Export-Import Bank of the United States to Provide $125 Million to GE Aviation and Spirit AeroSystems

Spirit AeroSystems | January 15, 2021

The Export-Import Bank of the United States has consented to ensure two financing bargains that will give $125 million to help aerospace work at GE Aviation and Spirit AeroSystems.

One of the deals is proposed to infuse liquidity into the striving US aerospace supply chain, while the other will help Australian airline Qantas buy seven GE motors, says the bank.

The ensures will "support" some 500 US occupations and help the "hard-hit aviation" area in the midst of the Covid-19 pandemic and related government travel limitations, says Ex-Im. Those variables, it adds, have confined the accessibility of credits through private banks.

In particular, Ex-Im's top managerial staff consented to back 90% of $40 million in financing from Bank of America to providers of Wichita-based Spirit AeroSystems. The supports will likewise profit Spirit's associated business in Kinston, North Carolina. Spirit makes fuselage parts to an expansive scope of producers, including Airbus and Boeing.

That arrangement will empower Spirit to "pay its US-based providers", supporting 40 organizations situated in California, Florida, Iowa, Kansas, Montana, Oklahoma, Texas and Washington, says Ex-Im.

Spotlight

International Consolidated Airlines Group is one of the world's largest airline groups, flying to 268 destinations and carrying around 105 million passengers each year. IAG combines leading airlines in Ireland, the UK, and Spain, enabling them to enhance their presence in the aviation market while retaining their individual brands and current operations.


Other News
AVIATION TECHNOLOGY

Aloft Technologies Launches Geospatial Management Tools for Its Drone Data Network

Aloft | May 12, 2022

Aloft Technologies announced the introduction of the Aloft Geo Portal that aims to close the gap between FAA airspace rules and local ground rules for drone operations nationwide. Verified users of the portal will be able to upload and manage airspace and ground space advisories that once authenticated, will publish to the Aloft data network including all Aloft web and mobile apps including B4UFLY. In the initial phase of introduction, new submissions will publish on a rolling basis with the first set of submissions targeted to publish in June. An authoritative data set that covers all air and ground requirements is a necessity for all drone flight, and fundamental to the future of drone delivery and air taxi use cases. "We're connecting the dots between drone operators, local governments and comprehensive rules of operations to the largest and most active drone flight data network. As it exists today, there's a major information awareness gap in the industry and for drone pilots everywhere that makes compliance elusive. Aloft aims to solve this problem as this is a missing piece for UTM systems across the globe," Aloft CEO and Founder Jon Hegranes Local and state parks are acutely aware of the challenge of enforcing rules and regulations that govern drone operations. Too often the rules are simply not presented to drone pilots broadly enough and rely on posted signs that can be easily missed. Geo Portal puts control of advisories in the hands of verified users and enables them to reach the widest possible audience of drone pilots through Aloft. To create an account and start publishing advisories, users will need to submit a verifiable email from the organization they work for as well as detailed information on the parameters and basis for the advisory. About Aloft Formerly known as Kittyhawk, Aloft Technologies is the market leader in drone airspace systems & UTM technologies and powers more than 70% of all LAANC authorizations in the US. Our solutions make it easy to fly safely and operate compliantly at scale. Our dynamic airspace platform connects the largest drone network -- spanning recreational users, enterprise customers, regulators, and UTM partners across the globe.

Read More

BUSINESS AVIATION

Avcon Caravan Aircraft Sensor Platform FAA STC Approved

Butler National Corporation | January 06, 2022

Butler National Corporation (OTCQB: BUKS) announces that its subsidiary Avcon Industries, Inc., a leading provider of ISR and special mission solutions for aircraft, received Federal Aviation Administration approval of Avcon special mission modifications for the Model 208 and 208B Caravan. FAA Supplemental Type Certificate number SA01975WI approves Avcon fuselage sensor ports with or without the Avcon Mission Power System for the Textron Aviation (Cessna) Model 208/208B. The Avcon Caravan Sensor STC solution offers a cost-effective installation of dual sensor holes (ports) in the aft fuselage of the airplane and the optional provisions for custom missionization power for the Caravan. "This is tremendous break-through project for entering a new aircraft market. The objective of the Avcon Caravan Sensor Platform is to incorporate unique features and functionality gained from Avcon's extensive modification experience. This provides the marketplace with a cost-effective sensor port modification to a recognized single-engine platform. The modification was designed to easily be produced as a kit for qualified installers and to minimize downtime. There are over 2,500 of these aircraft built and we are confident that this modification will satisfy a need in a significant market and accommodate larger new-technology sensors. We look forward to continuing to grow our product offerings." -Marcus Abendroth, President of Avcon AboutAvcon Industries, Inc. Avcon Industries, Inc. is a wholly owned subsidiary of Butler National Corporation. Butler National operates in the Aerospace and Management Services business segments. The Aerospace segment focuses on the manufacturing and certification of aviation-related products, including Special Mission – Intelligence Surveillance Reconnaissance solutions, avionics offerings, regulatory solutions, and controls for weapons systems. Services include temporary employee services, gaming services and administrative management services.

Read More

CARGO MANAGEMENT

Alpine Air Express, a Portfolio Company of AE Industrial Partners, Acquires Suburban Air Freight, Inc.

Alpine Air Express | April 19, 2022

Alpine Air Express, Inc., a leading regional air cargo carrier providing critical air infrastructure supporting a wide range of integrated logistics operations throughout North America, announced that it has acquired Suburban Air Freight Inc. Terms of the transaction were not disclosed. This strategic addition marks Alpine's second acquisition since becoming a portfolio company of AE Industrial Partners, LP ("AEI"), a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. Alpine also acquired the assets of Great Lakes Airlines in 2020. Headquartered in Provo, Utah, Alpine is a leading Part-135 air cargo operator with a long and distinguished history of providing its customers with safe and reliable air cargo transportation services. Alpine operates a growing fleet of more than 50 active aircraft and owns a proprietary Supplemental Type Certificate ("STC") to convert the Beechcraft 1900D aircraft from passenger to cargo configuration, providing a unique value proposition to its blue-chip customers such as UPS, U.S. Postal Service, FedEx and others. Founded in 1984 and headquartered in Omaha, NE, Suburban is a Part-135 regional air cargo carrier providing dedicated air cargo services to DHL and other leading customers. Much like Alpine, Suburban primarily operates a fleet of Beech 1900s and operates a highly complementary integrated maintenance operations team. Suburban's leadership team of Geoff Gallup and Jay Armstrong will remain with the Company to help transition Suburban into this next chapter and assist with the integration into Alpine. "Suburban is a leading regional air cargo carrier with a reputation for quality service and safety. The addition of Suburban and its talented team significantly expands our Company and its market position, enabling us to better serve our new and existing customers." Michael Dancy, CEO of Alpine Air "Growing e-commerce activity, faster delivery requirements and supply chain complexity has increased the demand for large scale, reliable regional air cargo service providers," said Jon Nemo, Senior Partner at AEI. "We have invested significantly in Alpine, including this strategic addition of Suburban, to create a leading provider of critical air cargo infrastructure capable of meeting this growing demand." "Safe and reliable service has also been our key focus while providing additional routes to better serve our customers, and as part of Alpine, we'll have greater resources to realize both objectives," said Mr. Gallup. "We look forward to partnering with both the Alpine and AEI teams as we expand our business." BDO served as financial advisor and Akerman served as legal advisor to AIpine. Lewis Brisbois Bisgaard & Smith was the legal advisor to Suburban. About Alpine Air Express Headquartered in Provo, Utah, Alpine is a leading a leading regional air cargo carrier providing critical air infrastructure supporting a wide range of integrated logistics operations throughout North America. Alpine operates a growing fleet of aircraft and owns a proprietary Supplemental Type Certificate ("STC") to convert the Beechcraft 1900D aircraft from passenger configuration to cargo configuration, making it the largest single pilot cargo aircraft in the world. About AE Industrial Partners AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative.

Read More

AIR TRANSPORT

Bristow and Overair Form Strategic Partnership to Introduce Butterfly; a Zero Emission, Low-Noise Vertical Transport Vehicle

Global Market Insights Inc. | December 17, 2021

Bristow and Overair Form Strategic Partnership to Introduce Butterfly; a Zero Emission, Low-Noise Vertical Transport Vehicle Bristow has pre-ordered 20 to 50 Butterfly aircraft and both companies will work together to develop an operations development framework focusing on vehicle design considerations, key performance parameters, FAA certification, flight planning best practices, data sharing for improvement of flight operations, connected vehicle and health monitoring strategies, configuration and maintenance protocols, infrastructure, ground support operations, connected fleet management, and government affairs and promotion of eVTOL operations. "Bristow's decades of vertical lift experience will greatly enhance Butterfly's path to commercialization. Their operating insight, combined with our development and execution of the Butterfly program, will position Butterfly to serve Bristow as a valuable workhorse on high-density routes, We're elated to learn from Bristow's practical expertise and ultimately deliver an aircraft optimized for their use cases." -Ben Tigner, Chief Executive Officer of Overair. "Our MOU with Overair allows us to advance our leadership position in the vertical transportation market that we've built over the past 70+ years and will now set the stage for the next generation of vertical flight. Our collaboration facilitates expansion into new high-density geographic markets with sustainable, innovative and efficient vertical lift and aerial transport services, As the global leader in vertical lift, Bristow's operational expertise and efficiency, supported by the trust and confidence of our customers, can safely bring eVTOL aircraft into the market." -Bristow President and Chief Executive Officer Chris Bradshaw. Bristow, one of the world's largest and most experienced helicopter operators, plans to use the unique attributes of these eVTOL aircraft to help reduce its carbon footprint. The company understands the benefits of a varied fleet and intends to diversify its existing operations with Butterfly and other eVTOLs for commercial air taxi routes in metropolitan areas. Notably, of the vehicles Bristow is currently considering, Butterfly is the only aircraft with a vectored thrust configuration. Bristow expects to optimize its fleet management strategy by matching eVTOL attributes with the most economically productive mission profiles. Butterfly's low-noise profile, payload capacity and ability to fly in a broad range of weather conditions will be well-suited for high-density, noise sensitive routes in geographies with varied environmental concerns. The Butterfly aircraft features low maintenance costs and mechanical simplicity, which enables high vehicle uptime and utilization, increasing operator margins and passing value on to riders. Overair's experience developing military-grade rotorcraft propulsion systems is expected to unlock a highly strategic collaboration between the companies. Work is set to begin immediately, focusing on FAA certification planning, a robust safety operating culture, and other unique aspects of vertical flight operations. About Bristow Group Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of major integrated, national and independent offshore energy companies. Bristow provides commercial search and rescue (SAR) services in several countries and public sector SAR services in the United Kingdom (U.K.) on behalf of the Maritime & Coastguard Agency (MCA). Additionally, the Company offers ad hoc helicopter and fixed wing transportation services. Bristow currently has customers in Australia, Brazil, Canada, Chile, Colombia, Guyana, India, Mexico, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K. and the U.S. About Overair Overair, Inc. is positioned to be a global leader in advanced air mobility. Based in Santa Ana, California, Overair's growing team is harnessing decades of military aircraft innovation to design, manufacture, and operate all-electric vertical takeoff and landing aircraft. With a path to FAA certification in 2025, Overair is dedicated to making the world a smaller, cleaner place for everyone using Butterfly, the most robust, efficient, and quiet aircraft in its class.

Read More

Spotlight

International Consolidated Airlines Group is one of the world's largest airline groups, flying to 268 destinations and carrying around 105 million passengers each year. IAG combines leading airlines in Ireland, the UK, and Spain, enabling them to enhance their presence in the aviation market while retaining their individual brands and current operations.

Resources