A U.S. bankruptcy court has approved a new financing deal between US Airways and Embraer, Bombardier and DVB Bank to allow the airline to start taking regional jet deliveries for the first time since it filed for Chapter 11 protection in September last year.
Republic Airways Holdings
US Airways plans to start taking deliveries of Embraer jets again this November under a new agreement to convert its remaining positions on 57 Embraer 170s to 99-seat Embraer 190s, 23 of which remain subject to reconfirmation by the airline. Still subject to bankruptcy court approval, the deal includes options on another 50 airplanes from the Embraer 170/190 line.
Royal Jordanian Airlines has opted to take two 72-seat E-175 jetliners in lieu of two of seven 100-seat E-195s it ordered last year. The first of the E-175s is to be delivered in May 2008 and will feature a cabin with 60 economy-class seats and a 12-seat first-class section. The airline will deploy the new aircraft on a mix of domestic and regional routes.
Belgian aerospace company Sonaca is investing C$17 million in the expansion of its Sonaca NMF Canada subsidiary in Mirabel, Quebec. Sonaca NMF Canada provides most of the wing skins Bombardier uses for its CRJ regional aircraft and its business jets (Global Express, Learjet and Challenger series except the Challenger 300).
This year’s NBAA Convention was about more than multimillion-dollar deals, flashy exhibits and rows of new business jets gleaming under the Georgia sun. To gauge the true importance of the event, one has to look beyond the scope of sales announced at the show–more than a billion dollars, unofficially–and at the origins of those deals.
Forty-eight hours before the Regional Airline Association staged its annual convention at the Phoenix Civic Center from May 18 to 21, the season’s first 100-degree day marked the start of another long, oppressive summer in the Sonoran desert of the American Southwest.
“It is important that we as an industry stick together,” noted Shelly Simi, v-p of communications for the General Aviation Manufacturers Association, at the press conference breakfast at the Women in Aviation International convention, held March 20 to 22 in Cincinnati.
Dallas-based Global Jet Shares, a fractional and jet membership card provider specializing in large-cabin business aircraft, named Mark Ozenick as its COO, with responsibilities for day-to-day operations and marketing and sales for the company.
Ozenick founded HeliFlite Shares, a helicopter fractional-ownership company.
Indianapolis-based Republic Airways will soon issue five million shares of stock at between $14 and $16 each in its third attempt to take the company public, according to a prospectus filed last month with the SEC.
Under pressure to help their employer meet financing conditions set by regional jet lessor GECAS, the pilots of US Airways voted to ratify a new agreement that will allow the troubled airline to transfer delivery positions for Embraer 170s and Bombardier CRJs from wholly owned subsidiaries to independent US Airways Express carriers. Only 74.1 percent of the eligible active pilots cast ballots.