The News Review:
- General Dynamics Completes Acquisition of Jet Aviation
- PSU insurers unfazed by shrinkage of aviation biz
- Greece announces bidders for Olympic Airlines
- Experts: Market disruption unprecedented ANALYSTS SEE AVIATION …
- Bombardier Bets Heavily on China Regional Aviation
- Cooma aviation plan
General Dynamics Completes Acquisition of Jet Aviation
MarketWatch
, a company controlled by the Permira Funds. The companies
announced the plans for the acquisition in August. Jet Aviation was founded in Switzerland in 1967 and is one of the world’s
leading business-aviation services companies. Approximately 5,600 Jet
Aviation employees cater to clients’ needs from 25 airport facilities
throughout Europe, the Middle East, Asia and North and South America. Services provided include maintenance, repair and overhaul; completions and
refurbishments; engineering; fixed base operations (FBO); aircraft management,
flight support and global executive-jet charter services; and aircraft sales,
acquisitions and personnel services. In the past three years, under the
control of the Permira Funds, Jet Aviation has developed from a family owned
business to a global leader in business aviation services. Jet Aviation will continue serving the entire aircraft manufacturing
community and its global client base as a new business unit within the General
Dynamics Aerospace group operating under the Jet Aviation and Midcoast
Aviation brands.
PSU insurers unfazed by shrinkage of aviation biz
Hindu Business Line, India
Shivkumar
Bangalore, Nov. 6 Public sector insurance companies’ liabilities are expected to shrink by about Rs 1,700 crore this year with the termination of aviation leases. The sum insured on each of the aircrafts on lease to both Kingfisher Airlines Ltd and Jet Airways Ltd was about $29 million. Both these companies have already indicated in stock exchange notices that the leases of at least 12 aircraft would be returned to the lessors. Under the current contract arrangements, the ownership of the aircraft is vested with the lessors, insurance premium payments are to be made by the aviation companies. This comprised part of the operating expenditure.
Greece announces bidders for Olympic Airlines
The Associated Press
Companies interested in Olympic’s operations are Athens Airways, Chrysler Aviation, Fouad El Ghanim Group, MyAir, Qatar Airways, Sky Europe and Sky One. For ground handling the companies interested are: Athens Airways, Ellaktor, Fouad El Ghanim Group, Goldair, Hellenic Cargo Group, and Swissport. For Olympic’s technical maintenance, the bidders are: Athens Airways, Iberia and Fouad El Ghanim Group. Transport Ministry officials said Thursday that 22 further potential bidders had requested that their names not be made public. The government plans to liquidate Olympic and transfer most of its 8,100 staff to other public sector jobs.
Related from Auctionsmonster: WWA Group Holds Major Auction in Dubai
Experts: Market disruption unprecedented ANALYSTS SEE AVIATION …
The Wichita Eagle, KS
“I’ve done this for 39 years,” said von Rumohr. “This looks like the worst recession ever. This is global; it’s not just the U. Aboulafia says aviation’s down cycles usually mean a 20 to 25 percent drop in demand. Still, people should keep what’s happening in the aviation industry in perspective. The aviation market has more than quintupled in size in the past dozen years.
Bombardier Bets Heavily on China Regional Aviation
Trading Markets (press release), CA
Embraer has been extending reaches to China in the past seven years, when the Canadian company abandoned its China regional aviation business temporarily. Bombardier could not make a great breakthrough in expansion in the Chinese regional aviation market, until its newest sizable single aisle regional passenger aircraft named C-series was developed several months ago. Currently, there is no doubt that this aviation giant plans to shift its focus onto the large-scale regional airplane operation. It once forecasted that up to 12,900 aircrafts with 20 to 149 seats would be delivered worldwide in the following 20 years. Meanwhile, the number of the world’s passenger airplanes with 20 to 59 seats, 60 to 99 seats, and 100 to 149 seats will likely increase 500, 6,100, and 6,300, respectively.
Cooma aviation plan
Aircargo – Asia Pacific, Australia
AVO says it wants to build its latest aircraft model, the AVO Afghan, in NSW. The delegation will request A$2 million from the Government’s regional infrastructure fund be allocated to the project that could one day also see an apprentice scheme for aviation maintenance established in Cooma.