Skyservice Business Aviation Announces Leadership Transition

Skyservice | October 15, 2020

Skyservice Business Aviation Canada's leader in business aviation, today announced that Benjamin J. Murray will join Skyservice as President and Chief Operating Officer effective November 1, 2020 to drive the Company's strategic direction, operations and continuing growth.  Following a period of transition, Mr. Murray will assume the role of President and Chief Executive Officer in early 2021. Emlyn David, currently President and Chief Executive Officer, will retain the role of Chief Executive Officer through the transition and subsequently serve as Vice Chair of the Company's Board of Directors where he will provide guidance and strategic expertise to support Skyservice's growth objectives. Mr. David remains a significant owner of Skyservice alongside InstarAGF Asset Management Inc., which owns and operates a portfolio of critical infrastructure businesses in North America.

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Airport operators are recommended to maintain a master plan document detailing development proposals. An airport master plan does not have development plan status, but the level of detail contained within it is essential to inform the content of the Local Development Framework. We will expect airport operators to produce master plans or, where appropriate, to update existing master plans to take account of the conclusions on future development set out in this White Paper.” (paragraphs 12.7, 12.8).


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BUSINESS AVIATION

United Becomes First U.S. Airline to Sign Agreement to Purchase Sustainable Aviation Fuel Overseas

United Airlines | May 11, 2022

United, which has invested in more sustainable fuel production than any other airline in the world, became the first US airline to sign an international purchase agreement for sustainable aviation fuel. The airline has signed a new purchase agreement with Neste that provides United the right to buy up to 52.5 million gallons over the next three years for United flights at Amsterdam's Schiphol Airport, and potentially other airports as well. "Reducing carbon emissions from fuel is the fastest way United will reach our 100% green goal by 2050. As the airline that has invested more than any other airline in sustainable aviation fuel production, it makes sense to expand our network of partners internationally with a leading company like Neste. The demand from our customers to limit their emissions from flying is growing exponentially, and this agreement means that United customers flying from Amsterdam, and potentially more airports, will be partners in our sustainability efforts." Lauren Riley, United's Chief Sustainability Officer Neste will provide United with 2.5 million gallons of SAF in Amsterdam in the first year. United will also have the right to purchase up to 20 million gallons in the second year, and up to 30 million gallons in the third year, at Amsterdam or other locations that Neste can supply throughout the globe, as Neste increases its SAF production. This supply agreement is enabled by Neste's ambitious growth strategy, which will see the company producing 515 million gallons of SAF (1.5 million metric tons) per year by the end of 2023. Neste has been producing and delivering SAF since 2011 and has a proven track record of supplying SAF to customers in Europe, Asia and the Americas. "We're excited to be partnering with United in this milestone purchase agreement and make our SAF available to United, also an industry leader in SAF investments," said Thorsten Lange, Executive Vice President, Renewable Aviation at Neste. "Our global, fast-growing SAF production and supply chain supports airlines and their customers in reducing greenhouse gas emissions. Neste is committed to helping aviation transition to a more sustainable future, and we look forward to expanding our cooperation with United." SAF delivers the performance of conventional jet fuel but with a significantly smaller carbon footprint on a lifecycle basis. Neste's SAF reduces lifecycle greenhouse gas emissions ("GHG") by up to 80% compared to conventional jet fuel and burns cleaner than conventional jet fuel reducing non-CO2 emissions, including particulate matter (PM). Neste MY Sustainable Aviation Fuel™ is produced from 100% sustainably sourced renewable waste and residue raw materials, including used cooking oil and animal fat waste. United has aggressively pursued strategic investments in SAF producers and revolutionary technologies including carbon capture, hydrogen-electric engines, electric regional aircraft, and urban air mobility. United has invested in more SAF production than any other airline globally.

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BUSINESS AVIATION

Axiom Space and Italian Government Sign Historic MOU to Expand Commercial Utilization of Space

Axiom Space | May 26, 2022

Axiom Space, a leader in human spaceflight currently building the world's first commercial space station, has signed a memorandum of understanding with the Italian government to further their existing collaboration, including the potential for the development of space infrastructure integrated with the future Axiom Station. The agreement was signed by the President and CEO of Axiom Space, Michael Suffredini, and Italy's Minister for Technological Innovation and Digital Transition, Vittorio Colao, on 19 May in Rome, Italy. While the MOU is exploratory in nature, areas of cooperation outlined in the agreement include mutual definition of potential user requirements as well as technological solutions and operational concepts for an Italian module that could later be developed and integrated into the Axiom Space Station. The project could take the form of a public-private framework with the governance and business models developed over time. Other areas of cooperation include collaborative development and implementation of research supporting space exploration and technology, including advanced materials, pharmaceuticals, on-orbit manufacturing, space security, aerospace medicine, simulation and robotics, and other areas of mutual interest as determined by the two parties, as well as training and mission operations. The MOU – a first-of-its-kind approach between the Italian government and a private international corporation - is the latest effort between Italy and the Houston-based Axiom Space. Earlier this year, Axiom announced Italian Air Force (ItAF) Colonel Walter Villadei as the company's first international professional astronaut. He is currently in training in Houston. Col. Villadei has been selected by Axiom as a backup on the Ax-2 mission, and an initial agreement has been signed for a reservation on a mission targeting late 2023. Based on ItAF's significant competencies in the field of astronautics, modeling and simulation, and aerospace medicine, such a mission will allow the implementation of multidisciplinary scientific and technological experiments from the Italian research and industrial community and will further strengthen the relationship being established under the MOU just signed. Together, these agreements between Axiom and Italy demonstrate the promise and viability of business to government (B2G) relationships that can help grow and expand the commercial space economy across multiple industries and market sectors. A Joint Working Group, composed of representatives from Axiom and institutions and industrial representatives appointed by the Italian Government, will pursue the implementation of the MOU. "As one of the first European countries invested in the International Space Station, this agreement with the Italian government will bring an experienced partner to Axiom Station, helping to open a new paradigm as we build this next generation microgravity platform in low Earth orbit. The MOU is a significant addition to Axiom Space's long-standing relationship with Italy and reflects our shared commitment to expand global access to space and grow the LEO economy while advancing science and technology to benefit all of humanity." Michael Suffredini Axiom Station will provide the international community with a modern, efficient, and cost-effective space infrastructure that enables microgravity research, further technological developments, and operations to continue seamlessly after the ISS end of life. The collaboration between Axiom and Italy will harness microgravity for the development of advanced scientific research, innovative technologies, on-orbit manufacturing, and space exploration. "The agreement intends to deepen cooperation for the development and implementation of projects in the aerospace sector…[it represents] the enrichment of the excellent and historical bilateral relations between the United States and Italy, with cooperation also in the field of commercial space flight seen as an opportunity to develop a new chapter of the human presence around the Earth and on the Moon for the benefit of the whole humanity", according to a statement released by the Italian government. The agreement with Italy adds to Axiom Space's list of recent accomplishments in its efforts to grow the commercial space industry. Earlier this month, Axiom Space celebrated the groundbreaking at the company's new, long-term headquarters at Houston Spaceport, which will be home to the development and construction of Axiom Station. Axiom Space also recently welcomed home the Axiom Mission 1 (Ax-1) crew after successfully completing the first all-private astronaut mission to the ISS. The company has also signed agreements with several nations, including Hungary and the United Arab Emirates to fly on future space missions. About Axiom Space Axiom Space is guided by the vision of a thriving home in space that benefits every human, everywhere. The leading provider of human spaceflight services and developer of human-rated space infrastructure, Axiom operates end-to-end missions to the International Space Station today while privately building its successor, Axiom Station, the first permanent commercial destination in Earth's orbit that will sustain human growth off the planet and bring untold benefits back home.

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COMMERCIAL AVIATION

Jet Edge Adds Challenger to Its Coast-to-Coast Program, Launches Transcon Program as Part of Overall Membership Program Expansion

Jet Edge | December 18, 2021

Jet Edge is closing the year with an expansion of its successful coast-to-coast Gulfstream program to include its Challenger fleet (300/350/605/650 series). Jet Edge celebrated its 25th of 35 new deliveries last week with another 10 slated thru May 2022. By June 1st of 2022, both the Challenger 300/350/605/650 and Gulfstream 4SP/450 aircraft will be fully outfitted with brand new state-of-the-art interiors, avionics, branded livery, and in-cabin features. Jet Edge Reserve members will now be able to fly coast-to-coast on a Challenger starting at $39,900. In addition, Jet Edge is announcing a new transcontinental program to include non-coastal hubs like Las Vegas, Salt Lake City, Bozeman, Aspen, Nashville and Scottsdale among others for flights of four hours or more, also starting at $39,900. “Our Reserve Member base has continually asked us to extend our coast-to-coast offering to our Challenger aircraft as well as develop a larger transcontinental footprint and we are delivering an enhanced program for CL300/350/605/650 flyers that complements our industry leading Gulfstream program,” - Jet Edge Chief Commercial Officer, Jonah Adler. The company is also closing 2021 with a 7.5% fly FET free bonus credit for Jet Edge Reserve Black members who join by December 31st. The Reserve program is fully refundable with no expiration, a distinct offering within the private aviation industry. “As the only membership charter company domestically to have taken delivery of 25+ state of the art super-mid and large cabin aircraft this year, closing the year with an opportunity for Reserve Black members to fly on the charter industry’s most advanced fleet FET-Free, for as long as they’d like, is an exciting way to finish the year,” - Jet Edge Chief Business Officer Steve Malvesta. About Jet Edge Jet Edge is the largest operator of super-midsize and large cabin private jets in private aviation. The Jet Edge fleet features the highest in third party aviation safety certification, immaculate interiors, finest cabin amenities, and the fastest high-speed Wi-Fi in the sky. With Jet Edge Reserve, members enjoy exclusive benefits and dynamic pricing with the most client-friendly terms and conditions in the industry. Reserve membership is fully refundable with no annual fees and no expiration. All Jet Edge flights are backed by a fleet that delivers the highest level of safety and cleanliness standards in private aviation.

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AVIATION TECHNOLOGY

Turboprop Aircraft Values Steadily Increasing Amid Tight Inventory Levels, According to Sandhills Global Market Report

Sandhills Equipment Value Index | January 11, 2022

The latest Sandhills Global aviation market report finds that asking values for turboprop aircraft in Sandhills marketplaces increased 4.8% year-over-year from December 2020 to December 2021. Dwindling used turboprop aircraft inventory levels, especially in key age groups and for certain models, remain a primary driver of asking value increases. The new market report follows Sandhills' recent market report identifying noteworthy supply and demand trends within the used piston single aircraft category. Sandhills' aviation products include Controller, Controller EMEA, Executive Controller, Charter Hub, Aviation Trader, Aircraft Cost Calculator, and AircraftEvaluator. AircraftEvaluator is Sandhills' proprietary asset valuation tool for all types of aircraft, built using the same technology behind FleetEvaluator. Widely used and trusted across equipment, truck, and trailer industries, FleetEvaluator identifies asset values with unparalleled accuracy. The key metric used in all of Sandhills' market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. Chart Takeaways This report includes detailed analysis of asking values and inventory trends in the U.S. used turboprop aircraft market along with charts that help readers visualize the data. Highlights include noteworthy value trends in Beechcraft King Air series. Asking Values The 4.8% YOY asking value increase for used turboprop aircraft in Sandhills marketplaces means that the average turboprop aircraft was valued at $1,412,023 in December 2021 compared to $1,347,814 in December 2020. From November to December 2021, turboprop aircraft asking values increased 3.9%, an average value jump of $53,000. Inventory Levels The current market report shows inventory in the turboprop aircraft category is down 56.6% YOY. The 0- to 10-year age group displayed the steepest inventory drop, down 64.4% YOY. The lowest decline was found in the 25-year-plus age group, which was still down 52.2% YOY. Beechcraft King Air Series Sandhills asking EVI for Beechcraft King Air turboprop aircraft were up 2.8% YOY in December. The King Air 200 series, up nearly 19% YOY, is a key driver of Beechcraft King Air asking values. The Sandhills EVI shows steady value increases in King Air 200 models since March 2021; average asking values are up $330,000 YOY, topping $2,000,000 in December. About Sandhills Global Sandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information in the form of trade publications, websites, and online services that connect buyers and sellers across the aviation, construction, agriculture, and commercial trucking industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global—we are the cloud. About the Sandhills Equipment Value Index The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, commercial trucking, and aviation industries represented by Sandhills Global marketplaces, including Controller.com, AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms. Powered by FleetEvaluator and AircraftEvaluator, Sandhills' proprietary asset valuation tools, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.

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Spotlight

Airport operators are recommended to maintain a master plan document detailing development proposals. An airport master plan does not have development plan status, but the level of detail contained within it is essential to inform the content of the Local Development Framework. We will expect airport operators to produce master plans or, where appropriate, to update existing master plans to take account of the conclusions on future development set out in this White Paper.” (paragraphs 12.7, 12.8).

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