Tag: Netherlands (Page 2 of 4)

Airbus Reports Third Quarter 2021 Results

October 28, 2021 / WIL BALDWIN

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.

Airbus Built European Robotic Arm Ready for Space

July 5, 2021 / WIL BALDWIN

Airbus (OTC: EADSY) space engineers have installed ESA’s European Robotic Arm (ERA) onto the Russian Multipurpose Laboratory Module (MLM) and it is now ready for its flight to the International Space Station (ISS). Together with this module, known as ‘Nauka’, ERA and its two control stations will launch from the Baikonur Cosmodrome, in Kazakhstan, on a Proton rocket.

After a one-week journey the European Robotic Arm will arrive at the ISS, where it will service the Russian segment of the space station. With a total length of 11.3 metres, the symmetrical, two-handed intelligent robot arm can ‘walk’ around the exterior of the ISS, hand-over-hand from one fixed base-point to another. ERA’s seven robust and accurate joints, the lightweight limbs and the control computer in the middle of the arm give the robot arm its versatility.

Astronauts and cosmonauts can control the European Robotic Arm in real-time or pre-programme it from inside or outside of the ISS, to make it move payloads, inspect the space station with its infrared cameras and to support operations outside the ISS. From its tip, the robot provides electrical power, a data bus, a video line and a rotating drive machine. By connecting a tool to the tip, ERA can be equipped for one of the many tasks it can perform automatically or semi-automatically. ERA has a lightweight construction but thanks to the zero-gravity conditions in space, it can move very large masses: from 3,000 kg routinely up to 8,000 kg in slow modus. The robot arm operates with an accuracy of 5 millimetres.

ERA has been developed for European Space Agency (ESA) by a European consortium, led by Airbus Defence and Space in the Netherlands. Airbus designed the arm and its software functions, managed the development of subsystems throughout Europe and integrated and tested the system. In the last few months Airbus has integrated ERA on the MLM, together with ESA and Russian partners RSC/Energia.

Talgo Begins Rail Test for Very High-Speed Avril Train

February 6, 2021 / WIL BALDWIN

The first unit of the very high-speed train Talgo Avril began its first rail tests this week, a decisive step in the technical homologation, prior to its commercial circulation by Spanish operator Renfe. This is the final phase in the manufacturing process of 30 units of the Talgo Avril, which has a passenger capacity of up to 581 seats.

The rail tests are aimed at checking the dynamic behaviour of all the elements of the train, and in particular the running gear systems, under progressively more complex operating conditions and up to the speed required for technical homologation of over 360 km/h. Its maximum commercial speed will be 330 km/h.

The homologation tests are planned to be carried out for several weeks on the Madrid-Galicia high-speed rail line, although they could be extended to other parts of the railway network in Spain at a later stage.

Lighter, more sustainable and accessible

Talgo Avril is Talgo’s most advanced very high-speed train, which will become a benchmark of quality in the very high-speed rail segment. Thanks to their high capacity and light overall weight, the Avril trains acquired by Spanish operator Renfe minimise energy consumption and multiply efficiency. This allows them to reduce greenhouse gas emissions and further enhance the position of rail as the most sustainable means of transport.

One of the outstanding features of this latest generation train is that its composition of 12 passenger carriages and 200 metres long are located on a single deck and at the station platform level, allowing passengers to access the train and move around inside it without steps or ramps. Talgo’s unique accessibility not only facilitates access for people with reduced mobility, but also offers an easy journey for all passengers, from parents with prams to passengers with bulky luggage or bicycles.

New routes, new markets

Talgo Avril is part of a highly flexible technological platform that allows each delivery to be adapted to the increasingly complex needs of the European rail market. In this particular contract, the 30 trains supplied are divided into different blocks according to their internal commercial configuration, their automatic variable-gauge system (Iberian and international), and their equipment to be operated north of the Pyrenees. Thanks to these capacities, Talgo Avril will be able to be used on practically the entire Iberian electrified rail network, bringing even closer those destinations to which the new high-performance rail network has not yet been extended, as well as in international relations between Spain and France.

The interoperability of Talgo trains is one of their most distinctive features, and this has led them to be used on commercial routes throughout Europe: France, Switzerland, Italy, Portugal, Russia, Belarus and Poland. The Spanish manufacturer has also recently been awarded new contracts to supply trains to the European operator Deutsche Bahn, which will connect Berlin (Germany) with Amsterdam (Netherlands) and to the Danish company DSB, to link Copenhagen (Denmark) with the German port of Hamburg.

Air Malta Launches Lifeline Schedule as Europe COVID-19 Situation Worsens

January 15, 2021 / WIL BALDWIN

Air Malta has launched its second ‘lifeline schedule’, following the worsening of the COVID-19 pandemic all over Europe. The schedule, intended to ensure essential passenger and cargo connectivity to and from the Maltese Islands to key airports, will commence on Wednesday 27th January.

For now, the lifeline schedule is being introduced until the end of February, however, following evaluations in the coming weeks on developments throughout Europe, Air Malta will consider whether to extend it further.

The National Airline has been at the forefront in efforts to ensure essential passenger connectivity to selected major European cities as well as a continuous connectivity for cargo, mail and essential medical supplies including the COVID-19 vaccine and other resources that are critical to the Islands’ supply chain. It is intended to guarantee peace of mind and stability for the Islands during these uncertain and testing times.

Air Malta will be operating 19 weekly return flights to eight destinations: Amsterdam, Brussels, Catania, Frankfurt, London Heathrow, Paris Charles De Gaulle, Rome and Zurich with the below schedule:

The Airline will continue making changes to its flight schedule to maximize capacity whilst ensuring connectivity.

Emirates SkyCargo Introduces Airbus A380 ‘Mini-Freighter’ Charter Operations

November 12, 2020 / WIL BALDWIN

– Air cargo carrier responding to market demand for additional cargo capacity

– Demonstrates agility and innovation in business response to the pandemic

Emirates SkyCargo has started utilising its Airbus A380 aircraft on select cargo charter operations to transport urgently required cargo across its network. The first dedicated Emirates A380 ‘mini-freighter’ successfully transported medical supplies between Seoul and Amsterdam via Dubai.

Working collaboratively with the Engineering and Flight Operations teams within Emirates, the air cargo carrier has optimised the cargo capacity of the Airbus A380 to safely transport around 50 tonnes of cargo per flight in the bellyhold of the aircraft.

Emirates SkyCargo has introduced dedicated cargo operations on the A380 aircraft in response to the surge in the demand for air cargo capacity required for the urgent transportation of critical goods, including medical supplies for combatting COVID-19 in regions experiencing a second wave of the pandemic.

Emirates SkyCargo is working on further optimising the capacity of its Airbus A380 aircraft through measures such as seat loading of cargo and has planned more dedicated cargo flights on aircraft for the month of November.

A leading player in the global air cargo industry with a destination network spread across six continents, Emirates SkyCargo has continued to introduce innovative cargo solutions in line with rapidly evolving market conditions since the start of the COVID-19 pandemic.

The freight division of Emirates offers a variety of options for cargo capacity and connectivity to best match its customers’ requirements. Emirates SkyCargo operates dedicated cargo flights on its Boeing 777-F and its Boeing 777-300ER aircraft including 14 modified Boeing 777-300ER passenger aircraft with seats removed from Economy Class for additional cargo volume.

Through its responsiveness and agility, the air cargo carrier has been able to maintain the flow of essential goods and trade across international markets during the pandemic, often providing a much required helpline to communities around the world.

Taking a lead in the supply chain for the global distribution of a COVID-19 vaccine, Emirates SkyCargo announced recently that it set up the world’s largest EU GDP compliant airside hub in Dubai dedicated for the COVID-19 vaccine. In addition to world-class fit for purpose infrastructure for the storage of the vaccine, the facility would also be able to offer value added services such as repackaging, re-icing and redistribution of the vaccine. The air cargo carrier has also set up a rapid response team to coordinate requests for the movement of the vaccine.

Emirates SkyCargo currently offers cargo capacity on scheduled flights to 135 destinations across the world.

Boeing Built Space Force Satellite Passes Design Review

October 10, 2020 / WIL BALDWIN

Boeing [NYSE: BA] and the U.S. Space Force successfully completed the first major engineering design review for the Wideband Global SATCOM (WGS)-11+ communications satellite. This successful review demonstrates that Boeing is ready to proceed to the final system design phase. Production will begin next year at Boeing’s El Segundo factory, with delivery scheduled for 2024.

WGS-11+ features a modern digital payload that performs at twice the operational capability of its predecessors, increasing the availability of military-grade communications. Leveraging advances in Boeing commercial technologies, it will provide secure communications to connect U.S. and allied forces globally.

The current WGS constellation, consisting of 10 satellites, is the backbone of the U.S. military’s global communications system, providing flexible, high data-rate connectivity. Users include all U.S. military services, the White House Communications Agency, the U.S. State Department and international partners.

“Completing this engineering design review is a key milestone and brings us one step closer to delivering this groundbreaking satellite to the warfighter in record time, significantly improving capacity and coverage to our soldiers, sailors, airmen, Marines and allies,” said Col. John Dukes, chief of the Geosynchronous/Polar Division at Space and Missile Systems Center Production Corps.

“WGS-11+ uses narrower spot beams to deliver a stronger, more reliable connection exactly where it’s needed, which means better performance and greater flexibility than ever before,” said Troy Dawson, vice president of Boeing Government Satellite Systems.

In addition to U.S. military forces, the WGS constellation provides service to international partners including Australia, Canada, Denmark, Luxembourg, New Zealand, the Netherlands, the Czech Republic and Norway.

NATO Support & Procurement Orders Additional Airbus A330

October 5, 2020 / WIL BALDWIN

Airbus has received a firm order for an Airbus A330 MRTT Multi-Role Tanker Transport from OCCAR, Europe’s organisation for the management of cooperative armament programmes.

The order, which OCCAR has placed on behalf of NATO’s Support & Procurement Agency (NSPA), follows the decision from Luxembourg to maximize its participation into the Multinational MRTT Fleet (MMF) programme with a significant increase from 200 to 1,200 the number of flight hours contracted. The aircraft is part of the three additional options originally included in the contract and will increase the MMF fleet to nine aircraft.

This new order comes after the successful delivery of the first two aircraft, with training and operational activities already in place. The additional aircraft will provide greater availability of the MMF fleet, enabling other NATO nations to cover their needs in air-to-air refuelling, strategic transport and medical evacuation.

The MMF programme is funded by the Netherlands, Luxembourg, Norway, Germany, Belgium and Czech Republic who have the exclusive right to operate the NATO–owned aircraft in a pooling arrangement, a prime example of European operational defence collaboration. The aircraft will be configured for in-flight refuelling, the transport of passengers and cargo, and medical evacuation operations.

The European Defence Agency (EDA) initiated the MMF programme in 2012. OCCAR manages the MMF acquisition phase as Contract Executing Agent on behalf of NSPA. Following the acquisition phase, NSPA will be responsible for the complete life-cycle management of the fleet.

The A330 MRTT combines the advanced technology of a new generation tanker with the operational experience recorded during more than 200,000 FH in service. The A330 MRTT is interoperable with receivers worldwide and delivers true multi-role capabilities as proven during the recent MEDEVAC and strategic transport missions related to the COVID-19 pandemic.

Canada's CH-147F Chinook makes its 1st flight

Boeing, Honeywell and Rolls-Royce Deutschland Partner to Service Chinook Engines

September 19, 2020 / WIL BALDWIN

Boeing [NYSE: BA], Honeywell Aerospace and Rolls-Royce Deutschland Ltd. have reached an agreement to provide in-service support of the T-55 engine should the government of Germany select the H-47 Chinook for its Schwerer Transporthubschrauber (STH) heavy-lift helicopter requirement.

Since the forming of the Chinook Germany Industry Team in 2018, originally comprised of nine German companies, Boeing continues to build a strong industry team to provide the Luftwaffe with local long-term services support, maintenance and training of the Chinook over the next several decades. In addition, Boeing’s industrial plan will foster German economic growth while creating highly skilled jobs in country.

“The partnership between Honeywell, Rolls-Royce Deutschland and our industry team members provides an established local supply base for around-the-clock parts availability, NATO interoperability and streamlined aircraft maintenance procedures,” said Michael Hostetter, vice president of Boeing Defense, Space & Security in Germany. “The Luftwaffe will have access to training and sustainment solutions that ensures the H-47 Chinook’s readiness for any mission.”

Under the agreement, Honeywell will license Rolls-Royce Deutschland as its partner in Germany to perform depot-level maintenance of the Chinook T-55 engine operated by the Luftwaffe.

Our partnership with Boeing and Rolls-Royce Deutschland will provide the Luftwaffe with access to a world-class maintenance and repair and overhaul facility for the T-55 in Germany. The in-country location will also ensure fast and flexible reactions to cater to the demanding needs of the Luftwaffe.

The H-47 Chinook is the most advanced transport rotorcraft in the United States Army inventory. With a proven track record of performance and versatility unmatched by any other heavy-lift aircraft, the Chinook provides Germany with the most modern, affordable solution ready to operate today. As chosen by NATO nations Canada, Greece, Italy, Spain, Turkey, the Netherlands, the United Kingdom and the United States, the Chinook gives Germany interoperability that other helicopters cannot while meeting a wide range of mission needs.

Boeing has an established and growing presence in Germany. The company is a strong contributor to the German economy with more than 1,000 employees at 11 sites from Hamburg to Munich and sustains thousands of additional jobs through its supply chain and other activities. Boeing and its supply-chain partners spend almost $1.2 billion a year with its established network of suppliers located across Germany. Germany is a key market for Boeing to invest in research and technology partnerships. Boeing has established two research sites in Germany, the Research & Technology Office in Munich and the Digital Solutions & Analytics Lab Frankfurt and invests in a growing portfolio of research and technology projects with German industry, universities and research organizations.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 160,000 people worldwide and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

Air France-KLM’s Future in Doubt Without Cost Cuts – Dutch minister

September 13, 2020 / WIL BALDWIN

AMSTERDAM (Reuters) – Air France-KLM <AF.PA> might not survive its current crisis if the airline group cannot lower its costs, Dutch Finance minister Wopke Hoekstra said on Sunday.

“The survival of Air France-KLM is not a given,” Hoekstra said in an interview on Dutch public television.

“They will have to address their cost base even as things stand now. And suppose this situation lasts until the end of next year, then they will have to cut even deeper.”

Air France-KLM’s immediate future was secured by the French and Dutch governments in July, as they provided a total of 10.4 billion euros ($12.3 billion) in bailout loans and guarantees to help the group survive the disastrous effects of the COVID-19 pandemic on air travel.

In return for the support, Dutch arm KLM has said it would cut another 1,500 jobs, reducing its staff by 20%, while a pay hike agreed for 2020 was frozen by the company.

French arm Air France plans to cut 6,500 jobs, or 16% of its workforce, through 2022.

So far, however, KLM has failed to reach an agreement with unions on the cuts needed to meet the requirements set by the Dutch government.

Hoekstra indicated a thorough restructuring would be necessary for governments to contemplate further support.

“KLM will always be very important for the Dutch economy. But the question is whether that will be enough”, he said.

Air France-KLM said last month that it was losing 10 million euros per day due to the coronavirus crisis.

(Reporting by Bart Meijer; Editing by Susan Fenton)

Morocco Orders 24 Boeing AH-64E Apache Helicopters

June 26, 2020 / WIL BALDWIN

Deliveries are expected to begin in 2024

Morocco is the 17^th country to acquire the Boeing AH-64 Apache through a contract for 24 of the helicopters that was recently signed.

Boeing has delivered nearly 2,500 Apache helicopters to 16 nations to date, including the U.S., Netherlands, Greece, United Kingdom, Japan, India, Singapore, South Korea and Saudi Arabia. Deliveries to Morocco are expected to begin in 2024.

“This is another step forward in our long partnership with the Kingdom of Morocco,” said Jeff Shockey, vice president, Global Sales and Marketing, Boeing Defense, Space & Security and Government Services. “Worldwide demand for the Apache is growing and we are proud to provide this best-in-class capability to Morocco.”

The AH-64E Apache is the latest configuration of the attack helicopter. It is designed and equipped with an open systems architecture including the latest communications, navigation, sensor and weapon systems. It has an improved Modernized Target Acquisition Designation System that provides day, night and all-weather target information, as well as night vision navigation capability. In addition to classifying ground and air targets, the Fire Control Radar has been updated to operate in a maritime environment.

Boeing will build and deliver the new Moroccan Apaches under a contract with the U.S. Army through the U.S. government’s Foreign Military Sales process.

Boeing’s partnership with Morocco spans decades. The company is committed to developing Morocco’s supply chain and future workforce. Boeing is a partner of the MATIS Aerospace joint venture, which produces airplane wire bundles and harnesses. In 2016, the company signed a Memorandum of Understanding with the Kingdom to create an ecosystem of aircraft equipment suppliers. Boeing also supports the country’s future workforce through partnerships with Education for Employment (EFE) Morocco and the INJAZ Al-Maghrib association.

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