Image by the Luscombe Aircraft Corporation / luscombeair.com.JAMESTOWN – Chautauqua County Executive PJ Wendel has signed a long-term lease agreement with principals of Luscombe Aircraft Corporation to establish an aircraft production and sales business in a County-owned hangar at the County’s Jamestown Airport. Wendel says the new enterprise will create new manufacturing jobs and generate lease revenue to offset airport operating costs.“While the current public health crisis has dramatically curtailed the level of aircraft activity at the airports, we are actively planning for a rebound in private and business aviation activity once travel and related restrictions are lifted,” said Wendel. “Similarly, the County remains fully engaged with Boutique Airlines in a broad-based, community support campaign to restore commercial air service at the Jamestown Airport.”Luscombe Aircraft Corporation will be relocating their fledgling operations from Chino, California to Chautauqua County over the next several months. Concurrently, they will be undertaking improvements to the County’s leased hangar to equip the facility with utility infrastructure and building systems necessary to begin full scale aircraft production in the summer of 2020.Luscombe’s production relocation and start-up in Chautauqua County is being actively supported by the County of Chautauqua Industrial Development Agency (CCIDA), The Fredonia Technology Incubator at the State University of New York at Fredonia, and the Chautauqua County Department of Public Facilities’ Airports Division.Luscombe Aircraft Corporation was formed for the purpose of acquiring licenses, designs and other assets to produce modernized variants of the Luscombe Model 8, a venerable single-engine aircraft that went out of production in the early 1970s.Having acquired the FAA type certificates, tooling, new-old stock (NOS) parts and associated assets from the holding company that held the rights to the aircraft design, Luscombe set about identifying a site suitable for assembly, testing and marketing of its modernized designs.The CCIDA monitored the efforts of Luscombe principals as they worked to amass the resources and necessary licenses to produce aircraft.As Luscombe’s business aspirations developed into well-defined plans, CCIDA engaged company principals in market research, analysis of suitable regional supply chain partners, and ultimately steered company representatives to the County’s Jamestown Airport where alignment between Luscombe’s needs and the County’s available hangar resources were realized.Among the many factors cited by Luscombe’s management team in selecting Chautauqua County for its aircraft production facility is the workforce development resources nurtured through Jamestown Community College and SUNY Fredonia and a local manufacturing base with recognized skilled engineers and tradesmen.The establishment of an aircraft production facility at the Jamestown Airport follows closely on the heels of other business development at the County’s airports.In February, Centric Aviation took over operation of all core flight-line services at both the Jamestown and Dunkirk airports under separate lease-operating agreements signed with the County.Under those agreements, the county receives a fixed monthly rental fee as well as a percentage of gross revenues generated from fuel sales, aircraft de-icing and other services. Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window),If the County has leased out the airport’s and the hanger at Jamestown….where do the federal funds go that were passed as part of the CARE act? Seems odd that this is occurring all on the heels of government funds coming this way!
Denmark’s PKA, which runs three labour-market pension funds in the social and healthcare sectors, says it has made an investment return of nearly DKK1bn (€134m) on the sale of its stake in the Butendiek German offshore windfarm.The DKK250m pensions administrator said it sold the 22.5% stake in the windfarm, located near the Danish-German border, 32km from the island of Sylt, which it bought in 2013 when the project was at the planning stage.It sold the stake to a consortium led by Japan’s ITOCHU group. Peter Damgaard Jensen, PKA’s chief executive, said: “Normally, we would remain in this kind of infrastructure investment for the entire duration, typically 25 years. But we had the opportunity to make a solid profit for our members, and we grabbed it.” He said it had also been important for PKA, which has invested in five offshore windfarms including Butendiek, to establish that this type of alternative investment gives PKA’s 275,000 members a good return.Without disclosing the amount received for the stake, PKA said the deal had given it a return of almost DKK1bn.“Altogether, PKA has more than doubled the sum invested in just three years, and the investment in Butendiek has therefore achieved an annual return of around 25% for PKA’s members,” the firm said.In February 2013, PKA said it was investing DKK750m in the project.Damgaard Jensen said the high return crystallised from the deal meant it would continue to pursue its strategy of investing in alternatives.“And that could very well be a new offshore windfarm, where we can combine a good return with making a positive difference for the climate,” he said.The sale is subject to approval from competition authorities, PKA said.PKA invested in Butendiek in 2013 alongside Industriens Pension – which took the same size of stake as PKA – Siemens Financial Services, Marguerite Infrastructure Fund and WPD.The total equity and bank financing of the facility was around DKK10bn, it said.PKA has said it aims to invest around 10% of its total assets in projects that reduce the use of fossil fuels by 2020.
RelatedPosts Italy introduces compulsory virus testing for travellers from France Nigeria records new COVID-19 infections, more deaths as figures rise to 57,242 I was in best of forms before Tokyo Paralympics was postponed — Powerlifter Ejike Tokyo 2020 organisers said on Friday that work on the Aquatics Centre was finished in February, meaning that all the venues built for this year’s Olympics have been completed on time. The Aquatics Centre, which will host swimming and diving events at Tokyo 2020, was one of eight new venues built for the Summer Olympics, in addition to the athletes’ village. The National Stadium, which will form the centerpiece of the Games and host the opening ceremony on July 24, was completed ahead of schedule in November 2019. A total of 43 venues, including 25 existing facilities and 10 temporary venues, will be used at the Tokyo 2020 Games. This news comes at a time when the coronavirus outbreak has raised questions about whether the Games will be postponed or canceled, although the government has been insistent in recent days that the competition will begin as scheduled. International Olympic Committee President Thomas Bach has said that cancellation is not even being discussed. The flu-like coronavirus, which can be transmitted from person to person, originated in China late last year and has spread to more than 60 countries. Almost 91,000 have been infected and over 3,000 have died most of them in China. Earlier this week, Japan confirmed coronavirus infections rose above 1,000, most of them from a quarantined cruise liner. Twelve people have died in the country. Reuters/NAN.Tags: CoronavirusInternational Olympic CommitteeThomas BachTokyo 2020
BARCELONA (Reuters) – Liverpool manager Juergen Klopp said his team could not have played much better despite their 3-0 loss to a Lionel Messi inspired Barcelona in the Champions League semi-final first leg at the Nou Camp on Wednesday.“Football is like this. It is about scoring goals and they scored three and we scored none but the performance was really good, the boys played a super game to be honest but against a side like Barcelona, a few moments are enough to give them the opportunity,” Klopp said.“What can I say? I am really happy with the performance but of course not too happy with the result, we have to take that, that’s football and we know that. You don’t get grades, only a hard result and we have to accept that.”Liverpool went in 1-0 down at the break but after dominating the early part of the second half, Messi struck twice including a superb long-range free kick. Klopp’s side had their chances too with James Milner having two shots saved and Mohamed Salah striking the post.“That is how it is. How we created the moments was outstanding, how we caused them problems was outstanding, we controlled the game so well,” Klopp said.“We went in at halftime, analysed the half, told the boys what we can do better and what have to do it again. I don’t know if we can play it much better to be honest,” he said.“But then you have that one moment, the ball hits the crossbar….. and then Messi is there for an easy goal. Then a wonder strike again, that is how it is. That ball was obviously unsaveable,” Klopp added. “Barcelona showed they had more experience. We saw that in the moments when they stopped our rhythm, going down, but that’s part of the game,” the German said.Liverpool must now try to turn the game around at Anfield, an even harder task without an away goal. “3-0 is not the easiest result but we have another game (second leg) and our people will be there,” he said.