Air Force announces FY19 Aviation Bonus expansion for Air Battle Managers

af | April 22, 2019

Air Force announces FY19 Aviation Bonus expansion for Air Battle Managers
The fiscal 2019 Aviation Bonus program continues to support aircrew retention efforts across the Air Force by offering experienced aviators bonuses for signing tier-based contracts, ranging from three to 12 years of continued service.
Under the fiscal 2017 National Defense Authorization Act, Congress raised the annual maximum aviation bonus from $25,000 to $35,000 and required the Air Force to develop its aviation bonus program based on a business case analysis. The Air Force evaluates its rated inventory every year to ensure the AvB program is tailored to meet the service’s needs. This new expansion will increase the pool of air battle managers eligible for the bonus by 595.Previously, the only eligible ABMs were those who had completed their initial undergraduate flying training service commitment or those who were retirement eligible.Aviators whose contracts have expired or who have never signed a previous ABM Agreement may take advantage of the following bonus amounts and contract lengths: Annual payments of $20,000 for contract lengths of five years, totaling $100,000.  Must have fewer than 19 years of total active federal military service at the time of signing a fiscal 2019 AvB Agreement. No contracts may extend beyond 24 years of aviation service.

Spotlight

NRDC thanks the Packard Foundation for the generous contributions that made this report possible. NRDC acknowledges the role of Patrick Mazza, MROC (Independent consultant) in preparing this report. The author of this report would like to thank the following individuals for their contributions toward reviewing an early draft.

Related News

AVIATION TECHNOLOGY

Vance Street Capital Partners with Leading General Aviation PMA Manufacturer McFarlane Aviation

Vance Street Capital LLC | October 21, 2021

Vance Street Capital LLC a Los Angeles-based private equity firm, today announced the acquisition of McFarlane Aviation, Inc. ("McFarlane"), the leading designer and manufacturer of aftermarket PMA parts for the general aviation industry. This proprietary transaction represents the fourth platform investment out of Vance Street Capital III L.P. and leverages the firm's expertise in aerospace and highly engineered components. Terms of the transaction were not disclosed. Founded in 1970 and headquartered in Baldwin City, Kansas, McFarlane is a family-owned business that designs, manufactures, and distributes more than 30,000 consumable parts in the United States and internationally for the general aviation market, specifically light single engine and turboprop aircraft. McFarlane's proprietary portfolio of PMA parts consists of approximately 3,000 parts used across Cessna, Piper, Grumman, Beechcraft and Ag-Cat airplanes. The parts are sold to over 40,000 unique customers through McFarlane's website and its widely distributed catalog. McFarlane was founded by Dave McFarlane, who was subsequently joined by his children, Dan and Cheryl. Together, they built McFarlane into the market leader it is today. As part of the transaction, the McFarlane family will retain a meaningful ownership position alongside Vance Street. "Finding a partner that could come in and provide not only growth-based resources, but also one that valued the culture and employee base our family has built over the past several decades was an important decision factor in finding our next partner," said Dave McFarlane. "Vance Street truly understood and respected those aspects of our business." "Vance Street is honored to have the opportunity to partner with an iconic business like McFarlane,Over the last 50 years, Dave and his team have built a truly great company well known as a leader in its market. With Vance Street's additional support and capital, McFarlane is expected to accelerate its already impressive growth trajectory." Nicholas Janneck, Principal at Vance Street "This transaction is a perfect example of our strategy to partner with family-owned businesses that are industry leaders in a niche market," said John LeRosen, Partner at Vance Street. Paul Hastings LLP acted as legal advisor to Vance Street. Debt financing was provided by BMO Sponsor Finance. Dentons served as legal advisor to McFarlane and the McFarlane family. About Vance Street Capital LLC Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the medical, life science, aerospace, defense, and industrial sectors. For over three decades, Vance Street's partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio.

Read More

BUSINESS AVIATION

ALLEGIANT ANNOUNCES PURCHASE OF 50 BOEING 737 AIRCRAFT

Allegiant Travel Company | January 06, 2022

Allegiant Travel Company (NASDAQ: ALGT) today announces an agreement with Boeing to purchase 50 new 737 MAX aircraft as part of the airline's ongoing efforts to modernize and expand its fleet. The multi-year deal – Boeing's first with an ultra-low-cost carrier in the United States – includes the purchase of 737-7 and 737-8-200 models, as well as options to purchase 50 additional aircraft, giving the company flexibility for future growth. Allegiant will take delivery of an initial group of planes in 2023, with the remaining deliveries scheduled throughout 2024 and 2025. "Our approach to fleet has always been opportunistic, and this exciting transaction with Boeing is no exception, While the heart of our strategy continues to center on previously-owned aircraft, the infusion of up to 100 direct-from-the-manufacturer 737s will bring numerous benefits for the future – including flexibility for capacity growth and aircraft retirements, significant environmental benefits, and modern configuration and cabin features our customers will appreciate." -Maurice J. Gallagher, Jr., Allegiant chairman and chief executive officer. Allegiant's unique ULCC business model has been primarily focused on high quality used aircraft to maintain lower fixed costs. However, the pandemic recovery cycle has brought to Allegiant unique opportunities to acquire new equipment, including this aircraft-family solution, which will add significant economic and operational benefits for years to come. The arrangement with Boeing will allow Allegiant to replace aircraft that are scheduled to retire while also expanding the fleet to maintain the company's projected 10 percent-plus annual growth rate. "We are thrilled that Allegiant has selected Boeing and the 737 MAX as they position themselves for future growth, improved efficiency and operational cost performance, This deal further validates the economics of the 737 MAX family in the ULCC market and we're excited to stand alongside Allegiant as they integrate these new airplanes into their fleet." -Stan Deal, Boeing Commercial Airplanes president and CEO. The Boeing 737s come equipped with several innovative in-cabin features – such as Boeing Sky Interior and Space Bins – that create a feeling of spaciousness, provide more leg room and make storing and retrieving carry-on luggage easier for passengers. Additionally, the new aircraft will burn approximately 20 percent less fuel than older Airbus A320 family aircraft. while also offering increased seating capacity. The aircraft will be powered with CFM LEAP 1-B engines. Allegiant has signed a 12-year exclusive maintenance agreement with CFM for the LEAP engine fleet, which will also bring support for the existing Airbus fleet. Allegiant currently operates 108 Airbus A319s and A320s and will continue sourcing A320s in the used market. Allegiant – Together We Fly™ Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket.

Read More

Delta May Cut Some August Flights In Response To COVID Cases

Delta | June 26, 2020

Delta’s CEO has joined other airline bosses in tempering expectations of a fast rebound in flights. Delta has added flights over the summer after hitting record capacity lows earlier this year. But the airline thinks the recent additions are about as much as the market can absorb.

Read More

Spotlight

NRDC thanks the Packard Foundation for the generous contributions that made this report possible. NRDC acknowledges the role of Patrick Mazza, MROC (Independent consultant) in preparing this report. The author of this report would like to thank the following individuals for their contributions toward reviewing an early draft.