AviTrader WEEKLY AVIATION HEADLINES

ISSN 1718-7966 MAY 1, 2006 / VOL. 44 

AviTrader WEEKLY AVIATION HEADLINES 

AviTrader 

Read by thousands of aviation executives and technical decision makers every week www.avitrader.com 

FIRST THREE 787-DREAMLINER PRODUCTION YEARS SOLD OUT 

Two years ago Boeing’s board of directors approved the formal launch of the 

Dreamliner, at that time still called 7E7. The launch was announced after All 

Nippon Airways placed a firm order for 50 Dreamliners. The ANA order was the 

largest launch order in history for a new Boeing commercial jet. The Dreamliner 

outpaced all previous aircraft launches including the 747, 777 and even the Next- 

Generation 737. 

To date, 29 customers have made orders or commitments for 393 airplanes. 

Boeing has firm orders for 350 aircraft from 26 customers, an order backlog of 

roughly $51 billion at current list prices. The first three years of production are sold 

out. Boeing also has active proposals in the hands of 30 customers for an 

additional 500 airplanes. 

(see page 2 for 787 order details) 

COVER PAGE & COVER STORIES 

AIRBUS A380 TO MAKE ITS BRITISH 

DEBUT AT LONDON HEATHROW 

The 555 seat Airbus A380, will make its British debut 

when it flies into London's Heathrow Airport on 18th 

May 2006, to carry out airport compatibility checks in 

conjunction with airport operator British Airports 

Authority (BAA). London Heathrow is likely to be the 

A380's first European destination when it enters 

scheduled service. 

The aircraft will be parking at Heathrow's new Pier 6 at 

Terminal 3. The 280 meter long, three-storey high pier, 

has aircraft stands to accommodate up to four A380s 

at a time and four gate-rooms which together seat 

2,200 passengers. Airlines planning to operate the 

A380 at Heathrow include Singapore Airlines, 

Emirates, Malaysia Airlines, Qantas, Qatar Airways 

and Virgin Atlantic. 

Image: © AirTeamImages 

LUFTHANSA 

TECHNIK 

LAUNCHES TMO 

Lufthansa Technik AG 

launched its new Total 

Material Operations. 

The maintenance 

provider will establish 

central component and 

supplies depots at the 

main bases of its 

customers. 

The service portfolio 

embraces both the 

routine provision of 

components and 

unplanned replacement 

such as thrust reversers 

and other large items. 

Image: Boeing 

AIR FRANCE INDUSTRIES RECEIVES 

GP7200 MAINTENANCE LICENSE 

Air France Industries and the Engine Alliance have 

signed an Industrial Cooperation Agreement for Air 

France Industries to operate as a MRO center for 

the GP7000 engine, the powerplant for the Airbus 

A380. The Air France Industries facility in Paris will 

work as a part of the Engine Alliance MRO network. 

Air France, which has ordered GP7000-powered 

A380s, will start with partial GP7000 service 

capability next year when the engine enters into 

service, and ramp up to engine overhaul capability 

as the fleet grows. 

OTHER NEWS 

JetBlue postpones Airbus 

deliveries 

(Page 2) 

Kingfisher orders A340s 

(Page 2) 

SR Technics continues 

acquisitions 

(Page 3) 

Iberia to invest in LCC 

(Page 5) 

PUBLISHER 

Peter Jorssen 

ARYX Business Solutions Inc. 

9500 Aquila Road 

Richmond, BC 

Canada V7A 3P9 

Phone: +1 (604) 448-0970 

peter.jorssen@avitrader.com


COMMERCIAL AIRCRAFT & ENGINE 

Kingfisher orders more Airbus aircraft 

Kingfisher Airlines signed a contract for five firm 

Airbus A340-500 and options for five additional 

planes. The aircraft are scheduled for delivery in 

2008 and are the latest high gross weight 

versions. The aircraft will be powered by Rolls- 

Royce Trent 500 engines. The engine deal, 

which includes a long-term TotalCare 

maintenance agreement, is valued at around 

$500 million. 

Kingfisher already flies eight Airbus A320s and 

four Airbus A319s on domestic routes and will 

receive 30 more single aisle aircraft from Airbus 

in the near future. Kingfisher has also placed firm 

orders for five Airbus A380s, five A330s and five 

A350s for use on long-range international and 

regional services. So far, Kingfisher’s Airbus 

Family fleet will grow to more than 60 aircraft. 

GECAS orders CRJ700s 

GECAS will acquire five Bombardier CRJ700 

regional jets for subsequent lease to GoJet 

Airlines, for the carrier’s United Express service. 

Four of the aircraft are conversions of existing 

GECAS CRJ700 conditional orders and one is a 

new firm order. The list price value for the five 

aircraft on firm order is around $154 million. 

JetBlue postpones Airbus deliveries 

After two consecutive quarters with losses, 

JetBlue announced to grow at a less accelerated 

rate. The airline is deferring 12 Airbus aircraft 

previously scheduled for delivery in 2007 through 

2009 to 2011 through 2012, and is seeking a 

buyer for at least two of its A320s currently in 

revenue service. 

SALE orders NG737s 

Singapore Aircraft Leasing Enterprise signed an 

order for 10 Next-Generation 737s, plus 10 

options and 10 purchase rights. The agreement, 

valued at $675 million at list prices for the 10 firm 

airplanes, is the second SALE order for 737s in 

less than a year, after an order for 20 airplanes in 

May 2005. The new airplanes are scheduled for 

deliveries beginning in 2009 and extending 

through 2010. 

787 DREAMLINER ORDER DETAILS 

Iberia takes delivery of A340-600 and A321 

787-3 787-8 787-9 Engine Order Date 

Air Canada 14 GE 10-Nov-05 

Air China 15 22-Aug-05 

Air India 27 GE 30-Dec-05 

Air New Zealand 2 RR 25-Aug-04 

Air New Zealand 2 RR 26-Oct-05 

Air Pacific 5 26-Apr-05 

All Nippon Airways 30 RR 26-Jul-04 

All Nippon Airways 20 RR 26-Jul-04 

Blue Panorama Airlines 4 29-Dec-04 

China Eastern Airlines 15 14-Nov-05 

China Southern Airlines 10 16-Dec-05 

Continental Airlines 5 GE 30-Jun-05 

Continental Airlines 2 GE 31-Dec-05 

Ethiopian Airlines 10 GE 30-Jun-05 

First Choice Airways 6 GE 17-Feb-05 

Hainan Airlines 8 28-Nov-05 

Icelandair 2 28-Feb-05 

Icelandair 2 31-Mar-06 

ILFC 20 7-Oct-05 

JAL International 13 GE 10-May-05 

JAL International 17 GE 10-May-05 

Kenya Airways 6 6-Mar-06 

Korean Air 10 GE 31-May-05 

Lcal 6 RR 16-May-05 

Lcal 8 31-Dec-05 

LOT Polish Airlines 7 RR 8-Sep-05 

Northwest Airlines 18 RR 6-May-05 

QANTAS 15 30-Mar-06 

QANTAS 30 30-Mar-06 

Royal Air Maroc 4 GE 29-Nov-05 

Shanghai Airlines 9 22-Aug-05 

Unidentified Customer 1 3-Mar-06 

Vietnam Airlines 4 16-Nov-05 

Xiamen Airlines 3 16-Dec-05 

Total 43 263 44 350 

Iberia took delivery of a new A340-600, from the Airbus Toulouse 

plant, which will be used on the company’s intercontinental routes 

to Latin America, the United States, and South Africa. Iberia 

operates meanwhile 31 A340s including 13 A340-600. 

Iberia also received a new A321, the first to be delivered under the 

contract signed in February, 2005, to replace its fleet of short- and 

medium-range aircraft. The 2005 order included 79 units of Airbus 

A318s, A319s, A320s and A321s which will enter service between 

2006 and 2011. Iberia will receive five more aircraft in 2006, one 

A321 and four A319s. Iberia also announced to invest 30 million 

euros for the remodeling of its A320 family aircraft cabins. 

Provider DASH 8 and ATR Spares 

Lessor / Trader PW100 Series Engines 

www.magellangroup.net 

2 

MAY 1, 2006 / VOL. 44


Global Aircraft Solutions sells six 

ex-Delta 737s 

Global Aircraft Solutions and its joint 

venture company, JetGlobal sold six 

ex-Delta B737-200s in the first 

quarter 2006 for $9.5 million. Three 

of the six aircraft were sold to 

Northern Air Cargo, two to Air 

Philippines, and one to Binfirnas 

Airlines. 

AeroCentury signs lease 

AeroCentury is leasing a Saab 340A 

aircraft (MSN 12) for 24 months, with 

extension option, to RegionsAir. The 

airline will lease a second 340A from 

AeroCentury. The company also 

announced the sale of a Shorts SD3- 

60 (MSN 3732) to an U.S. operator. 

Dreamliners for Air Pacific 

Air Pacific placed an order for five 

Boeing 787-9 Dreamliners, with three 

additional purchase rights. The first 

aircraft will be delivered in 2011 and 

will fly the airline's key routes from 

Nadi, Fiji, to Australia, New Zealand, 

North America and Japan. The new 

Dreamliners will eventually replace 

two Boeing 747-400s and one 767- 

300ER. No list price is currently 

published for the 787-9 model. 

Skyways Aviation sells Saab 340A 

Skyways Aviation has arranged the 

sale of the last remaining Saab 340A 

of sister company Skyways Express 

of Sweden. The aircraft (MSN 15) 

was delivered to Bridges Worldwide, 

Hong Kong. 

Air Mauritius rearranged two 767s 

GA Telesis, Compass Capital 

Corporation and Marathon 767 SPV 

2006-1 (a Cayman Island Aircraft 

Lessor) reported the sale and 

leaseback of two 767-200EREM 

(MSN 23973, 23974) with Air 

Mauritius. 

A330 with Trent 772C receives 

ETOPS approval 

The Airbus A330-243 and A330-343 

fitted with new Trent 772C engines 

were approved for 180 minutes 

Extended-Range Twin-Engine 

Operations (ETOPS). The approval 

was granted by the new European 

Aviation Safety Agency (EASA). The 

first aircraft fitted with these engines 

will be delivered to Air China by the 

end of May. The increased take-off 

and max continuous thrust of these 

new engines provides improved 

aircraft performance in high altitude 

and hot day conditions. 

First Q400 delivered to Jeju Air 

South Korea’s Jeju Air took delivery 

of the first of five 74-seat Bombardier 

Q400 high-speed turboprop airliners. 

The airline also options for additional 

three Q400 aircraft. Jeju Air was 

formed in January, 2005 by the 

Aekyung Group and the Jeju 

Provincial Government. Jeju Air’s 

Q400 aircraft order was announced 

on June 8, 2005. 

AirTran firms up 737 order 

AirTran Airways has converted 

purchase options to firm orders for 

fourteen new Boeing 737-700 

aircraft for delivery in 2008 and 

exercised purchase rights for ten 

more of the same aircraft type for 

delivery in 2010. This exercise 

completes the airline's original order 

of 100 aircraft placed with Boeing in 

2003. The airline currently operates 

26 Boeing 737-700 series aircraft 

and 85 Boeing 717-200 aircraft 

making it the world's largest operator 

of the Boeing 717. 

CFMI logs $140 m engine order 

CFMI released that the SALE 

CFM56-7B engine order for ten firm 

placed 737s is worth $140 million at 

list price. 

Turkish Airlines receives A319s 

THY Turkish Airlines leased 2 new 

Airbus A319-100 aircraft from ILFC. 

The aircraft (MSN 2738, 2739), are 

powered by V2524-A5 engines and 

delivered in April 2006. The lease 

terms are for six years each. 

MRO & PRODUCTION 

ACTS signs up JetBlue 

Air Canada Technical Services has 

secured a ten year agreement for 

component maintenance support of 

JetBlue's Airbus A320 fleet. The 

agreement, representing an 

estimated value of $200 million over 

its lifetime, is the largest component 

maintenance contract for ACTS. 

ACTS will provide two-thirds of the 

total component maintenance 

services for JetBlue's current fleet of 

89 Airbus A320 aircraft, which is 

expected to grow significantly. Work 

will be performed at ACTS's 

Montreal components facility. This 

agreement builds on ACTS's A320 

airframe maintenance business 

relationship with JetBlue which has 

been in place since August 2003. 

SR Technics continues growth 

through acquisitions 

SR Technics has signed a MoU with 

Israel Aircraft Industries with the 

intention of acquiring a 60% 

controlling stake in IAI's fully owned 

airframe maintenance subsidiary, 

Empire Aero Center, based in Rome, 

New York. This MOU allows both 

parties to formally negotiate an 

agreement to share ownership of 

Empire Aero Center and provide 

airframe maintenance services to US 

customers at the Empire Aero Center 

facility. IAI will retain a 40% 

shareholding in Empire Aero Center. 

3 

MAY 1, 2006 / VOL. 44


Pratt & Whitney completes test of 

CFM56-3 PMA parts engine 

Pratt & Whitney Global Material 

Solutions completed a performance 

test of a CFM56-3 engine with 

P&W’s PMA parts installed. The test 

will feed Pratt & Whitney’s lifing 

analysis model. Global Material 

Solutions will manufacture life-limited 

and gas-path PMA parts for the 

CFM56 engine. United Airlines was 

announced earlier this year to be the 

launch customer for Pratt & 

Whitney's CFM56-3 PMA parts. 

LMI wins long term contract 

LMI Aerospace, a provider of 

assemblies, kits and detail sheet 

metal and machined components to 

the aerospace, defense and 

technology industries, announced 

today the signing of a long-term 

supply agreement with Spirit 

AeroSystems to continue providing 

components and assemblies for 

Boeing 737, 747 and 777 aircraft for 

its Tulsa Business Unit. At current 

production rates, the company 

expects sales covered under this 

agreement will total $60 million. 

Avmax selects Avexus 

Avexus, a provider of Asset 

Management & Operations and 

Maintenance, Repair & Overhaul 

(MRO) solutions and services, 

announced that Avmax Group , a 

provider in regional aircraft heavy 

maintenance, support, training and 

Commercial Aircraft Leasing 

Aircraft Management Services 

management services, has selected 

Avexus solutions to manage their 

MRO operations. 

Delta TechOps teams up with 

Aeromexico’s maintenance unit 

Delta Air Lines and Aeromexico, 

have reached a tentative agreement 

to form a maintenance partnership 

through which the airlines’ 

maintenance divisions, Delta 

TechOps and Aeromexico 

Maintenance and Engineering, will 

jointly market and perform MRO 

services for maintenance customers 

worldwide. In addition, Delta and 

Aeromexico will expand their current 

maintenance relationship. Through 

separate agreements, Delta 

TechOps will become the exclusive 

maintenance provider for 

Aeromexico’s fleet of CFM56-7 

engines and 131-9B auxiliary power 

units, while Aeromexico will become 

the exclusive heavy maintenance 

provider for Delta’s MD-88 fleet. 

Sun Country orders winglets 

Minneapolis-based Sun Country 

Airlines will retrofit 7 Boeing 737-800 

aircraft with Aviation Partners 

Boeing’s Blended Winglets, over the 

next 5 months. All aircraft are leased 

equipment owned by ILFC and CIT. 

Retrofit installations will be 

accomplished at Evergreen Air 

Center in Arizona and FlightCraft in 

Kelowna, British Columbia. 

Copa selects Boeing Maintenance 

Performance Toolbox 

Panama-based Copa Airlines will 

implement the Maintenance 

Performance Toolbox from Boeing, a 

set of performance-enhancing 

solutions for aircraft maintenance 

and troubleshooting. Copa Airlines is 

the first operator in the Americas to 

sign on for Toolbox. 

Aeromexico joins 777 parts pool 

Boeing and Aeromexico said signed 

an agreement in which the airline will 

become part of Boeing's Component 

Services Program (CSP). CSP is a 

parts-provisioning program that 

reduces the airline's up-front 

investment in spare parts and offers 

a supply of critical parts from a pool 

shared by participating 777 

operators. Aeromexico has signed 

up for the 777 CSP, which will 

initially cover two 777-200ERs. The 

first of those two was delivered in 

March; the second is scheduled for 

delivery in late April. Additional 777s 

will be added to the CSP program as 

the Aeromexico fleet expands. 

Aeromexico is the first airline in the 

Americas to join the 777 CSP 

program. 

Cathay Pacific introduces in-flight 

monitoring system from Boeing 

Cathay Pacific will install Boeing’s inflight 

airplane monitoring system to 

track the health of 43 twin-aisle 

Boeing jets. Boeing's Airplane Health 

10 South New River Drive East, Suite #200 

Fort Lauderdale, FL 33301 

tel. (954) 763-4737 

fax. (954) 763-4757 

4 

MAY 1, 2006 / VOL. 44


Management (AHM) will give Cathay 

Pacific a real-time tracking tool to 

identify potential problems and help 

turn reactive repair issues into a 

proactive, planned and timely 

maintenance program. 

Standard Aero amends CF34 

contract with SkyWest Airlines 

Standard Aero signed an 

amendment to its exclusive contract 

with SkyWest Airlines of Utah to add 

44 CF34-8 engines to the program. 

Standard Aero is now contracted to 

service all 114 of SkyWest's engines 

which power their fleet of CRJ-700 

aircraft for United Express. This 

amendment is expected to add over 

$200 million to the existing contract 

and will extend to March 2024. 

HAECO signs up new C-check 

customers 

HAECO signed in the first quarter 

2006 new contracts for 747 freighter 

C-checks with Atlas Air and Ocean 

Airlines. The company also received 

C-check contracts from Asiana 

Airlines for the A321 and from Global 

Supply Systems for the 747. 

Airlinair renews MRO contract 

Airlinair has renewed its 

maintenance contract with TAT 

Industries for its entire ATR fleet. 

Under the agreement TAT will 

provide full equipment support for 

these aircraft, together with pool 

access and consignment stock as 

well as on request performances 

(light and base maintenance). 

Airlinair is the largest European ATR 

operator with 24 ATRs. 

SAS Technical Services gets more 

MD87 MRO work 

SAS Technical Services signed a 3year 

full maintenance support 

contract with Spanair. The contract 

will cover a fleet of seven MD87s. 

FINANCIAL NEWS 

Boeing net income up 29% 

Boeing's first-quarter net income 

rose 29% to $692 million from $535 

million a year ago. Revenue for the 

quarter increased 12% to $14.3 

billion from $12.7 billion, operating 

cash flow grew 46% to $2.1 billion 

and the company's operating margin 

rose to 6.7% from 5.4%. Boeing's 

backlog at quarter end was $213 

billion, up 42% from a year ago and 

4% in the quarter. The growth 

primarily reflects the record 1,002 

commercial airplane orders won 

during 2005 and the additional 176 

orders received during the first 

quarter of 2006. 

Republic Airways improves profit 

Republic Airways Holdings Inc. 

reported operating revenues of 

$257.3 million for the quarter ended 

March 31, 2006, a 22.7% increase, 

compared to $209.8 million for the 

same period last year. The Company 

reported net income of $16.9 million 

for the quarter ended March 31, 

2006, a 14.0% improvement over the 

$14.8 million reported in the prior 

year’s first quarter. 

Iberia to invest in low cost carrier 

Iberia announced to invest 24 million 

euros for a 20% stake in a new 

Spanish low cost carrier. The new 

airline will operate point to point 

routes, basically from Barcelona. 

Other shareholders are Cobra 

Group, Iberostar Group, Quercus 

and Nefinsa each with a 20%. The 

new airline is expected to begin 

operation in October 2006 and will 

be managed independent from 

Iberia. The new low cost carrier will 

have 5 aircraft by the end of 2006 

and will grow to a fleet of 30 aircraft 

by 2008. 

Delta reaches tentative agreement 

with its pilot union 

Delta Air Lines confirmed that the Air 

Line Pilots Association (ALPA), the 

union representing the airline’s 

approximately 6,000 pilots, has 

ratified the tentative agreement and 

has agreed to present it to its 

membership for ratification by May 

31, 2006. The tentative agreement’s 

terms and conditions provide the 

necessary pilot savings through a 

combination of changes to pay, 

benefits and work rules. Because the 

company is reorganizing through the 

Chapter 11 process, the tentative 

agreement is subject to the U.S. 

Bankruptcy Court’s approval. If 

ratified by the pilots and approved by 

the Court, the agreement’s terms 

and conditions will be effective June 

1, 2006 and become amendable on 

Dec. 31, 2009. 

Midwest Air narrows losses 

Midwest Air Group's first quarter 

2006 operating revenue increased 

34.6% to $150.7 million. Operating 

results improved to a $9.3 million 

loss from a $15.9 million loss in the 

first quarter of 2005, while net results 

improved to an $8.7 million loss from 

a $15.9 million loss. 

Hawaiian Airlines completes note 

redemption 

Hawaiian Airlines completed the 

redemption of all of its outstanding 

subordinated convertible notes due 

in 2010. Under the terms of the 

financing, redemption of the notes 

required payment of 105% of the 

$52.3 million principal amount 

outstanding plus accrued interest, 

resulting in a total redemption outlay 

of $55.9 million. 

Court protects VARIG from aircraft 

seizure by leasing companies 

VARIG Brazilian Airlines won an 

important victory in New York when 

the bankruptcy court extended the 

embargo on the seizure of VARIG 

aircraft by aircraft leasing companies 

until May 31st . The airline said that 

the ruling enables VARIG to 

continue its financial recovery plan 

which may lead to a definitive 

5 

MAY 1, 2006 / VOL. 44


resolution to the Airline's restructuring 

needs in the near future. 

VARIG LOG submitted an offer to 

acquire VARIG for $400 million. 

B/E Aerospace’s profit soars 

B/E Aerospace reports first quarter 

2006 sales of $247.2 million, a $50.7 

million or 25.8% increase over the 

first quarter of 2005. Operating 

earnings for the first quarter of 2006 

of $31.1 million increased by 56.3% 

as compared to the same period last 

year. The increase in operating 

earnings was driven by continued 

revenue growth, earnings growth and 

margin expansion in each of B/E's 

commercial aircraft, distribution and 

business jet segments. 

GOL earnings increase by 62% 

GOL of Brazil reports first quarter 

2006 net income of $82.9 million 

representing a 20.8% net margin. 

Earnings per share increased 62%, 

to $0.42. 

Second consecutive quarterly loss 

for low cost carrier JetBlue 

JetBlue reported for the first quarter 

2006 a net loss of $32 million, 

compared to first quarter 2005 net 

income of $6 million. The operating 

loss for the first quarter was $25 

million, resulting in a negative 5.2% 

operating margin, compared to 

operating income in the first quarter 

of 2005 of $25 million, resulting in a 

6.6% operating margin. Operating 

revenues for the quarter totaled $490 

million, representing growth of 31.4% 

compared to the first quarter of 2005, 

on 27.2% more capacity. 

Mesa revenues up 18.3% 

Mesa Air released second quarter 

after tax earnings of $5.3 million on 

operating revenues of $312.1 million. 

Revenues for the second quarter of 

2006 increased $48.2 million, or 

18.3%, primarily as a result of the 

year-over-year increases in the 

regional jet fleet. Net income for the 

second quarter was $5.3 million as 

compared to net income of $10.8 

million for the same period of fiscal 

2005. Pro forma net income for the 

quarter was $12.9 million. 

Training Seminar 

Operating Leases 

How to structure, administer and �nance �nance an operating lease 

8-10 May, 2006 

Bilderberg Garden Hotel, 

Amsterdam, The Netherlands 

O�cial Publications:- 

Volvo Aero sales up 31% 

Volvo Aero’s first quarter net sales 

rose 31% to SEK 2,163 million from 

SEK 1,647 million in the previous 

year. The sales increase was mostly 

due to increased order intake in the 

aerospace industry, which resulted in 

increased volumes in both the 

production of components and in the 

aftermarket business. Operating 

income was SEK 206 million 

compared with SEK 210 million in 

the preceding year. Operating 

margin amounted declined from 

12.8% to 9.5%. The declines in 

operating income and operating 

margins are attributable to increases 

in the costs of raw materials and 

increased R&D costs in connection 

with the development of new engine 

components. Production start-ups of 

new components have also 

contributed to the production facilities 

not being used optimally. 

New Lufthansa bond six time 

oversubscribed 

Deutsche Lufthansa AG concluded 

the placement of a euro-benchmark 

bond. The issue was six-fold oversubscribed. 

The coupon has been 

fixed at 4.625%; the issue price is 

99.742% with an issue yield of 

4.669%. As planned, the issue 

volume totaled 500 million euros with 

a term of seven years. Prospectively 

CPD 

accreditation 

available 

www.everestevents.co.uk 

as of 4 May, the bond will be listed at 

the Frankfurt stock exchange. 

LAN Airlines operating result up 

LAN Airlines reported its 

consolidated financial results for the 

first quarter ended on March 31, 

2006. LAN earned net income of 

$79.7 million for the first quarter of 

2006. Excluding extraordinary items, 

net income for the quarter amounted 

to $46.0 million, flat when compared 

with the results obtained in 2005. 

Operating income for the quarter 

grew 21.4% to $68.7 million. 

Operating margin grew 0.1 points to 

9.4% as revenue growth of 19.8% 

outpaced a 19.7% growth in 

operating costs. Total revenues for 

the quarter reached $728.2 million 

due to an 18.1% increase in 

passenger revenues and a 20.9% 

rise in cargo revenues. 

Woodward Governor reports 

smaller profit 

Woodward Governor Company 

reported for its second fiscal quarter 

ended March 31, 2006 net sales of 

$209 million, compared to $211 for 

the second quarter last year. 

Earnings before income taxes for the 

quarter were $17.2 million, compared 

with $20.3 million in the same period 

a year ago. Net earnings for the 

quarter were $11.5 million compared 

6 

MAY 1, 2006 / VOL. 44


with $13.0 million in last year's 

second quarter. 

AerCap finalizes acquisition of 

AeroTurbine and secures credits 

AerCap Group completed a $346 

million credit facility with a 

consortium of banks led by Calyon. 

Calyon had initially underwritten the 

facility for $275 million and then 

increased it to $346 million due to 

oversubscription. AerCap will use 

the 5-year facility for financing a part 

of the acquisition and the planned 

expansion of its newly acquired 

subsidiary AeroTurbine. AerCap 

announced the agreement to acquire 

Miami, Florida-based AeroTurbine on 

20 March 2006. The AeroTurbine 

acquisition was still subject to 

regulatory approvals and certain 

closing conditions and has now been 

successfully completed with the 

closing of the credit facility. 

AerCap Group also completed a $1 

billion warehouse credit facility with 

UBS. The transaction closed on 26 

April 2006. AerCap will use the 6year 

facility to finance aircraft 

acquisitions to expand its portfolio 

over the coming years. 

AirTran revenues up 38.8% 

AirTran's revenues increased by 

38.8% to $416.0 million in the first 

quarter 2006. The airline reduced its 

net loss from $8.0 million in the first 

quarter 2005 to $4.6 million in the 

first quarter of 2006. 

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Alaska Air coverts notes 

Alaska Air Group, parent company of 

Alaska Airlines and Horizon Air, 

announced the successful 

conversion of all of the $150 million 

aggregate principal amount of its 

outstanding senior convertible notes 

due 2023 into Alaska Air Group 

common stock. 

Emirates posts record profit 

Emirates reported net profits of $762 

million for the financial year ended 

31st March 2006 - up 5% from the 

previous year’s profit of $726 million. 

Group revenue increased by $1.4 

billion or 27%, to $6.6 billion. The 

Group’s cash balance was $3 billion 

at the end of March. 

Goodrich reports financial result 

Goodrich reported first quarter 2006 

net income of $201 million, on sales 

of $1,424 million. This compares to 

first quarter 2005 net income of $58 

million on sales of $1,276 million. 

The improved results were primarily 

due to increased sales for 

commercial aerospace original 

equipment and aftermarket products 

and the inclusion of approximately 

$132 million related to the impact of 

the tax settlements with the IRS. 

GATX profit up 

GATX Corporation reported 2006 

first quarter net income from 

continuing operations of $47.9 million 

compared to net income of $28.4 

million in the first quarter of 2005. 

The 2006 first quarter results include 

approximately $3.4 million of aftertax 

benefit from lower depreciation 

on air assets targeted for sale. 

Flight attendants ratify contract 

Alaska Airlines’ flight attendants 

ratified a new four-year contract 

covering the airline's 2,540 flight 

attendants. 

NAV Canada concludes 

bargaining with union 

NAV CANADA reported the 

successful conclusion of collective 

bargaining with the union, 

representing 765 electronics 

technologists, installation 

technicians, electronics maintenance 

specialists, technical operations 

coordinators, and instructors. The 

resulting four-year collective 

agreement covers the period from 

September 2005 to August 2009. 

Pinnacle Airlines reports 10.4% 

operating margin 

Pinnacle Airlines Corp. reported first 

quarter 2006 operating revenue of 

$207.1 million, an increase of $12.4 

million, or 6%, over the same period 

in 2005. Pinnacle's operating margin 

for the first quarter of 2006 was 

10.4%, as compared to an operating 

margin of 10.3% last year. 

WestJet returns to Q1 profitability 

WestJet released its 2006 first 

quarter results, returning to first 

quarter profitability, with net earnings 

of $12.9 million up from the $9.6 

million net loss in the same quarter 

of 2005. WestJet's operating 

revenue for the first quarter of 2006 

was $387.6 million, a 31.6% increase 

from the $294.6 million achieved in 

the first three months of 2005. 

Austrian Airlines narrows losses 

Austrian Airlines reported for the first 

quarter 2006 that revenues 

increased by 18.2% to 547 million 

euros. The airlines also reported a 

loss before tax of 55.6 million euros 

compared to a loss of 82.4 million 

euros in the first quarter 2005. 

Norwegian Air Shuttle reports 

larger first quarter loss 

Norwegian Air Shuttle's first quarter 

2006 revenues increased by 69% to 

NOK 539 million. The airline posted 

a pre tax loss of NOK 59.9 million 

compared to a loss of NOK 47.6 

million in the first quarter 2005. 

OTHER NEWS 

Finnair Group’s ground handling 

subsidiary Northport Oy is planning 

to close down its money loosing 

Tampere unit during 2006. The 

closure affects sixteen employees. 

Northport Oy is a wholly-owned 

subsidiary of Finnair Plc providing 

ground handling services. It provides 

air travel check-in, gate and baggage 

services to airlines in Finland. 

SAS Ground Services has signed 

an agreement with Asiana Airlines 

for ground handling at London 

Heathrow Airport. The agreement is 

effective from May 4, 2006. Asiana 

7 

MAY 1, 2006 / VOL. 44


Airlines, a Star Alliance member, 

operates four weekly 747 flights 

between Seoul and London. 

The governments of Canada and the 

United Kingdom have negotiated an 

"Open Skies" air transport 

agreement. Canadian airlines will be 

able to offer virtually unlimited flights 

(passenger and cargo) to and from 

third countries via the United 

Kingdom, as U.K. airlines will also be 

able to do via Canada. Canadian and 

U.K. airlines will also face no 

restrictions on how they set their 

prices when carrying traffic through 

their own country’s cities to the third 

country. With new pricing provisions, 

these rights will allow Canadian and 

United Kingdom airlines to better 

respond to market demand. 

ILS announced its ILS Optimizer, a 

family of aviation inventory 

management products that is fully 

integrated with ILS's e-marketplace. 

ILS is offering Inventory Optimizer, a 

software package designed for 

aviation manufacturers, distributors, 

and brokers that manages the entire 

sales process including inventory 

tracking, negotiating and ordering. 

ILS is also offering MRO Optimizer, a 

software package specifically 

designed for aviation repair facilities 

that tracks inventory through the 

entire repair process keeping up with 

costs and turnaround times to 

improve accuracy and timeliness of 

service. Both Inventory Optimizer 

and MRO Optimizer are fully 

integrated with ILS's e-marketplace, 

eliminating the need for customers to 

reenter data and returning part 

search data directly into their 

Optimizer system. 

Boeing has selected Engineered 

Fabrics Corporation, a subsidiary of 

K & F, to supply fuel tanks for the B- 

52 military aircraft. The four-year 

agreement to provide flexible bladder 

fuel tanks, tooling and engineering to 

Boeing is part of a U.S. Air Force 

initiative to maintain its aging bomber 

fleet and is expected to generate an 

estimated $14 million in sales for K & 

F. The company expects to deliver 

initial orders to Boeing during the first 

quarter of 2007. 

bmi has appointed Andrew Dufty to 

the position of general manager 

marketing. 

Airbus and EADS-CASA have 

selected Goodrich Corporation to 

provide the air data system for the 

A400M military transport aircraft. The 

system, which uses Goodrich 

SmartProbe technology, will provide 

all the primary and standby air data 

information required by the aircraft. 

The award is the most recent Airbus 

program to select the SmartProbe 

system and the first European 

military program to make use of the 

technology. 

VirginBlue and Cendant Travel 

Distribution Services, a division of 

Cendant Corp. announced a multiyear 

agreement that provides 

VirginBlue Airlines with Cendant 

TDS' next-generation Passenger 

Services System (PSS), aiRES. 

AirLiance Materials announced that 

it is in the process of moving its 

operations into two new locations: a 

headquarters, sales, customer 

support and fulfillment facility in 

Chicago and an additional sales and 

customer support facility in Jupiter, 

Florida. The Florida facility is 

scheduled to go on-line in late July 

and the headquarters facility is slated 

to begin operations in August. 

The EADS Board of Directors has 

appointed Mr. Jean J. Botti as Chief 

Technical Officer (CTO) of EADS. 

Botti's focus will be research, 

technology development, 

development of design and 

manufacturing tools and innovation 

across the Group. As of 1 May 2006, 

Botti will be a Member of the EADS 

Executive Committee. 

Mesa Air Group announced the 

appointment of Raul Rizo-Patron as 

Vice President Corporate 

Development and Jim Marshall as 

Vice President Human Resources. 

China Aviation Suppliers Import 

and Export Group Corporation 

(CASGC) and Airbus extended their 

cooperation agreement for the joint 

venture CASC/Airbus Training and 

Support Centre for two more 

decades. The Centre is part of 

Airbus' $80 million investment in 

China. 

Republic Financial Corporation 

appointed Tom Curtis as a senior 

director in the origination team of the 

Aviation & Portfolio Group. 

The Swiss procurement agency, 

armasuisse, and Eurocopter signed 

a contract for 20 helicopters in 

Berne, Switzerland. Under the Swiss 

Light Transport and Training 

Helicopter (LTSH) program, 18 

EC635 for utility and advanced 

training missions and two EC135 for 

VIP/parliamentarian transport 

missions have been ordered. The 

Swiss Army is the second customer 

for the EC635 following the Royal 

Jordanian Air Force 

ROUTES 

American Eagle will add nonstop 

service between Monroe Regional 

Airport and Dallas/Fort Worth, 

beginning June 15, 2006. 

GOL began operating daily flights to 

Santarém in the Brazilian State of 

Pará. The new flights will connect 

through Manaus – Santarém – 

Belém – São Luis – Fortaleza – 

Recife – Salvador, with connections 

to all other destinations served by 

GOL. This new flight to the city also 

remarks the beginning of a route that 

connects, non-stop, the cities of Sao 

Paulo and Manaus. 

GOL has received authorization from 

the International Relations 

Department of the ANAC (National 

Agency of Civil Aviation) to operate 

regular flights to Santiago de Chile. 

With this authorization, the Company 

will begin preparations to operate 

this new route. 

Spirit Airlines announces new, 

twice daily non-stop service from its 

Detroit hub to Boston. Service begins 

August 15, 2006. 

8 

MAY 1, 2006 / VOL. 44

AviTrader AVIATION MARKETPLACE 

May 1, 2006 


Commercial Jet Aircraft 

Aircraft Company Engine MSN Year Availability Contact Email Phone 

A300B4-200F Jet2 CF6-50 121 1980 immediately Sale Antony Sainthill asainthill@jet2.com +44 (0)1202 597600 

A320-211 ADC Airways CFM56-5 615 1-Mar-06 Wet Lease Ali Darwiche info@adcairways.com +961 3 76 79 78 

B727-100 Wentworth & Affiliates, Inc. JT8D 19261 1969 immediately Sale Wendy Bierwirth wendybierwirth@wentworth.aero +1 (301) 869-4600 

B727-200 Wentworth & Affiliates, Inc. JT8D 20053 1969 immediately Sale Wendy Bierwirth wendybierwirth@wentworth.aero +1 (301) 869-4600 

B727-200 GA Telesis Turbine Technologies JT8D immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

B727-200 GA Telesis Turbine Technologies JT8D Super 27 immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

B727-200 Wentworth & Affiliates, Inc. JT8D (200) 22541 1982 immediately Sale Wendy Bierwirth wendybierwirth@wentworth.aero +1 (301) 869-4600 

B727-200F GA Telesis Turbine Technologies JT8D Super 27 immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

B727-200F GA Telesis Turbine Technologies JT8D immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

B737-200 BCI Aircraft Leasing JT8D 22859 1982 immediately Sale, Lease Brad Vineyard bvineyard@bciaircraft.com +1 (630) 862-8989 




B737-300 BCI Aircraft Leasing CFM56-3 23360 1985 immediately Sale, Lease Richard Horn richard@bciaircraft.com +1 (310) 923-4300 



B737-300 Bristol Associates, Inc. CFM56-3 23931 1988 immediately Sale, Lease Pete Seidlitz bristol@bristolassociates.com +1 (202) 682-4000 

B737-300 Bristol Associates, Inc. CFM56-3 23932 1988 immediately Sale, Lease Pete Seidlitz bristol@bristolassociates.com +1 (202) 682-4000 

B737-300 Jetscape CFM56-3 immediately Sale, Lease Stefan Kageman skageman@jetscape.aero +1 (954) 763-4737 

B747-200C GA Telesis Turbine Technologies JT9D immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

B747-400 Bristol Associates, Inc. PW4000 25395 1992 immediately Sale, Lease Pete Seidlitz bristol@bristolassociates.com +1 (202) 682-4000 




B767-200 Corporate Concepts Intl JT9D 21862 1983 immediately Sale, Lease Dennis Blackburn blackburncci@aol.com +1.281.359.8070 




B767-200 Corporate Concepts Intl JT9D 21875 immediately Sale, Lease Dennis Blackburn blackburncci@aol.com +1.281.359.8070 





BA310-322 Gas Turbines International JT9D 410 1986 immediately Sale, Lease Jason Rayman jray@gti-power.com +1 (561) 572-3333 

CRJ-200ER Morten Beyer & Agnew CF34-3 7179 1997 immediately Sale Bryson Monteleone bmontele@mba.aero +1 (703) 276-3200 






CRJ-200ER Morten Beyer & Agnew CF34-3 7295 1999 immediately Sale Robert Agnew rf@mba.aero +1 (703) 276-3200 

DC8-62AF CYGNUS AIR JT3D 45921 1-Jul-06 Sale Alvaro Macarron amacarron@cygnusair.es +34 91 746 1380 

DC8-62AF CYGNUS AIR JT3D 46023 1-Jul-06 Sale Alvaro Macarron amacarron@cygnusair.es +34 91 746 1380 

Sample Aircraft 

Commercial Turboprop / Business Jets 

Got microfilm? Conversion to PDF not helping? 

Your cartridges or CD’s converted and indexed by aviation professionals 

Altogether faster, easier and better value. 

DVD or online access. 

www.stream.aero 

B737-300 Company A CFM56-3 SN12346 1998 immediately Sale, Lease John Doe jd@comp.com (0)323 340676 

Sample Engine 

CFM56-3C1 Company A SN111222 immediately Sale, Lease John Doe jd@comp.com (0)323 340676 view 


ATR42-320 Crabtree Capital PW121 132 1989 immediately Sale Mark Tierney mtie@crabtree-capital.com +353 1 634 5357 

ATR42-320 Crabtree Capital PW121 155 1989 immediately Sale Mark Tierney mtie@crabtree-capital.com +353 1 634 5357 

DHC8-102 CIT Aerospace PW120 108 1998 1-May-06 Sale Nicole Johnson nicole.johnson@cit.com +353 1 656 1012 

DHC8-102 CIT Aerospace PW120 116 1989 1-Apr-06 Sale Nicole Johnson nicole.johnson@cit.com +353 1 656 1012 

www.avitrader.com advertising inquiries call +1 (604) 448-0970 

view

AviTrader AVIATION MARKETPLACE 

May 1, 2006 


Commercial Turboprop / Business Jets 


DHC8-102 CIT Aerospace PW120 108 1998 1-May-06 Sale Nicole Johnson nicole.johnson@cit.com +353 1 656 1012 

DHC8-102 CIT Aerospace PW120 116 1989 1-Apr-06 Sale Nicole Johnson nicole.johnson@cit.com +353 1 656 1012 

DHC8-102 CIT Aerospace PW120 194 1990 1-Mar-06 Sale Nicole Johnson nicole.johnson@cit.com +353 1 656 1012 

DHC8-102 CIT Aerospace PW120 205 1990 immediately Sale, Lease Nicole Johnson nicole.johnson@cit.com +353 1 656 1012 

DHC8-102 CIT Aerospace PW120 282 1991 1-Oct-06 Sale Nicole Johnson nicole.johnson@cit.com +353 1 656 1012 

EMB-120ER Compass Capital Corporation PW118 120190 1990 immediately Sale, Lease Ken De Jaeger kdejaeger@compasscapitalcorp.com +1 (203) 610-8230 




GULF 5 Jetavia Ltd BR710 TBA 2002 immediately Sale Jay Mehta jetavia@ntlworld.com +44 208 262 7082 

Commerical Engines 

Engine Type Compan y Availability Description Contact Email Phone 

(1) CF6-50C2 Jet2 immediately Sale Dave Daughters ddaughters@jet2.com 

(2) CF6-50C2R Aerostar Asset Management FZC immediately Sale Zamil Samji aeroam@eim.ae +971 6 557 3570 

(1) CF6-50E2 Sunstar Aviation, Inc. 28-Feb-06 Sale Adolfo Diaz sunstarav@comcast.net +1 (954) 727-3381 

(2) CF6-80A AeroTurbine immediately Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(1) CF6-80A2 AeroTurbine immediately Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(1) CF6-80A3 AeroTurbine immediately Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(1) CF6-80C2B6F AeroTurbine 1-May-06 Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(1) CFM56-3B-1 GA Telesis Turbine Technologies immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

(1) CFM56-5B3/P ELFC immediately Sale, Lease Mark Weller mark.weller@elfc.com +353 61 363555 

(2) CFM56-3B-2 GA Telesis Turbine Technologies immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

(1) CFM56-3B-2 GE Aviation Materials 01-Jun-2006 Sale, Lease, Exchange Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

(2) CFM56-3B-2 GE Aviation Materials immediately Sale, Lease, Exchange Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

(1) CFM56-3C-1 AeroTurbine 1-May-06 Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(5) CFM56-3C-1 AeroTurbine immediately Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(1) CFM56-3C-1 ELFC immediately Sale, Lease Mark Weller mark.weller@elfc.com +353 61 363555 

(1) CFM56-5C2 AeroTurbine immediately Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(2) CFM56-5C4 ELFC immediately Sale, Lease Mark Weller mark.weller@elfc.com +353 61 363555 

(2) CT7-9B GE Aviation Materials immediately Sale, Lease, Exchange Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

JT8D-15/17 GA Telesis Turbine Technologies Various engines available for Sale or Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

(3) JT8D-15 Aerospace Center Corp immediately Sale Michael Levkovitz ml@aerospacecenter.org +1 (305) 889-2700 

(2) JT8D-15 Aerostar Asset Management FZC immediately Sale Zamil Samji aeroam@eim.ae +971 6 557 3570 

(1) JT8D-15 Fort Lauderdale Aerospace immediately Sale John Barker johnbarker@ftlauderdaleaerospace.com +1 (954) 472-2888 

(1) JT8D-15 GA Telesis Turbine Technologies immediately Sale, Lease Abdol Moabery amoabery@gatelesis.com +1 (954) 676-3111 

(1) JT8D-15 GA Telesis Turbine Technologies immediately Sale, Lease Abdol Moabery amoabery@gatelesis.com +1 (954) 676-3111 

(2) JT8D-15 LJH Aviation Management Services immediately Sale Harold Woody harold.woody@yahoo.com +1 (501) 318-1465 

(1) JT8D-15 NewJet Engine Services, Inc. immediately Sale, Lease Sami Joseph samij@newjet.net +1 (305) 254-8001 

(1) JT8D-15A Aerostar Asset Management FZC immediately Sale Zamil Samji aeroam@eim.ae +971 6 557 3570 

(1) JT8D-15A BCI Aircraft Leasing immediately Sale, Lease Brad Vineyard bvineyard@bciaircraft.com +1 (630) 862-8989 

(2) JT8D-217C AeroTurbine immediately Sale, Lease, Exchange Bob Nichols bnichols@aeroturbine.com +1 (305) 590-2600 

(1) JT8D-217C Avioserv San Diego, Inc. immediately Sale, Lease, Exchange Paul Dolan pdolan@avioserv.com +1 (858) 812-9720 

(1) JT8D-219 ELFC immediately Sale, Lease Mark Weller mark.weller@elfc.com +353 61 363555 

(2) JT8D-219 GA Telesis Turbine Technologies immediately Sale, Lease Pascal Picano ppicano@gatelesis.com +1 (954) 676 3111 

(1) JT8D-7B Fort Lauderdale Aerospace immediately Sale, Lease John Barker johnbarker@ftlauderdaleaerospace.com +1 (954) 472-2888 

(1) JT8D-9A BCI Aircraft Leasing immediately Sale, Lease Brad Vineyard bvineyard@bciaircraft.com +1 (630) 862-8989 

(2) JT8D-9A Fort Lauderdale Aerospace immediately Sale, Lease John Barker johnbarker@ftlauderdaleaerospace.com +1 (954) 472-2888 

(2) JT9D-7R4E1 JMV Aviation 1-May-06 Sale Karl Rickard karl@jmvaviation.com +352-061707300 

(1) PW119B Asset Aerospace immediately Sale Peter Hammond peter@asset-aerospace.com +49-(0)815388690 

(1) PW2037 ELFC immediately Sale, Lease Mark Weller mark.weller@elfc.com +353 61 363555 

Aircraft and Engine Parts and Components 

Description Company Contact Email Phone 

B737-300 Parts and Components GE Aviation Materials Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

CF34-3B1 HPT modules, several serial numbers GE Aviation Materials Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

CRJ 100/200 Material rotable-repairable - expendable. sage-popovich, inc. Nick Popovich nick@sage-popovich.com +1 (219) 464-8320 

Substantial A300 Parts Inventory Jet2 Dave Daughters ddaughters@jet2.com 

Equipment Wanted 

Description Company Contact Email Phone 

Large and Small comerrcial aviation engines - all models. GE Aviation Materials Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

Engine and Aircraft parts and components packages GE Aviation Materials Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

Regional Jets, B737, B747, B767, A310,A319, A320 GE Aviation Materials Richard Kruze richard.kruze@ae.ge.com +1 (513) 552-2352 

Two ATR42-300 for immediate purchase. (PAX or Cargo Config) ARKAS Daniel Restrepo drestrepo@indaer.com.co 

www.avitrader.com advertising inquiries call +1 (604) 448-0970

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