Boeing | May 03, 2020
The ongoing U.S. travel crisis is causing thousands of job cuts as the aviation sector waits for passengers to return to the skies but braces for years of lower demand because of the coronavirus pandemic. U.S. airlines are slashing hundreds of thousands of flights, cutting schedules by 80 percent or more through at least June and parking thousands of jets as demand for tickets has plunged by about 95 percent. Airlines are requiring facial coverings and implementing new cleaning procedures to try to convince passengers it is safe to fly again, but also fear the weakened economy may further drag down demand.
Late Friday, Spirit AeroSystems said that in response to lower production rates from Boeing Co and Airbus SE it would layoff 1,450 workers in Kansas.
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COMMERCIAL AVIATION
Nova Capital | December 02, 2021
LCI, a leading aviation leasing company, announces an agreement to acquire Nova Capital Aviation (Ireland) Limited, a division of the Nova Capital Group.
Nova Capital Aviation (Ireland) Limited represents the twin-engine rotary and fixed-wing aircraft lease division of the Nova Capital Group, with single-engine operations remaining within the Group.
The acquisition will result in a substantial expansion of LCI's leasing platform to over 140 twin-engine rotary and fixed-wing aircraft. It will also take the proportion of aircraft deployed on emergency medical services (EMS), search and rescue (SAR), off-shore wind and utility missions, to over 80% of the entire leasing platform.
"The Nova brand is highly regarded, and is a major presence in the mission-critical EMS market which perfectly complements our own. Our agreement reflects the current trend towards industry consolidation, and is testament to the robust leasing platform we have built. It expands our customer base, introduces new aircraft types to our fleet, and cements LCI's long-term commitment to growth."
- Crispin Maunder, Executive Chairman of LCI
Last year, Nova Capital further expanded its fleet with the addition of eight factory new twin-engine EMS helicopters valued at over US$90 million, reaching half-a-billion total fleet value at 2021 year-end. Nova Capital will now focus on the development of its single-engine helicopter, light utility fixed-wing aircraft, and other advanced air mobility operations, in partnership with LCI.
"Over 20 years, we have developed a market-leading leasing operation that specialises in providing asset financing solutions to helicopter and fixed-wing aircraft operators, primarily in onshore mission critical services. We are delighted to conclude this agreement with such a complementary business as LCI. Their proven leasing platform, extensive experience in both the fixed-wing and rotary-wing leasing markets, and immersion in mission-critical helicopter operations, makes them a natural choice. I am looking forward to continuing Nova Capital's journey, under this new set-up and exciting partnership"
- Olivier Piot, Founder and CEO of Nova Capital
LCI has consistently grown in scale and value as it has diversified over time. The lessor's highly experienced management team has built strong relationships with manufacturers, customers and leading financial institutions, and has undertaken in excess of US$8 billion of transactions in the fixed-wing and helicopter markets since its inception in 2004.
About LCI
Since its inception in 2004, LCI has undertaken in excess of US$8 billion of transactions in the fixed-wing and helicopter markets. LCI is owned by Libra Group (www.libra.com), an international business group with 30 subsidiaries active in 35 countries across six continents. Libra Group's subsidiaries are focused on six core sectors: aviation, energy, hospitality, real estate, shipping, and diversified investments.
About Nova Capital
Founded in 2002, Nova Capital is a privately owned aviation investment platform, with offices in Ireland, France, and Portugal. The company provides asset financing solutions to Helicopter and fixed-wing Aircraft operators primarily in the on-shore mission critical services space. Nova Capital has established a wide network of valued business partners including major aircraft and helicopter operators, manufacturers, and also financial institutions.
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AVIATION TECHNOLOGY
Neonode | September 21, 2021
Neonode Inc., is pleased to announce that Shanghai Yihang Internet Technology, a Neonode customer in China, has been selected by Beijing Daxing International Airport to deploy their smart luggage carrier featuring Neonode touch sensor modules.
The smart airport trolley developed by SYIT, called uGO, is a portable luggage carrier that is equipped with a touchscreen display to guide, inform, and entertain passengers with real-time departure and airport information in their native language. The uGO trolley is made for demanding public environments where durability, image quality and power consumption are key. The responsive touch screen display unit is powered by Neonode touch sensor modules. In August 2021, uGO started to be deployed at Beijing Daxing International Airport and the rollout will continue at other Chinese airports during Q4, 2021.
I am happy to have SYIT as a customer and look forward to the market adoption of their competitive product offering as a great addition to our already strong presence of contactless touch solutions in the airport domain.
- Urban Forssell, CEO of Neonode
We are impressed by the versatility and performance of the Neonode products and found it a perfect fit for the uGO airport trolleys. We are now eager to accelerate the rollout at airports.
- Tyler Jin, CEO of SYIT
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