This article is based on an official press release from Lockheed Martin and additional industry data.

Sikorsky Restarts Heavy-Lift Production with New S-92A+ Variant

Sikorsky, a Lockheed Martin company, has officially commenced the production ramp-up of the S-92A+, the newest iteration of its heavy-lift helicopters. Announced on March 6, 2026, this move marks a significant restart for the S-92 program, driven by renewed global demand in the offshore energy and VIP transport sectors. The manufacturers has confirmed an initial production batch of five aircraft, with the first deliveries anticipated in 2028.

According to the company’s announcement, the decision to restart production follows the complete absorption of surplus S-92 inventory that accumulated during the 2020 market downturn. With the existing fleet now fully utilized, Sikorsky is pivoting to a new manufacturing strategy that splits operations between Connecticut and New York to meet future capacity needs.

Production Strategy and Timeline

Sikorsky has established a production capacity of up to 12 aircraft annually. The initial build cycle involves five helicopters: two have already been ordered by an undisclosed 14th country for Head of State transport, while the remaining three are being built on speculation (“spec”) to meet anticipated near-term market requirements.

The manufacturing process involves a strategic division of labor across Sikorsky’s facilities:

• Stratford, Connecticut: This facility will focus on the production of dynamic components, including the main gearbox, rotor blades, and drivetrains.
• Owego, New York: Final assembly will take place here. The Owego plant previously handled the assembly of the VH-92A presidential helicopters (“Marine One”) and is now transitioning its workforce and infrastructure to the commercial S-92A+ line.

Due to the complex supply chain and manufacturing requirements, the production lead time is estimated at 24 to 36 months, placing the first customer deliveries in 2028.

The S-92A+ helicopter is another example of how we are modernizing the fleet and transforming for the future, and we are building in surge capacity to meet expected demand.

, Rich Benton, VP and General Manager at Sikorsky

Technical Specifications: The S-92A+ Standard

Sikorsky has standardized all future production on the S-92A+ configuration. This variant integrates several performance and safety upgrades that distinguish it from legacy models. The previously discussed “S-92B” designation appears to have been consolidated into this new A+ standard.

Phase IV Main Gearbox

The most critical upgrade in the S-92A+ is the Phase IV main gearbox. This component replaces the previous magnesium housing with aluminum to enhance durability and repairability. More importantly, it features a new auxiliary lubrication system designed to address historical safety concerns.

According to technical details released by the manufacturer, this system allows the gearbox to continue operating safely for a certified period even after a complete loss of primary oil pressure. Sikorsky executives have stated that the gearbox has a minimum operating lifecycle of over 6,000 flight hours.

Performance Enhancements

In addition to the gearbox, the S-92A+ features upgraded General Electric CT7-8A6 engines. These powerplants are optimized for “hot and high” environments, providing better performance at high altitudes and temperatures. The aircraft also boasts a gross weight expansion to 27,700 lbs, which allows operators to carry an additional 1,200 lbs of payload or fuel compared to previous baselines.

The S-92 remains the aircraft of choice for Head of State, offshore energy and search and rescue operators who want the highest available flight-time helicopter… We haven’t had any damage to the [Phase IV] gearbox… and we’ve put it through some things that we weren’t planning to.

, Leon Silva, VP of Global Commercial & Military Systems

AirPro News Analysis: The Safety Context

The introduction of the Phase IV gearbox is a significant development for the S-92 program, directly addressing the “run dry” capability that has been a focal point for aviation safety regulators. The S-92’s lubrication system came under intense scrutiny following the 2009 crash of Cougar Helicopters Flight 91 off the coast of Newfoundland. In that incident, a loss of gearbox oil pressure led to a catastrophic failure before the pilots could land.

By investing over $100 million in the development of the Phase IV gearbox, Sikorsky is closing the loop on this vulnerability. The new auxiliary lubrication system is designed to ensure that if primary oil is lost, the backup engages immediately, keeping the gears lubricated long enough to execute a safe landing. This upgrade is not merely a performance booster; it is a critical safety redundancy that aligns the airframe with the most stringent modern certification standards.

Frequently Asked Questions

When will the new S-92A+ helicopters be delivered?
First deliveries are expected around 2028, due to a 24–36 month production lead time.

What is the difference between the S-92A+ and older models?
The S-92A+ includes the Phase IV main gearbox with an auxiliary lubrication system, upgraded GE CT7-8A6 engines, and a gross weight increase to 27,700 lbs.

Where are the new helicopters being built?
Dynamic components are manufactured in Stratford, Connecticut, while final assembly has moved to Owego, New York.

Why is Sikorsky restarting production now?
The company states that the surplus inventory of used S-92s has been fully absorbed by the market, creating a need for new airframes to support VIP transport and offshore energy sectors.

Sources: Lockheed Martin, FlightGlobal, Vertical Magazine, RotorHub International

This article is based on an official press release from Honeywell and accompanying SEC filings.

Honeywell Aerospace Initiates $16 Billion Debt Offering Ahead of 2026 Spin-Off

Honeywell International Inc. has officially launched a private offering of up to $16 billion in senior notes through its subsidiary, Honeywell Aerospace Inc. This significant capital restructuring move, announced on March 6, 2026, serves as a critical precursor to the planned separation of the aerospace division into a standalone publicly traded company.

According to the company’s announcement, the proceeds from this offering will primarily fund a cash distribution to the parent company, Honeywell International, prior to the spin-off. The separation is currently targeted for completion in the third quarter of 2026. Once independent, the new entity will trade on the Nasdaq under the ticker symbol HONA.

This financial maneuvering is part of a broader strategic transformation for the industrial giant, which is in the process of simplifying its conglomerate structure. By establishing independent capital structures now, Honeywell aims to ensure the aerospace business is fully operational and capitalized before it formally separates from the parent organization.

Details of the Capital Structure and Offering

The debt offering involves Honeywell Aerospace Inc., a wholly owned subsidiary, issuing senior notes to qualified institutional buyers. While the notes are currently guaranteed by the parent company, Honeywell International Inc., these guarantees are structured to dissolve upon the completion of the spin-off. At that point, the debt obligations will reside solely with the independent aerospace entity.

Credit Facilities and Liquidity

In addition to the $16 billion in senior notes, the subsidiary has secured substantial liquidity arrangements to support its operations post-separation. According to regulatory filings associated with the announcement, Honeywell Aerospace has entered into two key credit agreements:

• A $3 billion five-year senior unsecured revolving credit facility.
• A $1 billion 364-day senior unsecured revolving credit facility.

The company stated that the funds raised will also cover fees and expenses related to the spin-off and the offering itself, with any remaining amounts allocated for general corporate purposes.

“Honeywell today announced that, in connection with the previously announced plan to spin-off Honeywell Aerospace… [it] commenced a private offering of senior notes.”

, Honeywell Press Release

Strategic Context: The “Three-Way Split”

The creation of a standalone aerospace company is the second major phase of Honeywell’s “Three-Way Split” strategy, first unveiled in February 2025. The plan involves breaking the conglomerate into three focused sector leaders:

1. Honeywell Automation (RemainCo): Retaining the original HON ticker, this entity will focus on industrial automation and energy transition.
2. Honeywell Aerospace (HONA): The subject of the current debt offering, focusing on avionics, propulsion, and defense.
3. Solstice Advanced Materials (SOLS): Formerly the Advanced Materials business, which successfully spun off on October 30, 2025.

Jim Currier has been named as the President and CEO of the future independent aerospace company. Pro forma financial data for 2025 suggests the new entity will generate approximately $17.4 billion in net sales with an adjusted EBIT of roughly $4.3 billion, positioning it as a dominant pure-play competitor in the global aerospace and defense market.

AirPro News Analysis

The scale of this $16 billion debt issuance highlights the high confidence institutional investors likely have in the aerospace sector’s cash-flow generation. While loading a new spin-off with significant debt is a standard playbook for conglomerate breakups, allowing the parent company to extract value before exit, the leverage ratio will be a key metric for investors to watch.

With an estimated EBITDA margin of around 26%, Honeywell Aerospace appears well-positioned to service this debt. However, the “Rating Watch Negative” status placed on the parent company by major agencies like Fitch and S&P reflects the reality that the remaining Honeywell entity will lose a significant portion of its diversification and profit engine once the aerospace division departs in late 2026.

Sources

Sources: PR Newswire (Honeywell Official Release), Honeywell Investor Relations (SEC Form 10)

This article is based on an official press release from AJW Group.

AJW Group Secures A330 Support Contract with ASL Aviation Holdings

AJW Group, an independent specialist in aircraft component parts and supply chain solutions, has officially announced a new support contract with ASL Aviation Holdings. According to a press release issued on March 4, 2026, the agreement covers the support of two Airbus A330ceo (Current Engine Option) aircraft operated by ASL Airlines Ireland.

This new deal marks the renewal of a strategic partnership between the two aviation entities. Previously, AJW Group provided support for ASL’s fleet of Boeing 737 Classic aircraft. The current agreement focuses on airframe-only support and is structured on a Time and Materials (T&M) basis, designed to offer operational flexibility while ensuring access to AJW’s global inventory hubs.

The contract has been signed for an initial four-year term. It signifies a continued expansion for ASL Aviation Holdings as they integrate widebody aircraft into their predominantly narrowbody fleet, leveraging AJW’s logistics network to minimize downtime.

Contract Structure and Operational Scope

While AJW Group markets this agreement under its broader “Power-by-the-Hour” (PBH) portfolio, the specific commercial terms operate on a Time and Materials basis. This distinction is significant for fleet operators managing smaller sub-fleets.

Time and Materials vs. Fixed Rate

In a standard Power-by-the-Hour arrangement, airlines typically pay a fixed hourly rate to cover all unscheduled maintenance events, providing budget predictability. However, under the T&M terms specified in this announcement, ASL Airlines Ireland will pay for specific services and components as they are utilized. This structure allows the airline to retain the logistical benefits of a PBH contract, such as guaranteed access to spares and engineering expertise, without committing to a flat rate that may not be cost-efficient for a fleet of just two aircraft.

Airframe-Only Support

The agreement is strictly limited to “airframe-only” support. In aviation maintenance terminology, this generally covers structural components, avionics, and rotable parts, but explicitly excludes the engines and often the Auxiliary Power Unit (APU). These high-value assets are typically covered under separate agreements with original equipment manufacturers (OEMs).

Executive Commentary

Both companies expressed optimism regarding the renewed collaboration, citing their previous successful history with the Boeing 737 Classic program.

Scott Symington, Chief Commercial Officer at AJW Group, highlighted the alignment between the contract structure and ASL’s operational needs:

“AJW’s partnership with ASL is built on trust and our shared commitment to operational excellence, and we’re excited to be working with them again. Supporting two A330ceo aircraft aligns well with AJW’s expertise and growth, and this agreement allows us to provide flexible, effective support to meet their operations.”

, Scott Symington, Chief Commercial Officer, AJW Group

Colin Grant, Chief Operating Officer of ASL Aviation Holdings, emphasized the confidence the group places in AJW’s support capabilities:

“Having AJW supporting these aircraft gives us confidence in the ongoing operation of our A330ceo fleet. Their airframe-focused approach fits well with our operational requirements, and we look forward to working closely with their team as this programme develops.”

, Colin Grant, Chief Operating Officer, ASL Aviation Holdings

AirPro News Analysis

Strategic Fleet Evolution: The inclusion of Airbus A330ceo aircraft in ASL’s fleet represents a notable shift for the operator, which is globally recognized as the largest operator of Boeing 737-800BCF (Boeing Converted Freighter) aircraft. The move into the widebody segment suggests ASL is targeting longer-range routes and higher-capacity cargo operations, potentially to serve major integrator clients like DHL or Amazon who require intercontinental reach.

The Logic of T&M for Small Fleets: Opting for a Time and Materials contract rather than a full PBH rate is a calculated financial decision. For a small sub-fleet of only two aircraft, the statistical variance in component failure makes a fixed hourly rate difficult to price competitively for both parties. A T&M model mitigates risk for the provider while giving the operator “pay-as-you-go” flexibility, all while maintaining the critical safety net of immediate parts availability.

Frequently Asked Questions

What is the difference between A330ceo and A330neo?
The “ceo” stands for “Current Engine Option,” referring to the original generation of the Airbus A330 family. The “neo” (New Engine Option) refers to the updated version with more efficient engines and aerodynamic improvements. ASL is operating the ceo variant.

What does “Airframe-only” mean in this context?
It means the support contract covers the aircraft’s body, wings, landing gear, and internal systems (avionics, hydraulics), but excludes the engines, which are usually maintained under a separate contract with the engine manufacturer.

Where is AJW Group located?
AJW Group is headquartered in Slinfold, United Kingdom, with significant maintenance facilities in Montreal, Canada (AJW Technique).

Sources

• AJW Group Press Release