A sustained rebound in domestic travel demand, and the performance of its Freight and Loyalty divisions, continues to drive the Qantas Group’s recovery from the impacts of COVID-19.
Based on current trading conditions the Group expects to be statutory free cash flow positive for the second half of FY21. Net debt levels peaked in February at $6.4 billion and are expected to be lower than they were in December ($6.05 billion) by the end of the financial year.
Liquidity levels remain strong with total funds of $4.0 billion, including cash of $2.4 billion and $1.6 billion of undrawn debt facilities as at 30 April 2021.
The total revenue loss for the Group since the start of COVID is now projected to reach $16 billion by the end of FY21 – however the role of domestic travel demand in the Group’s recovery is highlighted by the fact revenue from domestic flying is expected to almost double between the first and second half of this financial year.
Assuming no further lockdowns or significant domestic travel restrictions, the Group expects to be Underlying EBITDA positive in the range of $400 – 450 million for FY21. At a statutory level before tax, the Group is still expecting a loss in excess of $2 billion, which includes the significant costs associated with previously announced redundancies, aircraft write downs and non-cash depreciation charges.
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Toulouse, France, 18 March 2021 – A team of aerospace specialists has launched the world’s first in-flight emissions study using 100% sustainable aviation fuel (SAF) on a wide-body commercial passenger aircraft. Airbus, German research centre DLR, Rolls-Royce and SAF producer Neste have teamed up to start the pioneering ‘Emission and Climate Impact of Alternative Fuels’ (ECLIF3) project looking into the effects of 100% SAF on aircraft emissions and performance.
Findings from the study – to be carried out on the ground and in the air using an Airbus A350-900 aircraft powered by Rolls-Royce Trent XWB engines – will support efforts currently underway at Airbus and Rolls-Royce to ensure the aviation sector is ready for the large-scale use of SAF as part of the wider initiative to decarbonise the industry.
A team of aerospace specialists has launched the world’s first in-flight emissions study using 100% sustainable aviation fuel (SAF) on a wide-body commercial passenger aircraft.
Fuel-clearance engine tests, including a first flight to check operational compatibility of using 100% SAF with the aircraft’s systems, started at Airbus’ facilities in Toulouse, France, this week. These will be followed by the ground-breaking flight-emissions tests due to start in April and resuming in the Autumn, using DLR’s Falcon 20-E ‘chase plane’ to carry out measurements to investigate the emissions impact of using SAF. Meanwhile, further ground tests measuring particulate-matter emissions are set to indicate the environmental impact of SAF-use on airport operations.
Both the flight and the ground tests will compare emissions from the use of 100% SAF produced with HEFA (hydroprocessed esters and fatty acids) technology against those from fossil kerosene and low-sulphur fossil kerosene.
The SAF will be provided by Neste, a leading worldwide supplier of sustainable aviation fuel. Additional measurement and analysis for the characterisation of the particulate-matter emissions during the ground testing will be delivered by the UK’s University of Manchester and the National Research Council of Canada.
Rolls-Royce (OTC: RYCEY) has signed a TotalCare® agreement with new customer Uganda Airlines for their two new Airbus A330neo aircraft powered exclusively by Rolls-Royce Trent 7000 engines. Uganda Airlines received the first A330neo in December 2020 and the second in January 2021.
TotalCare® offers more than just an engine maintenance plan; it is a service concept based upon predictability and reliability. This agreement will give Uganda Airlines a secured cost of operating and maintaining their Trent 7000 engines, through a dollar-per-flying-hour payment mechanism, as well as enhanced aircraft availability as a result of our in-depth engine knowledge that only we can provide, drawing on advanced engine health monitoring and the inclusion of product durability and reliability improvements.
The exclusive engine for the A330neo, the Trent 7000 is the seventh and latest member in the Trent family of engines, which recently celebrated its 25th birthday and has accumulated more than 150 million engine flying hours. The Trent 7000, which first entered service in November 2018, draws on more than 50 million flying hours of experience from the Trent 700, the engine of choice for the original version of the A330. The 68-72,000lb thrust Trent 7000 helps the A330neo reduce environmental impact with a 25% improvement in fuel burn per seat (compared to previous generation competitor aircraft) and a significant noise reduction.
Cornwell Muleya, CEO of Uganda Airlines, said: “We are proud to include our new Rolls-Royce powered Airbus A330neos into our fleet and this agreement will ensure that our Trent 7000 engines will be maintained to world-leading levels of service.”
John Kelly, Senior Vice President Customers, Rolls-Royce, said: “Our TotalCare agreement will ensure Uganda Airlines, the latest member of the family of Trent operators, receives our flagship standard of service, maximising aircraft availability and the ability to plan forward financially.”
SAS has selected CFM International LEAP-1A engines to power its new fleet of 35 A320neo family aircraft ordered in 2018. This agreement also includes eight spare engines. In addition, SAS has signed with CFM a Rate-Per-Flight-Hour (RPFH) support agreement to cover its new fleet of LEAP-1A engines, including spares, as well as 15 additional LEAP-1A-powered A320neo on lease.
This new agreement is part of SAS’ fleet upgrade program that aims to improve efficiency and sustainability performances. SAS has been at the forefront of introducing technologies that reduce the impact of aviation on the environment, as well as choosing efficient engines to power its fleet.
SAS was a launch customer for CFM’s advanced LEAP-1A engine that it selected in 2011 to power the first batch of 30 A320neo. SAS currently operates 44 A320neo aircraft and 1 A321neo LR powered by the fuel-efficient LEAP engine and plans to introduce two additional A321neo LR.In total SAS orders for purchased and leased aircraft placed in 2011 and 2018 will enable SAS to increase the fleet of A320neo to 80.
CFM International’s advanced LEAP-1A engine continues to set a new industry standard for fuel efficiency and asset utilization, logging more than seven million engine flight hours in commercial operations. The fleet is demonstrating a 15 percent better fuel consumption and CO2 reductions as well as a significant improvement in noise emissions compared to the best CFM56 engines.
MCLEAN, Virginia – Hilton Worldwide Holdings Inc. (“Hilton” or the “Company”) (NYSE: HLT) today reported its fourth quarter and full year 2020 results. The following results reflect the material impact that the novel coronavirus (“COVID-19”) pandemic has had on Hilton’s business. Highlights include:
Diluted EPS was $(0.80) for the fourth quarter and $(2.56) for the full year, and diluted EPS, adjusted for special items, was $(0.10) for the fourth quarter and $0.10 for the full year
Net loss was $225 million for the fourth quarter and $720 million for the full year
Adjusted EBITDA was $204 million for the fourth quarter and $842 million for the full year
System-wide comparable RevPAR decreased 59.2 percent and 56.7 percent on a currency neutral basis for the fourth quarter and full year, respectively, from the same periods in 2019
Approved 18,700 new rooms for development during the fourth quarter, bringing Hilton’s development pipeline to 397,000 rooms as of December 31, 2020
Opened 22,900 rooms in the fourth quarter, reaching the one million room milestone and contributing to 47,400 net additional rooms in Hilton’s system for the full year, which represented approximately 5.1 percent net unit growth from December 31, 2019
As of February 10, 2021, 97 percent of Hilton’s system-wide hotels were open
In December 2020, issued $1.9 billion of senior notes consisting of: (i) $800 million aggregate principal amount of 3.750% Senior Notes due 2029 and (ii) $1.1 billion aggregate principal amount of 4.000% Senior Notes due 2031; and used the net proceeds to redeem: (i) $1.0 billion in aggregate principal amount of outstanding 4.250% Senior Notes due 2024 and (ii) $900 million in aggregate principal amount of outstanding 4.625% Senior Notes due 2025
In January 2021, repaid $250 million of the outstanding debt balance under the $1.75 billion senior secured revolving credit facility
In February 2021, issued $1.5 billion aggregate principal amount of 3.625% Senior Notes due 2032 and used the net proceeds to redeem $1.5 billion in aggregate principal amount of outstanding 5.125% Senior Notes due 2026
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Battery-powered tram offers major benefits of requiring no overhead wires or other electrified infrastructure – saving on costs and visual impact
On-board batteries allow energy to be additionally recovered during breaking
Trial in Florence aims to allow mobility firm to offer battery-trams globally
Tram adds to the growing list of battery products being developed as Hitachi puts decarbonisation and sustainability at the heart of its global strategy
Hitachi Rail has successfully tested its first battery-powered tram in Florence – an important milestone towards expanding the firm’s offer to market the vehicles across the world.
While traditional tram lines require electrified infrastructure – usually overhead wires supported by poles or pylons – that are expensive to install and visually unattractive. Battery trams offer the opportunity to run high capacity public transport through city centres, while saving millions on installing wires and reducing the visual impact on beautiful historic streets, like Florence.
The trial involves installing battery packs on an existing Hitachi-built Sirio tram, which covered a section of the line under battery power. The innovation allows power to be returned to the batteries when the train breaks, reducing the overall amount of energy consumed and protecting the environment.
This news is the latest in a number of announcements from the global mobility firm as expands its sustainability credentials and its zero-carbon offer to its customers around the world. Hitachi recently announced the trial of a battery train in the UK and delivery of hybrid trains in Italy, having built one of the world’s first battery powered train fleets that operates in Japan.
Hitachi has a rich heritage of building trams and tramways in Europe and in Asia, and is involved in new tram and metro infrastructure projects in the Americas and in the UK.
Andrea Pepi, Head of Sales and Projects Italy, Hitachi Rail said: “Our aim is to use our technology and our work to help build a sustainable society and contribute to the well-being of people around the world by improving their quality of life.”
“This is a key milestone as we pioneer this new technology that allow us to work with our customers to reduce infrastructure costs while still offering environmentally-friendly public transport. We hope this successful trial in Italy creates new opportunities for us across the world.”
The Mayor of Florence, Dario Nardella said: “We are happy that Hitachi Rail has chosen the tramway in Florence to test this innovation. Battery-powered trams can revolutionize this type of service within cities. Public transport, especially in historic centers, will have to be less impactful and increasingly sustainable. This marks another significant step forward for the tramways in Florence.”
Talgo has announced the timetable for the manufacture and launch of its hydrogen train, a green, innovative and efficient alternative to replacing diesel engines, which will be ready in 2023. The train will be named Talgo Vittal-One, as a reference to the place of the hydrogen in the periodic table, the first one. The details were presented during the event “Renewable hydrogen: an opportunity for Spain”, organised by the Spanish Ministry for the Ecological Transition and the Demographic challenge.
The first phase of the validation tests of the hydrogen technology will be conducted in 2021. After the validation process, the hydrogen technology will be installed in the new train during a second manufacturing phase that will take place between 2021 and 2023.
The company’s CEO, José María Oriol, stated during his presentation: “Green hydrogen is no longer the future, it is a reality. The implementation of hydrogen trains, such as the one Talgo is developing, will improve mobility in our country and have a positive impact on the environment. It will allow us to make the most of the non-electrified Spanish railways while reducing our carbon footprint”.
This system is configured as a modular solution that can be installed on all types of trains, as well as in upgrades from diesel to hydrogen. However, it has been specifically designed for the Vittal platform for Commuter and Regional trains, which Talgo has presented in the bidding process for various tenders in Spain and other countries.
On behalf of EVA Air, we offer our sincere apology to frontline epidemic prevention teams, health-care workers and the general public for the impact on public epidemic prevention efforts our dismissed pilot’s regulation violations have caused.
We treat all our employees equally and apply the same standard to each and everyone who works at EVA, no matter what rank or title. If anyone is found to have violated epidemic prevention rules, we will immediately investigate and take disciplinary action if it’s warranted.
On December 23, 2020, after a thorough evaluation of facts and evidence, EVA’s Disciplinary Committee dismissed a Captain for violating epidemic prevention rules and filing an untruthful report. He disregarded Taiwan Civil Aeronautics Administration and Ministry of Transportation and Communications (MOTC) Operational Principles, requiring Air Crew Members of Taiwan-based airlines to comply with health controls in addition to Article 43, Paragraph 2 of the Communicable Disease Control Act, stating “relevant personnel shall not refuse, evade or obstruct the laboratory testing, diagnosis, investigation…, jeopardizing the good name and reputation of the company.”
The dismissed pilot’s irresponsible disregard for the well-being of First Officers in the cockpit with him, ground crew and others he came in contact with also meets criteria for disciplinary termination under Article 12, Paragraph 1, Subparagraph 4 of Taiwan’s Labor Standards Law. Following Articles 13.3.6 and 14.3 of its Pilot Administration Manual, EVA’s Disciplinary Committee made a unanimous decision to terminate the pilot, effective immediately.
The dismissed pilot failed to mention his own noncompliance or epidemic prevention rule violations by any other crew member in reports he submitted for the cargo flights he commanded. On the evening of December 17, a female First Officer who had flown with the dismissed pilot notified EVA that she had been diagnosed with COVID-19 and mentioned that the dismissed pilot had not worn a mask when they were on duty in the cabin. Following Central Epidemic Command Center guidelines, we began investigating the dismissed pilot on December 18. Another First Officer who had flown with the dismissed pilot tested positive for COVID-19 on December 19. EVA contacted both First Officers to ensure their wellbeing and verify details of the situation. The First Officers confirmed that the dismissed pilot had not worn masks when he was on duty in the cockpit with them though he was asked to do so. The EVA Disciplinary Committee considered this information within the evidence they reviewed.
The dismissed pilot is from New Zealand, the female First Officer is Taiwanese and the other First Officer, Japanese.
We also immediately began improving our epidemic prevention practices and management procedures. For example, we established more rigorous rules for crew members when they collect food during overseas layovers in hotels. We now require everyone to wear masks, goggles and gloves when they receive food. During flights, only one pilot at a time can remove his or her mask to eat or drink. We equipped our dormitories with new door locks that record all entries and exits. We also created a new reporting mechanism to make it easy for employees to report violations they may witness, regardless of the offender’s position in the company. EVA will investigate all reports of violations and take disciplinary action whenever it is warranted.
EVA strictly complies with all government epidemic prevention policies and requires all crew members and staff to follow applicable rules. Unfortunately, one irresponsible employee’s thoughtless behavior spoiled the hard-earned success that other EVA pilots, crew members and staff have worked so hard to achieve. While EVA does not ever cut corners in practices or procedures, this situation exposed vulnerabilities in our epidemic prevention efforts. We met with Taiwan’s Central Epidemic Command Center and Civil Aeronautics Administration to discuss additional measures we can take to make our operations more secure. And we will use what we learned from this situation as we continue to do our best to strengthen and improve our epidemic prevention practices and management procedures.
Belavia, Belarusian Airlines, the national carrier of Belarus, took delivery today of their first E2 next generation Embraer aircraft in Brazil. The new aircraft is the first of three E195-E2 jets to be leased to the airline by AerCap.
The aircraft, configured in a comfortable dual class layout seating 125 passengers in total, seats 9 in business and 116 in economy. Belavia plans to deploy their new aircraft on popular routes such as London, Barcelona, Nur-Sultan, Munich, Paris, Sochi, and Amsterdam.
“Belavia’s passengers love our current Embraer aircraft and I hope they will love the next generation E2 even more. The E2 offers Belavia lower operating costs, as well as the lowest impact on the environment. At Belavia we like to keep our fleet young and fresh; with the addition of the E195-E2 we can take more passengers, further, in greater comfort, and more efficiently – the E2 is the perfect fit”, commented Anatoly Gusarov, CEO of JSC “Belavia”.
“It’s great to welcome another airline to the E2 family of operators. As airlines’ ramp up their operations, the E195-E2 is perfectly positioned to right size routes previously operated by narrowbodies, while keeping frequencies and adjusting capacity to new levels,” said Cesar Pereira, vice president of Europe, Middle East and Africa, Embraer Commercial Aviation. “We look forward to supporting Belavia as they continue to upgrade their offering to their customers.”
“We congratulate the team at Belavia on the delivery of their first E195-E2,” said Philip Scruggs, President and Chief Commercial Officer at AerCap. “We wish Belavia every success as they continue to modernize their fleet.”
