13 Aug 2018
USA Aviation Industry Newsletter 13 August
Air Lease Corporation Initiates Portfolio Sale of 18 Aircraft to Thunderbolt II Aircraft Lease Limited
Air Lease Corporation announced 6 August that the Company initiated the sale of a portfolio of 18 aircraft to Thunderbolt II Aircraft Lease Limited a newly formed entity. The aircraft comprise a mix of narrowbody and widebody jet aircraft that, as of April 30, 2018, had an average age of 8.0 years and were leased to 16 lessees based in 15 countries. Air Lease Corporation and its Irish affiliate, ALC Aircraft Limited, will act as servicers and portfolio manager with respect to the aircraft. ALC estimates that the process of transfer and sale of the majority of aircraft will occur progressively during Q3 and Q4 2018.
Atlas Air Worldwide Confirms Ratification of Interim Agreement With Southern Air Pilots
Atlas Air Worldwide Holdings, Inc announced 9 August said that pilots employed by its Southern Air, Inc. subsidiary have ratified an agreement between Southern Air and Local 1224 of the International Brotherhood of Teamsters (IBT) for interim enhancements to the collective bargaining agreement between the parties. The interim agreement increases pay rates for Southern Air pilots to the same wage scales as provided to pilots of Atlas Air, Inc. It also provides for a ratification bonus and other terms and conditions that are comparable to those provided to their colleagues at Atlas Air.
Uzbekistan Airways received the third Boeing 787-8 “Dreamliner” aircraft
The fleet of “Uzbekistan Airways” was replenished with another aircraft of new generation – Boeing 787-8 “Dreamliner. This is the third aircraft of this type in the airline's fleet. New aircraft differs from the previous two “Boeing 787-8 Dreamliner” which is operated by the NAC with the increased number of seats for passengers and performed a special compartment for the rest of the crew.
C&L Aerospace Purchases ERJ145
C&L Aerospace has purchased an ERJ145 aircraft from to be parted out. All parts from the aircraft will be stocked in C&L’s warehouses in the US and around the globe and available for sale or exchange. Parts from the ERJ will supplement existing inventory and be used to support PBH and rotable parts contracts, as C&L currently has with operators. It will also be utilized on aircraft in heavy maintenance at their Bangor, Maine Part 145 maintenance facility where C&L performs heavy maintenance on a variety of regional aircraft, including the ERJ.
Delta opens bookings and schedule for new Minneapolis/St. Paul – Seoul-Incheon service
In April 2019, Delta will commence service from Seoul-Incheon to Minneapolis/St Paul, using the airline’s newly refurbished 777 fleet. Available for sale now, this new flight — in cooperation with Delta’s joint venture partner Korean Air — offers among the best connections between the Midwest and Asia and complements the airline’s existing nonstop service to Seoul from Atlanta, Seattle and Detroit. The new flight from Minneapolis, along with recently announced Boston-Logan/Seoul-Incheon service that Korean Air will operate in April 2019, are the first additions to the joint venture’s Seoul-Incheon network since the two carriers launched their partnership in May.
FL Technics Indonesia receives FAA Part-145 certification
FL Technics has achieved a great milestone in the company’s expansion in the Asia-Pacific region. The company has earned FAA (Federal Aviation Association) Part-145 Air Repair Station certification #47DY377D emerging as one of Asia’s MRO hotspots in the Jakarta’s Soekarno-Hatta International Airport. This certificate allows FL Technics Indonesia to provide MRO services for aircraft registered in the United States in accordance with 14 CFR Part-145. Having an FAA Certificate makes FL Technics Indonesia a Western hemisphere recognized MRO provider.
Mesa Air Group, Inc Announces Pricing of Initial Public Offering
Mesa Air Group, Inc announced 9 August the pricing of its initial public offering of 9,630,000 shares of its common stock, at a public offering price of $12.00 per share. The Company and the selling shareholders named in the registration statement granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,444,500 shares of the Company's common stock. If the overallotment option is exercised in full, 777,833 shares will be purchased directly from the Company, and 666,667 shares will be purchased directly from the selling shareholders. Shares of the Company's common stock are expected to begin trading on the Nasdaq Global Market on August 10, 2018 under the ticker symbol "MESA." The offering is expected to close on August 14, 2018, subject to satisfaction of customary closing conditions. Raymond James and BofA Merrill Lynch are acting as lead book-running managers for the proposed offering. Cowen, Stifel and Imperial Capital are acting as additional book-running managers for the proposed offering.
United Airlines Announces New Nonstop Service Between Washington, D.C. and Tel Aviv
United Airlines announced 2 August it will begin its 20th year of service to Israel with a new nonstop flight between its hub at Washington Dulles International Airport and Tel Aviv's Ben Gurion International Airport starting May 22, 2019 - subject to government approval. The new flight will be the first to be operated by a U.S. carrier between the two cities.
U.S. gets service from Canada's ultra-low-fare airline, Swoop
Swoop announced 2 August its entrance into the U.S. market with five new international flight routes available for purchase through April 27, 2019. The 2018/19 winter schedule includes routes from Mesa (Phoenix) to Edmonton; Las Vegas to Hamilton (near Toronto), Edmonton and Abbotsford (near Vancouver); and Fort Lauderdale, Orlando and Tampa Bay to Hamilton.
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