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WEEKLY AVIATION HEADLINES

Continued on page 3

A recent study found that the de-creasing costs of standalone in-flight Wi-Fi hardware, which will soon be offered as line-fit equip-ment by major aircraft manufac-turers, will for the first time make connected In-Flight Entertainment (IFE) attractive to more airlines, especially low cost carriers that have been re-luctant to take up the technology.

Wi-Fi on airplanes is trending to be a standard amenity; however it is the quality of that Wi-Fi that will distinguish one airline from anoth-er. Until now, internet connectivity on planes has been frustratingly slow and expensive for travellers.

IFE technology companies such as ViaSat and GoGo are now offer-ing ultra-fast solutions to airlines. ViaSat currently power high speed in-flight Wi-Fi – with streaming ca-

pabilities – with partners in the US: JetBlue, United and Virgin America. ViaSat says these three airlines of-fer the highest speed, highest ca-pacity in-flight Wi-Fi experience with the freedom to watch, stream video and shop directly on any con-nected device when in-flight – as you would at home.

“We are providing access to the real internet – not cached content sitting in a server on the plane that passengers can connect to via Wi-Fi,” says Don Buchman, VP and

general manager of commercial mobil-ity at ViaSat in the United States.

Delta Air Lines is in-creasing its commit-ment to 2Ku, Gogo’s in-flight Wi-Fi tech-nology, by at least 350 aircraft. This

brings Delta’s total 2Ku commit-ment to more than 600 aircraft in its mainline fleet.

2Ku is next-generation technology that provides consistent, uninter-rupted coverage nearly anywhere

“We are providing access to the real internet – not cached content sitting in a server on the plane.”Don Buchman, VP and general manager of commercial mobility at ViaSat

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SITA kiosks for Bahrain AirportIn a drive to improve the passenger experience and deliver increased flexibility to its airlines, Bahrain Air-port Company (BAC) will this year introduce SITA’s self-service check-in kiosks across Bahrain International Airport. The new check-in kiosks part of airport’s drive to implement IATA’s Fast Travel Initiative. Along with the new kiosks, SITA will pro-vide its AirportHub shared connec-tivity platform, enabling airlines to migrate their back offices from leg-acy or direct connections systems to a cloud-based communication link.

Proflight Zambia is on trackZambian regional carrier Proflight has installed a high-tech flight track-ing system to enable it to monitor plane movements in real-time. The advanced Spidertracks satellite sys-tem will help the airline to further improve the efficiency and reliability of its scheduled services as well as providing an added dimension of safety. Spiders are a small and sim-ple, low-cost tracking solution for fleet operators.

Emirates opens up new gate-ways in ChinaEmirates has underscored its com-mitment to China with the launch of a new service from Dubai to Yinchuan and Zhengzhou, two of the fastest growing cities in Mid-west China. This service expands Emirates’ destination offering on the mainland to five, including Bei-jing, Shanghai, and Guangzhou. HH Sheikh Ahmed said: “Emirates is very pleased to start services to Yinchuan and Zhengzhou. This new route will provide citizens in and near both cit-ies with convenient and fast connec-tions to destinations in the Middle East, Africa and Europe via Dubai.”

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FAA approves A350 XWB for ‘beyond 180 minutes’ ETOPS

The US Federal Aviation Administration (FAA) has approved the Airbus A350-900 for ETOPS (Extend-ed-range Twin engine aircraft Operations) ‘beyond 180 minutes’ diversion time. This approval means that when the first FAA-affiliated operators start to take delivery of their A350s in 2017 they will be able to serve new direct non-limiting routings, compared with a standard 180 minute ETOPS di-version time. Now the A350 XWB is approved by both EASA and the FAA for beyond 180 minutes ETOPS. This FAA approval, which includes ‘ETOPS 180min’ in the basic specification, also includes provisions for up to ‘ETOPS 300min’ – correspond-ing to a maximum diversion distance of 2,000 nau-tical miles (nm) at one-engine-inoperative speed under standard atmospheric conditions. Later this year, once the type accumulates additional

AIRCRAFT & ENGINE NEWSin-service experience, it will be granted a further provision for ‘ETOPS 370min’ from the FAA, which will extend the maximum diversion distance up to 2,500nm. The ETOPS 300min option will, in par-ticular, facilitate more efficient transoceanic routes across the North and Mid-Pacific – such as from South-East Asia to US, and Australasia to the US. Meanwhile, operators flying on existing routes (currently flown with up to 180 minutes’ diversion time) will be able to traverse straighter, more fuel-efficient flight paths with lower CO2 emissions, while also allowing access to more en-route diver-sion airports if needed.

CFM56-5B engines to power Delta’s 37 A321ceo aircraft order

Delta Air Lines has selected CFM International’s CFM56-5B engine to power 37 additional A321ceo (current engine option) aircraft ordered earlier to-day and scheduled to begin delivery in 2017. The order also includes a five-year Material Support

Agreement (MSA) for the CFM56-5B/-7B engines in the Delta fleet. These A321ceos will join the oth-er 126 CFM-powered A319 and A320 aircraft Delta current operates. The airline recently took delivery of its first Airbus A321 and is using the aircraft to gradually replace less-efficient domestic aircraft that are being retired from its fleet.

GECAS delivers leased Boeing 737-800 to new customer NewGen Airways

GE Capital Aviation Services (GECAS) has an-nounced the delivery of a leased Boeing 737-800 aircraft to its new Thai airline customer, NewGen Airways, to expand the carrier’s fleet. A second leased 737-800 aircraft is also scheduled for de-livery later this month. Both aircraft feature split scimitar winglets which reduce fuel burn by up to 2.3% on longer-haul routes compared to blended winglets. NewGen Airways, based in Bangkok, cur-rently operates scheduled and charter services to destinations in China with a fleet of six aircraft.

in the world, including over oceans. “Delta customers have expressed an interest in their time in the air being as productive as their time on the ground, and 2Ku satellite offers a vastly upgraded in-flight Wi-Fi experience,” said Tim Mapes, Delta’s Senior Vice President and Chief Marketing Officer. “By committing to more aircraft with 2Ku technology, we’re providing Delta customers with faster and more reliable in-flight connectivity as a part of Delta’s commitment to always delivering the industry’s best on-board services.”

At European low cost carriers however, adop-tion of onboard Wi-Fi has been slow. One rea-son is that domestic flights in the U.S. tend to be longer, and so there is more justification for investing in in-flight Wi-Fi on longer journeys. In Europe journeys are rarely longer than a few hours, whereas in the U.S. coast-to-coast flights run anywhere from four to six hours; which is considerably longer.

Also, there is that no system that currently exists which allows for trans-border Wi-Fi. It’s much more straightforward for airlines of-fering flights with Wi-Fi in the United States,

given they don’t cross international airspace or borders and don’t need to switch Wi-Fi pro-vider.

Airlines like Ryanair say they are waiting on the right technology to facilitate a low cost en-try point so that it is affordable for passengers.

...continued from page 1

Wi-Fi hardware may soon be offered as line-fit equipment Photo: Guestlogix

FebruMarMararchchy 15, 2016 / V 21, 2016 / V 14, 2016 / Vol. 527ol. 532ol. 531

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WEEKLY AVIATION HEADLINES

Delta orders additional Airbus A321 jets

Delta Air Lines has reached an agreement with Airbus to acquire 37 additional A321s as part of its efforts to renew its narrow-body fleet. The fuel-efficient A321s will replace older-generation jets, including the MD-88. The agreement follows an announcement Thursday that Delta would become the U.S. launch customer for Bombardier’s C-Series small narrow-body aircraft. The additional Airbus A321s, which are being acquired near the end of the model’s production cycle, increase Delta’s A321 fleet to 82 and is consistent with the company’s previously announced domestic fleet plan. Delta is focused on reshaping its narrow-body fleet with customer-focused aircraft that offer lower operat-ing costs and better fuel efficiency. The 37 aircraft will be delivered concurrently with existing A321 orders through 2019. These transactions are part of Delta’s broader fleet strategy, allowing the company to achieve its long-term financial targets, including 15% EPS growth and generation of US$4-5bn in free cash flow annually, while replacing 20% of its main-line narrow-body fleet over the next five years.

TAAG Angola Airlines takes delivery of 777-300ER

Boeing and TAAG Angola Airlines, the national air-line of Angola, celebrated the delivery of the air-line’s newest 777-300ER (Extended Range.) The latest addition to TAAG’s fleet touched down in Lu-anda on May 3rd, following a non-stop 8,709 nau-tical mile (14,015 kilometers) delivery flight from Boeing’s Delivery Center in Everett, Wash. The lat-est 777-300ER enables TAAG to augment its flag-ship service between Angola and Portugal, which increases to double daily effective June 2nd, 2016.

CFM LEAP-1B achieves joint EASA / FAA cer-tification

CFM International’s advanced LEAP-1B engine was simultaneously awarded Type Certificates by both the European Aviation Safety Agency (EASA) and the U.S. Federal Aviation Administration (FAA), paving the way for entry into commercial service in 2017. CFM is the only engine manufacturer to gain dual original certification from both agencies, rather one lead agency issuing a type certification and the second agency validating that certification. This reflects CFM’s 50/50 design and production structure between parent companies GE and Sa-fran, which has been so successful for more than 40 years. The LEAP-1B engine flew for the first time on the Boeing 737 MAX on January 29, 2016. Since then, two more aircraft have been added to the test program in March and, to date, these three air-planes have logged a combined total of more than 100 test flights, including completing high-altitude flight testing in La Paz, Bolivia, recently.

AIRCRAFT & ENGINE NEWS

ATR 72-600 takes off to North America

An ATR 72-600 turboprop aircraft will embark on a demo-tour of the United States and Canada from May 2nd to May 13th. The newest ATR-600 series aircraft will make stops in Toronto, Chicago, White Plains, Hyannis, Washington D.C., Charlotte, Dallas, Seattle and Cincinnati. The aircraft will also be fea-tured on static display at the Regional Airline Association (RAA) convention in Charlotte from May 8th to 10th. For the flight campaign, the aircraft will be showcased to highlight the many advantages it can bring to regional aviation in the US and Canada. These include cost savings, eco-efficiency, modern passenger experience, leading-edge navigation technologies, and operational versatility. The modern ATR aircraft offers unbeatable eco-efficiency, aiming to meet the strictest environmental challenges.

The newest ATR -600 series aircraft on demo-tour in the US and Canada Photo: ATR

Boeing 737 MAX makes first international journey for flight testing

The Boeing 737 MAX 8 has marked a key achievement after completing high-altitude flight test-ing in La Paz, Bolivia. It’s the first international trip for the 737 MAX flight-test fleet. The airport’s 13,300-foot (4,050-meter) altitude tested the MAX’s capability to take off and land at high altitudes, which can affect overall airplane performance. “The engines and other systems performed well, as expected, under extreme conditions. That’s exactly what we wanted to see,” said Keith Leverkuhn, vice president and general manager of the 737 MAX program, Boeing Commercial Airplanes. Flight testing for the 737 MAX is on schedule with three test airplanes having completed more than 100 flights combined. The fourth and final test airplane will make its first flight in the coming weeks. The program remains on track for first delivery in the third quarter of 2017.

The Boeing 737 MAX 8 completes high altitude flight testing in La Paz, Bolivia Photo: Boeing

AerFin acquires Airbus A340-300

AerFin (UK) continues its acquisition program with the purchase of Airbus A340-300 aircraft MSN 374. The aircraft will remain in continued operation following reconfiguration. Bob James, CEO, AerFin commented: “We continue to experi-ence market demand for quality A340-300 aircraft for continued operation under AerFin CFM56-5C4 engine and component support programs.” Fur-thermore the company announced that it pur-

chased an Embraer E170 aircraft, MSN 17000093, from SMBC Aviation Capital.

SkyWorks reports first quarter 2016 asset management transactions

SkyWorks announced asset management trans-actions and activities performed during the first quarter 2016. Provided through SkyWorks Leas-ing, the transactions involved 20 aircraft and two

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WEEKLY AVIATION HEADLINES

engines and included the following: on behalf of Scandinavian Airlines System (“SAS”), SkyWorks arranged the sale of two JT8D-217C engines to Delta Air Lines. These deliveries marked the last sales in a transaction commenced in 2012 and where 23 MD80s and 10 spare engines have been sold and delivered by SAS to Delta. In another transaction arranged by SkyWorks, Delta acquired four MD90-30 aircraft previously on lease from SAS. On behalf of a US-based investor, SkyWorks arranged the sale of a B757 aircraft to an undis-closed operator. For another US –based investor and longstanding portfolio client, SkyWorks ar-ranged the sale of 15 ERJ135s previously operated by ExpressJet Airlines. In addition, SkyWorks mar-keted a portfolio of nine aircraft (B757, B737NGs and A319s on lease to United Airlines and Ameri-can Airlines) and executed a Letter of Intent with a single buyer for all aircraft. The sale is expected to close in the second quarter of 2016.

AIRCRAFT & ENGINE NEWS Avolon delivers first Airbus A320neo aircraft

Avolon, the international aircraft leasing company, announced the delivery of its first Airbus A320neo aircraft. The aircraft is the first of a number of A320neo sale and leasebacks contract-ed with IndiGo and brings the number of aircraft leased by Avolon to IndiGo to 21. Avolon’s future commitment to new technology aircraft includes a further 99 Airbus A320neo family aircraft, 20 Boeing 737 MAX aircraft, 12 Boeing 787-9 aircraft and 15 Airbus A330neo aircraft for which Avolon is a launch customer. At the end of March 2016, Avolon had a total fleet of 402 aircraft, including 223 owned and managed aircraft, and 179 aircraft on order.

Avolon delivers its first Airbus A320neo to IndiGo Photo: Avolon

PPG opens state-of-the-art liquid coatings appli-cation development center at Oak Creek plantPPG opened a US$3m state-of-the-art liquid coat-ings application development center at its Oak Creek, Wisconsin, plant. The new center includes advanced equipment that helps simulate indus-trial coatings customers’ manufacturing environ-ments to ensure PPG coatings will be properly and consistently applied during their production processes. The new coatings application develop-ment center houses multiple curing ovens, robotic paint applicators, and spray booths with tempera-ture and humidity controls to mimic a wide range of liquid coatings application conditions. These ca-pabilities will further enhance the product launch process and application validation capabilities of PPG’s industrial coatings business. PPG offers a comprehensive array of powder, electrocoat, pre-treatment and liquid products for metal finishing to manufacturers in numerous industries.

Hawkeye Engine Services signs strategic marketing alliance with Jetpower

Hawkeye Engine Services and Jetpower have an-nounced a strategic marketing alliance. Combin-ing Hawkeye’s overall capacity in the power plant

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Comlux America celebrates wide-body hangar expansion

Comlux America, the Completion and Service center of the Comlux Group based in Indianapo-lis IN, celebrated the expansion of its VIP completion hangar which now has the capability of housing wide-body and narrow-body aircraft simultaneously. The celebration of the facility expansion took place on the 27th of April, 2016, one year from the ground breaking ceremony. Comlux America’s first wide-body completion, an ACJ330 aircraft, was inside the hangar for the event, creating an impressive backdrop for guests. This aircraft will be the 12th VIP completion for Comlux America overall. During the event the hangar also housed 2 BBJs (one in comple-tion and one in maintenance) and one SBJ in completion. The new expansion increased the total size of the hangar from 128,000 ft² to 157,000 ft², which means it can now house one wide-body and up to four narrow-body aircraft simultaneously.

2016-05 Comlux America celebrates wide-body hangar expansion Photo: Comlux

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WEEKLY AVIATION HEADLINES

Spirit AeroSystems posts lower net income for first quarter

Spirit AeroSystems reported first quarter 2016 financial results driven by strong operating performance of mature programs. Spirit’s first quarter 2016 revenues were US$1.7bn, down 3% compared to the same period of 2015. Op-erating income for the first quarter of 2016 was $267 million, compared to US$235m in the first quarter of 2015. Net income for the quarter was US$172m compared to net income of US$182m in the same period of 2015. Spirit’s backlog at the end of the first quarter of 2016 was approxi-mately US$46bn. Free cash flow from operations was a US$43m source of cash for the first quarter of 2016, compared to a US$383m source of cash in the first quarter of 2015, with the decrease primarily due to tax refunds in 2015 associated with the Gulfstream divestiture.

Embraer releases first quarter 2016 results

In the first quarter of 2016, Embraer delivered 21 commercial and 23 executive (12 light and 11 large) jets, representing an increase of 38% in total deliveries compared to the first quar-ter 2015. The company’s firm order backlog ended the quarter at US$21.9bn, compared to US$20.4bn at the end of the first quarter 2015 and US$22.5bn in backlog at the end of 2015. As a result of higher aircraft deliveries in both the Commercial Aviation and Executive Jets seg-ments, the first quarter 2016 revenues were US$1,309.0m, an increase of 24% compared to the first quarter 2015. EBIT and EBITDA mar-gins were 6.5% and 12.8%, respectively, in the first quarter 2016 compared to 7.5% and 14.1% the first quarter 2015), and EBIT and EBITDA for the quarter were US$85.7m and US$167.6m, respectively (versus US$79.6m and US$149.1m in first quarter 2015). First quarter 2016 net

income attributable to Embraer Shareholders and Earnings per basic ADS totaled US$103.9m and US$0.5690, respectively. Adjusted net loss, which excludes non-cash deferred income taxes and social contribution largely related to the im-pact of foreign exchange variation on non-mon-etary assets, was a loss of US$(1.7)m in the first quarter 2016. Embraer ended the first quarter with a total cash position of US$3,443.3m and total debt of US$3,663.2m, yielding a net debt position of US$219.9m in the quarter.

Air Canada reports first quarter 2016 re-sults

Air Canada reported first quarter 2016 record EBITDA of CA$460m compared to EBITDAR of CA$442m in the same quarter in 2015. For the 12 months ended March 31, 2016, Air Canada’s EBITDAR margin was 18.3%. Air Canada record-ed adjusted net income of CA$85m, compared to adjusted net income of CA$122m in the first quarter of 2015. On a GAAP basis, in the first quarter of 2016, Air Canada reported operating income of CA$154m compared to operating in-come of CA$200m in the first quarter of 2015. The airline reported net income of CA$101m in the first quarter compared to a net loss of CA$309m in the first quarter of 2015. CA$1.00 = US$0.80 at time of publication.)

IAG reports strong performance for first quarter 2016

International Consolidated Airlines Group (IAG) presented Group consolidated results for the three months to March 31, 2016. IAG reported first quarter operating profit of €155m before exceptional items (2015: operating profit of €25m), excluding Aer Lingus €181m. Passenger unit revenue for the quarter was down 3.5% and at constant currency down 4.7% (excluding Aer Lingus and at constant currency down 5.2%).

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and whole aircraft market with Jetpower’s strong foothold in the aircraft and parts business will ul-timately extend the overall reach into all sectors of commercial aviation. Hawkeye was founded in 1999 and is focused on commercial aircraft engine teardowns and whole aircraft and engine acquisi-tions. Jetpower was founded in 2004 and is solely focused on commercial airframe material. Jet-power is headquartered in Gurnee, IL just 45 mins north of Chicago O’Hare airport. “Our engine tear-down business has been growing substantially over the last few years and it was always my vision to complete the circle by expanding into the airframe sector. Jetpower gives HES an instant footprint into the airframe side and we give them the same on power plant and whole asset acquisition. We are all very excited. This alliance just makes sense.” – Aaron Neff – CEO of Hawkeye Engine Services.

Certification for Super Puma display instal-lations expected mid-2016Certification for the integration of Universal Avion-ics EFI-890H Advanced Flight Displays in the Air-bus Helicopters Super Puma AS332L1 is on track for mid-2016. Preparations for certification are currently underway. The Super Puma installation package includes dual EFI-890H Primary Flight Dis-plays (PFD) (one pilot-side and one co-pilot side), dual UNS-1Fw Multi-Missions Management Sys-tem (MMMS) with 5-inch Flat Panel Control Dis-play Units (FPCDU), and a single Radio Control Unit (RCU). Optional Night Vision Goggle (NVG)-com-patible displays, controllers, MMMS FPCDUs and RCU versions are available. Universal Avionics well-proven, reliable EFI-890H solution is customized for Super Pumas and supports all CDV-155 modes including SAR. Steering cues for both 3 axis and 4 axis operations including Roll, Pitch and Collective are provided. The new PFD system replaces exist-ing electromechanical altimeters, airspeed indica-tors, vertical speed indicators, ADI/FD indicators, radio altitude indicators and HSI indicators.

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Non-fuel unit costs for the quarter was up 1.3% and at constant currency up 0.6% (excluding Aer Lingus and at constant currency down 0.5%). Fuel unit costs before exceptional items for the quarter were down 23.4%, down 30.4% at con-stant currency. Cash of €6,824m at March 31, 2016 was up €968m on 2015 year end. (€1.00 = US$1.12 at time of publication.)

Lufthansa Group with earnings improve-ment in the first quarter

Total revenues for the Lufthansa Group in the first quarter of 2016 declined by 0.8% to €6.9bn. Despite significantly higher passenger volumes, traffic revenue was 3.9% down, a reflection of the substantial pricing pressures faced by the Group’s passenger airlines and the cargo busi-ness. The leading financial performance indica-tor of the Group’s business success – its Adjusted EBIT – improved, however, by €114m to €-53m. The Group’s net income for the first quarter amounted to €-8m (Q1 2015: €425m). This is a €70m improvement on the adjusted prior-year result since the 2015 first-quarter result included a €503m financial profit from the early conversion of the JetBlue convertible bond. First quarter cash flow from operating activities declined 21.5% to €1.1bn. This is primarily attributable to the trend towards more short-term bookings: flights are booked closer to the departure date, which leads to a later cash-in for the company. This effect should, however, even out in the coming months provided overall bookings remain at their cur-rent levels. The equity ratio declined 3.7% points to 14.5%, almost entirely due to an increase of €1.5bn in pension provisions based on a reduc-tion in actuarial interest rates. (€1.00 = US$1.15 at time of publication.)

FINANCIAL NEWSFraport starts off the year with mixed fi-nancial results

In the first quarter of 2016, some 13 million pas-sengers passed through Frankfurt Airport (FRA), representing an increase of 3.3 percent year-on-year. On the back of that growth, Fraport achieved higher revenue from airport and infrastructure charges as well as from aircraft handling. Simul-taneously, net retail revenue per passenger de-clined from €3.93 to €3.62 on the previous year. One reason was the non-recurrence of particular-ly high income gained in the first quarter of 2015, when the cap on the Swiss franc’s euro exchange rate was removed. Other reasons included a changed passenger structure and a decline in the average retail spending of Chinese and Russian passengers, reflecting the loss of purchasing pow-er of their respective currencies. Outside Frank-furt, the Group’s subsidiaries – particularly in Lima and Ljubljana as well as Twin Star and AMU Holdings Inc. – contributed positively to Fraport’s overall revenue performance. While the airports in Ljubljana (Slovenia), Varna and Burgas (Bulgar-ia), Xi’an (China), Hanover (Germany), and Lima (Peru) partially recorded strong traffic growth, passenger figures at the airports in Antalya (Tur-key) and St. Petersburg (Russia) declined in line with expectations. Adjusted Group revenue rose by €14.7m (up 2.6%) to €572.5m in the first quar-ter of 2016. The Group’s operating result or EBIT-DA (earnings before interest, tax, depreciation and amortization) declined by 4.9% to €145.6m in the first quarter, due to higher expenditure re-sulting from, among other things, collective wage agreements and non-capitalizable investments made at FRA. In contrast, the Group’s financial result improved from €-56.4m to €-42.5m, due to lower interest expenses and lower losses related to currency exchange rates. This led to an overall positive performance of the Group result, soaring by €4.5m (or 42.5%) to €15.1m year-on-year. Cor-respondingly, earnings per share rose by €0.05 to €0.16 – an increase of 45.5%. (€1.00 = US$1.15

at time of publication.) WestJet posts lower earnings for first quarter 2016

WestJet reported its 44th consecutive profit-able quarter with first quarter 2016 net earnings of CAD$87.6m, compared with quarterly net earnings of CAD$140.7m reported in the first quarter of 2015, down 37.7%. Revenues were CAD$1,031.4 in the first quarter, compared to CAD$1,083.5 in the first quarter 2015, down 4.8%. WestJet achieved an on-time performance rate of 83.0% in the first quarter, a significant year-over-year improvement of 5.0 percentage points. Based on the trailing twelve months, the airline achieved a return on invested capital of 12.8%, compared with the 15.3% reported in the previous quarter. (CA$1.00 = US$0.79 at time of publication.)

Aircastle posts first quarter 2016 total rev-enues of US$183.7m

Aircastle reported first quarter 2016 results with total revenues of US$183.7m, a decrease of US$10.6m, or 5% from the previous year, driven by a US$16.8m decrease in maintenance reve-nues. During the first quarter of 2015, Aircastel recorded US$18.1m of maintenance revenue, primarily from two scheduled lease expira-tions with significant return compensation pay-ments. Adjusted EBITDA for the first quarter was US$183.9m, down US$6.3m, or 3% from the first quarter of 2015, due primarily to lower mainte-nance revenues of US$16.8m, partially offset by higher gains from aircraft sales of US$6.6m and higher lease rental and finance lease revenues of US$4.3m. Adjusted net income for the quarter was US$44.1m, down US$6.4m year over year. The decrease was due primarily to lower total revenues of US$10.6m, partially offset by higher gains from aircraft sales of US$6.6m.

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first A380 for the city of Vancouver and the only scheduled A380 service in western Canada. To coincide with the A380 launch, British Airways has partnered with the British Consulate Gen-eral – Vancouver and UK Trade and Investment to bring a mission of nine emerging companies from British Columbia to London, supporting their growth with key introductions in the in-dustry and contacts to help support potential in-vestment. British Airways will operate the A380 daily from Vancouver to London for the summer season.

Jet Aviation St. Louis has signed its first agree-ment to install Honeywell’s JetWave satellite communications terminals in a Global Express to upgrade the in-flight Internet experience. Hon-eywell said the JetWave multi-channel termi-nals operate on Inmarsat Aviation’s GX Ka-band network, enabled by three satellites that cover the entire globe to provide true broadband con-nectivity. The terminals in the MCS-8000 model for business aircraft share the same antenna controller, modem and router hardware with a tail-mounted antenna.

In line with the letter of intent signed in Sep-tember 2015, SAS and Aviator Airport Alliance Europe AB (Aviator) have agreed to continue negotiations in respect of the transfer of SAS Ground Handling’s line stations in Gothenburg and Malmö to Aviator. However, SAS has decid-ed not to outsource ground handling at the main airports of Copenhagen, Oslo, and Stockholm. In September 2015, SAS signed a letter of intent with Aviator concerning the transfer of ground handling at the main airports in Scandinavia and in Gothenburg and Malmö. Following an analy-sis and evaluation of the offer, SAS and Aviator have agreed only to finalize negotiations on the transfer of ground handling operations at the airports in Gothenburg and Malmö, which is in line with what SAS has done at other line sta-tions in Scandinavia and worldwide. SAS has de-cided to continue to operate ground handling at the main airports itself. In recent years, SAS has implemented a large-scale streamlining program within SAS Ground Handling and has outsourced a large proportion of the business, which has reduced costs by around SEK300m (US$37.2m) over the past two years.

• Hawaiian Airlines has an-nounced that its system-widetraffic for April increased 10.7%compared to the same month in2015, while capacity increased3.3%. The load factor improved

5.6 points to 83.1% compared to the previous year.

• GOL reported system traffic for April 2016 decreased 11.2% com-pared to April 2015, while system

capacity decreased 10.7%. Total system load factor for April was down 0.4 points to 73.2% com-pared to the previous year.

• Ryanair released that April

traffic grew 10% compared to the same period in 2015 and the load factor for April rose 2 points to 93%.

PASSENGER STATISTICS - APRIL

EDM, a global provider of training simulators to the civil aviation and defense sectors, has been selected by China Southern Airlines to provide two new cabin crew training simulators. The or-der comprises an A330 Cabin Emergency Evacu-ation Trainer (CEET) and A320 Door Trainer (DT). Mounted on a hydraulic motion platform, the CEET will provide a highly realistic training envi-ronment for China Southern’s cabin crew, cover-ing key safety procedures such as door opera-tion, evacuation, fire and smoke training, cabin communications and aircraft systems familiariza-tion. The CEET will also be fitted with SEPTRE, EDM’s market-leading audio-visual system that takes cabin crew training to even higher stand-ards through the provision of pre-programmed emergency scenarios including aborted take-off, engine fire, gear collapse, ditching and decom-pression. The A320 DT and A330 CEET will ena-ble China Southern’s cabin crew to be effectively trained in the safe and proficient use of the door and aircraft cabin systems under normal, ab-normal and emergency operation. Key features of the DT include a double attendant seat, door window visual system, functional Flight Atten-dant Panel (FAP) and touch screen Instructor Op-erator Station (IOS). Once completed at EDM’s headquarters in the UK, the equipment will be shipped and installed at China Southern’s cabin crew training centre in Guangzhou, China.

British Airways began flying its new Airbus A380 aircraft between London Heathrow and Vancouver International Airport. This marks the

EDM and China Southern Airlines sign agreement on two new cabin crew training simulators Photo: EDM

OTHER NEWSThe International Air Transport Association (IATA) released demand growth data for global air freight markets for March, 2016 showing a 2.0% drop in volumes measured in freight tonne kilometers (FTKs) compared to the same period last year. In contrast, freight capacity (measured in available freight tonne kilometers or AFTKs) rose by 6.9%, putting increased pressure on al-ready struggling yields. The weak results reflect subdued growth in world trade, exaggerated by the comparison to a particularly strong start to 2015 when air freight volumes were boosted by the effects of the US West Coast seaports strike. The most significant fall in demand was reported by carriers in Asia-Pacific and North America. Combined they account for around 60% of glob-al freight traffic and reported declines of 5.2%, and 1.8%, respectively.

Gogo (GOGO), a global leader in providing broadband connectivity solutions and wire-less entertainment to the aviation industry, will partner with International Airlines Group (IAG) to bring Gogo’s 2Ku technology to 118 British Airways, four Aer Lingus Boeing 757 and up to 15 Iberia long-haul aircraft. IAG is the first Eu-ropean airline group to commit to Gogo’s 2Ku technology. The fleet of Gogo-installed aircraft will include numerous long-haul aircraft types, including the Boeing 787 and Airbus A380. The first British Airways aircraft is expected to be in service early next year. The bulk of the installa-tions are expected to be completed by 2019.

Spirit Airlines flight attendants have voted to approve a new five-year collective bargaining agreement with the airline. The agreement con-tains wage and retirement benefit increases as well as improvements to other benefits. Spirit and the Association of Flight Attendants – CWA (AFA), which represents more than 2,200 flight attendants at Spirit, reached a tentative agree-ment in March of this year. Voting took place throughout April and ended on May 5th. A re-cord 84% of eligible Flight Attendants voted on the proposed contract, with 79% voting to ap-prove the agreement. The pay increases for the Flight Attendants will take effect immediately. Other provisions in the contract will begin over the next few months, after the agreement is signed.

9

WEEKLY AVIATION HEADLINES

role, focus will be on the progression of business opportunities, strong sales growth and development of existing and new cus-tomer relationships and support.

• True Aero has hired Dan Barton as Man-ager of Airframe & Engine Material. Dan will be responsible for Airframe & Engine end of life management including teardown, sales, and repair vendor management. Dan is a U.S. Navy veteran and Embry-Riddle Aero-nautical University graduate. He brings ex-perience in sales, program management, airframe teardowns and product manage-ment from his time at AeroTurbine where he served in several roles.

• The Air France-KLM Board of Directors met on May 1 2016. Following the unani-mous recommendation of the Nomination and Governance Committee, the board has decided that Jean-Marc Janaillac shouldbecome the group’s Chairman and Chief Ex-ecutive Officer when Alexandre de Juniac leaves this position. Since 2012, Jean-Marc Janaillac has been Chairman and Chief Ex-ecutive Officer of Transdev, an international transportation group jointly owned by Veo-lia and the French Caisse des Dépôts. The board has decided that Mr. Janaillac will be co-opted as a group director when Mr. de Juniac leaves office on July 31st at the latest.He will then be appointed Chairman and Chief Executive Officer of Air France-KLM.

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Click here for more aviation events

Recommended Events• Air Partner, the global aviation services group, has released that Mike Hill has been appointed as Director of Freight, with responsibility for freight across the en-tire Air Partner Group. Mike has been with the

Group since 2007, when he joined to set up Air Partner’s freight office in Germany from scratch. In 2014 he was promoted from a business development position to Regional Freight Director – Europe. Mike will remain based in Air Partner’s German office and will report directly to Richard Smith, Head of Products, who previously held the role.

• AJW Aviation has ap-pointed David Lewis asChief Technical Officer, continuing the organi-zation’s commitment to the recruitment ofhighly experienced professionals to take the growth and devel-

opment of the business to greater heights worldwide . He will be responsible for: tech-nical standards and best practices across all divisions of the business (specifically MRO, reliability, warranty and inventory manage-ment for customer’s technical spares sup-port programmes, aircraft maintenance, engine management and asset health mon-itoring), guiding aircraft teardown and end-of-lease management reconciliations, as well as service-level agreements with AJW’s approved repair vendors. Lewis joins AJW from a seven-year career at flydubai, where he was most recently Head of Engineering, responsible for fleet airworthiness, engine management, technical planning and re-cords, and safety.

• Avtrade has appoint-ed Kenny Seow as Sen-ior Sales Executive. An aviation professional, based in Asia and inAvtrade’s Singapore office, Kenny will be responsible for key ac-count management

throughout the South Asia market. Support-ed by increased CAAC-approved inventory and regional component repair services, his appointment is in response to Avtrade’s growing presence in Asia. In Kenny’s new

INDUSTRY PEOPLE

David Lewis

Kenny Seow

Mike Hill

The Global MRO Procurement Expo 1 - 2 June 2016 Olympia, London

Technical Aspects of a Leased Asset 2016 6 June 2016 NH Carlton Hotel, Amsterdam

Maintenance Reserves Training Seminar 2016 7 June 2016 NH Carlton Hotel, Amsterdam

Engine Leasing Seminar 2016 19 September 2016 Holiday Inn Kensington Forum, London

Aircraft Economic Life Summit 2016 22 November 2016 Gibson Hotel, Ireland, Dublin

THE AIRCRAFT AND ENGINE MARKETPLACEPage 1 of 4

Aircraft Type Company Engine MSN Year Available Sale / Lease Contact Email PhoneA300-600 Aersale CF6-80C2A5 787 1998 Now Sale / Lease Craig Wright Craig.Wright@aersale.com +1 305 764 3238

A319-100 ORIX Aviation V2522-A5 2501 2005 Q2/2017 Lease Daniel Cunningham daniel.cunningham@orix.ie +353 871774524

A320-200 ORIX Aviation V2522-A5 2680 2006 Q2/2017 Lease Oisin Riordan oisin.riordan@orix.ie +353 863 350 004

A320-200 ORIX Aviation V2522-A5 1183 2000 Q2/2017 Sale / Lease Oisin Riordan oisin.riordan@orix.ie +353 863 350 004

A320-200 ORIX Aviation V2527-A5 1888 2002 Q2/2017 Sale Paul O`Dwyer pau.odwyer@orix.ie +353 863 822 960

A320-233 FPG Amentum V2527-A5 3543 2008 Jun 2016 Sale / Lease Jack Hynes marketing@fpg-amentum.aero +353 16398125

Commercial Jet Aircraft

May 9, 2016

y g@ pg

A320-233 FPG Amentum V2527-A5 3524 2008 May 2016 Sale / Lease Jack Hynes marketing@fpg-amentum.aero +353 16398125

A330-200 ORIX Aviation CF6-80E1A3 887 2007 Q1/2018 Lease Daniel Cunningham daniel.cunningham@orix.ie +353 871774524

A330-223 FPG Amentum PW4168A 943 2008 Mar 2016 Sale / Lease Jack Hynes marketing@fpg-amentum.aero +353 16398125

A330-223 FPG Amentum PW4168A 962 2008 Mar 2016 Sale / Lease Jack Hynes marketing@fpg-amentum.aero +353 16398125

A330-223 FPG Amentum PW4168A 979 2009 Oct 2016 Sale / Lease Jack Hynes marketing@fpg-amentum.aero +353 16398125

737-300 Aersale CFM56-3C1 27910 1997 Now Sale / Lease Craig Wright Craig.Wright@aersale.com +1 305 764 3238

B737-300 European Capital Corp. CFM56-3B2 24634 1990 Now ACMI/Wet Lease Iacovos Yiakoumi commercial@europeancapitalcorp.com +35722873250

B737 300 World Star Aviation Services CFM56 3C1 28873 Apr 2016 Lease Tommy Guttman tguttman@worldstaraviation com +972 544 220000B737-300 World Star Aviation Services CFM56-3C1 28873 Apr 2016 Lease Tommy Guttman tguttman@worldstaraviation.com +972-544-220000

B737-300F ORIX Aviation CFM56-3B2 24710 1990 Now Sale Cian Coakley cian.coakley@orix.ie +353 877760451

B737-400 World Star Aviation Services CFM56-3C1 24332 Q4/2016 Lease Tommy Guttman tguttman@worldstaraviation.com +972-544-220000

B737-400 Safair Operations Combi Now ACMI only C. Schoonderwoerd corneliss@safair.co.za +27 11 928 0000

B737-800 ORIX Aviation CFM56-7B26/3 29660 2007 Q4/2017 Lease Daniel Cunningham daniel.cunningham@orix.ie +353 871774524

B737-800 Fortress Investment Group CFM56-7B26 29888 2002 Now Lease Jeff Lewis aviation@fortress.com +1 (305) 833-0309

B747-400 GA Telesis CF6-80C2B1F 28960 1998 Now Sale Stefanie Jung sjung@gatelesis.com +1 954-958-1321

747-400 Fortress Investment Group CF6-80C2B1F 28959 1998 Now Lease Jeff Lewis aviation@fortress.com +1 (305) 833-0309

East Africa

B757-200 mba aircraft solutions RB211-535E4B 24582 1990 Now Sale / Lease Jacob Agnew jagnew@mbaas.aero +1 703 276 3202

B757-222 Bristol Associates PW2037 25157 1991 Q1/2016 Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

B757-222 Bristol Associates PW2037 25322 1991 Q1/2016 Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

B757-222 Bristol Associates PW2037 25396 1992 Q1/2016 Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

B757-222 Bristol Associates PW2037 25398 1992 Q1/2016 Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

B757-222 Bristol Associates PW2037 25698 1991 Q1/2016 Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

B767-200ER mba aircraft solutions JT9D-7R4E 23180 1984 Now Sale / Lease Jacob Agnew jagnew@mbaas.aero +1 703 276 3202

B767-27GER Aersale CF6-80C2B4F 27048 Now Sale / Lease Craig Wright Craig.Wright@aersale.com +1 305 764 3238g g g g @

DC8 Aersale No engines 46094 1969 Now Sale Craig Wright Craig.Wright@aersale.com +1 305 764 3238

ATR42-300 Regional One PW120 51 1987 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

ATR42-300 Regional One PW120 57 1987 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

ATR72-202 Regional One PW124B 307 1992 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

Aircraft Type Company Engine MSN Year Available Sale / Lease Contact Email PhoneCRJ700 Regional One CF34-8C5B1 10029 2001 Aug 2016 Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

Regional Jet / Turboprop Aircraft

CRJ700 Regional One CF34 8C5B1 10029 2001 Aug 2016 Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759 0670 Ext.164

DASH8-102 Magellan Aviation Group PW121 113 1988 Now Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202

DASH8-311 Regional One PW121 230 1990 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

DASH8-311 Regional One PW123B 291 1991 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

DASH8-311 Regional One PW123B 410 1995 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

DASH8-311 Magellan Aviation Group PW123 266 1991 Now Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202Dornier 328-300

Regional One PW306B 3145 2000 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164Dornier 328-300

Regional One PW306B 3185 2001 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

E170 M ll A i ti G CF34 8E5 59 2003 N S l / L Bill P l i bill l i@ ll t 1 (704) 504 9204 202E170 Magellan Aviation Group CF34-8E5 59 2003 Now Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202

May 9, 2016

May 18, April 20, 2015www.gatelesis.com

Component solutions you can trust with the world’s most powerful independent rotable inventory

THE AIRCRAFT AND ENGINE MARKETPLACEPage 2 of 4

Aircraft Type Company Engine MSN Year Available Sale / Lease Contact Email PhoneERJ-135ER Bristol Associates 145176 1999 Now Sale Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-135ER Bristol Associates 145186 1999 Now Sale Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-135ER Bristol Associates 145192 1999 Now Sale Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-135LR Bristol Associates AE3007-A1 145410 2001 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-135LR Bristol Associates AE3007-A1 145413 2001 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ 135LR B i t l A i t AE3007 A1 145504 2001 N S l / L Ed M N i / P t S idlit b i t l@b i t l i t +1 202 682 4000

Regional Jet / Turboprop Aircraft (cont.)

May 9, 2016

ERJ-135LR Bristol Associates AE3007-A1 145504 2001 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ145EP Regional One AE3007A1/1 145053 1998 Now Sale / Lease Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

ERJ-145LR Bristol Associates AE3007-A1/3 145208 1999 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-145LR Bristol Associates AE3007-A1/3 145239 2000 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-145LR Bristol Associates AE3007-A1/3 145302 2000 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

Contact Email PhoneSherry Riley engine.leasing@gecas.com +1(513)782-4272Contact Email PhoneAE3007 Engines Sale / Lease

Now - Sale / Lease GECAS Engine LeasingMultiple Types Sale / LeaseCommerical Engines

Company

CompanyMultiple Engines GE / CFM / RB211

Contact Email Phone(1) AE3007A1 Now - Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202(1) AE3007 Now - Sale GA Telesis Stefanie Jung sjung@gatelesis.com +1 954-958-1321

Contact Email PhoneCF34-8E5 Now - Lease Lufthansa Technik AERO Alzey Kai Ebach k.ebach@lhaero.com +49-6731-497-368CF34-10E Now - LeaseCF34-8C Now - LeaseCF34-3B1 Now - LeaseCF34-3A Now - Sale / Lease(2) CF34-8C5B1 Now - Sale / Lease Regional One Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164

AE3007 Engines Sale / Lease CompanyMagellan Aviation Group

CF34 Engines Sale / Lease Company

( ) g @ g ( )(1) CF34-3B1 Now - Sale / Lease(1) CF34-10E5A1 Q2/2016 Sale / Lease GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111(1) CF34-8C5/B1 Now - Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202

Sherry Riley engine.leasing@gecas.com +1 (513) 782-4272(1) CF34-8C5 Now - Lease Engine Lease Finance Declan Madigan declan.madigan@elfc.com +353 61 291717(2) CF34-10E6 Now - Lease David Desaulniers ddesaulniers@willislease.com +1 415 516 4837(1) CF34-3B1 Now - Lease(1) CF34-10E7 Now - Lease

Contact Email Phone(1) CF6 80C2B1F N S l / L A S l I Al K h Al K h @ l 353 879 393 534

GECAS Engine LeasingCF34-8E(s) Now - Sale / Lease

CompanySale / Lease

Willis Lease

CF6 Engines

Magellan Aviation Group

(1) CF6-80C2B1F Now - Sale / Lease AerSale. Inc. Alan Kehoe Alan.Kehoe@aersale.com +353 879 393 534(1) CF6-80C2B6F Now - Sale / Lease Matthew White matthew.white@aersale.com +353 1475 3005(1) CF6-80C2B7F Now - Sale / Lease Matthew White matthew.white@aersale.com +353 1475 3005(1) CF6-80C2B6F Now - Sale/Lease/Exch. TES Aviation Group Bechan Carpenter Bechan.carpenter@tesaviation.com + 44 7795 636 034(1) CF6-80C2B7F Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349(1) CF6-80C2B6F Now - Sale / Lease(1) CF6-80C2B1F Now - Sale / Lease(1) CF6-80C2B7F Now - Sale GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111(2) CF6-80C2B7F Now - Lease Engine Lease Finance Declan Madigan declan.madigan@elfc.com +353 61 291717

Contact Email PhoneCFM56 Engines Sale / Lease Company Contact Email Phone(2) CFM56-5C4 Now - Sale/Lease/Exch. TrueAero, LLC Ed Blyskal eblyskal@trueaero.com +1 305-525-7308(1) CFM56-5C4/P Now - Sale/Lease/Exch.(1) CFM56-3C1 Now - Sale European Capital Corporation Iacovos Yiakoumi commercial@europeancapitalcorp.com +35722873250 (1) CFM56-3B2 (1) CFM56-7B27 Now - Lease Engine Lease Finance Declan Madigan declan.madigan@elfc.com +353 61 291717(1) CFM56-5B1/P Now - Lease(1) CFM56-5C4 Jun 16 - Sale / Lease Frank Rustmeier frank@royalaero.com +49 (0)8025 99360(1) CFM56-5A1 Now - Sale / Lease GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111(1) CFM56-5B Now - Sale / Lease Eddo Weijer eweijer@gatelesis.com +1-954-676-3111(1) CFM56-7B27/3B1F Now - Sale/Lease/Exch. AerSale. Inc. Alan Kehoe Alan.Kehoe@aersale.com +353 879 393 534

CFM56 Engines Sale / Lease Company

Royal Aero

(1) CFM56 7B27/3B1F Now Sale/Lease/Exch. AerSale. Inc. Alan Kehoe Alan.Kehoe@aersale.com 353 879 393 534(1) CFM56-5C3/F Now - Sale / Lease(1) CFM56-3C1 Now - Sale / Lease

May 9, 2016

GECASEngine Leasing

THE AIRCRAFT AND ENGINE MARKETPLACEPage 3 of 4

Contact Email PhoneSherry Riley engine.leasing@gecas.com +1(513)782-4272

(1) CFM56-5C4 Now - Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202(multiple) CFM56-3C1 Now - Sale / Lease Aero Jet Kevin Avedian kevin@aerojet.aero +1 818-203-2070(3) CFM56-3C1 Now - Sale / Exchange CFM Materials Steven Jefferson Steven.Jefferson@cfmmaterials.com +1 214-988-6640(2) CFM56-7B24 Now - Sale / Exchange Jimmy Hill Jimmy.Hill@cfmmaterials.com +1 214-988-6670(1) CFM56-5C4 Now - Sale Orix Aviation James Sammon james.sammon@orix.ie +353 871381042(1) CFM56-3C1 Now - Sale/Lease/Exch. TES Aviation Group Bechan Carpenter Bechan.carpenter@tesaviation.com + 44 7795 636 034(1) CFM56-7B22 Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349

(2) CFM56-5ACompanySale / LeaseGECAS Engine Leasing

CFM56 EnginesNow - Sale

Commerical Engines (cont.)

Magellan Aviation Group

May 9, 2016

(1) CFM56-7B22 Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349(1) CFM56-3B2 Now - Sale / Lease(1) CFM56-7B24 Now - Sale / Lease(1) CFM56-7B26 Now - Sale / Lease(1) CFM56-7B27 Now - Sale / Lease(1) CFM56-3C1 Now - Sale / Lease(1) CFM56-5B Now - Sale/Lease/Exch. Werner Aero Services Cliff Topham ctopham@werneraero.com +1-703-402-7430(1) CFM56-7B Now - Sale/Lease/Exch.

Ann Lee alee@willislease.com +1 (415) 408 4769(1) CFM56-5B4/3 Now - Lease(1) CFM56-7B26/3 Now - Lease

Willis Lease(1) CFM56-7B24 (Non-TI) Now - Lease

(1) CFM56 7B26/3 Now Lease(1) CFM56-5B4/P Now - Lease(2) CFM56-7B24/3 Now - Lease(1) CFM56-3B2 Now - Sale / Lease AeroTurbine Todd Power tpower@aeroturbine.com +1 (214) 240-1145(1) CFM56-5C4 Now - Sale / Lease(1) CFM56-7B 26/3 Now - Sale / Lease

Contact Email PhoneGEnx-1B74/75 Now - Lease Willis Lease Ann Lee alee@willislease.com +1 (415) 408 4769

Contact Email Phone(1) JT8D-200 Now - Sale GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111(2) JT9D-7R4 Now - Sale Phoenix Aer Capital Bob Gallagher reg@pacllc.aero +1-727-376-9292

Sale / Lease Company

CompanyJT8D and JT9D Engines

GEnx Engines

Sale / Lease

( ) p g g@p(1) JT9D-7R4D Now - Sale Aero Controls, Inc. Mike Olesik Mike.Olesik@aerocontrols.com +1-253-269-3012(2) JT9D-7R4D Now - Sale / Lease Hartford Aviation Group Anique Gorman agorman@hartfordaviation.com +1 914-235-2014

Contact Email Phone(1) PW121 (Dash 8) Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202(1) PW123B/D/E

(1) PW121 (ATR)(1) PW127E/F/M (1) PW150A(2) PW121 (ATR) Now - Sale/Lease/Exch. David Desaulniers ddesaulniers@willislease.com +1 415 516 4837

Now - Sale / Lease(1) PW124B Now - Sale / Lease

Willis Lease

Now - Sale / Lease

Now - Sale / LeaseNow - Sale / Lease

Now - Sale / Lease

Magellan Aviation GroupCompanyPW Small Engines Sale / Lease

(2) PW121-8 Now - Sale/Lease/Exch.(1) PW123 Now - Sale/Lease/Exch.(1) PW127 Now - Sale/Lease/Exch.(1) PW150A Now - Sale/Lease/Exch.(1) PW127M Now - Sale/Lease/Exch.(2) PW127F Now - Sale/Lease/Exch.(2) PW124B Now - Sale/Lease/Exch.(1) PW120A Now - Sale / Lease Regional One Chris Furlan cfurlan@regionalone.com +1(305) 759-0670 Ext.164(1) PW120 Now - Sale/Lease/Exch. Miguel Bolivar mbolivar@RegionalOne.com +1 (786)-623-3936 (1) PW123E Now - Sale/Lease/Exch. Miguel Bolivar mbolivar@RegionalOne.com +1 (786)-623-3936 ( ) S / / @ O ( )(4) PW126 Now - Sale/Lease/Exch. Miguel Bolivar mbolivar@RegionalOne.com +1 (786)-623-3936 (1) PW121 Now - Sale/Lease/Exch. Miguel Bolivar mbolivar@RegionalOne.com +1 (786)-623-3936 (1) PW121 Now - Lease Frank Rustmeier frank@royalaero.com +49 (0)8025 99360(3) PW123 Now - Sale / Lease Castlelake Neil McCrossan NEIL.MCCROSSAN@CASTLELAKE.COM +44 (0) 207 190 6119PW127F Now - Sale/Lease/Exch. Logix.Aero JC Morin jcmorin@logix.aero +33 647 824 262 PW127M Now - Sale/Lease/Exch.PW119B RGB Now - Lease Lufthansa Technik AERO Alzey Kai Ebach k.ebach@lhaero.com +49-6731-497-368PW119B Now - LeasePW120A Now - LeasePW121 (ATR) Now - LeasePW123B Now Lease

Royal Aero

PW123B Now - LeasePW124B Now - LeasePW125B Now - LeasePW127F Now - LeasePW127M Now - LeasePW150A Now - LeasePW150 GRB Now - Lease

Contact Email Phone(2) PW2037 Now - Sale / Lease Castlelake Neil McCrossan NEIL.MCCROSSAN@CASTLELAKE.COM +44 (0) 207 190 6119(1) PW2037M Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349(1) PW2040 N S l / L

CompanyPW2000 Engines Sale / Lease

(1) PW2040 Now - Sale / Lease(1) PW2000 Now - Sale / Lease AeroTurbine Todd Power tpower@aeroturbine.com +1 (214) 240-1145

Contact Email Phone(4) PW4056-1 Now - Sale/Lease/Exch. GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111(1) PW4056-3 Now - Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504 9204 x202

PW4000 Engines Sale / Lease Company

Magellan Aviation Group

May 9, 2016

THE AIRCRAFT AND ENGINE MARKETPLACEPage 4 of 4

Contact Email Phone(1) PW4060-3 Now - Sale / Lease AeroTurbine Todd Power tpower@aeroturbine.com +1 (214) 240-1145(1) PW4158-1C/1E Now - Sale 3TOP Aviation Services Paul Dsilva Paul@3topaviation.com +44 1372 587 872(multi rated for PW4156A-1C/1E & PW4152-1C/1E)(1) PW4062 Now - Sale / Lease Frank Rustmeier frank@royalaero.com +49 (0)8025 99360(1) PW4060-3 Now - Lease Ann Lee alee@willislease.com +1 (415) 408 4769(1) PW4168A Now - Lease(1) PW4056-3 Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349( ) / / S / f G G @ f

Commerical Engines (cont.)CompanyPW4000 Engines

Willis Lease

Sale / Lease

Royal Aero

May 9, 2016

(3) PW4056/60/62 Now - Sale / Lease Hartford Aviation Group Anique Gorman agorman@hartfordaviation.com +1 914-235-2014(1) PW4060-3 Now - Sale / Lease AerSale. Inc. Matthew White matthew.white@aersale.com +353 1475 3005(1) PW4158-3 Now - Sale / Lease Matthew White matthew.white@aersale.com +353 1475 3005(1) PW4062-3 Now - Sale / Lease Matthew White matthew.white@aersale.com +353 1475 3005(1) PW4056-3 Now - Sale / Lease Alan Kehoe Alan.Kehoe@aersale.com +353 879 393 534(1) PW4168 Now - Lease TES Aviation Group Bechan Carpenter Bechan.carpenter@tesaviation.com + 44 7795 636 034(1) PW4168A Now - Sale / Lease Engine Lease Finance Declan Madigan declan.madigan@elfc.com +353 61 291717

Contact Email Phone(1) RB211-535E4B Now - Sale mba aircraft solutions Jacob Agnew jagnew@mbaas.aero +1 703 276 3202(1) RB211-535E4 Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349

RB211 Engines Sale / Lease Company

(1) RB211-535E4 Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349(2) RB211-535E4 Now - Sale / Lease Castlelake Neil McCrossan NEIL.MCCROSSAN@CASTLELAKE.COM +44 (0) 207 190 6119(1) RB211-535E4 Now - Sale / Lease AerSale. Inc. Matthew White matthew.white@aersale.com +353 1475 3005(1) RB211-524 Now - Sale / Lease(1) RB211-535E4 /12B Now - Sale/Lease/Exch. TES Aviation Group Bechan Carpenter Bechan.carpenter@tesaviation.com + 44 7795 636 034(1) RB211-535E4 Now - Sale World Star Aviation Services Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

Contact Email PhoneTay650-15 Now - Sale / Lease Jetran, LLC. Leo Nadeau lnadeau@jetran.aero +1 (512) 294-6727

Contact Email Phone(1) Trent 800 Now - Sale / Lease GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

Tay Engines

Sale / LeaseTrent Engines

Company

Company

Sale / Lease

(2) Trent892B-17 Sep/Oct 16 - Sale / Lease Castlelake Neil McCrossan NEIL.MCCROSSAN@CASTLELAKE.COM +44 (0) 207 190 6119(1) Trent 800 Now - Sale / Lease AerSale. Inc. Matthew White matthew.white@aersale.com +353 1475 3005

Contact Email Phone(1) V2533-A5 Now - Lease Willis Lease Ann Lee alee@willislease.com +1 (415) 408 47691) V2533-A5 w/QEC Now - Sale/Lease/Exch. Rolls-Royce & Partners Finance Bobby Janagan bobby.janagan@rolls-royce.com +44 20 7227 9078(1) V2527-A5 w/QEC Now - Sale/Lease/Exch.(1) V2527E-A5 Now - Sale / Lease Fortress Investment Group Tom McFarland Aviation@fortress.com +1 305-520-2349(1) V2533-A5 Now - Sale/Lease/Exch. Werner Aero Services Cliff Topham ctopham@werneraero.com +1-703-402-7430(1) V2527-A5 Now - Lease Engine Lease Finance Declan Madigan declan.madigan@elfc.com +353 61 291717(1) V2533 A5 Now Sale / Lease

Sale / Lease CompanyV2500 Engines

(1) V2533-A5 Now - Sale / Lease

Description Contact Email Phone(5) A340 fresh part outs Now - Sale TrueAero, LLC Dan Barton/Dave Walters sales@trueaero.com +1 772-925-8026A320 Landing Gear with Fresh Tags Now - SaleA340 Landing Gear Now - SaleCTCP331-350C (4) PN 3800454-6 Now - SaleGTCP36-300A, PN 3800278-4 Now - Sale(1) GTCP36-150RJ, (2) GTCP36-100M, Now - Sale/Lease/Exch. Regional One Miguel Bolivar mbolivar@RegionalOne.com +1 (786)-623-3936 (1) APS500C7B, (5) APS500C7D, (1) RE220RJ,

Aircraft and Engine Parts, Components and Misc. EquipmentCompany

( ) , ( ) , ( ) ,(1) APS1000-C12, (2) TPE331-11U-612GGTCP131-9A (2), GTCP131-9B(2) Now - Lease REVIMA APU Olivier Hy olivier.hy@revima-apu.com +33(0)235563515GTCP331-200, GTCP331-250 Now - LeaseAPS500C14(3), APS1000C12(2), APS2000 Now - LeaseAPS2300, APS3200(2), APS5000(2) Now - Lease

PW901A(4), PW901C(2) Now - Sale / Lease

TSCP700-4E Now - SaleNow - Lease Willis Lease Ann Lee alee@willislease.com +1 (415) 408 4769

Engine Stands Sale / Lease Tradewinds Engine Services Brad Pleimann bpleimann@tesllc.aero +1 954-421-2510CFM56 5B CFM56 5C CFM56 7B V2500

APU GTCP 331-500B

Sale / LeaseEngine Stands Now - Sale / Lease Stands on Demand Yexceld Perez yperez@standsondemand.com +1 305-558-8973GE90/ CFM56 / V2500 / PW2000 / PW4000 94” & 100”

Now - Sale/Lease/Exch. Logix.Aero JC Morin jcmorin@logix.aero +33 647 824 262

Now - Sale / Lease Werner Aero Services Christopher Farrell cfarrell@werneraero.com +1 201-661-6819Now - Sale / Lease

Reliance Aircraft Terry Hix thix@relianceaircraft.com +1 512-439-6988PW901A, PW901C Now - Lease Lufthansa Technik AERO Alzey Kai Ebach k.ebach@lhaero.com +49-6731-497-368

CFM56-5B, CFM56-5C, CFM56-7B, V2500(1) CFM56-7B QEC KIT P/N 654A00017141

737-800 NOSE LANDING GEAR PN 162A1100-5, OH - Now Sale

GTCP131-9A, GTCP 131-9BGTCP36-300A

131-9A, 131-9B, 331-200, 331-250,

331-350C, PW901A

PW901A, PW901C Now - Lease Lufthansa Technik AERO Alzey Kai Ebach k.ebach@lhaero.com +49-6731-497-368(1) CF34-8C - LPT Module Now - SaleGTCP131-9B, PW901, (2) GTCP36-300, Now - Sale / Lease AeroTurbine Todd Power tpower@aeroturbine.com +1 (214) 240-1145GTCP131-9A, (2) RE220RJ, GTCP331-350C, APS3200

May 9, 2016