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☆ Dubai Aerospace flags corrosion in plane leased to India's bankrupt Go First
▼ + stars: | 2023-09-14 | by ( Arpan Chaturvedi | ) www.reuters.com time to read: +2 min

REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsNEW DELHI, Sept 14 (Reuters) - Dubai Aerospace Enterprise (DAE) Capital has told an Indian court it detected corrosion of some parts and "a greenish deposit" on a plane leased to bankrupt airline Go First, after another lessor complained about "robbed" parts. The lessors currently are only allowed an occasional inspection of the grounded Go First planes, which DAE and others claim are not being properly maintained. DAE court documents show it was worried about a lack of covers on cabin and cockpit seats "which would eventually lead to fungus formation", according to an internal e-mail contained in the filing. Indian media outlet Mint reported on Thursday that another lessor, BOC Aviation, also told the Delhi court about algae formation as the planes were not covered. Go First lessor SMBC Aviation Capital Aviation in May told an Indian court that Indian bankruptcy law, which blocks plane repossession, will jolt the market and spark a confidence crisis.

Persons: Adnan Abidi, DAE, Arpan Chaturvedi, Aditya Kalra Organizations: REUTERS, Dubai Aerospace Enterprise, Go, ACG Aircraft Leasing, BOC Aviation, SMBC Aviation Capital Aviation, Thomson Locations: New Delhi, India, DELHI, Delhi

Go First has been locked in legal disputes with many of its foreign lessors since being granted bankruptcy protection in India in May. Bankruptcy froze its assets and has prohibited the recovery of more than 50 grounded Airbus (AIR.PA) planes. Go First, whose lessors also include Standard Chartered's Pembroke Aircraft Leasing, SMBC Aviation and BOC Aviation, did not respond to a request for comment. The world's second-largest aircraft lessor, SMBC, warned in May that India's decision to block leasing firms from reclaiming Go planes would jolt the market and spark a confidence crisis. Reporting by Aditi Shah and Arpan Chaturvedi in New Delhi; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Adnan Abidi, ACG, lessors, Aditi Shah, Arpan Chaturvedi, Simon Cameron, Moore Organizations: REUTERS, Go, Airbus, Court, Reuters, ACG Aircraft Leasing, Bankruptcy, Pembroke Aircraft Leasing, SMBC Aviation, BOC Aviation, Thomson Locations: New Delhi, India, DELHI, Ireland, Delhi

The lessors have so far unsuccessfully argued in Indian courts to get their planes back, citing concerns that parts could go missing and hurt their assets. In a non-public filing dated July 28 and reviewed by Reuters, ACG submitted pictures and details to the Delhi High Court, listing missing parts from two Airbus A320 planes it inspected. These included the captain's "side stick" used to fly the aircraft, a tiller that helps steer it while on the ground, engine fan blades that were "completely missing", a partly missing toilet seat and an escape slide that had been removed. The filing does not say who took out the parts or how they went missing. Go First, whose lessors also include Standard Chartered's Pembroke Aircraft Leasing, SMBC Aviation and BOC Aviation, did not respond to a request for comment.

Persons: Adnan Abidi, ACG, Pratt, Aditi Shah, Aditya Kalra, William Mallard Organizations: REUTERS, NEW, Go, ACG Aircraft Leasing, Bankruptcy, Reuters, Court, Airbus, Pembroke Aircraft Leasing, SMBC Aviation, BOC Aviation, Raytheon, Whitney, Thomson Locations: New Delhi, India, NEW DELHI, Ireland, Delhi, U.S

☆ Aircraft lessors set for June 2024 trial over Russia insurance claims
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File photoDUBLIN, July 31 (Reuters) - Some of the world's largest aircraft lessors and insurers are aiming to be ready to go to trial in June 2024 over contested insurance claims for aircraft stuck in Russia, a lawyer for one of the lessors said on Monday. Those steps include finding a venue large enough for the 180 attendees Smith said were expected at the trial each day. Justice Denis McDonald told a packed hearing last month that no court in Ireland was large enough to hear the case. The world's biggest aircraft lessor, Irish-based AerCap (AER.N), is pursuing its insurance claims through London's High Court. AerCap's Chief Financial Officer said on Monday that it continued to have discussions with Russian insurers on a potential settlement regarding some of its aircraft stranded in Russia.

Persons: Dado Ruvic, Lessors, Kelley Smith, Avolon, Smith, Denis McDonald, we're, Peter Juhas, Padraic Halpin, Mark Potter Organizations: SMBC Aviation, REUTERS, BOC Aviation, HK, CDB Aviation, Nordic Aviation Capital, Carlyle Aviation Partners, world's, Thomson Locations: Russian, DUBLIN, Russia, Ukraine, Ireland, London's

NEW DELHI, May 30 (Reuters) - India's aviation watchdog has put on hold requests from lessors to repossess planes from Go First, as the airline's bankruptcy process imposes a freeze on assets which supersedes such requests, the regulator said in a court filing seen by Reuters. Lessors of Go First have locked horns with Go First and India's Directorate General of Civil Aviation (DGCA) to reclaim its planes for missed payments, filing as many as 40 requests with the watchdog to allow repossession. Go First's lessors include Standard Chartered's Pembroke Aircraft Leasing, SMBC, CDB Aviation's GY Aviation Leasing and BOC Aviation. India has ratified the treaty but the DGCA argued there was no local legislation enforcing it, rendering it ineffective. The DGCA filing said local laws "prevail over provisions of any international treaty that India is a signatory to".

☆ A budget Canadian airline had 4 of its planes repossessed. Its CEO is blaming a conspiracy.
▼ + stars: | 2023-05-25 | by ( Bianca Giacobone | Taylor Rains | ) www.businessinsider.com time to read: +7 min

In March, lessor Airborne confiscated four of Flair Airlines' planes because of late payments. A low-cost Canadian upstart airline had four of its planes repossessed by New York-based aircraft lessor Airborne Capital on March 11, forcing the carrier to cancel multiple flights and leaving a trail of disgruntled passengers behind. Flair Airlines CEO Stephen Jones blamed "behind the scenes" scheming between the airline's competitors and Airborne Capital for the repossession of four of Flair's Boeing 737 planes. It's not the first time Flair has clashed with other Canadian airlines. US investment firm 777 Partners owns a 25% stake in Flair Airlines, which was cause for concern for the CTA.

Persons: Stephen Jones, Flair, We've, Jones, — Flair, It's, —, Tim Donovan, Donovan, Prince Edward Island Organizations: Airborne, Flair Airlines, Flair, Morning, Capital, Airborne Capital, Boeing, The Canadian Press, Air Canada, BOC Aviation, Financial, Ontario Superior Court of Justice, National Airlines Council of Canada, Canadian Transportation Agency, Partners, CTA, National Airlines Council, Easter, Airways Magazine, Bonza Airlines, Dominican Republic Locations: New York, North America, Canada, Titusville , New Brunswick, Toronto, Saint John , New Brunswick, Charlottetown, Ottawa, Montreal, Florida, Dominican

☆ Boeing deliveries fall by half in April due to 737 MAX bracket defect
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, May 9 (Reuters) - Boeing Co (BA.N) deliveries fell to 26 airplanes in April, less than half of the previous month's total, after a manufacturing defect forced the company to halt some shipments of its bestselling 737 MAX passenger jet. Deliveries of the MAX, which had climbed to 52 narrowbody jets in March, dropped to 17 planes last month. That left passenger jet deliveries for the U.S. planemaker at their lowest level since July 2022, as well as below the 35 planes delivered last April. Boeing Chief Financial Officer Brian West told investors in an earnings call last month that MAX deliveries would slow through the second quarter, but then grow to about 40 jets per month, with sequential quarterly improvement in the second half. Boeing has delivered 156 jets over the first four months of 2023, including 128 MAXs.

U.S. District Judge Lewis Liman in Manhattan found the defendant AirBridgeCargo Airlines LLC and its parent Volga-Dnepr Logistics BV liable, after the invasion and resulting sanctions left the plaintiff BOC Aviation unable to reclaim the aircraft. BOC Aviation said AirBridgeCargo went into default after being unable to maintain required reinsurance coverage. This followed restrictions imposed by the European Union against Russian carriers on aircraft used in Russia, and Russian sanctions on foreign assets, including internationally leased aircraft. BOC Aviation said it was able to recover one leased plane and two of its four engines, while the two other planes and two other engines remained in Russia. The case is BOC Aviation Ltd v AirBridgeCargo Airlines LLC et al, U.S. District Court, Southern District of New York, No.

U.S. District Judge Lewis Liman in Manhattan found the defendant AirBridgeCargo Airlines LLC and its parent Volga-Dnepr Logistics BV liable, after the invasion and resulting sanctions left the plaintiff BOC Aviation unable to reclaim the aircraft. A lawyer for Singapore-based BOC Aviation had no immediate comment, having yet to hear from his client. BOC Aviation said AirBridgeCargo went into default after being unable to maintain required reinsurance coverage. BOC Aviation said it was able to recover one leased plane and two of its four engines, while the two other planes and two other engines remained in Russia. The case is BOC Aviation Ltd v AirBridgeCargo Airlines LLC et al, U.S. District Court, Southern District of New York, No.

☆ Lessor BOC Aviation orders 40 Boeing 737 MAX planes
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

Dec 28 (Reuters) - Aircraft lessor BOC Aviation Ltd (2588.HK) said on Wednesday it had ordered 40 Boeing Co (BA.N) 737 MAX planes to be delivered in 2027 and 2028, in a year-end boost to the U.S. manufacturer's order book. The Singapore-based lessor said it also amended its existing purchase agreement with Boeing as part of the deal, resulting in it having 80 737 MAX jets on order in total, to be delivered from 2023 to 2028. Boeing's total aircraft orders net of cancellations for the year reached 571 in the 11 months ended November, while rival Airbus SE (AIR.PA) reported 825 net orders in the same period. Both manufacturers are expected to receive large orders soon from Air India, which is negotiating a major fleet renewal and expansion under new owner Tata Group that industry sources said could involve nearly 500 aircraft. Reporting by Jamie Freed in Sydney; Editing by Chris Reese and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Aircraft lessors sue insurers for $8 billion over trapped Russian planes
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +4 min

LONDON, Nov 30 (Reuters) - Aircraft leasing firms are suing dozens of insurers for around $8 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow's invasion of Ukraine. Lessors argue the aircraft are covered by policies against war or theft, but insurers point out the planes are undamaged and might yet be returned. Here is a list of claims filed against insurers in London, Dublin and the United States, with the most recent filing listed first. SMBC AVIATION CAPITAL VS LLOYD'S OF LONDONSMBC filed a claim against Lloyd's of London (SOLYD.UL) in the Irish High Court on Nov 28. BOC AVIATION VS 16 INSURERSBOC Aviation has begun legal action against 16 insurers, according to an Irish High Court filing on Nov 3.

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