Aircraft Finance & Leasing News - Europe

AirGuide Business, April 7, 2008

Apr 7, 2008

Airbus, EADS

French stock exchange regulator AMF College believes it has found evidence - following a long-running inquiry - of a failure to comply with market trading rules at Airbus parent company EADS. EADS - as well as the concerned company and Airbus executives - have formally taken notice of the decision of the AMF to initiate proceedings, respectively for breach of market information duties and for breach of insider trading rules. The issue surrounds whether employees had insider knowledge of delays with its Airbus A380 superjumbo before selling shares in the company. The European aerospace giant said the regulator considered that the elements gathered during the investigative phase of the inquiry, as interpreted by AMF[sup.1]s investigators, do not justify a dismissal of the case.[sup.1] The company[sup.1]s statement said that people involved will be able to confront AMF's interpretation with their explanation of the facts of the case[sup.1] and that they intend to vigorously exercise their defence rights with the support of EADS, in front of the Sanction Commission of the AMF which will decide whether to impose fines after due hearing of the parties.[sup.1] EADS considers that the financial risk associated with this procedure and its possible consequences is not material but recognises that these proceedings may have significant consequences on its image and reputation.[sup.1] EADS owns Airbus, whose A380 is beginning to enter service around the world - notably, on the Singapore-London route last month. This is the first step of what is likely to be a long process,[sup.1] read the statement. Apr 2, 2008

Airbus, EADS

French regulator presses charges against Airbus parent EADS. European aerospace firm EADS is facing charges of insider trading and misleading investors, according to media reports. The charges, filed by French regulators, are related to cost overruns and aircraft delays at Airbus, its commercial airline unit. EADS said it will "demonstrate that it has applied standards of excellence when communicating to the market, and has acted with full transparency." Apr 1, 2008

ExecuJet Aviation, Bombardier

ExecuJet Aviation has launched a new lease-based alternative to fractional ownership, block charter and traditional aircraft management. Simply Fly will see the Swiss group acquiring business jets, making them available to individual clients and operating them on a fully turnkey basis, covering crew, insurance, maintenance and handling. Customers will have exclusive use of an aircraft and a dedicated crew. The aircraft will be operated under one of the following eight air operating certificates (AOCs) that ExecuJet holds around the world: Switzerland, Germany, Denmark, the UK, South Africa, Australia, Mexico and the United Arab Emirates. The group already operates more than 100 aircraft. As a Bombardier distributor in 35 countries, ExecuJet is now negotiating with the Canadian manufacturer to buy an initial batch of Global Expresses and Challengers. It plans to begin Simply Fly operations by September with a pair of used Challenger 604s. Mar 31, 2008

Flybaboo

Flybaboo intends to add five 100-seat Embraer E-190s over the next two years, with the first three arriving by June. It currently operates two Bombardier DHC-8-Q400s. Mar 31, 2008

SAS Scandinavian, Bombardier

SAS Scandinavian says it is not ruling out operating the new Bombardier DHC-8-Q400, despite having completely withdrawn its predecessor last year. The carrier pulled all 27 of its Q400 fleet following a series of landing gear incidents that sapped SAS confidence in the regional aircraft. SAS vice president network and revenue management partner and alliances Christian Hylander said the carrier could consider its replacement. SAS recently announced it had opted to purchase 27 of the so-called New Generation Q400s for partner carriers Air Wideroe and Air Baltic, a development that Hylander conceded had taken some by surprise. The SAS vice president insisted that the new aircraft - purchased in a complex financial arrangement with manufacturer Bombardier - had a new landing gear system - the apparent source of incidents involving SAS Q400 types. the airline also revealed something of the logistical headache posed by SAS[sup.1] decision to withdraw its Q400 fleet. Apr 2, 2008

SATA Air Acores, Bombardier

SATA Air Acores parent Grupo SATA ordered four Bombardier DCH-8-Q400 NextGens, Bombardier announced. Aircraft are worth $113 million at list prices and will seat 80 passengers each. Delivery date was unannounced. Air Acores currently flies five BAe ATPs and one Do-228. Apr 1, 2008

Sukhoi Aircraft

Sukhoi Civil Aircraft purchased the Pacelab Cabin solution in order to develop customer-specific cabin configurations and "promote sales" of the Superjet 100 regional aircraft. Mar 31, 2008

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