Aircraft Financing – Civilav Med http://civilavmed.com/ Fri, 07 May 2021 04:42:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://civilavmed.com/wp-content/uploads/2021/04/default-150x150.png Aircraft Financing – Civilav Med http://civilavmed.com/ 32 32 Airlines facing new turmoil https://civilavmed.com/airlines-facing-new-turmoil/ https://civilavmed.com/airlines-facing-new-turmoil/#respond Mon, 19 Apr 2021 23:22:00 +0000 https://civilavmed.com/airlines-facing-new-turmoil/ A notice board shows flights canceled at Suvarnabhumi Airport on Sunday following CAAT’s decision to suspend flights. Wichan Charoenkiatpakul Airlines brace for further turbulence as the new wave of infections depresses the prospects of recovery, while urging the government to step up the vaccination program to end the crisis. Bangkok Airways chairman Puttipong Prasarttong-Osoth said […]]]>


A notice board shows flights canceled at Suvarnabhumi Airport on Sunday following CAAT’s decision to suspend flights. Wichan Charoenkiatpakul

Airlines brace for further turbulence as the new wave of infections depresses the prospects of recovery, while urging the government to step up the vaccination program to end the crisis.

Bangkok Airways chairman Puttipong Prasarttong-Osoth said the airline had to wait for an update on the situation that raised more concern than the second wave at the end of last year.

In the meantime, airlines must adapt quickly and comply with government guidelines.

Recently, the Civil Aviation Authority of Thailand (CAAT) announced the suspension of all domestic flights between 11 p.m. and 4 a.m., while asking airlines to adopt social distancing for passengers.

Mr Puttipong, who is also president of the Airlines Association of Thailand, said there was an urgent need to bring in as many doses of the vaccine as possible, whether by the government or the private sector, to stem the ‘epidemic and continue with the Phuket sandbox – the reopening scheme for international travelers.

If the government can control the last wave within a month, the industry may not be badly affected.

“Layoffs are the last resort for airlines, as it will be more difficult to recruit new staff when air transport rebounds in the next 3-6 months,” Puttipong said.

Thai Lion Air (TLA) chief commercial officer Nuntaporn Komonsittivate said the tourism industry has not fully recovered from the previous outbreak.

The latest outbreak reduced demand during Songkran, leading to a load factor of around 60-63%, down from the 85% level expected before the last high rate of infections.

The average load factor in April is expected to close at 60%. He must also adjust flight frequencies on a daily basis and comply with CAAT regulations.

Ms Nuntaporn said the airline needs to closely monitor government and individual province policies as well as load factor changes in order to plan its day-to-day operations.

Passenger numbers are expected to drop significantly after the Songkran Festival, especially after the spike in new cases triggered stricter travel policies.

In a worst-case scenario, TLA could potentially reduce flight frequencies to just 10 to 20 flights per day, as seen in January due to the second outbreak.

“The government needs to speed up the immunization process because vaccines are the light at the end of the tunnel, which helps improve not only the tourism sector, but also the livelihoods of everyone in the country,” Ms. Nuntaporn said. .

Meanwhile, Woranate Laprabang, managing director of Thai Vietjet, said CAAT’s flight suspension after 11 p.m. affected about 5-8% of total flights. The airline wants the order to be lifted as soon as the situation improves.

“We still hope that the government will understand how the airlines have been affected by the epidemic and offer support in the form of concessional loans to the airlines,” he said.



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Delaware State University partners with United Airlines to train new pilots | State and region https://civilavmed.com/delaware-state-university-partners-with-united-airlines-to-train-new-pilots-state-and-region/ https://civilavmed.com/delaware-state-university-partners-with-united-airlines-to-train-new-pilots-state-and-region/#respond Mon, 19 Apr 2021 22:15:00 +0000 https://civilavmed.com/delaware-state-university-partners-with-united-airlines-to-train-new-pilots-state-and-region/ Delaware State University (DSU) aviation graduates will have a direct path to becoming a pilot with a major airline through a new affiliate partnership between the university and United Airlines. The university and United recently announced the new partnership at Delaware Airpark, home to DSU’s aviation program. The partnership reflects United Airlines’ renewed commitment to […]]]>


Delaware State University (DSU) aviation graduates will have a direct path to becoming a pilot with a major airline through a new affiliate partnership between the university and United Airlines.

The university and United recently announced the new partnership at Delaware Airpark, home to DSU’s aviation program.

The partnership reflects United Airlines’ renewed commitment to diversity, equity and inclusion.

Through their Aviate Academy, the only flight school for a major US airline, United plans to train 5,000 new pilots by 2030 with the goal of at least 50% of them being women or people of color.

Aviate will work closely to build relationships with Historically Black Colleges and Universities (HBCUs) as another source of underrepresented pilots. Delaware State University was chosen as the first partner.

United also aims to hire more than 10,000 pilots over the next decade and have the largest fleet of jumbo jets in North America, providing new applicants with the opportunity to advance their careers within United Airlines.

“We have a tremendous opportunity to strengthen our commitment to diversity, equity and inclusion in 2021 and beyond,” said United Airlines President Brett Hart.

“Inspired by Aviate’s motto, ‘Love to fly, born to lead,’ we look forward to working alongside our partners at Delaware State University, and we welcome the next generation of aviators to the role. piloting. “

For United Aviate Academy students in need of additional funding, United has partnered with Newark-based Sallie Mae to offer private student loans. The academy plans to enroll 100 students in 2021.

United has also pledged to fund $ 1.2 million in scholarships. The airline’s credit card partner JPMorgan Chase has also pledged $ 1.2 million to support women and people of color accepted into the academy.

“When a student graduates from the DSU aviation program with all of their FAA certifications and diploma, they usually leave via a flight instructor with us or elsewhere to get their 1000 hours,” said Michael Hales, Lt. -colonel and director of the retired US military. aviation programs in the state of Delaware.

“Once hired by a regional airline, they spend about two to three years there before moving to the rank of captain in that region,” he added. “They spend another seven years before they can get to United, Delta, JetBlue, Southwest or American Airlines. This also includes FedEx or UPS.

“Now, through this partnership, our students can graduate from our aviation program and instead of working for a major airline 10 years after graduation, they can now fly to United two to three. years after graduation, ”Hales said.

Delaware State University President Tony Allen said the goals of United Airlines and its aviation program reflected intentionality.

“When it comes to diversity, equity and inclusion, you can’t hope for better, you have to do better,” Allen said. “It starts with leadership and partnership. As the # 1 supplier of colored pilots in the country, we are proud of United’s leadership and excited about the partnership. “

The Delaware State Aviation Program offers a Bachelor of Science degree with two concentrations, Commercial Pilot and Aviation Management.

Students of the professional pilot track are left with six certifications: private, instrument, commercial, multiengine instructor, CFI (certified flight instructor) and CFII (certified flight instructor-instruments).

CFI allows participants to train students in single-engine and sometimes twin-engine aircraft. CFII allows them to train students for an instrument rating.

Most students get at least 350 hours by the end of their certificates – and if they apply themselves to teaching others in their final year, it can reach almost 1,000 hours.

The Aviation Management track prepares students for the roles of airline executives, managers and supervisors.

“Over four years, you’ll spend less here than anywhere else on the US East Coast learning how to be a commercial pilot,” Hales said.

“We also offer free discovery flights. We will take you flying on a plane with an instructor for 30-45 minutes just for the students to try out aviation and see if it’s something they might be interested in, ”he added. “About 90% of students [are] in my aviation program at DSU because Discovery Flight put them above the goal line.

Delaware State University has the largest fleet of aircraft of any HBCU with an aviation program. The university also has the lowest flight lab fees on the East Coast.

“As a program we were already recruiting our students, but now, through this partnership with United, students can get to a major airline much faster and that’s huge,” Hales said.



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White & Case Hires Director of Allen & Overy in Johannesburg to Strengthen Debt Financing Coverage https://civilavmed.com/white-case-hires-director-of-allen-overy-in-johannesburg-to-strengthen-debt-financing-coverage/ https://civilavmed.com/white-case-hires-director-of-allen-overy-in-johannesburg-to-strengthen-debt-financing-coverage/#respond Mon, 19 Apr 2021 19:10:50 +0000 https://civilavmed.com/white-case-hires-director-of-allen-overy-in-johannesburg-to-strengthen-debt-financing-coverage/ Banking and financial partner Lionel Shawe will provide both national and cross-border expertise Johannesburg Shutterstock; WitR White & Case has hired Lionel Shawe, Managing Partner of Allen & Overy (A&O) in Johannesburg, to strengthen its global and Africa debt financing practices. Banking and finance lawyer Shawe joins as a partner in the firm’s Johannesburg office, […]]]>


Banking and financial partner Lionel Shawe will provide both national and cross-border expertise

Johannesburg Shutterstock; WitR

White & Case has hired Lionel Shawe, Managing Partner of Allen & Overy (A&O) in Johannesburg, to strengthen its global and Africa debt financing practices.

Banking and finance lawyer Shawe joins as a partner in the firm’s Johannesburg office, bringing with him extensive experience in advising on domestic and cross-border transactions. He specializes in mining and aircraft financing, fund acquisition and financing, and various other types of debt and equity transactions.

Gareth Hodder, Executive Partner of White & Case in Johannesburg, said: “Africa’s continued development offers significant investment opportunities, especially in telecommunications, banking, energy and transport, and “South Africa is an established hub and gateway for the continent.”

He added, “The addition of Lionel in Johannesburg will complement our M&A and corporate practice… and help meet the growing demand from our clients here for advice on complex international transactions.”

Shawe joined A&O to lead the opening of its Johannesburg office in 2014 from Bowmans, where he was responsible for banking and finance for almost five years. Previously, he was responsible for banking and financial services at Deneys Reitz, where he spent 14 years.

Colin Harley, Regional Head of EMEA Banking Services at White & Case, said: “Lionel is a leading banking lawyer who will bring further strength, depth and credibility to our debt financing practice in Johannesburg and in the world. Offering more extensive debt financing capabilities in Johannesburg through the addition of Lionel will allow us to provide even greater support to global clients on inbound investments in South Africa and the sub-Saharan region and to South African clients who looking to invest outside the country. “

Shawe is the third high profile addition to its South African business in the past three years. Gary Felthun joined ENSafrica in 2018 to lead the company’s M&A and corporate practice in Johannesburg, with Hodder also moving to Johannesburg during this time.

Oliver Brettle, White & Case Global Executive Committee Member, said: “Africa is a strategically important market for the company, we have been advising clients across the continent for over 40 years, and our Johannesburg office is one of them. the key. The addition of Lionel demonstrates our continued commitment to the office and the region. “

White & Case was the first international law firm to open in South Africa, in 1995, and currently lists five partners as being based there.



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Barnes Group Inc.Announces Contract Award With Northrop Grumman For B-2 Spirit Stealth Bomber Exhaust System Assemblies https://civilavmed.com/barnes-group-inc-announces-contract-award-with-northrop-grumman-for-b-2-spirit-stealth-bomber-exhaust-system-assemblies/ https://civilavmed.com/barnes-group-inc-announces-contract-award-with-northrop-grumman-for-b-2-spirit-stealth-bomber-exhaust-system-assemblies/#respond Mon, 19 Apr 2021 18:00:00 +0000 https://civilavmed.com/barnes-group-inc-announces-contract-award-with-northrop-grumman-for-b-2-spirit-stealth-bomber-exhaust-system-assemblies/ WINDSOR, Connecticut – (BUSINESS WIRE) – Barnes Aerospace, a business unit of Barnes Group Inc. (NYSE: B), today announced that it has been awarded a multi-year contract by Northrop Grumman to produce a major metal sub-assembly for the B-2 Spirit Stealth Bomber Tailpipe Mid / Complete replacement program for the rear assembly fleet. The assemblies […]]]>


WINDSOR, Connecticut – (BUSINESS WIRE) – Barnes Aerospace, a business unit of Barnes Group Inc. (NYSE: B), today announced that it has been awarded a multi-year contract by Northrop Grumman to produce a major metal sub-assembly for the B-2 Spirit Stealth Bomber Tailpipe Mid / Complete replacement program for the rear assembly fleet. The assemblies will be fabricated at Barnes Aerospace’s facility in Ogden, Utah, which has extensive expertise in precision exotic metal forming and complex assemblies. Barnes Aerospace has a long-term relationship with Northrop Grumman on complex and difficult-to-manufacture products.

“Barnes Aerospace is committed to partnering with its customers through its concurrent engineering capabilities to develop manufacturing solutions that deliver superior value. We look forward to continuing to support the B-2 Spirit Stealth Bomber program with Northrop Grumman, ”said Mike Beck, Senior Vice President of Barnes Group Inc. and President of Barnes Aerospace.

About Barnes Aerospace

Barnes Aerospace is a global manufacturer of complex, precision manufactured and machined components and assemblies for turbine engines, nacelles and structures for commercial and defense-related aircraft. In addition, Barnes Aerospace provides aircraft engine component MRO services to several of the world’s leading turbine engine manufacturers, commercial airlines and the defense market. It also manufactures and delivers spare parts.

About the Barnes Group

Barnes Group Inc. (NYSE: B) is a global provider of highly sophisticated products, differentiated industry technologies and innovative solutions, serving a wide range of end markets and customers. Its specialized products and services are used in large-scale applications including aerospace, transportation, manufacturing, automation, healthcare and packaging. The skilled and dedicated Barnes Group employees around the world are committed to the highest standards of performance and to achieving consistent and sustainable profitable growth. Barnes Group is committed to upholding corporate responsibility and promoting environmental, social and governance principles, as evidenced by our listing as one of America’s Most Responsible Companies by Newsweek. For more information, visit www.BGInc.com.

Forward-looking statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to our future operating and financial performance and financial condition and often contain words such as “anticipate”, “believe”. “Expect”, “plan”, “estimate”, “plan”, “continue”, “want”, “should” and similar terms. These forward-looking statements are not guarantees of future performance and are subject to a variety of risks and uncertainties which may cause actual results to differ materially from those expressed in forward-looking statements. These risks include uncertainties related to financial market conditions; the future financial performance of the industries or customers we serve; risks associated with international sales and operations; the ability to maintain adequate liquidity and sources of funding; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in the documents filed by Barnes Group Inc. with the United States Securities and Exchange Commission, including its most recent reports on Forms 10 -K, 10-Q and 8- K. The Company assumes no obligation to update our forward-looking statements.



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Ettyl from Isle of Man flies to Stobart Air https://civilavmed.com/ettyl-from-isle-of-man-flies-to-stobart-air/ https://civilavmed.com/ettyl-from-isle-of-man-flies-to-stobart-air/#respond Mon, 19 Apr 2021 16:04:00 +0000 https://civilavmed.com/ettyl-from-isle-of-man-flies-to-stobart-air/ ESKEN, the owner of Aer Lingus regional operator Stobart Air, has confirmed that it is in advanced talks to sell the Dublin-based carrier to Isle of Man-based Ettyl. he Irish freelance revealed last month that Ettyl had entered the race to acquire Stobart Air. Esken, formerly Stobart Group, pledged last year to have sold Stobart […]]]>


ESKEN, the owner of Aer Lingus regional operator Stobart Air, has confirmed that it is in advanced talks to sell the Dublin-based carrier to Isle of Man-based Ettyl.

he Irish freelance revealed last month that Ettyl had entered the race to acquire Stobart Air.

Esken, formerly Stobart Group, pledged last year to have sold Stobart Air by the end of February this year. A sale has not yet been concluded.

Esken said in a statement today that he is also in talks with Ettyl to sell Carlisle Airport.

“There can be no certainty that an agreement will be made or that the transaction will close as it remains subject to final contract questions and approvals,” Esken said.

Ettyl is headed by Jason Scales, who founded the virtual airline last year. He also runs a shared office center called The Hubb on the Isle of Man. He is listed in company documents as being the sole shareholder in Ettyl when it was formed around the same time last year.

It is believed that if successful in his bid to buy Stobart Air, Ettyl would retain the carrier’s headquarters in Dublin and its key management team, including chief executive Andy Jolly.

It is believed that Ettyl may be ready to inject up to € 25million into Stobart Air.

It is not known at this stage where Ettyl’s funding will come from.

The final say on the buyer of Stobart Air will effectively rest with Aer Lingus as the Aer Lingus Regional contract operated by Stobart Air does not expire until the end of 2022.

Last November, businessman Conor McCarthy Emerald Airlines was named the preferred bidder to operate the Aer Lingus Regional contract upon expiration of the Stobart Air contract. Mr. McCarthy is also the owner of the aircraft maintenance company Dublin Aerospace.

It is believed that if Ettyl succeeds in its bid to buy Stobart Air, it plans to use around three aircraft from the carrier’s fleet to operate domestic routes in Britain from the summer to generate cash flow. additional.

Stobart Air currently has a fleet of 13 ATR turboprop aircraft, but due to the impact of the pandemic it operates a limited schedule which includes public service routes to Dublin from Donegal and Kerry, as well as some services from Belfast.

Esken has commitments of around $ 100 million attached to Stobart Air through a connected leasing company called Propius.

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How did Construction Dive’s “mini-mega-cities” evolve during the pandemic? https://civilavmed.com/how-did-construction-dives-mini-mega-cities-evolve-during-the-pandemic/ https://civilavmed.com/how-did-construction-dives-mini-mega-cities-evolve-during-the-pandemic/#respond Mon, 19 Apr 2021 14:33:31 +0000 https://civilavmed.com/how-did-construction-dives-mini-mega-cities-evolve-during-the-pandemic/ In February of last year, Construction Dive reported five “mini-mega-cities” experiencing commercial construction booms. These cities, mostly in the Midwest, were benefiting from an influx of construction work, driven by booming labor markets and low cost of living. Then the COVID-19 pandemic struck, shutting down entire industries like hospitality and aviation and forcing people to […]]]>


In February of last year, Construction Dive reported five “mini-mega-cities” experiencing commercial construction booms. These cities, mostly in the Midwest, were benefiting from an influx of construction work, driven by booming labor markets and low cost of living.

Then the COVID-19 pandemic struck, shutting down entire industries like hospitality and aviation and forcing people to stay at home in order to help slow the spread of the novel coronavirus. Fortunately, most states and local jurisdictions have declared construction an essential service, so many contractors were able to work under the strictest of lockdowns, but some homeowners and developers halted their building plans. or canceled them completely.

Now that the United States is more than a year after the start of the COVID-19 epidemic, what has happened to construction activity in mini-megacities? Are they still booming?

The good news is that it looks like COVID-19 can’t dampen enthusiasm for these cities or what made them booming cities in the first place. Here’s where they stand today:

Cedar Rapids, Iowa

Cedar Rapids Metropolitan Economic Alliance

Cedar Rapids and its surrounding communities are used to facing – and overcoming – challenges. Floods that damage property have always been a problem there. In fact, according to the city of Cedar Rapids, the historic floods and tornadoes in 2008 cost the Federal Emergency Management Agency $ 848 million, the sixth largest statement ever made by the agency. The total property damage was estimated at $ 6 billion.

“As a community, we believe that if we can recover from the 2008 floods, we can meet any challenge,” said Ron Corbett, Retention and Business Expansion Strategist at Cedar Rapids Metro. Economic Alliance. “And this is the spirit that reigns in the community and, of course, in the business community and the citizens.”

Cedar Rapids’ recovery from the COVID-19 pandemic, he said, was made easier because the state was not as restrictive as others during the pandemic when it came to shutting down some sectors, so it took relatively less time to rebound.

And companies have occupied the construction industry there as they continue to invest their dollars in capital projects – $ 539 million in 2020. That includes the “home run,” said Corbett, of the BAE Systems’ $ 139 million aerospace research, development and manufacturing facility.

“We feel like we are almost back to where we were,” he said.

Columbus, Ohio

Wikimedia Commons

The construction industry in the Ohio capital has seen its share of ups and downs since the pandemic struck, said Barton Hacker, president and CEO of the Associated Builders and Contractors Central Ohio Chapter.

From March to about August of last year, contractors, who are part of an industry declared essential in Ohio, were busy “burning” the region’s considerable backlog, he said. In August, however, homeowners and developers began to put some projects on hold, leading to a slowdown in construction activity and concerns about the future for many contractors.

Ironically, the high level of activity for most of 2020 made many entrepreneurs, who believed they would need financial assistance to get through 2021, ineligible for the second round of Payroll Protection Program loans. which required proof of a 25% drop in income.

However, fast forward to March, Hacker said, and many projects that were on hold have restarted, and contractors are once again as busy as ever, except for some slowdowns in certain industries such as school projects. and publicly funded hotels.

The big question, he said, is how the office building will go. Columbus is home to large companies like Chase Mortgage who have decided to keep some employees working remotely, which has reduced their need for construction space.

But the constant flow of new residents to Columbus, which the pandemic hasn’t stopped, has created major demand on the residential side, including high-rise condominiums.

“Things are going pretty well in Columbus,” Hacker said.

Nashville, Tennessee

Rick Diamond via Getty Images

Nashville is another city with a thriving construction industry despite the pandemic. The city issued $ 4.4 billion in building permits between March 21, 2020 and March 20, 2021, according to records from the Nashville Department of Building Codes and Safety. This is an increase of over $ 400 million from the same period between 2019 and 2020.

While residential construction accounted for almost half of those numbers, the rest represented a wide variety of new commercial projects, whether new construction or renovations.

Plus, tourism hasn’t slowed down in Music City, said Clay Crownover, president and CEO of the Greater Tennessee Builders and Associate Contractors Section, and new residents are moving en masse to Nashville, in part in due to relatively low taxes and corporate jobs. .

“There were a few stops, but [those projects] were back and driving pretty quickly, ”he said.

What continues to be a challenge, however, is finding enough skilled workers, Crownover said. To this end, its ABC section is expanding its apprenticeship program so that it can train more workers. The chapter is about to graduate 96 students, had over 425 enrolled this year, and wants to grow to support 625.

“Hopefully we will bring more guys and girls into our system so that we can train them and hire them,” he said.

Omaha, Nebraska

Retrieved from Wikipedia on April 19, 2021

Omaha, said Jean Petsch, executive director of the Associated General Contractors of America’s Nebraska Building Chapter, was another city that took a construction hiatus near the start of the pandemic but returned to normal activity shortly. afterwards, mainly due to a governor limiting the restrictions. and closures and construction designated as an essential service.

And like in other cities where construction was deemed essential, there was a brief hiatus as contractors figured out how to keep workers safe while still moving forward with their jobs, Petsch said.

Other than that, there have been no real changes in construction activity, she said.

“We don’t have big highs, but the flip side is we don’t have big lows either,” Petsch said.

And with everything that comes with being a booming construction city comes the necessary maintenance, repairs and expansion of roads, highways and bridges, said Katie Wilson, general manager. of the AGC Nebraska Chapter, whose members do this horizontal work.

The projects are fairly well funded but should be boosted by the American Rescue Plan Act, she said.

Wilson did not comment on the exact amount that would be used for the state’s DOT projects, but told Construction Dive that the state’s DOT has said some will go towards the preservation and maintenance of the state. infrastructure. Each US state is expected to receive $ 100 million and can use the money for construction projects or other initiatives deemed necessary.

One problem Omaha has – one it shares with many other cities across the country – is the lack of material availability.

“[It’s] biggest headache of the past year, ”Wilson said.

Rochester, Minnesota

Perkins Eastman

When it comes to the pandemic recovery, it doesn’t hurt to have one of the most recognized and respected names in the healthcare industry – the Mayo Clinic – as the engine of economic activity. In fact, according to Patrick Seeb, executive director of the Economic Development Agency of Destination Medical Center, Mayo employs more than 30% of Rochester’s 110,000 residents. Project DMC is a 20-year initiative that will see Mayo, private developers, and the state of Minnesota invest billions in creating a global healthcare destination.

When the pandemic first struck, however, there was a lot of uncertainty about what this would mean for the city as Mayo canceled elective surgeries and treatments in order to prepare for a possible ‘attack’ on COVID patients. -19, he said.

“The Mayo Clinic had to prepare for the unknown in terms of the COVID cases and the impact the coronavirus would have on treatment protocols,” Seeb said.

This resulted in a three to four month hiatus of about 100 construction projects totaling $ 150 million, he said. But by June, it was clear the number of inpatients wouldn’t be as high as originally feared, so Mayo resumed elective procedures and construction projects restarted.

Seeb credits Mayo’s deep cutbacks at the start of the pandemic as one of the reasons the healthcare system was able to resume its construction program so quickly, and he doesn’t expect any significant delays as these projects roll out. continue.

In fact, general contractor and developer Mortenson launched his second major project in DMC in September, and private investment in DMC last month topped $ 1 billion.

“I would say in Rochester, what people have realized is that our economy is so strong, despite a pandemic, because the Mayo Clinic is the engine,” Seeb said.



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Global Aircraft Microturbine Engines Market Expected to Grow at a CAGR of 9.5% and Generate $ 125.2 Million by 2029 – Exclusive Pre and Post COVID-19 Impact Analysis Report by Research Dive https://civilavmed.com/global-aircraft-microturbine-engines-market-expected-to-grow-at-a-cagr-of-9-5-and-generate-125-2-million-by-2029-exclusive-pre-and-post-covid-19-impact-analysis-report-by-research-dive/ https://civilavmed.com/global-aircraft-microturbine-engines-market-expected-to-grow-at-a-cagr-of-9-5-and-generate-125-2-million-by-2029-exclusive-pre-and-post-covid-19-impact-analysis-report-by-research-dive/#respond Mon, 19 Apr 2021 14:00:00 +0000 https://civilavmed.com/global-aircraft-microturbine-engines-market-expected-to-grow-at-a-cagr-of-9-5-and-generate-125-2-million-by-2029-exclusive-pre-and-post-covid-19-impact-analysis-report-by-research-dive/ New York, United States, April 19, 2021 (GLOBE NEWSWIRE) – The aircraft microturbine engine industry is likely to see a decline in growth rate due to the COVID-19 pandemic. According to a report published by Research Dive, the global aircraft microturbine engine market should exceed $ 125.2 million during the forecast period of 2022 to […]]]>


New York, United States, April 19, 2021 (GLOBE NEWSWIRE) – The aircraft microturbine engine industry is likely to see a decline in growth rate due to the COVID-19 pandemic. According to a report published by Research Dive, the global aircraft microturbine engine market should exceed $ 125.2 million during the forecast period of 2022 to 2029. A detailed analysis of the drivers, restraints, lucrative growth opportunities, challenges, key segments and strategic movements of market players is offered in the report in order to better capture the effect of the Covid-19 pandemic on the global market.

Download Free Sample Report on Global Aircraft Microturbine Engines Market: https://www.researchdive.com/download-sample/192

Highlights of the report

• The estimated aircraft microturbine engine market CAGR before the COVID-19 pandemic was 10.3% during the forecast period.

• The global industry CAGR after the pandemic crisis is expected to be 9.5% by 2029.

According to the report, the global aircraft microturbine engine market is expected to recover by Q3 / Q4 of 2022 and experience impressive growth during the forecast period.

• In 2020, the predicted market size of the Aircraft Microturbine Engine industry prior to the COVID-19 pandemic was $ 73.1 million.

• Due to the COVID-19 pandemic, the market size of the global industry is expected to exceed $ 40.2 million in 2020.

Learn about the impact of COVID-19 on the global aircraft microturbine engine market. Click here to connect with our analyst for more market insight: https://www.researchdive.com/connect-to-analyst/192

Main characteristics of the market

According to our analysts, aircraft manufacturers and aircraft manufacturers are facing cash shortages, supply chain disruptions and production challenges during the Covid-19 pandemic, which is negatively impacting the world market for aircraft microturbines. However, the government of various countries is taking initiatives to support companies operating in the aerospace and defense industry. For example, in March 2020, the United States government signed the CARES Act (Coronavirus Aid, Relief, and Economic Security Act), to provide $ 61.0 billion in subsidies for tax relief. excise and loans for the aviation industry. This is expected to propel the growth of the global market during the forecast period. In addition, it is believed that ensuring adequate liquidity for key companies and suppliers and deploying a highly skilled workforce would help the market to sustain itself during the COVID-19 crisis.

View all aerospace and defense industry reports: https://www.researchdive.com/aerospace-and-defence

Key industry players

1. UAV Turbines, Inc.
2. Rolls-Royce plc
3. Honeywell International Inc
4. Kratos Defense & Security Solutions, Inc.
5. AeroDesignWorks GmbH
6. Elliott Group
7. JetsMunt SL
8. AMT Netherlands BV
9. GE
10. PBS Group.

Access varied market reports carrying in-depth analysis of the market situation, updated with the impact of COVID-19: https://www.researchdive.com/covid-19-insights

Post-pandemic market landscape

The increasing technological advancements and developments of the aircraft microturbine engine are expected to drive the growth of the global market during the forecast period. Additionally, strategies adopted by major industry players such as product launches and strategic collaborations are expected to drive market growth after the COVID-19 pandemic.

For example, in May 2019, UAV Turbines, Inc., a pioneer in microturbine technology, launched the “ Monarch RP ” family of microturbine engines, which are the first engines to provide commercial and defense partners with systems silent, reliable and powerful propulsion. . The company focused on creating the world’s first lightweight, high-performance and reliable microturbine engine for small, heavy-fueled aircraft.

The report summarizes various aspects of all these important players including business performance, product portfolio, recent developments and strategic moves and SWOT analysis. Click Here For The Absolute Best Business Development Strategies Summary Report

TREND RELATIONSHIPS WITH COVID-19 IMPACT ASSESSMENT

1. UAV drone market: https://www.researchdive.com/8348/unmanned-aerial-vehicle-uav-drones-market

2. Airborne Sensors Market: https://www.researchdive.com/8351/airborne-sensor-market

3. Aircraft Microturbine Engines Market: https://www.researchdive.com/covid-19-insights/192/aircraft-microturbine-engine-market

4. Autonomous Underwater Vehicle (AUV) Market: https://www.researchdive.com/259/autonomous-underwater-vehicle-auv-market

5. High Altitude Platforms Market: https://www.researchdive.com/291/high-altitude-platforms-market

        



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Warburg Pincus launches Aquila Air Capital https://civilavmed.com/warburg-pincus-launches-aquila-air-capital/ https://civilavmed.com/warburg-pincus-launches-aquila-air-capital/#respond Mon, 19 Apr 2021 13:00:00 +0000 https://civilavmed.com/warburg-pincus-launches-aquila-air-capital/ NEW YORK, April 19, 2021 / PRNewswire / – Warburg Pincus, a leading global private equity firm focused on growth investments, today announced the creation of Aquila Air Capital, a specialty finance platform focused on commercial aerospace, in partnership with a veteran of the aerospace industry Al wood and the investment firm Kepler Hill Capital. […]]]>


NEW YORK, April 19, 2021 / PRNewswire / – Warburg Pincus, a leading global private equity firm focused on growth investments, today announced the creation of Aquila Air Capital, a specialty finance platform focused on commercial aerospace, in partnership with a veteran of the aerospace industry Al wood and the investment firm Kepler Hill Capital.

Aquila Air Capital will have a broad mandate to purchase, finance and lease aircraft, engines and other aeronautical equipment. The company’s vision is to become a trusted partner for all players in the value chain, from asset buyers and sellers to operators who need creative and timely solutions for their critical business needs.

Al wood joins Warburg Pincus as an Executive in Residence to identify and assess investment opportunities related to the broader aerospace and defense industry and to help build Aquila Air Capital. Al wood most recently served as CFO of Boeing Commercial Services, a $ 9 billion business unit where he focused on increasing return on invested capital, streamlining the product and service portfolio and reducing working capital requirements. Previously, he was responsible for mergers and acquisitions at Boeing Global Services and was the commercial director of AeroTurbine Inc, which is part of AerCap Inc., the largest lessor of commercial aircraft.

“There is a significant market opportunity to create a leading specialty finance franchise in commercial aerospace. By combining our expertise in special situations and specialist finance with our long history in aerospace, Aquila Air Capital is well positioned to build a scale and diverse platform, “mentioned Eric Friedman, Managing Director, Warburg Pincus. “We have a long history with Al and Kepler Hill Capital, both of whom have strong backgrounds in creating value in the industry. As a long-term investor in aerospace companies, we are excited about our partnership to create a new market leader. in the financing of aerospace specialties, ”added Dan Zamlong, Managing Director of Warburg Pincus.

“Aquila Air Capital seeks to capitalize on the current dislocation of the aerospace industry by leveraging the global expertise and resources of Warburg Pincus,” said Keith whittaker, Managing Partner of Kepler Hill Capital and Senior Advisor to Warburg Pincus. “The company uniquely combines the expertise customers value, including the acquisition of aircraft and engines, with dedicated technical, sales and rental support.”

“We are in a unique environment where the aerospace industry is experiencing protracted recovery prospects and high levels of cash consumption, leaving the industry’s liquidity and capital constrained. These market prospects provide an excellent opportunity to build a leading specialty finance franchise. With the support of Warburg Pincus, a leading investor in the aerospace and defense industry as well as the specialist finance sector, we believe that Aquila Air Capital will become an important partner for passenger and freight operators and the MRO community supporting their aircraft, ”said Al wood.

Warburg Pincus is one of the most active and successful private equity investors in the aerospace and defense industries. The company has invested more $ 3 billion in multiple aerospace and defense platforms spanning multiple areas of the value chain, including Accelya, Camp Systems, CPP, Extant Aerospace, Inmarsat, Quest Global Services, TransDigm and Wencor Group. As a leader in the financial services industry, the company has invested more than $ 11 billion across the spectrum of financial services, including a significant focus on specialty finance over the past decade. Notable specialist financial investments include Ascentium Capital, AU Financiers, Cango, LendingPoint, Mariner Finance, Max, Mosaic, Santander Consumer United Statesand Triton.

About Aquila Air Capital

Aquila Air Capital is a specialized financing platform focused on asset financing in partnership with industry players as well as on the purchase and lease of airplanes, engines and other aeronautical equipment. Led by a management team with over 25 years of experience in the aerospace industry, Aquila Air Capital is a trusted partner for all players in the value chain, from buyers and sellers of assets to operators in need of creative and timely solutions for their critical needs. business needs. Aquila Air Capital is backed by Warburg Pincus, a leading global private equity firm specializing in growth investing and Kepler Hill Capital, a special situations private equity firm whose executives have invested and built three previous aviation platforms. For more information, please visit www.aquilaaircapital.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth-oriented investment. The company has more than $ 60 billion in private equity assets under management. The company’s active portfolio of more than 200 companies is highly diversified by stage, industry and geography. Warburg Pincus is an experienced partner of leadership teams looking to build sustainable businesses with enduring value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $ 90 billion in more than 930 companies in more than 40 countries. The company is headquartered at new York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Bombay, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com.

About Kepler Hill Capital

Kepler Hill Capital is a private equity investment firm focused on specific situations, including asset platforms, turnarounds and structured equity investments. Kepler Hill and its executives invested in and built three earlier aviation platforms.

Media contact:

Sarah McGrath Bloom
Associate Director, Communications, Warburg Pincus
[email protected]

SOURCE Warburg Pincus

Related links

http://www.warburgpincus.com



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Sh11bn KQ domestic loan agreement with government https://civilavmed.com/sh11bn-kq-domestic-loan-agreement-with-government/ https://civilavmed.com/sh11bn-kq-domestic-loan-agreement-with-government/#respond Mon, 19 Apr 2021 03:31:40 +0000 https://civilavmed.com/sh11bn-kq-domestic-loan-agreement-with-government/ Companies Sh11bn KQ domestic loan agreement with government Monday, April 19, 2021 A Kenya Airways plane grounded at Nairobi’s Jomo Kenyatta International Airport on April 3, 2020. By BONFACE OTIENOMore from this author summary The airline took the debt in two installments of 5 billion shillings followed by 6 billion shillings. The 5 billion shillings […]]]>


Companies

Sh11bn KQ domestic loan agreement with government


A Kenya Airways plane grounded at Nairobi’s Jomo Kenyatta International Airport on April 3, 2020.

summary

  • The airline took the debt in two installments of 5 billion shillings followed by 6 billion shillings.
  • The 5 billion shillings loan has a concessional interest rate of three percent per annum – less than a quarter of the rate charged by commercial banks – and matures in five years.
  • The carrier will pay interest of 150 million shillings per year on the loan or a total of 750 million shillings over five years.

Kenya Airways #ticker: KQ revealed the terms of an 11 billion shillings loan it took from the government in the year ended in December to fund its operations at a time of the Covid-19 pandemic had hurt its cash flow.

The airline took the debt in two installments of 5 billion shillings followed by 6 billion shillings.

The 5 billion shillings loan has a concessional interest rate of three percent per annum – less than a quarter of the rate charged by commercial banks – and matures in five years.

The carrier will pay interest of 150 million shillings per year on the loan or a total of 750 million shillings over five years. Principal repayment is expected at the end of the five years.

A loan of a similar size would cost 650 million shillings per year, or a total of 3.2 billion shillings in five years, based on the 13% interest rate currently charged by most commercial banks.

“The first loan of 5 billion shillings was aimed at facilitating engine overhauls in the E-190 aircraft fleet due in 2020,” the national carrier said in its latest annual report.

“As part of the government’s commitments to support the resumption of airline operations following the impact of the Covid-19 pandemic, a second loan of 6 billion shillings was advanced in the year and its terms should still to be finalized. “

The government was the only entity to provide new loans to the company during the review period, testifying to the critical role the state played in keeping the airline alive.

KQ, as the airline is known by its international code, previously borrowed heavily from international financiers and almost all of the country’s major banks, including KCB Group and Equity Group.

The airline, however, has defaulted on local lenders who now only maintain a revolving credit facility they agreed to with the company earlier as part of their restructuring of their combined $ 17 billion unsecured loans. shillings in 2017.

International lenders like JP Morgan and Citibank guaranteed their loans using the plane the company bought.

The heavy losses and declining revenues caused the company to violate conditions set by global financiers, highlighting the airline’s over-indebtedness.

“As of December 31, 2020, the group was not in compliance with one of the financial covenants being the unrestricted cash-to-revenue ratio,” KQ said in the report.

“The group and the company, however, obtained waivers from the financiers before the end of the year and, as such, the group and the company had a contractual right to defer payment by at least 12 months at the end of the reporting period. “

The ratio measures a company’s ability to generate cash from its operations and is ideal for assessing the financial health of businesses such as airlines that do not offer sales on credit.

Without the exemption, some 73.6 billion shillings in long-term loans would have been reclassified as payable within a year, plunging the airline into an existential crisis.

Government financial support for KQ is expected to continue in the years to come, when the state becomes the sole shareholder in the company. The National Treasury, which has a 48.9% stake in the carrier, has abandoned plans to buy out minority shareholders at a price that has not yet been disclosed.

KQ, whose shares were suspended from trading on the Nairobi Stock Exchange until December, last traded at a price of Sh3.83 each.

The government plans to merge the airline and the Kenya Airports Authority (KAA) – the manager of the airports – under a holding company called the Kenya Aviation Corporation.

Under common ownership and control, it is believed that subsidiaries will be on a more solid financial footing by sharing resources and jointly developing the country’s aviation sector.

KQ has suffered losses over the years, wiping out shareholder funds and leaving it to depend on government bailouts for its survival.

The airline’s chief executive, Allan Kilavuka, recently said the company would need at least $ 500 million (54.87 billion shillings) in bailouts over the next nine months to navigate the turbulent business of aviation after collapse in demand for air travel amid economic fallout from Covid-19.

Without state aid, Mr Kilavuka warned that the airline could run out of money in the near future, with banks increasingly reluctant to lend to African carriers struggling with depressed incomes due to coronavirus-related disturbances.

KQ reported a record net loss of 36.2 billion shillings in the year ended December, topping it by 12.9 billion shillings the year before, with costs far exceeding revenues.

The performance, which the national carrier said was exacerbated by the grounding of its planes between April and July last year, also extended its negative equity to 64.1 billion shillings from 17.8 billion shillings. shillings.

It further exposed lenders to significant losses as shareholder funds were wiped out, leaving the airline to rely on government guarantees and bailouts to protect the interests of some of its major creditors, including international financial institutions. .

Total income fell 58.8% to 52.8 billion shillings, evidence of the disruption suffered by the aviation industry during the Covid-19 pandemic that hit the country in mid-March 2020.



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Boeing says funding is available to support aircraft deliveries https://civilavmed.com/boeing-says-funding-is-available-to-support-aircraft-deliveries/ https://civilavmed.com/boeing-says-funding-is-available-to-support-aircraft-deliveries/#respond Wed, 14 Apr 2021 07:00:00 +0000 https://civilavmed.com/boeing-says-funding-is-available-to-support-aircraft-deliveries/ Boeing Co (BA.N) on Wednesday expressed optimism about funding jet buyers to support deliveries as the industry considers an air transport recovery, while raising an orange flag over airlines’ access to air transport. commercial bank loans. Industry-wide financing needs to support deliveries have fallen by around 40% to $ 59 billion in 2020, with the […]]]>


Boeing Co (BA.N) on Wednesday expressed optimism about funding jet buyers to support deliveries as the industry considers an air transport recovery, while raising an orange flag over airlines’ access to air transport. commercial bank loans.

Industry-wide financing needs to support deliveries have fallen by around 40% to $ 59 billion in 2020, with the pandemic stifling production already weakened by the Boeing 737 MAX grounding in 2019.

“Despite the unprecedented impacts of COVID-19 on the global aerospace industry, there is generally still liquidity in the market for our customers,” said Tim Myers, president of Boeing Capital, the aircraft manufacturer’s finance arm.

“We expect it to improve further as travel starts to rebound.

Aviation has emerged as a fast-growing alternative asset class over the past decade, as investors have turned to dollar-denominated investments that offer relatively high returns, particularly against a rate environment. low interest.

As the pandemic swept the industry just over a year ago, credit spreads widened, financial markets closed to aviation and banks retreated, Boeing said in a report on the aviation financing.

But “the financial markets have returned and new sources of funding from institutional investors and funds have come into the market,” he added.

A lingering concern is the availability of commercial bank financing, which typically accounts for around one-third of the financing needed to support aircraft deliveries.

Commercial lending has gained ground since 2020 but remains on Boeing’s watchlist with certain tax-related instruments. But for now, the capital of investment funds is filling the void.

“We anticipate that capital will continue to flow to the industry from established players and that new entrants will seek opportunities as the industry recovers,” Myers said.

Our Standards: Thomson Reuters Trust Principles.



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