News and issues concerning aerospace companies, including formations, acquisitions, mergers and financials; and announcements of significant aircraft sales, delivery statistics and personnel appointments.
Deer Jet, China’s largest fleet operator, has launched its “General Aviation Equity Fund,” with the goal of increasing investment in general aviation services, such as FBOs and MROs, in China. The fund is anticipated to generate 2 billion RMB in investment capital in the first round, towards a total of 5 billion RMB. Deer Jet announced the fund here at ABACE 2014
Minsheng Financial Leasing Co. (MSFL), Asia’s largest business jet leasing firm, is climbing steeply to increase the size of it inventory even more. On perhaps one of the clearest days in ABACE memory, Minsheng confirmed yesterday that it had placed orders with both Gulfstream and Bombardier in the fourth quarter of last year.
Honeywell’s long-term investments in the Asian marketplace are paying off, according to Briand Greer, the Shanghai-based president of Asia-Pacific for aerospace. “This is a big show for us with what’s happening with business and general aviation [BGA] in the region,” he said. Key Honeywell BGA programs in China include the LTS101 engine for Avicopter’s AC311 helicopter, which was certified by the CAAC last year and represents the first new airframe for that engine in many years.
Airbus Helicopters is making its public debut in China this week for the first time since the company formerly known as Eurocopter was renamed as part of a wider restructuring that has seen other parts of its EADS parent group channel the marketing power of the Airbus brand. Airbus airliners have sold well here in the People’s Republic, but then so have the “Eurocopter” rotorcraft, which still lay a strong claim to being the market leader in China.
JSfirm.com, an online aviation-specific employment board operator, recently released the results of its fifth annual hiring trends survey. The survey not only looked back at the results from the past year, but noted some positive indications for the coming year as well. “This annual survey has proved to be accurate in past years at forecasting the hiring trends and is eagerly anticipated by the aviation industry,” said Jeff Richards, the company’s operations manager. Four hundred companies across various sectors of the industry provided the data for the survey.
Managers of foreign aerospace companies with joint-venture operations in China uniformly worry about the theft of their intellectual property, according to a Rand study issued on April 4. They believe that staying ahead of emerging Chinese competitors requires constant technological innovation, it added.
While the Regional Airline Association and regional airline management point to new rules governing flight time experience for first officers as the primary reason for a pilot shortage that has resulted in a loss of service to several U.S. communities, pilots contend the airlines have made their own mess by creating a business model predicated on breadline wages for cockpit crew. The Air Line Pilots Association, for one, argues that there’s no shortage of pilots, only a shortage of pilots willing to fly for substandard wages and inadequate benefits.
An extension of the contract to maintain the A320 final assembly line in Tianjin, China, by another 10 years led a series of agreements Airbus entered with Chinese partners on Wednesday that also marked the end of a bitter trade dispute over Europe’s Emissions Trading Scheme (ETS).
Bombardier appeared to backtrack on comments in the Russian press by CEO Pierre Beaudoin indicating that the country’s annexation of Crimea could threaten the Canadian company’s planned joint venture with Russian conglomerate Rostec. On Monday a Bombardier Aerospace spokesman told AIN that the Canadian company remained “fully committed” to plans for a Q400 turboprop factory in a special economic zone in the Ulyanovsk region, and that the comments by Beaudoin didn’t refer specifically to the agreement with Rostec.