San Francisco-based XOJet and TWC Aviation announced an alliance today under which TWC joins XOJet’s exclusive platinum partner network and TWC becomes a “preferred provider” for XOJet clients interested in aircraft ownership, management or private jet sales and acquisition services. Additionally, XOJet plans to leverage the TWC Aviation charter fleet of large-cabin business jets throughout North America and Asia. TWC manages more than 50 business aircraft throughout the U.S. and abroad, with offices in San Jose, Calif., Los Angeles and New York.
Quest Aircraft named Samuel Hill as its new CEO, the Sandpoint, Idaho-based turboprop manufacturer announced today. Hill has more than 40 years of aviation experience, most recently with Honda Aircraft, from which he retired earlier this year. Before joining Honda, he spent 10 years with Embraer Aircraft in key leadership positions, including president and vice chairman, and was responsible for starting Embraer’s corporate aircraft division. Dave Vander Griend, who had been serving as Quest’s interim CEO since mid-2011, will continue in his role as chairman of the board.
Embraer’s Legacy 600/650 program reached a significant milestone with the delivery of the 200th Legacy business jet, in this case a Legacy 650 that was handed over to China’s Minsheng Financial Leasing last week at Embraer’s headquarters in São Paulo, Brazil. This aircraft, one of the 13 Legacy 650s that Minsheng ordered last October, will be used by an undisclosed Chinese customer. Minsheng also has an outstanding order for three Embraer Lineage 1000 bizliners.
Piaggio Avanti fractional provider Avantair closed on $2.8 million in new funding yesterday via the issuance of senior secured convertible notes. The notes have a three-year term and an interest rate of 2 percent. In addition, the company restructured its existing aircraft financing arrangements with Midsouth Services, reducing its monthly lease payments by more than $1.8 million during the next 15 months and extending the maturities on two aircraft.
Boeing projects the world’s airlines should see reasonable liquidity and pricing for new-aircraft delivery financing next year as jet builders accelerate production to meet demand, the manufacturer announced in London on Tuesday while issuing its fifth annual finance market forecast.
Jetex Flight Support has taken its first major step to expansion in South America, particularly in Brazil. It recently started supplying fuel to international operators at domestic airports in Brazil. The company sees Brazil as a growing market for private aviation, with business aircraft traffic at airports within 100 miles of São Paulo doubling during the past five years. Jetex said it will work directly with into-plane agents to help lower prices for their clients by eliminating third-party costs.
Virgin Australia said it has reached an agreement in principle to buy a 100-percent stake in Perth, Australia-based Skywest Airlines. Announced on October 30 and still subject to approvals from regulatory authorities and Skywest shareholders, the deal would see the Western Australian regional assume the Virgin Australia brand and, according to Virgin Australia CEO John Borghetti, benefit from further investment by the would-be parent company.
Hawaiian Airlines’ parent company has begun the process of creating a new regional subsidiary to serve the Hawaiian islands of Molokai and Lanai with a used ATR 42 it bought in late October from Dublin, Ireland’s ASL Aviation Group. A separate purchase agreement between the two companies called for delivery of another ATR 42 last month.
Avincis is the new name for World Helicopters, a firm that combined the Bond Aviation Group with Inaer when it took over the former last spring. The group, owned by KKR and Investindustrial, operates 400 aircraft, 350 of them helicopters.
Republic Airways’ efforts to “restructure” its Indianapolis-based Chautauqua Airlines subsidiary appear to have yielded their intended results. During a November 1 conference call to discuss the company’s third-quarter earnings, Republic CEO Bryan Bedford reported that the regional airline holding company has found a way to mitigate future negative cash flows at Chautauqua by some $45 million over five years, largely by reaching new business agreements with several “key stakeholders ” and returning idled aircraft to revenue service.