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Tag: executive (Page 2 of 16)

Embraer deliveries increase 47% in second quarter 2023

August 6, 2023 /

Sao Jose dos Campos, Brazil, August 3, 2023 – Embraer (NYSE: ERJ) delivered a total of 47 jets in the second quarter of 2023, of which 17 were commercial aircraft and 30 were executive jets (19 light jets and 11 midsize jets). During the year, the company delivered a total of 62 aircraft (24 commercial and 38 executive). The second quarter deliveries were 47% higher than in the same period from 2022. In the first half of 2023, the volume has increased 35% compared to 2022, when 46 jets have been delivered. Compared to the second quarter of 2022, deliveries volume increased by 55% in Commercial Aviation and 43% in Executive Jets. The firm order backlog ended the period at US$ 17.3 billion.

In Commercial Aviation, American Airlines signed a firm order with Embraer for seven new E175’s. The aircraft will be operated by the subsidiary Envoy Air. With deliveries to begin 4Q23, Envoy’s fleet of E-Jets will grow to over 141 aircraft by the end of 2024. Embraer also received a firm order from Binter for six E195-E2’s, which will bring Binter’s E2 fleet to 16 jets when deliveries are completed. Four E175’s also began operations with Star Air, an Indian airline that already operates E-Jets. Star Air has also extended its Pool Program contract to include the E175’s in its fleet

Malaysia’s SKS Airways closed an agreement to add ten E195-E2 jets to its fleet. In addition, SKS joined the Pool Program to support aircraft to be operated in Southeast Asia. Scoot, a low-cost subsidiary of Singapore Airlines, is also adding nine E190-E2’s to its portfolio. And Royal Jordanian Airlines reached an agreement to introduce eight E190-E2 and E195-E2 jets into its operations, with deliveries starting in the 4Q23. All three agreements involved contracts with the leasing company Azorra.

Aerial view of the Singapore landmark financial business district at twilight sunset scene with skyscraper and beautiful sky. Singapore downtown

In Executive Aviation, NetJets signed a contract with Embraer for the acquisition of up to 250 Praetor 500 jet options. The deal is valued at more than US$ 5 billion, and deliveries are expected to begin in 2025.

Union Pacific Corporation Announces 10% Dividend Increase for Fourth Quarter 2021

December 14, 2021 /

Union Pacific Corporation (NYSE: UNP) announced that its Board of Directors today voted to increase the quarterly dividend on the Company’s common shares by 10% to $1.18 per share. The dividend is payable December 30, 2021, to shareholders of record December 20, 2021. Union Pacific has paid dividends on its common stock for 122 consecutive years.

“Union Pacific continues to deliver strong cash returns to our shareholders,” said Jennifer Hamann, Union Pacific executive vice president and chief financial officer. “Today’s action, coupled with the 10% increase earlier this year, is consistent with our targeted dividend payout ratio of 45 percent.” 

About Union Pacific

Union Pacific delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.

Southwest Airlines Commemorative History Book Celebrates its 50th Anniversary

December 3, 2021 /

DALLAS, TEXAS, December 2, 2021  Southwest Airlines Company (NYSE: LUV) is wrapping up its milestone 50th Anniversary year by releasing a one-of-a-kind commemorative history book, “50 Years. One Heart. A History of Southwest in 50 Objects.”

Starting today, Southwest® fans can purchase this unique coffee-table book, which brings to life the Company’s colorful history, its corporate archives, and reflection of its People through photographs and moments from the carrier’s rich past, exclusively sold at Southwest® The Store. This special book also represents the exciting culmination of 50 years’ worth of iconic stories as Southwest Airlines® closes out its first five decades.

“Throughout our 50th Anniversary year, we’ve reflected on the past—the People, stories, and moments that defined our first half-century,” said Gary Kelly, Chairman of the Board and Chief Executive Officer for Southwest Airlines. “This commemorative history book celebrates our unique past and Culture, and serves as an inspiration as we close one chapter of our Company history and turn the page to our next chapter, filled with hope and resilience.” 

Southwest is celebrating its incredible first 50 years by showcasing a stunning collection of 50 unique objects, outfits, and artifacts (photographed by Southwest Sr. Photographer Stephen M. Keller and Southwest Sr. Designer Brianna Juda), accompanied by short stories from the Company’s inspiring history and a special foreword by Kelly as he prepares to transition into his role as Executive Chairman of the Board of Directors in early 2022.

This is the first of two special books launching in celebration of Southwest’s 50th year of service—more information coming on the second book in early 2022.

KiwiRail Leases Additional Ferry to Boost Interislander Service

November 6, 2021 /

KiwiRail has leased an additional freight ferry to provide capacity and resilience on Cook Strait, KiwiRail Group Chief Executive Greg Miller announced today. The Valentine is completing technical due diligence in England now, ahead of sailing to New Zealand. It is due to arrive in mid-December and Interislander crews will familiarize themselves with the ship before Valentine begins working the Cook Strait, likely later in December.

Mr Miller said the Interislander fleet is aging and more prone to breakdown. “Old ships tend to have mechanical problems and this has been highlighted with the current mechanical issues on Aratere. While she has now resumed service, we know that disruption is bad for us and our customers.

The Valentine is being leased for an initial 12 months.  Valentine has been working in the English Channel and is well-suited to KiwiRail operations.

Mr Miller says the move shows KiwiRail’s determination to support the movement of essential supplies in New Zealand through increased capacity, collaboration, and improving scheduling and resource planning.

Embraer Announces Earning Results for Third Quarter 2021

November 5, 2021 /

São Paulo, Brazil, November 5, 2021 – Embraer (NYSE: ERJ) announced the company’s operating and financial information on a consolidated basis in United States dollars (US$) in accordance with IFRS. The financial data presented in this document as of and for the quarters ended September 30, 2021 (3Q21), June 30, 2021 (2Q21) and September 30, 2020 (3Q20), are derived from the unaudited financial statements, except annual financial data and where otherwise stated.

HIGHLIGHTS

• Embraer delivered 9 commercial jets and 21 executive jets (14 light / 7 large) in 3Q21, bringing the year-to-date deliveries to 32 commercial jets and 54 executive jets (36 light /18 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of 3Q21 was US$ 16.8 billion;

• Revenues in 3Q21 reached US$ 958.1 million, representing year-over-year growth of 26.3% compared to 3Q20, with double digit growth in all segments;

• Excluding special items, adjusted EBIT and EBITDA were US$ 35.7 million and US$ 79.2 million, respectively, yielding adjusted EBIT margin of 3.7% and adjusted EBITDA margin of 8.3%. In the first nine months of 2021, adjusted EBIT margin was 3.8% and adjusted EBITDA margin was 8.9%;

• Adjusted net loss (excluding special items and deferred income tax and social contribution) in 3Q21 was US$ (33.9) million, with adjusted loss per ADS of US$ (0.18);

• Embraer generated free cash flow in 3Q21 of US$ 21.3 million, and in the first nine months of 2021 free cash usage was US$ (160.2) million. The positive free cash flow in 3Q21 represented the first time in more than 10 years the Company generated cash in the usually seasonally weak third quarter. The free cash flow in both periods represented a significant improvement compared to the prior year periods on better profitability and working capital efficiencies, particularly with respect to inventory management;

• The Company finished the quarter with total cash of US$ 2.5 billion and net debt of US$ 1.8 billion;

• Given better-than-expected free cash flow performance over the first nine months of 2021, Embraer is updating its guidance for free cash flow without M&A or divestitures to a range of US$ 100 million or better, from the prior range of US$ (150) million to breakeven. The Company reiterates its other financial and deliveries guidance for 2021 of commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 aircraft, consolidated revenues in a range of US$ 4.0 to $4.5 billion, adjusted EBIT margin of 3.0% to 4.0%, and adjusted EBITDA margin of 8.5% to 9.5%.

Airbus Reports Third Quarter 2021 Results

October 28, 2021 /

Amsterdam, 28 October 2021 – Airbus SE (Paris stock exchange symbol: AIR) reported consolidated financial results for the nine months ended 30 September 2021.

“The nine-month results reflect a strong performance across the company as well as our efforts on cost containment and competitiveness. As the global recovery continues, we are closely monitoring potential risks to our industry. We are focused on securing the A320 Family ramp up and striving to ensure the right industrial and supply chain capabilities are in place,” said Airbus Chief Executive Officer Guillaume Faury. “Based on our nine-month performance, we have updated our 2021 earnings and cash guidance. We are strengthening the balance sheet to secure investment for our long-term ambitions.

Gross commercial aircraft orders totalled 270 (9m 2020: 370 aircraft) with net orders of 133 aircraft after cancellations (9m 2020: 300 aircraft). The order backlog was 6,894 commercial aircraft on 30 September 2021. Airbus Helicopters booked 185 net orders (9m 2020: 143 units), including 10 helicopters of the Super Puma Family. Airbus Defence and Space’s order intake by value was € 10.1 billion (9m 2020: € 8.2 billion) with third quarter orders including 56 C295 aircraft for India, two A400Ms for Kazakhstan and support and spares contract renewals for the German and Spanish Eurofighter fleets.

Consolidated revenues increased 17 percent to € 35.2 billion (9m 2020: € 30.2 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to 9m 2020. A total of 424 commercial aircraft were delivered (9m 2020: 341 aircraft), comprising 34 A220s, 341 A320 Family, 11 A330s(1), 36 A350s and 2 A380s. Revenues generated by Airbus’ commercial aircraft activities increased 21 percent, largely reflecting the delivery performance compared to 2020 which was strongly impacted by COVID-19. Airbus Helicopters delivered 194 units (9m 2020: 169 units) with revenues up 14 percent reflecting growth in services as well as the higher deliveries, notably more helicopters from the Super Puma family. Revenues at Airbus Defence and Space were broadly stable year-on-year with four A400M military airlifters delivered in 9m 2021.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – was € 3,369 million (9m 2020: € -125 million).

The EBIT Adjusted related to Airbus’ commercial aircraft activities totalled € 2,739 million (9m 2020: € -641 million), mainly driven by the operational performance linked to deliveries and efforts on cost containment and competitiveness.

The A220 production rate, which is currently at 5 aircraft a month, is expected to increase to around rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by the middle of the decade. On the A320 Family programme, the Company is working to secure the ramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023. The recent commercial successes of the A330 programme enable a monthly rate increase from around 2 to almost 3 aircraft at the end of 2022. The A350 programme is expected to increase from around 5 to around 6 aircraft a month in early 2023.

Airbus Helicopters’ EBIT Adjusted increased to € 314 million (9m 2020: € 238 million), driven by services, programme execution and lower spending on Research & Development (R&D).

EBIT Adjusted at Airbus Defence and Space increased to € 284 million (9m 2020: € 266 million), mainly reflecting the Division’s efforts on cost containment and competitiveness.

Consolidated self-financed R&D expenses totalled € 1,919 million (9m 2020: € 2,032 million).

Consolidated EBIT (reported) amounted to € 3,437 million (9m 2020: € -2,185 million), including net Adjustments of € +68 million. 

These Adjustments comprised: 

  • € +190 million related to the A380 programme, of which € +45 million were booked in Q3;
  • € -165 million related to the dollar pre-delivery payment mismatch and balance sheet revaluation, of which € +5 million were in Q3;
  • € +43 million of other Adjustments, including compliance costs, of which € -6 million were in Q3.   

The financial result was € -172 million (9m 2020: € -712 million). It mainly reflects the net interest result of € -233 million partly offset by € +63 million related to the revaluation of the Dassault Aviation equity stake. Consolidated net income(2) was € 2,635 million (9m 2020 net loss: € -2,686 million) with consolidated reported earnings per share of € 3.36 (9m 2020 loss per share: € -3.43).

Consolidated free cash flow before M&A and customer financing was € 2,260 million (9m 2020: € -11,798 million), reflecting efforts on cash containment and also included a positive phasing impact from working capital. Consolidated free cash flow was € 2,308 million (9m 2020: € -12,276 million).

On 30 September 2021, the gross cash position stood at € 21.7 billion (year-end 2020: € 21.4 billion) with a consolidated net cash position of € 6.7 billion (year-end 2020: € 4.3 billion). The Company’s liquidity position remains strong, standing at € 27.7 billion at the end of September 2021. Given the increase in the net cash position and the robust liquidity, a decision was taken not to renew the undrawn € 6.2 billion Supplemental Liquidity Line which matured in September. In the meantime, the maturity of the € 6 billion Revolving Syndicated Credit Facility has been extended by a year.

Outlook

As the basis for its 2021 guidance, the Company assumes no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services.

The Company’s 2021 guidance is before M&A.

On that basis, the Company has updated its 2021 guidance and now targets to achieve in 2021 around:

  • 600 commercial aircraft deliveries;
  • EBIT Adjusted of € 4.5 billion;
  • Free Cash Flow before M&A and Customer Financing of € 2.5 billion.
Aircraft, Aircrafts, American Airlines, plane, planes, Livery, Exterior

American Airlines Updates AAdvantage Loyalty Program

October 27, 2021 /

FORT WORTH, Texas — American Airlines (Nasdaq: AAL) is redesigning its award-winning AAdvantage® loyalty program, ridding it of complicated elite qualifying metrics for an easy-to-understand point system that provides multiple ways to earn status. In 2022, AAdvantage members can earn status by flying, using an AAdvantage credit card for purchases or spending with an AAdvantage partner.

Achieving AAdvantage status

For every qualifying AAdvantage mile earned, members will earn one Loyalty Point. Here’s how to earn points:

  • Members can earn Loyalty Points by flying on American or one of its eligible partner airlines.
  • You can also earn Loyalty Points when you use an AAdvantage credit card for purchases.
  • Don’t fly often, no problem. Join fellow AAdvantage members who will earn Loyalty Points every year just by shopping online or dining out.

AAdvantage 2022 status requirements

StatusLoyalty Points
Gold30,000
Platinum75,000
Platinum Pro125,000
Executive Platinum200,000

Extending status and a chance to double dip

To thank our members for their continued loyalty, American is extending all current members AAdvantage status through March 31, 2022.

And members can also double dip as any qualifying activity earned in January and February will count towards both 2022 and 2023 AAdvantage status. This gives members an extra two months to earn elite status for both years.

In the future, members will qualify for status from March through February, with status valid through March 31 of the following year.

Unlock Loyalty Choice Rewards

Next year, AAdvantage members can unlock Loyalty Choice Rewards, formerly called elite choice rewards. Loyalty Choice Rewards is a menu of rewards awarded to members that earn Platinum Pro status or higher and fly at least 30 flights on American or qualifying partner airlines.

Members can select the Loyalty Choice Reward they value the most, including an Admirals Club day pass, systemwide upgrades or bonus AAdvantage miles. Additional Loyalty Choice Rewards are available to unlock as members accrue more Loyalty Points.

To learn more about the AAdvantage refresh, check out aa.com/newaadvantage.

Harbour Air Seaplanes Joins Hahn Air Partner Network

September 1, 2021 /

Hahn Air welcomes Harbour Air Seaplanes in its leading partner portfolio. Its flights are available in major GDSs under the Hahn Air Technologies X1 code. Travel agents in 190 markets worldwide can book the latest Canadian partner via the standard reservation process and issue tickets on the insolvency-safe HR-169 document. 

Harbour Air Seaplanes (YB) is a Canadian seaplane airline based at Vancouver Coal Harbour airport in British Columbia. It offers scheduled flights to ten domestic destinations, including Victoria Harbour Airport (YWH), Nanaimo Harbour Water Aerodrome (ZNA) and Tofino Harbour (YTP). Its fleet consists of DHC-2’s, DHC-6-200’s, DHC-6-300 fleet aircraft as well as a Cessna Grand Caravan EX.

More information about Harbour Air Seaplanes and other Hahn Air partners is available under Partner Carriers.

About Hahn Air Lines

Hahn Air Lines is a German scheduled and executive charter airline and a member of the International Air Transport Association (IATA). Founded in 1994 at the Hahn Airport, which the airline’s name is derived from, Hahn Air Lines is today based at the German airport Dusseldorf (DUS).

Boeing Reports Second Quarter Results

July 28, 2021 /

The Boeing Company [NYSE: BA] reported second-quarter revenue of $17.0 billion, driven by higher commercial airplanes and services volume. GAAP earnings per share of $1.00 and core earnings per share (non-GAAP)* of $0.40 primarily reflects higher commercial volume and lower period costs (Table 1). Boeing recorded operating cash flow of ($0.5) billion.

“We continued to make important progress in the second quarter as we focus on driving stability across our operations and transforming our business for the future,” said Boeing President and Chief Executive Officer David Calhoun. “While our commercial market environment is improving, we’re closely monitoring COVID-19 case rates, vaccine distribution and global trade as key indicators for our industry’s stability. As we continue to position for a robust recovery, we remain committed to safety and quality, while investing in our people, products and technology. I am proud of our team’s resilience and commitment as we work to rebuild trust, improve our performance and deliver for our commercial, defense, space and services customers.”

As part of Boeing’s ongoing focus on global sustainability, the company published its first integrated Sustainability Report in July. “This was an important step in our continued efforts to reinforce our Environmental, Social, and Governance principles,” Calhoun said.

Click the link below to read the full press release!

https://boeing.mediaroom.com/2021-07-28-Boeing-Reports-Second-Quarter-Results

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