Tag: Dash 8-400

Nordic Aviation Capital to be De Havilland Canada's First Customer for Classic Overhead Bin Extension on Dash 8-400 Aircraft

Provided by De Havilland Aircraft of Canada Limited/CNW

TORONTO, Feb. 25, 2020 /CNW/ – De Havilland Aircraft of Canada Limited (“De Havilland Canada”) announced today that Nordic Aviation Capital will be the launch customer for the Classic Overhead Bin Extension Solution for the Dash 8-400 aircraft. Under this agreement, De Havilland Canada will be the exclusive supplier of all future Dash 8-400 aircraft classic bin extension modifications for Nordic Aviation Capital’s fleet. The cost-efficient and environmentally friendly solution provides additional stowage volume in the Dash 8 aircraft’s cabin and is the perfect solution to meet growing customer requirements for more baggage space.

De Havilland Canada specifically designed the Classic Overhead Bin Extension to accommodate standard roll-aboard bags, thereby reducing the need for gate check service, and greatly improving airline efficiency and passenger comfort. Following each modification, the bins will feature more baggage volume, a larger door opening, a new door with NextGen latches, and will offer a consistent look-and-feel with newer Dash 8-400 aircraft interiors. Each bin also retains the robust design features that have been proven over millions of flights and will now accommodate two standard 22″ Travelpro bags per bin section.

“Over the last few years we have seen an increase in customer carry-on bags as well as an expansion in bag sizes. Having a new configuration that is able to meet these needs is very exciting for us and our customers,” said Tom Turley, Chief Operating Officer, Nordic Aviation Capital. “The Classic Overhead Bin Extension will allow those boarding and departing the aircraft to store and access their belongings with ease, improving overall gate-time and efficiency for passengers and airlines.”

“We are proud to announce Nordic Aviation Capital as the launch customer for the Classic Overhead Bin Extension for the Dash 8-400 aircraft,” said Todd Young, Chief Operating Officer, De Havilland Canada. “We are excited to have an environmentally friendly solution that manages the need for increased capacity in overhead bins. The extension will provide passengers a more enjoyable travel experience, and airlines a consistent interior layout.”

The Classic Overhead Bin Extension solution is currently being developed with De Havilland Canada’s supplier Safran Interiors.

Chorus Aviation Announces Fourth Quarter and Year-End 2019 Financial Results

Provided by Chorus Aviation Inc/CNW

A year of outstanding accomplishments

Q4 2019 Financial Highlights and Accomplishments

  • Net income of $36.6 million, or $0.23 per basic share, a period-over-period increase of $34.4 million.
  • Adjusted net income1 of $23.3 million, or $0.15 per basic share, a decrease of $12.0 million due to expected reductions resulting from the 2019 amendments to the Capacity Purchase Agreement (‘CPA’) (the ‘2019 CPA Amendments’) offset by growth in the Regional Aircraft Leasing segment.
  • Adjusted EBITDA1 of $88.6 million, a decrease of $3.4 million.
  • Increased the committed leased fleet to 64 aircraft, representing growth of 60% year-over-year.
  • Added new aircraft type through a sale leaseback transaction with airBaltic for five new Airbus A220-300s.
  • Added Croatia Airlines as a new airline customer to the leasing portfolio.
  • Extended three aircraft lease agreements with Aeromexico Connect and completed an additional sale leaseback transaction with IndiGo for two new aircraft.
  • Completed the Extended Service Program (‘ESP’) on three additional Dash 8-300s, bringing the total number of ESP aircraft generating leasing revenue under the CPA to 13.
  • Established a regional aircraft parts depot in Dubai, UAE, enhancing Chorus’ ability to market its parts provisioning and sales offering internationally.

Full-Year 2019 Financial Highlights and Accomplishments

  • Net income of $133.2 million, or $0.85 per basic share, a period-over-period increase of $65.7 million.
  • Adjusted net income1 of $96.2 million, or $0.61 per basic share, a decrease of $26.1 million due to expected reductions resulting from the 2019 CPA Amendments offset by growth in the Regional Aircraft Leasing segment.
  • Adjusted EBITDA1 of $341.7 million, an increase of $1.2 million.
  • Increased adjusted EBT1 in the Regional Aircraft Leasing segment to 22% of overall adjusted EBT.
  • Amended and extended the CPA with Air Canada to December 31, 2035.
  • Jazz pilots ratified their collective agreement with no strike or lockout provisions for the extended term of the CPA.
  • Completed Air Canada investment for gross proceeds of $97.26 million and raised gross proceeds of $86.3 million through a public offering of 5.75% Unsecured Debentures to support the growth of Chorus.
  • Executed a purchase agreement for nine CRJ900s that will earn leasing revenue under the CPA starting in 2020.
  • Completed the first sale of three leased Dash 8-400s, generating net proceeds, after debt repayment, of US $25.0 million for reinvestment in the Regional Aircraft Leasing segment.
  • Received numerous awards as a top employer in Canada, and named among Canada’s Safest Employers 2019, taking gold in the Transportation category.

HALIFAX, Feb. 12, 2020 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) today announced fourth quarter and year-end 2019 financial results.

“2019 was a transformative year for Chorus creating significant value for all of our stakeholders. On total revenues of $1.4 billion, we generated adjusted EBITDA of $341.7 million.

We secured and strengthened our partnership with Air Canada by amending and extending the CPA for a further 17 years, providing a minimum of $2.5 billion in contracted revenues with opportunities to increase further. This was a critical accomplishment as it laid a strong, long-term foundation from which we continue to build and diversify our company. Air Canada’s $97.26 million investment in Chorus equity, which included a five-year hold period, further aligns our organizations and is a strong endorsement of our growth and diversification strategy.

Our group of companies performed very well, and most importantly, did so safely and with operational integrity. We carried just under 11 million passengers under the Air Canada Express brand, secured new contracted flying missions in several international markets, and established an aircraft parts depot in Dubai. 

We made significant advancements in maturing our business to become a worldwide provider of regional aviation solutions. We successfully raised $183.5 million in capital and secured a US $300 million warehouse facility to support our expansion in regional aircraft leasing. We now have a committed portfolio of 64 aircraft, a 60% increase over 2018, placed with 16 customers. We’re pleased with the returns we’re generating in our leasing business, which is delivering strong and consistent margins. Together with the aircraft we have leased under the CPA our committed portfolio comprises 1352,3 aircraft with approximately US $2.1 billion2,3,4 in future contracted lease revenue, making Chorus one of the world’s largest regional aircraft lessors. 

We remain confident that we can expand our leasing portfolio by up to 20 aircraft per year funded through a combination of debt and cash from operations. The timing of these future transactions will not occur on a consistent basis; however, we expect the majority will be executed in the second half of this year. The expected growth in aircraft leasing will more than offset planned fixed fee reductions in the CPA in 2020 and beyond.

I extend my thanks and gratitude to the Chorus team for making 2019 a standout year in our history, and I look forward to the many new, exciting milestones we’ll achieve together,” stated Joe Randell, President and Chief Executive Officer, Chorus.

Fourth Quarter Summary

In the fourth quarter of 2019, Chorus reported adjusted EBITDA of $88.6 million, a decrease of $3.4 million or 3.7% relative to the fourth quarter of 2018.

The Regional Aircraft Leasing segment’s adjusted EBITDA increased by $12.3 million primarily related to the growth in aircraft earning leasing revenue. The sale of three Dash 8-400s resulted in net cash proceeds of US $25.0 million and produced a strong internal rate of return since the acquisition of these aircraft. This disposal also produced an accounting loss related to the wind-up of the special purpose entities that lowered adjusted EBITDA and adjusted net income by $3.4 million and $1.3 million, respectively.

In line with expectations, the Regional Aviation Services segment’s adjusted EBITDA decreased $15.8 million. The decrease reflects the 2019 CPA Amendments which reduced the Fixed Margin and Performance Incentive revenue when Chorus moved to market-based compensation rates. Beyond the changes related to the 2019 CPA amendments, fourth quarter results were impacted by:

  • increased stock-based compensation of $6.0 million due to the change in the share price inclusive of the reduction related to the change in fair value of the Total Return Swap which was implemented in the fourth quarter of 2019: and
  • decreased capitalization of major maintenance overhauls on owned CPA aircraft over the previous period of $1.2 million.

Adjusted net income was $23.3 million for the quarter, a decrease of $12.0 million due to:

  • the $3.4 million decrease in adjusted EBITDA previously described;
  • an increase in depreciation of $6.6 million primarily related to additional aircraft in the Regional Aircraft Leasing segment;
  • an increase in net interest costs of $5.3 million primarily related to additional aircraft debt in the Regional Aircraft Leasing segment; and
  • an increase in non-operating costs of $2.5 million primarily related to the loss on disposal of an engine of $1.2 million and a change in foreign exchange losses of $0.8 million; offset by
  • a $5.7 million decrease in income tax expense resulting from lower adjusted EBT.

Net income increased $34.3 million primarily due to the change in net unrealized foreign exchange gains on long-term debt of $46.2 million offset by the previously noted $12.0 million decrease in adjusted net income.

Year-End Summary

Chorus reported adjusted EBITDA of $341.7 million for 2019, an increase of $1.2 million over 2018.

The Regional Aircraft Leasing segment’s adjusted EBITDA increased by $42.4 million was primarily due to the growth in aircraft earning leasing revenue.

In line with expectations, the Regional Aviation Services segment’s adjusted EBITDA decreased by $41.3 million, which reflect the 2019 CPA Amendments which reduced the Fixed Margin and Performance Incentive revenue when Chorus moved to market-based compensation rates. These reductions were partially offset by the implementation of the Controllable Cost Guardrail that mitigated the expected CPA margin shortfall resulting from reduced fees. Beyond the changes related to the 2019 CPA Amendments, 2019 results were impacted by:

  • increased stock-based compensation of $15.0 million due to the change in the share price inclusive of the reduction related to the change in fair value of the Total Return Swap which was implemented in the fourth quarter of 2019;
  • decreased capitalization of major maintenance overhauls on owned CPA aircraft of $1.9 million over the previous period; offset by
  • increased aircraft leasing under the CPA.

Adjusted net income of $96.2 million, decreased over 2018 by $26.1 million due to:

  • an increase in depreciation of $18.5 million primarily related to additional aircraft in the Regional Aircraft Leasing segment;
  • an increase in net interest costs of $15.5 million primarily related to additional aircraft debt in the Regional Aircraft Leasing segment; and
  • an increase in non-operating costs of $5.6 million primarily related to foreign exchange losses of $4.2 million in addition to a loss on disposal of property and equipment of $0.5 million; partially offset by
  • the $1.2 million increase in adjusted EBITDA previously described; and
  • a decrease in income tax expense of $12.2 million resulting from lower adjusted EBT.

Net income increased $65.7 million over 2018 due to the change in net unrealized foreign exchange gains on long-term debt of $90.8 million and decreased employee separation program costs of $3.1 million; offset by the previously noted decrease of $26.1 million in adjusted net income and increased signing bonuses of $2.0 million related to the Jazz pilot collective agreement.

Outlook

(See cautionary statement regarding forward-looking information below)

The 2019 CPA Amendments became effective on a retroactive basis to January 1, 2019. Further information concerning the 2019 CPA Amendments and the Air Canada Investment is contained in the Chorus’ Material Change Reports dated January 24, 2019 and February 13, 2019, which are available on SEDAR at www.sedar.com. The 2019 CPA Amendments resulted in a reduction in fixed fees starting on January 1, 2019, as Chorus moved to market-based rates under the CPA. The reduction was implemented by eliminating the Infrastructure Fee per Covered Aircraft and the Fixed Margin per Covered Aircraft (as this term was defined in the CPA) which were replaced with a single Fixed Margin. As a result, fixed fee revenue in each of 2019 and 2020 is anticipated to be $75.2 million per year as compared to $111.3 million in 2018. In addition, the maximum future available Performance Incentives reduce from $23.4 million in 2019 and 2020 to an annual average maximum available amount of $3.4 million for the full term of the CPA. The near-term reductions are more than offset over the term of the CPA by incremental contracted revenue secured with the extension of the agreement including fixed fees and aircraft leasing.

Aircraft leasing revenue under the CPA, which is included in the Regional Aviation Services segment, is expected to grow with the delivery of nine committed CRJ900s in 2020, three ESPs to be completed in 2020 and two remaining ESPs by 2022. The Regional Aircraft Leasing segment’s future revenue is expected to grow in 2020 and at a minimum Chorus will have 60 aircraft equivalent earning revenue during the year versus 43 in 2019.

With the addition of the aircraft under both the Regional Aircraft Leasing segment and the aircraft leasing revenue under the CPA, Chorus’ estimated future contracted lease revenue is approximately US $2.1 billion4. When the CPA fixed margin revenue of US $0.6 billion is included with the total future contracted revenue, Chorus’ future revenue approximates US $2.7 billion4. (see footnote 4 in the following table)

Capital expenditures in 2020, including capitalized major maintenance overhauls but excluding expenditures for the acquisition of aircraft and the ESP are expected to be between $38.0 million and $44.0 million. Aircraft related acquisitions and the ESP capital expenditures in 2020 are expected to be between $442.0 million and $452.0 million.

Capitalized terms used but not defined in the Outlook section have the meanings given to them in Management’s Discussion and Analysis (the ‘MD&A’) dated February 12, 2020, which is available on Chorus’ website (www.chorusaviation.com) and SEDAR (www.sedar.com).

The following table provides the number of closed and pending transactions announced to-date:

(expressed in millions of US dollars, except number of aircraft)

Customer2016 –
Q3 2019
 IncreaseTotal 2016 –
2019(2)
Aeromexico33
Air Nostrum44
airBaltic55
Azul Airlines55
CityJet22
Croatia Airlines22
Ethiopian Airlines55
Falcon
Flybe88
Indigo628
Jambojet44
KLM Cityhopper11
Malindo Air(3)44
Philippine Airlines33
SpiceJet55
Virgin Australia33
Wings Air(3)22
Total Regional Aircraft Leasing55964
Deal value US$1,335.0
Future Lease Revenues US(4)$960.0
Total Regional Aviation Services7171
Future Lease Revenues US(4)(5)$1,180.0
Chorus Total Aircraft1269135
Future Lease Revenues US(4)$2,140.0

WestJet Dash 8 landing accident

News provided by LARA News – link to full story

By Glenn Sands February 3, 2020

The nose gear of a de Havilland Dash 8-400 operated by WestJet collapsed at the aircraft touched down at Terrace Northwest Regional Airport in British Columbia on January 31. The Dash 8 was operating from Vancouver, British Columbia when the accident happened.

Canada’s Aviation Herald stated that as C-FKWE touched down on the airport’s Runway 33, the plane’s nose gear collapsed before it came to halt on the runway. The flight’s 42 passengers left the aircraft with no injuries.

The Dash 8 was being operated by WestJet Encore, which is a regional arm of the LCC Canadian airline. The airline selected the Dash 8 to serve in the remote regions and currently has 47 of the type, most of which arrived in 2018.

Chorus Aviation Capital adds 34 aircraft on-lease in a record 2019

Provided by Chorus Aviation Inc/CNW

Concludes year with additional leases to Croatia Airlines and IndiGo, and lease extensions to Aeromexico Connect

Third-party committed leased fleet has now reached 641 aircraft

HALIFAX, Jan. 13, 2020 /CNW/ – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) announced today that Chorus Aviation Capital (‘CAC’) added a total of 34 aircraft on-lease in 2019. With this strong market performance, CAC’s third-party lease portfolio has now reached 641 aircraft.

Year-end, and previously unannounced transactions, include the acquisition of two mid-life Dash 8-400 aircraft (MSNs 4300 and 4301) on lease to Croatia Airlines, and an additional sale leaseback of two new ATR 72-600 aircraft (MSNs 1545 and 1552) with IndiGo. Additionally, CAC has extended its lease agreements with Aerolitoral, S.A. de C.V. (d.b.a. ‘Aeromexico Connect’), a subsidiary of Aerovías de México, S.A. de C.V. (d.b.a. ‘Aeromexico’), on three Embraer 190 aircraft previously acquired in 2017.

“We are delighted with the confidence that our customers have shown in us in 2019. Our strong focus on execution resulted in a significant expansion of our portfolio and the achievement of several significant milestones in the advancement of our leasing company,” said Steve Ridolfi, President, Chorus Aviation Capital. “In the three short years since the establishment of CAC, we have grown the third-party leasing portfolio to 641 aircraft valued at approximately US$1.3 billion with US$960 million in future contract lease revenue.”

“The year 2019 was one of many firsts for CAC. We secured a US$300.0 million warehouse facility, traded our first portfolio aircraft with the previously announced sale of three Dash 8-400 Falcon aircraft, and extended our first leases with the renewal of the three Aeromexico Connect E190 aircraft. With this successful aircraft re-lease outcome, we have no further scheduled lease expiries until 2021. Additionally, 2019 saw us deliver our first Airbus A220-300 aircraft for lease to airBaltic,” continued Mr. Ridolfi.

“We are pleased with the very positive momentum and the achievement of these important milestones,” commented Joe Randell, President and Chief Executive Officer, Chorus. “Trading aircraft, securing lease extensions, and penetrating new markets further demonstrates the capabilities of our maturing aircraft leasing business. As we continue to deliver on our growth strategy, our approach remains to conservatively and profitably build our leasing business.”

De Havilland Canada Demonstrates Commitment to the Middle East and Africa During this Week’s Dubai Airshow

Provided by De Havilland Aircraft of Canada/CNW

  • Announced commitments for up to 37 Dash 8-400 aircraft, the world’s most advanced, most productive and most eco-friendly turboprop
  • Signed a Memorandum of Understanding with Palma Capital Limited and Export Development Canada to facilitate potential Dash 8-400 aircraft transactions
  • Enhanced support to customers in the region with the addition of two Authorized Service Facilities

DUBAI, Nov. 21, 2019 /CNW/ – De Havilland Aircraft of Canada Limited (“De Havilland Canada”) today successfully concluded its activities for the 2019 Dubai Airshow.  During the Airshow, the company announced commitments for up to 37 Dash 8-400 aircraft, the world’s most advanced and most productive turboprop, and also announced three agreements relating to its aftermarket services. De Havilland Canada also showcased a Dash 8-400 aircraft operated by Jambojet, a brand of Kenya Airways, and Kenya’s first low-cost airline.

“We are especially pleased with our performance at this year’s Dubai Airshow since it is our first Airshow in the region since the relaunch of De Havilland Canada in June this year,” said Todd Young, Chief Operating Officer, De Havilland Canada. “Our teams have shown that they are working with our customers to secure the aircraft orders that will mutually drive our businesses forward. We have also demonstrated our commitment to enhance our aftermarket services network to ensure that our customers are benefitting from the highest level of support to maximize the efficiency of their fleets.”

The announced commitments to purchase aircraft included a firm order for three Dash 8-400 aircraft from Nigeria-based Elin Group Limited (“Elin”); a conditional order from ACIA Aero Capital Limited (“ACIA”) for three Dash 8-400 aircraft; a Letter of Intent (LOI) to purchase 20 Dash 8-400 aircraft signed by Palma Holding Limited (“Palma”); an LOI for up to six Dash 8-400 aircraft signed by the Republic of Ghana; and a third LOI to purchase five Dash 8-400 aircraft signed by Aurora, a Russian regional airline.

De Havilland Canada also announced that it had signed a Memorandum of Understanding (MOU) with Palma Capital Limited (“Palma”) and Export Development Canada (EDC) that outlines mutual cooperation between the three parties regarding potential Dash 8-400 aircraft transactions such as aircraft procurement and leasing opportunities and sale-leaseback opportunities for the Middle East and Africa.

The company reaffirmed its commitment to operators in the region with the addition of two Authorized Service Facilities to its network. Known for its specialization in business aviation services, charter and aircraft management, Falcon Aviation Services (“Falcon”) is expanding its MRO portfolio to include base maintenance for the Dash 8-400 aircraft and will support operators of Dash 8-400 aircraft from its facilities in Abu Dhabi, United Arab Emirates, while Mediterranean Aviation Company Limited (“Medavia”), will offer heavy check maintenance services for all Dash 8 Series aircraft from its facilities located in Malta. Medavia and Falcon’s experience supporting the oil and gas industry and operating at remote airfields provides the first-hand knowledge that will be of great benefit to operators of Dash 8 aircraft in the region.

Falcon and De Havilland Canada also announced that the companies had signed a five-year extension to the Smart Parts program that provides component management solutions and support for Falcon’s fleet of three Dash 8-400 aircraft.  The Falcon team confirmed that De Havilland Canada’s expertise and commitment to deliver the best solutions for the management of components allows the airline to focus attention on other business priorities.

Expliseat’s ultra-light TiSeat E2 for the Dash 8-400 aircraft was also demonstrated in De Havilland Canada’s Chalet during the Airshow. Depending on the configuration, the seats reduce in-flight weight by 300 to 1,000 lbs. and offer up to 1 per cent in fuel savings, while preserving passenger comfort.

Government of Ghana Signs Letter of Intent to Purchase up to Six Dash 8-400 Aircraft from De Havilland Canada

Provided by De Havilland Aircraft of Canada Limited/CNW

The Dash 8-400 aircraft continues to confirm its position as the world’s most advanced and most productive turboprop

DUBAI, Nov. 19, 2019 /CNW/ – Today, at the Dubai Airshow, De Havilland Aircraft of Canada Limited (“De Havilland Canada”) announced that the Republic of Ghana has signed a Letter of Intent to purchase up to six Dash 8-400 aircraft. The country recently announced plans to launch a home based carrier in Accra, Ghana to serve domestic, regional and international routes.

“We are very excited to be working with De Havilland Canada to develop our fleet with a modern aircraft that will support the development of our new national airline and provide a strong foundation as we work to build a broader network and become the aviation hub of West Africa,” said Joseph Kofi Adda, Minster of Aviation, Ghana. “The Dash 8-400 aircraft provides the proven reliability and performance we are seeking and will be a great asset to our airline.  

“We are committed to offering our communities state-of-the-art air transportation, and the Dash 8-400 aircraft offers the perfect mix of passenger amenities, cargo capacity, operational economics and environmental credentials to meet our requirements. We are looking forward to finalizing a purchase agreement with De Havilland Canada in the near future and securing up to six Dash 8-400 aircraft for our fleet,” added the Minister.

“It is always a source of pride when our Dash 8-400 aircraft is selected by a new operator and we welcome this opportunity to work with the people of Ghana as they establish their home based carrier,” said Todd Young, Chief Operating Officer, De Havilland Canada. “The advanced Dash 8-400 aircraft continues to prove its capabilities across Africa’s diverse landscape and we are confident that its hot-and-high performance, as well as its short take-off and landing capability will meet the demands of Ghana’s warm, dry coastal areas, its hotter, more humid regions, as well as any challenging airport operations.”   

Aurora Signs Letter of Intent to Acquire Five Dash 8-400 Aircraft from De Havilland Canada

Provided by De Havilland Aircraft of Canada/CNW

DUBAI, Nov. 19, 2019 /CNW/ – Today, during the Dubai Airshow, De Havilland Aircraft of Canada Limited (De Havilland Canada) announced that Aurora has signed a Letter of Intent (LOI) to purchase five Dash 8-400 aircraft. Aurora, a subsidiary of Aeroflot, is based in Sakhalin, Russia. The airline currently operates eight Dash 8 aircraft, including two Dash 8-400 turboprops.

“We are very excited about the expansion of our fleet to include additional Dash 8-400 aircraft,” said Konstantin Sukhorebrik, General Director, Aurora. “The aircraft’s diverse capabilities and jet-like performance will support our growing network and meet the increasing demands for charter operations. We aim to increase traffic and expand our local, regional and international footprint with the additional aircraft. In the future, we plan on ordering more Dash 8-400 aircraft as we look to streamline our fleet with a harmonized configuration.  The opportunity to increase seat capacity with the new configurations offered by De Havilland Canada allows us to tap into growth and new markets.”

“The outstanding economics and performance of the Dash 8-400 aircraft make it an exceptional addition to any fleet, and we are always pleased when an airline reorders our Dash 8-400 aircraft to expand their operations,” said Todd Young, Chief Operating Officer, De Havilland Canada. “We will assist Aurora as they review funding options for the five Dash 8-400 aircraft and work to finalize a firm purchase agreement.”

Palma Capital Limited, Export Development Canada and De Havilland Canada Sign Memorandum of Understanding Regarding Dash 8-400 Aircraft Transactions

Provided by De Havilland Aircraft of Canada/CNW

DUBAI, Nov. 18, 2019 /CNW/ – Today, during the Dubai Airshow, Palma Capital Limited (“Palma”), Export Development Canada (EDC) and De Havilland Aircraft of Canada Limited (“De Havilland Canada”) announced that they have signed a Memorandum of Understanding (MOU) that outlines mutual cooperation between the three parties regarding potential Dash 8-400 aircraft transactions such as aircraft procurement and leasing opportunities and sale-leaseback opportunities for the Middle East and Africa.

Under the MOU, the parties expect to engage directly and/or indirectly to develop funding for the purchase of new De Havilland Canada aircraft assets for onward leases to third parties.  This MOU represents the first broad-based joint approach by Palma, EDC and De Havilland Canada.

Palma Capital’s President, Moulay Omar Alaoui said: “We see this as an important milestone to work on creative opportunity development in the regional aircraft sector.  This MOU will enhance our joint efforts as we work to engage interested airlines and finalize placement of new Dash 8-400 aircraft.”

“This MOU represents a starting position for De Havilland Canada to build on previous successes in placing aircraft at airlines with support from Export Development Canada,” said Todd Young, Chief Operating Officer, De Havilland Canada.  “We expect to move forward on various opportunities with this formalized understanding from Canada’s export credit agency in conjunction with Palma Holding as an experienced lessor of Dash 8-400 aircraft in the Middle East, Europe and Africa.”

“This collaboration with Palma and De Havilland Canada reflects our commitment to helping Canadian companies seize opportunities for international growth. We’re proud to support De Havilland Canada, a company that showcases Canadian aerospace technology and talent to the world,” said Jean-Bernard Ruggieri, EDC’s Chief Representative, Middle East and Africa.

Elin Group Places Firm Order with De Havilland Canada for Three Dash 8-400 Aircraft

Provided by De Havilland Aircraft of Canada Limited/CNW

The Dash 8-400 aircraft continues to confirm its position as the world’s most advanced and most productive turboprop

DUBAI, Nov. 16, 2019 /CNW/ – De Havilland Aircraft of Canada Limited (“De Havilland Canada”) announced today that Elin Group Limited has signed a firm purchase agreement for three Dash 8-400 aircraft. Headquartered in Nigeria, Elin Group has diverse business interests in real estate development, power generation, agricultural development, gas utilization, mining, maritime operations and the aviation sector. 

“The Dash 8-400 aircraft’s speed, comfort and versatility superbly meet our requirements as we look at opportunities to support Nigeria’s resource sector, particularly for oil and gas operations.  The Dash 8-400 turboprop has been operating in Nigeria with other carriers and we have seen how this aircraft can support our diverse operational requirements,” said Caroline Pritheesh, Managing Director, Elin Group. “We are very pleased to have reached this agreement with De Havilland Canada as we look forward to expanding our business with the impressive capabilities of the Dash 8-400 aircraft.”   

“As a dynamic entrepreneur and a leader with a vision, I am profoundly pleased that De Havilland Canada and Elin Group Nigeria have come together to form a formidable business relationship that will enable Elin Group to deliver cutting-edge service to customers in the aviation sector,” said Elizabeth Jack-Rich, Chief Executive Officer, Elin Group. “It has always been my vision to collaborate with a company of high technical and innovative repute to see the actualization of my vision to broaden services in different economic facets. I am particularly proud today, about this alliance with De Havilland Canada; the acquisition of the Dash 8-400 aircraft for operations in Nigeria is a step in the right direction and it couldn’t have come at a better time than now.                                                                          

“I would like to assure you that we are in this for the long haul and look forward to expanding other business horizons for our collective organizational wellbeing,” added Dr. Jack-Rich.

“We are delighted to welcome Elin Group to our family of customers and to announce this order – the second booked since the relaunch of De Havilland Canada in June this year,” said Todd Young, Chief Operating Officer, De Havilland Canada. “Propelled by the excitement generated by the transition of the Dash 8 aircraft program to De Havilland Canada, our Sales and Marketing teams are focusing their attention on building a pipeline of orders to further increase our backlog and reconfirm the Dash 8-400 aircraft’s position as the world’s most advanced and most productive turboprop.  Africa continues to be a showcase market for the Dash 8-400 where the aircraft’s speed, hot and high performance and higher payload capabilities bring significant advantages to new markets within the continent.”  

De Havilland Canada’s first firm order following the company’s relaunch in June 2019, was signed by the United Republic of Tanzania, represented by the Tanzanian Government Flight Agency (TGFA).

De Havilland Canada Enhances Support to Operators of Dash 8-400 Aircraft with the Addition of Falcon Aviation Services to its Network of Authorized Service Facilities

Provided by De Havilland Aircraft of Canada/CNW

DUBAI, Nov. 16, 2019 /CNW/ – To coincide with the Dubai Airshow starting tomorrow, De Havilland Aircraft of Canada Limited (“De Havilland Canada”) announced today that it has entered an agreement with Falcon Aviation Services (“Falcon”) that will enhance support to operators of Dash 8-400 aircraft in the Middle East and Africa. Under the agreement, Falcon is appointed as a De Havilland Canada Authorized Service Facility (ASF) and will offer heavy check maintenance services from its facilities in Abu Dhabi, United Arab Emirates.

Known for its specialization in business aviation services, charter and aircraft management, Falcon is expanding its MRO portfolio to include base maintenance support for the Dash 8-400 aircraft. The company operates three Dash 8-400 aircraft and provides MRO support to five Dash 8-400 aircraft that are in service with Qazaq Air in Kazakhstan.

“The Dash 8-400 aircraft continues to be a valuable asset in our portfolio, and we are delighted to be appointed as an Authorized Service Facility for the aircraft which has proved its operational capability in the arid regions of North Africa, as well as in the humid, sub-Saharan regions,” said Capt. Ramandeep Oberoi, Chief Executive Officer, Falcon Aviation Services.

“Falcon has been actively involved in supporting the growth and development of the fleet of Dash 8-400 aircraft in the Middle East and Africa for several years, and now with this appointment as a De Havilland Canada Authorized Service Facility, Falcon is in an even better position to support the region’s aviation sector,” said Todd Young, Chief Operating Officer, De Havilland Canada. “We look forward to this ongoing collaboration with Falcon as we work together to contribute to the region’s growing air transportation network.”

De Havilland Canada’s customer support network for Dash 8 Series aircraft in the Middle East and Africa includes another Authorized Service Facility located in Addis Ababa, Ethiopia and a Regional Support Office (RSO).

About Dash 8-400 Aircraft
The Dash 8-400 aircraft is the latest in the Dash 8 Series family. Designed as an advanced, 21st-century turboprop, it provides unmatched performance and operational flexibility. The Dash 8-400 aircraft is nimble enough for a steep approach, yet tough enough to land on unpaved run­ways. It’s the only turboprop in its class certified for high altitude airports.

Offering the versatility of turboprop economics with jet-like performance, the Dash 8-400 can be adapted to many business models, delivering 30 per cent less fuel burn than competing jets, while cruising 160 km/h faster than conventional turboprops. Its large propellers operate at a lower RPM, generating more power with less noise and making it a friendly option for city centres. With industry-leading passenger experience, operating costs and environmental footprint, the Dash 8-400 aircraft is the pinnacle of the modern turboprop.

As the most successful Dash 8 Series aircraft, the Dash 8-400 has logged almost seven million flight hours with over 60 owners and operators in almost 40 countries. With a dispatch reliability rate of over 99.5 per cent, the aircraft has transported more than 400 million passengers worldwide.

About Falcon Aviation Services
Falcon Aviation Services is a leading business aviation services company based in Al Bateen Executive Airport, and Dubai (Al Maktoum International Airport) in the United Arab of Emirates. It was formed under the initiative of His Highness Dr. Sheikh Sultan Bin Khalifa Bin Zayed Al Nahyan, Advisor to the President of the United Arab Emirates.

Falcon Aviation has been established for over twelve years, during which time the company has built an unrivalled reputation for its VIP Charter and support to the Government’s Oil and Gas Sector. With a new and diversified fleet of luxurious corporate jets and helicopters, Falcon Aviation offers a multitude of Business and General Aviation Services including, Business Jet/VIP Helicopter Charter, Fixed Based Operations (FBO) Services, Aircraft Management and comprehensive MRO Support including Scheduled and Unscheduled Maintenance and Continuing Airworthiness Management Organization (CAMO). 
www.falconaviation.ae

About De Havilland Aircraft of Canada Limited
With its acquisition of the Dash 8 aircraft program, Longview Aviation Capital has proudly relaunched De Havilland Canada, one of Canada’s most iconic brands. De Havilland Canada’s portfolio includes sales and production of the Dash 8-400 aircraft, one of the world’s most important commercial aircraft, as well as support for the worldwide fleet of Dash 8-100/200/300/400 aircraft. The company is committed to maintain the brand’s 90-year-old reputation for expertise, excellence and reliability in its manufacturing and commercial operations, and through its global network providing customer services and support. Increasingly, the company is focused on the cost competitiveness of aircraft across their lifespan.  https://dehavilland.com

De Havilland, Dash 8, Dash 8-100/200/300 and Dash 8-400 are trademarks of De Havilland Aircraft of Canada Limited.