Hawker Beechcraft’s key creditors voted “overwhelmingly” on Friday to approve the Wichita-based aircraft manufacturer’s proposed joint plan of reorganization as part of its efforts to emerge from bankruptcy. JPMorgan Securities and Credit Suisse Securities will jointly structure, arrange and syndicate $600 million in exit financing for the post-bankruptcy standalone company, Beechcraft Corp.
Regulations and Government
News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA reauthorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.
The European Aviation Safety Agency (EASA) has invited NBAA to take part in the formulation of new rules that would differentiate rest requirements for on-demand aircraft charter operators from those that cover scheduled air carriers. Current EASA regulations on crew rest are “one size fits all,” said NBAA vice president for safety, security, operations and regulation Doug Carr. They make no allowances for the different nature of the on-demand charter business when compared to scheduled airline operations, NBAA said.
Transportation Secretary Ray LaHood announced to DOT employees this morning that he will not be staying on for a second term. The former seven-term Congressman was the lone Republican in President Obama’s first Cabinet. During his four years as DOT secretary, LaHood was Obama’s point man for increased infrastructure spending to help heal the economy. He said he will stay on until his successor is confirmed.
Details from more than 3,000 pages of expenses charged to the Ontario government’s troubled air ambulance service, Ornge, by former CEO Dr. Chris Mazza have been made public. Mazza was fired last February in the wake of performance and financial irregularities at the company. Between 2005 and 2007, his expenses totaled more than $121,000, and his pace of spending increased in subsequent years.
The U.S. FAA has formed an aviation rulemaking committee (ARC) to make recommendations by next summer on safely allowing the use of portable electronic devices (PEDs) in flight. The committee will meet as in-flight entertainment and consumer electronics associations turn up the pressure to ease current restrictions on PEDs with new research on airline passenger demand.
Qatar-based Rizon Jet says the country’s Civil Aviation Authority (CAA) is unfairly blocking the company’s plans to expand its business aviation services. The privately owned group charged on Tuesday that it is “facing hindrances that make it impossible to sustain a viable business in Qatar.”
Rep. Rick Larsen (D-Wash.) is now the top House Democrat on aviation issues after colleagues voted him to sit on the House Transportation and Infrastructure Committee. He will also serve as the ranking member on the aviation subcommittee, which has jurisdiction over all aspects of civil aviation, including safety, infrastructure, labor, commerce and international issues. The subcommittee also oversees the FAA.
This morning at the opening session of NBAA’s 24th annual Schedulers & Dispatchers Conference, NBAA president and CEO Ed Bolen looked to the start of the new session of Congress and used his podium to issue an impassioned plea for show attendees to contact their representatives, requesting they join the general aviation caucus.
A new Reason Foundation study argues that U.S. passenger airports could support themselves and fund capacity improvements with user fees and long-term financing, eliminating the need for government grants from the Airport Improvement Program (AIP). The study by the libertarian research organization also proposes spinning off the FAA’s Air Traffic Organization (ATO) into a separate federal entity that charges users for ATC services.
Aviation alphabet groups praised the appointment of Rep. Frank LoBiondo (R-NJ) to serve as the new chairman of the aviation subcommittee of the U.S. House of Representatives’ Committee on Transportation and Infrastructure during the 113th Congress. The subcommittee has jurisdiction over civil aviation in the U.S., including most aspects of the FAA, TSA and NTSB.