Aircastle Announces the Delivery of One A320 NEO in a Sale Leaseback with Volaris
Aircastle announced today that it completed the first of two sale and leasebacks of new A320 NEO aircraft with Volaris. This aircraft delivered new from Airbus and is the twenty-eighth NEO to enter the Volaris fleet. Delivery of the second aircraft will follow later this month and both aircraft are being leased on a twelve-year term.
Atlas Air Worldwide and Titan Aviation Holdings Announce Financing Facilities with CDPQ, BNP Paribas, and volofin
Atlas Air Worldwide Holdings announced that Titan Aircraft Investments Ltd., a joint venture of its Titan Aviation Holdings, Inc. subsidiary and Bain Capital Credit, has entered into a US$300 million warehouse financing agreement with a subsidiary of Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor, and BNP Paribas as joint lead arrangers and lenders. Titan Aircraft Investments has also separately entered into a US$200 million bridge financing agreement with volofin Capital Management being the sole lender and arranger. The warehouse facility will provide debt capital to finance the acquisition of freighter aircraft leases by Titan Aircraft Investments and the bridge facility will provide debt capital to finance the conversion of passenger aircraft into freighter configuration.
CAS Partners With Amerijet International in a New Line Maintenance Contract
Certified Aviation Services LLC (CAS) announced the execution of a new partnership agreement with Amerijet International. CAS will provide Line Maintenance support to Amerijet’s B767s for their new operations at Ontario, California.
Global Jet Capital Raises $522 Million in Newest ABS
Global Jet Capital has closed on its fourth asset-backed securitization (ABS), BJETS 2020-1, which raised $522 million. That brings Global Jet Capital’s total assets securitized to more than $2.8 billion and bonds issued to more than $2.3 billion. This latest ABS comprises aircraft loans and leases representing more than 30 different aircraft models—mostly midsize to large-cabin business jets. Global Jet CEO Shawn Vick said “Our ongoing success in the ABS market and the growing strength of our liquidity profile are representative of our underwriting discipline and the resulting stability of our portfolio—not to mention the vitality of the business aviation sector as a whole.”
Gulfstream Increases Ranges of G500, G600
Gulfstream Aerospace has increased the ranges of its G500 and G600 by 100 nm at both long-range and high-speed cruise speeds based on real-time operations, the Savannah, Georgia-based airframer announced today. According to Gulfstream, the G500 can now fly 5,300 nm at Mach 0.85 and 4,500 nm at Mach 0.90, while the G600 increases its range to 6,600 nm at long-range and 5,600 nm at high-speed cruise. Gulfstream president Mark Burns said “The G500 and G600 have been exceeding expectations since they entered service. This latest demonstrated range increase provides further proof of the tremendous efficiency and versatility of these aircraft. The Gulfstream team is always looking for opportunities to improve aircraft capabilities and the customer experience, and we are pleased to deliver another performance enhancement.”
Pilatus PC-12 NGX Flight Training Device Gets FAA Nod
The first FAA level-6 flight training device (FTD) for the new Pilatus PC-12 NGX is now available for pilot training at Simcom’s facility in Scottsdale, Arizona. Built by Frasca International, the FTD was delivered to Simcom—Pilatus’s factory-approved training provider—earlier this summer and been undergoing evaluation and testing, culminating in the recent FAA approval. The device replicates the Pilatus Advanced Cockpit Environment (ACE)—based on the Honeywell Primus Epic 2.0 avionics system—and features the new touchscreen avionics controller, single power control lever, and autothrottle system on PC-12 NGX.
TAG Aero – ITS Announcement
TAG Aero and ITS have entered into an agreement to support the 737 New Gen and A320 market with 131-9B and 9A APU solutions. ITS’s strategic fleet retirement solutions combined with TAG Aero’s extensive APU repair and overhaul capabilities will establish reliable, global support for 737 New Gen and A320 operators. Together, TAG Aero and ITS will provide solutions for 131-9 series maintenance, leases, flat-rate exchanges and outright APU sales.
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