Aircraft Finance & Leasing News - Europe

AirGuide Business, April 27, 2009

Apr 26, 2009

Airbus

Airbus has established a Watchtower Committee to monitor its customers and financing needs, an operation similar to the War Room established by Boeing Capital in August 2007. It replicates a similar process which followed 9/11, says Nigel Taylor, senior vice-president, customer, project and structured finance for Airbus. It analyses the "real" needs of airlines over the next two years, seeking to determine if any carrier may not need the equipment this year and moving the aircraft around if necessary. It also analyses pre-delivery payments and surveysthe banks in line to finance customers. Apr 24, 2009

Airbus

Airbus said it "achieved a significant maintenance cost improvement due to the optimization of scheduled maintenance program intervals" for the A330/A340 family. The A check interval has been extended from 600 to 800 flight hr. and the heavy maintenance check from 10 years to 12. The company said that as a result, operators typically will need to perform five A checks per year rather than seven based on "typical utilization" of 4,400 flight hr. per year. The new 12-year heavy check interval means operators can "synchronize" the six yearly intermediate checks and heavy checks, "leading to a reduction of one heavy check in the aircraft life." It estimated the savings from the revised intervals at potentially up to 6%, or around $1 million per aircraft, "over a 15-year period at present values." Apr 20, 2009

Finland, Pilatus

Finland's air force has selected the Pilatus PC-12 NG single-engine turboprop to replace six Piper Chieftain aircraft. In a statement, the Finnish Defence Forces say that a euro22.5 million ($29.8 million) contract covering six turboprops has been signed with Swiss manufacturer Pilatus. The aircraft will be deployed in a liaison role. Deliveries are expected to commence at the end of 2010. Apr 24, 2009

Flybe, Bombardier

Flybe took delivery of its 50th Bombardier DHC-8-Q400 yesterday. Apr 21, 2009

GMT Global Republic Aviation, Airbus

GMT Global Republic Aviation announced the purchase of four Airbus A320-200s from Orix Aviation. Dublin-based GMT now has 24 aircraft in its portfolio. Apr 20, 2009

Macquarie AirFinance, Thomas Cook Airlines, Airbus

Macquarie AirFinance closed the purchase of two CFM56-5B3/P-powered A321-200s from Aercap. Aircraft are on lease to Thomas Cook Airlines Scandinavia through 2015. Apr 21, 2009

Rolls-Royce

Rolls-Royce Group plans to issue a 10-year sterling benchmark bond, IFR reported on Thursday. Initial price guidance has been set at gilts plus 330 to 350 basis points, said IFR Markets, a Thomson Reuters online news and market analysis service. Barclays, BNP Paribas and JP Morgan have been named to manage the deal, IFR said. Rolls-Royce is rated A- by Standard & Poor's and Fitch Ratings and A3 by Moody's Investors Service. Reported by Reuters. Apr 23, 2009

Saab AB

Swedish aerospace and defense company Saab AB Thursday reported a loss for the first quarter, mainly due to higher research costs, and said it will lay off 300 employees. The company said net loss for the first quarter was 27 million kronor (3.2 million USD), down from a profit of 231 million in the same period in 2008. Sales rose to 5.4 billion kronor from 5.0 billion kronor a year earlier, while order bookings fell to 4.1 billion kronor from 7.7 billion kronor. The company said it has given layoff notices to 300 staff at its plant in Linkoping, Sweden as a result of the financial pressure in its aeronautics segment. Apr 23, 2009

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