11 May 2020

North America Newsletter 11 May

Atlas Air and Southern Air Provide Interim Pay Increase for Pilots in Agreement with International Brotherhood of Teamsters Atlas Air announced that its wholly-owned subsidiaries Atlas Air, Inc. and Southern Air, Inc. have reached an agreement with International Brotherhood of Teamsters (IBT) Locals 2750 and 1224 for an interim pay increase for their pilots.  The ten percent pay increase is effective as of 1^st May. “We wanted to provide this interim increase to our pilots who are working so hard during this difficult time.  Reaching this agreement with our IBT Locals underscores our deep appreciation of the efforts of our pilots,” said John W. Dietrich, President and Chief Executive Officer, Atlas Air Worldwide.  “While we continue to manage through this current pandemic situation, we also remain focused on completing the joint collective bargaining agreement we have been pursuing in connection with the merger between Atlas Air and Southern Air.” Aviation Partners Names Gary Dunn President Aviation Partners has appointed Gary Dunn to the position of president, effective immediately . Dunn has served the company for more than two decades. He has been interim president since the unexpected passing on March 30, of company founder and aviation legend Joe Clark. Commercial Jet Successfully Delivers a CRJ200 SF Freighter Commercial Jet announced the company has successfully delivered another 8-pallet CRJ200 SF freighter conversion. The freighter modification and maintenance requirements were performed at the company’s Dothan, Alabama facility. The modification included the cutout and installation of a large cargo door, installation of a 9g rigid cargo barrier and Ancra cargo loading system. This aircraft represents the 13th CRJ200 SF completed and delivered by Commercial Jet. Delta and LATAM sign trans-American Joint Venture Agreement Delta Air Lines and LATAM Airlines Group and its affiliates have signed a trans-American Joint Venture Agreement that, once regulatory approvals where required are granted, will combine the carriers route networks between North and South America. “Late last year, we set out to build the leading strategic alliance in Latin America together with LATAM, and while the industry landscape has changed, our commitment to this joint venture is as strong as ever,” said Delta CEO Ed Bastian. “Even as our carriers contend with the impact of COVID-19 on our business and take steps to protect the safety of our customers and employees, we are also building the airline alliance we know they’ll want to fly in the future.” Mitsubishi Heavy Industries Ltd. and Bombardier Inc. have agreed on a June 1, 2020 closing date for the transaction pertaining to the acquisition of Canadair Regional Jet Program Mitsubishi Heavy Industries and Bombardier have agreed that all closing conditions have been met and the transaction pertaining to the acquisition of Canadair Regional Jet (CRJ) Program will close on 1^st June. The Program will be operated under the newly created group entities of MHI RJ Aviation Group (MHIRJ) and will commence upon closing. As part of the acquisition, MHI acquires the maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft, along with the type certificates. This includes the CRJ related services and support network mainly located in Mirabel, Québec, and Toronto, Ontario in Canada, Bridgeport, West Virginia, and Tucson, Arizona in the United States. CRJ Spare parts will continue to be distributed from depots in Chicago, Illinois and Frankfurt, Germany. Complementary to MHI's existing commercial aircraft business, MHIRJ will provide a holistic servicing and support solution for the global aircraft industry including the CRJ Series aircraft, and eventually, for the Mitsubishi SpaceJet family of next-generation regional jets. Spirit Airlines Announces Offerings Of Common Stock And Convertible Senior Notes Due 2025 Spirit Airlines announced it has priced its underwritten public offering of 17,500,000 shares of its common stock at a public offering price of $10.00 per share (the “Common Stock Offering”) and its underwritten public offering of $175,000,000 aggregate principal amount of 4.75% convertible senior notes due 2025. Spirit expects to use the net proceeds from the Common Stock Offering and the Convertible Notes Offering for general corporate purposes. Acumen Aviation © 11 May 2020 All Rights Reserved.