ARC NEWS
​Airlink receives four E175s from Falko
September 18, 2024
Falko has completed the delivery of four Embraer 175 aircraft on lease to South African carrier Airlink. The lessor says the aircraft were delivered on behalf of its managed fund, Falko Regional Aircraft Opportunities Fund II. It adds that the first two deliveries concluded in the fourth quarter of 2023 and the final two deliveries in August and September this year. Airlink now operates E170, E175 and E190 aircraft from Falko's managed portfolio, it notes.


Air Canada reaches tentative deal with pilots, averts strike
September 17, 2024
Air Canada has agreed to a tentative four-year agreement with the Air Line Pilots Association (ALPA), narrowly averting a potential strike before a deadline of 15 September. The carrier had said that if an agreement was not reached with the association representing more than 5,200 pilots at Air Canada and Air Canada Rouge, either party may issue a three-day strike or lockout notice. "The new agreement recognises the contributions and professionalism of Air Canada's pilot group, while providing a framework for the future growth of the airline," states the carrier in a 15 September statement. Air Canada did not disclose the terms of the new agreement pending a ratification vote by ALPA members, which is “expected to be completed over the next month”. Meanwhile, ALPA states: "If ratified, the [tentative agreement] will generate an approximate additional C$1.9 billion ($1.4 billion) of value for Air Canada pilots over the course of the agreement." "After several consecutive weeks of intense round-the-clock negotiations, progress was made on several key issues including compensation, retirement, and work rules," says Air Canada ALPA master executive council chair, Charlene Hudy. "This agreement, if ratified by the pilot group, would officially put an end to our outdated and stale decade-old, ten-year framework."


Boeing agrees to pay Embraer $150m over joint-venture termination
September 17, 2024
Embraer and Boeing have concluded arbitration proceedings that followed Boeing's April 2020 termination of a master transaction agreement, under which the two companies intended to launch a joint venture comprising Embraer's commercial aviation business and a second joint venture to develop new markets for the C-390 Millennium military aircraft and air mobility aircraft. Boeing at that time said it was exercising its rights to terminate the deal "after Embraer did not satisfy the necessary conditions". Embraer in response said that Boeing had "wrongfully terminated" the agreement and "manufactured false claims", and subsequently sought damages against Boeing and commenced arbitration. Brazil-based Embraer notes in a 16 September US Securities and Exchange Commission filing that "pursuant to a collar agreement recently entered into between the parties, Boeing will pay the gross amount of $150 million to Embraer". Boeing says that it is "pleased to have concluded the arbitration process with Embraer". The US airframer adds: "More broadly, we are proud of our more than 90 years of partnership with Brazil and look forward to continuing to contribute to the aerospace industry in Brazil."


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