Friday, October 10, 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.
October 8, 2014 · 159 Views
FL Technics, a global provider of tailor-made aircraft maintenance, repair and overhaul services, has recently won a tender for the rent of 8400 m² aircraft maintenance hangar at Indonesia’s Soekarno-Hatta International Airport, the busiest airport in the Southern Hemisphere. FL Technics will operate the hangar for at least 5 years and will launch its operation with base maintenance services for Airbus A320 aircraft. The tender for the hangar rent was conducted by PT Angkasa Pura II, a state enterprise of the Indonesian Department of Transport responsible for the management of airports and air traffic services in Indonesia. According to the terms and conditions, FL Technics with partners shall operate a total area of 24500 m², including a 8400 m² hangar as well as the adjacent ramp, aircraft parking stands and additional facilities, via an established Indonesian company. The new FL Technics MRO centre will employ over 150 engineers, technicians, NDT specialists and other qualified personnel, capable of serving up to three narrow-body type aircraft at one time. In 2013 Soekarno-Hatta International Airport served almost 400 000 domestic and international flights, approx. 59.7 million of passengers and over 342000 tonnes of cargo. These numbers make it one of the largest airports in Asia Pacific and the busiest in the Southern Hemisphere. Located in the heart of the Indonesian aviation market, new FL Technics MRO centre will support local operators with comprehensive solutions, including A-to-D checks, interior refurbishment services, NDT inspections, composite and structure repairs, spare parts supply, etc. All services will be provided in accordance with both local and EASA requirements.
October 8, 2014 · 79 Views
InterSky, the Austria-based regional carrier, and ATR have signed a 3-year agreement for a brand new exchange, repair and overhaul service for leading edges of the wing and control surface ribs. Casting this new service, ATR adds greater flexibility to its wide range of specialist services and bespoke solutions known as the Global Maintenance Agreement (GMA), proposed by ATR to all its operators worldwide. The new Leading Edge maintenance service will help ATR customers to further increase their operational flexibility and dispatch reliability, meeting their requirements in regard to fully serviceable leading edge availability for their ATR fleet. The leading edge exchange and repair service include replacement of the de-icer boot along with structural repair options. Complete re-skinning of wing leading edge outer surfaces may be performed, when necessary. The comprehensive spares availability at ATR certified repair shops worldwide guarantees reliable uninterrupted operations without major capital investments.
October 8, 2014 · 100 Views
Evelop Airlines has signed an exclusive contract with AFI KLM E&M to organize the repair and overhaul of the Auxiliary Power Units (APUs) equipping its A320-200 and A330-300 aircraft. EPCOR, the AFI KLM E&M subsidiary specialized in maintenance for APUs and a wide range of pneumatic components, will provide Evelop Airlines with the services covered by the agreement. In choosing the services of AFI KLM E&M and EPCOR, Evelop Airlines will be benefiting from the extensive experience and know-how of a unique service provider for the repair and overhaul of two distinct types of APU. For many years, EPCOR has been a leading player in the APU maintenance market in Europe, and a partner of choice for numerous airlines.
October 8, 2014 · 80 Views
The ATR Assembly of Members has appointed Laurence Rigolini as new Corporate Secretary of ATR. Within the scope of this new position, she will manage institutional relations, communication, general services and environment. She will report to ATR’s Chief Executive Officer Patrick de Castelbajac and will sit on the Executive Committee. During her career, she has held a number of successive different positions within Airbus Helicopters’ (previously Eurocopter) Commercial Division, where she was first Western Europe Commercial Director and then Europe Commercial Director, before becoming Vice-President of Corporate Communications in 2002. In 2010, she was appointed CEO of the Russian subsidiary Eurocopter Vostok, where she was responsible for civil and para-public helicopter sales and associated Support & Services for Russia and CIS countries.
October 8, 2014 · 83 Views
Air Lease Corporation announced two additional twelve-year lease agreements with EVA Air (Taiwan) for new Boeing 777-300ER widebody aircraft. The aircraft are scheduled for delivery in 2016 and 2017 from ALC’s order book with Boeing. With this latest contract, EVA has now leased four new Boeing 777-300ERs from ALC.
October 8, 2014 · 101 Views
Republic Airways reported September traffic increase of 11% over the same period in 2013, on an 8% increase capacity. The load factor increased 2.0 points from the same period in 2013 to 76.3%.
October 8, 2014 · 296 Views
AeroTurbine announced the closing of a previously announced strategic partnership with Lufthansa Technik. The long-term agreement covers a broad range of products and services centered around AeroTurbine’s ability to provide Lufthansa Technik with a more predictable supply of used content in their MRO businesses and LHT’s world class repair capability. AeroTurbine offers the aviation industry access to one of the world’s largest pools of certified aircraft engines, parts, and supply chain solutions. By leveraging their expertise and financial strength, their customers can choose solutions tailored to their operational and financial goals.
October 8, 2014 · 145 Views
During its last board meeting, members of USAIRE elected Pascal Parant, Vice President of Marketing at AAR, as the new president. Parant succeeds Philippe Bottrie, who decided not to run for a third term after a brilliant presidency. USAIRE’s objective is to foster international understanding and cooperation in the transatlantic aerospace and high-tech communities. Each year, USAIRE invites top executives to meet with its members during a series of friendly, professional luncheons. USAIRE was founded in Paris in 1959 to bring together a consolidated body of U.S. aerospace industry representatives to interface with government agencies and organizations such as NATO, SHAPE and U.S.A.I.A. USAIRE has over 130 high-profile members and companies.
October 8, 2014 · 149 Views
Delta TechOps continues to invest in landing gear overhaul infrastructure and is exploring the expansion of its landing gear overhaul portfolio to include additional aircraft types in 2015. “Investments during the past year to boost landing gear inventory in support of Delta Air Lines, allows Delta TechOps to present yet another unique value proposition – availability of exchange gears for Boeing 737NG, 757 and 767 gear sets,” said Jack Arehart, president of MRO Services – Delta TechOps. Delta TechOps’ ISO 9001-certified on-site plating and fabrication capabilities allows for industry-leading turn times on all landing gear overhaul offerings – including all Boeing 737NG, 757, 767 series as well as the MD-88 and MD-90. Additionally, Delta TechOps announced extensions of MRO Services contracts for Boeing 737 Next Generation aircraft with Sun Country Airlines and Brazil’s GOL.
October 8, 2014 · 212 Views
With 2013 seeing a massive jump of 48%in the profits of Etihad Airways, it would seem that they are hungry for success. In addition to investing heavily in acquiring a 49% stake in Alitalia forUS$2.35bn this year to gain a foothold in key European markets, Etihad has invested over US$1bn on 7 other carriers dotted around the world since 2011. Etihad Airways is wholly owned by the Government of Abu Dhabi, and this week it has announced the creation of a fourth major global airlines alliance, Etihad Airways Alliance. This alliance will include five other airlines Etihad has a share in, including airberlin, which is currently a member of Oneworld, Air Serbia, Air Seychelles, India’s Jet Airways and Darwin Airline.
With a commercial holding in each of these airlines it makes sound economic sense to try and use economies of scale and this is doubtless of great benefit to Etihad Airways itself. This alliance will synchronize schedules and frequent flyer benefits will be offered in a similar manner to the three other major alliances. As Etihad president and CEO James Hogan put it: “The Etihad Airways Partners logo is a seal of excellence and global cooperation. It will be displayed on aircraft and on branded materials by a group of airlines working together to connect travelers around the world, and increasingly to harmonize standards in the air and on the ground.
“The potential for network alignment to maximize flight connectivity for passengers, together with a shared passion for superior service, are central to the ethos of the Etihad Airways Partner concept,” he added. With Qatar Airways belonging to the Oneworld Alliance and Emirates preferring to remain wholly independent, one senses that Etihad is playing chess and looking at ways to cleverly manoeuver itself into a more powerful situation with reference to its neighboring airlines, as well as globally. It would be no surprise to see the airline make further substantial investments in major airlines, and have each and every one eventually join the Etihad Airways Alliance. After all, what better reason for an alliance than holding a substantial share in each airline included?
October 8, 2014 · 140 Views
Gulfstream Aerospace Corp. today announced that its flagship Gulfstream G650ER has been certified by the Federal Aviation Administration. The certification verifies the airworthiness of the aircraft’s design and clears the way for G650ER deliveries to begin. Gulfstream announced the ultra-long-range aircraft in May and expects to deliver the first fully outfitted G650ER business jets to customers before year-end, ahead of the projected 2015 delivery date.
October 9, 2014 · 157 Views
Vector Aerospace Helicopter Services – North America has signed an agreement with the Royal Thailand Air Force (“RTAF”) to provide PT6T engine accessories including fuel control units and governors and combining gearboxes for the RTAF’s fleet of Bell 412 aircraft. The agreement runs over the next 12 months, with automatic contract renewals subject to meeting certain performance requirements.
October 9, 2014 · 82 Views
PAS Technologies reported that Dennis C. Hercules, Vice President of Global Human Resources, will retire on December 31st, 2014. Frank Tracano, Jr. succeeds Hercules, effective immediately, and has been appointed Vice President of Business Development, Global Human Resources and Contracts for PAS Technologies. In his new role, Tracano reports to the company’s Chief Executive Officer, Thomas C. Hutton, and will work with Hercules through year’s end to ensure a smooth transition.
October 9, 2014 · 86 Views
Norwegian has selected Rolls-Royce Trent 1000 engines for nine additional leased Boeing 787-9 Dreamliner aircraft. This brings the total number of Norwegian’s Trent 1000-powered Boeing 787 Dreamliners to 17. All of the engine sales are already accounted for in the Rolls-Royce orderbook. In addition, the airline has also ordered long-term TotalCare service support for engines powering the nine aircraft, worth $440m. The leased aircraft will be powered by the latest version of the Trent 1000, the Trent 1000-TEN.
October 9, 2014 · 144 Views
GA Telesis has signed an MOU to distribute and sell serviceable LRU components for Airbus and Boeing platforms stocked by Ontic, a BBA Aviation company. The partnership between the companies will ensure that Ontic’s customers are covered worldwide by GA Telesis’ expansive sales and distribution network. While the initial focus of the partnership will be on the Airbus 320 family and Boeing 777 platforms, the program will soon be expanded to include all platforms supported by Ontic. All parts offered will be repaired at Ontic’s FAA and EASA certified repair stations located in Chatsworth, CA; Cheltenham, UK; and Singapore.
October 9, 2014 · 170 Views
Finmeccanica-Alenia Aermacchi selected Williams International FJ44-4M to power the new M-345 HET (High Efficiency Trainer) aircraft. FJ44-4M is the fully aerobatic version of FJ44-4A engine. It is a modern two–spool co–rotating turbofan engine with medium bypass ratio, mixed exhaust, and high cycle pressure ratio. FJ44-4M is in the class of 3400 lbs thrust with low fuel consumption, and takes advantage of Williams well recognized track in maintenance services in order to further reduce operating costs. The two Companies already started joint activities to finalize the collaboration framework which will lead to integrate the engine into M-345 HET aircraft in the next couple of years.
October 9, 2014 · 76 Views
UAL’s September 2014 consolidated traffic decreased 0.2% and consolidated capacity decreased 0.4% versus September 2013. UAL’s September 2014 consolidated load factor increased 0.2 points to 82.9% compared to September 2013.
October 9, 2014 · 118 Views
Atlas Air Worldwide Holdings has appointed John W. Dietrich as President and Chief Operating Officer (COO) of Atlas Air, the company’s wholly owned subsidiary, effective October 15th, 2014. Mr. Dietrich will retain his role with the parent holding company and continue to report to William J. Flynn, Atlas Air Worldwide’s President and Chief Executive Officer.
Furthermore Michael T. Steen has been appointed as President and Chief Executive Officer of the company’s wholly owned dry-leasing subsidiary, Titan Aviation Holdings, effective October 15th, 2014.
October 9, 2014 · 129 Views
CFM International’s LEAP engine took to the skies for the first time on October 6th, on a modified 747 flying testbed at GE Aviation Flight Test Operations in Victorville, California, launching the next phase of testing for the advanced engine program. The engine behaved well and completed multiple aeromechnical test points at various altitudes during the nearly three-hour first flight. Over the next several weeks, the engine will complete a comprehensive test schedule that will gauge engine operability, stall margin, performance, and acoustics. The LEAP-1A/-1C variants are on track for engine certification in 2015.
October 9, 2014 · 148 Views
Russian airline Red Wings and Sukhoi Civil Aircraft Company signed a rental agreement for three Sukhoi Superjet 100 aircraft. The aircraft will be handed over to the airline by the end of 2014 for one year with the possibility of extension. Red Wings airline plans to operate Sukhoi Superjet 100 in Russia: from Moscow to Ufa, Makhachkala, Chelyabinsk, Sochi and Mineralnye Vody.
October 9, 2014 · 143 Views
AerCap Holdings completed 134 aircraft transactions during the third quarter of 2014 and signed lease agreements for 84 aircraft. The company delivered 26 aircraft under contracted lease agreements and purchased nine new aircraft, including five Boeing 787-8s, three Boeing 737-800s and one Airbus A321-200. AerCap also executed sale and part-out transactions for 15 aircraft, including: one Airbus A300-600F, one Airbus A340-300, eight Boeing B737 classics, one Boeing B767-300ER and two MD-11s from AerCap’s owned portfolio. One Boeing 737 classic and one Airbus A320-200 from AerCap’s managed portfolio.
October 9, 2014 · 184 Views
EPCOR has signed a long-term contract with Air Canada covering maintenance of the APS 5000 APUs installed on its fleet of 37 Boeing 787 Dreamliners already in revenue service or scheduled for delivery through to 2019. The contract also provides for spares provisioning through a dedicated pool of APUs. Repairs will be carried out at EPCOR’s Amsterdam facility, which has been repairing the APS5000 since early 2014.
October 9, 2014 · 173 Views
Lufthansa Technik AG has now equipped the newest Lufthansa aircraft with a Premium Economy cabin. The Boeing 747-8 “Yankee Quebec” arrived – fresh from the factory in Seattle – on August 30th in Frankfurt, where it received its new Premium Economy Class in mid-September during a layover for the completion of the cabin interior. By late summer 2015, Lufthansa Technik AG will have equipped a total of 101 Lufthansa long-haul aircraft with this new cabin class during these short layovers of three days. The modifications of the Airbus A380, A340-600, A340-300, and A330 aircraft types and the Boeing 747-8 and 747-400 will take place primarily at Lufthansa’s two hubs in Frankfurt and Munich, but modifications will also be performed during planned layovers in Hamburg, Manila and on Malta. An initial modification, including EASA approval, is required for each aircraft type before the complete fleet of that type can be equipped with a Premium Economy Class cabin. The number of seats in the Premium Economy Class varies by aircraft: while the A330, for example, seats 21 passengers, the Airbus A380, with 52 seats, will offer the largest Premium Economy Class.
October 9, 2014 · 136 Views
Clearly Airbus listens to its advisers. Last year Activist hedge fund TCI described the Airbus stake in Dassault “a poor use of capital” and suggested Airbus should sell it. Soon afterwards Airbus set about creating a strategy where they could relinquish a percentage of their holdings in the company in as profitable manner as possible. Currently Airbus owns a 46 percent stake in Dassault Aviation and they are currently weighing up the possibilities of placing a 10% stake in the business with financial institutions.
Dassault Aviation is currently controlled by the family holding company, Groupe Industriel Marcel Dassault, which owns 50.55 a percent stake in the company which is estimated to be worth €10 billion. However in response to the possibility of Airbus releasing the tightly-traded stock, the family controlled Dassault Aviation agreed to buy back 10% of the previously traded stock. With the release of 10% to financial institutions, that would see 20% of the stock already taken care of.
Airbus Group’s head of corporate communications Rainer Ohler said: “That provides an obvious route for a partial exit…. We believe, however, that longer-term value objectives might be better served through combining a sale to Dassault with the placing of a meaningful amount of shares in the market, enough for there to be much improved liquidity, and so we continue to review our options in this respect”
In July, Airbus decided to end a longstanding arrangement to warehouse their stake in Dassault on behalf of the French government and made it very clear it was more a case of ‘when’ rather than ‘if’. Airbus had inherited their stake in Dassault from Aerospatiale together with a substantial headquarters building in Paris. The sale of this building for €60 million this year certainly helped boost Airbus profits in a year after their stock value fell 10.6% in comparison to Dassault’s increase by 3.6%.
Rainer Ohler made it abundantly clear that Airbus had received “numerous expressions of interest from investors” while it has been made clear the Dassault family want to expand the market float, bring in new investors, and progress while still retaining control of the company.