AINalerts » March 28, 2012

March 28, 2012 - 1:45pm
Hawker Beechcraft gets temporary breather from debt

Hawker Beechcraft yesterday secured more time to solve its debt problems through a restructuring plan, with lenders granting a 90-day forbearance agreement. The move staves off the immediate threat of a filing for Chapter 11 bankruptcy protection–a move that has been widely expected by industry analysts.

The manufacturer, which is owned by Onex and GS Partners (a division of investment banking giant Goldman Sachs), announced it had “reached an agreement with certain lenders that will provide the company with approximately $120 million of additional liquidity.”

March 28, 2012 - 1:40pm

A dedicated business aviation terminal will open at Tokyo Narita International Airport this Saturday, airport officials told AIN at ABACE 2012. Called Premier Gate, the new facility is close to Narita’s Terminal 2 and features co-located customs, immigration and quarantine (CIQ) facilities and a private lounge for departing and arriving passengers.

March 28, 2012 - 1:35pm

Commercial aviation is the biggest impediment to business aviation’s growth in Asia, according to Tay Tiang Guan, deputy director general of the Civil Aviation Authority of Singapore (CAAS). He said the rapid growth of the commercial aviation sector is taking the lion’s share of regulators’ attention and dominating airspace.

March 28, 2012 - 1:30pm

The largest barriers to growth of business aviation in the Asia Pacific region are “infrastructure, infrastructure and infrastructure,” GAMA president and CEO Pete Bunce told AIN at ABACE 2012. “There really is no business aviation infrastructure yet in the region. With infrastructure, there would be even more growth opportunities for the industry here in China and, more generally, in the Asia Pacific,” he commented.

March 28, 2012 - 1:25pm

ABACE organizers and exhibitors agree that the reborn show has been a great success that has put Asian business aviation firmly on the international airshow calendar. This year’s event, which ends tomorrow, fulfilled all of its objectives, according to NBAA president Ed Bolen. “We had 157 exhibitors,” he told AIN. “I’ve spoken to quite a few of them and I think its fair to say they are quite pleased with the quality of the people they are talking to.”

March 28, 2012 - 1:20pm

Avion Pacific and Hawker Beechcraft sealed a $50 million deal for 10 Beechcraft King Air twin-turboprops today at ABACE. The order is for a combination of the largest King Air–the 350i–and the smallest, the C90GTx. Deliveries will begin to the Shenzhen-based business aviation services group in the fourth quarter. The company will use the aircraft for VIP travel, pilot training, aerial mapping and weather modification missions.

March 28, 2012 - 1:15pm

Hong Kong-based Metrojet announced today that it anticipates that the FAA will grant it approval next month to maintain Embraer Lineage 1000s and Legacy 600/650s. Embraer granted authorization to Metrojet last November to be the first service center in greater China for those models. The company already holds maintenance approvals from Hong Kong, Canada, Bermuda, Isle of Man, Taiwan and Cayman.

March 28, 2012 - 1:10pm

CAE is launching training services for business aircraft pilots and mechanics in Asia. Starting later this year, the company will introduce programs covering the Bombardier Global 5000, Global Express and Global XRS; the Gulfstream G450 and G550; Dassault Falcon 7X; and the Sikorsky S-76C++ helicopter. Still to be determined is where in Asia CAE will install training centers to cover the new programs.

March 28, 2012 - 1:05pm

Hong Kong’s Asian Sky Group, a new business-aviation consulting firm, was officially launched this week at ABACE. Backed by Seacor Capital and Avion Pacific, Asian Sky is a strategic venture designed to leverage the two firms’ businesses and networks.

March 28, 2012 - 1:00pm

Shanghai Hawker Pacific (SHP) general manager Carey Matthews and deputy general manager Dr. George Lu signed a preliminary service center agreement with Cessna Aircraft president and CEO Scott Ernest today at ABACE. The agreement is designed to pave the way for SHP’s Business Aviation Service Centre at Shanghai Hongqiao Airport to become a Cessna-authorized service facility.

 

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