The recent completion of European certification of Rolls-Royce’s Trent XWB not only boosted Airbus’s efforts to fly its new A350XWB widebody in the first half of this year, it freed the UK-based engine maker to turn its attention to the Trent XWB-97 turbofan, designed to power the longer-range A350-1000 (the standard 84,000-pound-thrust Trent XWB powers the -800 and -900 versions).
Financing, Insurance and Taxes » Aviation Financing
Issues regarding financing of aircraft.
Airbus has raised its sales target for 2013 to 700 airliners after surpassing its target of 650 for last year with gross orders for 914 airplanes and a net order count of 833 after cancellations. But the European airframer has acknowledged that it is especially eager to get sales of its A380 widebody back on track after logging orders for only nine of the superjumbos in 2012.
The Mediterranean island of Malta, which was awarded Britain’s George Cross gallantry medal for its resistance against Axis air raids and a naval blockade during World War II, is now engaged in a campaign to become as involved in the aviation services industry as it previously has been in maritime affairs.
American International Group has agreed to sell up to a 90-percent stake in International Lease Finance Corporation (ILFC) to a group of Chinese investors led by Weng Xianding, the chairman of New China Trust Company, AIG announced today.
Milestone Aviation Group, the helicopter leasing firm headed by NetJets founder Richard Santulli, is raising $250 million to purchase aircraft and refinance previously purchased aircraft. It is doing this by offering senior unsecured notes that are due in 2017. Milestone, which provides 100-percent operating lease financing for helicopters, has leased more than 60 aircraft worth more than $850 million since its launch in August 2010.
Boeing projects the world’s airlines should see reasonable liquidity and pricing for new-aircraft delivery financing next year as jet builders accelerate production to meet demand, the manufacturer announced in London on Tuesday while issuing its fifth annual finance market forecast.
As the business aviation industry slowly recovers lost ground in terms of aircraft sales and flight hours, the liquidity of funding for aircraft purchases is showing signs of emerging from its hibernation over the past few years.
Dublin, Ireland-based Milestone Aviation claims to be on track to lease $1 billion worth of helicopters by year-end. The company, created in 2010 by former NetJets top execs Richard Santulli and William Kelly, provides various leasing arrangements to helicopter operators, from lease on new helicopter delivery–the customer chooses the aircraft, negotiates the contract and then assigns it to Milestone–to sale-leaseback.
NationAir Aviation Insurance has added in-house IS-BAO audits to its services. The company’s claims advisor, Tom Surgalski, is now an accredited IS-BAO auditor and will provide its new offerings, which include Stage I, II and III IS-BAO audits, gap audits and general consulting on IS-BAO standards and safety management systems. Surgalski will be available to discuss IS-BAO issues at NationAir’s booth at the NBAA Convention next week.
Japan’s Sumitomo Mitsui Bank (SMBC) beat more than 30 other bidders to complete the acquisition of RBS Aviation Capital on October 15, demonstrating the growing importance of leasing in new-airliner acquisitions. The bank’s new SMBC Aviation division intends to merge two other leasing companies owned by its shareholders to challenge for the number-three position in the leasing sector, controlling some 331 aircraft.