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Wednesday, August 07, 2013

AviTrader Daily Aviation News Alert

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

February 20, 2015 · 543 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 · 641 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.


Werner Aero Services tears down A319 aircraft

August 5, 2013 · 25 Views

Werner Aero Services has begun the tear down of one of its A319 aircraft that was last operated by TAM. The teardown process takes place in Arizona and is expected to be completed in August. “The components from this aircraft will be used to support Werner’s Airbus customers. The availability of these components will help us provide quicker turnaround time to our customers and will also be utilized in our exchange program,” said Mike Cazaz, CEO of Werner Aero.


AirAsia X Extends Partnership with AFI KLM E&M

August 5, 2013 · 17 Views

AirAsia X extended its contract with AFI KLM E&M covering the component support for its fleet of Airbus A330s and A340s. The initial contract inked in 2009 only covered one leased aircraft, but has been extended twice in order to support the expansion of the Malaysian carrier. This includes the 25 new A330s ordered from Airbus and the 2 A340s. This latest extended agreement would include an additional 7 A330s (1 new aircraft, 6 leased), covering component repairs, pool access and logistics services for a total fleet of 35 A330s and A340s.


Doric expands asset management

August 5, 2013 · 15 Views

As of August 2013 Iwijn Achterberg has joined Doric‘s asset management team of aircraft engineers, aviation and financial experts. Thanks to his previous positions in engineering with one of the largest globally operating airlines, Iwijn can draw on experience with a number of different aircraft and engine types. His focus at Doric will be on monitoring aircraft engines. Iwijn will be on site when maintenance work is performed on Engine Alliance and Rolls-Royce engines and provide documentation support and maintenance for the 18 Airbus A380s which Doric currently manages. At present, several A380s managed by Doric are undergoing final fix modification of the wing rib brackets following approval by the European Aviation Safety Agency in March 2013.


Turkey’s THK Gökçen Aviation receives first five Eurocopter EC135 helicopters for emergency medical missions

August 5, 2013 · 7 Views

THK Gökçen Aviation, the commercial company of the Turkish Aeronautical Association THK, yesterday received the first five EC135s to provide medical airlift duties throughout Turkey. The helicopters will start operations in August. The delivery of this first batch takes place only three months after the selection of Eurocopter as preferred manufacturer. THK Gökçen Aviation and Saran Holding will deploy a fleet of 17 EC135 to ensure helicopter medical emergency services (HEMS) in the framework of a five-year contract with the Turkish Ministry of Health. The remaining helicopters will be delivered in spring 2014.


FlairJet completes Embraer’s 400th Phenom delivery

August 5, 2013 · 5 Views

FlairJet, the London Oxford Airport-based business jet charter company, part of Marshall Aerospace and Defence Group (MADG), has completed the delivery of Embraer’s 400th Phenom aircraft type. It is the first aircraft delivery made by FlairJet since its acquisition by MADG earlier this year and demonstrates its ongoing strategy of providing a range of aviation services alongside regular charter provision. The Phenom 300, SN 150, was flown from Embraer’s Brazilian Sao Jose dos Campos facilitiy to the customer, The Hansgrohe Group, in Siegerland, Germany in early July.


MAINTag’s FLYcheck increases aircraft cabin check efficiency

August 5, 2013 · 26 Views

MAINtag, a leading provider of aerospace flyable RFID tags, readers, software and integration services, has launched FLYcheck, a 3D iPad-based assets management solution for inventory and maintenance of cabin passenger and security equipment. The FLYcheck interface delivers a realistic three-dimensional view of an aircraft’s interior cabin, and provides data, graphics and animation for multiple viewing angles. “The FLYcheck solution complies with ATA Spec 2000, and provides status to see which parts are approved or reported, or if a part is missing or expired, along with other useful data. At the same time, FLYcheck may reduce inventory check time by as much as 90%. The accuracy of the system reduces risk of errors compared to existing methods of cabin safety equipment checks that may be outdated or unintuitive,” said Bruno Lo-Re, President and CEO of MAINtag in Paris, France.


GECAS delivers two new leased Boeing 737-800s to Pegasus Airlines

August 5, 2013 · 26 Views

GE Capital Aviation Services Limited (GECAS) announced delivery of two new Boeing 737-800s to Turkish low cost carrier Pegasus Airlines following a purchase-and-leaseback transaction. The two aircraft come from Pegasus’ existing order book with Boeing and were delivered in January and June. They will expand the airline’s current fleet of 45 aircraft.


Delta reports operating performance for July 2013

August 5, 2013 · 30 Views

Delta Air Lines reported operating performance for July 2013. Consolidated traffic increased 1.7% compared to the same period in 2012, while capacity increased 2.7%. Consolidated load factor for the month was slightly down, 0.8 points to 87%.


Alaska Air Group reports July operational results

August 5, 2013 · 18 Views

Alaska reported a 9.2% increase in traffic on a 9.2% increase in capacity compared to July 2012. This resulted in a 0.1 point increase in load factor to a July record of 88.9%.

Horizon reported a 1.9% increase in July traffic on a 1.2% decrease in capacity compared to July 2012. This resulted in a 2.5 point increase in load factor to a July record 84.7.


US Airways reports July load factor of 88%

August 5, 2013 · 17 Views

US Airways Group reported its July and year-to-date 2013 traffic results. Mainline traffic for the month was up 6.8% versus July 2012. Mainline capacity was up 5.1% versus July 2012. Mainline passenger load factor was 88.1% for the month of July, up 1.4 points versus July 2012.


Ed Dolanski named president and CEO of Aviall

August 5, 2013 · 50 Views

Edward P. Dolanski has been named president and CEO of Aviall, a wholly owned subsidiary of The Boeing Company. Dolanski joined Aviall in 2007 as senior vice president of operations and was promoted to executive vice president and chief operating officer (COO) in January 2010.


AMR Corporation and US Airways get approval from European Commission for pending merger

August 5, 2013 · 34 Views

AMR Corporation and US Airways Group have received clearance from the European Commission under the EC Merger Regulation for their proposed merger. Tom Horton, chairman, president and CEO of AMR, and incoming Chairman of the Board of the combined company, said, “We are very pleased that the EU has approved the merger between American Airlines and US Airways. This represents one of the final milestones on our path to becoming the new American Airlines.”


TAP Maintenance and Engineering Brazil receives EASA certification for E-Jets family

August 6, 2013 · 40 Views

In 2010, TAP Maintenance and Engineering Brazil earned the certificate of an Embraer Authorized Service Center (EASC) in Brazil, becoming the only aircraft maintenance company in Latin America certified for all service levels on all commercial aircrafts manufactured by Embraer, as regulated by ANAC and FAA. Now, TAP M&E Brazil, which already holds numerous certifications to perform aircraft heavy checks of the main manufacturers, has received certification from EASA (European Aviation Safety Agency) for all maintenance levels on all E-Jets models manufactured by Embraer. Consequently, this will significantly increase the possibility of performing more services, especially for European operators. TAP M&E Brazil’s industrial complex consists of two Maintenance Centers—one in Rio de Janeiro (GIG) and the other in Porto Alegre (POA)—where, besides aircraft services, it offers several capabilities for engines, landing gear and aircraft components together with certificates from aviation authorities such as ANAC, FAA, EASA, TCCA, DGAC and others.


AMG Flite Components in support & repair partnership with Spirit Airlines

August 6, 2013 · 21 Views

An Aero Maintenance Group (AMG) subsidiary, AMG Flite Components (Flite) has entered into a radome support and repair partnership with Spirit Airlines in support of their 50+ and growing fleet of A320-family aircraft. The multi-year partnership places spare radomes at Spirit’s key maintenance locations and provides minor repair to full overhaul services for all Spirit radomes. Spirit Airlines and AMG Flite Components teamed together partly because of Flite’s abilities to perform maintenance and testing on quartz radomes economically with rapid response times, thus providing high potential savings to the Americas’ premier Ultra Low Cost Carrier.


Avtrade expansion continues with Avtrade Dubai move to new offices

August 6, 2013 · 30 Views

Avtrade Dubai has moved to the prestigious Gold Tower in Jumeirah Lake Towers, located in New Dubai, in one of the most desirable locations. Over the last year the Dubai team has expanded primarily through relocation of experienced staff from the UK office to provide increased customer service and support to customers in the Gulf region. With a background in aviation sales and customer support and more than three years at Avtrade in the Sales department, including the Singapore office, Sarah Owen joined the team in Dubai where she has been promoted to Regional Sales Manager – Middle East and Africa. Fran Haines joined Avtrade’s Sales department two years ago, initially looking after specific customer accounts. Fran became a key member of the AOG team providing 24/7 priority support to global airline customers before moving to Dubai to take up the position of Sales Executive – Middle East & Africa. More recently Andy Steinecke has joined Avtrade as Strategic Support Manager. He has a wealth of knowledge and experience in Component Repair and Project Management. After an initial period in the UK office, Andy is working in the Dubai office with Jamie Brooks, Regional Sales Director – Middle East & Africa on several new initiatives and projects.


IFE Services to supply Gambia Bird with in-flight entertainment

August 6, 2013 · 33 Views

In-flight entertainment (IFE) company, IFE Services, is Gambia Bird’s new content service provider. The agreement covers the provision of a regularly refreshed package of modern classic movies and top-rated TV shows as well as a broad selection of different music genres. Passengers can enjoy the great content on the aircraft’s overhead digital IFE systems. Founded in 2012, Gambia Bird Air Lines is headquartered in Banjul, The Gambia. The company is financially backed by German airline group, Germania. Gambia Bird provides scheduled flights across West Africa including The Gambia, Ghana, Liberia, Senegal and Sierra Leone as well as to the UK and Spain.


WestJet reports July load factor of 83%

August 6, 2013 · 21 Views

WestJet announced July 2013 traffic results with a load factor of 83.1% down 2.2 points when compared to July 2012. Traffic, increased 8.3% year over year, and capacity grew 11.1% over the same period.


AJW Aviation appoints VP Business Development for Russia and CIS Regions

August 6, 2013 · 23 Views

AJW Aviation has appointed Ruslan Nurislamov as VP Business Development to promote its integrated aircraft support services. Nurislamov will be responsible for Russia and CIS regions and will also focus on promoting AJW Technique – the global hub for AJW component repair activities located in Montréal. Based in the Moscow office, Nurislamov brings with him a wealth of experience from his previous roles as Customer Support, Sales and General Manager for Lufthansa Technik for the Central Asia region.


TransDigm Group reports fiscal 2013 third quarter results

August 6, 2013 · 22 Views

TransDigm Group Incorporated (TDG), a leading global designer, producer and supplier of highly engineered aircraft components, reported results for the third quarter ended June 29, 2013. Net sales for the quarter rose 5.8% to $488.6m from $461.7 million in the comparable quarter a year ago. Organic net sales growth of 4.5% was driven by an increase in sales over the prior year in commercial OEM and defense sales. The favorable contribution from the acquisitions of Arkwin, Aerosonic and Aero-Instruments accounted for the balance of the sales increase. Net income for the quarter decreased 15.2% to $76.7m compared with $90.4m in the comparable quarter a year ago. EBITDA for the quarter decreased 5.3% to $192.8m from $203.5m for the comparable quarter a year ago. EBITDA As Defined for the period increased 7.0% to $231.9m compared with $216.7m in the quarter a year ago. EBITDA As Defined as a percentage of net sales for the quarter was 47.5%.


Aircastle posts second quarter 2013 net income of $32.9m

August 6, 2013 · 60 Views

Aircastle released that lease rental and finance lease revenues for the second quarter were $162.0m, up $7.5m or 5% year over year, due primarily to the impact of aircraft acquisitions of $26.1m, partially offset by lower revenues due to aircraft dispositions of $9.5m and from the effect of lease extensions, transitions and terminations of $9.1m. Total revenues for the second quarter were $170.4m, a decrease of $1.8m, or 1% versus the previous year. This was primarily due to the amortization of lease premiums, discounts and lease incentives being $10.8m higher in 2013. In the second quarter of 2012, lease incentive amortization was driven lower by lease incentive reversals resulting from early lease terminations. This revenue decrease was partially offset by $7.5m of higher lease rental and finance lease revenue, and $1.8m of higher other revenues, primarily early lease termination fees relating to an aircraft that transitioned during the quarter. Adjusted EBITDA for the second quarter was $183.4m, up $26.3m or 17% from the second quarter of 2012. Net income for the second quarter was $32.9m, up $16.5m, or 101%.  The increase was primarily due to higher gains from the sale of aircraft of $18.5m and lower aircraft impairment charges of $10.1m.


Willis Lease Finance earns $9.7m in second quarter

August 6, 2013 · 19 Views

Willis Lease Finance Corporation (WLFC) reported earnings of $9.7m in the second quarter ended June 30, 2013, compared to $1.6m in the preceding quarter and $2.4m in the second quarter a year ago. For the first six months of 2013, net income attributable to common shareholders was $11.3m compared to $5.0 million in the first six months of 2012. Lease portfolio increased 4.7% to $1.02bn from $0.97bn a year ago, largely due to the purchase-leaseback transaction with Scandinavian Airlines that was completed in the first quarter of 2013. Total revenues grew 8.0% to $38.0m from $35.2m a year ago, reflecting portfolio growth and increased maintenance reserve revenues. Lease rent revenues increased 3.9% to $24.8m compared to $23.8m a year ago. Maintenance reserve revenues increased 24.9% to $11.8m compared to $9.4m a year ago.


Airbus delivers 8,000th aircraft – an A320 for AirAsia

August 6, 2013 · 11 Views

Airbus has delivered its 8,000th aircraft – an A320 for the Indonesian wing of AirAsia. The aircraft took off from Toulouse, France on Saturday 3rd August and arrived on August 6th at its new base in Jakarta.AirAsia Group is the largest low-cost airline in Asia and operates an all-Airbus fleet. The airline is the largest customer for the A320 Family, having ordered a total of 475 aircraft, comprising 264 A320neo and 211 A320ceo. Meanwhile, Airbus widebody aircraft are the choice of the group’s long haul affiliate AirAsiaX, which has ordered a total of 26 A330-300s and ten A350 XWBs. A total of 141 Airbus aircraft are flying today in AirAsia’s colours out of its 16 bases in the region, which include Bangkok, Kuala Lumpur and Jakarta.