Friday, May 09, 2014
AviTrader Daily Aviation News Alert
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February 20, 2015 · 542 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 · 640 Views
Snecma (Safran), a leading manufacturer of aircraft engines, and Hindustan Aeronautics (HAL), a leading aerospace manufacturer, signed a Memorandum of Understanding (MoU) on January 28th, 2015 in Bangalore to explore establishing a joint venture in India for the production of aero-engine parts. The proposed joint venture will initially focus on the manufacture of high-tech parts for the Dassault Rafale’s Snecma M88 engine, then subsequently contribute to other major aerospace projects of HAL & Snecma, in India and worldwide. Spanning over 30,000 m², the proposed joint venture’s new plant is expected to benefit from substantial investment by the two partners, providing it with state-of-the-art machinery and equipment. This agreement marks a major step forward in the long-standing collaboration between Snecma and HAL. The proposed joint venture will further broaden the scope of the excellent relations established over the past 60 years between Safran affiliates and the Indian aerospace industry. For example, Snecma manufactures the M53 engines powering the Mirage 2000H “Vajra” fighters operated by the Indian Air Force.
December 2, 2014 · 195 Views
On the 7th January 2013 a fire was reported on board a Boeing 787 Dreamliner while parked at Boston’s airport in the USA. The fire was put down to a problem with one of the plane’s lithium-ion batteries. A week later an All Nippon Airways 787 Dreamliner had to make an emergency landing after smoke was discovered inside the plane which was subsequently traced back to another lithium-ion battery. As a consequence of this incident, all 787 Dreamliners were grounded until April of that year until further acceptable testing and improvements were carried out to the battery system on board the plane. The battery itself was manufactured by GS Yuasa and comprised eight individual cells making up a combined weight of 63lbs.
Nearly two years later and the results of the investigation into the first incident have concluded that the lithium-ion battery installed in the plane should not have received certification by the FAA. The National Transport Safety Board (NTSB) were also critical of Boeing who they believed had erroneously ruled out the chances of thermal runaway in its assessment of the battery’s safety. Boeing’s battery tests to obtain original certification included crushing battery cells, driving nails through them and deliberately introducing short circuits to cause failure. Boeing found “nothing adverse happened” while these tests were carried out, and so deemed the battery’s box and internal protection to be of an acceptable standard. Boeing stated that it had followed the certification process set out by the FAA. It would seem that while the cause of the fire has been clearly identified, responsibility for its occurrence has not been accepted in full by anyone.
November 5, 2014 · 162 Views
Back in February this year, Rolls-Royce, the FTSE-100 engine maker, lost over £3bn of its value after shocking the market with its first profits warning in a decade. To announce a second one this October has created considerable concern and Rolls-Royce has decided that over the next 18 months they need to reduce costs by up to £80m a year by axing 2,600 jobs, the majority of which will be in the aerospace sector in Britain and the United States. The focus is on Rolls-Royce’s key Trent engines as they move from the development to the production phase, which consequently requires fewer engineers.
Back in February John Rishton, Rolls-Royce group’s Chief Executive, had admitted that the future was “bumpier than I had expected”, while blaming the current problems on deteriorating economic conditions and a tit-for-tat trade war between the EU and Russia over the Ukrainian crisis which had affected its nuclear and energy business as well as its power-systems unit. This week Rishton has had to admit that “We are taking determined management action and accelerating our progress on cost. The measures announced today will not be the last; however they will contribute towards Rolls-Royce becoming a stronger and more profitable company.”
Another consequence of the situation is the unexpected departure of Finance Director, Mark Morris, leaving the company after 27 year without any explanation. He will be replaced by David Smith, who is being promoted from Finance Director of the Rolls-Royce Aerospace division. This second profit warning saw share value fall 11% to 832p, wiping a further £2bn off the company’s value. However, news of the redundancies was well received by investors and the share price rallied by 2%, currently standing at 832p. This is clear confirmation of comments made by Espirito Santo’s analyst, Ed Stacey, who indicated that investors would be expecting a clear message from the new Finance Director and tight control on all finances.
March 25, 2014 · 111 Views
Air France-KLM selected the GEnx-1B engine to power its 25 Boeing 787 Dreamliners and 12 leased 787 aircraft. The total engine order is valued at more than $1.7bn. Air France-KLM and GE Aviation have also signed an agreement that will allow Air France-KLM to offer maintenance, repair and overhaul (MRO) services for the GEnx-1B engine. Under this agreement, Air France-KLM will be licensed to perform maintenance and overhaul work on the GEnx-1B engine and GE will provide technical support and assistance on overhaul workscoping and component repair licenses, comprehensive material support and training.
March 7, 2014 · 78 Views
International Lease Finance Corporation (ILFC) has closed a new senior secured term loan of $1.5 billion. The loan will bear interest at LIBOR plus 275 basis points with a 0.75% LIBOR floor, is priced at 99.5% of par value, and will mature in 2021. The collateral used to support the transaction has an initial weighted average age of 9.1 years. It will be secured primarily by a first priority-perfected lien on the equity of certain of ILFC’s subsidiaries, which directly or indirectly own a pool of aircraft and related leases. ILFC plans to use the proceeds for general corporate purposes, including purchasing aircraft and supporting the company’s liquidity cushion.
February 26, 2014 · 78 Views
In 2013, Airbus achieved a new industry record of 1,619 gross commercial orders (FY 2012: 914 gross orders) with net orders of 1,503 aircraft (FY 2012: 833 net orders), excluding ATR. Gross orders comprised 1,253 A320 Family aircraft, 77 A330s, 239 A350 XWBs and 50 A380s. Fourth-quarter orders included Emirates Airline’s agreement for 50 A380s and Etihad Airways’ order for 50 A350 XWBs, 36 A320neos and one A330-200F. Airbus Military (now part of Airbus Defence and Space) received 17 net orders (FY 2012: 32 net orders). Airbus’ net order intake increased sharply to €202.3bn (FY 2012: €88.9bn). At the end of 2013, Airbus’ consolidated order book was valued at €647.4bn (year-end 2012: €525.5bn). The Airbus Commercial backlog was worth €627.1bn (year-end 2012: €505.3bn), comprising 5,559 Airbus aircraft (year-end 2012: 4,682 units) and representing over eight years of production. Airbus Military’s order book was worth €20.8bn (year-end 2012: €21.1bn). Airbus series aircraft deliveries increased to 626 aircraft (FY 2012: 588 aircraft, including three A330s without revenue recognition). Airbus Military delivered 31 aircraft (FY 2012: 29 aircraft). Airbus’ consolidated revenues increased seven percent to €42,012m (FY 2012: €39,273m), reflecting higher commercial and military aircraft deliveries. The Division’s consolidated EBIT rose to €1,710m (FY 2012: €1,252m). Airbus Commercial’s revenues rose to €39,889m (FY 2012: €37,624m). The Airbus Commercial reported EBIT was €1,595m (FY 2012: €1,147m) with the EBIT before one-off at €2,216m (FY 2012: €1,669m). Airbus Commercial’s EBIT before one-off benefitted from the improved operational performance, including favourable volume, some better pricing and an improvement in A380 losses. It also included higher A350 XWB programme support costs. Revenues at Airbus Military rose to €2,893m (FY 2012: €2,131m), driven by the A400M ramp-up and higher volumes from both light and medium transport planes and tankers. The EBIT at Airbus Military was €166m (FY 2012: €93m).
January 29, 2014 · 74 Views
Boeing Commercial Airplanes fourth-quarter revenue increased to $14.7bn and full-year revenue increased to a record $53bn on higher delivery volume. Fourth-quarter operating margin improved to 10.3% and full-year operating margin grew to 10.9% on the higher volume, favorable delivery mix and continued strong operating performance. During the quarter, the company launched the 777X with 259 orders and commitments. During the year, the 787 program completed first flight of the 787-9, successfully launched the 787-10 and began operating at a 10 per month production rate in final assembly. The 737 program delivered at a record production rate of 38 per month and has won nearly 1,800 firm orders for the 737 MAX since launch. In 2013, a record 648 commercial aircraft were delivered. In January 2014, the company reached an eight-year contract extension through 2024 with the International Association of Machinists & Aerospace Workers District 751 (IAM). Commercial Airplanes booked 465 net orders during the quarter and 1,355 during the year. Backlog remains strong with 5,080 airplanes valued at a record $374 billion.
January 9, 2014 · 65 Views
The A350 XWB development aircraft, MSN3, is in Bolivia where it will perform a series of tests at the high altitude airfields of Cochabamba and La Paz. Cochabamba is around 8,300 feet above sea level, and La Paz is one of the world’s highest airports at 13,300 feet. Operations at such high altitude airfields are particularly demanding on aircraft engines, Auxiliary Power Unit (APU) and systems. The aim of these trials is to demonstrate and validate the full functionality of engines, systems, materials as well as to assess the overall aircraft behaviour under these extreme conditions. A number of take-offs with all engines operating and with simulated engine failures are being performed at each of the airfields to collect data on engine operating characteristics and validate the aircraft take-off performance. The autopilot behaviour will also be evaluated during automatic landings and go-arounds. Since the A350 XWB’s first flight with MSN1 on June 14th 2013, over 800 flight test hours have been performed in close to 200 test flights by both MSN1 and MSN3. In total the A350 XWB flight test campaign will accumulate around 2,500 flight hours with the fleet of five aircraft. The rigorous flight testing will lead to the certification of the A350-900 by the European EASA and US FAA airworthiness authorities, prior to entry into service in Q4 2014.
July 5, 2013 · 64 Views
Firefly, Malaysia Airlines’ subsidiary carrier has taken ownership of its first brand-new ATR 72-600. The aircraft is the first of 20 latest generation firm ATRs, plus 16 options, ordered by Malaysia Airlines in December 2012. Firefly currently operates 12 ATR 72-500s, and with the arrival of the new ATR 72-600s will almost triple its exclusively ATR 72 aircraft fleet, taking the total to over 30 aircraft.
June 26, 2013 · 40 Views
Certification testing is underway on the first Passport development engine at GE Aviation’s Peebles Testing Operation in Ohio. The engine began ground testing on June 24th and ran for more than three hours, reaching more than 18,000 lbs. of standard day sea-level takeoff thrust. Eight Passport engines and one core will be involved in the engine certification program. Flight testing on GE’s flying testbed is scheduled for 2014. Engine certification is expected in 2015. The Passport engine certification program follows three years of validation testing. GE Aviation has conducted validation tests on the fan blisk design, including two fan blade-out rig tests, ingestion tests and a fan aero rig test to demonstrate fan efficiency. Testing is complete on the third eCore demonstrator, and GE has accumulated more than 300 hours of testing on eCore demonstrators to date.
May 22, 2013 · 53 Views
Rolls-Royce has won an order from US leasing company CIT Aerospace for Trent XWB engines, to power ten Airbus A350 XWB aircraft and Trent 700 engines to power 13 Airbus A330 aircraft. The Trent XWB engines will power ten CIT A350 aircraft that were announced in January 2013 which were in addition to five A350 XWB aircraft already on order. The Trent XWB, specifically designed for the Airbus A350, is the fastest selling Trent engine ever, with more than 1,200 already sold. The engine variant that will power the A350-800 and -900 was awarded European Aviation Safety Agency (EASA) type certification in February. The engine will power the first flight of the Airbus A350 XWB this year and the aircraft’s first in-service flight in 2014.
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.
May 8, 2014 · 19 Views
Airbus Helicopters’ EC225 presence in the African oil and gas heli-lift market will expand following delivery of an additional workhorse rotorcraft to SonAir, which is to deploy this long-range helicopter on operations in Angola. A handover ceremony in Marignane, France marked the EC225’s delivery, with this latest aircraft joining SonAir’s Airbus Helicopters-built fleet of heavy helicopters that already includes 11 EC225s, four AS332 L2s and three AS365 N3s.
May 8, 2014 · 63 Views
Aviation Technical Services (ATS) and UTair Aviation have entered into a service agreement for ATS to supply maintenance and engineering services to the Russian passenger carrier on eight B767‐200 aircraft. The program will consist of modifying the existing 170 passenger configuration aircraft to a 255 passenger configuration, along with integrating and maintaining the aircraft to UTair’s maintenance program. The services will be completed at the new ATS facility in Kansas City, Missouri.
May 8, 2014 · 44 Views
Ontic, a BBA Aviation company, has appointed Air Parts & Supply Company or “APSCO”, located in Miami, FL as its exclusive world-wide distributor for its Woodward Governors/Synchronizers/Synchrophasers product line. Ontic supports many major OEM’s, including Woodward, for the last 50 years by providing a guaranteed source of factory-new, OEM-pedigreed spare parts and authorized repair services for a wide range of legacy aircraft. Ontic has established a long-standing relationship with the OEM’s by adopting legacy product lines and carrying them forward for the complete and entire life of the fleet.
May 8, 2014 · 64 Views
Lufthansa Technik AG enlarges its product portfolio and announced the opening of the third US location after Everett and Renton for Aircraft Production Inspection of Boeing aircraft at North Charleston/South Carolina. The first Boeing 787s have already been successfully supported and the Lufthansa Technik inspectors are permanently on-site. Marketed under the name of Aircraft Production Inspection Program (APIP), Lufthansa Technik is offering this independent production inspection to both airlines and leasing companies. Lufthansa Technik experience and know-how from looking after customer fleets worldwide on a day-to-day basis mean it receives continuous feedback in the areas of technical quality and operational flexibility. This operational expertise is reflected in all product areas of the Aircraft Production Inspection Program. APIP inspectors are stationed permanently at all major Boeing final assembly sites and also at other manufacturers.
May 8, 2014 · 29 Views
Central Europe aviation training centre, Baltic Aviation Academy, has signed a successful contract with Pakistan International Airlines (PIA). The one year contract includes Airbus A320 type rating training, as well as Boeing 737 CL and ATR 72 full flight simulator dry leases which will be executed at Baltic Aviation Academy training centre in Vilnius, Lithuania. After a year of intensive negotiations, both parties have agreed on the contract terms and conditions and at the end of March, the first group from Pakistan International Airlines has already started the type rating training course. Pakistan International Airlines is the national flag carrier and the largest Pakistan airline which operates 24 domestic and 38 international destinations which span across the world’s major airport hubs in four continents. Company’s fleet consists of 38 aircraft that include Airbus A310, A320, Boeing 737, 747, 777, and ATR 42. PIA will be adding additional 11 Airbus A320 aircraft in October of 2014.
May 8, 2014 · 97 Views
Etihad Airways, the national airline of the United Arab Emirates, and Mubadala Development Company (Mubadala), entered into an agreement in which Etihad Airways will acquire Abu Dhabi Aircraft Technologies LLC (ADAT) from Mubadala. The deal will see Mubadala retain ADAT’s engine focussed maintenance, repair and overhaul (MRO) business, which will be the catalyst for the continuity and growth of its dynamic engine business through the establishment of a new engine company. The transaction includes maintenance and engineering teams, hangars, component workshops, and paint facilities in Abu Dhabi which will enhance Etihad Airways capability to undertake airframe and component maintenance on its growing fleet of modern aircraft, including the new Airbus A380 and Boeing B787, which will join the fleet in the last quarter of 2014. Engine MRO is set to form a significant component of Mubadala’s aerospace strategy, and this new engine company will form the foundation for this growth under the leadership of Abdul Khaliq Saeed, ADAT’s current CEO. At the 2013 Dubai Airshow, Mubadala signed deals with Rolls Royce and GE Aviation to establish next-generation Trent XWB and GEnx MRO centers of excellence in Al Ain. This was further supported with a combined commitment of US$1.0bn in engine parts production from both manufacturers.
May 8, 2014 · 63 Views
Spirit AeroSystems has added aircraft industry veteran William (Bill) Brown to its senior leadership team as senior vice president, Aftermarket. Brown most recently served as executive vice president, Global Operations and president of Global Customer Service and Support at Beechcraft. Prior to joining Beechcraft, Brown also served as president and general manager of AAR Aircraft Services in Oklahoma, and held senior-level positions with Independence Air, Avborne, and Midwest Airlines.
May 8, 2014 · 17 Views
Copa Holdings reported net income of US$151.4m for 1Q14. Excluding special items, Copa Holdings would have reported an adjusted net income of $153.6m, a 23.5% increase over adjusted net income of US$124.4m for 1Q13. Operating income for 1Q14 came in at US$177.0m, a 24.1% increase over operating income of US$142.6m in 1Q13. Operating margin for the period came in at 24.8%, compared to 22.2% in 1Q13, as a result of higher unit revenues and lower unit costs. Total revenues increased 11.3% to US$713.6m. Yield per passenger mile increased 0.5% to 17.7 cents and operating revenue per available seat mile (RASM) increased 1.9% to 14.2 cents.
May 8, 2014 · 39 Views
UAL’s April 2014 consolidated traffic increased 0.6% and consolidated capacity decreased 1.3% versus April 2013. UAL’s April 2014 consolidated load factor increased 1.6 points to 83.3% compared to April 2013.
May 8, 2014 · 49 Views
SAS´ traffic for the month of April increased by 13.7%, while capacity was up by 1.2%, when compared to the same period in 2013. The load factor decreased by 8.6 points to 78.6%.
May 8, 2014 · 82 Views
FLY is reporting net income for the first quarter of 2014 of $3.6m, this compares to net income of $32.8m for the same period in 2013. First quarter 2013 results benefitted from $30.6m of end of lease income and $6.5m in gains from aircraft sales. First quarter 2014 results were impacted by increases in interest expense as a result of FLY’s unsecured debt issuance last December, with much of the proceeds still unused. Operating lease rental revenue increased 13% to $90.5m. End of lease revenues were $3.7m in the first quarter of 2014 compared to $30.6m of end of lease revenue recognized in the same period in the previous year. Adjusted net income was $5.1m for the first quarter of 2014 compared to $38.5m in the same period in the previous year, which included end of lease income and gains from sales of aircraft. On a per share basis, adjusted net income was $0.12 in the first quarter of 2014 compared to $1.37 for the same period in the previous year.
May 8, 2014 · 60 Views
American Airlines Group’s total traffic for the month was up 4.7% versus April 2013, while total capacity was up 3.7% versus April 2013. Total passenger load factor was 82.9% for the month of April, up 0.7 points versus April 2013.
May 8, 2014 · 120 Views
BAE Systems completed the manufacture of the 150th F-35 rear fuselage and tail set at its military aircraft factory in Samlesbury, Lancashire. The 150th aircraft set, known as AF070, is a Conventional Take Off and Landing variant destined for the US Air Force. AF070 will be married up with the rest of the aircraft at Lockheed Martin’s assembly facility in Fort Worth, Texas. Jon Evans, Head of Production Delivery, F-35 at Samlesbury said: “AF070 is the 150th aircraft set to leave our production facility. The first 20 sets were development phase, the rest production aircraft. We are now producing aircraft sets at a rate of one every five days thanks to the multi-million pound investment we made in the Samlesbury site, so we’re well on the way to producing one set a day by 2018.