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North American Newsletter 29 November

North American Newsletter 29 November

Air Canada Exits Government of Canada Financial Support as Industry Recovery Continues

Air Canada announced that due to its improved liquidity position and ongoing recovery from the pandemic it is withdrawing from further Government of Canada financial support. The support package, announced in April 2021, provided the carrier access to interest bearing loans of $5.375 billion through several separate credit facilities. To date, Air Canada has only accessed the facility solely dedicated to refunding customers’ non-refundable tickets, while all other remaining facilities totalling $3.975 billion have not been used. Air Canada CEO & President Michael Rousseau said “Air Canada’s recovery from COVID-19 continues. We are recalling employees, adding new routes and frequencies to our network, and restoring services, and, last quarter, we completed a $7.1-billion financing. Today, in another convincing sign of our progress, we are announcing our withdrawal from the major funding provisions of our support agreement with the Government of Canada for the $3.975 billion in facilities that were never accessed and remain unused.”

Air Lease Corporation (ALC) acquiring Airbus A350Fs as Part of Large Order

Air Lease Corporation announced an new Airbus deal including 25 A220-300s, 55 A321neos, 20 A321XLRs, four A330-990neos, and seven A350F freighters becoming the latter type’s launch order. ALC Executive CEO & Chairman Steven Udvar-Hazy stated “ALC was the launch customer for the very popular A321LR and XLR versions. Now, we become the launch lessor for the A350F and by far the largest lessor customer for the A220. We had the vision to be first adopters of the A321 and are convinced we have made the right choice again on the A220 and A350F, responding to what we see the market will need in the period of recovery ahead.”

Bombardier Opens Line Maintenance Station at Al Maktoum International Airport Dubai

Bombardier has announced the establishment of a new a line maintenance station that includes AOG capabilities at Al Maktoum International Airport in Dubai South for Challenger and Global owners and operators. The move is part of Bombardier’s investment in the aftermarket business in the Middle East, where it sees “considerable potential” and “significant future growth opportunities.”

Canada Jetlines and Lufthansa Technik Secure Agreement on Repair and Pool Support Contract

Canada Jetlines has signed a long-term ‘Component and Expendable Parts’ agreement with Lufthansa Technik AG for its proposed A320 fleet. The multi-year agreement covering extensive component services, will support the startup and growth of the airline as it expands its fleet and network.

EFW starts into 1st U.S. P2F conversion for GTLK Europe at VT San Antonio Aerospace

The first Airbus A321-200 passenger to freighter (P2F) conversion in the United States with the slot in into the hangar at ST Engineering’s airframe maintenance and modifications facilities in San Antonio, Texas. VT San Antonio Aerospace . Together with the support by Elbe Flugzeugwerke GmbH (EFW) the companies OEM solution for A321 conversions will be realized at VT SAA. The A321P2F will be re-delivered to customer GTLK Europe will be operated by SmartLynx with entry into service (EIS) of this A321P2F in summer 2022.

Emirates Places Order for Two More 777 Freighters

Emirates Airline has placed a new order with Boeing for two 777 freighters. The aircraft will operate with the airline’s SkyCargo division.His Highness Sheikh Ahmed bin Saeed Al Maktoum, Emirates chairman and chief executive said “Emirates plays a key role in making essential goods available to customers and consumers globally through the capacity available on our widebody fleet, the reach of our global network, and the advanced infrastructure at our Dubai hub.”

Global Crossing Airlines Announces Public Filing of S-1 Resale Registration Statement

Global Crossing Airlines announced that it has filed a resale registration statement on Form S-1 with the Securities and Exchange Commission to register the resale of shares of Common Stock and shares of Class B Non-Voting Common Stock issued and issuable upon the exercise of warrants , issued in the Company’s private placement transactions, which closed in June, 2020, January 2021 and April 2021. The Registration Statement, once effective, will subject the Company to SEC reporting requirements under the Securities Exchange Act of 1934, which the Company believes will provide it with better access to the U.S. capital markets.

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