Thomas Cook Aviation Declares Bankruptcy

Simple Flying | April 03, 2020

Thomas Cook Aviation has declared bankruptcy. The news came after its contracts with its sole customer, the German carrier Condor, were canceled. Around half a year ago the Thomas Cook Group collapsed into bankruptcy. You may have read the title of this story thinking ‘hang on, Thomas Cook declared bankruptcy last September?” Well, you would be correct, the Thomas Cook Group did collapse. However, despite the collapse of its parent company Thomas Cook Aviation continued operations.

Spotlight

The purpose of the Pb-Free Electronics Risk Management (PERM) Consortium is to provide overarching leadership and coordination of Pb-free electronics risk management activities for the aerospace, defense and high-performance (ADHP) communities. The goal is to respond better to the long-term challenges of Pb-free solders and finishes over a system’s life cycle.


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AEROSPACE

Spirit Airlines Strengthens Houston Ties With New Aircraft Maintenance Facility

Spirit Airlines | April 21, 2022

Spirit Airlines today announced a commitment to deepen its roots in Houston with the addition of an aircraft maintenance facility at George Bush Intercontinental Airport (IAH). The facility, located along John F. Kennedy Boulevard, will serve as a large aircraft maintenance hangar with offices and warehousing for the Spirit Technical Operations team when it begins its first phase of operations. The maintenance complex includes two aircraft bays and ramp space for up to four aircraft, as well as warehouse, shops, and office space, and adds an important geographical location to complement Spirit's maintenance hub in Detroit. Spirit plans to staff the facility with more than 50 Houston-based Team Members to maintain and service Spirit's growing fleet, which is planned to gain 24 new planes this year for a projected fleet-wide total of 197 by the end of 2022, and 33 more planes projected for delivery in 2023. As Spirit's network expands, this additional maintenance capacity will be located a short flight away from several of Spirit's busiest stations. "Maintaining our Spirit Fit Fleet® in top condition is a priority for us every day, and we've picked the perfect additional location for our stellar Technical Operations team as they support our on-going growth. We're proud to bring the values and commitment to excellence that earned our team the FAA's Aviation Maintenance Technician Diamond Award of Excellence to Houston. Thank you to the IAH team for the great 10-year partnership, and we look forward to adding jobs and new maintenance capacity as we grow our presence in the community." John Bendoraitis, Executive Vice President and Chief Operating Officer of Spirit Airlines "Houston's strong economic outlook makes our city an attractive ally for corporate growth and expansion in a global marketplace," said Mayor of Houston Sylvester Turner. "The new maintenance facility at Bush Airport will add quality jobs in our community. We value Spirit Airlines' commitment to Houston, as they continue to expand services in our city and invest in our workforce." "Spirit Airlines will enhance their overall daily operations at Bush Airport by adding this new facility," said Director of Houston Airports Mario Diaz. "This will not only benefit passengers all over their network but will elevate the airport guest experience for those who fly out of Houston to the airline's multiple domestic and international destinations." About Spirit Airlines Spirit Airlines is committed to delivering the best value in the sky. We are the leader in providing customizable travel options starting with an unbundled fare. This allows our Guests to pay only for the options they choose — like bags, seat assignments and refreshments something we call Á La Smarte®. We make it possible for our Guests to venture further and discover more than ever before. Our Fit Fleet® is one of the youngest and most fuel-efficient in the U.S. We serve destinations throughout the U.S., Latin America and the Caribbean, and are dedicated to giving back and improving those communities.

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COMMERCIAL AVIATION

BBAM Raises $1.5 Billion for Second Aviation Fund

BBAM Limited Partnership | February 07, 2022

BBAM Limited Partnership (BBAM), a world leader in aircraft leasing, announced that it has closed its latest flagship aircraft leasing fund, Incline Aviation II, with total capital commitments of approximately $1.5 billion. A diverse group of institutional investors committed to Incline Aviation II, including some of the world's largest public and private employee pension plans and sovereign wealth funds. The fund attracted a mix of repeat and first-time investors. "We appreciate the strong backing from existing and new investors that made our second Incline Aviation fund closing a huge success, We have been actively investing and are excited about the opportunity to generate attractive returns for our investors while partnering with our airline clients globally." -Steve Zissis, President and Chief Executive Officer of BBAM. Incline Aviation II has deployed approximately $318.0 million of equity commitments across 31 aircraft investments as of December 31, 2021. Incline Aviation II continues BBAM's successful aviation investment strategy with a fund dedicated to investing in leased commercial aircraft. Incline Aviation I, a first-of-its-kind multi-strategy fund, closed in 2017 with total capital commitments of $931 million. About BBAM BBAM is the world's largest dedicated manager of investments in leased commercial jet aircraft, and has provided more than 70 airline customers globally with fleet and financing solutions over more than three decades. With more than 450 aircraft and $21 billion of assets under management, BBAM employs over 130 professionals at its headquarters in San Francisco and offices around the world, located in Tokyo, Singapore, Zurich, Dublin, Puerto Rico, and Santiago.

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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.

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DEFENSE AND SPACE

Canvas GFX Partners with Voyager Space Services to Make Canvas Envision Available to Broad Network of Space-Focused Start-ups

Canvas GFX | March 25, 2022

Canvas GFX, Inc, the leading provider of visual communication solutions to the manufacturing and technical industries, today announced that it has partnered with Voyager Space Services, a Voyager Space Company, to make Canvas Envision available through the Voyager Space Services MarketSpace platform. Voyager Space Services provides a curated portfolio of business and technical solutions to entrepreneurs and early-stage NewSpace companies that supports and accelerates their development. Voyager Space Services' easy-access solutions enable company founders and executives to focus on innovation and product development, rather than time-consuming business operations tasks. Envision is the exclusive visual communication solution offered on the MarketSpace platform. It joins a select number of solutions offered by Voyager Space Services to its customer base alongside a suite of more than 30 offerings. Canvas Envision bridges the divide between technical and creative visual communication solutions. It makes sophisticated 3D CAD visualizations available to anyone involved in creating product documentation, without the need for prior CAD training or a technical background. Envision combines a lightweight graphics application with cloud-based documentation storage, access, and collaboration. "Space exploration is one of the most exciting sectors imaginable. By empowering the space start-up community to innovate freely, the Voyager Space Services team is laying the groundwork for huge achievements. We are delighted that Canvas Envision has been selected to be part of the prestigious MarketSpace platform. I can't wait to see how this new audience will put Envision to use." Pat Hume, CEO, Canvas GFX Dan Geraci, President of Voyager Space Services added: "At Voyager we are focused on helping entrepreneurs turn great ideas into even greater successes that will power humanity's exploits in space. The ability of these companies to effectively communicate what their product can contribute, and how it works, is paramount to their success. Canvas Envision gives space companies that ability and we are very pleased to offer their solution to our network." About Canvas GFX Canvas GFX develops visual communication and collaboration solutions trusted by leading brands from verticals including aerospace and defense, automotive, commercial, and domestic appliance, energy, and education. Canvas solutions bridge the divide between technical and creative graphics applications, empowering everyone to communicate and understand complex information with absolute clarity. About Voyager Space Services Voyager Space Services, a Voyager Space Company, provides operating, technical, business development, and Founder solutions to NewSpace start-ups & grown-ups to allow entrepreneurs to focus on innovation and product development, rather than time-consuming operational tasks. Voyager Space Services' online portal, MarketSpace, provides a user-friendly interface for clients to shop for services and quickly get connected with the space industry's best providers.

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Spotlight

The purpose of the Pb-Free Electronics Risk Management (PERM) Consortium is to provide overarching leadership and coordination of Pb-free electronics risk management activities for the aerospace, defense and high-performance (ADHP) communities. The goal is to respond better to the long-term challenges of Pb-free solders and finishes over a system’s life cycle.

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