COMMERCIAL AVIATION

Atlas Air Worldwide Purchases Four Boeing 777 Freighters

Boeing | January 07, 2022

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Boeing [NYSE: BA] and Atlas Air Worldwide today announced an order for four 777 Freighters. The order, placed in December, rounds out a record-setting 2021 for Boeing's freighter family including new-production and converted models. Boeing has forecast that the global freighter fleet will grow by 70% in the next 20 years, with freight carriers such as Atlas Air supporting a rapidly expanding global e-commerce business and evolving supply chains.

"We are excited to expand our fleet and service offerings for our existing and prospective customers with these four new 777s. With the best team in the industry as well as our focus on innovation and prudent fleet management, Atlas is serving the evolving needs of the global supply chain and delivering value for our customers,"

- John W. Dietrich, Atlas Air Worldwide president and CEO.

Boeing's market-leading 777 Freighter is the world's largest, longest-range and most capable twin-engine freighter, with the lowest trip cost and highest reliability of any large freighter. With a range of 4,970 nmi (9,200km), the 777 Freighter can carry a maximum revenue payload of 102 tonnes (224,900 lb), while reducing fuel use and CO2 emissions compared to prior airplanes. This capability and exceptional efficiency translate into significant savings for cargo operators, with fewer stops and associated landing fees.

"We are honored that Atlas Air Worldwide, as a global leader in airfreight, has once again selected to grow with Boeing and our freighter family. These new 777 Freighters provide Atlas with more capacity, fuel efficiency and operational flexibility for its customers, As air cargo demand continues to grow, we're confident that the efficiency, capability and flexibility of our freighter family will meet customer needs now and in the future."

- Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing.

Through November, Boeing had surpassed the previous freighter record including 80 orders for new production freighters and more than 80 orders for converted models. The company will announce full-year 2021 orders and deliveries on January 11.

Atlas Air currently has 14 777s and is the world's largest operator of 747 Freighters, with 49 in its fleet. These two models, in particular, are designed to partner seamlessly, enabling operators to transfer tall and outsized cargo loads easily between the two on 3-meter (10-foot) tall pallets. The cargo and passenger carrier also operates a fleet of 767 and 737 airplanes.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity.

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AEROSPACE

Magellan Aerospace Signs Multi-Year F-35 Lightning II Contract

Magellan Aerospace Limited | November 25, 2022

Magellan Aerospace Corporation announced today, the award of a multi-year contract from Lockheed Martin Corporation (“LMCO”) for complex machined titanium components for all three variants of the F-35 aircraft. This multi-million dollar contract will be carried out at Magellan Aerospace’s facility in Kitchener, Ontario over the period of 2023 to 2027. The contract is for shipsets of machined wing tie bars for the aircraft’s leading edge flap. Magellan’s Kitchener facility has industry-leading expertise in titanium machining operations and world-class machining capability, with an emphasis on high speed machining of hard metals such as titanium, Inconel and stainless steel. This latest contract is a continuation of a long-established relationship with LMCO on the global F-35 fighter aircraft program. Magellan’s Kitchener facility was the first international partner on the F-35 program to deliver parts to the program in late 2003. Prior to these deliveries, Kitchener had made significant investment in both equipment and technology that proved to be pivotal in securing its role on the program. Mr. Haydn Martin, Vice President, Business Development, Marketing and Contracts said, “Magellan earned a role in the industrial supply chain for the Joint Strike Fighter program early in the program as the Canadian government was a partner in the program at its inception in 1997. Magellan has benefited from the opportunity to establish advanced manufacturing technologies in our facilities and is pleased to apply these innovations to support the production of the global F-35 fleet by providing these complex structural components”. The F-35 is developed, produced, and supported by an international team of government allies and aerospace industry leaders. The F-35 Program is managed by the Pentagon’s F-35 Joint Program Office, the U.S. Air Force, the U.S. Marine Corps and the U.S. Navy are all procuring and operating F-35s. There are eight international program partners — the U.S., United Kingdom, Italy, Netherlands, Australia, Norway, Denmark and Canada. Eight Foreign Military Sales customers are also procuring and operating the F-35 ­— Israel, Japan, South Korea, Poland, Belgium, Singapore, Finland, and Switzerland. Lockheed Martin serves as the prime contractor with a global supply chain of more than 1,900 companies based in the United States and in every nation acquiring the F-35. About Magellan Aerospace Corporation Magellan Aerospace Corporation is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.

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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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COMMERCIAL AVIATION

CDB Aviation Leases Six A320neos to Air India

CDB Aviation | November 14, 2022

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced on the sidelines of Airline Economics Growth Frontiers Asia Pacific 2022 conference the signing of lease agreements for a fleet of six Airbus A320neo aircraft with India’s leading airline, Air India. CDB Aviation is among the first aircraft leasing companies to secure the placement of Air India’s additional A320neo aircraft under the recently announced multi-stage transformation plan since the purchase of the airline by Tata group, which aims to increase the carrier’s fleet and help it boost both domestic and international operations. The aircraft will be delivered in the second half of 2023. “Our commercial team is delighted to have worked closely with Air India to help solve their fleet requirements with these new Airbus narrowbody aircraft from our orderbook, These fuel-efficient, new generation aircraft are well suited to support Air India’s fleet revitalization initiatives, positioning the airline for sustained growth and profitability.’’ Ryan Barrett, CDB Aviation’s Head of Asia Pacific. Commenting on the agreement, Nipun Aggarwal, Chief Commercial Officer of Air India, said: “This is an important agreement, which will help us to strengthen our fleet with state-of-the-art aircraft. This will boost our connectivity, especially on the short and medium-haul routes, and is an important step ahead in our transformation journey. India is an increasingly important region for CDB Aviation, being the second largest Asia Pacific market for new aircraft deliveries, with nearly 1,000 Boeing and Airbus jets in its orderbook,” explained Peter Goodman, CDB Aviation’s Chief Commercial Officer. “Our commercial team remains steadfast in its outreach efforts across Asia Pacific, leveraging our platform’s resources and scale to support the region’s airlines in restoring their networks and growing their fleets. About Air India Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has an extensive domestic network and has spread its wings beyond to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South- East Asia, Australia and the Gulf. Air India is a member of Star Alliance, the largest global airline consortium. After 69 years as a government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. The present management at Air India is driving the five-year transformation roadmap under the aegis of Vihaan.AI to establish itself as a world-class global airline with an Indian heart. www.airindia.in About CDB Aviation CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), a 36-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.

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AIR TRANSPORT

Artemis Aerospace unveils some of the best upcycling ideas for aircraft parts

Artemis Aerospace Ltd | November 17, 2022

Recycling aircraft parts isn't a new concept in the aviation industry and, for many years, refurbishing parts to fit on other aircraft or repurposing them to produce different products, such as circuit boards, has been the industry standard. In fact, according to AFRA (Aircraft Fleet Recycling Association), it is estimated that around 80% to 85% of aircraft parts are recycled when an aircraft reaches retirement. However, new and alternative ideas for reusing aircraft parts are becoming more commonplace. Homeware collections Airbus and Lufthansa are among some of the companies breathing new life into aircraft parts by creating designer furniture and homeware collections for modern living. The project called A Piece of Sky, which was supported by Airbus and its Airbus BizLab initiative, was the first to start transforming the manufacturer's parts into furniture. These include armchairs, coffee tables and lamps created from things such as cabin windows and test flight storage data modules. They have also created Airbus branded surfboards out of recycled carbon. In October 2020, Lufthansa launched its Upcycling Collection 2.0 – a range of homeware products made from retired aircraft parts. The collection features furniture, sculptures and accessories built with parts from a decommissioned A320. Key products include a flying coffee table created from landing flaps and a wall bar formed from an aeroplane window mounted onto a wooden box. Aviation themed accommodation Ideal for aviation enthusiasts or those looking for something a little bit different during a flight stopover, Jumbostay's converted Boeing 747, located at Arlanda Airport in Stockholm, offers the chance to sleep in a jet without leaving the ground. Providing accommodation and breakfast, the unique hotel offers a range of rooms, from suites with private showers to dormitories for up to four people. The Cockpit Suite even includes a fully preserved flight deck featuring all the original instruments, so you can play pilot to your heart's content! Christmas tree ornaments Whether you're a committed aviation enthusiast or simply fancy something a little bit different, then how about using surplus engine parts and accessories to add an effective and interesting festive flourish to your Christmas tree? From washers, fasteners and rivets to hinges, grommets and seals, parts can be repurposed quickly and easily by simply adding some ribbon or coloured string. Strike a pose on a private jet 'selfie set' Ever wanted to fly by private jet? It might not be quite the same thing, but for a little bit of light-hearted fun, take a trip to the Selfie Factory at the O2 in London, where you can spend the day make-believing you are living the good life. Comprising a variety of sets, including the interior of a private jet, the Selfie Factory allows guests to take as many photos as they like and even offers a changing area so you can don a different outfit each time. Drinks bars Raise a glass at your very own custom-built bar that's been crafted out of upcycled aircraft fuselage. Created by SkyPod, bars are available in a wide range of colours, finishes and worktop options. All bars come complete with frosted or unfrosted windows, remote control RGB LED lights and a certificate of the plane number and its history. Cheers!

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