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Airlines

Name: AEROTURBINE
7JetSet7 Code: AUB
Status: Operational
Region: NORTH AMERICA
City: MIAMI
Country: USA
Employees 7
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Email:
Telephone:
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Background
(definitions)

JET AIRPLANE LEASING COMPANY. ALSO PROVIDES JET AIRPLANE MAINTENANCE REPAIR AND OVERHAUL (MRO) SERVICES.

JANUARY 2000: 1 DC-9-32 (47520), EX-CONTINENTAL AIRLINES (CAL). 1 737-200, & 6 DC-9-30'S, EX-AIRTRAN (CQT).

MARCH 2000: 737-200 (19074), EX-AIRTRAN (CQT), SOLD TO AIR MEDITERRANEE CORSE (AMV).

December 2002: 2 DC-8-73F's (46045; 46062) PARTED OUT.

JUNE 2000: 1 727-243 (1394-21661, /78 51 33, N10408), EX-
CONTINENTAL AIRLINES (CAL). DC-9-32 (47539), EX-(CAL), LEASED TO AEROPOSTAL (LAV).

SEPTEMBER 2000: 1 737-269 (21206), EX-FAUCETT (FCT).

DECEMBER 2000: 1 737-269 (21206), SOLD TO WESTJET (WJI).

AUGUST 2001: 1 DC-9-51 (47728), EX-(TWA)/(TBC) PARTED OUT.

OCTOBER 2001: 2 727-200'S EX-FOCUS AVIATION (FOS) ON BEHALF OF (TWA). (FOS) NOW SOLD 12 727-200'S TO AEROTURBINE (AUB).

August 2002: 8 DC-9-51's (47654; 47658; 47661; 47662; 47689; 47726; 47735; 47764), ex-Hawaiian Airlines (HWI).

October 2002: 727-243F (1394-21661, PP-BLR), leased to (FLF).

February 2003: Buys 7 DC-8-70F's (45812; 45941; 45974; 45975; 45977; 45983; 46039) (CFM56-2C1) from Emery Worldwide (EAF).

April 2004: 2 DC-8-71F's (313-45897, N797UP; 400-46014, N713UP), bought from United Parcel Services (UPS).

December 2005: MD-81 (48032, N806ME), ex-Midwest Airlines (MWX).

March 2006: AerCap (DEA), a major airplane lessor and financier based in the Netherlands, said it signed an agreement to acquire Miami-based AeroTurbine (AUB) for an undisclosed price. AeroTurbine (AUB) specializes in aftermarket commercial airplane engine and parts sales and holds an (FAA)-approved Certified Repair Station license to support its engine leasing and trading activities. It was founded in 1997 by (CEO), Nick Finazzo and (COO), Robert Nichols, who will remain in their current positions, according to AerCap (DEA). "AeroTurbine (AUB)'s expertise with engines and airframe parts will complement our airplane leasing and management expertise and will allow us to create additional value for our customers and shareholders," AerCap (DEA) (CEO), Klaus Heinemann said.

737-269 (21206), bought from WestJet (WJI).

May 2006: AerCap Group (DEA) said it completed a $346 million credit facility with a consortium of banks led by Calyon. The facility was raised from $275 million owing to strong market demand. AerCap (DEA) will use the five-year facility to finance a portion of the acquisition and planned expansion of its newly acquired subsidiary AeroTurbine (AUB).

MD-81 (48033, N807ME), bought from Midwest Airlines (MWX).

July 2006: AeroTurbine (AUB) named Michael King, Senior VP Material Sales.

December 2006: 767-277 (32-22694, N767AT), leased to and painted in Gadair European Airlines colors but then stored at Goodyear.

May 2007: Component Control said AeroTurbine (AUB), a subsidiary of AerCap (DEA), selected its Quantum Control ERP software to manage its airplane and engine aftermarket parts sales, maintenance, repair and overhaul operations.

October 2007: AerCap (DEA) announced that subsidiary AeroTurbine (AUB) promoted Senior VP Materials, Michael King to the newly created position of President reporting to AeroTurbine (AUB) CEO, Nicolas Finazzo.

January 2008: DC-8-73F (46086, N870TV), sold to BETA (BRQ).

April 2008: AerCap Holdings (DEA) subsidiary, AeroTurbine (AUB) reached a 10-year deal with British Airways (BAB) for the purchase, sale and lease of components including wheels and brakes for 737, 757, 767, 777, and 747-400 airplanes. The contract calls for a 6 to 10-year leaseback in line with (BAB)'s fleet renewal plans, as well as strategic worldwide wheel and brake positioning to support daily flight operations and maintenance.

February 2009: AerCap Holdings (DEA) subsidiary, AeroTurbine (AUB) will supply Aveos (formerly (ACTS) Air Canada Technical Services) with engine and airframe components under a five-year lease agreement. The contract calls for acquisition and leasing of certain A320 and 737 rotables as well as additional inventory for Aveos to position at various locations worldwide. Under a separate five-year deal, Aveos will provide (AUB) with Maintenance Repair & Overhaul (MRO) on (CFM56-2)s, (CFM56-3)s and (CFM56-5)s.

March 2009: AerSale is the name of a new company that will focus on "the mid-life current technology airliner aftermarket." It was founded by Nick Finazzo and Bob Nichols, co-founders and sole shareholders of Miami-based AeroTurbine (AUB), a provider of aftermarket airplane engines and parts that they sold to Amsterdam-based operating lessor AerCap (DEA) in April 2006. AerSale will acquire airplanes 12 to 25 years old that are on lease or can be re-marketed "with the intent to eventually disassemble such airplanes" for parts and engines.

February 2010: AerSale of Florida announced the acquisition of 44 DC-8-71F/-73F freighters, the accompanying (CFM56-2C1) engines, spare parts and tooling and a Level D, DC-8-70 series flight simulator from an unnamed seller thought to be (UPS) Airlines, which retired its fleet of 44 DC-8s last year. AerSale (CEO), Nicolas Finazzo said it "is only the first of several large-scale multi-fleet acquisitions included in our 2010 forecast." According to (COO), Robert Nichols, AerSale now "can effectively service the remaining DC-8-70 fleet despite its limited future. However, strategically the real value comes from the parts value of the engines." AerSale said it is "positioned to become the leading provider of aftermarket (CFM56) material."

April 2010: AerCap Holdings (DEA) subsidiary AeroTurbine (AUB) reached a 10-year deal with Chromalloy Gas Turbine to provide supply chain management services for Chromalloy-owned surplus engine/APU material. Initial inventory selected includes more than >50,000 line items of (CFM56), (CF6), (PW4000), (PW2000), (V2500), (JT8D), various whole (APU)s/(APU) piece parts and ground power engine piece parts.

May 2010: AerCap Holdings (DEA) subsidiary AeroTurbine (AUB) reached a three-year management agreement with Airinmar to partner with the repair vendor as an extension to its supply chain solutions. The agreement covers Information Technology (IT) systems integration, visibility of the supply chain, vendor performance management, warranty management, reliability and value engineering. AeroTurbine (AUB) retains final vendor selection responsibility.

January 2011: AerCap Holdings (DEA) subsidiary, AeroTurbine (AUB) reached an agreement to amend its credit facility, increasing total commitments available from $328 million to $425 million and allowing for additional newer-generation airplanes and engine types as eligible collateral under the facility. The credit facility amendment was led by Credit Agricole Corporate and Investment Bank.

August 2011: International Lease Finance Corporation (ILF) has agreed to acquire AerCap Holdings (DEA) subsidiary, AeroTurbine (AUB) for $228 million. (ILFC) said the acquisition will “provide synergies and allow (ILFC) to realize more value from its fleet portfolio,” as well as “maximize the value in the remaining life and ultimate disposition of airplanes and provide a tool to optimize future airplane portfolio and operational acquisitions.” Closing is expected in the coming months.

Miami-based AeroTurbine (AUB), acquired by AerCap (DEA) in 2006, focuses on engine leasing and trading, airframe and engine dis-assembly, aviation supply chain solutions, part sales and Maintenance Repair & Overhaul (MRO) services and offers access to a large pool of certified airplane engines, parts, and supply chain solutions.

Previous to the acquisition, (ILFC) sought to sell airplanes on lease prior to their end-of-life phase, pursing part-out options on “only a small number of airplanes.” Now the acquisition “offers a new compelling strategic solution to maximize value across the complete life cycle of an airplane,” said (ILFC) (CEO), Henri Courpron.

January 2012: Aeroturbine (AUB) Director of Maintenance, Ronnie Ali left to become General Manager of (PAS) Technologies, Miramar, Florida.

February 2012: AeroTurbine (AUB) has a three-year supply chain agreement to support pool access for (CFM56-5B) engine (LRU)s for the fleets of third-party customers of Czech Airlines Technics, including (CSA) Czech Airlines and Holidays Czech Airlines.

AeroTurbine (AUB) was awarded a renewal agreement for the support of (CF6-80C2) engine material with Evergreen Aviation Technologies.

April 2012: AeroTurbine (AUB) (ILFC) was selected by Moog to provide global logistics support for its total support and asset support programs on the 787, 747-800 and A350XWB. The contract includes 24/7/365 warehousing to support Moog's global pool support customers.

February 2013: AeroTurbine (AUB) was selected by Precision Conversions as its third approved airplane modification and installation facility. It will provide 757-200PCF freighter and 757-200PCC combi modifications as well as regular maintenance checks, airplane painting and avionics modifications.

April 2013: Aeroturbine (AUB), an (ILFC) (ILF) subsidiary, has secured a material supply agreement from Honeywell (SGC) to provide aftermarket support and on-the-shelf availability for select material in its Mechanical Line of products.

June 2013: International Lease Finance Corporation (ILFC) subsidiary, AeroTurbine (AUB) has signed a consignment material stock agreement with Engineering Holding, which does Maintenance and supplies parts for western airplanes in Russia and is the parent of S7 (SBR) Engineering and Sibir Technics.

May 2014: China Southern Airlines (GUN) the largest operator in both Asia and the People's Republic of China, has signed a purchase agreement for 80 A320 family airplanes, comprising 30 A320ceos and 50 A320neos. The current list value is $7.3 billion. According to Airbus (EDS), the airplanes are slated for delivery from 2016 to 2020.

(GUN) will be leasing 24 Airbus A320neo Family airplanes from AerCap Holdings (DEA). The airplanes are due for delivery between 2016 and 2019 and will be powered by Pratt & Whitney (PRW) (PW1100G-JM) engines. AeroTurbine (AUB), (DEA)'s after-market subsidiary, has also agreed to purchase four older airplanes back from (GUN). These will be disassembled and parted-out.

December 2014: San Diego, California, USA based the PACAVI Group has revealed it is spearheading a program to convert Airbus A320and A321 airplanes from passenger to freighter configuration. The conversions will be performed by AeroTurbine (AUB), a wholly owned subsidiary of AerCap (DEA), one of the world's largest airplane leasing companies.

The work will be carried out at AeroTurbine's Goodyear, Arizona facility, where it conducts passenger to freighter conversions on other airplane types, as well as providing maintenance repair & overhaul (MRO) services for A320s.

(CEO) Dr Stephen Hollman said "We view this as an exciting opportunity. There are currently about 600 freighters of the size category of the A320/A321 operating globally, and this market is set to grow rapidly in the coming years. Right now, the only products of of similar capacity are from Boeing (TBC) and we look forward to the opportunity to provide Airbus (EDS) and others with technologically advanced freighters at a highly competitive price."

Airbus (EDS) canceled a similar program in June 2011, after deciding to focus on its airplane manufacturing business, but since then, demand has increased. Hoffman daid all the information required in order to acquire the Supplemental Type Certificate (STC) was publicly available. With clo0se collaboration with the (FAA) and (EASA) on the technical requirements, the PACAVI Group is forecasting commercial deliveries starting in 2017.

Fleet:
(definitions)

April 2016:

1 727-243 (JT8D) (1394-21661, /78, N10408), EX-(CAL) 2000-06, LST (FLF) 2002-10.

12 727-200 (JT8D), EX-(TWA)/(FOS).

1 737-269 (JT8D) (448-21206, /76 36 33, OB-1538), EX-(KUW)/(FCT), ST (WJI) 2000-12. BF (WJI) 2006-03.

0 737-200 (JT8D), EX-CQT 2000-01 (19074) ST (AMV) 2000-03.

1 767-277 (32-22694, N767AT), LST GADAIR 2006-12, WFU & STORED AT GOODYEAR.

3 DC-8-70F's (CFM56-2C1) (45812; 45941; 45974; 45975; 45977; 45983; 46039), EX-(EAF) 2003-02. 45812; 45974; 45975; 45988; PARTED OUT AT ROSWELL 2004-06.

2 DC-8-71F (313-45897, N797UP; 400-46014, N713UP), BF (UPS) 2004-04.

0 DC-8-73F (46062), SCRAPPED AT ROSWELL 2003-04.

0 DC-8-73F (46086, N870TV), ST BETA AIR (BRQ) 2008-01, EX-(N794FT). FREIGHTER.

6 DC-9-30, EX-(CQT) 2000-01.

1 DC-9-31 (JT8D-7) (400-47202, /68, N132NK), LST (ANS).

5 DC-9-32 (JT8D-7) (426-47318, /68, N913VV; 456-47322, /69, N909VJ; 509-47379, /69, N906VJ; 577-47443, /70, N915VV; 628-47486, /71, N914VV), LST (DAL).

1 DC-9-32 (635-47520, /71, N69523), EX-(CAL), LST (AUL).

1 DC-9-32 (47539), EX-(CAL), LST (LAV) 2000-06.

0 DC-9-51 (47728), EX-(TWA)/(TBC) 2001-08, PARTED OUT.

0 DC-9-51's (47654; 47658; 47661; 47662; 47689; 47726; 47735; 47764), EX-(HWI) 2002-08, ALL 8 PARTED OUT.

2 MD-81 (978-48032, N806ME, 2005-12; 988-48033, N807ME), EX-(MWX).

Management:
(definitions)

NICOLAS FUNAZZO, CHIEF EXECUTIVE OFFICER (CEO).

DR STEPHEN HOLLMAN, (CEO) AEROTURBINE (AUB) GOODYEAR (MRO), ARIZONA.

MICHAEL KING, PRESIDENT (2007-10).

KEVIN HILL, VP OPERATIONS (2003-01).

 
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