Thursday, May 08, 2014
AviTrader Daily Aviation News Alert
This is an overview of all articles linked within the selected daily newsletter.
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February 20, 2015 · 556 Views
The bitter dispute between US- and Gulf-based airlines has reached a new level after Emirates flatly rejected an open apology made concerning what was seen as incredibly tactless and insensitive remarks made by Delta’s Chief Executive, Richard Anderson. The unfortunate incident relates back to comments made by a group of American airlines that a number of the larger Gulf carriers had benefited from state subsidies amounting to a figure in excess of US$40bn. As a consequence the American airlines either wanted to renegotiate or scrap the current Open Skies agreement.
Offended by such claims, the Gulf carriers retaliated by questioning whether or not US airlines had received government subsidies totaling US$5bn in the wake of 9/11. Unfortunately Delta’s Anderson, responding to this claim on CNN, said: “It’s a great irony to have the United Arab Emirates from the Arabian Peninsula talk about that, given the fact that our industry was really shocked by the terrorism of 9/11, which came from terrorists from the Arabian Peninsula.” While the UAE and Qatar, two of the States’ allies who have offered either military or logistical support for international operations were particularly upset by these comments, Delta simply made it clear that Anderson had been responding to claims regarding post 9/11 subsidies. “He didn’t mean to suggest the Gulf carriers or their governments are linked to the 9/11 terrorists. We apologize if anyone was offended.”
Unfortunately the largest of the three main Gulf carriers did not see this as acceptable. “We believe that the statements made this week by Mr. Anderson were deliberately crafted and delivered for specific effect,” it confirmed in a statement. However US airlines continue to complain that they have lost significant numbers of bookings since 2008 as a result of Gulf competition and cited documents they indicate demonstrate aid which has allowed their competitors to offer cheap fares. In retaliation, Gulf officials say that most US carriers do not fly the same routes and are losing business only because they offer an inferior service.
This is not a dissimilar situation to the one between Gulf airlines and European carriers, including Lufthansa, and coincidentally has come at the same time as US airlines are trying to have US Exlm Bank closed down. They believe Gulf carriers are benefitting to a greater degree from the export credit agency. The tit-for-tat dialog continues with Western airlines showing concern for the safety of thousands of service industry jobs, a complaint to which Gulf carriers have responded by making it very clear they support at least as many jobs in the aerospace sector with their huge orders for aircraft.
February 20, 2015 · 655 Views
Snecma (Safran), a leading manufacturer of aircraft engines, and Hindustan Aeronautics (HAL), a leading aerospace manufacturer, signed a Memorandum of Understanding (MoU) on January 28th, 2015 in Bangalore to explore establishing a joint venture in India for the production of aero-engine parts. The proposed joint venture will initially focus on the manufacture of high-tech parts for the Dassault Rafale’s Snecma M88 engine, then subsequently contribute to other major aerospace projects of HAL & Snecma, in India and worldwide. Spanning over 30,000 m², the proposed joint venture’s new plant is expected to benefit from substantial investment by the two partners, providing it with state-of-the-art machinery and equipment. This agreement marks a major step forward in the long-standing collaboration between Snecma and HAL. The proposed joint venture will further broaden the scope of the excellent relations established over the past 60 years between Safran affiliates and the Indian aerospace industry. For example, Snecma manufactures the M53 engines powering the Mirage 2000H “Vajra” fighters operated by the Indian Air Force.
December 2, 2014 · 197 Views
On the 7th January 2013 a fire was reported on board a Boeing 787 Dreamliner while parked at Boston’s airport in the USA. The fire was put down to a problem with one of the plane’s lithium-ion batteries. A week later an All Nippon Airways 787 Dreamliner had to make an emergency landing after smoke was discovered inside the plane which was subsequently traced back to another lithium-ion battery. As a consequence of this incident, all 787 Dreamliners were grounded until April of that year until further acceptable testing and improvements were carried out to the battery system on board the plane. The battery itself was manufactured by GS Yuasa and comprised eight individual cells making up a combined weight of 63lbs.
Nearly two years later and the results of the investigation into the first incident have concluded that the lithium-ion battery installed in the plane should not have received certification by the FAA. The National Transport Safety Board (NTSB) were also critical of Boeing who they believed had erroneously ruled out the chances of thermal runaway in its assessment of the battery’s safety. Boeing’s battery tests to obtain original certification included crushing battery cells, driving nails through them and deliberately introducing short circuits to cause failure. Boeing found “nothing adverse happened” while these tests were carried out, and so deemed the battery’s box and internal protection to be of an acceptable standard. Boeing stated that it had followed the certification process set out by the FAA. It would seem that while the cause of the fire has been clearly identified, responsibility for its occurrence has not been accepted in full by anyone.
November 5, 2014 · 164 Views
Back in February this year, Rolls-Royce, the FTSE-100 engine maker, lost over £3bn of its value after shocking the market with its first profits warning in a decade. To announce a second one this October has created considerable concern and Rolls-Royce has decided that over the next 18 months they need to reduce costs by up to £80m a year by axing 2,600 jobs, the majority of which will be in the aerospace sector in Britain and the United States. The focus is on Rolls-Royce’s key Trent engines as they move from the development to the production phase, which consequently requires fewer engineers.
Back in February John Rishton, Rolls-Royce group’s Chief Executive, had admitted that the future was “bumpier than I had expected”, while blaming the current problems on deteriorating economic conditions and a tit-for-tat trade war between the EU and Russia over the Ukrainian crisis which had affected its nuclear and energy business as well as its power-systems unit. This week Rishton has had to admit that “We are taking determined management action and accelerating our progress on cost. The measures announced today will not be the last; however they will contribute towards Rolls-Royce becoming a stronger and more profitable company.”
Another consequence of the situation is the unexpected departure of Finance Director, Mark Morris, leaving the company after 27 year without any explanation. He will be replaced by David Smith, who is being promoted from Finance Director of the Rolls-Royce Aerospace division. This second profit warning saw share value fall 11% to 832p, wiping a further £2bn off the company’s value. However, news of the redundancies was well received by investors and the share price rallied by 2%, currently standing at 832p. This is clear confirmation of comments made by Espirito Santo’s analyst, Ed Stacey, who indicated that investors would be expecting a clear message from the new Finance Director and tight control on all finances.
March 25, 2014 · 113 Views
Air France-KLM selected the GEnx-1B engine to power its 25 Boeing 787 Dreamliners and 12 leased 787 aircraft. The total engine order is valued at more than $1.7bn. Air France-KLM and GE Aviation have also signed an agreement that will allow Air France-KLM to offer maintenance, repair and overhaul (MRO) services for the GEnx-1B engine. Under this agreement, Air France-KLM will be licensed to perform maintenance and overhaul work on the GEnx-1B engine and GE will provide technical support and assistance on overhaul workscoping and component repair licenses, comprehensive material support and training.
March 7, 2014 · 80 Views
International Lease Finance Corporation (ILFC) has closed a new senior secured term loan of $1.5 billion. The loan will bear interest at LIBOR plus 275 basis points with a 0.75% LIBOR floor, is priced at 99.5% of par value, and will mature in 2021. The collateral used to support the transaction has an initial weighted average age of 9.1 years. It will be secured primarily by a first priority-perfected lien on the equity of certain of ILFC’s subsidiaries, which directly or indirectly own a pool of aircraft and related leases. ILFC plans to use the proceeds for general corporate purposes, including purchasing aircraft and supporting the company’s liquidity cushion.
February 26, 2014 · 80 Views
In 2013, Airbus achieved a new industry record of 1,619 gross commercial orders (FY 2012: 914 gross orders) with net orders of 1,503 aircraft (FY 2012: 833 net orders), excluding ATR. Gross orders comprised 1,253 A320 Family aircraft, 77 A330s, 239 A350 XWBs and 50 A380s. Fourth-quarter orders included Emirates Airline’s agreement for 50 A380s and Etihad Airways’ order for 50 A350 XWBs, 36 A320neos and one A330-200F. Airbus Military (now part of Airbus Defence and Space) received 17 net orders (FY 2012: 32 net orders). Airbus’ net order intake increased sharply to €202.3bn (FY 2012: €88.9bn). At the end of 2013, Airbus’ consolidated order book was valued at €647.4bn (year-end 2012: €525.5bn). The Airbus Commercial backlog was worth €627.1bn (year-end 2012: €505.3bn), comprising 5,559 Airbus aircraft (year-end 2012: 4,682 units) and representing over eight years of production. Airbus Military’s order book was worth €20.8bn (year-end 2012: €21.1bn). Airbus series aircraft deliveries increased to 626 aircraft (FY 2012: 588 aircraft, including three A330s without revenue recognition). Airbus Military delivered 31 aircraft (FY 2012: 29 aircraft). Airbus’ consolidated revenues increased seven percent to €42,012m (FY 2012: €39,273m), reflecting higher commercial and military aircraft deliveries. The Division’s consolidated EBIT rose to €1,710m (FY 2012: €1,252m). Airbus Commercial’s revenues rose to €39,889m (FY 2012: €37,624m). The Airbus Commercial reported EBIT was €1,595m (FY 2012: €1,147m) with the EBIT before one-off at €2,216m (FY 2012: €1,669m). Airbus Commercial’s EBIT before one-off benefitted from the improved operational performance, including favourable volume, some better pricing and an improvement in A380 losses. It also included higher A350 XWB programme support costs. Revenues at Airbus Military rose to €2,893m (FY 2012: €2,131m), driven by the A400M ramp-up and higher volumes from both light and medium transport planes and tankers. The EBIT at Airbus Military was €166m (FY 2012: €93m).
January 29, 2014 · 76 Views
Boeing Commercial Airplanes fourth-quarter revenue increased to $14.7bn and full-year revenue increased to a record $53bn on higher delivery volume. Fourth-quarter operating margin improved to 10.3% and full-year operating margin grew to 10.9% on the higher volume, favorable delivery mix and continued strong operating performance. During the quarter, the company launched the 777X with 259 orders and commitments. During the year, the 787 program completed first flight of the 787-9, successfully launched the 787-10 and began operating at a 10 per month production rate in final assembly. The 737 program delivered at a record production rate of 38 per month and has won nearly 1,800 firm orders for the 737 MAX since launch. In 2013, a record 648 commercial aircraft were delivered. In January 2014, the company reached an eight-year contract extension through 2024 with the International Association of Machinists & Aerospace Workers District 751 (IAM). Commercial Airplanes booked 465 net orders during the quarter and 1,355 during the year. Backlog remains strong with 5,080 airplanes valued at a record $374 billion.
January 9, 2014 · 67 Views
The A350 XWB development aircraft, MSN3, is in Bolivia where it will perform a series of tests at the high altitude airfields of Cochabamba and La Paz. Cochabamba is around 8,300 feet above sea level, and La Paz is one of the world’s highest airports at 13,300 feet. Operations at such high altitude airfields are particularly demanding on aircraft engines, Auxiliary Power Unit (APU) and systems. The aim of these trials is to demonstrate and validate the full functionality of engines, systems, materials as well as to assess the overall aircraft behaviour under these extreme conditions. A number of take-offs with all engines operating and with simulated engine failures are being performed at each of the airfields to collect data on engine operating characteristics and validate the aircraft take-off performance. The autopilot behaviour will also be evaluated during automatic landings and go-arounds. Since the A350 XWB’s first flight with MSN1 on June 14th 2013, over 800 flight test hours have been performed in close to 200 test flights by both MSN1 and MSN3. In total the A350 XWB flight test campaign will accumulate around 2,500 flight hours with the fleet of five aircraft. The rigorous flight testing will lead to the certification of the A350-900 by the European EASA and US FAA airworthiness authorities, prior to entry into service in Q4 2014.
July 5, 2013 · 66 Views
Firefly, Malaysia Airlines’ subsidiary carrier has taken ownership of its first brand-new ATR 72-600. The aircraft is the first of 20 latest generation firm ATRs, plus 16 options, ordered by Malaysia Airlines in December 2012. Firefly currently operates 12 ATR 72-500s, and with the arrival of the new ATR 72-600s will almost triple its exclusively ATR 72 aircraft fleet, taking the total to over 30 aircraft.
June 26, 2013 · 42 Views
Certification testing is underway on the first Passport development engine at GE Aviation’s Peebles Testing Operation in Ohio. The engine began ground testing on June 24th and ran for more than three hours, reaching more than 18,000 lbs. of standard day sea-level takeoff thrust. Eight Passport engines and one core will be involved in the engine certification program. Flight testing on GE’s flying testbed is scheduled for 2014. Engine certification is expected in 2015. The Passport engine certification program follows three years of validation testing. GE Aviation has conducted validation tests on the fan blisk design, including two fan blade-out rig tests, ingestion tests and a fan aero rig test to demonstrate fan efficiency. Testing is complete on the third eCore demonstrator, and GE has accumulated more than 300 hours of testing on eCore demonstrators to date.
May 22, 2013 · 55 Views
Rolls-Royce has won an order from US leasing company CIT Aerospace for Trent XWB engines, to power ten Airbus A350 XWB aircraft and Trent 700 engines to power 13 Airbus A330 aircraft. The Trent XWB engines will power ten CIT A350 aircraft that were announced in January 2013 which were in addition to five A350 XWB aircraft already on order. The Trent XWB, specifically designed for the Airbus A350, is the fastest selling Trent engine ever, with more than 1,200 already sold. The engine variant that will power the A350-800 and -900 was awarded European Aviation Safety Agency (EASA) type certification in February. The engine will power the first flight of the Airbus A350 XWB this year and the aircraft’s first in-service flight in 2014.
May 6, 2014 · 31 Views
Xiamen Airlines has selected Boeing’s Airplane Health Management (AHM) system to enhance efficiency in its maintenance and engineering operations. The agreement includes implementation of AHM for the current Xiamen Airlines fleet of 94 Next-Generation 737s and six 787 Dreamliners on order. Xiamen Airlines will use AHM to collect and evaluate airplane operations data while the airplane is in flight. This real-time data is used to signal ground operations crews of any potential maintenance issues before the airplane lands, minimizing flight schedule disruptions and maintenance-related delays.
May 6, 2014 · 29 Views
WestJet released its first quarter results for 2014, with net earnings of $89.3m, compared with the net earnings of $91.1m in the first quarter of 2013. Based on the trailing twelve months, the airline achieved a return on invested capital of 13.7%, compared with the 13.9% reported in the previous quarter. These results include pre-tax recoveries of value added taxes of $17.6m associated with fuel costs and $2.5m associated with airport costs incurred from 2009 to 2013.
May 6, 2014 · 69 Views
Monarch Aircraft Engineering (MAEL) has been selected by Boeing to provide GoldCare airframe maintenance support to a Middle Eastern customer’s Boeing 787-800 Dreamliner operation at Abu Dhabi. This is the fourth Boeing 787 Dreamliner contract for MAEL, whose highly experienced engineering team will shortly introduce support services for the new customer, having successfully added the Boeing 787 Dreamliner aircraft to its existing UAE General Civil Aviation Authority maintenance approval.
May 6, 2014 · 41 Views
MTU Aero Engines, the German engine experts will be displaying an original Geared Turbofan (GTF) engine for the very first time, at the 2014 ILA Berlin Air Show. The PurePower PW1500G, the propulsion system for Bombardier’s CSeries aircraft, is made available to MTU on a loan basis by its U.S. partner Pratt & Whtney. The geared turbofan engine marks a huge leap forward in engine technology and proves to be a tremendous success in the market: thanks to the new engine architecture, the GTF achieves a 15% reduction in fuel burn – which is tantamount to a 15% reduction in CO2 emission – and cuts the perceived noise level in half. To date, five aircraft manufacturers have selected the innovative propulsion concept: Airbus has chosen the GTF, which is developed jointly by Pratt & Whitney and MTU, for the A320neo, Bombardier for the CSeries, Irkut for the MS-21, Mitsubishi for the MRJ, and Embraer for its new E-Jets. At the moment, the GTF order book stands at over 5,300 engines.
May 6, 2014 · 33 Views
Sunshine Avionics, a HEICO Aerospace Corporation subsidiary, announcede their recent ANAC repair station certification. ANAC (Agencia Nacional de Aviacao Civil), is the agency responsible for the regulation and the safety oversight of civil aviation in Brazil. This achievement will allow Sunshine Avionics to offer their advanced avionics repair services to the numerous airline and MRO customers in Brazil.
May 6, 2014 · 50 Views
DS Aviation, the aircraft leasing unit of German financial services company Dr. Peters Group, and UK-based aircraft lessor, marketing and management organisation Skytech-AIC have formed a new joint venture company, DS Skytech Limited, to provide technical management for the combined owned and managed aircraft portfolios of both organisations. The new company is designed to enhance the in-house asset management service provided to the clients of DS Aviation and Skytech-AIC and will facilitate the expected expansion of the combined portfolio which currently numbers 25 aircraft and includes types ranging from Bombardier Q400s through Airbus A319s, Boeing 787s and Boeing 777s to Airbus A380s. Both companies recognise that providing professional, comprehensive asset management is a key element in attracting additional and competitive investors into the industry and DS Skytech is designed to provide a new industry benchmark in management service quality. In addition, the combined strengthsand capabilities of the two companies will ensure that DS Skytech is well positioned to generate technical management business from third party clients. The Directors of the new company will be Anselm Gehling: CEO of Dr. Peters Group, Christian Mailly: Managing Director of DS Aviation together with Skytech-AIC’s Julian Balaam and Jeff Solomon.
May 6, 2014 · 26 Views
Ultra Electronics, an internationally successful defence, security, transport and energy company, has acquired ICE Corporation (“ICE”) based in Manhattan, Kansas for an initial cash consideration of $8.6m. Ultra has acquired ICE from private investors, which includes the original founder. All of the management team will stay with the business. ICE designs, develops, manufactures and supports aerospace products including, motor control electronics, electrothermal ice protection controllers, pneumatic valve controls and engine control interface units. ICE customers include Parker Hannifin Corporation, Cessna Aircraft Company and Meggitt. The acquisition of ICE will be financed using Ultra’s existing facilities and will be fully earnings accretive in 2015. Additional payments of up to $3m will be made subject to certification of the new WheelTug electric taxi system for which ICE provides essential parts. ICE, which has 50 employees, will continue to operate from its existing facilities as a bolt-in acquisition to Ultra’s Controls business within Ultra’s Aircraft & Vehicle Systems Division.
May 6, 2014 · 60 Views
AerCap Holdings reported that its adjusted net income was $79.9m for the first quarter of 2014. Adjusted earnings per share were $0.70 for the first quarter of 2014, an increase of 17% over the first quarter of 2013. The debt to equity ratio was 2.5 to 1 at March 31, 2014, compared with 2.6 to 1 for the same period in 2013. AerCap signed financing transactions for $2.82bn, primarily relating to an agreement to replace ILFC’s $2.3bn unsecured revolving credit facility with a new $2.75bn four-year unsecured revolving credit facility, to become effective upon the closing of the ILFC transaction. Fleet utilization rate was 98.9% for the first quarter of 2014. The average age of the owned fleet as of March 31, 2014 was 5.6 years and the average remaining contracted lease term was 6.6 years. During the first quarter 2014, the Company purchased three aircraft with a total value of $0.2bn and the future aircraft purchases were $3.3bn as of March 31st, 2014, relating to 41 aircraft, including five purchase rights. The 36 aircraft that are fully committed are all placed on long term leases with an average term of 11.9 years. As previously disclosed, 29 aircraft transactions were executed during the first quarter of 2014. Subsequent to the first quarter of 2014, on April 22nd, 2014, AerCap completed the sale of 100% of the class A common shares in Genesis Funding Limited, an aircraft securitisation vehicle with a portfolio of thirty-seven aircraft with an average age of thirteen years valued at approximately $750m.
May 6, 2014 · 39 Views
Chromalloy reported that the six laboratories at the company’s Engineering Center of Excellence have received ISO/IEC 17025 accreditation, validating international standards requirements for testing services. “With ISO/IEC 17025 accreditation Chromalloy builds on our world-class processes with the technical competence and ability to produce precise and accurate test data for customers around the globe,” said Carlo Luzzatto, President. “Chromalloy provides the entire value chain of services for gas turbine components, from engineering and testing through casting, machining and advanced coatings.” The following Chromalloy labs were accredited to ISO/IEC 17025 by the ANSI-ASQ National Accreditation Board/ACLASS: Metallurgy, Modal, Fatigue, Airflow, Metrology and Optical Metrology. ISO/IEC 17025 accreditation required evaluation by ACLASS technical assessors of the laboratories’ ability to produce accurate test data.
May 6, 2014 · 91 Views
Air France Industries KLM Engineering & Maintenance and Garuda Maintenance Facility AeroAsia (GMF), a leading supplier of MRO services in South East Asia, have signed component maintenance contracts enabling AFI KLM E&M to subcontract component repairs to GMF. These contracts were signed as a next step in the co-operation whereby GMF signed two long term support agreement with AFI KLM E&M last year. One covering component support for 10 777-300ERs and the other for component support of 78 737s operated by Indonesian flag-carrier Garuda Indonesia. The support services provided by AFI KLM E&M include component repair, access to a spares pool, and the creation and provision of a local main base kit at the client’s facility in Jakarta. The newly signed agreements will allow AFI KLM E&M to start using the growing GMF component repair capabilities not only for certain component repairs related to the support agreements for the Garuda fleet but also for other operators in the region.
May 6, 2014 · 39 Views
For the month of April, Air Canada reported a record system load factor of 83.3%, versus 82.1% in April 2013, an increase of 1.2 points on a system-wide capacity increase of 7.5%. On this additional capacity, system wide traffic for April increased 9.0%.
May 6, 2014 · 46 Views
Firmly committed to the development of services situated in proximity to its operators, Airbus Helicopters has certified the Abidjan maintenance center operated by International Aircraft Services (IAS), the largest civil helicopter operator in Western and Central Africa. Equipped with all the necessary operational resources, the center will service the AS365 and AS350 models from the famous Dauphin and Ecureuil families. With more than 670 helicopters in service in Africa, and nearly 130 of them in Western and Central Africa, Airbus Helicopters is pursuing its international development, becoming the first helicopter manufacturer in this vast region to make available to its customers an entire maintenance and support center certified “Operational & Intermediate” (O&I) level.
May 6, 2014 · 50 Views
In order to go beyond certification requirements and testing to the extremes the first ever Airbus A350 XWB to visit the United States, MSN (manufacturer’s serial number) 2 has arrived at McKinley Climatic Lab at Eglin Air Force base in northwest Florida. Over the next couple of weeks the aircraft and its various systems and cabin installations will be subjected to the extreme hot and cold temperatures that the unique facility can sustain in a testing environment. These tests come on top of those already performed earlier this year in the Middle East and Northern Canada to ensure maturity and full in-service readiness from Day 1 for all A350 XWB’s operators. There are currently four test aircraft flying in the A350 XWB programme. Together they have accumulated around 1,600 flight test hours in more than 350 flights. The certification process for the programme is progressing on schedule – certification is anticipated in the third quarter of 2014 with entry into service in the fourth quarter of this year.
May 7, 2014 · 45 Views
Boeing Shanghai Aviation Services (Boeing Shanghai) announced that Jeju Air and Boeing Shanghai have signed a maintenance agreement covering one lease return check and four C-checks for Jeju Air’s Boeing 737-800s. Jeju Air and Boeing Shanghai’s cooperation can be traced back to January 2010. By the end of 2014, Boeing Shanghai will have completed 12 C-checks and one lease return check for the airline’s 737-800 fleet.
May 7, 2014 · 77 Views
In the first quarter Finnair’s turnover declined by 8.4% to €543.3m (€593.2m in 2013). The operational result was €-34.2m (€-17.5m in 2013). Net cash flow from operating activities stood at €-20.5m (€-11.5m in 2013), and cash flow from investments totalled €233.6m (€-9.2m in 2013). Unit cost per available seat kilometre excluding fuel, CASK (CASK excl. fuel) decreased by 0.2% from previous year’s level. Unit revenue per available seat kilometre (RASK) fell by 4.0%.
May 7, 2014 · 67 Views
JorAMCo won a new long term maintenance service contract with the Kazakhstan based airline Air Astana, after the first successful collaboration took place last year for three of Air Astana’s Embraer 190s. The three year agreement between the two companies will take place from 2014 to 2016 and covers 15 checks for Embraers 190s, during which JorAMCo will be performing heavy maintenance tasks in addition to some Ads & SBs.
May 7, 2014 · 20 Views
AerData, the provider of software and services for the aviation industry released that Amur Finance Company (AFC), a privately held, diversified commercial finance company focusing on the global transportation, industrial and equipment leasing sectors, has chosen AerData’s CMS (Corporate Management System) and STREAM (Secure Technical Records for Electronic Asset Management) software.
May 7, 2014 · 62 Views
Air Transport Services Group reported consolidated financial results for the quarter ended March 31st, 2014. For the first quarter of 2014 revenues were $143.6m, flat with a year ago. Increases in revenues from aircraft leasing and other business activities offset lower revenues from airline operations. Earnings from continuing operations of $6.5m, were lower than earnings of $8.5m a year ago. A $4.1m increase in depreciation and amortization expense stemming from the addition of more modern aircraft to ATSG’s fleet, offset decreases in other operating expenses. Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization, also adjusted for the effect of derivative transactions) was $38.8m, up 4% from $37.3m in the prior-year quarter.
May 7, 2014 · 75 Views
AJW Aviation has signed a three year agreement with Atitech, one of Europe’s largest MROs based in Naples, Italy, for the provision of integrated consumables management services. This will utilise the new innovative barcode scanning App that AJW has developed and deliver support for Atitech’s growing customer base across the Airbus and Boeing aircraft families.
May 7, 2014 · 40 Views
ATSG announced new dry-lease agreements for two Boeing 767-200 freighters to Cargojet, a Canadian airline, for terms of up to three years beginning in the second and third quarters of 2014. These aircraft are in addition to the two 767-200 freighters Cargojet currently leases from CAM. ATSG also dry-leases two Boeing 767-300 freighters to Amerijet, a Florida based airline, under six-year terms beginning in the third quarter 2014. Amerijet currently leases three 767-200 freighters from CAM.
May 7, 2014 · 99 Views
Defence and security company Saab has signed an agreement with Germany’s Liebherr-Aerospace Lindenberg GmbH to provide maintenance, repair and overhaul (MRO) services for landing gear equipment across the complete Embraer E-Jet family of regional aircraft. Saab’s business area Support and Services has a well-known and long-established expertise within the field of aircraft component maintenance. Saab is now adding a new strand to its capabilities by providing landing gear service and support for Embraer’s E-jet regional jet family (the E170 and E190 series). Based in Lindenberg, Germany, Liebherr-Aerospace Lindenberg GmbH is the original equipment manufacturer (OEM) for the Embraer E-Jet’s landing gear. Saab sees its agreement with Liebherr-Aerospace as an important, strategic move for future business. The agreement with Liebherr-Aerospace allows Saab to acquire and maintain updated technical documentation for E-Jet family landing gear equipment in order to perform maintenance services for the equipment.
May 7, 2014 · 46 Views
Aircastle reported first quarter 2014 net income of $5.8m down $17.3m and adjusted net income of $13.3 million. The first quarter results included operating and finance lease revenues of $178.3m versus $160.5m in the first quarter of 2013, up 11%. Thus far in 2014, Aircastle acquired or has committed to acquire thirteen aircraft for more than $1.1bn. During the first quarter, the Company closed on the purchase of four 777-300ER aircraft built in 2012 leased to LATAM Airlines and also completed the purchase of two A330-300 aircraft leased to Singapore Airlines and two 737-800 aircraft leased to Alaska Airlines. During the first quarter of 2014, Aircastle sold six 737 “classic” aircraft, four of which were in a freighter configuration. Aircraft sales and dispositions during the quarter totaled $28.0m, which resulted in a net gain on the sale of aircraft of $1.1m.
May 7, 2014 · 61 Views
Air Lease Corporation announced long term lease agreements with Novair for three new Airbus A321neo aircraft, which are scheduled to begin delivery in 2017. Novair is based in Stockholm, Sweden and owned by Switzerland’s Kuoni Travel Group. These aircraft are from ALC’s order book from Airbus.
May 7, 2014 · 98 Views
Triumph Group reported that its subsidiary, Triumph Aerostructures-Vought Aircraft Division, has been selected by Airbus to furnish the wing reinforcement kit that allows for the installation of Sharklets on the Airbus A319 and A320 in-service aircraft. The kit consists of multiple subassemblies and components that reinforce the wing for the Sharklet loads. The multi-year contract is worth over $160.0m. Production will be done at the company’s Nashville, Tennessee facility, with first delivery expected early 2015. Triumph Aerostructures-Vought Aircraft Division designs, tests and manufactures aerostructures for commercial, military and business jet aircraft. Products include fuselage sections, wings, empennages, nacelle structures and helicopter cabins.