Source: Chorus CA$1.1 billion1 transaction; immediately accretive Expands and broadens Chorus’ business to include an established and growing asset management platform with an excellent track record Enhances and diversifies future cash flows with a shift to an asset light model Differentiated model benefits all stakeholders Creates a leading regional aircraft lessor with best-in-class regional aviation management team Establishes partnership with Brookfield as a strategic cornerstone investor in Chorus Chorus Aviation Inc. announced that it has entered into a sale and purchase  agreement (the ‘SPA’) pursuant to which one or more wholly-owned subsidiaries of Chorus will acquire Falko Regional Aircraft Limited (‘Falko’), a leading regional aircraft lessor,  together with (i) affiliates of Falko, and (ii) the equity interests in certain entities and aircraft which [...]

Source: SITA Lavorel takes the reins as airlines and airports look to technology to support industry recovery The SITA Board has announced the appointment of David Lavorel as the company’s new CEO. Under his leadership and vision, SITA will continue to lead a strategic change for the industry, helping its customers implement digitalized and smart solutions. Over the past 20 years at SITA, Lavorel has served in a range of senior roles, most recently as CEO of SITA AT AIRPORTS AND BORDERS. He also served as CEO of SITA FOR AIRCRAFT, where he pursued a strategy to extract the full potential of the connected aircraft for SITA's airline customers. As Senior VP Corporate Development and Head of the CEO office, [...]

Source: Pratt & Whitney Canada Pratt & Whitney Canada, a business unit of Pratt & Whitney, announced today that it is driving forward its environmental commitments by supporting efforts to advance 100% Sustainable Aviation Fuels (SAFs) compatibility for its engines, it has expanded its carbon offset service to regional customers and has advanced its hybrid-electric propulsion technology and flight demonstrator program, all while consistently making current products environmentally best-in-class. "Pratt & Whitney Canada is uniquely positioned to bring productive, safe propulsion to the world combining efficient thermal and electrical propulsion systems, while offering the broadest suite of solutions to customers," said Maria Della Posta, president. "To that end, we've made several advancements in our sustainability roadmap that herald the application [...]

Source: Pratt & Whitney Pratt & Whitney has been selected by the U.S. Department of Energy (DoE) to develop novel, high-efficiency hydrogen-fueled propulsion technology for commercial aviation, as part of DoE's Advanced Research Projects Agency-Energy (ARPA-E). The Hydrogen Steam Injected, Inter‐Cooled Turbine Engine (HySIITE) project will use liquid hydrogen combustion and water vapor recovery to achieve zero in-flight CO2 emissions, while reducing nitrogen-oxide (NOx) emissions by up to 80 percent and reducing fuel consumption by up to 35 percent for next generation single-aisle aircraft. "This truly is an exciting opportunity to start developing the key technologies that could bring the industry's first hydrogen steam injected, inter-cooled engine from concept to reality," said Geoff Hunt, senior vice president, Engineering and Technology, at Pratt [...]

Source: IAMA Aircraft Modifications quality elevated through independent Audited Standard IAMA, The Independent Aircraft Modifier Alliance, is proud to announce that their first member has passed the audit. This has been a significant milestone for the alliance and the aircraft retrofit market participants. Since day one, IAMA's primary goal has been to assure that independent aircraft retrofit members modifying aircraft through Supplemental Type Certificate (STC) projects sustain a  first-rate standard. Therefore, the IAMA Rulebook, first released in March 2020, defines a high-quality standard and is an indispensable resource for aircraft Modifiers, Airlines, and Lessors. Together with the IAMA Rulebook, the audit process will help certify credible and remarkable STCs for airlines and the aviation industry at large. The first official [...]

Source: Fokker Techniek Fokker Techniek expands VIP cabin completion capability into widebody market Exclusive VVIP aircraft cabin ordered by K5-Aviation Spacious and state-of-the-art cabin interior with a modern, stylish design Fokker Techniek has signed a contract with K5-Aviation for its first ever widebody VIP completion. Roland van Dijk, co-CEO of Fokker Techniek, is extremely excited to be awarded with this contract and show the market that Fokker Techniek can handle widebody conversions. “We appreciate the direct lines with the knowledgeable engineering and production people plus their hands-on way of working. The whole project team is focused on delivering a great end-result”, says Erik Scheidt, Managing Director and pilot at K5-Aviation. “We have been accustomed to their skills in previous projects [...]

Source: Neste Excellent performance in a year of major scheduled maintenance shutdowns and high input costs Year 2021 in brief: Comparable EBITDA totaled EUR 1,920 million (EUR 1,929 million) EBITDA totaled EUR 2,607 million (EUR 1,508 million) Comparable operating profit totaled EUR 1,342 million (EUR 1,416 million) Operating profit totaled EUR 2,023 million (EUR 828 million) Cash flow before financing activities totaled EUR 511 million (EUR 1,019 million) Return on average capital employed (ROACE) was 15.5% over the last 12 months (17.3%) Leverage ratio was 0.6% at the end of December (31 Dec 2020: -4.7%) Comparable earnings per share were EUR 1.54 (EUR 1.60) Earnings per share: EUR 2.31 (EUR 0.93) Board of Directors will propose a dividend of EUR [...]