Fly Leasing sold nine aircraft with an average age of 13.5 years for a total of $78 million in the first quarter, generating a $6.5 million gain over net book value and contributing to a big increase in its first-quarter profit.

1. Performance Excellence Manufacturer: Huntsman Advanced Materials Applications: Huntsman Advanced Materials, part of the Huntsman family of companies, specializes in synthetics, adhesives and laminating systems for both aircraft manufacturing and repair. The company is just one of fewer than 600 suppliers to earn a 2012 Boeing Performance Excellence award. www.huntsman.com

As regional carriers readjust their maintenance needs and operations, a growing number of independent MROs are benefiting as new business comes their way.

The European Aviation Safety Agency (EASA) released an updated road map to tackle key aviation safety risks on Jan. 30.

Frankfurt Trent 1000 Interim Step

In previous years, PMA parts, OEM vs. MRO, or in-house vs. outsource issues arose. Those topics still come up.

Regional airlines are undergoing a period of change in everything from ownership and partner relationships to route systems and aircraft fleets.

The RB211 program bankrupted Rolls-Royce, forcing the U.K. government to step in and save the project and the company. Both recovered—Rolls-Royce is still delivering and developing engines, and the RB211 will go down as one of the most versatile and successful engine series of the jet age.