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Saturday, February 15, 2014

AviTrader Daily Aviation News Alert

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

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.

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

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.

Design flaws led to 787 battery fire

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.

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

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.

Air France-KLM selects GEnx engines for Boeing 787 fleet

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.

ILFC closes $1.5bn senior secured term loan

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.

Airbus Commercial reports another year of financial improvement

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).

Boeing Commercial Airplanes reports full year revenue of $53bn

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.

A350 XWB in Bolivia for high altitude testing

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.

Firefly welcomes first ATR 72-600

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.

GE’s Passport engine begins first full engine test

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.

Rolls-Royce wins order from CIT to power 23 aircraft

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.

Embraer Executive Jets signs contract with Hawker Pacific for Legacy 500 and Legacy 450 support in Asia Pacific

February 13, 2014 · 27 Views

Embraer Executive Jets has signed a contract with Hawker Pacific to provide full maintenance support to Legacy 500 and Legacy 450 customers in the Asia Pacific region. This agreement comes ahead of the Legacy 500 midsize jet’s entry into service in the first half of 2014. The Legacy 450 mid-light jet’s certification is expected a year later.

Rolls-Royce 2013 full year results

February 13, 2014 · 10 Views

Rolls-Royce’s underlying revenue increased 27% to £15.5bn, including £2.6bn in revenue from Tognum. Excluding Tognum, the Group’s revenue increased 6% to £12.9bn, with 7% growth in original equipment and 4% growth in services. In 2013, 47% of the Group’s revenue was generated by the sale of aftermarket parts and services (52% in 2012). Underlying profit before tax increased 23% to £1.8bn, including a £180m increase from Tognum. Excluding Tognum, profit increased 11% to £1.5bn, reflecting volume growth, continued strong margins in Defence Aerospace and the restructured relationship with International Aero Engines. The order book increased 19%, to £71.6bn, up 16% excluding Tognum. Power Systems’ order book of £1.9bn, reflects growth of 6%. Rolls-Royce received orders for engines to power 334 widebody aircraft; a significant year for Civil Aerospace. The order book increased in Civil Aerospace, Marine, Energy and Power Systems, but decreased in Defence Aerospace. The order intake in 2013 included new orders of £18.9bn in Civil Aerospace, £1.6bn in Defence Aerospace, £2.7bn in Marine, £1.1bn in Energy and £2.7bn in Power Systems. The regional composition is broadly unchanged, with Asia and the Middle East representing 49% of the total order book.

India’s Air Costa places firm order for 50 E-Jets E2s

February 13, 2014 · 6 Views

Embraer S.A. has signed a definitive agreement with India’s Air Costa for a firm order for 50 E-Jets E2s with an additional 50 purchase rights. The acquisition is a mix of 25 E190-E2s and 25 E195-E2s and has an estimated value of $2.94bn based on 2014 list prices. The purchase rights are for an additional 25 E190-E2s and 25 E195-E2s, bringing the total potential order to up to 100 aircraft and can reach $5.88bn if all are exercised. This transaction raises the total E-Jets E2 orders to 200 firm and 200 options/purchase rights since the launch of the E2 program, in June 2013. Air Costa has become the first customer of E-Jet E2s in the Indian market and will take delivery of the E190-E2 in 2018. The E195-E2 is scheduled to enter service in 2019. Today, the airline flies four E-Jets: two E170s and two E190s. Air Costa is based out of Vijayawada, Andhra Pradesh.

Sabaidee Airways signs agreement with Ameco Beijing

February 13, 2014 · 20 Views

Sabaidee Airways signed an agreement with Ameco Beijing during Singapore Airshow on February 12th, which covers customer’s fleet service from 2014 to 2018 including AOG support, airframe C/D check, engine repair/overhaul, LDG repair/overhaul.

TransAsia Airways’ first ATR 72-600 on its way to Taiwan

February 13, 2014 · 23 Views

Taiwanese full service airline, TransAsia Airways collected its first new ATR 72-600 plane at a ceremony with ATR, the world’s largest manufacturer of regional turboprop aircraft, in Toulouse, France today. The plane is the first of 12 ATR 72-600s ordered by TransAsia Airways as part of its fleet renewal and growth program. Other planes, which will gradually replace the aircraft currently operated by TransAsia, are scheduled to be delivered within the next 2 years. The airline will start commercial services on February 21st from Taipei Songshan Airport to Magong, gradually expanding services to all other domestic routes. The investment in new planes is part of the airline’s modernization plan, which maintains Trans Asia as one of Asia’s top regional airlines.

BNP Paribas (France) to be financing arranger for VietJetAir’s aircraft order

February 13, 2014 · 1235 Views

At the Airshow in Singapore BNP Paribas and VietJetAir have reached a mutual agreement wherein BNP Paribas was assigned to be the adviser and financing arranger for VietJetAir’s aircraft order. In which BNP Paribas will arrange financing for the first three aircrafts that VietJetAir will receive in 2014. The value of these three aircrafts is at US$270m. The two parties also agreed that BNP Paribas will be VietJetAir’s strategic partner in other aircraft financing plans in the future. BNP Paribas is a leading international bank in aviation finance, serving 128 airlines and aircraft leasing firms. In 2012 and 2013, the bank helped consulting and arranged financing for 125 aircrafts and the amount of loans that BNP Paribas has arranged was US$7.4bn in 2012.

East Air sign five year agreement with AJW Aviation

February 13, 2014 · 9 Views

AJW Aviation has signed a five year framework agreement with East Air the private carrier based in Tajikistan. The airline operates one A320-300 and one Boeing 737-400 aircraft and will be fully supported by AJW across the supply and repair of components, as well as AJW’s global AOG service. This end-to-end programme is backed up by AJW’s strategic inventories located in Russia and Eastern Europe, and the dedicated Russian speaking support teams across the region. East Air was the first private airline in Tajikistan, and the first to fly Boeing and Airbus aircraft in the country. Since 2007 East Air has operated flights to Moscow, St. Petersburg, Novosibirsk, Yekaterinburg, Kazan and Orenburg.

Aerolíneas orders GE’s CF6 engines for Airbus A330 fleet

February 13, 2014 · 2 Views

Aerolíneas Argentinas ordered GE’s CF6-80E1 engines to power its four new Airbus A330-200 aircraft. “GE and Aerolíneas Argentinas have a strong relationship with the majority of their fleet powered by GE or CFM56* engines,” said Doug Izarra, Vice President for the Americas Sales at GE Aviation. “The selection of CF6-80E1 engines will continue to strengthen our relationship and demonstrates Aerolíneas Argentinas continued commitment to GE technology.”

Nepal Airlines Corporation selects V2500 SelectOne engines for A320ceos’

February 13, 2014 · 28 Views

Nepal Airlines Corporation (NAC) has signed its first order with IAE International Aero Engines AG to supply V2500-A5 SelectOne engines to power two new firm A320ceo aircraft plus options for two additional aircraft. Aircraft deliveries are scheduled for 2015.

Triumph Group elects new Senior Vice President and Chief Financial Officer

February 13, 2014 · 29 Views

Triumph Group released that Jeffrey L. McRae had been elected Senior Vice President and Chief Financial Officer in accordance with a previously announced transition. He succeeds M. David Kornblatt, who has assumed new duties with the company as Director of Corporate Development.

Copa Holdings reports net income of $113.9m for fourth quarter 2013

February 13, 2014 · 19 Views

Copa Holdings reported net income of $113.9m for 4Q13, as compared to net income of $86.6m in 4Q12. Excluding special items, which for 4Q13 includes a non-cash impairment charge of $31.2m on Intangible Assets booked in 2005 related to the acquisition of AeroRepublica (now Copa Colombia) and a non-cash gain of $2.6mn associated with the mark-to-market of fuel hedge contracts, Copa Holdings would have reported adjusted net income of $142.5m compared to adjusted net income of $89.3m 4Q12. Net income for full year 2013 reached $428.2m, compared to $326.5m for full year 2012. Excluding special items, which for 2013 includes a non-cash impairment charge of $31.2m on Intangible Assets booked in 2005 related to the acquisition of AeroRepublica (now Copa Colombia), a $13.9m loss related to the Venezuelan devaluation of February 2013, and a non-cash gain of $5.2m associated with the mark-to-market of fuel hedge contracts, Copa Holdings would have reported an adjusted net income of $468.1m, compared to adjusted net income of $336.1 for full year 2012.

Tigerair awarded Pure-V engine designation

February 13, 2014 · 15 Views

IAE International Aero Engines has awarded Singapore-based operator Tigerair the Pure-V designation for V2500 engines powering its aircraft. A Pure-V designated engine contains IAE-approved parts and repairs throughout the entire engine. The program was created to provide a designation IAE customers’ engines that have been maintained to OEM standards, for example those covered by a Fleet Hour Agreement (FHA), and to recognize the superior value of these engines. According to IAE’s records, approximately 60% of the V2500 fleet qualifies as Pure-V.

Pakistan International Airlines awards P&W PW4000 engine management program

February 13, 2014 · 33 Views

Pratt & Whitney has signed an exclusive, three-year Engine Management Program (EMP) agreement with Pakistan International Airlines (PIA) to maintain the airline’s fleet of 12 PW4152 installed engines. The Pratt & Whitney engines that are covered under this agreement power PIA’s fleet of A310 aircraft.

P&W to provide fuel efficient PurePower engines on Air Costa order for 50 Embraer jets

February 13, 2014 · 28 Views

Pratt & Whitney will provide exclusive power for 50 firm Embraer E-Jets E2 aircraft, with an additional 50 purchase rights, for an order announced by Embraer and Air Costa. Deliveries are scheduled to begin in 2018. The PurePower Geared Turbofan (GTF) engine family has more than 5,000 orders and commitments, including options.

THAI Smile extends Airbus’ Flight Hour Services contract to 20 A320 aircraft

February 13, 2014 · 13 Views

THAI Smile, a subsidiary of THAI Airways and Airbus have extended their existing 15 years ‘Flight Hour Services – Tailored Support’ (FHS-TSP) contract, adding nine additional leased A320 aircraft to cover its entire fleet of 20 A320 aircraft. The contract provides an extensive scope of A320 line replaceable units (LRUs), guaranteed spare parts availability through Pool access service and on-site stock at THAI Smile’s main base and selected outstations, repair services, logistics services, tools availability, APU and nacelle services.

Norwegian acquires four new 787-9 Dreamliners

February 13, 2014 · 33 Views

Norwegian has signed an agreement to acquire four new Boeing 787-9 Dreamliners. This means that the company has ordered 14 wide-body aircraft in total; three of which are already in service. The 787-9 is larger than the 787-8 that Norwegian currently operates on its long-haul routes. Norwegian continues to expand its international operations by entering into an agreement with International Lease Finance Corporation (ILFC) to lease four Boeing 787-9 Dreamliners. The new Dreamliners are expected to enter service in 2017 and 2018.

Bombardier posts earnings of $418m in fiscal year 2013

February 13, 2014 · 29 Views

Bombardier Aerospace’s revenues amounted to $2.9bn for the three-month period ended December 31, 2013, compared to $2.6bn for the corresponding period last fiscal year. For the year, revenues totalled $9.4bn, compared to $8.6bn last fiscal year. For the fourth quarter ended December 31, 2013, EBIT totalled $93m, or 3.2% of revenues ($94m, or 3.3%, before special items), compared to $84m, or 3.2%, for the same quarter the previous year. EBIT before special items totalled $388m or 4.1% of revenues for the year ended December 31, 2013, compared to $367m, or 4.3% last fiscal year. For the year, EBIT was $418m, or 4.5% of revenues, compared to $390m, or 4.5%, last fiscal year. Free cash flow totalled $87m for the fourth quarter ended December 31, 2013, compared to $277m for the corresponding period last fiscal year. For the year ended December 31, 2013, free cash flow usage totalled $1.2bn compared to a usage of $867m for the last fiscal year. A total of 238 aircraft were delivered during the year ended December 31, 2013, compared to 233 for the last fiscal year, mostly in line with guidance.

Singapore Airshow 2014 wraps up trade days with deals worth US$32bn

February 14, 2014 · 19 Views

Singapore Airshow 2014 wrapped up the trade segment of the six-day event with deals announced worth US$32bn, surpassing the value of deals announced in 2012. Major announcements include contracts for Airbus, Embraer, Boeing and Rolls-Royce. This reinforces Singapore Airshow’s standing as one of the most important aerospace and defence exhibitions in the world. Singapore Airshow 2014 played host to over 1,000 exhibitors from 47 countries and 279 delegations from 72 countries. In all, over 40,000 trade visitors from 125 countries visited the show during the first three trade days, compared to some 38,000 in 2012. Of these, 33% were from overseas. 72% of exhibitors from this year’s Airshow have already reaffirmed their plans to exhibit at the next Airshow in 2016, underscoring the relevance of Singapore Airshow as an essential platform to network and seize opportunities in key markets in the Asia-Pacific and beyond.

WestJet selects Panasonic for inflight entertainment and connectivity

February 14, 2014 · 26 Views

WestJet has signed a multi-year agreement with Panasonic Avionics Corporation to provide the airline with a new inflight entertainment system with the ability to feature wireless satellite internet connectivity, live streaming television, on-demand movies, magazines and more. Guests will be able to use their own personal electronic device (PED) or laptop computer to receive live and stored content streamed wirelessly from a server on board each WestJet Boeing Next-Generation 737 aircraft.

Alaska Air Group announces leadership changes

February 14, 2014 · 27 Views

Alaska Air Group’s board of directors has approved several leadership changes in the company’s Legal Division. Herman Wacker, Air Group’s deputy general counsel and managing director of legal, has been elected vice president of legal. Shannon Alberts, managing director of corporate affairs and assistant corporate secretary, has been elected corporate secretary. Kyle Levine retains his role as deputy general counsel and managing director of legal, and replaces Alberts as assistant corporate secretary.

Cargolux Airlines finalizes order for additional 747-8 Freighter

February 14, 2014 · 43 Views

Cargolux Airlines announced an order for an additional 747-8 Freighter. The order, valued at $357.5m at list prices, is the 14th 747-8 Freighter the Luxembourg-based cargo carrier has ordered from Boeing.

STA Systems to be appointed an AgustaWestland Authorized Component Repair Centre

February 14, 2014 · 32 Views

AgustaWestland signed a Letter of Intent (LoI) to appoint STA Systems of Singapore, a subsidiary of ST Aerospace, as an Authorized Component Repair Centre for dynamic components of the AW109 range of light twin engine helicopters and the AW139 intermediate twin engine model. STA Systems plans to start operations by mid-2014, performing main and tail rotor component repairs for AW109 Power, Grand, GrandNew and AW139 helicopters across the region.

Airbus Group to acquire Salzburg München Bank, establish Company Bank

February 14, 2014 · 50 Views

Airbus Group has entered into a Share Purchase Agreement with Raiffeisenverband Salzburg to acquire Salzburg München Bank AG, in order to provide additional financing options for the aeronautics and defence company. Salzburg München Bank, owned 100% by Raiffeisenverband Salzburg, is a small fully-licensed bank based in Munich serving small and medium enterprises (SMEs) and private clients. After closing, it will be renamed Airbus Group Bank and gradually be developed to provide finance solutions to support the Group’s businesses. The transaction will not have any immediate effects on Salzburg München Bank’s existing clients or business.