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DUBLIN, Jan 18 (Reuters) - A battle for compensation is brewing over delays in the delivery of commercial jets, with a Dublin aviation summit descending into a blame game over the worst industrial disruption in years. Aircraft contracts contain dense descriptions of adverse factors which excuse manufacturers for multiple types of delay, meaning they can avoid paying penalties or "liquidated damages". Excusable delays include "acts of God", natural disasters, fire, flood, earthquakes and epidemics, among other examples, according to extracts of past contracts filed with regulators. Non-excusable delays include anything that falls outside this catalogue, but are rare, experts say. 'OVER-OPTIMISTIC'"They are not excusable at all," Aengus Kelly, chief executive of lease giant AerCap (AER.N) told the Airfinance Journal conference when asked about the delays.

The International Air Transport Association, which represents global airlines, is predicting full recovery in 2024. The crippling impact of COVID-19 saw dozens of airlines go out of business and wiped billions of dollars off balance sheets. In public, airlines and leasing firms have deplored delivery delays and are seen likely to press aircraft makers for compensation. Inflation is driving up aircraft parts and prices, while raising questions over the resilience of travel demand. Overall, more than half of the world's airline fleet is controlled by global leasing companies rather than owned directly by airlines.

☆ Lessor says Air India to order around 500 jets
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Jan 16 (Reuters) - Air India is set to order around 500 planes as an airline industry recovery takes hold following the pandemic, one of the world's leading aircraft lessors said on Monday. The comments are the first public indication of the scale of the planned order after Reuters reported in December that Air India was close to ordering as many as 500 jets as it carves out a renaissance under the Tata Group conglomerate. Air India did not immediately respond to a request for comment. China last year placed a block order for Airbus jets. "We do expect a number of airlines will place large orders and again most of these orders will be for replacement," Udvar-Hazy said.

☆ Russia's Aeroflot bought 10 Boeing 777 from Russian bank VEB, sources say
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +2 min

Jan 11 (Reuters) - An Irish lessor that sold 10 Boeing 777-300ER aircraft to Russia's flagship carrier Aeroflot (AFLT.MM) last year was a local subsidiary of state controlled Russian development bank VEB, two sources familiar with the matter told Reuters. State-controlled Aeroflot announced on Dec. 30 that it had bought 10 Boeing 777-300ER long-haul planes it previously leased from an Irish company, which it refused to name. Aeroflot and VEB-Leasing, a part of VEB Group, did not immediately respond to requests for comments. To protect domestic flights, Moscow re-registered the aircraft in Russia and refused to allow some of them to leave, stranding almost $10 billion worth of aircraft in Russia. Russian airlines continue to operate many of the jets, but some have struggled to secure replacement parts.

☆ As White-Collar Layoffs Rise, Blue-Collar Resilience Faces Test in 2023
▼ + stars: | 2023-01-09 | by ( Sarah Chaney Cambon | ) www.wsj.com time to read: 1 min

Layoffs at white-collar companies are starting to rise. Now the question hanging over the economy in 2023 is whether that trend spreads to blue-collar industries as interest rates bite. Average layoffs in finance and insurance from September to November nearly doubled from a year earlier, according to Labor Department data released this past week. Job cuts picked up by more than 20% among real-estate lessors, brokers and agents over the same period, and by about 14% in the tech-heavy information sector.

Russian airlines continue to operate many of the jets, but some have struggled to secure replacement parts. AerCap (AER.N), SMBC Aviation Capital and Avolon, the world's largest lessors, declined to comment on whether they were involved in talks on payment for jets from Russian airlines or their insurers. RUSSIAN STATE FUNDSRussian state backing for the talks was demonstrated in an Aug. 30 letter from its Transport Ministry to 23 airlines. That was "considerably less than the aggregate Agreed Values" for the aircraft, SMBC said in the letter. But one Western finance official said any deal would face major legal and diplomatic hurdles and talks may be premature.

☆ Direct ChassisLink changes hands in $3.6 billion deal-sources
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

The deal marks a win for Apollo, which acquired a majority stake in Charlotte, North Carolina-based Direct ChassisLink and logistics and digital supply chain solutions company Blume Global from EQT in 2019 for around $2.5 billion, including debt. Excluding Blume's remaining value, Apollo made two times the money it invested, according to a person familiar with the matter. Blume separately raised money from outside investors in 2021 at a valuation of $500 million. Direct ChassisLink controls a fleet of over 151,000 marine and 100,000 domestic chassis. Reporting by David Carnevali in New York; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus drops 2022 delivery forecast, softens output goal
▼ + stars: | 2022-12-07 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Reuters reported on Friday that the target was under review after November deliveries had fallen short of expectations. Once closely tied, production and deliveries have become disconnected since the pandemic hit demand and rippled through supply chains. The speed of the production increase will depend in part on how many 2022 jet deliveries get pushed into 2023. Airbus is pushing buyers to take delivery of jets scheduled for this month, even though it has also started delaying further deliveries planned for 2023, some of which may spill into 2024. Boeing (BA.N), which has been lagging on orders and deliveries so far this year, will issue new data next week.

☆ 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.

☆ Airline SAS' losses deepen, warns bankruptcy protection will drag out
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, Nov 30 (Reuters) - Crisis-hit Scandinavian airline SAS (SAS.ST) on Wednesday reported a much deeper loss in its August-October quarter than last year and said it will take slightly longer than previously expected to complete its bankruptcy protection process. SAS, whose biggest owners are the Swedish and Danish governments, said in a statement it aimed to complete its bankruptcy protection process during the second half of 2023. SAS hopes to cut costs by 7.5 billion crowns, raise at least 9.5 billion in new equity and convert more than 20 billion of debt into equity as part of its rescue plan. SAS, which formerly earned a large share of its profits from business travel, is refocusing towards leisure. Its full-year pretax loss adjusted for items affecting comparability widened to 7.94 bllion despite full-year sales doubling to 31.8 billion crowns, in line with guidance given in September.

☆ Airbnb has promise as the quasi-immobility firm
▼ + stars: | 2022-11-30 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 30 (Reuters Breakingviews) - Airbnb (ABNB.O) is a boon to mobile travelers - but soon might benefit from immobile, old-school renters too. But the deal, which secures buy-in from large housing managers that should otherwise hate Airbnb, makes sense in a post-pandemic era. The agreement paves the way for some of America’s largest landlords to list their empty abodes for traditional long-term leases on Airbnb. Still, Covid-19 has fundamentally changed people’s habits in a way that could benefit both Airbnb and the apartment rental firms – if they innovate. In the past, that has enabled apartment companies to hold their tenants hostage to an extra couple of months’ rent.

☆ Airbus faces growing end-year jet delivery crunch
▼ + stars: | 2022-11-28 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

Airbus has told investors it plans to deliver "around 700" commercial aircraft in 2022. That figure is increasingly under pressure, barring what would be a record and essentially glitch-free performance in the busy month of December, industry sources said on Monday. According to latest available data from aircraft analyst Cirium, Airbus has delivered 536 aircraft so far this year, implying 39 to 41 deliveries so far in November. Between January and October, Airbus delivered 497 planes or a net total of 495 after adjusting for the cancellation of two planes stranded by Western sanctions against Russia. That could intensify the traditional crunch which often sees some planes delivered in the closing hours of the year.

☆ Garuda Indonesia files for Chapter 15 U.S. bankruptcy procedure - CEO
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA worker walks on a crane as a Garuda Indonesia's aircraft is parked at the Garuda Maintenance Facility (GMF) AeroAsia, at Soekarno-Hatta International airport near Jakarta, Indonesia, January 21, 2022. REUTERS/Willy Kurniawan/File PhotoJAKARTA, Sept 26 (Reuters) - Flag carrier Garuda Indonesia (GIAA.JK) has requested that a court in New York recognise the airline's recent debt restructuring deal in a Jakarta court, under Chapter 15 of the U.S. Bankruptcy Code, its chief executive said on Monday. Garuda filed the Chapter 15 case late last week at a New York bankruptcy court, CEO Irfan Setiaputra told Reuters. Chapter 15 provides for cooperation between U.S. and foreign courts, if there is a U.S. financial interest in proceedings. ($1 = 15,125.0000 rupiah)Register now for FREE unlimited access to Reuters.com RegisterReporting by Stefanno Sulaiman; Writing by Gayatri Suroyo Editing by Kanupriya Kapoor, Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ Fact Check-Idaho’s government is not offering ‘porn literacy’ courses to students
▼ + stars: | 2022-09-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +6 min

Viral claims that the Idaho Department of Health and Welfare (DHW) is purchasing “porn literacy” materials and including them in their curriculum for students are untrue. On Sept. 13, the IFF published an article titled “Idaho’s government offers “porn literacy,” other corrupting practices to k-12 students,” (here). (The article’s first paragraph uses different wording to the headline, saying the DHW purchases “materials and training” from ETR “an interest group promoting porn literacy” – not that Idaho’s DHW offers porn literacy). The descriptions of the courses and table of contents make no mention of pornography or “porn literacy.” Stahl told Reuters the agency never considered the use of any “porn literacy” materials. Idaho Department of Health and Welfare (DHW) has not purchased “porn literacy” materials and included them in sex-ed curricula for students.

☆ Russian law creates new hurdle for foreign plane lessors
▼ + stars: | 2022-03-14 | by ( ) www.reuters.com time to read: +4 min

Russian airlines have almost 780 leased jets, with 515 leased from abroad. Lawyers say a three-way legal battle between airlines, lessors and insurers could last for a decade. Major Russian airlines Aeroflot and S7 also declined comment. The Russian Federal Aviation Agency said 776 planes were registered abroad as of Feb. 24, the day Russia invaded Ukraine. Russia's state aviation authority recommended last week that airlines with foreign-leased aircraft suspend flights abroad, making it harder for lessors to make repossessions.

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