Worldwide business and general aviation avionics sales climbed to $652.1 million in the second quarter, up 2.7 percent from $635 million in the same period a year ago, according to the latest data from the Aircraft Electronics Association. Combined with first-quarter sales of $651.7 million, total worldwide sales of avionics exceeded $1.3 billion in the first half, a gain of 6.8 percent year-over-year.
Helicopter leasing company Milestone Aviation Group signaled its intention to offer stock to the public–an initial public offering (IPO)–yesterday in a filing with the U.S. Securities and Exchange Commission. No date for the IPO has been set, nor has any valuation been placed on shares to be offered. Milestone was founded by former NetJets CEO and founder Richard Santulli in 2010 with an initial capitalization of $500 million. The company’s current fleet is valued at $2.2 billion and it has more than 145 helicopters on order worth $3.4 billion.
To help sustain the talent pipeline and nurture newcomers to the industry, NBAA will debut its young business aviation professionals program during its Soar networking event next month at the 2014 NBAA Convention in Orlando, Fla. “Soar is dedicated to building relationships and a sense of community between emerging leaders across the industry,” said NBAA project manager of operations Brian Koester.
Japan’s Amakusa Airlines expects to become the country’s first ATR 42 operator under the terms of a lease deal it signed in late July with Nordic Aviation Capital (NAC). The letter of intent calls for the Kumamoto Prefecture-based regional airline to take the aircraft, a new ATR 42-600, in the fourth quarter of next year. The announcement followed NAC’s firm order at the Farnborough airshow for 25 ATR 42-600s. NAC also took options on 50 of the turboprops, raising the potential value of the deal to more than $1.55 billion.
Indianapolis-based Republic Airways plans to consolidate its Chautauqua Airlines operation into its Shuttle America subsidiary in an effort to cut costs through a reduction of its air operator certificates to two from three. Company CEO Bryan Bedford sent a letter to employees in late July announcing the company’s intention to migrate Chautauqua’s 41 fifty-seat Embraer ERJ-145s to Shuttle America by year-end.
Esterline CMC Electronics’ CMA-9000 flight management system and CMA-5024 GPS/Waas landing system have been selected on the Airbus Helicopters EC225e, an extended-range version of the Super Puma slated for delivery in 2016. Both systems had their latest iterations EASA-certified for the AS332L1e and AS332C1e Super Pumas, which recently entered service. Both are offered as retrofit options, too.
Russia’s business aviation community has assembled at Moscow’s Vnokovo Airport for the annual JetExpo show this week. Among the highlights is the first full appearance of a completed Sukhoi Business Jet, which is symbolic of Russia’s aspiration to develop a homegrown business aviation industry. AIN’s team of reporters has all the news from this year’s JetExpo at our special landing page.
Russia’s aircraft interiors business is determined to reduce the country’s reliance on foreign suppliers–a goal that may or may not be connected to the threat of further Western economic sanctions against Russia. The only media briefing at the entire three-day JetExpo’2014 show came from AKAI, the Russian acronym for Association of Aviation Interior Companies.
Christopher Hart was appointed NTSB chairman. A licensed pilot with commercial, multi-engine and instrument ratings, Hart previously served on the NTSB as board member. He replaces Deborah Hersman.
BE Aerospace (BEA) bought Emteq Corporate and its subsidiaries. Emteq provides aircraft interior and exterior lighting, as well as cabin management and power systems. BEA sees Emteq’s lighting, cabin management and power systems as highly complementary to its own product lines.