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Aircraft Finance & Leasing News - Europe.

Dec 7, 2008

The market for very light jets over the next 10 years could nose dive if the recession gripping many Western economies is as long and deep as some analysts predict, according to the latest report from UK aviation consultancy PMI Media. The Brighton-based company forecasts 4,610 VLJs valued at $9.54 billion will be delivered between 2008 and 2017 - a 23% reduction on the 5,970 deliveries PMI predicted in its October report, reflecting the recent filing by Eclipse Aviation for Chapter 11 bankruptcy protection, the halting by AAI Acquisitions of the A700 programme and the collapse of US air taxi operator DayJet. PMI Media tracks the VLJ market - including models such as the Cirrus SJ50 Vision, Citation Mustang, Diamond D-Jet, Eclipse 500, Embraer Phenom 100, HondaJet, PiperJet and Spectrum S-33 Independence - by analysing supplier order backlogs and purchasing trends by air taxi, corporate and individual aircraft operators. "Prospects for the VLJ market for the next 10 years have declined sharply over the last few weeks," says PMI Media editorial director Philip Butterworth-Hayes. Dec 4, 2008

With an economic crisis hitting airlines around the globe, the world's biggest makers of passenger aircraft are carefully managing their order books to ensure they don't end up building planes that have no takers. In most cases, hefty backlogs mean that when one airline cancels an order, carriers further down the waiting list get their aircraft earlier than expected. But the manufacturers' worst-case scenario is a "white tail" -- a completed plane with no buyer lined up to take delivery. "When airlines disappear or walk away, then there's money tied up in airplanes, and that's not a good negotiating position," says analyst Sandy Morris at ABN Amro bank in London. Dec 4, 2008

Air Europa, Embraer

Air Europa parent company Globalia has converted purchase rights for six Embraer 195s originally detailed in February of this year into firm orders. Embraer says the six aircraft were previously listed with an undisclosed customer in its third quarter firm backlog. Delivery of the first aircraft is scheduled for mid-2010. In addition to the latest transaction Embraer says that one E-Jet from Globalia's original six-aircraft order has been sold to an undisclosed customer "resulting in a fleet of 11 Embraer 195 jets when all deliveries are completed". In June Embraer noted that six 195s originally targeted for scrapped Spanish start-up Universal Airlines being established by Globalia president Juan Jose Hidalgo might be used for an alternative project. Embraer says Air Europa will be the first carrier to operate the 195 in a single-class 122-seat layout. Planned markets for the 195s include short and medium-haul flights in Spain, the Balearic and Canary Islands and Europe. Dec 3, 2008

Ambeo

UK-based air taxi start-up Ambeo is seeking to limit the risk of its planned launch by opting for two aircraft types at the outset. Earlier this year, founder Frank Noppel said Cranfield-based Ambeo was mulling over all three very light jet contenders - the Cessna Citation Mustang, Eclipse 500 and the Embraer Phenom 100 - with a view to buying 10 aircraft and expanding the fleet to around 30 aircraft within five years. That was later narrowed down to the cheaper Eclipse as the single-fleet type candidate until its US airframer filed for Chapter 11 bankruptcy, which forced Ambeo to rethink its strategy and add one of the more expensive and larger Mustangs. Dec 4, 2008

Dassault Aviation

Dassault Aviation executive chairman Charles Edelstenne was adamant that his company had no interest in increasing its 5% stake in it said last August Thales. However, late November brought a U-turn, when it was revealed that Dassault had entered negotiations to buy the 20.8% Thales stake held by telecommunications group Alcatel-Lucent. The change of heart was prompted by a sudden darkening of the business jet forecast, argues defence analyst Francis Tusa. He notes that "last year, everything was riding high with business jets", but adds that enough has happened since July/August for the current outlook to be "arguably the single biggest thing" behind Dassault's move. Dec 2, 2008

SAS Scandinavian Airlines, Bombardier

SAS Scandinavian Airlines has taken delivery of its first Bombardier CRJ900 regional jet, one of 12 which are replacing the carrier's Bombardier DHC-8-Q400 turboprops. The aircraft, for the airline's Danish division, is configured with 88 seats and will perform its first flight to the city of Aalborg on 17 December. "It is very gratifying that we can now offer our customers and employees a new and thoroughly modern aircraft," says Scandinavian Airlines' Danish chief Susanne Larsen. Dec 3, 2008

Transaero Airlines, Tupolev

Russian carrier Transaero has taken delivery of a second Tupolev Tu-214 aircraft, part of batch of 10 being acquired by the operator. The twin-engined Aviadvigatel PS-90A-powered Tu-214 was handed over at the Kazan aircraft production plant, under a contract between Moscow-based Transaero and Russia's Finance Leasing. Transaero's general director, Olga Pleshakova, says the delivery reiterates the carrier's commitment to receiving the type. Dec 2, 2008

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Publication:AirGuide Business
Date:Dec 8, 2008
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