ARC NEWS
​BOC Aviation delivers final 737 Max 8 to TUI
July 06, 2021
BOC Aviation has delivered the seventh and final new Boeing 737 Max 8 aircraft on lease to TUI's UK subsidiary TUI Travel Aviation Finance. All aircraft are powered by CFM International Leap-1B engines, the Singapore-based lessor says in a 5 July press release. “Following the international recertification of the Boeing 737 Max aircraft, we delivered all seven aircraft to TUI in just four months, which reflects a high level of teamwork on both sides," states BOC Aviation managing director and chief executive Robert Martin. "We look forward to developing our relationship with TUI further and remain committed to providing our customers with large scale financing solutions as well as technologically advanced aircraft.” TUI Group managing director, fleet and asset management Tom Chandler states: "We are very pleased to have expanded our relationship with BOC Aviation through these financing transactions, agreed in two tranches August 2020 and October 2020, with the completion of the deliveries in time for the peak summer season." He adds: “We look forward to other opportunities to work with BOC Aviation in future. These additional Boeing 737 Max aircraft are a valuable addition to our fleet, characterised by considerably lower fuel consumption and noise emissions than the aircraft that they replace. This contributes to our aim to reduce the environmental impact of holidays and to maintain our top ranking among the world’s most carbon-efficient airlines.”


​EU regulators question Tarom's state-funded restructuring plan
July 06, 2021
The European Commission "has doubts" about a proposed restructuring plan for Tarom, under which the Romanian government would provide €190 million ($226 million) of funding and write off the carrier's prior €36.7 million rescue-aid debt. EU regulators have opened an "in-depth investigation" to assess whether the proposed Romanian support measures are in line with the bloc's state-aid rules. As part of the proposed restructuring plan, says the Commission, Tarom would renew its fleet and streamline its operations using €190 million of public funding from the Romanian government. This would take the form of a capital injection, a direct subsidy and a debt write-off of the €36.7 million of rescue aid that was approved as a temporary loan by European regulators early last year. "In order for restructuring aid to be approved, the plan must ensure that the viability of the company can be restored without continued state support, that the company contributes sufficiently to the costs of its restructuring, and that distortions of competition created by the aid are addressed through compensatory measures, including in particular structural measures," states the Commission. At this stage, it adds, "the Commission has doubts that the proposed restructuring plan and the aid to support it satisfy the conditions of the guidelines". As such, an investigation will be carried out to determine whether Tarom would "sufficiently contribute" to its restructuring costs, whether the plan can restore the airline's long-term viability, and whether there would be "appropriate measures to limit the distortions of competition". Wizz Air on 5 December brought action against the Commission's February 2020 decision to approve the €36.7 million state loan for Tarom. In documents filed with the European General Court, Wizz Air called for the decision to be annulled on the grounds that the rescue aid was not compatible with the Commission's rescue and restructuring guidelines.


​Wizz opens Rome base
July 05, 2021
Central European budget carrier Wizz Air has established a new base at Rome Fiumicino. Wizz Air says it will station four Airbus A321s in the Italian capital and launch 32 new services. The airline has within just over a year deployed 19 aircraft across Italy, where its network spans 261 routes to 91 destinations across 33 countries. Its Italian capacity has increased more than 80% since its first base in the country was established in spring 2020. Chief commercial officer George Michalopoulos states: "Our expansion in Rome underpins our commitment to continue investing in Italy and supporting Italy's economic recovery as well as offering consumers a wide range of affordable destinations at low fares. "In the last 12 months we have allocated 19 based aircraft to Italy, and will continue to invest in the market, doubling our presence in the next three years, launching further operating bases and new domestic and international routes. "Our brand-new A320neo-family aircraft as well as our enhanced protective measures will ensure the best possible sanitary conditions for travellers while operating with the lowest environmental footprint." The average age of aircraft in Wizz's Italy-based fleet is 0.9 years.


LOG ON

CONTACT
SGS Aviation Compliance
ARC Administrator
SGS South Africa (Pty) Ltd
54 Maxwell Drive
Woodmead North Office Park
Woodmead
2191
South Africa

Office:   +27 11 100 9100
Direct:   +27 11 100 9108
Email Us

OFFICE DIRECTORY
Find SGS offices and labs around the world.
The ARC is a mobile friendly website.