ARC NEWS
​ALC delivers first of six A220s to Croatia Airlines
July 30, 2024
Air Lease Corporation has delivered a new Airbus A220-300 to Croatia Airlines. This is the first A220 to join the Balkan carrier's fleet, and the first of six being be delivered from ALC's orderbook with Airbus, the US lessor says. Cirium fleets data shows that the six include two A220-100s. Fleets data shows that Croatia Airlines' in-service fleet comprises four A319s, a trio of A320s and six De Havilland Canada Dash 8-400 turboprops. The airline has a total of 13 A220-300s on order, including the four it is taking from ALC. The others will be leased from Griffin Global Asset Management (six) and Azorra (three).


FAA announces third round of grants to improve airports
July 29, 2024
A Lufthansa Airbus A320-200, registration D-AIUJ performing flight LH-2263 from Marseille (France) to Munich (Germany), touched down on Munich's runway 26R. During roll out the nose gear rotated 90 degrees to the right at low speed disabling the aircraft on the runway. The aircraft skidded about 20 meters with the nose gear rotated before it came to a stop. The runway was closed for about 2 hours until the aircraft could be towed to the apron. The aircraft is still on the ground in Munich about 18 hours after landing.


Rex halts shares amid report of potential turnaround plan
July 29, 2024
Rex Airlines parent company Regional Express Holdings halted the trading of its shares before market opening on 29 July following reports that turnaround specialists had been appointed to assist the airline. An Australian Securities Exchange announcement shows that the halt was requested until 31 July or once a "material announcement in relation to a news article published on Saturday, 27th July" is made. That appears to be a reference to a report in The Australian newspaper that claims the company has appointed Deloitte partners Sal Algeri and Richard Hughes to advise it on a potential turnaround. Hughes and Algeri, alongside two other Deloitte partners, were appointed as administrators of Virgin Australia in April 2020, under which they were able to restructure and sell the airline Deloitte referred all enquiries to Rex. The report comes amid a boardroom dispute at the carrier after former executive chairman Lim Kim Hai lodged a request for a shareholder meeting on 8 July, seeking to remove four directors including chairman John Sharp and install two other directors. Lim had been the executive chairman of the company for 21 years until 5 June when Rex announced that chief operating officer Neville Howell would become its chief executive, while Sharp was elevated from deputy chair to non-executive chairman. Rex halved its loss before tax in the six months to December 2023 to A$2 million ($1.31 million) from A$15.7 million in the previous corresponding period, as the previously regional-focused airline continued to grow its Boeing 737 fleet and the expansion onto domestic trunk routes. Despite predicting revenue growth for the fiscal year ended 30 June, the airline did not provide any profit guidance, and has remained tight-lipped about its financial performance. Fleets data shows that Rex has nine 737-800s and 38 Saab 340Bs in operation, and a further 19 of the latter in storage. Rex also operates in Australia's charter market through wholly-owned subsidiary Pel-Air, and a 50% shareholding in National Jet Express.


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