AIR TRANSPORT, BUSINESS AVIATION

American Airlines Announces Agreement to Purchase Boom Supersonic Overture Aircraft, Places Deposit on 20 Overtures

AMERICAN AIRLINES | August 18, 2022 | Read time : 01:53 min

American Airlines Announces Agreement
American Airlines and Boom Supersonic today announced the airline's agreement to purchase up to 20 Overture aircraft, with an option for an additional 40. American has paid a non-refundable deposit on the initial 20 aircraft. Overture is expected to carry passengers at twice the speed of today's fastest commercial aircraft. Boom Supersonic's Overture would introduce an important new speed advantage to American's fleet, which is currently the simplest, youngest and most efficient among U.S. network carriers. Under the terms of the agreement, Boom must meet industry-standard operating, performance and safety requirements as well as American's other customary conditions before delivery of any Overtures.

"Looking to the future, supersonic travel will be an important part of our ability to deliver for our customers, We are excited about how Boom will shape the future of travel both for our company and our customers."

Derek Kerr, American's Chief Financial Officer.

Overture is being designed to carry 65 to 80 passengers at Mach 1.7 over water — or twice the speed of today's fastest commercial aircraft — with a range of 4,250 nautical miles. Optimized for speed, safety and sustainability, Overture is also being designed to fly more than 600 routes around the world in as little as half the time. Flying from Miami to London in just under five hours and Los Angeles to Honolulu in three hours are among the many possibilities. "We are proud to share our vision of a more connected and sustainable world with American Airlines," said Blake Scholl, Founder and CEO of Boom. "We believe Overture can help American deepen its competitive advantage on network, loyalty and overall airline preference through the paradigm-changing benefits of cutting travel times in half." In July, Boom revealed the final production design of Overture, which is slated to roll out in 2025 and carry its first passengers by 2029.

About American Airlines Group
To Care for People on Life's Journey®. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL and the company's stock is included in the S&P 500.

About Boom Supersonic
Boom Supersonic is transforming air travel with Overture, the world's fastest airliner, optimized for speed, safety, and sustainability. Serving both civil and government markets, Overture will fly at twice the speed of today's airliners and is designed to run on 100% sustainable aviation fuel (SAF). Overture's order book, including purchases and options from American Airlines, United Airlines, and Japan Airlines stands at 130 aircraft. Boom is working with Northrop Grumman for government and defense applications of Overture. Suppliers and partners collaborating with Boom on the Overture program include Collins Aerospace, Eaton, Safran Landing Systems, Rolls-Royce, the United States Air Force, American Express, Climeworks, and AWS

Spotlight

Interview with Chris Baur, President & CEO of Hughes Aerospace Corporation, a Houston, Texas-based company and FAA and ICAO certified instrument procedure designer specialized in developing instrument procedures for both airplanes and helicopters in the global aviation market.


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AVIATION TECHNOLOGY

Alef Launches The Alef Flying Car, First and Only Drivable Flying Car with Vertical Takeoff and Landing Fitting Today's Road Infrastructure

Alef | October 21, 2022

Alef Aeronautics, an advanced technology company creating alternative transportation solutions for surging traffic trends, today introduces the Alef "Model A", the only flying car with street driving and vertical take-off. The Alef Model A flying car fits within existing urban infrastructure for driving and parking. The company plans to begin production and initiate first deliveries in Q4 of 2025 The first Alef flying car is available for pre-sale to consumers on October 19, 2022 for $300K, with $150 regular queue or $1,500 priority queue deposit. The Alef Model A flying car has a driving range of 200 miles and a flight range of 110 miles. It has a distributed electric propulsion system, no exposed propellers, extensive software flight stabilization and safety system, elevon stabilization system, and all wheel driving. Key safety components include triple to octuple redundancy of all key components, real-time thousand point diagnostics, pre-flight reject start diagnostics, obstacle detection and avoidance among others. The Alef founding team of Constantine Kisly, Pavel Markin, Oleg Petrov and Jim Dukhovny has over 70 years of experience in engineering and technology development and has been working on the Alef flying car since 2015. It earned early support from distinguished investors and industry veterans, led by Tim Draper (who, among others, was one of the first venture capitalists to invest in Tesla), former head of Defense Advanced Research Projects Agency (DARPA) and Ford Aerospace Dr. Anthony Tether, NBA star Luis Scola, Bugatti designer Hirash Razaghi and others. "The Alef Model is a modern solution for both urban and rural transportation needs in the 21st century because it is the fastest and most convenient transport ever created from the point of origin to the final destination. By enabling consumers to choose driving or flying mode, the Alef flying car allows the optimal path depending on road conditions, weather and infrastructure." Alef's CEO Jim Dukhovny Alef has been test driving and test flying the Alef full-size prototype since 2019.With additional models in development, Alef is working towards the four-person sedan, Alef "Model Z" scheduled for introduction in 2035 priced at $35K. It will be capable of flying 300+ miles with a driving range of 220+ miles. About Alef: Alef, based in Santa Clara, California, is a sustainable electric transportation company designing and developing a road-legal passenger car capable of achieving vertical takeoff and forward flight. Alef's goal is to enable faster, easier commutes and alleviate the burden of urban congestion through the use of proprietary technology that elevates the vehicle safely and quietly above everyday traffic.

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AVIATION TECHNOLOGY

Flexjet Once Again Honored as One of Northeast Ohio’s Best Places to Work

Flexjet LLC, | September 02, 2022

Flexjet LLC, offering travelers access to the world’s most luxurious fleet of private jets, today announced that it has been named by the Employers Resource Council (ERC), producer of the NorthCoast 99 Awards, as one of the 99 best places to work in Northeast Ohio for the 19th year overall and the 14th consecutive year. We are proud to once again be honored as one of Northeast Ohio’s best places to work,“From our inception, we have viewed our people – our flight crews, ground support teams and Owner services staff – as the most important reason for our success. Our Owners and clients fly with us because our professional team members are attuned to providing exceptional service, and we are committed to making this an outstanding place for them to work and build careers.” Flexjet Chief Executive Officer Michael Silvestro. An Exciting Time to Explore a Career in Private Aviation at FlexjetThe recognition comes during a period of unprecedented growth for the private aviation industry, with flight activity in 2022 expected to be 15-20 percent greater than during the pre-COVID year of 2019, according to Argus Traqpak.1 Through the first seven months of 2022, Flexjet’s flight activity was up 30 percent over 2021, which was its busiest year on record. The current growth trend looks to have staying power. A Private Jet Card Comparisons survey of private aviation users found that 53 percent of people who started flying privately during the pandemic plan to continue utilizing private air travel regularly, while 47 percent will continue to use it for at least some of their travel needs moving forward.2“Flexjet has been able to manage the extraordinary growth of the past two years because we recognize that our team members are the foundation of our company, we pay fanatical attention to detail and we take a long-term approach to establishing relationships,” said Flexjet Chief Administrative Officer Bob Sullivan. “These qualities enable us to continue to attract and retain the private aviation industry’s finest professionals by keeping our company among Ohio’s best places to work, now and in the years to come.” Flexjet is responding to this growth through investments in aircraft, facilities and staff. The investments include: Increased staff-with 350 additional pilots to be hired during 2021-22, giving Flexjet a total of 1,150 pilots by the end of this year. Flexjet has been able to recruit pilots quickly because its nonunion status gives it the ability to adjust signing bonuses, pay scales and benefits rapidly in response to growth in flight activity and demand for experienced pilots. Flexjet also is recruiting candidates for positions across the full range of its activities, including other flight crew members, maintenance workers, Owner services and experience representatives, operations staff, flight coordinators, business analysts and information technology specialists. More information on open positions is available at www.flexjet.com/careers. $850 million in new aircraft, including Embraer Phenom 300s, Praetor 500s and 600s, Bombardier Challenger 350s; and Gulfstream G450s and G650s. The Flexjet fleet will expand to 231 aircraft by the end of 2022, approximately 40 percent larger than it was at the end of the first half of 2021. A state-of-the-art global operations control center is under construction adjacent to Flexjet’s current facility at Cuyahoga County Airport outside of Cleveland. The futuristic global operations center will serve as the master logistics and control center for the entire global network of flights operated by Flexjet and its sister companies. The new facility will ensure Flexjet is able to operate the safest and most optimized fleet of aircraft in all of aviation and provide its team members one of the finest environments in which to work. Expanding the footprint of Flexjet-exclusive private terminals with new facilities at Teterboro Airport (New Jersey), Dallas Love Field Airport (Texas) and Miami-Opa locka Airport (Florida). The new facilities bolster the support services provided by fixed-base operators and join existing Flexjet-exclusive facilities at Naples Airport (Florida), Palm Beach International Airport (Florida), Westchester County Airport (New York) and Van Nuys Airport (California). “Today we are in period of unprecedented growth which enables us to provide superior service for those who are seeking the very best in private jet travel for those interested in joining an exciting industry,” said Silvestro. “As responsible stewards of our business, we are prepared to invest for the future at times such as these, when the prospects for growth are at their highest, while ensuring that our investment is carefully aligned with the ebbs and flows of a dynamic market environment such as private air travel.”The NorthCoast 99 is an annual program and event that honors 99 outstanding Northeast Ohio workplaces for their accomplishments during the period January 1-December 31 of each year. It includes a meticulous assessment that addresses factors such as top-performer recruitment, development and retention and distinction in areas including organizational strategy, policies and benefits; talent attraction, acquisition and onboarding; employee well-being; employee engagement and talent development; total rewards; and diversity, equity and inclusion. Headquartered in the Cleveland suburb of Richmond Heights, Flexjet employs more than 2,200 private jet travel professionals, mainly in North America and Europe. The company offers an open and inclusive working environment that provides its team members a career path with opportunities for growth, whether as a member of a flight crew or in one of the many essential supporting roles on the ground. Flexjet also provides a safe, progressive, diverse and rewarding workplace with highly competitive pay and benefits. About Flexjet Flexjet first entered the fractional jet ownership market in 1995. Flexjet offers fractional jet ownership and leasing. Flexjet’s fractional aircraft program is the first in the world to be recognized as achieving the Air Charter Safety Foundation’s Industry Audit Standard, is the first and only company to be honored with 23 FAA Diamond Awards for Excellence, upholds an ARG/US Platinum Safety Rating, a 4AIR Bronze Sustainable Rating and is IS-BAO compliant at Level 2. In 2015, Flexjet introduced Red Label by Flexjet, which features the most modern fleet in the industry, flight crews dedicated to a single aircraft and the LXi Cabin Collection of interiors. To date there are more than 40 different interior designs across its fleet, which includes the Embraer Phenom 300 and Praetor 500, Bombardier Challenger 350, the Gulfstream G450 and G650. Flexjet’s European fleet includes the Embraer Praetor 600 and the Gulfstream G650. Flexjet’s private helicopter division sells fractional, lease, and on-demand charter access to its fleet of owned and operated Sikorsky S-76 private helicopters serving locations throughout the Northeastern United States and Florida. Flexjet is a member of the Directional Aviation family of companies.

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AIR TRANSPORT

BNDES finances Embraer's aircraft production for export

Embraer | November 15, 2022

The Brazilian National Bank for Economic and Social Development (BNDES) approved financing to Embraer S.A. (B3: EMBR3, NYSE: ERJ) for producing and exporting commercial aircraft manufactured by the company. The operation, in the order of R$ 2.2 billion (US$ 400 million), will be carried out through the BNDES Exim Pre-shipment, a direct bank credit line to produce national goods destined for export. BNDES operation reinforces the US$ 650 million revolving credit funding recently announced by Embraer with a foreign financial institutions group. The financing consummation is subject, among others, to the fulfillment of previous conditions established by BNDES and the execution of the respective contract. "Credit operations are important for the resumption of aircraft production by Embraer at pre-Covid-19 pandemic levels and reinforce the strategic partnership between BNDES and Embraer started in 1997, consolidating BNDES support to the aeronautical industry and the export of Brazilian aircraft," Bruno Aranha, director of BNDES. "The longevity of the partnership between Embraer and BNDES illustrates the strength of this relationship that stimulates Brazilian exports and benefits society. Together with other actions that we are carrying out with Brazilian and international financial institutions, this operation reinforces our credibility for access to financial resources that will contribute to executing our growth plan," said Antonio Carlos Garcia, CFO of Embraer. The aviation sector is considered strategic due to the high technology involved, the employment of qualified labor, and the ability to generate innovations with positive impacts on the country's economy, in addition to being a relevant industry for guaranteeing national sovereignty through Defense products. Brazil is a country that can design, manufacture, and export Commercial, Executive, Defense, and Agricultural aircraft worldwide. Since 1997, when BNDES began to support Embraer, the bank has financed approximately US$ 25 billion in exports of the company's aircraft, enabling the export of more than 1,275 units to airlines around the world. During the period, the contracted operations enabled the Brazilian manufacturer to compete in the foreign market on equal terms with its competitors. About BNDES Founded in 1952 and currently linked to the Ministry of the Economy, BNDES is the main instrument used by Brazil's Federal Government to promote long-term investments in the Brazilian economy. Its actions focus on socio-environmental and economic impacts in Brazil. The bank offers special conditions for micro, small, and medium-sized enterprises, as well as social investment credit lines for education and healthcare, family agriculture, basic sanitation, and urban transport. In crisis situations, the bank acts in an anticyclical manner and assists in formulating solutions for the resumption of economic growth. About Embraer A global aerospace company headquartered in Brazil, Embraer has businesses in Commercial and Executive aviation, Defense & Security and Agricultural Aviation. The company designs, develops, manufactures and markets aircraft and systems, providing after-sales service and support to customers.

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AIR TRANSPORT

Constant Aviation Adds Philadelphia-Based Aircraft on Ground Mobile Response Capabilities

Constant Aviation | September 14, 2022

Constant Aviation today announced that it has added to its nationwide AOG (Aircraft on Ground) mobile response network with a new Philadelphia-based group that will focus on servicing southeastern Pennsylvania and southern New Jersey. It is the second new location announced this year after the new station in Salt Lake City. Constant Aviation now operates 28 AOG teams nationally, up by more than 30 percent from the 21 teams in 2020. “In my 25 years in the private aviation industry, this continues to be one of the most robust periods we have seen and that has generated record demand for our services,The increase in AOG service locations is intended to help meet current demand, but mobile AOG services have proven sustainable in all market conditions as aircraft always need on-demand service at the hundreds of smaller airports that lack substantial maintenance capabilities.” David H. Davies, Constant Aviation’s Chief Executive Officer Davies said that Constant Aviation is bolstering its capabilities by expanding hiring, not only in its newest locations – Philadelphia and Salt Lake City – but also in such high-demand areas as California, Texas, Florida, the Chicago and Scottsdale metro areas and the greater Northeastern U.S. “We’ve always said our most important asset is our workforce of trained, talented technicians, and that has never been more true than during the current surge in business,” said Davies. “We’re looking to expand our team by recruiting new technicians through a range of channels, and offering not only opportunity but also the most competitive compensation and the best working conditions in the industry.” Constant Aviation Steps Up Technician Recruitment Efforts Constant Aviation recently enhanced its Maintenance Technician Apprenticeship Program, which enables applicants without military or college training to participate in a two-year aviation services program and earn the FAA Airframe Certification, a first step in a career in aviation services. Program participants learn by performing technical tasks alongside veteran technicians and participate in classroom and lab work all while earning a steady income. Constant Aviation covers the cost of all training and certification testing for the program.In addition to the apprenticeship program, the company is recruiting established technicians by offering a $15,000 signing bonus for military veteran candidates, a $2,000 signing bonus for other successful technical position candidates and grants of up to $8,000 to successful aircraft-on-ground (AOG) technician candidates following the completion of their first year with the company. Constant Aviation also boosted recruitment and retention by increasing pay to all technicians by 10 percent, offering tuition reimbursements and increased paid time off and expanding career-enhancing training opportunities, with training engagements up 150 percent. AOG a Critical Part of Aircraft Maintenance Services Constant Aviation’s 28 AOG mobile teams now support 86 aircraft models from 14 manufacturers, and each AOG vehicle is fully equipped and supplemented with expanded tooling strategically placed around the country, so aircraft can be serviced wherever they are located, whether in a hangar, at an FBO or on a ramp. In addition to its nationwide network of mobile technicians, Constant Aviation operates full-service aircraft maintenance facilities at Cleveland Hopkins International Airport (ICAO: KCLE) and Orlando Sanford International Airport (ICAO: KSFB) that provide airframe and engine maintenance, major repairs, avionics, interiors and painting. About Constant Aviation Constant Aviation specializes in aircraft and engine maintenance, major repairs, avionics, interiors and paint. In addition, it offers mobile response services through its AOG division, and accessory and composite services through its Nextant Aerospace division. With more than 15 years of expertise in a comprehensive array of business jet airframes, Constant Aviation has raised the bar in aircraft maintenance expectations by focusing on quality, always. Constant Aviation is the official aircraft maintenance and AOG support of the NHRA and the title sponsor of the NHRA Factory Stock Showdown class.

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Spotlight

Interview with Chris Baur, President & CEO of Hughes Aerospace Corporation, a Houston, Texas-based company and FAA and ICAO certified instrument procedure designer specialized in developing instrument procedures for both airplanes and helicopters in the global aviation market.

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