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CAE TO ACQUIRE TRU SIMULATION + TRAINING CANADA INC
Wednesday, November 25, 2020
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.Source: TRU Simulation + Training


Source: TRU Simulation + Training


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MONTREAL -- CAE has concluded a conditional agreement with Textron to acquire TRU Simulation + Training Canada Inc. (TRU Canada) for a cash consideration of approximately US$40 million, excluding post-closing adjustments. The closing of the transaction is subject to customary conditions and regulatory approvals.

The acquisition of TRU Canada expands CAE's global installed base of commercial flight simulators and customers, and the addressable market for simulator lifecycle support services. TRU Canada also brings with it a backlog of simulator orders, full-flight simulator assets and provides access to a number of airline customers globally.

"We look forward to integrating the TRU Canada business within CAE. This acquisition demonstrates our ability to bolster our position and expand our addressable market and our global customer base during this unprecedented period of disruption. Along with the recently announced FSC acquisition, we have been able to make investments that are expected to better enable CAE to meet the global demands of our customers in support of their training and simulation needs," said Marc Parent, CAE's President and Chief Executive Officer.

TRU Canada is CAE's second announced acquisition in the last two weeks and demonstrates the company's commitment to deploying the capital it is raising to strengthen the company's position across its markets. The acquisition is aligned with CAE's strategic priorities and meets the strict financial parameters it has in place. It is expected to be accretive to earnings in its first full year.

Source:  www.cae.com

 
CDB AVIATION BRINGS NEXT GENERATION A330 P2F FREIGHTER TO MARKET
Monday, November 23, 2020
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.Source: CDB Aviation


Source: CDB Aviation


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DUBLIN -- CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (CDB Leasing), announced a new partnership with Germany-based EFW GmbH (EFW) to conduct the Passenger-to-Freighter (P2F) conversion of two Airbus A330-300 aircraft in 2021, which will be available for lease to airline customers from early 2022. The A330-300 P2F conversion program marks CDB Aviation’s first entry into freighter conversion, advancing the lessor’s strategic efforts to deliver ever-more customized fleet solutions to customers, while tapping the long-term growth potential of the medium widebody freighter market. The A330 P2Fs are part of the existing fleet of 228 aircraft, in addition to the lessor’s further commitments for 150 in-demand, next-generation technology aircraft.

"We are seeing an increasing interest from our customers for medium-sized freighters, as they look to take advantage of record-high freighter utilization, rapidly growing e-commerce demand, and higher cargo yields," elaborated CDB Aviation Chief Executive Officer Patrick Hannigan. "We look forward to working with EFW on converting our highly efficient A330-300 aircraft into the next generation of medium widebody freighters that our customers can use to meet the burgeoning international and regional air freight demand."

The medium widebody freighter segment is today comprised of over 600 aircraft, served primarily by aging twin-jet aircraft, such as the Boeing 767F and Airbus A300F, which have an average age of 22 years. The A330-300 P2F will bring next-generation technology and efficiency to this segment. With growing express cargo demand and declining cargo densities, the A330-300 P2F offers more volumetric space than older freighters in this category, in line with what cargo operators and freight forwarders are seeking.

"With 12,000 Airbus cockpit aircraft in service, the A330-300 P2F will seamlessly slot into the fleets of A320 Family, A330, and A350 operators, and will bring a new paradigm of efficiency with 23% more cargo volume," expanded Hannigan.

"We are very excited to have CDB Aviation on board for investing in A330P2F Airbus converted freighters," said Dr. Andreas Sperl, Chief Executive Officer of EFW. "We look forward to a prosperous long-term relationship and to support the fleet growth in this promising market segment."

"As a major lessor of passenger A330s, it is a natural evolution of our portfolio to be able to offer our customers the A330-300 P2F. Our belief is that the A330-300 P2F is the exact type of medium widebody aircraft that airlines and cargo operators require to meet cargo demand near-term and into the future," concluded Hannigan.

Source:  CDB Aviation
Associated URL: Click here to visit

 
ALASKA AIRLINES FURTHER MODERNIZES FLEET WITH 13 NEW LEASED 737-9 MAX AIRCRAFT
Monday, November 23, 2020
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.Source: Alaska Airlines


Source: Alaska Airlines


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SEATTLE -- Alaska Airlines announced a transaction that continues the optimization of its mainline fleet. As part of the agreement, Alaska will sell 10 Airbus A320s to Air Lease Corporation, and subsequently, lease 13 new Boeing 737-9 MAX aircraft from them. The 13 737-9 MAX aircraft will be delivered from fourth-quarter 2021 through 2022. Alaska will lease the A320s back from Air Lease for a short period after the transaction closes.

"Alaska's relationship with Steve dates back to the early 1980s and we're thrilled to work with him and ALC on an agreement that will enhance our fleet and advance our environmental, operational and financial performance," said Brad Tilden, Alaska Air Group chairman and CEO. "We found an opportunity to sell 10 planes that are not in our long-term plans and replace them with 13 of the most efficient narrow-body aircraft available."

"We are honored and pleased to renew our long association and partnership with our friends at Alaska Airlines," said Steven F. Udvar-Házy, executive chairman of Air Lease Corporation. "These leased Boeing 737-9 aircraft from ALC will fill an important role on Alaska's diverse route network, bringing the most technologically advanced and environmentally attractive aircraft type into Alaska's fleet, just in time as we expect the airline industry will undergo a sustainable recovery starting in 2021."

The MAX aircraft are 20 percent more fuel-efficient and generate 20 percent less carbon emissions per seat than the A320s they will replace. The aircraft is also able to fly 600 miles farther than Alaska's current A320, which opens the possibility of additional nonstop routes and new destinations.

The 13 leased aircraft are in addition to the 32 MAX Alaska currently has on order with Boeing - five of which are expected to be flying by summer 2021. Alaska will begin flying the 737-9 MAX in March 2021.

After permanently parking all A319s and some A320s earlier this summer, this deal leaves Alaska Airlines with 39 A320s in the operating fleet along with 10 A321neos.

Source:  Alaska Airlines
Associated URL: Click here to visit

 

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