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North American Newsletter 22 March

North American Newsletter 22 March

AEI to provide USA JET with Three MD-88SF Freighter Conversions

Aeronautical Engineers, Inc. (AEI) announced that it has signed a contract to provide Michigan-based USA Jet Airlines (USA JET) with three AEI MD-88SF Freighter Conversions. USA JET is a subsidiary of Ascent Global Logistics, a firm with more than $1B in revenue that is the market leader in the domestic air expedited market. The contract provides an option for three additional freighter conversions of the same aircraft type.

Azorra Aviation Announces Investment by Oaktree

Azorra Aviation Holdings LLC announced that it has entered into an agreement with funds managed by Oaktree Capital Management, L.P under which Oaktree and Azorra’s founders will invest $350 million to expand Azorra’s commercial aircraft leasing business.

Azorra Leases Six Embraer E170s to American Airlines

Azorra Aviation Holdings, LLC announced that it has entered into long-term lease agreements covering six (6) Embraer E170s to be operated by American Airlines’ wholly owned Envoy subsidiary.

Chorus Aviation Finalizes Revisions to the Capacity Purchase Agreement With Air Canada

Chorus Aviation confirmed the condition precedent to the revisions of the capacity purchase agreement (‘CPA’) between Jazz and Air Canada announced on March 1, 2021 has been met. As a result, the amended CPA is effective on a retroactive basis to January 1, 2021. The newly ratified agreement with Jazz pilots, as represented by the Air line Pilots Association International, will run until December 31, 2035. “I extend my gratitude to our Jazz pilots and the leadership team of the Air Line Pilots Association International for securing Jazz’s place within the Air Canada Express network. This is very good news for our employees and our stakeholders,” stated Joe Randell, President and Chief Executive Officer, Chorus. “As the sole operator of Air Canada Express services, we look forward to integrating the Embraer 175s into our fleet and further expanding our wide portfolio of regional aviation capabilities and services.”

SmartLynx and Global Crossing Airlines Announce Expanded Strategic Partnership

Global Crossing Airlines Group Inc and SmartLynx Airlines have announced an expanded partnership with the goal of creating new opportunities and increasing global operating coverage. The airlines previously announced a damp-lease exchange of airlines during peak traffic movement periods, beneficial to both airlines in reaching their goals. The Chair and CEO of GlobalX Ed Wegel said “Our partnership with SmartLynx has already paid great dividends as we have used their deep experience with the A320 family of aircraft to improve our operations as we get ready for revenue service. We now look forward to taking this partnership to the next level by combining our sales and service efforts worldwide, and as well consulting on acquiring both passenger and cargo aircraft.”

Sun Country Airlines Holdings, Inc. Announces Pricing of Initial Public Offering

Sun Country Airlines announced the pricing of its initial public offering of 9,090,909 shares of its common stock at an initial public offering price of $24.00 per share. Sun Country Airlines has granted the underwriters a 30-day option to purchase up to an additional 1,363,636 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market under the symbol “SNCY” on 17th March.

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