GE unit in talks to buy Milestone Aviation: WSJ

Category Archives:Aviation News

GE unit in talks to buy Milestone Aviation: WSJ

GE unit in talks to buy Milestone Aviation: WSJ

General Electric Co’s (GE.N) finance arm is in talks to buy Milestone Aviation Group Ltd, as the U.S. conglomerate looks to expand its aircraft-leasing operation into helicopters, The Wall Street Journal reported, citing people familiar with the matter.

The purchase price for Milestone could be more than $2.5 billion, according to some of the people, the Journal reported.

Milestone, co-founded by NetJets Inc founder Richard Santulli, has announced plans for an initial public offering of stock, according to the report.

Buying Milestone, the world’s largest helicopter-leasing company by fleet value, would broaden GE Capital Aviation Services’ portfolio beyond the competitive plane-leasing business, as it currently owns no helicopters, the Journal said.

“As a matter of policy, we don’t comment on market rumors or speculation,” a spokeswoman for Milestone Aviation said.

Officials at General Electric were not immediately available for comment.

(Reporting By Manya Venkatesh in Bangalore; Editing by Simon Jennings)

Source: Reuters.com

Category Archives:Aviation News

Embraer breaks ground on legacy 500/450 assembly facility

Embraer Executive Jets

Embraer broke ground today on its Legacy 500 and Legacy 450 assembly complex here in Melbourne, Florida. At the ceremony, which included Florida Governor Rick Scott, Brevard County and city officials, the Company celebrated this significant addition to its existing 212,000 square-foot campus at Melbourne International Airport.

“With the support of Governor Scott together with his team at Enterprise Florida, the Space Coast Economic Development Commission, Brevard County, the City of Melbourne, and the Melbourne Airport Authority, we are doubling the size of our Executive Jets campus in the US with the addition of these game changing aircraft assembly facilities to the already operational Phenom assembly line,” said Embraer President and Chief Executive Officer Frederico Fleury Curado. “Furthermore, our recently inaugurated Embraer Engineering and Technology Center, the first engineering center outside Brazil, shows the strong level of commitment to our customers as well as our faith in this remarkable community.”

The new 236,000 square-foot facility is expected to be operational by 2016. It will feature four new buildings: an assembly hangar, a paint facility, a completion center and flight preparation facility, and a new dedicated delivery center.

“Surpassing all original expectations during certification tests, the clean sheet design Legacy 500 and Legacy 450 represent a new, game changing generation of business aircraft” said Marco Tulio Pellegrini, President & CEO, Embraer Executive Jets. “With this state-of-art facility at the heart of an important aeronautical center in the region and the engagement of all stakeholders, we are very confident in the future of these programs.”

Embraer will add 600 new hires to its almost 400 employees in the area in a ramped up mode over a period of four years beginning in 2016.

Governor Scott said, “Embraer’s creation of 600 jobs is great news for Melbourne families and the surrounding community. With the creation of 643,100 jobs since December 2010, it’s important that we remain focused on continuing Florida’s economic momentum. By removing the sales tax on manufacturing equipment, Florida’s businesses, like Embraer, will have a more competitive advantage over other states and countries, which will help businesses create more jobs for families.”

“With addition of the Legacy final assembly and delivery program, Embraer will double their presence at Melbourne International Airport (MLB) by 2016,” said Greg Donovan, Melbourne International Airport Director. “The airport team is committed to an on-time aircraft rollout that is under budget.  As a leading aircraft manufacturer, Embraer values the distinct advantages of our airport infrastructure and will benefit from the competitive advantages of being located in Florida’s Space Coast.  Embraer’s success exemplifies why MLB is the nation’s fastest growing aerospace and aviation manufacturing center.”

“Today’s major milestone takes us full circle, back to 2008, when ground was broken on Embraer’s first facility in Brevard. In six short years, Embraer has developed a footprint in our community that has significantly strengthened our standing as an aviation hub,” said Lynda Weatherman, president and chief executive officer, Economic Development Commission of Florida’s Space Coast. “This is a true economic development success story, one that has paved the way for growth in one of our community’s most important sectors.”

“While it was a community team that helped bring Embraer to the Space Coast six years ago, it is our people who have helped keep them here,” said Mary Bolin Lewis, District 4 commissioner and chairman of the Brevard County Board of County Commissioners. ”How fitting that many years later, we are once again welcoming Embraer to the community. Instead of welcoming them for the first time, we are welcoming them back home. The third time is just as exciting as the first.”

“The Legacy assembly facility is the kind of coveted project every city hopes to land. Embraer is the high caliber corporate partner every city hopes will call their city home,” said City of Melbourne mayor Kathy Meehan. “Our city is proud to be home to Embraer and we congratulate them on their continued growth here.”

“Brevard County has long had an environment conducive to business growth, and to bolster that, we have a workforce that consists of highly technical, skilled individuals.” Said Senator Thad Altman, Florida State Senate District 16. “We have successfully been able to market our pro-business climate and talent as assets to not only attract a world-class company like Embraer, but to foster even more growth. This is a testament to the level of ingenuity that exists in our community.”

Secretary of Commerce and president & CEO of Enterprise Florida, Inc., Gray Swoope attended the event and spoke about Embraer’s impact on the state. “I want to thank Embraer for their continued investment in Florida. This expansion is a testament to the state’s business climate and location as a global leader in aviation. This highly sought after expansion is especially important as it will create additional opportunities for suppliers in the aerospace and aviation industry. We look forward to Embraer’s continued growth.”

Source and image: Embraer

Category Archives:Aviation News

700th AW139 goes to Samsung Techwin Co Ltd

AW139s_Samsung Techwin

AgustaWestland is pleased to announce it handed over two AW139 intermediate twin helicopters to Samsung Techwin Co., Ltd. of the Republic of Korea during a ceremony held at AgustaWestland’s Vergiate plant in Italy.

These helicopters will be used to perform corporate transport. The delivery includes the 700th AW139 setting a major production milestone coming approximately ten years after its introduction into service in which time it has set the new standard in its category and become the bestselling aircraft in the intermediate twin category.

Samsung Techwin, a leading high technology company operating globally in business sectors such as electronics, security, defence, robotics and energy, has been operating AW139s since 2009 with orders for four aircraft placed. The AW139 has achieved great sales success in the Republic of Korea with the sale of aircraft for a number of applications including corporate transport, coast guard duties and firefighting.

Mr. Ki Choon Yang, General Manager, Helicopter Service Team Leader of Samsung Techwin said: “We are delighted to celebrate together with AgustaWestland this important milestone today. We have been operating the AW139 for 5 years and we are extremely satisfied of its performance, safety and reliability. We are very much looking forward to adding to our fleet these two brand new AW139s.”

Source and image: AgustaWestland

Category Archives:Aviation News

Vietnam Airlines’ first A350 aircraft enters final assembly

Vietnam airlines _A350

The entry into final assembly comes a day after the aircraft gained type certification from the European Aviation Safety Agency (EASA), which certified it with two maximum take-off weight variants: a basic 268t and a higher 275t option.

The A350 is scheduled for delivery in mid-2015, and Vietnam Airlines will be the first Asian carrier to operate the type.The airline has 10 A350-900s order, and Airbus says that they will be used on long-haul services.

Flightglobal’s Ascend Fleets database shows that the airline will receive an additoinal four A350s from lessors CIT Aerospace and AerCap.

Source: Flightglobal

Category Archives:Aviation News

Sikorsky Unveils S-97 RAIDER Helicopter

Sikorsky S-97 RAIDER Helicopter

WEST PALM BEACH, Fla., Oct. 2, 2014 /PRNewswire/ — Sikorsky Aircraft, a subsidiary of United Technologies Corp. (NYSE: UTX), today unveiled the first of two S-97 RAIDER™ helicopter prototypes, signaling the start of activities in the program’s test flight phase and a major step toward demonstrating the new – and first – armed reconnaissance rotorcraft featuring X2™ Technology designed for military missions.

“Today, Sikorsky unveiled the next generation of military rotorcraft, with capabilities and performance never seen before in our industry,” said Sikorsky President Mick Maurer. “Just four years ago, we announced plans to build the S-97 RAIDER and teamed with some of the best companies in the industry, understanding the need to ensure aircraft development would not falter as government defense budgets shrank in response to economic pressures. Sikorsky is proud of its leadership in this area, and of the leadership the S-97 RAIDER represents among the world’s military rotorcraft.”

Based on Sikorsky’s rigid X2™ rotor coaxial design, the S-97 RAIDER helicopter features next-generation technologies in a multi-mission configuration (armed aerial scout or light assault), capable of carrying six troops and external weapons. The coaxial counter-rotating main rotors and pusher propeller provide cruise speeds up to 220 knots (253 mph), more than double the speed of conventional helicopters. Sikorsky will offer the RAIDER™ aircraft as a replacement for the U.S. Army’s OH-58D Kiowa Warrior helicopter fleet based on the Army’s future operational and financial priorities, and for the special operations platform.

“Military rotorcraft fleets need maximum performance and increased capabilities to achieve their objectives,” Maurer added. “The RAIDER delivers on that with its greatly improved maneuverability and speed, significantly improved high/hot hover performance, and greater range and endurance.”

The single-engine RAIDER features a composite airframe and a maximum gross weight of slightly more than 11,000 lbs. The aircraft will be capable of carrying an array of weapons and sensors, necessary for the mission. The cockpit will fit two pilots, seated side-by-side. The flexible cabin space will carry up to six combat-equipped troops, or additional fuel and ammunition for extended missions.

“RAIDER marks the first unveiling of a new relevant rotorcraft configuration in 30 years,” said Mark Miller, Vice President of Research & Engineering. “With the RAIDER program, Sikorsky has brought innovation to every aspect of the process, rethinking the way we design, build, test and support the product. We’ve kept a close eye on lowering development, production and support costs while increasing productivity and quality, and we are confident that the RAIDER is the solution for the future warfighter. We are looking forward to getting air under its tires and expanding the envelope in flight test in the coming months.”

The RAIDER helicopter program is 100 percent industry funded. Sikorsky provides 75 percent of the investment, and 53 principal suppliers provide the remaining funding.

Sikorsky Aircraft Corp., based in Stratford, Connecticut, is a world leader in helicopter design, manufacture, and service. United Technologies Corp., based in Hartford, Connecticut, provides high technology products and services to the aerospace and building systems industries.

This press release contains forward-looking statements concerning opportunities for development, production and sale of helicopters. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices, budget plans, availability of funding and in the type and number of aircraft required; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corporation’s Securities and Exchange Commission filings.

SOURCE Sikorsky Aircraft