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Thursday, March 20, 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.

Waypoint Leasing choose AerData’s CMS and STREAM software packages

March 18, 2014 · 7 Views

Waypoint Leasing, a leading global helicopter leasing company, has chosen AerData to support its leasing and records management as it grows its customer base, takes delivery of new aircraft and expands its business. CMS (Corporate Management System) is the leading lease and asset management solution used by the majority of the world’s aircraft, helicopter and engine leasing organizations. STREAM (Secure Technical Records for Electronic Asset Management) is the industry’s foremost web-based solution used by some of the world’s largest airlines, lessors and MROs to manage technical records.

Boeing begins expansion of 737 Commercial Delivery Center

March 18, 2014 · 17 Views

Boeing kicked off expansion of its 737 Commercial Delivery Center (CDC) at Boeing Field in Seattle. The project more than doubles the space that will be available for customers and groups supporting increased 737 deliveries. The expanded CDC will be more than 90,000 ft² and include a new three-story building, as well as new delivery and departure areas with three covered jetways. The design features an open, airy look with large windows overlooking the Boeing Field flight line. The CDC expansion is the latest of many investments Boeing is making across the Puget Sound region and in the future of the 737 program.

LATAM Airlines posts net loss of $46.1 m for fourth quarter

March 18, 2014 · 18 Views

LATAM Airlines posted a net loss of $46.1m for the fourth quarter due to a drop in revenue and a foreign exchange loss stemming from the Brazilian real’s depreciation, the company said on Monday, March 17th. The company, formed in mid-2012 when Chile’s flagship LAN took over Brazil’s TAM, posted a net loss of $69.8m in the fourth quarter of 2012. Total revenues in the fourth quarter fell 2.1% to $3.4bn due to sliding passenger and cargo revenue and the weaker Brazilian currency. For full-year 2013, the regional carrier’s net loss amounted to $281.1m, versus a loss of $523.1m the prior year. Looking forward, LATAM Airlines said it has $3.06bn in fleet investment commitments between 2014 and 2015. It said it expected operating margin to be about 6 to 8% for full-year 2014, excluding non-recurring costs related to fleet restructuring. That compares to an operating margin of 4.9% in 2013 and 0.7% in 2012.

go! Hawaii’s low fare airline to cease service April 1st

March 18, 2014 · 7 Views

Mesa Air Group will cease its Hawai’i operations effective April 1st, 2014. Since June 2006, go! has served its nearly five million passengers with safe, reliable and low fare service. The decision to cease operations in Hawaii follows significant growth in the Company’s flight operations on the mainland and was a strategic decision to focus the organization on maximizing its growth in the capacity purchase “codeshare” operations which comprise over 98% of the Company’s business.

Amur Finance Company introduces new joint venture

March 18, 2014 · 24 Views

Amur Finance Company has entered into a 50/50 joint venture between AFC and the owners of Jet Midwest to form Amur JMW Aviation (AJMWA). As a culmination of a mutually beneficial relationship, AJMWA will combine the technical expertise currently offered by Jet Midwest with the financial expertise offered by Amur Finance Company — providing efficient fleet solutions through a network of partner companies. Mostafiz ShahMohammed, founder and CEO of AFC, and Paul Kraus, founder and CEO of Jet Midwest, will serve as Co-Chairs of the Board for the newly formed AJMWA.

Gogo’s Business Aviation Group unveils new communications system

March 18, 2014 · 33 Views

Gogo released that its business aviation group, Aircell, has unveiled the ST 4300 – a new in-flight communications system for business aircraft. The ST 4300 combines voice, narrowband data and cockpit data link services into a single unit. Available with one, two or three Iridium voice/narrowband data channels, plus one dedicated Iridium data channel, the system allows business aircraft operators to configure cabin and flight deck communications based on their specific needs and budgets. It provides global service coverage – on the ground and in the air, at all altitudes and latitudes – including the polar regions. In the future, the ST 4300 is expected to be eligible for FANS (Future Air Navigation System) certification. FANS technologies allow flight crews and air traffic controllers to exchange safety-sensitive flight information – such as clearances, requests and position reporting – via digital data link. This capability is becoming mandatory in a growing number of world regions.

PremiAir and ASU sign joint venture to sell night vision technology in Europe

March 18, 2014 · 36 Views

PremiAir Aviation International Ltd, U.K., has announced that it has entered into a transatlantic joint venture with Aviation Specialties Unlimited, Inc., (ASU) of Boise, Idaho, USA to bring innovative new night vision technologies to the U.K. and other European countries. Under the terms of the joint venture – which was signed at the recent Helicopter Association International annual HELI-EXPO in Anaheim, California – PremiAir and ASU will jointly supply, sell and support night vision products, maintenance, training and aircraft modification services in the U.K. and Continental Europe. ASU is a specialist in night vision systems integration for fixed wing aircraft and helicopters.

Boeing and Turkish Airlines mark delivery of first airplane featuring galleys from Turkish Cabin Interiors

March 18, 2014 · 28 Views

Boeing and Turkish Airlines are marking the delivery of the first commercial airplane – a Next-Generation 737-800 – outfitted with galleys manufactured by Turkish Cabin Interiors (TCI). Turkish Airlines will receive nine more 737s this year equipped with TCI galleys. TCI is the first Turkish aerospace manufacturing company to design, manufacture and certify products for the aerospace market, paving the way for ongoing development of aerospace capabilities in Turkey. Boeing has been assisting TCI in the development of airplane interior products since shortly after the company was founded through the joint effort of Turkish Airlines, Turkish Aerospace Industries and Turkish Technic. With this milestone, TCI brings added capacity and capability to the global supply chain as commercial airplane production ramps up.

Eagle Aviation welcomes Nelson Clayton as new Service Sales Representative

March 18, 2014 · 66 Views

Eagle Aviation, a full service Fixed Base Operator centrally located on the eastern seaboard, providing convenient, quality service to the general aviation industry, welcomed Nelson Clayton as its new Service Sales Representative. As the new Service Sales Representative, Nelson will build and maintain relationships with current and potential customers to increase new and continuing business opportunities. Nelson brings with him over 25 years of experience in the aviation industry and also holds an A & P License. He comes from Jet Aviation, St. Louis (former ly MidCoast Aviation), where he served as the Maintenance Sales Manager for 4 years.

Lufthansa Technik’s good result creates foundation for investment

March 18, 2014 · 119 Views

Lufthansa Technik Group’s 4.2% increase in revenue to €4.2bn in 2013 was characterized by stable business development within the Lufthansa Group and an increase in business with external customers, whose share of the total revenue rose by 1.7% to reach 62.2%. The operating result improved considerably, climbing by 23.2% to €404m, with an operating margin of 10.9%. “In addition to the good order situation, it was above all the significant cost reductions resulting from the SCORE program’s measures that made our excellent result in 2013 possible,” said Dr. Peter Jansen, CFO of Lufthansa Technik AG on March 18 in Hamburg. “We were able to respond to the high price and cost pressures in the market with a reduction in unit costs, more efficient administration, the restructuring of our network and numerous individual measures. On this basis, we will further improve the competitiveness of the Lufthansa Technik Group through the introduction of new aircraft types and state-of-the-art technologies and the focused continuation of our SCORE program.” Total operating expenses grew by 2.5% to €4.0bn. Due to a higher volume of modifications and the overall increase in VIP and engine business, the cost of materials increased by 5.2% to €2.1bn. The company’s reduced staffing level meant that, despite the collective agreement pay increase valid from August 2013 and rising expenses for pensions and staff reduction measures, personnel costs remained largely the same at €1.2bn euros. At €99m, other depreciation, amortization and impairment losses also remained largely at the previous year’s levels. Other operating expenses declined slightly to €610m (- 0.8%) owing mainly to currency effects.

Corendon Dutch Airlines selects flight focus to provide wireless in-flight entertainment

March 19, 2014 · 42 Views

Corendon Dutch Airlines has selected Flight Focus to provide a wireless in-flight entertainment system for its fleet of Boeing 737-800 aircraft. The airline will be the first European charter operator to offer wireless in-flight entertainment across their entire fleet. The solution will enhance the passenger experience by providing entertainment, information and shopping through the passengers’ own personal electronic device whilst opening up new ancillary revenue opportunities for the airline. The Flight Focus solution that Corendon will deploy comprises Flight Focus’s own FFP-2 Server and NGA Wireless Access Points that together have been proven capable of streaming video to every passenger simultaneously on both narrow and wide-body aircraft.

New home for Lufthansa Technik’s Central Materials Technology

March 19, 2014 · 33 Views

During the second quarter of 2014, Lufthansa Technik AG will commission a new complex of buildings in Hamburg representing a construction investment of some €20m. This project is yet another milestone in the company’s ongoing investment program at its home base. In addition to offices and workshops, the Central Materials Technology department – one of Lufthansa Technik’s most important high-tech areas – will be sited at the new complex, and will include a completely new chemistry lab. Central Materials Technology at Lufthansa Technik is responsible for component and system assessment, production resource monitoring, the testing of all fluids used in aircraft, from hydraulic oil to cleaning agents, materials verification, and the evaluation of new technologies, among other things. The team of about 20 employees is composed of highly qualified engineers and laboratory staff, whose extensive expertise is used well beyond the bounds of Lufthansa Technik. How do new materials respond to the use of traditional cleaning agents? Do two flame-resistant seat covers still meet fire safety regulations when they are combined with another insulating material? Can a welding joint be the source of crack formation? These are typical questions for the experts at Central Materials Technology.

Luxair selects Bruce Aerospace LED cabin lighting for sidewall and ceiling lighting for B737-700 fleet

March 19, 2014 · 31 Views

Bruce Aerospace has added Luxair to its growing list of customers for its popular XLume B737NG LED Lighting product line. The first installation took place on 25th November 2013, at the Luxair facility in Luxembourg and the aircraft is now in commercial service. The product line offers airlines a drop-in replacement for the OEM supplied fluorescent cabin lighting fixtures which enhance the cabin with the environmentally friendly and cost effective Bruce Aerospace LED fixtures. Certification being achieved by the existing STC, which covers the fitment of new sidewall lights with lenses in neutral white and ceiling lights with the bi-colour option of blue & white. In addition, Bruce will supply LED plug & play lights solutions including; forward and rear entry lights, reading lights and NSFSB signs. The installation of the “plug & play” LED fixtures was easily accomplished using the existing wiring and controls. With an LED life of over 60,000 hours, Luxair will save costs on labour & materials for lamp replacement, not to mention savings on disposal of “hazardous lamps”. Additionally, the aircraft will burn less fuel due to the weight savings and reduced power consumption of the LED fixtures.

Avinco places A321-200 on behalf of Nouvelair

March 19, 2014 · 35 Views

Avinco, the aircraft trading and portfolio management company, has arranged the sale of an A321-200 on behalf of Nouvelair Tunisia. This first aircraft of two, bearing MSN 970, was delivered on the 17th of March. The Aircraft are being purchased by Apollo Aviation Group and will be leased to Germania.

Comair places $210m LEAP-1B engine order

March 19, 2014 · 40 Views

South Africa’s private domestic airline operator, JSE-listed Comair Limited, placed an order for LEAP-1B engines to power eight Boeing 737 MAX 8s, making Comair the first African airline operator to order the new 737 MAX. The LEAP-1B is the sole powerplant for the Boeing 737 MAX schedule to go into production in 2017. This engine order, which is valued at $210m U.S. at list price, supports Comair’s long-term objective of investing in future technology to ensure continuous sustainability.

PPG to invest $27m in San Juan del Rio facility

March 19, 2014 · 34 Views

PPG Industries announced plans to invest more than $27m in its San Juan del Rio, Queretaro, Mexico, coatings manufacturing facility. The expansion project will add four new buildings to the current complex, representing approximately 100,000 ft² of additional production and laboratory space. The company officially initiated the expansion on March 18th, with a groundbreaking event and anticipates completion in 2015. The expanded facility is expected to employ more than 115 people, a 30% increase over its current workforce. The additional capacity will enable PPG to meet increasing demand for its coatings by automotive OEM, protective and marine, packaging and industrial customers in Mexico. The expansion project will incorporate eco-friendly building designs, provide natural light in employee areas, use intelligent lighting systems to maximize energy efficiency and incorporate water recycling capabilities.

Air Lease Corporation places one new Boeing 777-300ER with Emirates

March 19, 2014 · 33 Views

Air Lease Corporation announced a long term lease agreement with Emirates for one new Boeing 777-300ER aircraft, which is scheduled for delivery in 2015.

Boeing expects balanced new-airplane financing as 2014 market unfolds

March 19, 2014 · 25 Views

Boeing expects the market for financing new aircraft to remain strong as airline customers continue to demand for new, fuel-efficient airplanes. “Globally the liquidity balance looks good as the industry rebalances itself to move away from export credit support, with its more expensive pricing, and more toward reliance on the commercial markets,” said Tim Myers, vice president/general manager for Aircraft Financial Services at Boeing Capital Corp., the aircraft builder’s financing and leasing unit. Myers was among aircraft financing panelists at the annual ISTAT Americas conference for global professionals working to connect commercial aircraft financing needs with those seeking aircraft investments. Boeing said that airplane financing globally is experiencing a rare balance among primary delivery financing sources – leasing companies, commercial banks, the capital markets, export credit agency (ECA) support and private equity and hedge funds among them – as global 2014 deliveries head toward an expected roughly $112bn total.  Boeing noted that the overall healthy new-aircraft financing market encompasses well known financing sources and smaller regional commercial institutions, many entering aircraft financing for the first time.

Boeing Commercial Airplanes Customer Support & Services leader to retire

March 19, 2014 · 23 Views

Lou Mancini, who has served as the leader for Boeing’s commercial airplane customer support and after-market products and services, will retire from the company after 12 years of service. Stan Deal has been appointed to succeed him. Mancini will transition his assignment to Deal, who is named senior vice president of CAS, effective immediately. Mancini will retire on June 1st.

El Al Israel Airlines reports financial results that finalize 2013

March 19, 2014 · 52 Views

Revenues from operations for the present year grew by about $2103.00m compared to $2015.6m in 2012, a 4% increase. Passenger revenues grew by about 4.9%, largely as a result of increased passenger numbers. Cargo revenues decreased by about 3.3% as a result of the drop in the average ton-kilometer revenue. Operating costs in 2013 were $1754.2m compared to $1701.7m in 2012 – an increase of about 3.1%, which is a lower ratio than the ratio of Company revenue increases. The increase in operating costs stems largely from the increased cost of salaries and the increase in passenger numbers and flight hours flown. The ratio of operating costs on turnover dropped from about 84.4% in 2012 to about 83.4% in 2013. Net profit for 2013 was about $25.4m compared to a loss of about $18.00m in 2012. Cash flow from regular activities increased significantly during the year ended 31st December 2013 and totaled about $185.3m, an increase of about 137% compared to a cash flow from regular activities of $78.3m in 2012. The EBITDA of El Al for 2013 increased to about $141.9m (about 6.7% on turnover), compared to $121.7m (about 6% on turnover) in 2012.