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Friday, August 02, 2013

AviTrader Daily Aviation News Alert

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Emirates reject Delta’s apology regarding Anderson’s 9/11 comments

February 20, 2015 · 541 Views

The bitter dispute between US- and Gulf-based airlines has reached a new level after Emirates flatly rejected an open apology made concerning what was seen as incredibly tactless and insensitive remarks made by Delta’s Chief Executive, Richard Anderson. The unfortunate incident relates back to comments made by a group of American airlines that a number of the larger Gulf carriers had benefited from state subsidies amounting to a figure in excess of US$40bn. As a consequence the American airlines either wanted to renegotiate or scrap the current Open Skies agreement.
Offended by such claims, the Gulf carriers retaliated by questioning whether or not US airlines had received government subsidies totaling US$5bn in the wake of 9/11. Unfortunately Delta’s Anderson, responding to this claim on CNN, said: “It’s a great irony to have the United Arab Emirates from the Arabian Peninsula talk about that, given the fact that our industry was really shocked by the terrorism of 9/11, which came from terrorists from the Arabian Peninsula.” While the UAE and Qatar, two of the States’ allies who have offered either military or logistical support for international operations were particularly upset by these comments, Delta simply made it clear that Anderson had been responding to claims regarding post 9/11 subsidies. “He didn’t mean to suggest the Gulf carriers or their governments are linked to the 9/11 terrorists. We apologize if anyone was offended.”
Unfortunately the largest of the three main Gulf carriers did not see this as acceptable. “We believe that the statements made this week by Mr. Anderson were deliberately crafted and delivered for specific effect,” it confirmed in a statement. However US airlines continue to complain that they have lost significant numbers of bookings since 2008 as a result of Gulf competition and cited documents they indicate demonstrate aid which has allowed their competitors to offer cheap fares. In retaliation, Gulf officials say that most US carriers do not fly the same routes and are losing business only because they offer an inferior service.
This is not a dissimilar situation to the one between Gulf airlines and European carriers, including Lufthansa, and coincidentally has come at the same time as US airlines are trying to have US Exlm Bank closed down. They believe Gulf carriers are benefitting to a greater degree from the export credit agency. The tit-for-tat dialog continues with Western airlines showing concern for the safety of thousands of service industry jobs, a complaint to which Gulf carriers have responded by making it very clear they support at least as many jobs in the aerospace sector with their huge orders for aircraft.


Snecma and HAL to create joint venture and build a new production facility in India

February 20, 2015 · 639 Views

Snecma (Safran), a leading manufacturer of aircraft engines, and Hindustan Aeronautics  (HAL), a leading aerospace manufacturer, signed a Memorandum of Understanding (MoU) on January 28th, 2015 in Bangalore to explore establishing a joint venture in India for the production of aero-engine parts.  The proposed joint venture will initially focus on the manufacture of high-tech parts for the Dassault Rafale’s Snecma M88 engine, then subsequently contribute to other major aerospace projects of HAL & Snecma, in India and worldwide. Spanning over 30,000 m², the proposed joint venture’s new plant is expected to benefit from substantial investment by the two partners, providing it with state-of-the-art machinery and equipment. This agreement marks a major step forward in the long-standing collaboration between Snecma and HAL. The proposed joint venture will further broaden the scope of the excellent relations established over the past 60 years between Safran affiliates and the Indian aerospace industry. For example, Snecma manufactures the M53 engines powering the Mirage 2000H “Vajra” fighters operated by the Indian Air Force.


Design flaws led to 787 battery fire

December 2, 2014 · 195 Views

On the 7th January 2013 a fire was reported on board a Boeing 787 Dreamliner while parked at Boston’s airport in the USA. The fire was put down to a problem with one of the plane’s lithium-ion batteries. A week later an All Nippon Airways 787 Dreamliner had to make an emergency landing after smoke was discovered inside the plane which was subsequently traced back to another lithium-ion battery. As a consequence of this incident, all 787 Dreamliners were grounded until April of that year until further acceptable testing and improvements were carried out to the battery system on board the plane. The battery itself was manufactured by GS Yuasa and comprised eight individual cells making up a combined weight of 63lbs.
Nearly two years later and the results of the investigation into the first incident have concluded that the lithium-ion battery installed in the plane should not have received certification by the FAA. The National Transport Safety Board (NTSB) were also critical of Boeing who they believed had erroneously ruled out the chances of thermal runaway in its assessment of the battery’s safety. Boeing’s battery tests to obtain original certification included crushing battery cells, driving nails through them and deliberately introducing short circuits to cause failure. Boeing found “nothing adverse happened” while these tests were carried out, and so deemed the battery’s box and internal protection to be of an acceptable standard. Boeing stated that it had followed the certification process set out by the FAA. It would seem that while the cause of the fire has been clearly identified, responsibility for its occurrence has not been accepted in full by anyone.


Rolls-Royce forced to axe 2,600 jobs after second profit warning this year

November 5, 2014 · 162 Views

Back in February this year, Rolls-Royce, the FTSE-100 engine maker, lost over £3bn of its value after shocking the market with its first profits warning in a decade. To announce a second one this October has created considerable concern and Rolls-Royce has decided that over the next 18 months they need to reduce costs by up to £80m a year by axing 2,600 jobs, the majority of which will be in the aerospace sector in Britain and the United States. The focus is on Rolls-Royce’s key Trent engines as they move from the development to the production phase, which consequently requires fewer engineers.
Back in February John Rishton, Rolls-Royce group’s Chief Executive, had admitted that the future was “bumpier than I had expected”, while blaming the current problems on deteriorating economic conditions and a tit-for-tat trade war between the EU and Russia over the Ukrainian crisis which had affected its nuclear and energy business as well as its power-systems unit. This week Rishton has had to admit that “We are taking determined management action and accelerating our progress on cost. The measures announced today will not be the last; however they will contribute towards Rolls-Royce becoming a stronger and more profitable company.”
Another consequence of the situation is the unexpected departure of Finance Director, Mark Morris, leaving the company after 27 year without any explanation. He will be replaced by David Smith, who is being promoted from Finance Director of the Rolls-Royce Aerospace division. This second profit warning saw share value fall 11% to 832p, wiping a further £2bn off the company’s value. However, news of the redundancies was well received by investors and the share price rallied by 2%, currently standing at 832p. This is clear confirmation of comments made by Espirito Santo’s analyst, Ed Stacey, who indicated that investors would be expecting a clear message from the new Finance Director and tight control on all finances.


Air France-KLM selects GEnx engines for Boeing 787 fleet

March 25, 2014 · 111 Views

Air France-KLM selected the GEnx-1B engine to power its 25 Boeing 787 Dreamliners and 12 leased 787 aircraft. The total engine order is valued at more than $1.7bn. Air France-KLM and GE Aviation have also signed an agreement that will allow Air France-KLM to offer maintenance, repair and overhaul (MRO) services for the GEnx-1B engine. Under this agreement, Air France-KLM will be licensed to perform maintenance and overhaul work on the GEnx-1B engine and GE will provide technical support and assistance on overhaul workscoping and component repair licenses, comprehensive material support and training.


ILFC closes $1.5bn senior secured term loan

March 7, 2014 · 78 Views

International Lease Finance Corporation (ILFC) has closed a new senior secured term loan of $1.5 billion. The loan will bear interest at LIBOR plus 275 basis points with a 0.75% LIBOR floor, is priced at 99.5% of par value, and will mature in 2021. The collateral used to support the transaction has an initial weighted average age of 9.1 years. It will be secured primarily by a first priority-perfected lien on the equity of certain of ILFC’s subsidiaries, which directly or indirectly own a pool of aircraft and related leases. ILFC plans to use the proceeds for general corporate purposes, including purchasing aircraft and supporting the company’s liquidity cushion.


Airbus Commercial reports another year of financial improvement

February 26, 2014 · 78 Views

In 2013, Airbus achieved a new industry record of 1,619 gross commercial orders (FY 2012: 914 gross orders) with net orders of 1,503 aircraft (FY 2012: 833 net orders), excluding ATR. Gross orders comprised 1,253 A320 Family aircraft, 77 A330s, 239 A350 XWBs and 50 A380s. Fourth-quarter orders included Emirates Airline’s agreement for 50 A380s and Etihad Airways’ order for 50 A350 XWBs, 36 A320neos and one A330-200F. Airbus Military (now part of Airbus Defence and Space) received 17 net orders (FY 2012: 32 net orders). Airbus’ net order intake increased sharply to €202.3bn (FY 2012: €88.9bn). At the end of 2013, Airbus’ consolidated order book was valued at €647.4bn (year-end 2012: €525.5bn). The Airbus Commercial backlog was worth €627.1bn (year-end 2012: €505.3bn), comprising 5,559 Airbus aircraft (year-end 2012: 4,682 units) and representing over eight years of production. Airbus Military’s order book was worth €20.8bn (year-end 2012: €21.1bn). Airbus series aircraft deliveries increased to 626 aircraft (FY 2012: 588 aircraft, including three A330s without revenue recognition). Airbus Military delivered 31 aircraft (FY 2012: 29 aircraft). Airbus’ consolidated revenues increased seven percent to €42,012m (FY 2012: €39,273m), reflecting higher commercial and military aircraft deliveries. The Division’s consolidated EBIT rose to €1,710m (FY 2012: €1,252m). Airbus Commercial’s revenues rose to €39,889m (FY 2012: €37,624m). The Airbus Commercial reported EBIT was €1,595m (FY 2012: €1,147m) with the EBIT before one-off at €2,216m (FY 2012: €1,669m). Airbus Commercial’s EBIT before one-off benefitted from the improved operational performance, including favourable volume, some better pricing and an improvement in A380 losses. It also included higher A350 XWB programme support costs. Revenues at Airbus Military rose to €2,893m (FY 2012: €2,131m), driven by the A400M ramp-up and higher volumes from both light and medium transport planes and tankers. The EBIT at Airbus Military was €166m (FY 2012: €93m).


Boeing Commercial Airplanes reports full year revenue of $53bn

January 29, 2014 · 74 Views

Boeing Commercial Airplanes fourth-quarter revenue increased to $14.7bn and full-year revenue increased to a record $53bn on higher delivery volume. Fourth-quarter operating margin improved to 10.3% and full-year operating margin grew to 10.9% on the higher volume, favorable delivery mix and continued strong operating performance. During the quarter, the company launched the 777X with 259 orders and commitments. During the year, the 787 program completed first flight of the 787-9, successfully launched the 787-10 and began operating at a 10 per month production rate in final assembly. The 737 program delivered at a record production rate of 38 per month and has won nearly 1,800 firm orders for the 737 MAX since launch. In 2013, a record 648 commercial aircraft were delivered. In January 2014, the company reached an eight-year contract extension through 2024 with the International Association of Machinists & Aerospace Workers District 751 (IAM). Commercial Airplanes booked 465 net orders during the quarter and 1,355 during the year. Backlog remains strong with 5,080 airplanes valued at a record $374 billion.


A350 XWB in Bolivia for high altitude testing

January 9, 2014 · 65 Views

The A350 XWB development aircraft, MSN3, is in Bolivia where it will perform a series of tests at the high altitude airfields of Cochabamba and La Paz. Cochabamba is around 8,300 feet above sea level, and La Paz is one of the world’s highest airports at 13,300 feet. Operations at such high altitude airfields are particularly demanding on aircraft engines, Auxiliary Power Unit (APU) and systems. The aim of these trials is to demonstrate and validate the full functionality of engines, systems, materials as well as to assess the overall aircraft behaviour under these extreme conditions. A number of take-offs with all engines operating and with simulated engine failures are being performed at each of the airfields to collect data on engine operating characteristics and validate the aircraft take-off performance. The autopilot behaviour will also be evaluated during automatic landings and go-arounds. Since the A350 XWB’s first flight with MSN1 on June 14th 2013, over 800 flight test hours have been performed in close to 200 test flights by both MSN1 and MSN3. In total the A350 XWB flight test campaign will accumulate around 2,500 flight hours with the fleet of five aircraft. The rigorous flight testing will lead to the certification of the A350-900 by the European EASA and US FAA airworthiness authorities, prior to entry into service in Q4 2014.


Firefly welcomes first ATR 72-600

July 5, 2013 · 64 Views

Firefly, Malaysia Airlines’ subsidiary carrier has taken ownership of its first brand-new ATR 72-600. The aircraft is the first of 20 latest generation firm ATRs, plus 16 options, ordered by Malaysia Airlines in December 2012. Firefly currently operates 12 ATR 72-500s, and with the arrival of the new ATR 72-600s will almost triple its exclusively ATR 72 aircraft fleet, taking the total to over 30 aircraft.


GE’s Passport engine begins first full engine test

June 26, 2013 · 40 Views

Certification testing is underway on the first Passport development engine at GE Aviation’s Peebles Testing Operation in Ohio. The engine began ground testing on June 24th and ran for more than three hours, reaching more than 18,000 lbs. of standard day sea-level takeoff thrust. Eight Passport engines and one core will be involved in the engine certification program. Flight testing on GE’s flying testbed is scheduled for 2014. Engine certification is expected in 2015. The Passport engine certification program follows three years of validation testing. GE Aviation has conducted validation tests on the fan blisk design, including two fan blade-out rig tests, ingestion tests and a fan aero rig test to demonstrate fan efficiency. Testing is complete on the third eCore demonstrator, and GE has accumulated more than 300 hours of testing on eCore demonstrators to date.


Rolls-Royce wins order from CIT to power 23 aircraft

May 22, 2013 · 53 Views

Rolls-Royce has won an order from US leasing company CIT Aerospace for Trent XWB engines, to power ten Airbus A350 XWB aircraft and Trent 700 engines to power 13 Airbus A330 aircraft. The Trent XWB engines will power ten CIT A350 aircraft that were announced in January 2013 which were in addition to five A350 XWB aircraft already on order. The Trent XWB, specifically designed for the Airbus A350, is the fastest selling Trent engine ever, with more than 1,200 already sold. The engine variant that will power the A350-800 and -900 was awarded European Aviation Safety Agency (EASA) type certification in February. The engine will power the first flight of the Airbus A350 XWB this year and the aircraft’s first in-service flight in 2014.


SAS accomplished unsecured private placement of €35m

July 31, 2013 · 28 Views

SAS (Scandinavian Airlines System Denmark -Norway- Sweden) has on 30 July 2013 managed to accomplish a private placement of €35m. The private placement is unsecured and has a 5 years term. The funds will be used to support SAS’ longer term liquidity level and be used to pay off upcoming unsecured maturing debt. The private placement has been completed in accordance with current market conditions with private investors. Deutsche Bank has acted as a sole advisor for the transaction.


GE Aviation and CAIGA sign agreement for H80 Family Authorized Service Center in China

July 31, 2013 · 16 Views

China Aviation Industry General Aircraft (CAIGA) signed an agreement with GE Aviation to become the first Authorized Service Center for the H80 turboprop engine family in China. With this agreement, CAIGA Customer Service Center can perform line maintenance inspections and routine engine maintenance, including removal and replacement of H75, H80 and H85 engines and engine components. Last year, CAIGA selected GE’s H85 turboprop engine to power CAIGA’s five-seat, light single-engine pressurized turboprop business aircraft with a carbon fiber composite airframe. It is one of the fastest pressurized single-engine turboprop aircraft in its class.


ANAC Brazil approves PEMCO 737 Freighter STC’s

July 31, 2013 · 12 Views

PEMCO World Air Services announced the approval of its Boeing 737 300/400 passenger to freighter modifications by ANAC (Agência Nacional de Aviação Civil), Brazil. Expansion into Brazil adds to PEMCO’s global reach and represents the 30th major national aviation authority certification of its industry-leading 737-300/400 Freighter, Combi and Quick Change products. Approval by ANAC was accomplished in cooperation with the U.S. FAA who provided guidance based on familiarity with PEMCO’s conversion products and multiple worldwide bilateral approvals and certifications. Company executives noted the significance of this approval as a gateway to serve the enviable Brazilian economy and its increasing demand for more modern regional freighters. Over the past few weeks PEMCO has already delivered two 737-400 11-position high-yield freighters to two different Brazilian air carriers with a third scheduled for next month.


Reliance Aircraft International disassembles ex-Gulf Air 767-300ER

July 31, 2013 · 72 Views

Reliance Aircraft International, Austin, TX is disassembling an ex-Gulf Air 767-300ER, -80C2 power (24485). Terry Hix, President states “This will be the 10th aircraft disassembled by RAI since its company launch in 2011. RAI’s diverse inventory along with the extensive knowledge of both Boeing and Airbus aircraft by our team allows us to support a wide spectrum of the commercial aftermarket all while providing immediate hands on customer service”. RAI is located in the heart of Central Texas and welcomes the opportunity to support customer needs worldwide.


Boeing Goldcare selects AerData’s STREAM records management solution

July 31, 2013 · 33 Views

AerData, a provider of software and services for the aviation industry announced that Boeing will use STREAM records management solution in support of its GoldCare program for airline fleet maintenance. STREAM (Secure Technical Records for Electronic Asset Management) is the industry’s foremost web-based solution used by the world’s leading airlines, lessors and MROs to manage scanned aircraft and engine records. AerData will scan the aircraft technical records and make these available to Boeing personnel supporting GoldCare. GoldCare is a flexible lifecycle solution that offers a tailored combination of maintenance engineering and planning, material management and maintenance execution as a multiyear service managed by Boeing.


Germania chooses IFE Services for passenger entertainment

July 31, 2013 · 16 Views

IFE Services released that it is Germania’s new passenger entertainment provider. IFE Services will provide the Berlin-based carrier with a regularly updated package of Hollywood movies, popular TV programmes and great music for the enjoyment of passengers across the airline’s entire fleet. All content will be available in German and English.


FLY Leasing acquires one new B777-300ER, agrees to acquire a B787-8

July 31, 2013 · 28 Views

FLY Leasing has taken delivery of a new Boeing 777-300ER aircraft on a purchase and leaseback transaction with LATAM Airlines Group (“LATAM”). Additionally, FLY has entered into a purchase and leaseback agreement with LATAM for a new Boeing 787-8 aircraft scheduled for delivery in September 2013.


Avcorp and IAMAW sign six year collective agreement

July 31, 2013 · 23 Views

Avcorp Industries released that International Association of Machinists and Aerospace Workers Local Lodge 11 have ratified a new 6 year collective agreement contract with the Company on July 30th, by a two-thirds majority. This six year agreement provides improvements to base wage rates each year and improvements to benefits, as well as incentives for early and normal retirees during the first two years of the contract.


SAS Group finalizes sale and leaseback of six aircraft

July 31, 2013 · 25 Views

As part of the recently launched plan to improve the financial position of SAS Group, 4 Excellence Next Generation, SAS has now finalized the sale and leaseback of six Boeing 737-600´s to Deucalion Capital X Limited (advised by the German Bank DVB Bank SE) and the Irish based engine leasing company ELFC (Engine Lease Finance Cooperation) acting jointly. “This sale and leaseback transaction represents an important step in the improvement of SAS’ financial position. In February, we succeeded with a sale and leaseback agreement on spare engines and we now further increase our liquidity from asset sales with this agreement,” said Göran Jansson, SAS Group CFO. The sale and leaseback is completed by the end of July. The lease periods are four to five and a half years. Net cash effect for SAS Group is estimated at MSEK 500.


Boeing expands 787 flight training support in Europe

July 31, 2013 · 9 Views

Boeing is enhancing its flight training support for customers of the 787 Dreamliner with an additional 787 full-flight simulator at the Boeing Flight Services campus in London. The new device, ready for training in the first quarter of 2014, will join two other 787 flight simulators currently used for training airline pilots at the London Gatwick campus and expand Boeing’s capabilities in support of the growing needs of customers in Europe, Africa and the Middle East taking deliveries of the 787 Dreamliner.


EADS reports solid half-year results, changes name to Airbus

July 31, 2013 · 17 Views

EADS reported increased revenues and profitability for the first half of 2013, driven mainly by its commercial aircraft business. Order intake increased sharply to €96.6bn with the order book value reaching €634.8bn at the end of June. The reported EBIT amounted to €1.5bn with a half-year Net Cash position of € 5.9bn. In the first half of 2013, EADS’ revenues increased 6% to €26.3bn (H1 2012: €24.9bn), reflecting the aircraft delivery pattern at Airbus Commercial and broadly stable revenues at Eurocopter, Astrium and Cassidian combined. The Group’s defence revenues were stable at €5.0bn. EADS’ reported EBIT increased to €1.5bn (H1 2012: €1.1bn) and included €136m in one-off charges at Airbus. This comprised €28m in expected charges related to the A380 wing rib feet repair based on H1 deliveries with the remaining €108m for the pre-delivery payment (PDP) dollar mismatch and balance sheet revaluation. EADS conducted a strategy review, which paved the way for two important Board decisions. Firstly, the Group plans to integrate Airbus Military, Astrium and Cassidian into one Defence and Space Division. Secondly, the Group will enhance integration and cohesion by renaming the Group and its Divisions using the globally recognised Airbus brand.

The Airbus Group will consist of three Divisions:

• Airbus, responsible for all commercial aircraft activities;
• Airbus Defence & Space, home to the Group’s defence and space activities including Military Transport Aircraft;
• Airbus Helicopters, comprising all commercial and military helicopter activities.

Based on the H1 2013 results, EADS reaffirms its full year guidance for all Key Performance Indicators (KPIs) except the order intake at Airbus Commercial which has been increased further.


Volaris Selects PurePower and V2500 engines for Airbus Aircraft

August 1, 2013 · 17 Views

Volaris has selected Pratt & Whitney PurePower PW1100G-JM engines to power its order of 30 firm A320neo aircraft. The airline becomes the first Mexican airline to select the Geared Turbofan. Volaris also selected the IAE International Aero Engines AG V2500 engine to power its order for 14 A320ceo aircraft. This Volaris order is for engines, spares and aftermarket services.


Denim selects ARINC’s AviNet Mail and ACARS solution for improved aircraft efficiency

August 1, 2013

Denim, a leading provider of flexible aircraft & crew capacity solutions for airlines, virtual airlines and non-governmental organizations worldwide, has signed a new contract for AviNet Mail and GLOBALink ACARS. AviNet Mail provides reliable and economical Type B, e-mail and SMS messaging for mission-critical business-to-business communications for the aviation industry. ARINC’s GLOBALink ACARS solution provides instant air-to-ground and ground-to-air data communication for Denim’s Embraer 190 planes configured with this new service. GLOBALink ACARS will enable Denim to operate its aircraft more efficiently and give it more visibility into how its aircraft are performing by maintaining critical, automated, real-time messaging between the flight crew and its maintenance organization.


IBA appoints David Yu as Executive Director, Business Development – Asia

August 1, 2013 · 79 Views

IBA appointed David Yu as Executive Director, Business Development – Asia. With extensive knowledge in aviation finance and leasing including deal origination, analysis, structuring, financing, and portfolio management, David’s experience will strengthen IBA’s expansion across the Asia region. Previous responsibilities include acting as Libra Group’s China Chief Representative and Vice President Asia, where he regulated all Libra’s Asian interests including the growth of its aircraft leasing entity, Lease Corporation International. David has also worked within Bank of America’s Global Industries Group, where he was focused on transactions in transportation, aerospace and defence and diversified industrials. David will continue to act in his current role as Managing Director of Inception Aviation. David is fluent in English and Mandarin. He will be based in Beijing and cover the Asia region.


Pratt & Whitney Canada delivers 80,000th engine to Beechcraft

August 1, 2013 · 22 Views

Fifty years after delivering its very first engine to Beechcraft Corporation, P&WC has celebrated with Beechcraft another historic milestone during EAA AirVenture (EAA), in Oshkosh, Wisconsin, with the delivery of its 80,000th engine, a PT6A-60A set to power the King Air 350i. “As we are celebrating the 50th anniversary of this iconic engine that marked the history of aviation, we are proud to share this important moment with Beechcraft Corporation, which was the first customer to select the PT6 engine. Beechcraft’s aircraft and our engines both enjoy a great reputation for durability and reliability,” said John Saabas, President, P&WC.


Garuda Indonesia forced to postpone flight service to London due to limited runway capacity at Soekarno-Hatta Airport

August 1, 2013 · 14 Views

Due to a limited runway capacity at Soekarno-Hatta Airport, Garuda Indonesia has been forced to postpone its flight service to London, which had initially been planned for 2nd November 2013. Reason being, the pavement classification number (PCN) of the runways and apron at Soekarno-Hatta Airport do not meet the required level of strength, which is typically needed for the operation of a full capacity, heavy duty commercial airline, such as the B 777-300ER. Garuda Indonesia President & CEO Emirsyah Satar said that to operate at “full capacity” serving direct flights between Jakarta – London (non-stop) and carrying 314 passengers (8 first class, 38 business class, 268 economy class) and a cargo of 30 tons (maximum take-off weight), the B 777-300ER requires a PCN of 132 tons. Soekarno-Hatta’s aging runway is already 28 years old and nearing “fatigue” with a pavement classification number/PCN of only 120 tons.


ANA orders three additional 777-300ERs

August 1, 2013 · 15 Views

ANA has ordered three additional 777-300ER (extended range) airplanes. The order, valued at approximately $945m at current list prices, will increase the total number of 777s in ANA’s fleet to 57 airplanes once delivered.


GE completes acquisition of Avio Aviation Business

August 1, 2013 · 17 Views

GE has completed the acquisition of the aviation business of Avio S.p.A., a leading, Italy-based provider of civil and military aviation components and systems. The purchase price was $4.3bn U.S. (€3.3bn). GE did not purchase Avio’s space unit. Avio’s aviation business has been renamed Avio Aero, a GE Aviation business. Avio Aero will retain headquarters in Turin, Italy. The acquisition furthers GE’s participation and expertise in the areas of mechanical transmission systems, low-pressure turbines, combustion technology, and automation systems. “Avio Aero operates in four continents and enhances our global capabilities and engineering strength as our production rates rise,” said David Joyce, president and CEO of GE Aviation, based in Cincinnati, Ohio. “Also GE will build Avio Aero’s position as a supplier to other industrial and aviation companies. We are thrilled to further our industrial participation in Italy.”


FLY Leasing reports second quarter 2013 financial results

August 1, 2013 · 17 Views

FLY’s net income for the second quarter of 2013 was $5.9m compared to $25.7m in the same period of 2012. The decline in net income is the result of a decline in operating lease revenue, gains from aircraft sales during the second quarter of 2012 and expenses associated with delivering aircraft to new lessees, partially offset by a reduction of interest expense as a result of de-leveraging.  The decline in operating lease revenue is primarily due to off-lease aircraft, sale of aircraft which contributed to revenue in Q2 2012 but were subsequently sold and re-lease of aircraft at lower rental rates. Net income for the six months ended June 30, 2013 were $38.8m compared to $46.1m for the six months ended June 30, 2012. At June 30, 2013, FLY’s total assets were $3.0bn, including flight equipment with a net book value of $2.6bn. Restricted and unrestricted cash at June 30, 2013 totaled $296.1m, of which $139.3m was unrestricted. This compares to total cash of $300.6m at December 31, 2012, of which $163.1m was unrestricted. In July, FLY completed an underwritten public offering of 13,142,856 common shares in the form of ADSs at a price of $14.00 per ADS, generating net proceeds of approximately $173.1m.


Beechcraft Corporation secures order for up to 105 King Air 350i aircraft

August 1, 2013 · 16 Views

Beechcraft Corporation has secured an order for up to a total of 105 King Air 350i aircraft, valued at $788m, from Wheels Up, a membership-based private aviation program that eliminates fixed costs and provides unparalleled flexibility established by Kenny Dichter and the team that founded Marquis Jet, which redefined private air travel with the first 25-hour fractional jet card program. Beechcraft has been named the aircraft and comprehensive maintenance provider for Wheels Up in North America and Western Europe, with the entire value of the deal totaling up to $1.4bn. The first 35 Beechcraft King Airs will be delivered to Wheels Up between now and mid-2015 with the first nine deliveries to be made in 2013. Wheels Up will initially focus on the Northeastern United States. The deal includes options for 70 additional aircraft as Wheels Up expands nationally over the next two to three years.


Airbus’ Runway Overrun Prevention System (ROPS) certified on A320ceo Family

August 1, 2013 · 3 Views

Airbus has achieved initial EASA certification of its innovative Runway Overrun Prevention System (ROPS) technology on A320ceo Family aircraft. This on-board cockpit technology, which Airbus has pioneered over several years and is now in service on the A380, increases pilots’ situational awareness during landing, reduces exposure to runway excursion risk, and if necessary, provides active protection. In March this year American Airlines selected ROPS to equip its A320 Family fleet. This EASA certification of ROPS on the A320ceo is the next step in making ROPS available for line-fit and retrofit to other Airbus models including very soon the A320ceo with Sharklets, the A330 Family, and also the A320neo. ROPS was first approved by the European Aviation Safety Agency (EASA) on the A380 in October 2009 and to date is currently in service or ordered on most of the A380 fleet. ROPS is also part of the A350 XWB’s basic configuration.


Bombardier Aerospace reports second quarter 2013 results

August 1, 2013 · 23 Views

Bombardier Aerospace’s revenues amounted to $2.3bn for the three-month periods ended June 30, 2013 and 2012. EBIT before special items totalled $107m or 4.7% of revenues for the second quarter ended June 30, 2013, compared to $99m or 4.4%, last fiscal year. Free cash flow usage totalled $459m (including net addition to property, plant and equipment (PP&E) and intangible assets of $534m) for the second quarter ended June 30, 2013, compared to a usage of $504m (including net addition to PP&E and intangible assets of $481m) for the same period last fiscal year. Bombardier Aerospace delivered a total of 57 aircraft during the second quarter ended June 30, 2013, compared to 62 for the same period last fiscal year, and received 82 net orders during the second quarter, compared to 146 for the same period last fiscal year.


Etihad Airways to acquire 49% of JatAirways of Serbia

August 1, 2013 · 19 Views

Etihad Airways, the national airline of the United Arab Emirates (UAE) has unveiled plans to acquire 49% of JatAirways. The Abu Dhabi-based carrier has also been awarded a five year management contract for the Serbian national airline. These are two of the key components of a wide-ranging strategic partnership agreement, signed by Etihad Airways and the Government of Serbia, which includes a fleet of new aircraft, and a new integrated network of international destinations enabling greater access for business and leisure travellers to Serbia. Within the agreement Etihad Airways will make available a US$40m loan facility which will be converted into equity on January 1st, 2014, subject to regulatory approval. This will be matched by an equal funding injection by the Government of Serbia. Etihad Airways and the Government of Serbia will also each provide further funding through shareholder loans and other funding mechanisms of up to US$60m to meet working capital requirements and support network development for the newly created Air Serbia.