South African Airways : SA : SAA

STAMFORD, Conn., Dec. 17 /PRNewswire-FirstCall/ -- Aircastle Limited (NYSE: AYR) announced today that it has placed six new Airbus A330-200 aircraft on long-term leases with South African Airways PTY LTD. ("SAA"). This is Aircastle's first lease with SAA, one of the leading airlines in the world. The six aircraft will be equipped with Rolls-Royce Trent 772B engines and are scheduled to deliver during 2011.
Ron Wainshal, Aircastle's Chief Executive Officer, commented, "This important transaction with one of Africa's premier airlines highlights Aircastle's leadership in the industry and serves as another positive sign that the overall climate in aircraft leasing is improving. Specifically, the lease agreements illustrate the success of our Airbus A330 program. With this placement, we have secured high-quality customers for 11 of our 12 new Airbus A330 orders. In addition, we believe that we will be able to access multiple sources of attractive debt financing for these aircraft."
"The combination of improving industry fundamentals, the Company's strong financial and operating foundation as well as today's important transaction significantly strengthens our future growth prospects. With a well diversified portfolio of modern, in-demand aircraft with nearly 100% utilization in the third quarter, Aircastle is poised to pursue growth opportunities actively in 2010 and beyond. We look forward to capitalizing on these opportunities as we leverage our conservative capital structure, world-class team and proven ability to originate deals and source capital."
Summary of Aircastle's Airbus A330 program:

• Two new A330-200 aircraft delivered in May and December 2009 that are on lease to Avianca;
  
• Three new A330-200F aircraft have been committed for lease to a carrier in Asia, with two deliveries scheduled for the second half of 2010 and one delivery for mid-2011;
  
• Six new A330-200 aircraft are scheduled for delivery in 2011 and have been committed for lease to SAA; and
  
• One new A330 aircraft is scheduled for delivery in May 2012 and Aircastle is actively marketing it for lease.
  

About Aircastle Limited
Aircastle Limited is a global company that acquires, leases and sells high-utility commercial jet aircraft to airlines throughout the world. As of September 30, 2009 Aircastle's aircraft portfolio consisted of 128 aircraft and had 60 lessees located in 34 countries.
For more information regarding Aircastle Limited and to be added to our e-mail distribution list, please visit [Vous devez être inscrit et connecté pour voir ce lien].
Safe Harbor
Certain items in this press release and other information we provide from time to time, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to our ability to acquire, sell and lease aircraft, raise capital, pay dividends, and increase revenues, earnings and EBITDA and the global aviation industry and aircraft leasing sector. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "may," "will," "would," "could," "should," "seeks," "estimates" and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements; Aircastle Limited can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from Aircastle Limited's expectations include, but are not limited to, prolonged capital markets disruption and volatility, which may adversely affect our continued ability to obtain additional capital to finance our working capital needs, our pre-delivery payment obligations and other aircraft acquisition commitments, our ability to extend or replace our existing financings, and the demand for and value of aircraft; our exposure to increased bank and counterparty risk caused by credit and capital markets disruptions; general economic conditions and business conditions affecting demand for aircraft and lease rates; our continued ability to obtain favorable tax treatment in Bermuda, Ireland and other jurisdictions; our ability to pay dividends; high or volatile fuel prices, lack of access to capital, reduced load factors and yields and other factors affecting the creditworthiness of our airline customers and their ability to continue to perform their obligations under our leases; termination payments on our interest rate hedges; and other risks detailed from time to time in Aircastle Limited's filings with the SEC, including "Risk Factors" as previously disclosed in Aircastle's 2008 Annual Report on Form 10-K, and in our other filings with the SEC, press releases and other communications. In addition, new risks and uncertainties emerge from time to time, and it is not possible for Aircastle to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Aircastle Limited expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

STAMFORD, Conn., Dec. 17 /PRNewswire-FirstCall/ -- Aircastle Limited (NYSE: AYR) announced today that it has placed six new Airbus A330-200 aircraft on long-term leases with South African Airways PTY LTD. ("SAA"). This is Aircastle's first lease with SAA, one of the leading airlines in the world. The six aircraft will be equipped with Rolls-Royce Trent 772B engines and are scheduled to deliver during 2011.
Ron Wainshal, Aircastle's Chief Executive Officer, commented, "This important transaction with one of Africa's premier airlines highlights Aircastle's leadership in the industry and serves as another positive sign that the overall climate in aircraft leasing is improving. Specifically, the lease agreements illustrate the success of our Airbus A330 program.

With this placement, we have secured high-quality customers for 11 of our 12 new Airbus A330 orders. In addition, we believe that we will be able to access multiple sources of attractive debt financing for these aircraft."

"The combination of improving industry fundamentals, the Company's strong financial and operating foundation as well as today's important transaction significantly strengthens our future growth prospects. With a well diversified portfolio of modern, in-demand aircraft with nearly 100% utilization in the third quarter, Aircastle is poised to pursue growth opportunities actively in 2010 and beyond. We look forward to capitalizing on these opportunities as we leverage our conservative capital structure, world-class team and proven ability to originate deals and source capital."

SAA to lease two additional 737-800s; eyes two more widebodies

South African Airways (SAA) plans to lease two additional [Vous devez être inscrit et connecté pour voir ce lien]-800s this year to support growth of its African network and is also considering leasing two additional widebody aircraft to resume expansion of its long-haul network.
New SAA CEO Siza Mzimela says the Star Alliance carrier is looking to lease two widebodies in addition to the six [Vous devez être inscrit et connecté pour voir ce lien]-200s it plans to lease from early 2011. While SAA decided last year to acquire the A330-200s as replacements for its six [Vous devez être inscrit et connecté pour voir ce lien]-200s, she says the two additional widebodies would be growth aircraft.
"There's a possibility of bringing in two of them," she said during last week's Star Alliance event in Sao Paulo. "We will wait for the necessary approvals."
Mzimela says it is unlikely the two additional widebodies would be delivered this year as SAA does not expect to resume expanding its long-haul network, which was cut back during a 2007-2008 restructuring, until at least next year. "Most of our increases will come between 2011 and 2013. It's unlikely that it will happen now," she says.
However, Mzimela reveals the carrier plans to launch two new African destinations this year. She says the new routes, which she declines to disclose, will be operated with two additional 737-800s that SAA has agreed to lease.
With the two new leases the SAA group has committed to expanding its 737-800 fleet from 21 to 23 aircraft even through this aircraft type is now slated to be replaced by new [Vous devez être inscrit et connecté pour voir ce lien] A320s from 2013.
SAA last year re-committed to its 2002 order for 15 A320s and increased the order to 20 aircraft. When the order was first placed in 2002 the [Vous devez être inscrit et connecté pour voir ce lien] deliveries were scheduled to start in 2010. But as part of the re-negotiation concluded with Airbus last year the first delivery was deferred to 2013.
As SAA's 737-800 leases start expiring this year, with a majority of the leases set to expire in 2011 and 2012, Mzimela says they are being extended to match up with the delivery of the carrier's A320s. "We will renew them to coincide with the arrival of the A320s," she explains.
She says the leases SAA has forged covering the two additional 737-800s that will be delivered this year will be short term because these aircraft will eventually be replaced by new A320s from the 20-aircraft order.
SAA's narrowbody fleet currently consist of 11 A319s and 17 737-800s, according to Flightglobal's ACAS database. Another four 737-800s that were originally in SAA's mainline fleet are now leased by sister low-cost carrier Mango.
Mzimela confirms all of the 737-800s now operated by SAA and sister low-cost carrier Mango will be replaced by A320s. "Mango will be part of the A320 programme as well," she says.
ATI first reported last July that Mango expected to be part of SAA's anticipated A320 acquisition, which was subsequently firmed up in October. The low-cost carrier, which at one point considered keeping a 737-800 fleet even if SAA decided to switch to an all A320-narrowbody fleet, plans to grow its fleet from four to 10 aircraft within the next few years.

South African Airways (SAA) is planning a second phase-out its Boeing 747-400 fleet at the end of this year.

The Star Alliance carrier first grounded its remaining 747-400s in 2007 as part of a fleet and network restructuring. But while the grounding was initially intended to be permanent, SAA decided to [Vous devez être inscrit et connecté pour voir ce lien] in late 2008.SAA initially called the re-introduction of 747s a temporary measure but 747-400s have continued to operate in the carrier's network over the last 18 months.SAA's new CEO, Siza Mzimela, says the carrier is currently operating two
747-400s on its Johannesburg to Lagos and Luanda routes.

But she says the aircraft are now scheduled to permanently exit SAA's fleet "at the end of the year".

She acknowledges this represents a "re-phase out" of the 747 rather than an initial phase-out but explains: "You can't exit aircraft if you don't have a replacement."

SAA over the last few years has had to push back multiple times its plans to lease additional widebody aircraft.

The carrier is now scheduled to begin taking delivery in early 2011 of six new Airbus A330-200s which SAA last year agreed to lease.

While the A330-200s are mainly seen as a replacement for SAA's A340-200s the new aircraft will also allow the carrier to finally pursue a permanent phase-out of its 747s.

SAA at one point operated 10 747-400s but returned one batch of aircraft in 2006 and a second batch after the 2007 restructuring was initiated.

South African Airways commande à Airbus cinq A320

South African Airways a commandé à [Vous devez être inscrit et connecté pour voir ce lien] cinq moyen-courriers A320 (Airbus), ce qui s'ajoute à une précédente commande de 15 autres appareils du même type, a annoncé jeudi l'avionneur européen.
Selon les prix catalogue, le montant de la commande de ces cinq avions s'élève à 407 millions de dollars. Comme à son habitude, Airbus n'a pas dévoilé le prix de la commande dans son communiqué.
"South African Airways a commandé cinq Airbus A320 supplémentaires, augmentant une précédente commande et portant de 15 à 20 le nombre d'appareils de ce type" achetés par la compagnie, a indiqué Airbus dans un communiqué.
Les A320 doivent être livrés à partir de 2013, a précisé l'avionneur.
La compagnie sud-africaine South African Airways dispose déjà d'une flotte d'Airbus, avec 11 moyen-courriers A319 et 21 long-courriers A340

South African Airways has firmed its order for five additional [Vous devez être inscrit et connecté pour voir ce lien] A320s, and confirmed they will be powered by International Aero EnginesV2500s.

The aircraft were part of an augmented agreement for 20 A320s tentatively agreed last year, after SAA renegotiated an order for 15 of the type placed back in 2002.These 15 jets had originally been part of a deal for 41 Airbus aircraft.

SAA received nine [Vous devez être inscrit et connecté pour voir ce lien]-600s, 11 A319s and six A340-300Es covered by the order, but mistakenly believed it had cancelled the [Vous devez être inscrit et connecté pour voir ce lien] portion.

As part of the renegotiation the South African flag-carrier also agreed to lease six [Vous devez être inscrit et connecté pour voir ce lien]-powered A330s from lessor Aircastle.
SAA has six A340-200s which will be replaced as the A330s arrive.
The first [Vous devez être inscrit et connecté pour voir ce lien] is due in February 2011.
"Because they offers a seamless fit with the other Airbus aircraft types which we operate, the A320s will assist
in our efficiency drive and reduce maintenance costs," says SAA chief executive Siza Mzimela.
SAA stated in its annual report last year that it had increased the A320 order to 20 aircraft "at a total price that does not exceed the indicative value of the original order for 15 placed in 2002".
Airbus confirms the engine selection, which is inline with SAA's other Airbus A320-family jets, and says deliveries of
the A320s will begin in 2013.

Three African Airlines To Form New Carrier

Three of Africa’s leading airlines are in talks to establish joint ventures, and could launch their first collaboration in Central Africa early next year.
Details are still being negotiated, although the CEOs of Egyptair, Ethiopian Airlines and South African Airlines tell The DAILY they expect a formal announcement in the coming months. Egyptair Chairman and CEO Hussein Massoud also says the first venture should launch early next year.
All three executives were in Addis Ababa to celebrate Star Alliance’s formal acceptance of Ethiopian’s application to join the airline group. The three said they would discuss their proposed ventures after the event.
Central and West Africa are the group’s primary concern, and the first venture will be located in one of the six central nations—Cameroon, Central African Republic, Chad, the Democratic Republic of Congo, Equatorial Guinea and Gabon—because the region has a more advanced aviation sector, says SAA CEO Siza Mzimela.
Mzimela adds that this company will be a new airline, although she confirms that future ventures could include investment in existing airlines.
She also confirms that any new entity will focus on intra-African traffic. “There is little feed or de-feed in the region,” she notes. None, for now, will adopt a low-cost model, she adds.
Various business models are being considered, and while Ethiopian CEO Girma Wake noted the potential for direct investment akin to his airline’s involvement with Togo startup ASKY, Mzimela notes that their participation could include non-monetary support.
Egyptair’s Massoud also confirmed the airlines could provide aircraft from their own fleets, although he stressed that many options were still being discussed. “Africa is too big for five or six carriers,” says Wake. “The three of us are working together, so we can create a critical mass.”
The Star Alliance acceptance yesterday of Ethiopian is an “integral part” of Star’s expansion across the continent, which already includes Egyptair’s and South African Airways’ networks. “Demand will mainly stem from economic growth made possible by increasing political stability and creating a better business climate,” said Star CEO Jaan Albrecht. “Moreover, we will in future have three main hubs in Africa—Addis Ababa, Cairo and Johannesburg.”
Star’s CEO also noted an area in Central Africa that is unserved by Star, which he expects to be resolved by Ethiopian’s addition. This proposed expansion is in addition to the 24 new destinations Ethiopian brings to Star’s network.
This acceptance begins a 12- to 18-month process to integrate the airline into the alliance. Apart from Ethiopian, Star is also integrating Air India into the group, although this has been hindered by information technology issues.
Ethiopian’s integration will be aided by Lufthansa, which is mentoring the African carrier’s application.
“We are happy and honored to be invited to the big family of airlines,” said Ethiopian Airlines CEO Girma Wake during the news conference. “Our long experience in the Africa market, coupled with our strategic hub in Addis Ababa, and the recently created Lome hub [in Togo in partnership with ASKY] will allow Star Alliance members to access many new markets in Africa.”
Ethiopian is in talks with Egyptair and SAA to establish new airlines for some of these new markets, Wake told reporters during a Sept. 28 news conference at the airline’s headquarters.
Ethiopian’s acceptance comes just two days before Star founding member United Airlines formally merges with Continental Airlines, which joined the alliance late last year.