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North America Newsletter 16 December

North America Newsletter 16 December

Air Canada’s first A220-300 takes to the skies

The first A220-300 for Air Canada has successfully completed its inaugural test flight from the Mirabel A220 final assembly line in Quebec. The first of 45 aircraft for Air Canada is scheduled to be delivered to the airline in the coming weeks. With its first A220 commercial flight in early 2020, Canada’s flag carrier will become the first airline in the country to operate the Canadian-designed and built A220. It will also become the first carrier in North America to fly the A220-300 variant.

Air Lease Corporation Announces Delivery of New Airbus A321-200neo Aircraft to Air Macau

Air Lease Corporation announced the delivery of one new Airbus A321-200neo aircraft on long-term lease to Air Macau.  This aircraft, featuring Pratt & Whitney PW1133G engines, is the first of two A321-200neo aircraft confirmed to deliver to the airline from ALC’s order book with Airbus and the first A321-200neo to deliver to the airline. “We are pleased to announce this first of two A321-200neo aircraft delivery to Air Macau today and be the first to introduce the A321neo to the airline,” said Jie Chen, Executive Vice President and Managing Director, Asia – President, Air Lease Corporation Hong Kong Limited.  “The ALC team has a long history of working with Air Macau and we are thrilled to continue to build our strong relationship with the airline by providing the most modern, fuel-efficient aircraft.”

Jetlines Announces Business Combination with Global Crossing Airlines

Canada Jetlines announces that it has entered into a letter of intent with Global Crossing Airlines with respect to a business combination of Jetlines and GLOBALX. GLOBALX is a developing United States based charter airline and is financially backed by two Miami based private-equity firms. GLOBALX is a Delaware corporation in the pre-revenue stage with its head office located at Miami International Airport. GLOBALX plans to operate a US 121 charter airline using the Airbus A320-200 aircraft. GLOBALX business model includes the intention to provide ACMI and wet lease contracts to airlines operating within and to the United States and develop aircraft interchange with leading European charter/tour operators GLOBALX is currently in regulatory certification.

Precision Aircraft Solutions Redelivers 26th Conversion To SF Airlines

Precision Aircraft Solutions has redelivered one 757-200PCF aircraft, MSN 29944, to SF Airlines, a subsidiary of SF Express. The conversion is the 26th Precision passenger-to-freighter 757 aircraft to join the SF air operation.

Southwest Airlines To Share Proceeds From Boeing Agreement With Employees

Southwest Airlines recently reached a confidential agreement with The Boeing Company (Boeing) to compensate Southwest for a portion of projected financial damages related to the grounding of the airline’s Boeing 737 MAX aircraft. In light of this agreement, the Southwest Board of Directors has authorized a discretionary, incremental profit-sharing accrual for Employees, which is tied to the projected reduction in operating income for annual 2019 due to the MAX groundings. The Company currently estimates this incremental profit-sharing accrual to be approximately $125 million. Gary C. Kelly, Chairman of the Board and Chief Executive Officer said “Our People have done an incredible job managing through the MAX groundings, while providing the highest levels of Customer Service and one of the best operational performances in our history. On behalf of the Southwest Board of Directors, we are grateful to our Employees for their extraordinary efforts throughout the year and are pleased to share proceeds from our recent agreement with Boeing.”

 The Onex Group Completes Acquisition of WestJet

Onex Corporation and its affiliated funds and WestJet Airlines Ltd announced they have completed their transaction valued at approximately $5 billion including assumed debt.  The closing comes following the receipt of the final regulatory approval by the Canadian Transportation Agency of its determination under the Canada Transportation Act.

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