27 May 2019

North America Newsletter 27 May

Air Lease Corporation Announces Delivery of New Airbus A350-900 Aircraft to Sichuan Airlines Air Lease Corporation announced 21^st May the delivery of one new Airbus A350-900 aircraft on long-term lease to Sichuan Airlines. Featuring Trent XWB-84 engines, this A350-900 is the first ALC A350-900 to deliver to an airline in China. The aircraft is from ALC’s order book with Airbus. Aircastle Announces Increase in Authorization to Repurchase Shares and Appointments to Board of Directors Aircastle announced 21^st May that the Company's Board of Directors increased the authorization to repurchase up to $100 million of the Company's common shares, from the $76 million that was remaining under the existing authorization. The amount and timing of the purchases will depend on a number of factors, including the price and availability of the Company's common shares, trading volume and general market conditions. The Company also announced the election by shareholders of Jun Horie to the Board and the appointment of Takashi Kurihara to the Board. Mr. Horie is the President and CEO of Marubeni America Corporation and replaces Hajime Kawamura, who did not stand for reelection. Boeing Completes Max Software Update Boeing has completed development of the updated software for the 737 Max along with associated simulator testing and its engineering test flight. The U.S. airframer said it has flown the 737 Max with updated maneuvering characteristics augmentation system (MCAS) software for more than 360 hours on 207 flights. The company added that it has begun providing additional information to address FAA requests that include detail on how pilots interact with the airplane controls and displays in different flight scenarios. Once it addresses the request, Boeing will work with the FAA to schedule its certification test flight and submit final certification documentation, it said. Cardiff Aviation Secures FAA Repair Station Approval The Federal Aviation Authority has issued Cardiff Aviation with approval to act as a Part-145 Air Repair Station. The MRO will now be permitted to provide airframe and powerplant repairs on aircraft used by operators regulated by the US national aviation authority. Chorus Aviation Announces Leasing Transaction for Five Q400s to Flybe and Reaches 50 Aircraft Portfolio Milestone Chorus Aviation announced 21^st May that Chorus Aviation Capital has entered into a purchase agreement to acquire five, mid-life Bombardier Q400 aircraft currently on lease with Europe's largest independent regional airline, Flybe. This transaction is expected to close by this summer and is subject to customary conditions precedent to closing, such as the novation of the existing leases, as well as the receipt of all regulatory approvals or consents required in connection with the acquisition of Flybe by Connect Airways Limited. Delta Airlines takes delivery of first Airbus A330neo Delta Air Lines has taken delivery of its first A330-900 of 35 on order. The carrier will initially base the aircraft at Seattle-Tacoma International Airport, where they will be used on flights to Shanghai, Seoul and Tokyo Narita. Southwest Airlines' Mechanics Approve New Contract Southwest Airlines announced 21^st May the Company's Mechanics and Related Employees, represented by the Aircraft Mechanics Fraternal Association (AMFA), have voted to ratify a new tentative agreement. Universal Asset Management Acquires Airbus 330-200 Universal Asset Management, Inc. (UAM) has acquired an Airbus A330-200 (MSN 305) for disassembly and component support. Previously operated by TAP Air Portugal, the aircraft will be disassembled to support UAM’s global aviation customer base. Acumen Aviation © 27 May 2019 All Rights Reserved.