AerSale Shares Rise 12% After AerAware Gets FAA Approval
By Chris Wack
AerSale shares were up 12% to $15.92 after the company said the U.S. Federal Aviation Administration issued a Supplemental Type Certificate for AerAware, an enhanced flight vision system for the Boeing B737NG.
AerSale developed the AerAware certification program under license with Boeing, which included access to necessary technical services, maintenance, and engineering data.
The certification of AerAware is the result of a collaboration with Universal Avionics, an Elbit Systems company, which features the integration of ClearVision technology and an EVS-5000 multispectral camera providing heads-up capability to overcome low visibility both day and night.
AerSale hopes that AerAware will minimize the potential for delays, diversions, and cancellations, reducing the need for expensive alternate transportation/hotel arrangements and aircraft repositioning costs, ultimately benefiting both airlines and passengers. Additionally, a reduction in fuel burn is achieved when flights can avoid holding patterns while waiting for improved visibility to land.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 07, 2023 10:26 ET (15:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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