British air-taxi operator startup FlairJet yesterday announced plans to enter service next May with a pair of Embraer Phenom 100s. It will lease the very light jets from an undisclosed Embraer customer in Europe that has 10 Phenom 100s on order. FlairJet has placed an order for one Phenom 100, as well as an option for another, and is due to receive this airplane in 2012. It has an option to lease further Phenom 100s beginning in 2010.
AINalerts » September 9, 2008
Elbit Systems U.S. subsidiary Kollsman of Merrimack, N.H., has agreed to pay Innovative Solutions & Support $17 million in damages to settle a lawsuit over stolen air-data computer technology. IS&S filed the lawsuit last year against Kollsman and other parties, including J2 Aviation and Zachary Technologies, accusing the defendants of “misappropriating” IS&S’s air-data technology.
Several U.S. operators of business aircraft report that they have received invoices this week from NavCanada for a retroactive 5-percent goods and services tax (GST) on air navigation service charges. The Canadian Revenue Authority (CRA) has assessed the tax to NavCanada, which is attempting to recover payments from aircraft operators who have flown in its airspace in the last five years, the length of the statute of limitations.
On Thursday, Bombardier reported a year-over-year revenue increase of 22 percent, to $4.9 billion, in its second fiscal quarter ending July 31, thanks in large part to its aerospace division. The company’s aerospace division contributed $2.5 billion of these revenues in the quarter, up from $2.2 billion in the same period last year.
Separate reports released in the past week by JPMorgan and UBS Investment Research indicate that pre-owned business jet inventories continued to increase last month, leading both financial analyst firms to warn that deliveries of new aircraft could fall as a result.