12 Oct 2020

North American Newsletter 12 October

Air Canada Completes Aircraft Sale and Leaseback Transactions Air Canada announced that it recently completed sale and leaseback transactions for three Boeing 737 MAX 8 aircraft with Jackson Square Aviation and six Boeing 737 MAX 8 aircraft with Avolon Aerospace Leasing Limited for total proceeds of US$365 million (C$485 million) and long-term lease commitments of US$345 million (C$458 million). The nine aircraft were delivered to Air Canada over the past three years. Air Canada and Transat A.T. Inc. Conclude Amended Transaction for Combination of the Two Companies Air Canada announced that it has concluded an amended transaction with Transat A.T. Inc. that provides for Air Canada to acquire all the issued and outstanding shares of Transat and for its combination with Air Canada. Under the binding agreement, unanimously approved by the Board of Directors of Transat, Air Canada will acquire all shares of Transat for $5.00 per share, payable at the option of Transat shareholders in cash or shares of Air Canada at a fixed exchange ratio of 0.2862 Air Canada share for each Transat share (representing a price for the Air Canada shares of $17.47). The value of the transaction is approximately $190 million. American Airlines Plans Move to Beijing Daxing International Airport in March 2021 American Airlines is moving flights to the biggest airport in the world: the new Beijing Daxing International Airport (PKX) when service returns from Dallas-Fort Worth (DFW) on 27th March 2021. American’s Chief Revenue Officer Vasu Raja said “Moving to Daxing International Airport in Beijing when flights return in March is going to offer our customers access to a state-of-the-art airport, with ease of connections as we plan to codeshare with our strategic partner, China Southern.” First Flight - Precision Conversions A321-200PC Freighter 321 Precision Conversions, a joint venture between Aircraft Transport Services Group (ATSG) and Precision Aircraft Solutions (PAS) announced completion of the first post-conversion flight of the firm’s A321-200PCF freighter. 321 Precision Conversions President Gary Warner confirmed the event, stating “This milestone flight was nominal in all respects, with all primary and secondary systems- including the cargo door and supporting sub-systems, functioning perfectly as designed.” Héroux-Devtek Inks Major Multi-Year Supply Agreement with Boeing for The Manufacture of Several Actuation Components Héroux-Devtek Inc announced that its CESA subsidiary in Spain has been awarded a major multi-year contract by The Boeing Company to manufacture new actuation components for several commercial aircraft platforms. The contract scope will include the supply of production requirements and spare parts for the 787, 777, 777X, 767 (including the Tanker version), and 747. Mesa Air Group Operates First Revenue Cargo Flight For DHL Express Mesa Air Group operated its first revenue cargo flight for DHL Express from its crew and maintenance base at Cincinnati/Northern Kentucky International Airport. Mesa Airlines is the first regional airline to operate narrow-body aircraft like the Boeing 737. The company is currently completing the introduction of the Boeing 737 into the Mesa aircraft fleet. Under the previously announced agreement, Mesa will operate two Boeing 737-400F aircraft on behalf of DHL for a five-year term. Acumen Aviation © 12 October 2020 All Rights Reserved.