General Electric has purchased the bulk of Bombardier Capital’s corporate aircraft leasing and financing business. The selling price of $339 million represents the “book value” of the loans and financial leases outstanding, Bombardier said.
Aviation International News » August 2003
Brazil’s Embraer saw its net income for this year’s second quarter plummet to $4.9 million from $36.9 million during the same period a year earlier, as changes in the exchange rate between the U.S. dollar and Brazilian real continue to strongly influence the company’s balance sheets.
The NTSB is about a month into its investigation of the fatal crash of a Learjet 35 that was attempting to land at Groton New London Airport in Connecticut. The two ATP-certified pilots, the only people aboard, were killed in the August 4 accident.
The current standard industry fare level (SIFL) rates in effect from July through December 31 are: 0 to 500 sm–$0.1896; 501 to 1,500 sm–$0.1445; and more than 1,500 sm–$0.1390. The SIFL terminal charge is $34.66. SIFL fees are used to satisfy IRS requirements for operators to compute the value of non-business transportation aboard employer-supplied aircraft.
Phoenix Rising Aviation, an 18-month-old maintenance firm at Drake Field in Fayetteville, Ark., expects this month to receive its first RVSM STC for a Falcon 20, with group approval planned by year-end. The RVSM program is being developed primarily for Falcon 20s equipped with the original Collins AP-105 or Sperry SPC-500 autopilots. Cost is “under $200,000,” including height-monitoring tests. Earlier, Thunder Avionics in St.
Avionics Mobile Services in England has received UK CAA certification of its RVSM package for the BAC 111-475 and -500 series. The package, developed in partnership with Aeromech in Everett, Wash., includes an air-data display unit from IS&S of Malvern, Pa., and costs about $195,000 installed. Downtime is about three weeks.
Aviation Technology Group selected Avidyne to supply its FlightMax Entegra integrated avionics system for the company’s Javelin, a tandem two-place very light business jet under development. In the Javelin, the Avidyne system will include two 10.4-inch screens in each of the fore and aft cockpits to display primary navigation, moving maps and datalink information.
Dallas Airmotive senior manager of marketing Bill Barber, 61, retired last month after a decade with the engine maintenance company. Barber, who joined Dallas Airmotive in 1992, developed major marketing programs for the company, and managed Web site development and trade-show appearances.
On September 4 Dallas Airmotive officially opens its regional turbine engine shop in Boynton Beach, Fla., just south of West Palm Beach. The new facility expands the company’s network of locations where it provides comprehensive inspections and maintenance for Honeywell TFE731s and Pratt & Whitney Canada PT6s and JT15Ds. Dallas Airmotive further expanded its operations with the recent acquisition from Sabreliner Corp.
On July 31, less than two months after receiving FAA and Transport Canada certification, the new Bombardier Challenger 300 super-midsize business jet was awarded JAA approval. The first customer Challenger 300 is scheduled to enter service in the fourth quarter.