TrueNoord closes purchase of two Embraer aircrafts from GECAS

TrueNoord, the regional aircraft lessor, has closed the purchase of two Embraer E190 aircraft from GECAS.  These aircraft are under lease with and operated by Mandarin Airlines. This pair of aircraft increases TrueNoord’s Embraer fleet under lease to seventeen globally operated E190s.  The purchase was partially financed under a finance facility by BNP Paribas and DVB Bank. Pillsbury and Stek acted as legal advisers for TrueNoord throughout the transaction.

Mandarin Airlines is based in Taipei, Taiwan and operates domestic and regional international flights.  It introduced the Embraer E190 to its fleet in June 2007 and currently operates six E190s on domestic, cross-strait and international routes delivering state of the art services to their customers with modern flight systems, cabin comfort and space, and a quiet flight experience.

“Providing aircraft for a regional carrier in East Asia is an exciting step for TrueNoord and we are proud to support Mandarin Airlines, a fully owned subsidiary of China Airlines” says Anne-Bart Tieleman, CEO – TrueNoord. “We see a multiplicity of opportunities with existing operators, new airlines and new lessees across the East Asia region.  We understand the complex geographies that need air transport to deliver economic growth and community connections. We will continue to build our portfolio of aircraft to service operators, like Mandarin Airlines. The provision of regional aircraft is TrueNoord’s sole specialism.”

TrueNoord’s strategy is to acquire relatively young aircraft with long remaining leases operated by quality operators - a specialist approach that is fully endorsed by its leading investors: BlackRock, Aberdeen Asset Management and Bregal Freshstream.

Textron completes sales of tools and test businesses to Emerson

Textron recently announced that it has completed the sale of its Tools & Test businesses and brands to Emerson, a global technology and engineering company, for approximately $810 million in cash. Included in the sale were all the Textron Tools & Test businesses and brands – Greenlee, Greenlee Communications, Greenlee Utility, HD Electric, Klauke, Sherman+Reilly, and Endura. Proceeds from the sale are expected to be used to fund additional share repurchases to offset the earnings impact related to the sale.

 

HH Sheikh Ahmed Bin Saeed Al Maktoum

President, Dubai Civil Aviation Authority; Chairman, Dubai Airports

Chairman and Chief Executive, Emirates Airline & Group

 

Over the past 32 years, HH Sheikh Ahmed Bin Saeed Al Maktoum has been at the forefront of Dubai’s remarkable economic development spearheading the successful expansion of aviation, which now supports 28 percent of Dubai’s GDP, and more recently, formulating economic, investment and fiscal policies and strategies in support of the emirate’s overarching vision.

Sheikh Ahmed embarked on his career in the aviation industry in 1985 when he was appointed President of the Dubai Department of Civil Aviation (DCA) – the governing body that oversaw the activities of Dubai International and Dubai Duty Free, among others. In the same year Emirates Airline –Dubai’s international carrier was launched with Sheikh Ahmed as its Chairman. He is now the Chairman and Chief Executive of Emirates Airline & Group, which includes dnata – the region’s leading travel services and ground handling company, and other aviation related entities. Under Sheikh Ahmed’s leadership, the DCA underwent an organizational restructuring in April 2007 resulting in the creation of the Dubai Civil Aviation Authority (DCAA) as the local regulatory body, and Dubai Airports as the owner and operator of Dubai’s airports–Dubai International and Dubai World Central.Following the restructuring, Sheikh Ahmed became the President of DCAA and Chairman of Dubai Airports.

Read more...

H.E. Mohammed Abdulla Ahli

Director-General - Dubai Civil Aviation Authority

CEO - Dubai Air Navigation Services

H.E. Mohammed Abdulla Ahli began his aviation career in 1966 with dnata (Dubai National Air Travel Agency) and held several key positions leading to the position of Director, Ground Services, according to his official public profile.

In 1982, he moved to the Department of Civil Aviation,presently the Dubai Civil Aviation Authority, as Operations Director, responsible for all Airport Operations and International Affairs. He represented the Federal Government at several high level ICAO meetings, and played a key role in the establishment of the Airspace for the United Arab Emirates.

A popular figure in international circles and an expert negotiator, Mr. Ahli is widely credited for being instrumental in bringing more airlines to Dubai and steering the emirate's aviation industry in the right direction through the years. He is also touted as among the pioneers who convinced the leaders to establish Emirates Airline, now a global leader in the aviation industry.

 

Read more...