Aerospace, Commercial Aviation, Aviation Technology
AAR CORP | January 04, 2024
AAR CORP. a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed a multi-year contract extension and expansion for flight-hour component support services with ASL Aviation Holdings DAC (ASL Airlines).
The contract extends and expands AAR's existing component support agreement with ASL Airlines Belgium to include ASL Airlines France, ASL Airlines United Kingdom, and ASL Airlines Ireland. AAR currently supports 28 ASL aircraft, which is expected to increase to 65 under the new agreement. AAR's Integrated Solutions' segment will provide 24/7 component support services for the airlines' Boeing 737 fleets.
For more than a decade, ASL has benefited from AAR's proven excellence in delivering flight-hour support services and associated cost efficiencies, which enable the on-time performance of ASL's operations," said James George, ASL Aviation Holdings' Head of Procurement. "We are delighted to expand our partnership with AAR to include additional ASL airlines."
"AAR's strategically located warehouses and support teams expedite the delivery of components and reduce maintenance turnaround times for ASL," said Chris Fiddes, AAR's Vice President of Commercial Programs. "We look forward to the expansion of our relationship as ASL grows and modernizes its fleet.
Aerospace, Defense and Space, Aviation Technology
Newswire | January 22, 2024
Liberty Defense Holdings Ltd. a leading technology provider of Artificial Intelligence (AI) based next generation detection solutions for protecting secure locations against prohibited weapons and other threats, is pleased to announce that the HEXWAVE™ system will be deployed at an international airport in the Philippines.
The sale was made by the Company's international distributor and deployment is scheduled for summer of 2024. The screening will be at the forecourt of the airport to screen people entering the terminal.
Liberty's HEXWAVE product, a next generation, walkthrough, contactless threat detection system for concealed metallic and non-metallic objects, uses AI to provide automated decisions to security operators to process people at speed. The company started shipping HEXWAVE to customers in September 2023 and the backlog of systems has grown to over 30 systems.
"We continue to see an increase in demand from airports on a global basis for enhanced screening at various checkpoints and entrances," said Bill Frain, CEO of Liberty Defense. "In addition to screening for aviation workers, airports are taking advantage of HEXWAVE's mobility and scanning individuals as they enter the terminal as part of an added and layered security approach."
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Firehawk Aerospace | January 08, 2024
Firehawk Aerospace, a market leader in hybrid rocket engine and solid rocket motor (SRM) propulsion, has secured a Small Business Innovation Research (SBIR) Phase III contract from Army Applications Laboratory (AAL). This contract underscores Firehawk's advancements in rocket propulsion and its unique capability to address critical challenges in conventional SRM supply chains.
The SBIR Phase III contract accelerates Firehawk's mission to reshape SRM propulsion, focusing on eliminating supply chain bottlenecks and bolstering system stability. Will Edwards, CEO of Firehawk Aerospace, comments, "The Phase III funding reflects our team's ability to push aerospace technology boundaries, positioning Firehawk at the forefront of innovation in tactical weapon systems."
Distinguishing itself from traditional systems, Firehawk's hybrid rocket engines boast a rapid manufacturing timeline of weeks, not years. Manufactured and tested in Texas, this approach enables faster testing and innovation at a reduced cost, in line with Firehawk's commitment to national security. By sidestepping traditional materials, Firehawk mitigates supply chain vulnerabilities, creating a resilient system ready for evolving threats.
The U.S. Army, recognizing the need for propulsion systems unaffected by supply chain issues, supports Firehawk Aerospace. The development focus includes creating analogs for key U.S. Army systems like the Guided Multiple Launch Rocket (GMLR), FGM-148 Javelin, and FIM-92 Stinger.
Firehawk Aerospace's propulsion systems aim to optimize mission profiles with extended range, reducing risks to soldiers and maintaining the U.S. Army's strategic advantage. The SBIR Phase III contract signifies a significant step forward in advancing rocket propulsion technology, addressing supply chain challenges and enhancing tactical weapon system capabilities for the U.S. Army.
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."