Signature Flight Support, the world’s largest FBO chain, has achieved carbon neutrality for 2022 across its entire global network that encompasses more than 200 locations.
For the year, the company countered the Scope 1 and 2 greenhouse gas emissions from all of its ground equipment, vehicles, and facilities, including electric power and natural gas heating. It accomplished this through internal investments such as the electrification of vehicles, energy efficiency, and installation of on-site solar power, as well as grid-based renewable energy. Carbon-credit purchasess offset the remainder.
Signature has also pledged to maintain carbon-neutral operations going forward and, as it works to cut back its own emissions, will aim to reduce the number of required carbon offsets to do so. Since 2018, it has slashed its company-wide emissions by 22 percent.
“We’ve set out to achieve ambitious emissions-reduction targets, and rather than just making promises we are proud to deliver real, quantifiable progress by becoming the first FBO to achieve carbon neutrality across its entire global network,” said CEO Tony Lefebvre.
The announcement comes as the operator makes its case to be selected as the next operator of the lone FBO at Aspen-Pitkin County Airport. The current operator’s lease will expire later this year, and the county revealed that Signature was one of seven service providers to issue a response to its request for proposals.
Canada-based Skyservice Business Aviation broke ground today on its FBO at Seattle King County International Airport/Boeing Field (KBFI). The company, which will soon add Vancouver to its roster of facilities north of the border, branched into the U.S. two years ago with the rebranding of the four Leading Edge Jet Centers in the Pacific Northwest.
With anticipated completion in early 2025, the facility will include a 21,000-sq-ft, two-story terminal featuring an atrium lobby with fireplace, conference rooms, crew lounge, snooze rooms, and flight-planning area. It will also include office space, a 1,600-sq-ft upstairs terrace overlooking Mount Rainer, and an outdoor patio.
The project will add a 50,000-sq ft-hangar that will be able to accommodate the largest under-development business jets, bringing the FBO to nearly 86,000 sq ft of hangar space.
The existing terminal along with an adjoining small hangar will be torn down to make room for the new facility. During the construction period, the FBO will operate from a temporary facility.
“Seattle is one of the fastest-growing cities in terms of population and hub to one of the world’s leading centers for technology and internet-based commerce,” said Skyservice president and CEO Benjamin Murray. “We are committed to working with the airport to upgrade and expand its infrastructure, focus on sustainable operations, and provide greater choice in the marketplace.”
One week ahead of releasing its 2022 financial results, Wheels Up announced that it is implementing a restructuring plan it expects to produce $30 million in annual savings. The company revealed the plan via an 8-K filing with the U.S. Securities and Exchange Commission on Wednesday.
In the filing, Wheels Up said the plan “is intended to streamline the company’s organization and reduce headcount in areas of the business that do not directly impact the company’s operations or its customers’ experience…Excluded from these actions were key operationally focused employee groups such as pilots, maintenance, and operations-support personnel.”
According to Wheels Up, the plan is designed to deliver “EBITA profitability” in 2024. The company said the savings would come primarily from cutting sales, marketing, and general administrative expenses relative to their levels in third-quarter 2022.
It said results from “substantial” implementation of the plan would be reflected in financial results in the second quarter and includes “certain discrete actions taken by the company in the fourth quarter of 2022.” Implementing the plans will cost an estimated $14 million spread between October and this month and are primarily related to “severance payments, employee benefits, and share-based compensation.”
For the first nine months of 2022, Wheels Up lost $276.5 million versus $121 million in the same period in 2021.
Gulfstream Aerospace celebrated the recent achievements of the soon-to-be-certified G700 earlier this week at its Manhattan Sales and Design Center. Guests mingled with Gulfstream president Mark Burns, senior v-p of worldwide sales Scott Neal, and director of demonstration and corporate flight operations Scott Evans. Greg Principato, CEO of the National Aeronautic Association (NAA), also attended the event.
The G700 recently completed a world tour that resulted in 25 speed records. NAA has been validating such records since the Kitty Hawk days.
As far as Gulfstream is concerned, speed records are mostly achieved as a service to customers. "This is to show our customers the capabilities of our airplane,” Evans said. “Ultimately, we want to take off just as they would on any given day and connect another point in space and destination the same way they would. And so, when they look at those city pairs for their own operations, they can know that the airplane has the ability to do what we at Gulfstream are telling them it will do."
Neal validated that the world tour allowed those customers to experience the aircraft—which according to Gulfstream has the widest, tallest, and longest cabin available on a business jet—firsthand in more than 20 countries. “It was a hit at every stop,” Neal said.
Gulfstream expects the ultra-long-range jet to enter service this year.
Access to parts, rental engines and competitive pricing: more reasons why EAP says you should have your engines on an hourly maintenance program
Maintaining your engines helps you maintain the value of your aircraft, but Engine Assurance Program (EAP) knows hourly engine programs offer even more power to operators. With aircraft utilization at close to record levels, there’s increased competition for the already limited resources needed to keep engines in peak condition. That’s where enrolling on a program can save the day.
The FAA has issued AD 2023-03-06, prohibiting autopilot and autothrottle operation below 400 feet when near 5G C-band interference in Bombardier Global Express, XRS, 5000, 5500, 6000, and 6500 jets. It also prohibits dispatch with certain weight-on-wheels CAS messages.
Taking effect on March 13, the AD specifies that the autopilot/autothrottle restrictions apply only “when in the presence of 5G C-band interference as identified by notams.” Transport Canada issued a similar AD on Nov. 4, 2022.
Both the FAA and Transport Canada had published earlier, non-aircraft-specific ADs that limited operations that require radar altimeter data during low-visibility conditions. But Transport Canada continued examining 5G effects on Bombardier jets and, according to the FAA, “Bombardier has determined that 5G C-band interference can result in unavailable or misleading radio altimeter information” that could cause performance problems with the automatic flight control system.
FBO operator Odyssey Aviation has acquired Golden Isles Aviation, the lone service provider at resort-area McKinnon St. Simons Island Airport (KSSI) in Georgia. The FBO—a member of the World Fuel-sponsored Air Elite Network—will retain its name, and Larry Wade, its president and CEO will join Odyssey as a partner and member of its board of directors. The purchase was funded by private equity firms Granite Creek Capital Partners and Everside Capital.
The facility includes a 6,000-sq-ft terminal with an atrium lobby exhibiting a suspended restored biplane, pilot lounge and snooze room, crew showers, full kitchen, flight-planning room, 10-seat conference room, and covered rampside wrap-around porch. The Phillips 66-branded location also offers 70,000 sq ft of hangar space that can accommodate aircraft up to a Dassault Falcon 2000.
“We are truly excited to add Golden Isles to our growing network of FBOs,” said Odyssey CEO Salvatore Calvino. “The people are what makes Golden Isles a great FBO, and we are grateful that industry icon Larry Wade has agreed to join Odyssey and add to our team of experienced aviation industry leaders.”
For Odyssey’s U.S. division, this will be its third location, joining its facilities in Florida at Kissimmee Gateway Airport and Detroit-area Willow Run Airport. It also works closely with Odyssey Aviation Bahamas and its four locations there.
S&P Global Ratings recently recognized two of Global Jet Capital’s (GJC) asset-backed security (ABS) transactions, placing them on CreditWatch with positive implications. The recognition for all tranches of notes in GJC’s BJETS 2020-1 and BJETS 2021-1 issuances underscores the stability of its portfolios, GJC said.
“We believe these ratings reflect the strong performance of Global Jet Capital’s highly diversified portfolio and the importance of business aviation for our client base,” said CEO Vivek Kaushal. GJC has issued some $3.6 billion of ABS notes, completing six transactions since 2018. These are collateralized by business aircraft loans through GJC's BJETS securitization program.
The positive ratings come as the business jet financier recently provided bullish results on several metrics in the business jet market in 2022. However, GJC did note that the industry’s resiliency could be tested this year if the global economy heads toward a recession.
Also, GJC highlighted some of its recent transactions in its fourth-quarter market briefing, including senior debt loans provided for a preowned Bombardier Global 6000 and Challenger 350, as well as an operating lease for a preowned Gulfstream G550.
An expansion of Flexjet Innovation and Career Center at Embry-Riddle Aeronautical University’s Research Park in Daytona Beach, Florida. Flexjet and Embry-Riddle launched the center in 2017 at the university’s John Mica Engineering and Aerospace Innovation Complex.
The center helps students learn more about career opportunities in business aviation and houses Flexjet-sponsored internships and is also available for student meetings. The expansion brings the space for center activities to 3,000 sq ft.
One plan for the expanded center is to build on internships for management information systems jobs by adding flight, safety, maintenance, and operations to those positions. Embry-Riddle students who have worked on Flexjet internships helped develop advanced demand modeling algorithms.
“In the past, those interested in aviation careers have looked to the airlines and the military,” said Flexjet chairman Kenn Ricci at the opening ceremony. “However, business aviation employs more individuals than the U.S. airlines, the Air Force, and the Air National Guard combined, and offers a wide range of opportunities to build challenging and fulfilling careers. Through the Flexjet Innovation and Career Center, we hope to offer educational and training opportunities to students at one of America’s leading aeronautical academic programs while informing them about careers in business aviation.”
Sustainability Question of the Week
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