NAFA's 48th Annual Conference a Great Success! see more
Ft. Lauderdale, FL., March 3-6, 2019 – #NAFA48 - The National Aircraft Finance Association (NAFA) held its 48thAnnual Conference March 3-6, 2019. With 108 companies in attendance, and over 200 attendees, the conference was a great success. The conference was held at the Marriott Harbor Beach in Ft. Lauderdale, Florida. The four-day event included a 1-day NAFA Aircraft Education Program, Annual Business Meeting and a wide array of aviation and finance-specific Sessions.
NAFA announced new officers for the next year, with Jim Blessing assuming the role as president, succeeding Ford Von Weise. Additionally, Jim Simpson will become vice president. NAFA also welcomed industry veteran Ed Medici to the Board of Directors.
“The 48thAnnual Conference reflects a continued commitment by NAFA to raise the bar, with economic and business thought leaders, aviation industry experts, and seasoned veterans in the finance community,” said Jim Blessing president of NAFA. “Engaging discussions about the future of the aviation industry, workforce shortages, the approaching ADS-B deadline, and new aircraft entering the marketplace highlighted the event.”
Keynote speaker this year was Geoff Colvin, Acclaimed Author & Senior Editor, Fortune Magazine. He spoke about Leading Ahead of What’s Next – The New Rules of Business.
Economic Analyst, Dr. LaVaughn M. Henry, spoke to the audience about The Status & Outlook of the U.S. Economy & Monetary Policy.Dr. Henry is a policy analyst for the Federal Deposit Insurance Corporation (FDIC) and Former Vice President of the Federal Reserve Bank of Cleveland.
Conference participants also included Mark Baker, President of the Aircraft Owners’ & Pilots’ Association, Steve Brown, COO of the National Business Aviation Association, Gary Dempsey, President of the National Air Transport Association, and representatives from a wide variety of aircraft manufacturing and aviation service organizations.
NAFA would like to thank the conference sponsors:
- Platinum Sponsor– Embraer – host of the Welcome Reception along with an Open House and Static Display a their Fort Lauderdale facility.
- Gold Sponsors– AIC Title Service, Aircraft Bluebook, AOPA Finance, Global Jet Capital, Insured Aircraft Title Service, JSSI Advisory Services, Rolls Royce and Wright Brothers Aircraft Title.
- Silver Sponsors– Aero-Space Reports, Aircraft Guaranty-Corp, AirFleet Capital, Aviation Management Systems, Essex Aviation, LL Johns Aviation Insurance, Salem Five, Scope Aircraft Finance, and V-Ref Aircraft Value Reference.
- Bronze Sponsors– Aviation Legal Group, Asset Insight, Bank of America/Merrill Lynch and Stevens Aerospace and Defense Systems.
NAFA’s 49thAnnual Conference is to be held in Napa Valley, California April 28 through May 1, 2020.
The National Aircraft Finance Association (NAFA) is a non-profit corporation dedicated to promoting the general welfare of individuals and organizations providing aircraft financing and loans secured by aircraft; to improving the industry’s service to the public; and to providing our members with a forum for education and the sharing of information and knowledge to encourage the financing, leasing and insuring of general aviation aircraft. For more information about NAFA, visit the website at www.NAFA.aero
Embraer Bizjet Deliveries Hold Steady in Q1 see more
NAFA member, Embraer announces steady business jet deliveries in the first quarter.
Embraer delivered 11 executive jets in the first quarter, remaining on par with 2018 shipments. As in the first quarter of 2018, the Brazilian manufacturer handed over eight "light" jets (Phenoms) and three "large" jets (Legacys/Lineages) in the first three months of the year. Embraer, which delivered 91 executive jets last year, has projected shipments to fall between 90 and 110 executive jets this year.
While its business jet deliveries held steady in the quarter, Embraer's commercial aircraft shipments slid by three units to 11. Backlog, meanwhile, dipped slightly from $16.3 billion at the end of 2018 to $16 billion by the end of March.
The first quarter marked the 500th delivery of the Phenom 300, a milestone reached in less than 10 years after the aircraft first entered service in 2009—and one of the few current business jets to reach that delivery level. One of the most-delivered aircraft over the last decade, the Phenom 300 is in operation in more than 30 countries and has accumulated more than 780,000 flight hours.
Also in the quarter, Embraer announced it had captured the first Phenom 300E and Praetor 600 business jet sales to Brazilian customers. Its delivery lineup is slated to expand this year with Embraer recently receiving Brazilian ANAC approval for the Praetor 600.
Click here to download the 1st Quarter 2019 report.
This article was originally published by AINonline on May 6, 2019.
Boeing, Embraer Agree To Terms on Commercial JV, Propose Second JV for KC-390 see more
Boeing and Embraer have approved the terms of a strategic partnership that will give Boeing an 80 percent stake in Embraer’s commercial aircraft and services operations through a joint venture, the companies announced through a joint press release today.
Boeing said it will pay $4.2 billion, up from $3.8 billion, for the ownership stake in the JV, which still requires approval by the Brazilian government.
“We are confident that this partnership will deliver great value to Brazil and the Brazilian aerospace industry as a whole,” said Embraer president and chief executive officer Paulo Cesar de Souza e Silva. “This alliance will strengthen both companies in the global market and is aligned with our long-term sustainable growth strategy.”
Under the agreement that values the JV at $5.25 billion—up from $4.75 billion when the JV was proposed through a memorandum of understanding on July 5, according to analysts at Bank of America Merrill Lynch—the JV will be led by management based in Brazil, including a president and chief executive officer. Boeing said it will have operational and management control of the “new company” that will report to Boeing chairman and CEO Dennis Muilenburg.
“Boeing and Embraer know each other well through more than two decades of collaboration, and the respect we have for each other and the value we see in this partnership has only increased since we announced our joint efforts earlier this year,” Muilenburg said.
Embraer will have consent rights for certain strategic decisions such as transferring operations from Brazil, the companies said.
Boeing said the proposed JV is expected to be neutral to its earnings per share in 2020 but accretive thereafter.
Embraer and Boeing also said they have agreed to terms of another JV to promote and develop new markets for Embraer’s KC-390, a multi-mission, medium-lift airplane. Terms of that JV call for 51 percent ownership by Embraer and 49 percent by Boeing.
The companies hope to close the commercial JV transaction by the end of 2019, which awaits approval from Brazil’s government, Embraer’s board of directors as well as shareholders and regulators.
The announcement comes days after a Brazilian appeals court overturned a December 5 ruling by a federal judge in São Paulo granting an injunction to block Embraer’s board of directors from approving the proposed deal.
This article was originally published on AINonline on December 17, 2018 by Jerry Siebenmark.