Friday, July 25, 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.
July 23, 2014 · 82 Views
Skymark Airlines, Japan’s third largest airline, has chosen Panasonic Avionics Corporation’s global connectivity service, eXConnect, to provide its passengers with free-of-charge in-flight Wi-Fi service. Passengers will be able to stay on top of current events as they surf the web, keep in touch with friends and family through their social networks, and even check email and send the latest edits to their upcoming sales presentation to their colleagues – all at 35,000 feet. For domestic routes, Skymark Airlines will introduce this free service on its fleet of new Airbus A330s. They will also expect to offer this same free-of-charge Wi-Fi experience on their international A380 fleet that will be initially flying to North America.
July 23, 2014 · 152 Views
AviaAM Leasing, a WSE listed global aviation holding company engaged in commercial aircraft acquisition, leasing and sales, announced the delivery of another Boeing 737-800 to Russian carrier Orenburg Airlines (operates under the Orenair brand). Under the three-party cooperation between AviaAM Leasing, Orenair and the aircraft’s owner, this is already the fifth Boeing 737-800 delivered to the carrier‘s fleet. Prior to the aircraft’s delivery, AviaAM Leasing has conducted a wide range of maintenance works, including C-Check, cabin repainting and renewal. The 189-seat aircraft was delivered to the Orenair base earlier this week.
July 23, 2014 · 204 Views
Hawaiian Airlines selected six Airbus A330-800neo aircraft, powered by the newly-launched Trent 7000 engine. Hawaiian Airlines has previously ordered Trent 700 engines for A330 aircraft and BR715 engines for Boeing 717 aircraft. The new aircraft will replace six A350-800 aircraft that the airline has on order.
July 23, 2014 · 241 Views
Rolls-Royce has signed a service support agreement with Thomson Airways for RB211-535 engines that power the airline’s Boeing 757 aircraft. The service support agreement has been designed specifically for Thomson and will support the airline’s Boeing 757 aircraft for the duration of their time in the fleet. Thomson Airways, part of the TUI Group, is the airline for Thomson and First Choice, and is the UK’s third largest airline. It has a fleet of 59 aircraft operating from 20 UK airports.
July 23, 2014 · 211 Views
ADSoftware reported the successful launch of its Airpack Fleet Management System and logistics solution to Nova Airways, Sudan’s largest carrier. In an industry that demands constant compliance with regulations, Sudanese carrier Nova Airways was looking for a system that could help them to stay ahead of changing requirements by anticipating any modifications required by regulatory texts. The AirPack solution proved to have the answer, with two specific modules inside the maintenance software which are dedicated to airworthiness management, regulatory compliance and fleet reliability. AirTime would enable the engineering department to coordinate the compliance of the aircraft with the required maintenance programs, applicable airworthiness directives, service bulletins, log books, planning, mechanics and shop activity. Nova Airways is currently the largest Sudanese airline operating a fleet of 3 CRJ200, 1 CRJ200LR and 1 B737-500.
July 23, 2014 · 247 Views
Jet Airways, India’s premier international airline, and Etihad Airways, the national airline of the United Arab Emirates, have outlined plans to reinforce their long-term commitment to the growth of India’s economy and aviation industry, including a major new turnaround strategy for Jet Airways to return to profitability in three years. The two airlines have been codeshare partners since 2008 and their relationship was strengthened in November 2013, after Etihad Airways received approvals to acquire a 24% stake in Jet Airways, marking it the first investment by a foreign carrier in India’s airline industry. Supporting the partnership, the Jet Airways Board recently approved a three-year business plan to reshape the airline and secure its long-term future. The plan incorporates a series of critical measures that lay the foundations for a return to profitability, such as long-term network, fleet and product developments to optimise the airline’s domestic and international operations. Focus areas for international operations will include network developments, including new services to markets such as Europe, China, Australia and Southeast Asia, expanded frequencies to existing routes and additional codeshares. Jet Airways’ two and three class aircraft product will also be enhanced and the seat count optimised on wide-body Boeing 777 and Airbus A330 aircraft. In addition, the domestic business model will improve connectivity across India and worldwide, while removing complexity in product and fleet, including the standardisation and reconfiguration of the Boeing 737 fleet. To initiate the three-year turnaround plan, the Jet Airways Board and management team have already worked with auditors to clean up its balance sheet and write down overvalued non-cash assets. Jet Airways has announced a new team at the helm with Cramer Ball as its new Chief Executive Officer and Subodh Karnik as the Chief Operating Officer pending regulatory approval.
July 23, 2014 · 214 Views
Vector Aerospace, a global independent provider of aviation maintenance, repair and overhaul (MRO) services, announced that Vector Aerospace Africa (Pty) engine repair and overhaul facility, located in Lanseria, South Africa, has been appointed a Designated Overhaul Facility (DOF) for the Pratt & Whitney Canada (P&WC) PT6A-140 aircraft engine.
July 23, 2014 · 392 Views
Aircastle reported the resignation of David Walton. Mr. Walton served as Chief Operating Officer, General Counsel and Secretary of Aircastle Limited. He will remain in his current roles until a smooth transition is complete.
July 23, 2014 · 287 Views
B/E Aerospace reported its second quarter 2014 financial results. Second quarter 2014 revenues of $1.09bn increased 28.1% as compared with the prior year period. Second quarter 2014 operating earnings were $198.1m, an increase of 24.8%, and operating margin was 18.2%. On a GAAP basis, operating earnings were $185.3m. Second quarter 2014 earnings before income taxes were $166.4m, an increase of 29.8%. On a GAAP basis, earnings before income taxes were $153.6m. Second quarter 2014 net earnings were $117.6m, representing an increase of 27.3%, as compared with the prior year period. On a GAAP basis net earnings were $108.6m.
July 23, 2014 · 5509 Views
Delta Air Lines reported that pre-tax income for the June 2014 quarter was $1.4bn, excluding special items, an increase of $593 million over the June 2013 quarter on a similar basis. Delta’s net income for the June 2014 quarter was $889m and its operating margin was 15.1%, excluding special items. On a GAAP basis which includes special items, Delta’s pre-tax income was $1.3bn, operating margin was 14.9% and net income was $801m. Results include $340m in profit sharing expense in recognition of Delta employees’ contributions toward achieving the company’s financial goals. Delta generated over $2bn of operating cash flow and $1.5bn of free cash flow during the June 2014 quarter. As of mid-July, the company has used its strong cash generation in 2014 to reduce its adjusted net debt below $8bn, contribute more than $900m of funding to its defined benefit pension plans, and return $550m to shareholders through dividends and share repurchases.
July 23, 2014 · 1931 Views
The board of directors of Horizon Air has named David L. Campbell president and chief operating officer, Alaska Air Group announced on July 23rd. Campbell brings with him more than 25 years of experience in maintenance and flight operations, most recently at jetBlue Airways where he served as vice president of maintenance and engineering. Prior to that, he served as vice president of safety and operational performance at American Airlines. Current Horizon Air president Glenn Johnson will retire Sept. 1st.
July 23, 2014 · 275 Views
Boeing reported second-quarter core earnings per share (non-GAAP) of $2.42, reflecting strong performance and favorable tax items. Commercial Airplanes second-quarter revenue increased 5% to $14.3bn on higher deliveries. Second-quarter operating margin was 10.8%, reflecting the delivery volume and strong performance offset by the $238m pre-tax charge on the KC-46A Tanker program. During the quarter, Commercial Airplanes delivered the first 787-9 Dreamliner and the 787 program received 330-minute ETOPS certification. In July, Emirates Airline and Qatar Airways finalized orders totaling 200 777X airplanes and Monarch Airlines announced a commitment to purchase 30 737 MAX airplanes. Commercial Airplanes booked 264 net orders during the quarter. Backlog remains strong with over 5,200 airplanes valued at a record $377bn.
July 24, 2014 · 250 Views
Southwest Airlines expanded its OnPoint solution agreement with GE Aviation to cover a total of 196 CFM56-7B engines which power its Boeing 737-800 aircraft, and up to 100 CFM56-7B engines, that power recently acquired Boeing 737-700 aircraft.
July 24, 2014 · 223 Views
MD Helicopters, a Lynn Tilton company and leading manufacturer of commercial, air-rescue, military and law enforcement helicopters, held a ceremonial delivery of a new MD 500E helicopter for the Polk County Florida Sheriff’s Office (PCSO). The acceptance took place at the MD Helicopters booth, where the aircraft was displayed at the Airborne Law Enforcement Association exposition, in Phoenix, Ariz.
July 24, 2014 · 246 Views
Western Aircraft, a Greenwich AeroGroup company, added two new buildings totaling 26,000 ft² to its 18-acre leasehold. The new construction includes an expanded parts facility as well as a two-story infill building that houses support shops for Western Aircraft’s services operation. Western Aircraft President Jeff Mihalic said that Western’s business expansion was driven in large part by the sales tax exemption on installed parts passed by the Idaho legislature in 2012 and the growth of Western’s capabilities and sales force. The overall expansion includes more than $2.3m in new facilities and more than $2.4m in facility improvements and specialized tooling. Additionally, due to the added business, Western Aircraft has increased staffing from 150 to 200 employees.
July 24, 2014 · 215 Views
In the first six months of 2014, MTU Aero Engines AG achieved a revenue growth of 2% to €1,815.8m (1-6/2013: €1,774.9m). Operating profit remained stable at €170.7m (1-6/2013: €169.7m), with an EBIT margin of 9.4% compared with 9.6% in the first half of 2013. Net income increased by 4% to €111.0m (1-6/2013: €106.7m). The increase in group revenues in the first half of 2014 is attributable to growth in the commercial engine business, where revenues have risen by 8% from €953.6mn to €1,032.9m. The main source of these revenues in the OEM business, which comprises series and spare parts sales, were the V2500 engine for the A320, the GP7000 used to power the A380, and the GEnx for the Boeing 787 and 747-8, a program in which production rates have been ramped up significantly. Revenues in the commercial maintenance business have fallen by 7% to €572.9m (1-6/2013: €613.4m). The V2500 engine accounted for the largest part of these revenues. Revenues in the military engine business have barely changed, at €225.5m (1-6/2013: €223.2m). The EJ200 Eurofighter engine was the main source of these revenues. MTU’s order backlog increased by 8% to €10,153.9m between January and June 2014, compared with the level reported at the end of 2013 (Dec 31, 2013: €9,374.6m).
July 24, 2014 · 257 Views
GE Capital Aviation Services (GECAS) has signed an agreement to lease four Boeing 777-300ER aircraft to EVA Airways, following a lease of two B777-300ER aircraft in February 2014. Delivery of the six aircraft is scheduled for 2016 and 2017. The B777-300ERs will modernize EVA’s long-range fleet with high fuel-efficiency, more payload capabilities and additional flexibility in serving the nonstop routes stemmed from Taipei, Republic of China.
July 24, 2014 · 264 Views
JetBlue reported record second quarter operating revenues of $1.5bn. Revenue passenger miles for the second quarter increased 5.7% to 9.6bn on a capacity increase of 6.0%, resulting in a second quarter load factor of 84.6%, a decrease of 0.3 points year over year. Operating expenses for the quarter increased 9.8%, or $119m, over the prior year period. Interest expense for the quarter declined 7.5%, or $3m, due to JetBlue’s focus on debt reduction. JetBlue’s operating expense per available seat mile (CASM) for the second quarter increased 3.5% year over year to 11.88 cents. Excluding fuel and profit sharing, CASM2 increased 5.1% to 7.51 cents.
July 24, 2014 · 282 Views
United Airlines reported second-quarter 2014 net income of $919m, an increase of 51% year-over-year, excluding $130m of special items. Including special items, UAL reported second-quarter 2014 net income of $789m. Second quarter of 2014, total revenue was $10.3bn, an increase of 3.3% year-over-year. Second-quarter consolidated passenger revenue increased 3.6% to $9.0bn, compared to the same period in 2013. Ancillary revenue per passenger in the second quarter increased 7.9% year-over-year to more than $21 per passenger. Second-quarter cargo revenue decreased 1.7% versus the second quarter of 2013 to $232m. Other revenue in the second quarter increased 1.7% year-over-year to $1.1bn.
July 24, 2014 · 267 Views
For the second quarter 2014, American Airlines Group reported a record GAAP net profit of $864m. This compares to a GAAP net profit of $220m in the second quarter 2013, for AMR Corporation prior to the merger. The Company believes it is more meaningful to compare year-over-year results for American Airlines and US Airways excluding special charges and on a combined basis, which is a non-GAAP formulation that combines the results for AMR Corporation and US Airways Group. On this basis, second quarter 2014 net profit excluding net special charges was $1.5 billion, a record for any quarter in the history of the Company. This represents a 114% improvement over the combined non-GAAP net profit of $681m excluding net special charges for the same period in 2013. Total revenues in the second quarter were a record $11.4bn, up 10.2% versus the second quarter 2013 on a combined basis, on a 3.1% increase in total available seat miles (ASMs).
July 24, 2014 · 300 Views
China Airlines has selected UTC Aerospace Systems for a long-term detailed spare parts agreement that includes air management, electric, and engineering systems on select Boeing and Airbus aircraft operated by the airline. As part of the five-year exclusive agreement, UTC Aerospace Systems will provide China Airlines with OEM parts for the Airbus A330 and A340 and Boeing B737- 800NG and B747- 400 aircraft.
July 24, 2014 · 411 Views
Bombardier announced the implementation of a new organizational structure, comprised of four business segments: Bombardier Transportation, Bombardier Business Aircraft, Bombardier Commercial Aircraft and Bombardier Aerostructures and Engineering Services.
Effective immediately, all four business segments will report directly to Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc. The heads of the business segments remain Lutz Bertling at Transportation, Eric Martel at Business Aircraft and Mike Arcamone at Commercial Aircraft. The head of the new Aerostructures and Engineering Services business segment will be appointed in the next few weeks. Bombardier Aerospace group functions and the Customer Services division will be absorbed into the three aerospace business segments, generating reductions in cost and overhead.