Hawker Beechcraft’s key creditors voted “overwhelmingly” on Friday to approve the Wichita-based aircraft manufacturer’s proposed joint plan of reorganization as part of its efforts to emerge from bankruptcy. JPMorgan Securities and Credit Suisse Securities will jointly structure, arrange and syndicate $600 million in exit financing for the post-bankruptcy standalone company, Beechcraft Corp.
AINalerts » January 29, 2013
Eurocopter is now anticipating that a solution to the main gearbox problem that has grounded the North Sea fleet of EC225s will be available in April. According to Eurocopter CEO Lutz Bertling, the solution will at least be a “safety barrier.”
Clearwater, Fla.-based Piaggio Avanti fractional operator Avantair says that its flight and maintenance operations have fully recovered from a three-week voluntary standdown that ended in November. Further, it has closed a second round of funding since the grounding and hired a new COO.
The Cessna Citation CJ4 is currently the only business jet certified with (but no longer flying with) a lithium-ion main-ship battery, using lithium-iron phosphate, not the lithium-cobalt oxide battery found on the Boeing 787, which is currently grounded in the wake of battery fires.
The European Aviation Safety Agency (EASA) has invited NBAA to take part in the formulation of new rules that would differentiate rest requirements for on-demand aircraft charter operators from those that cover scheduled air carriers. Current EASA regulations on crew rest are “one size fits all,” said NBAA vice president for safety, security, operations and regulation Doug Carr. They make no allowances for the different nature of the on-demand charter business when compared to scheduled airline operations, NBAA said.
Business aviation played a key part in bringing political leaders to the World Economic Forum (WEF) in the Swiss resort of Davos last week. Jet Aviation’s Zurich FBO handled much of the traffic and saw a “slight increase” over the 2012 event, handling 747 movements and 1,531 passengers. Despite poor weather and fog that disrupted flights early in the week, Jet Aviation set handling records on the days preceding the WEF, managing 150 movements on January 22 and 126 the following day.
Transportation Secretary Ray LaHood announced to DOT employees this morning that he will not be staying on for a second term. The former seven-term Congressman was the lone Republican in President Obama’s first Cabinet. During his four years as DOT secretary, LaHood was Obama’s point man for increased infrastructure spending to help heal the economy. He said he will stay on until his successor is confirmed.
The 2013 NBAA Schedulers & Dispatchers Conference held last week in San Antonio, Texas, attracted more than 2,400 attendees, giving it the fourth-highest attendance count in the show’s history. This year’s event, which serves as a showcase for the FBO industry and other flight service providers, had a conference-record 425 exhibitors and 32 breakout sessions, which served to educate attendees on many aspects of flight department operations. Next year, for its 25th anniversary edition, the Schedulers & Dispatchers Conference will mark its first return to New Orleans in 20 years.
328 Group acquired an FBO and business aircraft maintenance and repair station at London Biggin Hill Airport from Jet Aviation earlier this month. The facility has been renamed Jets (Biggin Hill) Ltd. The acquisition brings new aircraft maintenance capabilities to the 328 Group, including the Dassault Falcon 900, 2000 and 7X and Cessna Citation 525, 550 and 560, in addition to its existing services for the Bombardier Challenger 300, 601, 604 and 605; Learjet 45; Dornier 328; and Hawker 700, 800, 800XP, 850XP, 900XP, 950XP and 1000.
Custom Aircraft Cabinets (CAC) will officially open its new 146,000-sq-ft facility in Little Rock, Ark. tomorrow. The expansion represents a $6 million investment and triples the size of the existing complex at Little Rock Bill and Hillary Clinton National Airport/Adams Field. CAC is one of the country’s largest suppliers of high-end custom cabinetry and upholstery goods for business jets. Among those expected to attend the opening ceremonies is U.S. Representative Tim Griffin (R-Ark), a member of the Congressional Aviation Caucus.