Saturday, August 03, 2013
AviTrader Daily Aviation News Alert
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February 20, 2015 · 556 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.
February 20, 2015 · 655 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.
December 2, 2014 · 197 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.
November 5, 2014 · 164 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.
March 25, 2014 · 113 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.
March 7, 2014 · 80 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.
February 26, 2014 · 80 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).
January 29, 2014 · 76 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.
January 9, 2014 · 67 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.
July 5, 2013 · 66 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.
June 26, 2013 · 42 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.
May 22, 2013 · 55 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.
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
August 2, 2013 · 15 Views
Nexcelle, the joint venture company of GE Aviation and Aircelle (Safran), has named Michel Abella as its new president. Abella has nearly 40 years of aeronautical experience in jet engines, nacelles, aerostructures, aircraft systems, powerplant integration and program management. This expertise will be applied as Nexcelle pursues its development of nacelle systems for next-generation integrated propulsion systems that equip commercial airliners and business jets. In particular, Abella will oversee Nexcelle’s ramp up of production and initial hardware delivery for the company’s two current program wins: the nacelle systems for CFM International’s LEAP-1C integrated propulsion system on COMAC’s C919 airliner and the GE Passport engine for Bombardier’s Global 7000 and Global 8000 twin-jet business aircraft.
August 2, 2013 · 21 Views
Eurocopter delivered the first NH90 NFH (NATO Frigate Helicopter) to the Belgium Armed Forces, providing an advanced, highly capable and fully-qualified rotary-wing aircraft for this nation’s multi-role mission requirements. In addition to being the no. 1 NH90 NFH received by Belgium, it also is the first built at Eurocopter’s Donauwörth, Germany industrial site – demonstrating this facility’s capability to assemble and deliver these new-generation twin-engine helicopters. Belgium will become the fifth country to put the European-developed NH90 NFH version into service, joining France, Italy, the Netherlands and Norway. The aircraft delivered today is rated at Full Operational Capability (FOC), ensuring its aptitude for the full range of Belgium naval missions – such as Search and Rescue (SAR) or military missions at sea.
August 2, 2013 · 19 Views
SR Technics, part of the Mubadala Aerospace MRO network, has signed a contract with Finnair for the provision of heavy maintenance visits (D-checks), including paint works, on two of the airline’s Airbus A320s. The work will be completed at SR Technics Center of Excellence for narrowbody aircraft maintenance in Malta, and the first aircraft has already been inducted. The contract follows the signing of a cornerstone 10-year contract with Finnair in July 2012 for CFM56 engine maintenance, and integrated component services (ICS) support for its Airbus and Embraer fleet.
August 2, 2013 · 16 Views
Triumph Group reported that net sales for the first quarter of fiscal year ending March 31, 2014 totaled $943.7m, a 6% increase from last year’s first quarter net sales of $887.7m. Organic sales for the quarter decreased 2% primarily due to a decline in non-recurring revenue. Net income for the first quarter of fiscal year 2014 was $79.0m versus $76.3m for the first quarter of the prior fiscal year, an increase of 4%. The quarter’s results included approximately $3.6m pre-tax ($2.3m after tax) of costs related to the Jefferson Street facility move. The prior fiscal year’s quarter included approximately $0.5mi ($0.3m after tax) of integration costs associated with the acquisition of Vought Aircraft Industries (now Triumph Aerostructures-Vought Aircraft Division) and a charge of $1.2m pre-tax ($0.7m after tax) for early retirement incentives. Excluding the Jefferson Street move related costs, net income for the quarter was $81.4m. Also included in the quarter’s results was approximately $1.3m pre-tax ($0.8m after tax) of acquisition related costs primarily attributable to the Primus Composite acquisition. During the quarter, the company generated $37.6 million of cash flow from operations before Triumph Aerostructures’ pension contribution of $25.8m, after this contribution, cash flow from operations was $11.8m.
August 2, 2013 · 24 Views
Monarch Aircraft Engineering (MAEL) has assisted Tasman Cargo Airlines (TCA) in gaining its Civil Aviation Safety Authority (CASA) Part 42 approval, which is Australia’s equivalent to the EASA Part M approval. MAEL’s technical service team provided full management support of the regulatory approval process for the Australian carrier’s Boeing 757 aircraft which has transferred on to the Australian register and will continue to provide fleet technical management services for the Boeing 757 aircraft on an ongoing basis.