Modern Aviation has broken ground on a pair of hangars at its Republic Airport FBO on New York’s Long Island. The $27 million project at the former Sheltair facility—one of three service providers on the field—will add 71,200 sq ft of aircraft storage space and bring it to nearly a quarter-million square feet of aircraft shelter.

Both heated hangars will feature 28-foot-high doors to accommodate the latest ultra-long-range business jets. They will also incorporate sustainable features such as energy-efficient lighting and mechanical systems, above-code building insulation, and recycled materials.

The first hangar—expected to be completed in August 2024—will total 35,100 sq ft and has already been fully leased out to a customer. Meanwhile, the second 46,000-sq-ft hangar—slated to open in November 2024—will consist of two 20,000-sq-ft aircraft storage bays and adjoining offices. One side, with a 4,200-sq-ft office, has been leased to a customer, while the other side with 2,000 sq ft of tenant office space remains available.

“We are excited to begin the construction of our first hangars at Republic Airport since our acquisition last year,” said Modern CEO Mark Carmen. “This project will vastly increase our presence on the field.” He added that the company has the capacity to develop more hangars on the field, and it looks forward to partnering with the airport authority and New York DOT on similar projects in the future.

In leadership, the role of a leader transcends micromanaging every aspect of a task. It's more like a conductor steering an orchestra, understanding that the symphony's beauty emerges from the harmonious collaboration of diverse instruments and musicians.

When I think about leadership, I visualize a seasoned balloon seller at the fair. Their essence lies in ensuring that the balloons of various shapes and colors stay afloat yet tethered. Importantly, they rejuvenate those that lose air.

Similarly, a leader’s paramount duty isn’t to harbor all the answers or execute every task. Instead, they curate a team of experts, each proficient in their domain. This fosters a collective strength that propels the organization forward.

In business aviation, an adroit leader might mirror the corporation’s general counsel. He or she acknowledges their limitations and, rather than striving for authority, embraces the art of assembling a diverse cohort of experts. They recognize the significance of temporary expertise infusion, akin to calling in “pinch hitters” when needed, to elevate the team’s performance and resolve intricate challenges.

Wheels Up has added another $40 million to the $390 million term loan and $100 million revolving credit facility it received in September. The funds were provided by Kore Capital and managed by Whitebox Advisors.

These new investors join Delta Air Lines, Certares Management, Knighthead Capital Management, and Cox Enterprises, providing an additional term loan of $40 million under the existing credit agreement. In October, Wheels Up CFO Todd Smith told AIN that the company planned to seek up to an additional $50 million to the nearly $500 million loan/credit line combination it received in September.

"As discussed on our earnings call last week, we expect our cash balance at the end of the year will be flat to up versus third quarter levels, reflecting a stabilization of deferred revenue and working capital, the absence of the one-time transaction costs, and proceeds received from the additional term loan," said Wheels Up CEO George Mattson. During the third quarter, Wheels Up posted a loss of $145 million on $320 million in revenue.

In connection with closing the additional term loan, Wheels Up completed the second issuance of common stock to lenders on November 15. Lenders now hold shares equal to approximately 95 percent of the company's outstanding equity on a fully diluted basis as of September 15, after giving effect to such issuance.

Eyeing an upswing in the Middle East, business jet manufacturers came out in full strength this week at the 2023 edition of the Dubai Airshow. Gulfstream, Bombardier, Dassault, Embraer, Textron Aviation, and Pilatus were among those exhibiting at the show as they look to expand their reach into the growing market.

According to Honeywell Aerospace, the Middle East region has accounted for more growth in 2023 than any other and is forecasted to account for 6 percent of new jet deliveries over the next five years.

Gulfstream marked the Dubai Airshow debut of its new G700 flagship as the ultra-long-range aircraft is on the cusp of delivery. “Both our new aircraft sales and government/special missions teams were quite busy this week in Dubai,” the company said. “The G700 garnered particular attention. While here, we were able to build new relationships while also connecting with existing customers and partners throughout the region.”

Meanwhile, Bombardier brought its Global 7500 and Challenger 3500 to Dubai, and Dassault Aviation marked the 50th anniversary of partnering with the UAE at the airshow. Dassault brought along a Falcon 2000LXS, as well as its full-scale Falcon 10X cabin mockup. Among the other jets on display were the Pilatus PC-24 and Embraer Praetor 600. At the same time, Textron Aviation showed off the special mission capabilities of its turboprop and jet lines.

Speaking to media this morning in New York City, Embraer president and CEO Francisco Gomes Neto said the company is now reaping the harvest from the investments and changes it made in recent years. He pointed to the portfolio of new products the Brazilian manufacturer has introduced over the past decade in its commercial, defense, and private aviation markets.

This includes the E-Jets E2, the C-390 Millennium military transport, and, on the private aviation side, the Praetor family and upgrades to its Phenom light jets. Neto credits this modern portfolio with higher revenues.

He explained that Embraer currently employs a staff of 100 engineers committed to developing production efficiencies and cost reduction, which has allowed it to not only maintain margins on its products but even increase them in some cases. One of the company’s standing projects is to reduce the production time of its aircraft by 30 percent by the end of 2025.

“By the end of this year, even with the difficulties in the supply chain, we will be able to achieve almost 20 percent off the time of production,” Neto stated. Based on these factors, he expects company revenues to total $5.7 billion this year.

Antonio Carlos Garcia, the airframer’s CFO, said its executive aircraft division currently accounts for nearly 24 percent of Embraer’s $17.8 billion backlog.

CrewBlast, an app-based air crew staffing company, has enhanced its platform by integrating advanced identity verification technology. The company said this move, in partnership with IdRamp and Clear, introduces a new standard of security and efficiency.

Clear, which offers secure identity solutions across 55 U.S. airports, contributes its expertise to CrewBlast’s platform. The integration aims to streamline and secure the identity verification process for CrewBlast’s crewmembers and hiring operators.

"This integration reinforces our dedication to providing the best possible experience for crewmembers and operators while maintaining the highest standards of security," said CrewBlast founder and CEO Timothy Griffin.

According to CrewBlast, crewmembers will undergo rigorous identity verification when responding to trip requests. The app will incorporate identity verification seamlessly, minimizing disruptions and simplifying the process. Coupled with existing background checks, the addition of this verification layer assures users of robust security.

The new system is also designed to expedite the verification process, reducing time and effort for crewmembers to confirm their identities. Crewmembers and operators will experience a simplified verification method, requiring only a government-issued ID and a selfie for initial setup. Subsequent verifications will prompt users to take a selfie, leveraging the initial ID information for quick identification.