DHC-6 Twin Otter, Dornier 228 and HAL-228 aircraft. MONTE and ZeroAvia aim to modernize the aircraft for customers from 2024 and will provide and fund maintenance services and hydrogen availability to support these operations. The agreement will make ZeroAvia MONTE the exclusive supplier of hydrogen-electric powertrains for these aircraft.

ZeroAvia’s ZA600 powertrain – ZeroAvia’s market entry, 600kW system, designed to support 5-20 seat airframes by 2024 – uses hydrogen gas stored onboard in tanks light. Hydrogen powers fuel cells that generate energy by converting hydrogen into electricity.

ZeroAvia will soon be flight testing the ZA600 powerplant in a retrofitted Dornier 228. In the initial test configuration, the aircraft testbed will fly with a hydrogen-electric powertrain on one wing, while keeping the stock engine on the other wing to ensure safe test conditions. The test program will then transition sequentially to fully hydrogen-electric flight, eventually working towards a hydrogen-electric powertrain certifiable as the sole source of propulsion for the airframe categories included in this agreement with MONTE.

Development work from the ZA600 to a certifiable configuration is part of the HyFlyer II project, partly supported by the UK government through the ATI programme.

Based in the United Kingdom and the United States, ZeroAvia has already obtained experimental certificates for its two prototype aircraft from the CAA and the FAA, achieved significant flight test milestones, concluded a number of key partnerships with major aircraft OEMs and major global airlines, and is on track for commercial operations in 2024. The company’s expanding UK operations are supported by grants from the British Institute of Technology aerospace and Innovate UK, and ZeroAvia is part of the UK government’s Jet Zero Council.

MONTE is exclusively focused on supporting the aviation industry’s transition to net zero carbon emissions by providing financing and leasing solutions for zero emission technologies to regional aircraft operators. MONTE aims to become the world’s first carbon-neutral aircraft leasing company by 2027.

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Live updates: London’s economic recovery challenges UK regional ‘leveling up’ agenda https://civilavmed.com/live-updates-londons-economic-recovery-challenges-uk-regional-leveling-up-agenda/ Tue, 07 Jun 2022 09:37:40 +0000 https://civilavmed.com/live-updates-londons-economic-recovery-challenges-uk-regional-leveling-up-agenda/

The Reserve Bank of Australia raised interest rates by 50 basis points, aiming to rein in runaway inflation with an increase that beat forecasts.

The decision to raise the policy rate to 85 basis points demonstrates a more aggressive stance on the part of the central bank on inflation after a moderate hike last month. It is the first time the RBA has introduced back-to-back rate hikes since 2010 and the biggest rate hike since February 2000.

RBA Governor Philip Lowe said the action was needed to bring inflation back to target levels over time.

“Inflation is expected to pick up again, but then come back down to the 2-3% range next year,” he said. “Higher electricity and gas prices and recent increases in petrol prices mean that in the short term inflation is likely to be higher than expected a month ago.”

Inflation has been lower in Australia than in many other markets, but the cost of petrol and fresh food has started to shake consumer confidence. Fast food chain KFC said this week it would start using cabbage leaves in Australia due to supply chain issues that have increased the cost of lettuces.

The supply problems were partly due to the recent floods in the country which hit the agricultural sector. Lowe said global factors, including the pandemic and the war in Ukraine, also contributed to higher inflation, as did a tight labor market.

Jim Chalmers, Australia’s new treasurer after Labor came to power last month, warned of a “catastrophic” economic situation if inflation is left unchecked.

Chalmers wrote on Twitter: “Difficult news for homeowners already facing soaring costs of living, including soaring energy prices. A brighter future awaits us, but first we must meet together the inflation challenge that we inherited and the accompanying rise in interest rates.

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KBRA Assigns Preliminary Rating BBB- to JFK NTO, LLC’s $6.63 Billion Financing for JFK Airport Terminal 1 Redevelopment https://civilavmed.com/kbra-assigns-preliminary-rating-bbb-to-jfk-nto-llcs-6-63-billion-financing-for-jfk-airport-terminal-1-redevelopment/ Fri, 03 Jun 2022 22:16:00 +0000 https://civilavmed.com/kbra-assigns-preliminary-rating-bbb-to-jfk-nto-llcs-6-63-billion-financing-for-jfk-airport-terminal-1-redevelopment/

NEW YORK–(BUSINESS WIRE)–KBRA assigns its preliminary BBB- rating to the $6.63 billion financing proposed by JFK NTO, LLC for Phase A of the Terminal One, also known as New Terminal One (NTO), redevelopment project at the airport international John F. Kennedy of New York (JFK). The outlook is stable. The financing plan consists of a single five-year term loan with two tranches totaling $6.33 billion, as well as a $200 million liquidity facility, a $50 million working capital facility and a $50 million security deposit facility to be borrowed by New York Transportation Development Corporation, a local development corporation, as intermediary issuer and then on-lent to JFK NTO, LLC (the borrower). The funding will also include $2.33 billion in sponsor equity (backed by LCs).

This design-build-operate-maintain project at Terminal One, JFK’s only international-only terminal, is the first step in a larger airport redevelopment plan. The project is operated under a lease agreement with the Port Authority of New York and New Jersey (PANYNJ), which will be extended through December 30, 2060, at financial close.

A design-build (DB) agreement will be signed with Tishman Construction Corporation of New York (the DB contractor) for NTO’s Phase A, which includes a $5.7 billion brownfield redevelopment of the terminal. The existing Terminal 1 is a 700,000 square foot international terminal at JFK that can accommodate approximately 7 million passengers annually in space originally designed to accommodate half that amount. The current terminal has 10 gates, nine widebodies (Boeing 767, 777, 787 and Airbus 300 twin-aisle aircraft) and one narrow body. Phase A of the new Terminal 1 will provide a 1.7 million square foot terminal with 13 widebody contact doors and one temporary widebody door. As part of the agreement, the new Terminal One will be built on the sites of the existing Terminal Two and the old Terminal Three. The construction plan has been designed to minimize disruption and allow the existing Terminal 1 to continue operating until Phase A is completed in 2026.

The Borrower will manage the new Terminal 1 in conjunction with Ferrovial Airports US Operation and Management Services LLC (Ferrovial Airports), which will provide advisory services, technical services and staff training before and after financial close. The project will be led by a consortium formed by Carlyle, Ferrovial, JLC Infrastructure and Ullico (collectively, the Sponsors).

Under KBRA’s rating scenario, we expect the project to have average debt service coverage ratios (DSCRs) of 2.15x over the lease term, and discounted cash flow to debt ratios above 1x at each planned refinancing point. The stable rating and outlook reflects the contract structure of the project, the experience of the DB contractor and the substantial cash flow from payments and performance bonds over the design and construction period.

Once operations are transferred to the new terminal one, the project’s debt will be mainly repaid by aeronautical revenues made up of installation charges expressed as costs per boarding (CPE) by the user airlines.

KBRA has analyzed the transaction using its Global Project Finance Rating Methodology, released on January 19, 2021, and its Global ESG Rating Methodology, released on June 16, 2021. KBRA will review the final financing documents, operational agreements and legal opinions for the transaction. before closing.

The preliminary rating is based on information known to KBRA at the time of this publication. Information received after this press release could result in the awarding of a final score that differs from the preliminary score.

Click here to see the report. To access relevant notes and documents, click here.

Related Publications

Disclosures

Further information on key credit considerations, sensitivity analyzes that consider factors that may affect these credit ratings and how they could lead to an upgrade or downgrade, and ESG factors (where they are a key factor in changing the credit rating or rating outlook) can be viewed in the full rating report mentioned above.

A description of all substantially significant sources that were used to prepare the credit rating and information on the methodology(ies) (including all significant models and sensitivity analyzes of key relevant rating assumptions, if any) used to determine the credit rating are available. in the information disclosure form(s) located here.

Information on the meaning of each rating category can be found here.

Additional information relating to this rating metric is available in the information disclosure form(s) referenced above. Additional information regarding KBRA’s policies, methodologies, grading scales and disclosures is available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the United States Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a rating agency with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a rating agency with the UK Financial Conduct Authority under the temporary registration scheme. In addition, KBRA is designated as the Designated Rating Agency by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a credit rating provider.

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Here’s what you need to know ahead of Tadawul trading on Thursday https://civilavmed.com/heres-what-you-need-to-know-ahead-of-tadawul-trading-on-thursday/ Thu, 02 Jun 2022 08:01:53 +0000 https://civilavmed.com/heres-what-you-need-to-know-ahead-of-tadawul-trading-on-thursday/

Saudi aviation sector needs foreign investment to meet 330 million passenger target, official says

RIYADH: Private and foreign investment is needed to elevate Saudi Arabia’s aviation industry, even as the country targets 330 million passengers and 250 international destinations by the end of this decade, a senior civil aviation official has said .

“The Public Investment Fund is our main partner. We are very happy to have such an investment powerhouse. But not only PIF; we need everyone’s cooperation. We need the private sector. We need foreign investors as much as we need the PIF,” said Mohammed Alkhuraisi, Head of Strategy, General Civil Aviation Authority, in an exclusive interview with Arab News.

Regional logistics hub

During the interview, Alkhuraisi revealed that GACA has solid plans to turn Saudi Arabia into a logistics hub as it targets a shipment of 4.5 million by 2030.

He added that of the 4.5 million cargo shipments targeted, 2 million would be transshipments exclusively.

We need foreign investors as much as we need the PIF

Mohammed Alkhuraisi, Head of Strategy, General Civil Aviation Authority

Outlining GACA’s plans for logistics regulations, Alkhuraisi said, “There is a clear roadmap on what we will do in cargo in terms of relaxing regulations, streamlining processes and building specialized economic zones. , specialized warehouses and facilities, etc.”

He added: “With the help of the services of the Ministry of Transport and Logistics, we are marching on the execution of these regulations and publishing them.”

The GACA official also confirmed that a new national carrier will soon be launched in Saudi Arabia. (A)

GACA is no longer an operator

During the interview, Alkhuraisi clarified that GACA is no longer an operator but a regulator.

“So today, GACA is a pure regulator and no longer an operator. GACA operated airports for the past decades, and now we have completely separated that. All airports and operations are within companies focused on operational matters, while GACA focuses solely on regulatory affairs,” he added.

During the interview, Alkhuraisi also highlighted the steps to be taken to revive the aviation industry which has been severely affected by the COVID-19 pandemic.

“To smooth the recovery of airline business, you need to optimize the cost environment. And that is the responsibility of the regulator. So there is a need to ensure that we have the right sets of regulations and incentive schemes to have a cost structure in line with best practices.

However, he admitted that there are several other things over which the regulator has no control, including the cost of owning aircraft, labor and human capital.

HIGHLIGHTS

  • GACA has solid plans to turn Saudi Arabia into a logistics hub by 2030

  • It targets a freight shipment of 4.5 million, of which 2 million would be exclusively transhipment

  • GACA’s strategy aims to attract 330 million passengers per year to the Kingdom

More partnerships with foreign carriers

Alkhuraisi also added that Saudi Arabia wants more foreign carriers connected to the Kingdom through bilateral agreements.

“We would like to have more foreign carriers connected to the Kingdom under our bilateral agreements. For example, KLM. They exploited the roads of Amsterdam. Other airlines would be encouraged and welcome; whether Asian, Latin American, North American or from different parts of Europe, all are welcome to come and start operating direct routes in the Kingdom.

Alkhuraisi also confirmed that a new flag carrier will soon be launched in Saudi Arabia, which was announced earlier by Saudi Transport Minister Saleh Al-Jasser at the recently concluded Future Aviation Forum.

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