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WORLD NEWS

Mubadala changes strategy to focus on engine MROEtihad’s takeover of ADAT to expand in-house airframe, component servicesMubadala, the UAE investment vehicle, has sold off Abu Dhabi Aircraft Technologies (ADAT), the Gulf region’s largest MRO busi-ness, to Etihad Airways, the emir-ate’s flag carrier, to focus on its core competency of engine repair.

The change in strategy is part of Mubadala’s drive to become a tier 1 engine component manufactur-er and supplier. Its engine MRO business will be spun off into a new company called Turbine Serv-ices & Solutions Aerospace.

The move comes six months after Mubadala signed maintenance and manufacturing deals worth a combined $1bn with Rolls-Royce and GE Aviation at the 2013 Dubai Airshow, by which it undertook to become a components manu-facturer for the Rolls-Royce Trent XWB and the GE Aviation GEnx engines, with two new engine and manufacturing centres to be opened at Nebras Aerospace Park in Al Ain, Abu Dhabi.

The Gulf region is expected to have one of the highest penetra-tion rates of both engines. Five

Etihad (left) is one of

the world’s biggest

customers for Airbus A350 and Boeing

787 Next Generation

aircraft

Boeing

WEEKLY AVIATION HEADLINES

Growing leased fleet

ISSN 1718-7966 MAY 12, 2014 / VOL. 438

Boeing predicts that around half of the global aircraft fleet will be on operating leases in the coming years, up from 41% now. Kostya Zolotusky, managing director of Boeing Capital Corp, the airfram-er’s lending unit, said that some 70% of financiers and investors working in the aviation sector are seeking to increase their invest-ments, and predicted that lessors may have difficulties addressing the number of leased aircraft re-quired to fulfil demand.

Disbelief over discountsIndian airline executives reacted with disbelief to AirAsia’s claim that it could undercut rival carri-ers’ fares through its new Indian joint venture with Tata Sons by 35% and still be profitable. Spice Jet COO Sanjik Kapur said that Indian fares are already low, and going lower would lead to casu-alties like Kingfisher, grounded since Decemer 2012 with debts of $1.2bn. The accumulated losses for Indian airlines to March 2013 were $8.6bn, with industry debt pegged at $12.6bn, according to figures from the Centre for Asia Pacific Aviation.

Dubai’s Emirates Airlines posted a 42.5% rise in profits to $887m in the last financial year, with revenues increasing 13% to $22.5bn. The wider Emirates Group recorded a similar rise of 13.2% in revenues, to $23.9bn, with profits up 31.6% to $1.1bn. The number of passengers car-ried by Emirates rose by 13% to 44.5m, with seat factor falling by 0.3% to 79.4%. The results rep-resented the 26th consecutive year of profit for the group.

A captive market: Next generation aircraft orders in the GulfAirbus A350 A350-800 A350-900 A350-100

Emirates 50 20

Etihad 40 22

Kuwait Airways 10

Qatar Airways 43 37

Yemenia 10

Total A350 family orders from Gulf region: 232. Share of global total: 29%

Boeing 787 787-8 787-9 787-10

ALAFCO 8

Etihad 41 30

Gulf Air 16

Oman Air 6

Qatar Airways 30

Saudi Arabian 8

Total 787 family orders from Gulf region: 139. Share of of global total: 14%

*As of 9 May 2014. Source: Companies

Another year of profit

Gulf airlines account for nearly one in three of all orders to date for Airbus’ all-new A350 long-haul aircraft, powered by the Trent XWB, while six Gulf opera-tors represent nearly 14% of all orders for the Boeing 787 Dream-liner, with more than half com-mitted to the GEnx .

Etihad, meanwhile, will benefit from bringing in-house enhanced airframe and component mainte-nance capabilities for its growing group of airlines, as well as the more than 70 commercial airlines that it already serves.

GA Telesis is not just a provider of component, maintenance and engine overhaul services; we own and manage a significant fleet of commercial airplanes and jet engines. More important, we understand the nuances related to maintaining your assets cost effectively.

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INTELLIGENTLY DEFINING AVIATION ™

Airbus took orders for 78 planes in April, led by American Airlines’ purchase of 71 single-aisle A320 family air-craft - comprising 64 A321 current engine option (CEO) models and seven A319ceos. Singapore’s Air Force acquired six wide-body A330-200s, which will become A330 MRTTs to pro-vide airlift and aerial refueling.

The airframer deliv-ered a total of 52 air-craft in April, consisting of 40 A320 family aircraft and 12 A330s. Its backlog reached 5,508 aircraft, compared to 4,973 at the same point last year.

Boeing received orders for a total of 70 orders in April, all for its single-aisle 737 family of aircraft. Of these, 46 bookings were logged for the re-engined 737 Max, all from unidentified customers. A further 24 737-800s were purchased, including three for Turkmenistan Airlines.

Boeing delivered a total of 56 aircraft to international customers in April, including 39 737 narrow-bodies, one 747-8 and eight 787 Dreamliners - with two 787s going to Qatar Airways and one to Royal Brunei Airlines. It also delivered eight 777s to eight customers.

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AIRCRAFT & ENGINE NEWS

Norwegian signs agreements to lease three new 787-9 Dreamliners

Norwegian signed agreements to lease three new Boeing 787-9 Dreamliners for its long-haul operation. Two of the aircraft will be de-livered in 2016 and one in 2017. This is the brand new, more environmentally friendly and even larger Dreamliner model, which is sched-uled to enter commercial service this year.Today, Norwegian has five 787-8 Dreamliner aircraft in its fleet and another three on or-der. In addition, the company has six 787-9 Dreamliners on order. With the new order an-nounced on May 7th, Norwegian will have 17 aircraft in its long-haul fleet in 2018.

SonAir takes delivery of one new EC225 from Airbus Helicopters

Airbus Helicopters’ EC225 presence in the Af-rican oil and gas heli-lift market will expand following delivery of an additional workhorse rotorcraft to SonAir, which is to deploy this long-range helicopter on operations in An-gola. A handover ceremony in Marignane, France marked the EC225’s delivery, with this latest aircraft joining SonAir’s Airbus Heli-copters-built fleet of heavy helicopters that already includes 11 EC225s, four AS332 L2s and three AS365 N3s.

A350 XWB at McKinley Climatic Lab in Florida for more extreme weather tests

In order to go beyond certification require-ments and testing to the extremes the first ever Airbus A350 XWB to visit the United States, MSN (manufacturer’s serial number) 2 has arrived at McKinley Climatic Lab at Eg-lin Air Force base in northwest Florida. Over the next couple of weeks the aircraft and its various systems and cabin installations will be subjected to the extreme hot and cold tem-

peratures that the unique facility can sustain in a testing environment. These tests come on top of those already performed earlier this year in the Middle East and Northern Canada to ensure maturity and full in-service readi-ness from Day 1 for all A350 XWB’s opera-tors. There are currently four test aircraft fly-ing in the A350 XWB programme. Together they have accumulated around 1,600 flight test hours in more than 350 flights. The cer-tification process for the programme is pro-gressing on schedule – certification is antici-pated in the third quarter of 2014 with entry into service in the fourth quarter of this year.

MTU displays original geared turbo-fan engine for first time

MTU Aero Engines will be displaying an origi-nal Geared Turbofan (GTF) engine for the first time at the 2014 ILA Berlin Air Show. The PurePower PW1500G, the propulsion system for Bombardier’s CSeries aircraft, is made available to MTU on a loan basis by its U.S. partner Pratt & Whtney. The geared turbofan engine marks a huge leap forward in engine technology:thanks to the new en-gine architecture, the GTF achieve s a 15% reduction in fuel burn – which is tantamount

So quiet you might wonder is this thing on?

Airbus v Boeing: Orders and DeliveriesApril 2014

Airbus Boeing

Type Orders* Deliveries Type Orders* Deliveries

A318 0 0 737-700 0 3

A319 8 11 737-800 120 123

A320 76 100 737-900 2 28

A321 86 40 737-MAX 217 0

A330 34 36 747 1 5

A340 0 0 767 0 0

A350 12 0 777 4 32

A380 20 6 787 1 26

Total 236 193 Total 345 217

*Gross Orders Source: Company websites

ORDERS AND DELIVERIES - AIRBUS AND BOEING

Etihad Airways signs agreement to acquire Abu Dhabi Aircraft Tech-nologies (ADAT)

Etihad Airways, the national airline of the United Arab Emirates, and Mubadala Develop-ment Company (Mubadala), entered into an agreement in which Etihad Airways will ac-quire Abu Dhabi Aircraft Technologies LLC (ADAT) from Mubadala. The deal will see Mu-badala retain ADAT’s engine focussed maintenance, repair and overhaul (MRO) business, which will be the catalyst for the continuity and growth of its dynamic engine business through the establishment of a new engine company. The transaction includes mainte-nance and engineering teams, hangars, component workshops, and paint facilities in Abu Dhabi which will enhance Etihad Airways capability to undertake airframe and compo-nent maintenance on its growing fleet of modern aircraft, including the new Airbus A380 and Boeing B787, which will join the fleet in the last quarter of 2014. Engine MRO is set to form a significant component of Mubadala’s aerospace strategy, and this new engine company will form the foundation for this growth under the leadership of Abdul Khaliq Saeed, ADAT’s current CEO. At the 2013 Dubai Airshow, Mubadala signed deals with Rolls Royce and GE Aviation to establish next-generation Trent XWB and GEnx MRO cent-ers of excellence in Al Ain. This was further supported with a combined commitment of $1.0bn in engine parts production from both manufacturers.

4AviTrader WEEKLY AVIATION HEADLINES

to a 15% reduction in CO2 emission – and cuts the perceived noise level in half. To date, five aircraft manufacturers have selected the innovative propulsion concept: Airbus has chosen the GTF, which is developed jointly by Pratt & Whitney and MTU, for the A320neo, Bombardier for the CSeries, Irkut for the MS-21, Mitsubishi for the MRJ, and Embraer for its new E-Jets. At the moment, the GTF order book stands at over 5,300 engines.

ATSG signs new multi-year dry-lease agreements with Cargojet and Amerijet

ATSG announced new dry-leases for two Boeing 767-200 freighters to Cargojet, a Ca-nadian airline, for terms of up to three years beginning in the second and third quarters of 2014. These aircraft are in addition to the two 767-200 freighters Cargojet currently leases from CAM. ATSG also dry-leases two Boe-ing 767-300 freighters to Amerijet, a Florida based airline, under six-year terms beginning in the third quarter 2014. Amerijet currently leases three 767-200 freighters from CAM.

Air Lease Corporation places three new Airbus A321neo aircraft with Novair

Air Lease Corporation announced long term lease agreements with Novair for three new Airbus A321neo aircraft, which are scheduled to begin delivery in 2017. Novair is based in Stockholm, Sweden and owned by Switzer-land’s Kuoni Travel Group. These aircraft are from ALC’s order book from Airbus.

Royal Brunei Airlines selects P&W PurePower engines for new A320neos

Royal Brunei Airlines, the flag carrier of Brunei Darussalam, has signed a letter of intent with Pratt & Whitney for PurePower PW1100G-JM engines to power seven firm A320neo air-craft (together with three options). Deliveries are scheduled to commence in 2018.

Finnair signs MOU on the sale of three Embraer 170 aircraft

Finnair Aircraft Finance Oy, Finnair’s fleet man-agement subsidiary, signed an MOU with Infin-ity Aviation Capital, a US-based aircraft leasing company, on the sale of three Embraer 170 aircraft to affiliates of Infinity Aviation Capital. The value of the arrangement is approximately $40m, and the transactions are expected to close in the second half of 2014. The sale of the three aircraft will not have significant impact on Finnair’s 2014 result. Two of three aircraft are currently operated by Kenya Airways and one by Aeroliteral Mexico. At the time of the transaction, all three aircraft will be operated by Aeromexico Connect.

May 12, 2014 / Vol. 438

MRO & PRODUCTION

Lufthansa Technik opens third US loca-tion for Aircraft Production Inspection

Lufthansa Technik AG enlarges its product portfolio and announced the opening of the third US location after Everett and Renton for Aircraft Production Inspection of Boeing air-craft at North Charleston/South Carolina. The first Boeing 787s have already been success-fully supported and the Lufthansa Technik in-spectors are permanently on-site. Marketed

under the name of Aircraft Production In-spection Program (APIP), Lufthansa Technik is offering this independent production inspec-tion to both airlines and leasing companies. Lufthansa Technik experience and know-how from looking after customer fleets worldwide on a day-to-day basis mean it receives contin-uous feedback in the areas of technical qual-ity and operational flexibility. This operational expertise is reflected in all product areas of the Aircraft Production Inspection Program. APIP inspectors are stationed permanently at all major Boeing final assembly sites and also at other manufacturers.

AFI KLM E&M and GMF sign major component maintenance partnership

Air France Industries KLM Engineering & Maintenance and Garuda Maintenance Facility AeroAsia (GMF), a leading supplier of MRO services in South East Asia, signed compo-nent maintenance contracts enabling AFI KLM E&M to subcontract component repairs to GMF. These contracts were signed as a next step in the co-operation whereby GMF signed two long term support agreement with AFI KLM E&M last year: one covering component support for 10 777-300ERs and the other for component support of 78 737s operated by Indonesian flag-carrier Garuda Indonesia. The support services provid-ed by AFI KLM E&M include component repair, access to a spares pool, and the creation and provision of a local main base kit at the client’s facility in Jakarta. The newly signed agreements will allow AFI KLM E&M to start using the growing GMF component repair capabilities not only for certain component repairs related to the support agreements for the Garuda fleet but also for other operators in the region.

AFI KLM E&M will subcontract component repairs to GMF. GMF

AviTrader WEEKLY AVIATION HEADLINES5

Ontic selects Apsco for exclusive dis-tribution agreement on Woodward products

Ontic, a BBA Aviation company, appointed Air Parts & Supply Company or “APSCO”, lo-cated in Miami, FL as its exclusive world-wide distributor for its Woodward Governors/Syn-chronizers/Synchrophasers product line. On-tic supports many major OEM’s, including Woodward, for the last 50 years by providing a guaranteed source of factory-new, OEM-pedigreed spare parts and authorized repair services for a wide range of legacy aircraft. Ontic has established a long-standing rela-tionship with the OEM’s by adopting legacy product lines and carrying them forward for the complete and entire life of the fleet.

Triumph Group to provide Sharklet wing reinforcement kit for Airbus A319, A320 in-service aircraft

Triumph Group reported that its subsidiary, Triumph Aerostructures-Vought Aircraft Divi-sion, has been selected by Airbus to furnish the wing reinforcement kit that allows for the

installation of Sharklets on the Airbus A319 and A320 in-service aircraft. The kit consists of multiple subassemblies and components that reinforce the wing for the Sharklet loads. The multi-year contract is worth over $160.0m. Production will be done at the company’s Nashville, Tennessee facility, with first delivery expected early 2015. Triumph Aerostructures-

Vought Aircraft Division designs, tests and manufactures aerostructures for commercial, military and business jet aircraft. Products in-clude fuselage sections, wings, empennages, nacelle structures and helicopter cabins.

Airbus Helicopters certifies Abidjan maintenance center operated by In-ternational Aircraft Services

Firmly committed to the development of servic-es situated in proximity to its operators, Airbus Helicopters certified the Abidjan maintenance center operated by International Aircraft Serv-ices (IAS), the largest civil helicopter operator in Western and Central Africa. Equipped with all the necessary operational resources, the center will service the AS365 and AS350 models from the famous Dauphin and Ecureuil families. With more than 670 helicopters in service in Africa, and nearly 130 of them in Western and Central Africa, Airbus Helicopters is pursuing its international development, becoming the first helicopter manufacturer in this vast re-gion to make available to its customers an en-tire maintenance and support center certified “Operational & Intermediate” (O&I) level.

Boeing selects MAEL to provide GoldCare to Middle East customer

Monarch Aircraft Engineering (MAEL) was selected by Boeing to provide Gold-Care airframe maintenance support to a Middle Eastern customer’s Boeing 787-800 Dreamliner operation at Abu Dhabi. This is the fourth Boeing 787 Dreamliner contract for MAEL, whose highly expe-rienced engineering team will shortly introduce support services for the new customer, having successfully added the Boeing 787 Dreamliner aircraft to its ex-isting UAE General Civil Aviation Author-ity maintenance approval.

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AerCap Holdings reports strong fi-nancial results

AerCap Holdings reported that its adjusted net income was $79.9m for the first quarter of 2014. Adjusted earnings per share were $0.70 for the first quarter of 2014, an increase of 17% over the first quarter of 2013. The debt to equity ratio was 2.5 to 1 at March 31, 2014, compared with 2.6 to 1 for the same period in 2013. AerCap signed financing transac-tions for $2.82bn, primarily relating to an agreement to replace ILFC’s $2.3bn unsecured revolving credit facility with a new $2.75bn four-year unsecured revolving credit facility, to become effective upon the closing of the ILFC transaction. Fleet utilization rate was 98.9% for the first quarter of 2014. The average age of the owned fleet as of March 31, 2014 was 5.6 years and the average remaining con-tracted lease term was 6.6 years. During the first quarter 2014, the Company purchased three aircraft with a total value of $0.2bn and the future aircraft purchases were $3.3bn as of March 31st, 2014, relating to 41 aircraft, including five purchase rights. The 36 aircraft that are fully committed are all placed on long term leases with an average term of 11.9 years. As previously disclosed, 29 aircraft transac-tions were executed during the first quarter of 2014. Subsequent to the first quarter of 2014, on April 22nd, 2014, AerCap completed the sale of 100% of the class A common shares in Genesis Funding Limited, an aircraft securi-

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FINANCIAL NEWS

SIAEC Group posts profit of $265.7m for financial year ended March 31st, 2014

SIAEC Group posted a profit of $265.7m for the financial year ended March 31st, 2014. Revenue grew by $31.5m or 2.7%, mainly due to an increase in line maintenance and airframe and component overhaul work, while expenditure increased $44.0m or 4.3%. As aresult, operating profit was $12.5m or 9.8% lower at $115.6m. The increase in expenditure came mainly from higher staff costs, subcontract and material costs. Per-formance for the year was also impacted by an exchange loss of $3.6m as compared to a gain of $1.2m last year. Associated and joint venture companies showed steady growth, as share of profits increased $12.5m or 8.3% to $162.6m. This represented 61% of the Group’s net profit. The main contributors were the engine repair and overhaul centres which accounted for $125.0m of the share of profits, an increase of $12.4m or 11.0% from last year. As of March 31st, 2014, equity attribut-able to owners of the parent of $1,360.9m was $59.0m or 4.5% higher than of March 31st, 2013. Total as-sets increased by $74.4m or 4.6% to $1,707.1m at the end of FY2013-14. The cash balance of the Group as of March 31st, 2014, amount-ed to $535.7m.

Aviation Technical Services and UTair Aviation partner in Kansas City

Aviation Technical Services (ATS) and UTair Avi-ation entered into a service agreement for ATS to supply maintenance and engineering serv-ices to the Russian passenger carrier on eight B767-200 aircraft. The program will consist of modifying the existing 170 passenger configu-ration aircraft to a 255 passenger configura-tion, along with integrating and maintaining the aircraft to UTair’s maintenance program. The services will be completed at the new ATS facility in Kansas City, Missouri.

Saab signs E-Jet agreement with Lie-bherr-Aerospace

Defence and security company Saab signed an agreement with Germany’s Liebherr-Aero-space Lindenberg GmbH to provide mainte-nance, repair and overhaul (MRO) services for landing gear equipment across the complete Embraer E-Jet family of regional aircraft. Saab is now adding a new strand to its capabilities by providing landing gear service and support for Embraer’s E-jet regional jet family (the E170 and E190 series). Based in Lindenberg, Ger-many, Liebherr-Aerospace Lindenberg GmbH is the original equipment manufacturer (OEM) for the Embraer E-Jet’s landing gear. Saab sees its agreement with Liebherr-Aerospace as an important, strategic move for future business. The agreement with Liebherr-Aerospace al-lows Saab to acquire and maintain updated technical documentation for E-Jet family land-ing gear equipment in order to perform main-tenance services for the equipment.

Air Astana signs long term mainte-nance agreement with JorAMCo

JorAMCo won a new long term maintenance service contract with the Kazakhstan based airline Air Astana, after the first successful collaboration took place last year for three of Air Astana’s Embraer 190s. The three year agreement between the two companies will take place from 2014 to 2016 and covers 15 checks for Embraers 190s, during which JorAMCo will be performing heavy mainte-nance tasks in addition to some Ads & SBs.

Sunshine Avionics receives Brazil re-pair station certification

Sunshine Avionics, a HEICO Aerospace Cor-poration subsidiary, announcede their recent ANAC repair station certification. ANAC (Agencia Nacional de Aviacao Civil), is the agency responsible for the regulation and the safety oversight of civil aviation in Brazil. This achievement will allow Sunshine Avion-ics to offer their advanced avionics repair services to the numerous airline and MRO customers in Brazil.

tisation vehicle with a portfolio of thirty-seven aircraft with an average age of thirteen years valued at approximately $750m.

Aircastle posts first quarter 2014 net income of $5.8m

Aircastle reported first quarter 2014 net in-come of $5.8m down $17.3m and adjusted net income of $13.3m. The first quarter results included operating and finance lease revenues of $178.3m versus $160.5m in the first quarter of 2013, up 11%. Thus far in 2014, Aircastle acquired or has committed to acquire thirteen aircraft for more than $1.1bn. During the first quarter, the Company closed on the purchase of four 777-300ER aircraft built in 2012 leased to LATAM Airlines and also completed the purchase of two A330-300 aircraft leased to Singapore Airlines and two 737-800 aircraft leased to Alaska Airlines. During the first quar-ter of 2014, Aircastle sold six 737 “classic” air-craft, four of which were in a freighter config-uration. Aircraft sales and dispositions during the quarter totaled $28.0m, which resulted in a net gain on the sale of aircraft of $1.1m.

Air Lease Corporation announces first quarter 2014 results

Air Lease Corporation reported another con-secutive quarter of fleet, revenue and profit-ability growth. Diluted EPS increased 50% to $0.57 per share for the three months ended March 31st, 2014 compared to $0.38 per share for the three months ended March 31, 2013. Revenues increased 28% to $246m,

May 12, 2014 / Vol. 438

A Singapore Airlines A380 at SIAEC’s facilities at Changi Airport SIAEC

Willis Lease Finance earns $4.3m in 1Q14

Willis Lease Finance Corporation (WLFC), the premier independent jet engine lessor in the commercial finance sector, reported first quarter 2014 net income was $4.3m, compared to $1.6m, in the first quarter of 2013, and $6.6m in the fourth quarter of 2013. At March 31, 2014, Willis Lease had 200 commercial aircraft engines, 5 aircraft parts packages and 4 aircraft and other engine-related equipment in its lease portfolio, with a net book value of $1.02bn, compared to 193 commercial aircraft engines, 3 aircraft parts packages and 7 aircraft and other engine-related equipment in its lease portfolio, with a net book value of 1.02bn, a year ago. The Company’s funded debt-to-equity is 3.53 to 1 at quarter end, compared to 3.70 to 1 at December 31, 2013 and 3.75 to 1 a year ago.

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compared to $192m in 2013. Income before taxes increased 54% to $95m with a pretax margin of 39% for the first quarter in 2014 compared to income before taxes of $62m with a pretax margin of 32% in 2013. Air Lease Corporation recorded $15.9m in gains on aircraft sales, trading and other activity for the first quarter 2014 and placed orders for nine additional aircraft from Airbus S.A.S., Avions de Transport Régional and The Boe-ing Company scheduled to deliver in 2014 through 2017. The Company signed forward lease placements with four new airlines.

ATSG reports first quarter 2014 rev-enues of $143.6m

Air Transport Services Group reported consoli-dated financial results for the quarter ended March 31st, 2014. For the first quarter of 2014 revenues were $143.6m, flat with a year ago. Increases in revenues from aircraft leasing and other business activities offset lower revenues from airline operations. Earnings from continu-ing operations of $6.5m were lower than earn-ings of $8.5m a year ago. A $4.1m increase in depreciation and amortization expense stem-ming from the addition of more modern air-craft to ATSG’s fleet, offset decreases in other operating expenses. Adjusted EBITDA (Earn-ings before Interest, Taxes, Depreciation and Amortization, also adjusted for the effect of derivative transactions) was $38.8m, up 4% from $37.3m in the prior-year quarter.

FLY Leasing reports first quarter net income of $3.6m, down from $32.8m in 2013

FLY is reporting net income for the first quarter of 2014 of $3.6m, this compares to net income of $32.8m for the same period in 2013. First quarter 2013 results benefitted from $30.6m of end of lease income and $6.5m in gains from aircraft sales. First quarter 2014 results were impacted by increases in interest expense as a result of FLY’s unsecured debt issuance last December, with much of the proceeds still un-used. Operating lease rental revenue increased 13% to $90.5m. End of lease revenues were $3.7m in the first quarter of 2014 compared to $30.6m of end of lease revenue recognized in the same period in the previous year. Adjusted net income was $5.1m for the first quarter of 2014 compared to $38.5m in the same period in the previous year, which included end of

lease income and gains from sales of aircraft. On a per share basis, adjusted net income was $0.12 in the first quarter of 2014 compared to $1.37 for the same period in the previous year.

Ultra acquires specialist provider of aerospace electrical power manage-ment systems

Ultra Electronics, an international defence, se-curity, transport and energy company, acquired ICE Corporation (“ICE”) based in Manhattan, Kansas for an initial cash consideration of $8.6m. Ultra acquired ICE from private inves-tors, which includes the original founder. All of the management team will stay with the busi-ness. ICE designs, develops, manufactures and supports aerospace products including, motor control electronics, electrothermal ice protec-tion controllers, pneumatic valve controls and engine control interface units. ICE customers include Parker Hannifin Corporation, Cessna Aircraft Company and Meggitt. The acquisi-tion of ICE will be financed using Ultra’s exist-ing facilities and will be fully earnings accretive in 2015. Additional payments of up to $3m will be made subject to certification of the new WheelTug electric taxi system for which ICE provides essential parts. ICE, which has 50 employees, will continue to operate from its existing facilities as a bolt-in acquisition to Ul-tra’s Controls business within Ultra’s Aircraft & Vehicle Systems Division.

Copa Holdings reports net income of $151.4m for first quarter 2014

Copa Holdings reported net income of $151.4m for 1Q14. Excluding special items, Copa Holdings would have reported an ad-justed net income of $153.6m, a 23.5% in-

crease over adjusted net income of $124.4m for 1Q13. Operating income for 1Q14 came in at $177.0m, a 24.1% increase over operat-ing income of $142.6m in 1Q13. Operating margin for the period came in at 24.8%, com-pared to 22.2% in 1Q13, as a result of higher unit revenues and lower unit costs. Total rev-enues increased 11.3% to $713.6m. Yield per passenger mile increased 0.5% to 17.7 cents and operating revenue per available seat mile (RASM) increased 1.9% to 14.2 cents.

Finnair Group reports first quarter results

In the first quarter Finnair’s turnover declined by 8.4% to €543.3m (€593.2m in 2013). The operational result was €-34.2m (€-17.5m in 2013). Net cash flow from operating activi-ties stood at €-20.5m (€-11.5m in 2013), and cash flow from investments totalled €233.6m (€-9.2m in 2013). Unit cost per available seat kilometre excluding fuel, CASK (CASK excl. fuel) decreased by 0.2% from previous year’s level. Unit revenue per available seat kilometre (RASK) fell by 4.0%.

WestJet reports first quarter net earnings of $89m

WestJet released its first quarter results for 2014, with net earnings of $89.3m, compared with the net earnings of $91.1m in the first quarter of 2013. Based on the trailing twelve months, the airline achieved a return on in-vested capital of 13.7%, compared with the 13.9% reported in the previous quarter. These results include pre-tax recoveries of value added taxes of $17.6m associated with fuel costs and $2.5m associated with airport costs incurred from 2009 to 2013.

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BAE Systems completes 150th air-craft set for F35 fighter programme

BAE Systems completed the manufacture of the 150th F-35 rear fuselage and tail set at its military aircraft factory in Samlesbury, Lancashire. The 150th aircraft set, known as AF070, is a Conventional Take Off and Land-ing variant destined for the US Air Force. AF070 will be married up with the rest of the aircraft at Lockheed Martin’s assembly facil-ity in Fort Worth, Texas. Jon Evans, Head of Production Delivery, F-35 at Samlesbury said: “AF070 is the 150th aircraft set to leave our production facility. The first 20 sets were development phase, the rest production air-craft. We are now producing aircraft sets at a rate of one every five days thanks to the multi-million pound investment we made in the Samlesbury site, so we’re well on the way to producing one set a day by 2018.

Triumph Group to provide overhaul services for Boeing Globemaster III

Triumph Group signed a three year con-tract with Boeing to provide overhaul and maintenance services for the auxiliary power units, fan thrust reversers, pitch trim actuators, landing gear manifold and ramp actuators for the United States Air Force fleet of Boeing C-17 Globemaster III aircraft. The work will be performed at sev-eral of the company’s facilities within the Aerospace Systems Group and the After-market Services Group.

• For the month of April, Air Canada reported a record system load factor of 83.3%, versus 82.1% in April 2013, an increase of 1.2 points on a system-wide capacity increase of 7.5%. On this additional ca-pacity, system wide traffic for April increased 9.0%.

• Alaska reported a 4.3% in-crease in traffic on a 4.3% in-crease in capacity compared to April 2013. This resulted in a flat load factor of 86.8%.

• American Airlines Group’s total traffic for the month was up 4.7% versus April 2013, while total capacity was up 3.7% ver-sus April 2013. Total passenger

load factor was 82.9% for the month of April, up 0.7 points versus April 2013.

• In April, Finnair traffic in-creased by 4.2% and the over-all capacity decreased by 0.5% year-on-year. Passenger load factor increased by 3.6 points and was 79.4%.

• Horizon reported April traf-fic and capacity that was simi-lar with April 2013, and the resulting load factor was con-sistent at 78.3%.

• International Airlines Group reported April traffic increase of 18.0% compared to the same period in 2013,

Group capacity for the month was up by 16.6%. Group load factor for April was up 1.3 points to 80.2%.

• Norwegian reported passen-ger traffic increased by 49% in April 2014, while capacity increased by 37% compared to the same period in 2013. The load factor was 79.8% in April, up 6.2 points.

• Ryanair released that April traffic increased 5% compared to the same period in 2013 and the load factor was up 3.0 points to 84%.

• SAS´ traffic for the month of April increased by 13.7%,

while capacity was up by 1.2%, when compared to the same period in 2013. The load fac-tor decreased by 8.6 points to 78.6%.

• UAL’s April 2014 consoli-dated traffic increased 0.6% and consolidated capacity decreased 1.3% versus April 2013. UAL’s April 2014 consoli-dated load factor increased 1.6 points to 83.3% compared to April 2013.

• WestJet announced April 2014 traffic results with a load factor of 82.3%. Traffic in-creased 6.5% year-over-year and capacity grew 7.1% over the same period.

• AerData, the provider of software and services for the aviation industry released that Amur Finance Company (AFC), a privately held, diversified commercial finance company focusing on the global transportation, industrial and equipment leasing sec-tors, chose AerData’s CMS (Corporate Management System) and STREAM (Secure Technical Records for Electronic Asset Management) software.

• Xiamen Airlines selected Boeing’s Airplane Health Management (AHM) sys-tem to enhance efficiency in its maintenance and engineering operations. The agree-ment includes implementation of AHM for the current Xiamen Airlines fleet of 94 Next-Generation 737s and six 787 Dreamliners on order. Xiamen Airlines will use AHM to collect and evaluate airplane operations data while the airplane is in flight. This real-time data is used to signal ground operations crews of any potential main-tenance issues before the airplane lands, minimizing flight schedule disruptions and maintenance-related delays.

INFORMATION TECHNOLOGYMILITARY & DEFENSE

PASSENGER TRAFFIC STATISTICS - APRIL

May 12, 2014 / Vol. 438

• Gogo, a leading communications service provider to the global aviation industry, received an STC from the FAA and certification from the Japanese Civil Aviation Bureau (JCAB) – the aviation authority in Japan – to install its Ku-satellite based connectivity service on Japan Airlines’ 777-300 aircraft. The 777-300 is the second aircraft type in JAL’s fleet to receive FAA and JCAB approval for installation. Gogo has partnered with JAL to install connectivity service and Gogo Vision – Gogo’s wireless in-flight entertainment service – on JAL’s domestic fleet, and the certifi-cation is a key milestone in the installation process.

IFEs & CONNECTIVITY

AirTeamImages

• Spirit AeroSystems added aircraft industry veteran William (Bill) Brown to its senior leadership team as senior vice president, Aftermarket. Brown most recently served as executive vice president, Global Operations and president of Global Cus-tomer Service and Support at Beechcraft. Prior to joining Beechcraft, Brown also served as president and general manager of AAR Aircraft Services in Oklahoma, and held senior-level positions with Independence Air, Avborne, and Midwest Airlines.

AviTrader WEEKLY AVIATION HEADLINES

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ILA Berlin Air Show Berlin ExpoCenter Airport, Berlin, Germany, 20-25 May, 2014. (Event brochure)

MRO Eastern Europe, Baltics and RussiaSheraton Warsaw, Warsaw, Poland, 10-11 June, 2014. (Event brochure)

Aircraft Economic Life SummitMaritim Hotel, Frankfurt, Germany, 12 June, 2014. (Event brochure)

Farnborough International AirshowFarnborough, UK, 14-20 July, 2014. (Event brochure)

Aircraft Lifecycle - New PerspectivesHotel 10, Montreal, Canada, 30 Sept-1 Oct, 2014. (Event brochure)

Click here for more aviation events

Recommended Events

9

May 12, 2014 / Vol. 438

AJW Aviation signed a three year agree-ment with Atitech, one of Europe’s largest MROs based in Naples, Italy, for the provi-sion of integrated consumables manage-ment services. This will utilise the new inno-vative barcode scanning App that AJW has developed and deliver support for Atitech’s growing customer base across the Airbus and Boeing aircraft families.

Hawaiian Airlines and Lufthansa Tech-nik AG recently signed a contract for en-gine wash services. The cooperation com-prises engine wash services for Hawaiian’s Airbus A330 Fleet with Rolls-Royce Trent 700 engines at Los Angeles (LAX) and San Francisco (SFO). The engine cleaning frees the engines, in particular the fan and com-pressor blades, from dirt such as sand, mud, dust and pollen. Once cleaned, the engines are more thermally efficient in operation and use less kerosene for the same level of performance. This reduces costs and is bet-ter for the environment.

Baltic Aviation Academy, the Central Europe aviation training centre, signed a successful contract with Pakistan Inter-national Airlines (PIA). The one year contract includes Airbus A320 type rating training, as well as Boeing 737 CL and ATR 72 full flight simulator dry leases which will be executed at Baltic Aviation Academy training centre in Vilnius, Lithuania. Af-ter a year of intensive negotiations, both parties have agreed on the contract terms and conditions and at the end of March, the first group from Pakistan International Airlines has already started the type rat-ing training course. Pakistan International Airlines is the national flag carrier and the largest Pakistan airline which operates 24 domestic and 38 international destinations which span across the world’s major airport hubs in four continents. Company’s fleet consists of 38 aircraft that include Airbus A310, A320, Boeing 737, 747, 777, and ATR 42. PIA will be adding additional 11 Airbus A320 aircraft in October of 2014.

INDUSTRY PEOPLE

Chromalloy reported that the six labora-tories at the company’s Engineering Center of Excellence have received ISO/IEC 17025 accreditation, validating international standards requirements for testing services. “With ISO/IEC 17025 accreditation Chro-malloy builds on our world-class processes with the technical competence and ability to produce precise and accurate test data for customers around the globe,” said Car-lo Luzzatto, President. “Chromalloy pro-vides the entire value chain of services for gas turbine components, from engineering and testing through casting, machining and advanced coatings.” The following Chromalloy labs were accredited to ISO/IEC 17025 by the ANSI-ASQ National Accredi-tation Board/ACLASS: Metallurgy, Modal, Fatigue, Airflow, Metrology and Optical Metrology. ISO/IEC 17025 accreditation required evaluation by ACLASS technical assessors of the laboratories’ ability to pro-duce accurate test data.

OTHER NEWS

THEAIRCRAFTANDENGINEMARKETPLACE Page 1 of 4

Aircraft Type Company Engine MSN Year Available Sale / Lease Contact Email Phone

A319-112 Doric CFM56-5B6/3 3589 2008 Mar 2015 Sale / Lease Maurick Groeneveld maurick.groeneveld@doric.com +49.69.24755942

A319-112 Doric CFM56-5B6/3 3818 2009 Mar 2015 Sale / Lease Maurick Groeneveld maurick.groeneveld@doric.com +49.69.24755942

A319-133 Amentum Capital V2527M-A5 3705 2008 Nov 2014 Lease Noel Healy marketing@amentum-capital.com +353 1 639 8111

A320-200 ORIX Aviation V2527-A5 1661 2002 Q1/2015 Lease Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

A320-200 ORIX Aviation CFM56-5A1 378 1993 Q1/2015 Sale Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

A320-200 ORIX Aviation CFM56-5B6/3 3831 2009 Q2/2015 Lease Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

Commercial Jet Aircraft

May 12, 2014

A320-200 Amentum Capital V2527E-A5 3624 2008 Oct 2014 Lease Noel Healy marketing@amentum-capital.com +353 1 639 8111

(2) A320-211 PSG Turbines LLC Now Sale Karl Drusch kdrusch@psgjets.com +1-817-296-2705

A330-200 Amentum Capital PW4168A 970 2008 Q1/2015 Lease Noel Healy marketing@amentum-capital.com +353 1 639 8111

A330-200 Amentum Capital PW4168A 979 2009 Q1/2015 Lease Noel Healy marketing@amentum-capital.com +353 1 639 8111

B737-300 AerSale 23440 1986 Now Sale / Lease Bill Kmiotek Bill.Kmiotek@aersale.com +1 676 379 5042

B737-300 AerSale 23441 1986 Now Sale / Lease Bill Kmiotek Bill.Kmiotek@aersale.com +1 676 379 5042

B737-300 World Star Aviation Services CFM56-3C1 28738 1998 Now Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

B737-300 World Star Aviation Services CFM56-3C1 28872 1998 Jul 2014 Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

B737-300 World Star Aviation Services CFM56-3B2 24208 1998 Now Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456@

B737-300 World Star Aviation Services CFM56-3C1 28573 1998 Now Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

B737-300 ORIX Aviation CFM56-3C1 24910 1991 Jun 2014 Sale Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

B737-300 Phoenix Aer Capital CFM56-3 24532 Now Sale Bob Gallagher r.gallagher@aircraftsystemsgroup.com +1 727-376-0292

B737-300 Phoenix Aer Capital CFM56-3 24666 Now Sale Bob Gallagher r.gallagher@aircraftsystemsgroup.com +1 727-376-0292

B737-400 World Star Aviation Services CFM56-3C1 24706 1991 Now Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

B737-400 World Star Aviation Services CFM56-3C1 26290 1993 Now Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

B737-400 AerSale CFM56-3C1 25417 1991 Now Sale / Lease Craig Wright craig.wright@aersale.com +1 (305) 764 3238

B737-400 AerSale CFM56-3C1 25313 1991 Now Sale / Lease Bill Kmiotek Bill.Kmiotek@aersale.com +1 676 379 5042

B737-400 AerSale CFM56-3C1 25314 1991 Now Sale / Lease Shane O'Connell Shane.OConnell@aersale.com +353 87 063 82433 00 e Sa e C 56 3C 53 99 o Sa e / ease S a e O Co e Shane.OConnell@aersale.com 353 8 063 8 3

B737-400 Safair Operations Combi 26961 C. Schoonderwoerd corneliss@safair.co.za +27 11 928 0000

B737-400 Safair Operations Pax C. Schoonderwoerd corneliss@safair.co.za +27 11 928 0000

B737-500 AerSale CFM56-3C1 27424 1996 Now Sale / Lease Craig Wright craig.wright@aersale.com +1 (305) 764 3238

B737-500 World Star Aviation Services CFM56-3B1 26297 1994 Now Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

B737-800 ORIX Aviation CFM56-7B26 35090 2006 Q4/2015 Lease Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

B737-800 ORIX Aviation CFM56-7B24 34181 2006 Q1/2015 Lease Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

B737-800 ORIX Aviation CFM56-7B26 35072 2007 Q2/2015 Lease Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

B737-800 ORIX Aviation CFM56-7B24 34180 2005 Q4/2014 Lease Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

B737-800 Miami Air CFM56-7B26 34596 2006 Nov 2014 Sale Ben Gay bfgav@aol.com +1 305-255-3930

Now ACMI/Wet lease/Sale

Now 2013 ACMI/Wet lease

B737 800 Miami Air CFM56 7B26 34596 2006 Nov 2014 Sale Ben Gay bfgav@aol.com +1 305 255 3930

B747-400 GA Telesis PW4056 28754 1998 Now Sale / Lease Stefanie Jung sjung@gatelesis.com +1 954-958-1321

B747-400 AerSale CF6-80C2B1F 26342 1992 Now Sale / Lease Bill Kmiotek Bill.Kmiotek@aersale.com +1 676 379 5042

B747-400ERF Amentum Capital CF6-80C2B5F 37303 2009 Jul 2014 Sale / Lease Noel Healy marketing@amentum-capital.com +353 1 639 8111

B757-200 World Star Aviation Services RB211-535-E4 24544 1990 Now Sale / Lease Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

B757-200 GA Telesis RB211-535E4 24491 1990 Now Sale / Lease Stefanie Jung sjung@gatelesis.com +1 954-958-1321

B757-200 GA Telesis RB211-535E4 24577 1990 Now Sale / Lease Stefanie Jung sjung@gatelesis.com +1 954-958-1321

B757-223 Jet Midwest Inc. RB211-535E4 Now Sale / Lease Kevin Lee / Cathy Liu cathy.liu@jetmidwest.com +1 310 652 0296

B757-200PCF AerSale 535E4-37/B 23767 1987 Oct 2014 Sale / Lease Craig Wright craig.wright@aersale.com +1 (305) 764 3238

B767-200ER GA Telesis CF6-80A 22329 1987 Now Sale / Lease Stefanie Jung sjung@gatelesis.com +1 954-958-1321B767-200ER GA Telesis CF6-80A 22329 1987 Now Sale / Lease Stefanie Jung sjung@gatelesis.com +1 954-958-1321

B767-200ER GA Telesis CF6-80A 22324 1986 Now Sale / Lease Stefanie Jung sjung@gatelesis.com +1 954-958-1321

B767-200ER GA Telesis CF6-80A 22328 1986 Now Sale / Lease Stefanie Jung sjung@gatelesis.com +1 954-958-1321

B767-222 Jet Asia Aiways Co. Ltd. JT9D-7R4D 21868 Now ACMI, Wet L. Kevin Lee klee@flyjetasia.com +1 310 944 0327

B767-246 Jet Asia Aiways Co. Ltd. JT9D-7R4D 23214 Now ACMI, Wet L. Kevin Lee klee@flyjetasia.com +1 310 944 0327

B767-300ER ORIX Aviation PW4060 25285 Q1/2015 Lease Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

DC10-30F Bristol Associates CF6-50C2 47925 1974 Now Sale Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

DC10-30F Bristol Associates CF6-50C2 47929 1975 Now Sale Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

L100-30 Safair Operations 501-D22 C. Schoonderwoerd corneliss@safair.co.za +27 11 928 0000

MD83 Jet Midwest Inc JT8D-219 53252 1991 Now Sale / Lease Kevin Lee / Cathy Liu cathy liu@jetmidwest com +1 310 652 0296

Now - Wet Lease / ACMI

MD83 Jet Midwest Inc. JT8D-219 53252 1991 Now Sale / Lease Kevin Lee / Cathy Liu cathy.liu@jetmidwest.com +1 310 652 0296

MD90-30 AerSale V2528-D5 53496 1998 Now Sale / Lease Craig Wright craig.wright@aersale.com +1 (305) 764 3238

May 12, 2014

www.gatelesis.com

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

B737‐800W For Sale      Miami Air InternationalMSN 34596 Reg N740EH  DOM 2006

Available Nov 2014   TT=4,400H  High Spec

Contact:  Ben Gay,  +1 305‐255‐3930, bfgav@aol.com

THEAIRCRAFTANDENGINEMARKETPLACE Page 2 of 4

Aircraft Type Company Engine MSN Year Available Sale / Lease Contact Email PhoneCRJ702ER Amentum Capital CF34-8 10217 2005 Oct 2014 Lease Noel Healy marketing@amentum-capital.com +353 1 639 8111

EMB-120QC Jet Midwest Inc. PW118 120264 1992 Now Sale / Lease Kevin Lee / Cathy Liu cathy.liu@jetmidwest.com +1 310 652 0296

ERJ-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 145332 2000 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ 135LR Bristol Associates 145334 2000 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates com +1 202 682 4000

Regional Jet / Turboprop Aircraft

May 12, 2014

ERJ-135LR Bristol Associates 145334 2000 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-135LR Bristol Associates 145323 2000 Now Sale / Lease Ed McNair / Pete Seidlitz bristol@bristolassociates.com +1 202-682-4000

ERJ-145ER GA Telesis 145045 1998 Now Sale / Lease Harris Koutounidis hkoutounidis@gatelesis.com +1-954-676-3111

Contact Email Phone

Sherry Riley engine.leasing@gecas.com +1(513)782-4272

(2) AE3007A1 Now - Sale / Lease Engine Lease Finance Ciaran McGlynn ciaran.mcglynn@elfc.com +353 61 291729

Company

GECAS Engine LeasingNow - Sale / Lease

Commerical Engines

AE3007 Engines

Sale / LeaseEngine Type

Multiple Engines GE / CFM / RB211

(2) AE3007A1 Now Sale / Lease Engine Lease Finance Ciaran McGlynn ciaran.mcglynn@elfc.com +353 61 291729

(2) AE3007A1 Now - Sale / Lease Bill Polyi / Ray Marquess ray.marquess@magellangroup.net +1 (704) 504-9204

(1) CF34-8E5 Now - Lease Lufthansa Technik AERO Alzey Kai Ebach k.ebach@lhaero.com +49-6731-497-368

(2) CF34-10E5

(3) CF34-3B Now - Sale GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

(2) CF34-3A1/3B1 Now - Sale / Lease Bill Polyi / Ray Marquess ray.marquess@magellangroup.net +1 (704) 504-9204

(1) CF34-3B1 Now - Sale/Lease/Exch. David Desaulniers ddesaulniers@willislease.com +1 415 516 4837

(1) CF34-8E5A1 Now - Lease AeroCentury Frank Pegueros frank.pegueros@aerocentury.com +1 650 340 1888

Sherry Riley engine.leasing@gecas.com +1 (513) 782-4272

Willis Lease

Now - Sale / Lease

CF34 Engines

GECAS Engine LeasingCF34-8E(s)

Magellan Aviation Group

Magellan Aviation Group

(1) CF6-80C2A5 Apollo Aviation Group Erik Castillo erikc@apollo.aero +1 (305) 579-2340

(4) CF6-80C2A2 Now - Sale/Lease/Exch.

(2) CF6-80C2B4

(1) CF6-80C2B1F Now - Sale/Lease/Exch.

(1) CF6-80C2B1F May 14 - Sale/Lease/Exch.

(1) CF6-50C2 Now - Sale / Lease Konrad J Walter konrad@TakingAviationForward.com +1 954-445-8127

(1) CF6-50 Now - Sale Phoenix Aer Capital Bob Gallagher r.gallagher@aircraftsystemsgroup.com +1 727-376-0292

(1) CF6-80C2B4F Now - Lease Ann Lee alee@willislease.com +1 (415) 408 4769Willis Lease

Mar 14 - Sale/Lease/Exch.

Taking Aviation Forward, LLC

Now - Sale/Lease/Exch.

CF6 Engines

CF6-50E2 (multiple) Now - Sale / Lease Commercial Aircraft Services Brian Cooper brian@casi.aero +1 208-899-1915

(1) CF6-80C2B1F Now - Sale / Lease AerSale. Inc. Matthew White matthew.white@aersale.com +353 1475 3005

(2) CF6-80C2B6F Now - Sale / Lease

(1) CF6-80C2B7F Now - Sale / Lease

(2) CF6-80C2BXF Now - Sale/Lease/Exch. TES Aviation Group Lee Whitehurst lee.whitehurst@tes-uk.com + 44 (0) 7760884250

(1) CF6-80C2B1F Now - Sale / Lease Fortress Investment Group Thomas Garbaccio Aviation@fortress.com +1 212-497-2917

(1) CF6-80C2B6F Now - Sale / Lease

(1) CF6-80C2B7F Now - Sale / Lease

(2) CF6-80C2B1F AeroTurbine Sean Thomas sthomas@aeroturbine.com +1 786 925 8517

(1) CF6-80C2B1F Now - Lease

Now - Sale / Exchange

(1) CF6 80C2B1F Now Lease

(1) CF6-80C2B4 Now - Sale / Lease GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

(1) CF6-80C2A2 Now - Sale / Lease

(1) CF6-80C2B1F Now - Lease Engine Lease Finance Joe Hussar joseph.hussar@elfc.com +1 (617)828-3569

CFM56-3C1 (OH) Now - Sale / Lease TrueAero, LLC Brent Corrie bcorrie@trueaero.com +1 561-310-3242

CFM56-3C1 (SV) Now - Sale / Lease

(1) CFM56-7B24 Now - Lease Engine Lease Finance Joe Hussar joseph.hussar@elfc.com +1 617 828-3569

(1) CFM56-5A3 Now - Lease

(1) CFM56-5A3 Now - Sale / Lease World Star Aviation Services Sean O Connor Soconnor@worldstaraviation.com +1 415-956-9456

(1) CFM56 3B1 N S l / L

CFM56 Engines

(1) CFM56-3B1 Now - Sale / Lease

(1) CFM56-3C1 Now - Sale / Lease

May 12, 2014

GECASEngine Leasing

SEARCH

Search or sell withStockMarket.aero

Supporting the world’s airlinesCorporation www.ses.ie

THEAIRCRAFTANDENGINEMARKETPLACE Page 3 of 4

Contact Email Phone

(2) CFM56-3C1 Now - Sale / Lease Frank Rustmeier frank@royalaero.com +49 (0)8025 99360

(1) CFM56-5A3 Now - Sale / Lease

(2) CFM56-5B4P Now - Sale / Lease

(1) CFM56-5C4 Now - Sale / Lease

(1) CFM56-5C4/P Now - Sale/Lease/Exch. AerFin Auvinash Narayen Auvinash.narayen@aerfin.com +44 77 66 384 581

(1) CFM56 3C1 Now Sale / Lease IAI Alex Marom amarom@iai co il +972 52 3663412

Sale / Lease Company

Commerical Engines (cont.)Engine Type

CFM56 Engines

Royal Aero

May 12, 2014

(1) CFM56-3C1 Now - Sale / Lease IAI Alex Marom amarom@iai.co.il +972-52-3663412

(1) CFM56-3C1 Now - Sale Mike Visconti mike@avvenireservices.comn +1 305 753-6106

(1) CFM56-3B2 Now - Sale / Lease Fortress Investment Group Thomas Garbaccio Aviation@fortress.com +1 212-497-2917

(1) CFM56-3C1 Now - Sale / Lease

(1) CFM56-7B27/3B1F Now - Sale/Lease/Exch. AerSale. Inc. Matthew White matthew.white@aersale.com +353 1475 3005

(1) CFM56-3B1 Now - Lease

(1) CFM56-3C1 Now - Lease

(3) CFM56-5C4 Now - Sale / Lease Bill Polyi bill.polyi@magellangroup.net +1 (704) 504-9204

(4) CFM56-3B1/C1 Now - Sale / Lease Tom Leimkuhler tom.leimkuhler@magellangroup.net +1 (704) 504-9204

(6) CFM56-3C1 Now - Sale/Lease/Exch. Lufthansa Technik Airmotive Irel. Alan Phelan engines@ltai.ie +353-87-2786738

(1) CFM56-3B2 Now - Sale/Lease/Exch.

Magellan Aviation Group

(1) CFM56 3B2 Now Sale/Lease/Exch.

(1) CFM56-5B4/P Now - Lease Castlelake Rich Gauvin rich.gauvin@castlelake.com +1 612 851 3022

(1) CFM56-7B Now - Lease

(2) CFM56-3B2 Now - Sale / Lease GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

(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.

Ivan Graydon marketing@ses.ie + 353 61 70 6463

CFM56-5B(s)

Ann Lee alee@willislease.com +1 (415) 408 4769

Now - Sale/Lease/Exch.

CFM56-7B(s)

Now - Sale/Lease/Exch.

Now - Lease

CFM56-3(s) Now - Sale/Lease/Exch.

Now - Sale/Lease/Exch.

CFM56-5A(s)

SES

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

(1) CFM56-5B4/3 Now - Lease

(1) CFM56-5B4/P Now - Lease

(2) CFM56-5C4/P Now - Lease

(3) CFM56-3B2 Now - Sale / Exchange AeroTurbine Sean Thomas sthomas@aeroturbine.com +1 786 925 8517

(1) CFM56-3C1 Now - Sale / Exchange

(1) CFM56-5B4 Now - Sale / Exchange

(1) CFM56-5C3/G Now - Sale / Exchange

(2) CFM56-5C4 Now - Sale / Exchange

(1) CFM56-3B1 Now - Lease

(1) CFM56 5A1 Now Lease

Now - Lease(2) CFM56-7B24/3

(1) CFM56-5A1 Now - Lease

(2) CFM56-5B4/3 Now - Lease

(5) CFM56-3C1 Now - Lease

(1) CFM56-5C4 Mar 14 - Sale/Lease/Exch. Apollo Aviation Group Erik Castillo erikc@apollo.aero +1 (305) 579-2340

(1) CFM56-7B20/2 Now - Sale/Lease/Exch.

(2) CFM56-3B2 Now - Sale/Lease/Exch.

(3) CFM56-5C3/F Now - Sale/Lease/Exch.

(3) CFM56-3B2 Now - Sale / Lease ORIX Aviation Dave Houlihan dave.houlihan@orix.ie +353 872 458 418

(1) CFM56-3B1 Now - Sale/Lease/Exch. TES Aviation Group Lee Whitehurst lee.whitehurst@tes-uk.com + 44 (0) 7760884250

Now - Sale/Lease/Exch PSG Turbines LLC Karl Drusch kdrusch@psgjets.com +1-817-296-2705

Now - Sale/Lease/Exch(4) CFM56-5A1/F

(1) CFM56-3C1

Now Sale/Lease/Exch

Sherry Riley engine.leasing@gecas.com +1(513)782-4272

(1) JT8D-219 Now - Sale/Lease/Exch PSG Turbines LLC Karl Drusch kdrusch@psgjets.com +1-817-296-2705

(1) JT8D-217C/219 Now - Sale / Lease Azure Resources Jeff Young jeff@azureres.com +1-954-249-7935

(7) JT8D-200 Now - Sale GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

Now - Sale / Lease Jet Midwest Kevin Lee / Cathy Liu cathy.liu@jetmidwest.com +1 310 652 0296

(2) JT9D-7R4D/E Now - Sale Aero Controls John Titus jtitus@aerocontrols.com +1 253 269-3000

Now - Sale / Lease Jet Midwest Kevin Lee / Cathy Liu cathy.liu@jetmidwest.com +1 310 652 0296

(34) JT9D 7R4D Now Sale / Lease

(4) CFM56 5A1/F

(1) JT8D-219 or -217

Now - Sale(2) CFM56-5A

(1) JT9D-7R4D overhauled

JT8D Engines

GECAS Engine Leasing

JT9D Engines

(34) JT9D-7R4D Now - Sale / Lease

Bill Polyi bill.polyi@magellangroup.net +1 (704) 504-9204

PW127E/F/M and PW150A Ray Marquess ray.marquess@magellangroup.net +1 (704) 504-9204

PW Small EnginesNow - Sale / LeasePW121, PW123, PW124B, PW125B, Magellan Aviation Group

May 12, 2014

THEAIRCRAFTANDENGINEMARKETPLACE Page 4 of 4

Contact Email Phone

PW100s (all models) Now - Sale / Lease Lufthansa Technik AERO Alzey Kai Ebach k.ebach@lhaero.com +49-6731-497-368

(5) PW150A (also Pooling available) Now - Lease

(1) PW150A Now - Sale GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

(3) PW121 (ATR) Now - Sale/Lease/Exch. David Desaulniers ddesaulniers@willislease.com +1 415 516 4837(2) PW121-8 Now - Sale/Lease/Exch.

(1) PW123 Now - Sale/Lease/Exch.

(1) PW127 Now - Sale/Lease/Exch.

Commerical Engines (cont.)Engine Type Sale / Lease Company

PW Small Engines

Willis Lease

May 12, 2014

(1) PW127M Now - Sale/Lease/Exch.

(2) PW127F Now - Sale/Lease/Exch.

(2) PW124B Now - Sale/Lease/Exch.

(1) PW150A Now - Sale/Lease/Exch.

(1) PW121 Now - Sale / Lease Royal Aero Frank Rustmeier frank@royalaero.com +49 (0)8025 99360

(1) PW2037 Now - Sale / Lease Fortress Investment Group Thomas Garbaccio Aviation@fortress.com +1 212-497-2917

(1) PW2040 Now - Sale / Lease

(2) PW2037M Now - Sale Aerolease Tim Corley tcorley@aerolease.com +1 360 8709172

(1) PW2040 Now - Sale / Lease GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

(1) PW2037 Now Sale / Exchange AeroTurbine Sean Thomas sthomas@aeroturbine com +1 786 925 8517

PW2000 Engines

(1) PW2037 Now - Sale / Exchange AeroTurbine Sean Thomas sthomas@aeroturbine.com +1 786 925 8517

(3) PW4056-1 Now - Sale/Lease/Exch. GA Telesis Eddo Weijer eweijer@gatelesis.com +1-954-676-3111

(1) PW4060C-1C Now - Lease IAI Michal Bulvik mbulvik@iai.co.il +972-3-9353612

(4) PW4056/60/62 Now - Sale / Lease Bill Polyi / T. Leimkuhler tom.leimkuhler@magellangroup.net +1 (704) 504-9204

(1) PW4060-3 Dec 14 - Sale / Lease Royal Aero Frank Rustmeier frank@royalaero.com +49 (0)8025 99360

(1) PW4056-3 Now - Sale / Lease Fortress Investment Group Thomas Garbaccio Aviation@fortress.com +1 212-497-2917

(1) PW4060-3 Now - Sale / Lease

(1) PW4056-1C Now - Lease AeroTurbine Sean Thomas sthomas@aeroturbine.com +1 786 925 8517

(1) PW4056-3 Now - Lease

(1) PW4056-1 Now - Lease

Magellan Aviation Group

PW4000 Engines

(2) PW4060-1 Now - Lease

(1) PW4060-1 CN Now - Lease

(1) PW4060-3 Now - Sale / Exchange

(1) PW4056-3 Now - Sale / Lease AerSale. Inc. Matthew White matthew.white@aersale.com +353 1475 3005

(1) PW4056-1C Now - Sale/Lease/Exch.

(1) PW4056-1 Now - Sale/Lease/Exch.

(1) PW4062-3 Now - Sale / Lease

(2) PW4168A Now - Sale/Lease/Exch. TES Aviation Group Lee Whitehurst lee.whitehurst@tes-uk.com + 44 (0) 7760 884250

(1) PW4062 Now - Lease Willis Lease Ann Lee alee@willislease.com +1 (415) 408 4769

(1) PW4060 Now - Lease

(2) PW4168A Now - Lease( )

(1) PW4168A Now - Sale / Lease Engine Lease Finance Joe Hussar joseph.hussar@elfc.com +1 (617)828-3569

(1) RB211-535E4 Now - Sale/Lease Rolls-Royce & Partners Finance Bobby Janagan bobby.janagan@rolls-royce.com +44 20 7227 9078

(2) RB211-535E4 Now - Sale Aerolease Tim Corley tcorley@aerolease.com +1 360 8709172

(1) RB211-535E4B Now - Sale / Lease GA Telesis Stefanie Jung sjung@gatelesis.com +1 954-958-1321

(1) RB211-535E4 Now - Sale / Lease Fortress Investment Group Thomas Garbaccio Aviation@fortress.com +1 212-497-2917

(1) RB211-535E4 /12B Now - Sale/Lease/Exch. TES Aviation Group Lee Whitehurst lee.whitehurst@tes-uk.com + 44 (0) 7760 884250

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

(1) Trent 884-17 Now - Sale/Lease/Exch. Apollo Aviation Group Erik Castillo erikc@apollo.aero +1 (305) 579-2340

RB211 Engines

Trent Engines

Tay Engines(multiple) Tay 650-15 Now - Sale / Lease Jet Midwest Kevin Lee / Cathy Liu cathy.liu@jetmidwest.com +1 310 652 0296

(1) V2527-A5 Now - Lease Willis Lease Ann Lee alee@willislease.com +1 (415) 408 4769

(1) V2533-A5 Now - Lease

(1) V2533-A5 Now - Sale/Lease/Exch. Werner Aero Services Cliff Topham ctopham@werneraero.com +1-703-402-7430

(1) V2527-A5 Now - Sale / Exchange AeroTurbine Sean Thomas sthomas@aeroturbine.com +1 786 925 8517

(1) V2527-A5 Now - Lease Engine Lease Finance Joe Hussar joseph.hussar@elfc.com +1 617 828-3569

(1) V2533-A5 Now - Sale / Lease

(1) V2533-A5 w/QEC Now - Lease Rolls-Royce & Partners Finance Bobby Janagan bobby.janagan@rolls-royce.com +44 20 7227 9078

(1) V2527-A5 w/QEC Now - Lease

Tay Engines

V2500 Engines

Description Contact Email PhoneQEC for CFM56-5A1 Now - Sale TrueAero, LLC Raul Miro/Dave Walters sales@trueaero.com +1 772-925-8026A320 Fresh Part-out Now - Sale737-500 Fresh Part-out Now - Sale

Now - Sale Willis Lease Ann Lee alee@willislease.com +1 (415) 408 4769Now - Lease Willis Lease Ann Lee alee@willislease.com +1 (415) 408 4769Now - Sale / Lease Jet Midwest Kevin Lee / Cathy Liu cathy.liu@jetmidwest.com +1 310 652 0296Now - Sale/Lease/Exch. PSG Turbines, LLC. Karl Drusch kdrusch@psgjets.com +1-817-296-2705Now - Sale / Lease Werner Aero Services Christopher Farrell cfarrell@werneraero.com +1 201-661-6819Now - Sale Tradewinds Engine Serv. Brad Pleimann bpleimann@tesllc.aero +1 954 421 2510

APU GTCP 131-9B, GTCP 331-500BNEW QEC for V2500

APU 3800298-1-2 (B767)

Company

CFM56-7B Evol. LPT mod. Ass. 338-092-319-0 Now - Sale

(4) APU GTCP36-300A

Aircraft and Engine Parts, Components and Misc. Equipment

1 V2500 QEC kit, p/n 745k9001-46 GTCP131-9A (P/N 3800708-1)

Reliance Aircraft Terry Hix thix@relianceaircraft.com +1 512-439-6988(1) PW901A Now - Lease LHT AERO Alzey Kai Ebach k.ebach@lhaero.com +49-6731-497-368GTCP131-9B, PW901, (2) GTCP36-300, Now - Sale/Lease/Exch. Aeroturbine Rodney Lee ralee@aeroturbine.com +1 972-813-1176GTCP131-9A, (2) RE220RJ, GTCP331-350C, APS3200

737-800 NOSE LANDING GEAR PN 162A1100-5, OH - Now SaleCFM56-7B and -5B engine stands for lease Now – Lease

May 12, 2014