Wednesday, December 11, 2013
AviTrader Daily Aviation News Alert
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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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
December 9, 2013 · 21 Views
GE Capital Aviation Services reported the delivery of a new leased Airbus A330 aircraft to China Airlines to help modernize its fleet. This is the first of two A330s that will be leased to China Airlines. The second is scheduled for delivery in 2014. The aircraft come from GECAS’ existing orderbook with Airbus. In addition to these new deliveries, in December 2012 GECAS announced it will lease four 777-300ERs to China Airlines with deliveries scheduled to begin in 2014. GECAS currently leases eight E190s to Mandarin Airlines, a subsidiary of China Airlines.
December 9, 2013 · 19 Views
Hard on the heels of a successful Dubai Air Show, Quest Aviation Solutions announces it is broadening its relationship with MD Helicopters and effective immediately will take on sales of its Multi Mission family of helicopters in both India and China. Quest will support India and China from its sales offices in Bangalore and Beijing. Quest, working in close association with MD Helicopters, which also plans to open an office in China next year, will also explore commercial opportunities for destinations that are easily accessible by helicopter, but difficult by other means of transport.
December 9, 2013 · 17 Views
US Airways will join oneworld with effect from March 31, 2014, following completion of its merger with alliance founding member American Airlines. All its regional affiliates, operating under the US Airways Express brand, will also transition to oneworld at the same time. US Airways will add 60 destinations to the oneworld map – most in the United States but also three in Canada and one in Mexico – along with its key hubs of Charlotte, Philadelphia, Phoenix and Washington DC’s Reagan National, expanding oneworld’s presence across the United States. Until the full integration of American Airlines and US Airways – which will see the combined airline retaining the American Airlines name – US Airways and its regional carriers will operate as oneworld affiliate members, under the American umbrella. They will offer oneworld’s full range of services and benefits – although some may be phased in shortly after US Airways joins. US Airways, American and their oneworld partners are working to provide the most popular benefits and services on an accelerated timeline.
December 9, 2013 · 23 Views
Chromalloy named a Business Development Director to lead new component repair developments for turbine engine manufacturers and operators, for the company’s Carson City, Nevada, and Mexicali, Mexico, operations. Jason Humphries, a long-time turbine industry executive and technical expert, assumes leadership of global business development strategies in commercial aerospace, military and energy segments.
December 9, 2013 · 38 Views
SAS reported traffic decrease of 0.9% for the month of November 2013, while capacity was up by 3.2%, when compared to the same year in 2012. The load factor decreased 2.8 points to 68.0%.
December 9, 2013 · 16 Views
Air Canada will operate daily flights between Toronto -Pearson and Tokyo-Haneda ( Tokyo International Airport) beginning July 1, 2014 using the Boeing 787 Dreamliner. The new year-round service will be both the only non-stop flight between Canada and Tokyo-Haneda, located less than 30 minutes from downtown Tokyo, and the first daytime flight to Tokyo-Haneda from North America. This is the first deployment of Air Canada’s Dreamliner — featuring the airline’s new seating and cabin amenities — in the Asian market. The new route will complement Air Canada’s existing flights to Tokyo Narita International Airport from Toronto , Calgary and Vancouver.
December 9, 2013 · 65 Views
AMR released that consolidated traffic decreased 1.1% on a 1.8% increase in capacity year-over-year, resulting in a consolidated load factor of 78.4%, 2.3 points lower than the same period last year.
December 9, 2013 · 46 Views
Boeing released that low-speed wind tunnel tests have begun for the Boeing 777X, a major milestone in airplane development. Testing started on Dec. 5 at QinetiQ’s test facility in Farnborough, U.K. Wind tunnel models allow experts to test many different configurations for the airplane. Low-speed tests measure airplane performance with a variety of high-lift surface settings to simulate takeoff and landing conditions. The low-speed model currently being tested is a 0.05 percent scale model of the baseline 777X, measuring about 4.22 meters (166 inches) long with a wing span of 3.92 meters (154 inches). Hundreds of sensors are embedded in the model to measure pressure to determine the in-flight loads as well as provide valuable diagnostics of the aerodynamic performance of a given design. Low-speed testing at the QinetiQ facility is expected to last approximately five months. Testing also will be conducted next year at the Boeing Transonic Wind Tunnel in Seattle to further validate 777X high-speed performance projections.
December 9, 2013 · 21 Views
Southwest Airlines reported that November 2013 capacity increased 0.8% from November 2012 level, while traffic for the month decreased 1.0%. The November 2013 load factor was 78.6%, compared to 80.0% in November 2012.
December 9, 2013 · 32 Views
The Italian Police has taken delivery of a fifth AW139 intermediate twin engine helicopter which will be based in Reggio Calabria. The contract, which was signed in July last year, includes a total of eight AW139 helicopters. Designated UH-139C, the Italian Police’s helicopters operate from bases in Southern Italy (Bari, Palermo and Reggio Calabria) as well as from Pratica di Mare close to Rome. The Italian Police AW139 configuration includes a high definition latest generation FLIR, satellite communication system, searchlight, rescue hoist and a cabin mission console. The latest aircraft also includes an advanced HD video down link which will also be retrofitted to the Italian Police’s UH-139 helicopters already in service.
December 9, 2013 · 10 Views
Turkish Airlines will become the first European airline to operate A320 Family aircraft with production-retrofitted Sharklet wingtip devices. This will follow the installation, which has just been completed, by Turkish Technic MRO of Sharklets onto the first of nine A321s to be retrofitted for Turkish Airlines. All nine aircraft will be upgraded for the airline in Istanbul in the coming weeks. Thanks to this aerodynamic upgrade, every Turkish Airlines’ retrofitted aircraft will benefit from a reduction in fuel costs by up to 4%, an annual 900t reduction in CO2 emissions and an increased mission range by up to 100 nautical miles.
December 9, 2013 · 16 Views
Kuwait Airways, the National airline of Kuwait, has signed a Memorandum of Understanding (MoU) to buy ten A350-900 and fifteen A320neo Family aircraft. The order is part of Kuwait Airways’ fleet renewal strategy. The carrier already operates three A320, three A310, five A300 and four A340 Family aircraft.
December 10, 2013 · 14 Views
In November, Finnair traffic decreased by 7.1% and the overall capacity decreased 4.9% year‐on‐year due to the strike treat and preparations made for the possible strikes of The Finnish Flight Attendants’ Association (SLSY) and The Finnish Aviation Union (IAU). Passenger load factor was 1.6 points below last year’s level and was 71.3%.
December 10, 2013 · 12 Views
Etihad Airways has commenced major expansion of its Indian operations following the approval of a 24% investment in Jet Airways. Central to the Etihad Airways plan is the use of Abu Dhabi, capital of the United Arab Emirates, as a global hub connecting international passengers and freight with flights to and from India. Pending the opening of a new facility, United States-bound passengers will be able to clear US immigration and customs at Abu Dhabi Airport. The first stage of the Etihad Airways strategy includes additional flights or the introduction of larger aircraft on existing routes to India. Subject to regulatory approvals in a range of countries, Etihad Airways and Jet Airways also plan to codeshare on each other’s flights between Abu Dhabi, India and other markets in the Middle East, North America and Europe. Etihad Airways will also codeshare on new flights by Jet Airways’ between India and the U.S., via the Abu Dhabi hub, subject to regulatory approval.
December 10, 2013 · 11 Views
The Association of Support Service Industries (PALTA) and the Finnish Air Line Pilots’ Association (SLL) have reached a new collective labor agreement for Finnair’s pilots. The new collective labor agreement comes into effect on February 1st, 2014 and it is in line with the central Pact for Employment and Growth. The three-year contract includes a crisis clause similar to the ones in the collective labor agreements which were reached with other employee unions this fall. According to the crisis clause, in the coming months Finnair will negotiate with SLL on cost savings. If an agreement on the savings is reached by June 13, 2014, Finnair will offer pilots job security for two years.
December 10, 2013 · 21 Views
Vector Aerospace Engine Services – Atlantic (ES-A) has named Malcolm Venturi as Regional Sales and Service Manager for southern and western Australia and the Asia – Pacific region.
December 10, 2013 · 14 Views
FL Technics, a global provider of aircraft maintenance, repair and overhaul services, has announced the appointment of Zilvinas Lapinskas to the position of its new CEO. Zilvinas will replace Jonas Butautis who will act as the Deputy CEO for the rest of the transition period.
December 10, 2013 · 25 Views
Lufthansa Technik AG is once again expanding its involvement in the provision of technical support for the Boeing 787, after signing an agreement with Air Canada. Canada’s largest airline has signed a 12-year Total Component Support TCS contract with Lufthansa Technik, starting with the delivery of the first aircraft from Boeing to Air Canada in the first quarter of 2014. So far, Air Canada has confirmed 37 Boeing 787 orders with another 23 options. Lufthansa Technik will invest significantly over the contractual period to guarantee an optimal service to Air Canada, including the appointment of an on-site program manager at Air Canada’s head office in Montreal and expansion of its component pool in Miami, Florida.
December 10, 2013 · 17 Views
Swiss-AS, provider of M&E software solution AMOS, announced the latest addition to its loyal customer base: UTair Aviation Group. Initially, UTair will implement AMOS for approximately a quarter of its fixed-wing fleet while more aircraft are to follow soon after the go-live. Russian airline UTair operates scheduled domestic and international passenger services, scheduled helicopter services and extensive charter flights with fixed-wing aircraft and helicopters.
December 10, 2013 · 14 Views
Aeronautical Engineers (AEI) redelivered the sixth B737-400SF 11 Pallet freighter to the ASL Aviation Group. The sixth freighter to deliver is a high gross weight B737-400SF (MSN 25181) built in 1992. The conversion was performed at AEI’s Authorized Conversion Center, Commercial Jet Inc. in Miami Florida. The aircraft has been ferried to Paris France where it will enter service with Europe Airpost in support of the French Post Office. This is AEI’s 17th of an estimated 23 freighter redeliveries in 2013.
December 10, 2013 · 15 Views
Republic Airways reported preliminary passenger traffic results for November 2013. Traffic in November decreased 1.0% from the same period in 2012 while capacity increased 3.0% over November 2012. The load factor was down 3.0 points to 74%.
December 10, 2013 · 19 Views
UAL’s November 2013 consolidated traffic increased 0.9% and consolidated capacity increased 3.0% versus November 2012. UAL’s November 2013 consolidated load factor decreased 1.7 points to 79.8% compared to November 2012.
December 10, 2013 · 29 Views
Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, confirmed that it completed the acquisition of PGA Electronic (“PGA”) on December 5, 2013 for approximately $31.2m. Approximately $17.5m of the purchase price was paid in cash and the balance was paid by the issuance of 264,168 shares of Astronics common stock with a market value at the time of closing of $13.7m. Astronics had previously announced that it entered into a definitive agreement to acquire PGA Electronic on November 4, 2013.
December 10, 2013 · 25 Views
Boeing, which released its seventh annual aircraft finance market forecast on December 10th, projects that investors and financiers in the major aircraft finance markets will deliver balanced liquidity to fund what is expected to be another record global jetliner production year in 2014. Boeing forecasts industry jetliner deliveries in 2014 totaling $112bn, with 95% of that expected to be split between Boeing and Airbus. The forecast noted the declining use by airlines of export credit agency (ECA) financing from the Export-Import Bank and the continued rapid expansion of commercial aircraft-backed bond issuances. According to the report, these factors contributed to the financing realignment and are expected to result in an almost even balance among primary aircraft financing sources, including aircraft leasing companies, commercial banks, the capital markets and ECAs. Boeing sees many new bank participants complementing the established aircraft banks’ space with globally balanced participation, said Zolotusky. The leasing market has evolved during the past decade from five equally competitive lessors to several times that many today. Capital markets are continuing to expand as a source of funding for both U.S. and international airlines as well as leasing companies. All of this is possible due to balanced global air travel demand and a replacement market driven by higher fuel costs and the attractiveness of new, fuel-efficient airplanes, Zolotusky said. While the forecast deals primarily with new-aircraft financing, the report also noted signs of improvement in used aircraft financing after several years in which higher fuel prices and other economic factors disrupted the balance between the new and used jetliner markets.
December 10, 2013 · 5 Views
Eurolot S.A. of Warsaw, Poland has reaffirmed its confidence in Bombardier’s Smart Parts program by enrolling its three newest Q400 NextGen aircraft. Eurolot, which took delivery of the new aircraft on October 29th, 2013, now has a total of 11 Q400 NextGen aircraft enrolled in the program. The Smart Parts agreement is customized to meet Eurolot’s specific operational and performance needs and will continue to provide the airline with competitive and predictable component exchange and repair costs, as well as superior quality and availability of key components, for its fleet of 11 Q400 NextGen turboprops. Eurolot is the first Polish airline to fly Q400 airliners. As part of an accelerated fleet renewal and route expansion strategy, Eurolot ordered eight Q400 NextGen aircraft in March 2012, with options for another 12, six of which were converted into firm orders.
December 10, 2013 · 8 Views
EADS presented a restructuring plan on December 9th, for its future Airbus Defence and Space Division (Airbus DS) to the European Works Council. This presentation follows a decision by the EADS Board of Directors in July this year to consolidate the defence and space businesses of the Group into one new Division and to rebrand EADS into “Airbus Group”. Overall, EADS plans to reduce (headcount) 5,800 positions at Airbus DS and in Corporate / Headquarters functions until the end of 2016. Up to 1,500 positions will be offered at Airbus and Eurocopter for redeployment of impacted employees. After non-renewal of temporary contracts (around 1,300) and application of additional voluntary measures, final redundancies are estimated in the range of 1,000 – 1,450 employees, subject to the achievement of the voluntary measures. The Group also intends to enter into negotiations with its works councils to seek agreements on labour cost reductions which could help mitigate the social impact of the restructuring plan. As part of the overall headcount reduction, Corporate functions and services will be slimmed down by around 500 positions. EADS is now launching the work with the Works Councils to find the right social measures and solutions for all impacted employees. The restructuring plan for the defence and space businesses of the Group will result in a substantial consolidation of sites across Germany, France, Spain and the United Kingdom. For cost and operational reasons, the new Division – Airbus DS – will simplify and consolidate its legal structures. The new Division will start operating at executive level as of January 1st, 2014. After the consultation process with the works councils, expected to be concluded by mid-2014, the three entities – Airbus Military, Astrium and Cassidian – will be fully integrated and operational at all levels as Airbus DS.