25 May 2020
North America Newsletter 25 May
AEI to provide AerCaribe with Boeing 737-400SF Freighter Conversion
Aeronautical Engineers, Inc. (AEI) announced it has signed a contract to provide Columbian-based AerCaribe S.A. with a Boeing 737-400SF freighter conversion. The aircraft (MSN 24130) is onsite and will commence modification today. All modification touch labor will be performed by Commercial Jet at their Dothan, Alabama facility. This freighter conversion represents the second AEI freighter for AerCaribe.
Aviation Capital Group Announces the Closing of a $650 Million Secured Funding Facility
Aviation Capital Group LLC (ACG) announced the closing of a $650 million secured funding facility in support of its growing Aircraft Financing Solutions (AFS) business. The facility was structured by Crédit Agricole and includes an accordion option which can be exercised to provide up to $1 billion in total commitments. The initial $650 million commitment was provided by a syndicate of the company’s relationship banks including Crédit Agricole, Société Générale, BNP Paribas, Commerzbank, Caixa Bank, and Crédit Industriel et Commercial Bank. “ACG is delighted to have partnered with our relationship banks to deliver this funding warehouse in support of our AFS program,” said Madhu Vijay, Executive Vice President and Chief Financial Officer of ACG. “The closing of this warehouse is one more example of how ACG continues to support the OEMs and our leasing customers by moving the ball forward in innovative ways to help finance the industry.”
Vx Capital Partners Appoints Bashir Agah as General Counsel
Vx Capital Partners (Vx) announced the company has recently promoted Bashir Agah to General Counsel. Agah will oversee and hold responsibility for all Vx Capital’s legal affairs. “Since joining Vx as Corporate Counsel in 2013, Bashir has consistently demonstrated his legal acumen and interpersonal leadership,” said Will Hudson, Vx President. “We are fortunate to have an attorney with Bashir’s skill in representing Vx as we continue to grow and develop our fund management platform.” Agah stated, “I am delighted for this opportunity to serve Vx in a more strategic role, and grateful to Bob and Will for their continued faith in me. The Vx team has built a successful platform, and I look forward to supporting our future endeavors and expansion.”
Worldwide Aircraft Services / SAAB AB receives Certification for SAAB 340B MTOW Increase
Worldwide Aircraft Services of Springfield Missouri working with Saab AB through a jointly signed License Agreement has secured the exclusive rights to the sale of the new Service Bulletin to increase the Maximum Design Take-Off Weight (MTOW) for the Saab 340B aircraft to 30,000 lb (13605 kg). The Saab MTOW Service Bulletin Kit that has now been approved by FAA and EASA will further improve the operational flexibility of the Saab 340B aircraft (with SB SAAB 340-51-10 compliance) by increasing the operational weight 1,000 lb (454 kg). This modification will offer all operators of the 340B model aircraft increased profitability through maximizing payload, increasing range and limiting high-cost remote fuel requirement.
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