Airbus and Bombardier to close C Series partnership on July 1; GECAS launches START

Airline Economics | June 08, 2018

CSALP, based in Mirabel, was originally established between Bombardier and IQ, and will now benefit from Airbus’ global reach, scale, procurement organization and expertise in selling, marketing and producing the C Series aircraft. As previously announced, Bombardier will continue with its current funding plan of CSALP. Bombardier will fund the cash shortfalls of CSALP, if required, during the second half of 2018, up to a maximum of US$225 million; during 2019, up to a maximum of US$350 million; and up to a maximum aggregate amount of US$350 million over the following two years, in consideration for non-voting participating shares of CSALP with cumulative annual dividends of 2%. Any excess shortfall during such periods will be shared proportionately amongst CSALP’s Class A shareholders. Airbus will consolidate CSALP effective from July 1, 2018, onwards. Further financial information on the transaction will be provided later this year.

Spotlight

Optimize your safety, your time and your money. Jeppesen offers a full range of products and services for your permanent destinations, as well as for exceptional locations for ferry flights or vacations.

Spotlight

Optimize your safety, your time and your money. Jeppesen offers a full range of products and services for your permanent destinations, as well as for exceptional locations for ferry flights or vacations.

Related News

Waltzing Matilda Aviation Approved For DCA Flights. Business In July Running At Over 3 Times Prior Year's Level

Waltzing Matilda Aviation LLC | September 22, 2020

Waltzing Matilda Aviation LLC (WMA) announced today that it has been granted TSA approval to operate its on-demand jet charter services into Washington DC's Ronald Reagan Airport. The move means significant improvement to convenience for WMA's clients to the DC area, with the ability for future clients to avoid having to arrive at Dulles Airport. Given this select accessibility, WMA believes it will see a further uptick in its business to the DC area, a major destination for Boston-based business travelers.

Read More

BUSINESS AVIATION

KKR Introduces AV AirFinance, A New Commercial Aviation Lending Platform

KKR, AV AirFinance | June 14, 2021

KKR, a global investment firm, announced AV AirFinance Limited, a global commercial aviation loan servicer founded by a team of seasoned industry professionals in collaboration with KKR. The new secured loan servicing platform includes stable, long-term capital with decades of experience structuring commercial aircraft loan transactions to provide unique and innovative financing options to commercial aviation clients worldwide. KKR and AV AirFinance have agreed to buy a nearly $800 million portfolio of aviation loans from CIT Group to assist with the launch, which includes more than 50 loans for around 60 commercial aircraft. These loans in the portfolio have an average yield in the mid-single digits and a remaining duration of four years. Chief Executive Officer Siggi Kristinsson leads AV AirFinance. He is an industry veteran who most recently co-founded and served as CEO of Volito Aviation Services AB. This firm provides debt origination and consulting services to Goldman Sachs and other financial institutions. Mr. Kristinsson is assisted by a seasoned team of aviation financing experts with decades of expertise in secured lending totaling more than $25 billion in value through many market cycles. Ryan Jasinski joins AV AirFinance from CIT as part of the associated portfolio acquisition and will continue to focus on loan origination in the Americas. Per Waldelof, former president of PK AirFinance, works as a consultant for AV AirFinance, assisting loan origination and other elements of the company's operations. AV AirFinance will provide services to diverse commercial clients, including airlines, cargo operators, lessors, manufacturers, and investors, throughout the ownership cycle, including PDP, acquisition, leasing, conversion, and tear down. AV AirFinance offers worldwide origination skills and the financial capability to arrange longer-term, flexible, and competitive financing for a wide variety of single aircraft and extensive portfolio deals through its partnership with KKR. Separate accounts controlled by KKR are funding the portfolio acquisition from CIT. AV AirFinance is KKR's latest aviation investment, following previous Altitude Aviation, Altavair, KKR DVB Aviation Capital, K2 Aviation, DCAL Aviation, Wheels Up, Global Jet Capital, and JetEdge. About KKR KKR is a global investment firm that specializes in alternative asset management, capital markets, and insurance solutions. KKR seeks to achieve excellent investment returns by using a patient and disciplined approach to investing, employing world-class people, and fostering growth in its portfolio businesses and communities. KKR manages hedge funds and sponsors investment funds in private equity, credit, and real estate. The Global Atlantic Financial Group operates KKR's insurance companies, including retirement, life, and reinsurance products. References to KKR's investments might consist of the activities of its sponsored funds and insurance subsidiaries. About AV AirFinance Limited AV AirFinance Limited is a commercial aviation loan servicer founded in collaboration with KKR. Airlines, lessors, manufacturers, and investors can all benefit from AV AirFinance's secured financing solutions. AV AirFinance's team has decades of expertise structuring commercial aircraft loans. Due to its partnership with KKR, it has the financial strength and capacity to provide competitive financing and the knowledge to engage in the worldwide commercial aviation lending space effectively. AV AirFinance has offices in Ireland and the United States.

Read More

AIR TRANSPORT

Iris Automation Announces the Release of Casia X, a Groundbreaking Detect and Avoid System with Improved 360 Degree Performance

Iris Automation | April 21, 2021

Casia® X, Iris Automation's onboard multi-camera detect and avoid (DAA) system, will be ready for shipment on May 21, 2021. Casia X is the only option for commercial drones and unmanned aircraft that uses computer vision technologies to have a complete 360° radial tracking capability. Casia X, formerly known as Casia 360, is an extension of the Casia product line that provides some major improvements: - • Based on almost 16,000 total real-world manned aircraft encounter flight experiments, the probability of detection performance was increased by 7%, with a 12X reduction in false detections. • Increased average system uptime due to improved software reliability. • A modern architecture that will support camera configurations ranging from one to six units to provide weight and field of view flexibility. • Visual aircraft encounter replay tooling and log files to assist in the analysis of detections and air risk. Casia is also being tested as part of a global civil aviation authority program, including the FAA's BEYOND initiative, which aims to advance complex BVLOS UAS operations in the US National Airspace System. Iris has so far collaborated with four lead participants as part of the BEYOND Program: the City of Reno, the Kansas Transportation department, the University of Alaska Fairbanks (ACUASI), and the Choctaw Nation. Iris had previously collaborated with both of these key players in the FAA's UAS Integration Pilot Program (IPP), which ended in October 2020. Iris Automation is dedicated to improving critical detection technologies and collaborating with global policymakers and regulators to establish effective BVLOS safety standards. The first Casia X shipments will be prioritized for pre-ordered customers. Reservations for limited output slots are still open. Iris will hold a question-and-answer session about Casia X's production availability on April 29th, 11:00 a.m. PT. About Iris Automation Iris Automation is a safety avionics technology company that pioneers Detect-and-Avoid (DAA) systems and aviation policy services that empower customers to develop scalable Beyond Visual Line of Sight (BVLOS) operations for commercial drones, unlocking the capacity of numerous industries. Iris' DAA system operates entirely onboard the aircraft, enabling it to travel safely over long distances with no human intervention. They collaborate with civil aviation authorities around the world to develop regulatory mechanisms that ensure BVLOS operations are secure, including several FAA BEYOND UAS Integration Programs and Transport Canada's BVLOS Technology Demonstration Program. Iris is recognized by AUVSI as the number one Technology and Innovation Leader for 2020.

Read More