Acumen logo
North America Newsletter 2 September

North America Newsletter 2 September

Air Canada To Launch Year-Round Montreal-Toulouse Service

Air Canada announced the introduction of year-round service between Montreal and Toulouse starting June 4, 2020. The five-times weekly flights will provide the only year-round service between the two cities and be operated with Air Canada’s Airbus A330-300 fleet. Air Canada CEO & President Calin Rovinescu said “”Air Canada is very pleased to offer non-stop, year-round flights linking Montreal and Toulouse. This service will create opportunities to accelerate synergies between two of the world’s leading aerospace industry hubs.”

Aviation Capital Group Announces the Financing of One A350-1000 Aircraft for Virgin Atlantic Airways

Aviation Capital Group LLC (ACG) announced 28 August that it has structured, arranged, and provided a guarantee of a senior secured loan by Apple Bank for Savings (Apple Bank) to finance a portion of the purchase price of one Airbus A350-1000 aircraft delivered to Virgin Atlantic Airways (Virgin Atlantic). Rand Merchant Bank through FirstRand Bank Limited (London Branch) (RMB) provided a subordinated secured loan for a portion of the remainder of the aircraft purchase price.

Boeing, KLM Announce Order for Two 777 Aircraft

Boeing and KLM Royal Dutch Airlines announced 2nd September that the carrier has ordered two more 777-300ER (Extended Range) aircraft. The order, valued at $751 million at current list prices, was previously attributed to an unidentified customer on Boeing’s Orders & Deliveries website. Ihssane Mounir, senior vice president of Commercial Sales & Marketing for The Boeing Company. “KLM’s continuing interest in the 777-300ERs shows the enduring appeal and value of the 777, thanks to its outstanding operating economics, superior performance and popularity among passengers.”

Rolls-Royce to provide TotalCare Flex services for Air Canada

Rolls-Royce has signed an agreement to provide TotalCare Flex support services for Air Canada to ensure the availability of the latter’s Trent 700 until fleet retirement. The deal marks a new milestone for TotalCare Flex, which has been designed for owners and operators of mature engines. Rolls-Royce noted that until now, Air Canada fleet of Trent 700-powered Airbus A330s achieved more than 700,000 flying hours. Air Canada Operation senior vice-president Richard Steer said: “We are pleased to be the first Trent 700 operator to adopt TotalCare Flex with a long-standing, reputable supplier such as Rolls-Royce. “This further extends the strong business partner relationship already established over the years Air Canada has operated the fleet of A330 aircraft and furthers Air Canada’s goal to operate mature fleets in a cost-effective manner.”

Superior Court of Quebec Approves Plan of Arrangement for Air Canada and Transat A.T. Inc. Combination

Air Canada announced 29 August that the Superior Court of Quebec has granted a final order approving the previously announced Plan of Arrangement for the proposed combination of Air Canada and Transat A.T. Inc. There were no objections made to the court to the application, which was approved by nearly 95 per cent of shareholders at a special meeting of Transat held on Aug. 23, 2019.

Acumen Aviation © 2 September 2019 All Rights Reserved.