Aerospace, MRO, Cargo Management
PR Newswire | January 16, 2024
TAT Technologies Ltd. a leading supplier of products and services for the commercial and military aviation industries and the ground defense industries, announces a new contract with an international air carrier.
This contract is a result of a very successful partnership between the companies over the last several years which led the parties to sign a global fleet contract. As part of this contract, TAT will provide MRO services to the airline's GTCP331 model APUs. TAT estimates total revenues from this contract to be $10 million ($2 million per year).
By signing this contract, we further advanced our dominating position as the leading APU 331-200 MRO in the market serving the widely utilized B757/767 fleet by providing APU 331-200 repairs with a reputation for quality and on time delivery to this important market.
In 2020 and 2021, TAT (through its fully owned subsidiary, Piedmont Aviation Components based in Greensboro North Carolina) signed multiple strategic contracts with the Fortune 100 multi-national aerospace company Honeywell. Under these contracts, TAT was awarded a 10-year license for repair and overhaul of APUs for Boeing and Airbus's key platforms, including B737, B777, B767/757 and A320 aircraft as well as the C17 which is used for military purposes. The Company is also a global provider for APUs leases to airlines across multiple commercial platforms with an additional exclusive 10 yr. agreement for the B777 aircraft, with Honeywell. Piedmont has completed its facility upgrades required to commence MRO operations for the GTCP331-500 (B777) and GTCP131-9 (A320/B737).
Igal Zamir, CEO of TAT stated: "We are very pleased with this contract, which comes after several years of very fruitful relationship. By signing this contract, we established our domination in the commercial segment of MRO for the APU331-200.
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Aviation Technology
Jet Linx | January 03, 2024
Jet Linx, a locally-focused private aviation company, announced its 22nd location at Salt Lake City International Airport. With established Base locations in Denver and Scottsdale, the new Salt Lake City Base strengthens the Company's presence in the Mountain West region and provides localized private jet services to Aircraft Owners and Jet Card Members throughout Utah.
"We're thrilled to bring Jet Linx's extraordinary standard of customer service to Aircraft Owners and Jet Card Members in the Salt Lake City area," said Brent Wouters, Jet Linx CEO. "Salt Lake City and the great state of Utah attracts national and international visitors year-round and we look forward to serving as Salt Lake City's most trusted resource for private jet travel and Aircraft Management services."
The establishment of Jet Linx's Salt Lake City Base is emblematic of the Company's continued national growth. Jet Linx opened its first private terminal in 1999 in Omaha, NE. In the 24 years since, the Company has expanded to 22 Bases nationwide. In addition to growing Base locations, Jet Linx continually invests in its operations to provide its customers with state-of-the-art facilities and the highest quality customer experience. In 2022, Jet Linx Scottsdale moved to a new, purpose-built facility in response to increasing local demand.
"We're singularly focused on providing the highest quality, customized, local service to our customers supported by our national infrastructure and economies of scale," said Dan Pasque, Jet Linx Regional Base President. "We look forward to providing the Salt Lake City market access to our fleet of 100+ aircraft, while engaging one-on-one with our expert team based right at their home airport to meet their aviation needs."
The Company plans for further national expansion as part of it's strategic growth initiative to increase fleet size and grow Jet Card clientele. In 2024, the Company will celebrate its 25th year in business.
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Business Aviation, Commercial Aviation, Aviation Technology
PR Newswire | January 30, 2024
CDPQ, a global investment group, and SMBC Aviation Capital, the world's second largest aircraft leasing company, announced today that they have finalized an agreement to create a USD 1.5-billion global aircraft financing and leasing platform dedicated to modern, fuel-efficient NextGen aircraft.
This new platform will focus on worldwide opportunities in new technology aircraft and target an initial deployment of USD 500 million per year, over three years. SMBC Aviation Capital will source transactions and, under a sistership condition, invest in opportunities alongside the platform. SMBC Aviation Capital will also act as servicer of the platform, which will operate under the banner Maple Aircraft Company Holdings Limited.
"Building on CDPQ's experience in the aircraft financing industry, through this new platform, we will continue to provide flexible financing solutions for airlines to meet their future fleet requirements," said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. "We're delighted to partner with SMBC Aviation Capital, an industry leader with a successful track record, who has demonstrated their commitment to sustainable aviation, to find the best opportunities in the commercial aircraft industry and to achieve attractive risk-adjusted returns over the long term."
"We are pleased to partner with CDPQ on this new platform to benefit our airline customers worldwide," said Peter Barrett, Chief Executive Officer at SMBC Aviation Capital. "CDPQ is an experienced, well respected, global investment group, which is aligned with our own views on capital allocation and a sustainable aviation industry. We look forward to working with our new partners over the coming years on this collaboration."
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