Category: Pilot (Page 9 of 24)

Boom Supersonic selects Honeywell Anthem integrated flight

December 25, 2023 / WIL BALDWIN

Boom Supersonic, the company building the world’s fastest airliner, has selected the Honeywell International (Nasdaq: HON) Anthem integrated flight deck for its Overture aircraft. As part of the agreement between the two companies, Honeywell’s next-generation flight deck and its modular avionics platform will be incorporated into Overture.

The Honeywell Anthem flight deck will be tailored for Overture’s specific mission requirements, helping to enable exceptional situational awareness and enhanced safety. The advanced avionics interface provides continuity to Overture pilots from initial simulator-based flight training through to actual flights. Honeywell successfully completed the first flight of its Anthem integrated flight deck using its Pilatus PC-12 test aircraft in May 2023, paving the way for Federal Aviation Administration certification.

As a pioneer in integrated modular avionics, Honeywell has successfully matured multiple generations of flight deck technology. Honeywell’s unmatched expertise in the development and certification of large and complex avionics systems provides a foundation for the development and certification of a new generation of integrated avionics onboard Overture.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Ethiopian Airlines and Citigroup Sign $450M Loan Agreement

December 25, 2023 / WIL BALDWIN

Ethiopian Airlines, Africa’s largest carrier, today announce a landmark USD $450 million loan agreement that will finance five new Boeing (NYSE: BA) aircraft: three Boeing 737-8 and two Boeing 777F Cargo.

The loan will be secured against the value of the five planes and has been arranged exclusively by Citigroup (NYSE: C) Corporate Banking and Export Agency and Finance teams. It is guaranteed by the Export-Import Bank of the United States (EXIM).

The five new aircraft will bolster Ethiopian Airline’s fleet to 150 in total and delivery of all the aircraft will be completed in the U.S. state of Washington in December. The new arrivals will help Ethiopian serve all its destinations by accelerating its expansion throughout the world and will further bolster Ethiopian Cargo & Logistics Services’ position as Africa’s largest cargo network operator. Ethiopian Airlines has ambitions to grow its fleet to over 270 aircraft by 2035.

Forward-Looking Statements

Norse Atlantic Airways extending flights from Oslo to Bangkok

December 23, 2023 / WIL BALDWIN

Norse Atlantic Airways ASA (Oslo: NORSE) is pleased to announce the continuation of its highly successful direct flights from Oslo to Bangkok in the upcoming summer 2024 season. Following a highly anticipated launch in the winter of 2023, this route has quickly become a traveller favourite, connecting two vibrant cities and catering to the increasing demand for affordable direct flights to Thailand.

Fares start from NOK 3869 one way including all fees and taxes and are available to book now on www.flynorse.com

Norse Atlantic exclusively operates modern Boeing 787 Dreamliner aircraft. The cabin offers passengers a relaxed and comfortable travel experience with each seat including a personal, state-of-the-art entertainment experience. Our Norse Premium cabin offers an industry leading 43” seat pitch and 12” recline, allowing passengers to arrive at their destination feeling refreshed and ready to explore their destination.

Norse Atlantic offers two cabin choices: Economy and Norse Premium. Passengers can choose from a simple range of fares, Light, Classic and Flextra, that reflect the way that they want to travel, and which options are important to them. Light fares represent Norse’s value option, while Flextra fares include the maximum baggage allowance, two meal services and increased ticket flexibility.

Forward-Looking Statements

Southwest Airlines pilots to vote on new five-year agreement

December 20, 2023 / WIL BALDWIN

Dallas, Texas, December 20, 2023 – Southwest Airlines Co. (NYSE: LUV) announced today that a Tentative Agreement has been reached with the Southwest Airlines Pilots Association (SWAPA) and will be voted on by the airline’s nearly 11,000 Pilots.

SWAPA will communicate details of the contract and the voting process to Pilots.

Southwest® began accruing for market wage rates for all open labor contracts April 1, 2022. The Company’s fourth quarter 2023 guidance range for operating expenses per available seat mile, excluding fuel and oil expense, profitsharing, and special items (CASM-X), including those associated with this Tentative Agreement, remains unchanged at down 16 percent to 19 percent year-over-year. The CASM-X guidance range is inclusive of market wage rate accruals for this, and all open labor contracts, related to the fourth quarter 2023 time period.

Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to (i) the Company’s financial outlook, plans, expectations, and projected results of operations and (ii) labor matters. These forward-looking statements are based on the Company’s current estimates, intentions, beliefs, expectations, goals, strategies, and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of fears or actual outbreaks of diseases, extreme or severe weather and natural disasters, actions of competitors, fuel prices, consumer perception, economic conditions, banking conditions, fears or actual acts of terrorism or war, sociodemographic trends, and other factors beyond the Company’s control, on consumer behavior and the Company’s results of operations and business decisions, plans, strategies, and results; (ii) the Company’s ability to timely and effectively implement, transition, and maintain the necessary information technology systems and infrastructure to support its operations and initiatives; (iii) the emergence of additional costs or effects associated with the cancelled flights in December 2022, including litigation, government investigation and actions, and internal actions; (iv) the Company’s dependence on its workforce, including its ability to employ and retain sufficient numbers of qualified Employees to effectively and efficiently maintain its operations; (v) the Company’s ability to obtain and maintain adequate infrastructure and equipment to support its operations and initiatives; (vi) the Company’s dependence on third parties, in particular with respect to its technology plans, its plans and expectations related to operational reliability, fuel supply, and maintenance, and the impact on the Company’s operations and results of operations of any third party delays or non-performance; (vii) the impact of labor matters on the Company’s business decisions, plans, strategies, and results; (viii) the impact of governmental regulations and other governmental actions on the Company’s business plans, results, and operations; and (ix) other factors, as described in the Company’s filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10- K for the fiscal year ended December 31, 2022. Caution should be taken not to place undue reliance on the Company’s forward-looking statements, which represent the Company’s views only as of the date of this news release. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Embraer doubles service center capacity by expanding maintenance and customer support

December 20, 2023 / WIL BALDWIN

Embraer is expanding with 3 additional MRO facilities in Texas, Ohio, and Florida

Melbourne, Florida, December 20, 2023 – Embraer (NYSE: ERJ) announced today that it is doubling its maintenance service capacity in the United States, to support the continued growth of its executive jets’ customer base through the addition of three Executive Aviation Maintenance, Repair and Overhaul (MRO) facilities in Dallas Love Field, TX, Cleveland, OH, and Sanford, FL.

Embraer will also substantially increase its Mobile Response network by 28 teams, and enlarge its capabilities including access to interior services, paint, and component repairs as part of this expansion. Service at these locations is set to begin in the second quarter of 2024. Embraer currently has three owned U.S.-based service centers dedicated to its executive jet customers located in Mesa, AZ, Melbourne, FL, and Fort Lauderdale, FL. Further, the company has 24 authorized service centers for its executive jets across the USA.

Forward-Looking Statements

Spain orders 16 Airbus C295 for Maritime Patrol and Surveillance

December 20, 2023 / WIL BALDWIN

Getafe, Spain, December 20, 2023 – The Spanish Ministry of Defence has ordered 16 Airbus Group SE (Paris: AIR) C295 aircraft in Maritime Patrol Aircraft (MPA) configuration and Maritime Surveillance Aircraft (MSA) configuration. The contract amounts to €1.695 billion.

These new aircraft will enable the Spanish Air and Space Force and the Spanish Navy to strengthen the national anti-submarine warfare capability as well as increase and enhance its surveillance, reconnaissance and search & rescue units.

The contract also includes training systems (Full Flight Simulator and Mission System Simulator) and an initial logistics support package.

The C295 MPA will conduct the missions performed by the P-3 Orion fleet, which were retired at the end of 2022. It will be equipped to carry out anti-submarine, anti-surface warfare and intelligence, surveillance and reconnaissance missions. Likewise, it will be able to carry armaments such as torpedoes and other types of weapon systems.

Forward-Looking Statements

LATAM orders five additional Boeing 787 aircraft

December 20, 2023 / WIL BALDWIN

LATAM Airlines Group SA (ADR: LTMAY) announces an order for five more Boeing (NYSE: BA) 787 Dreamliners to continue advancing its commitment to be more efficient and sustainable. The purchase ranks the South American airline group as the largest operators of Dreamliners in Latin America.

With this order, together with the already scheduled deliveries of this model in the upcoming years, LATAM group will reach a total of 46 Boeing 787 airplanes. Representing an increase of 20 airplanes of this model compared to the pre-pandemic fleet, this investment reinforces the group’s commitment to have one of the most modern and efficient fleets in South America.

Additionally, LATAM group has decided to equip the next Boeing 787s it receives with GEnx engines by General Electric (NYSE: GE) Aerospace Division, becoming the first airline in South America to have these engines known for their high performance and efficiency.

The GEnx engine family has more than 50 million flight hours since entry into service in 2011 and is the fastest-selling, high-thrust engine in GE history with nearly 3,000 engines in service and on backlog, including spares, according to data from its manufacturer.

Forward-Looking Statements

Lufthansa Group orders another 40 Airbus A220 aircraft

December 19, 2023 / WIL BALDWIN

Toulouse, France, December 19, 2023 – The Deutsche Lufthansa AG (Xetra: LHAG) Supervisory Board decided to place a firm order for an additional 40 Airbus Group SE (Paris: AIR) A220-300s for its short and medium-haul fleet. The A220 has been in service with the Group since 2016, when SWISS put the first aircraft into scheduled service.

With its latest order Lufthansa reinforces its long standing relationship with Airbus. Since the A300 in the 1970’s, Lufthansa Group has operated all members of the Airbus product family, from the A220, A320-Family, A330, A340, A350 and the A380.

Forward-Looking Statements

U.S. Navy awards RTX $80 million advanced electronic warfare contract

December 19, 2023 / WIL BALDWIN

Goleta, California, December 19, 2023, PRNewswire – The United States Navy awarded Raytheon, an RTX (NYSE: RTX) Business, an $80 million contract in a down select to prototype Advanced Electronic Warfare, or ADVEW, for the F/A-18 E/F Super Hornet. This prototype will be considered as a replacement for the existing AN/ALQ-214 integrated defensive electronic countermeasure and AN/ALR-67(V)3 radar warning receiver with a consolidated solution that will deliver superior electronic warfare capabilities to the backbone of the Navy’s carrier air wing.

Raytheon’s Advanced Electronic Warfare offering will provide significant performance upgrades by modernizing existing electronic warfare systems into fewer components and incorporating government-defined open architecture. Development of this new solution will closely align and integrate with other combat-proven, radio frequency sensors and effectors employed by the Super Hornet. ADVEW will ensure F/A-18E/Fs maintain their operational electronic warfare advantage, while significantly improving survivability against advanced, complex threats.

Development and testing of ADVEW will mainly take place in Goleta, California. During the prototype phase, the system will undergo preliminary design review, critical design review, and flight testing over a 36-month period.

Forward-Looking Statements

Finnair acquires six leased aircraft & repays part of pension loan

December 19, 2023 / WIL BALDWIN

Finnair Oyj (Helsinki: FIA1S) executed a rights issue of 570 million euros in November 2023. Thanks to the strengthened balance sheet and cash funds resulting from the rights issue, Finnair has now purchased six previously leased A321 aircraft from BOC Aviation. Finnair will spend in excess of 200 million euros on the transaction, and its positive impact on both profit before taxes and cash flow will be in excess of 20 million euros per year over the next few years.

Finnair has also repaid an additional tranche of 120 million euros of its 600-million-euro pension premium loan in December in addition to the previously planned 100-million-euro instalment. The December instalment, including interest, totals approximately 230 million euros, after which the remaining loan amount is 280 million euros, to be repaid during May 2025 at the latest. The impact of the additional loan repayment of 120 million euros on profit before taxes will be approximately 3 million euros in 2024 in the form of lower net interest costs.

In connection with the rights issue announcement in autumn 2023, Finnair supplemented its financial targets, which were based on the assumption that e.g. the company’s cash to sales ratio would remain at 30 per cent over time. As a result of the aircraft purchases and the loan repayment, Finnair’s cash to sales ratio is close to but still exceeds the target of 30 per cent.

These measures are a part of Finnair’s strategy implementation and support reaching financial targets by the end of 2025. In addition, these measures will contribute to reaching Finnair’s target of reinstating shareholder distributions, based on the 2024 result, starting from spring 2025.

Forward-Looking Statements

Archives