Tag: recovery (Page 2 of 5)

Boeing Company Announces Second Quarter Deliveries

July 13, 2021 / WIL BALDWIN

The Boeing Company [NYSE: BA] announced today major program deliveries across its commercial and defense operations for the second quarter of 2021.

“We continue the work to deliver on our commitments to our commercial, defense, space and services customers, while positioning our business for a stable and strong recovery from the pandemic. In the second quarter, we made progress in safely returning the 737 MAX to service in more international markets and increasing the pace of 737 deliveries,” the company said.

As Boeing has previously shared, the company has been engaged in detailed discussions with the FAA on verification methodology for 787 fuselages, and conducting associated inspections and rework. In connection with these efforts, the company has identified additional rework that will be required on undelivered 787s. Based on our assessment of the time required to complete this work, Boeing is reprioritizing production resources for a few weeks to support the inspection and rework. As that work is performed, the 787 production rate will temporarily be lower than five per month and will gradually return to that rate. Boeing now expects to deliver fewer than half of the 787s currently in inventory this year.

“We will continue to take the necessary time to ensure Boeing airplanes meet the highest quality prior to delivery. Across the enterprise, our teams remain focused on safety and integrity as we drive stability, first-time quality and productivity in our operations,” the company added.

Major program deliveries during the second quarter were as follows:

Major Programs	2nd Quarter 2021	Year-to- Date 2021

Commercial Airplanes Programs
737	50		113
747	1		2
767	8		13
777	8		14
787	12		14
Total	79		156

Defense, Space & Security Programs
AH-64 Apache (New)	6		15
AH-64 Apache (Remanufactured)	16		31
CH-47 Chinook (New)	3		6
CH-47 Chinook (Renewed)	1		4
F-15 Models	5		8
F/A-18 Models	7		11
KC-46 Tanker	2		4
P-8 Models	3		6
Commercial and Civil Satellites	—		—
Military Satellites	—		—

Note: Delivery information is not considered final until quarterly financial results are issued.

SMBC Aviation Capital Orders 14 Additional Boeing 737 MAX Jets

May 25, 2021 / WIL BALDWIN

SEATTLE, May 25, 2021 /PRNewswire/ — Boeing [NYSE: BA] and SMBC Aviation Capital today announced the lessor is positioning its portfolio for air traffic recovery by ordering 14 additional 737-8 jets, growing its 737 MAX portfolio. The new order comes as airlines prepare for a robust return to air travel and modernize their narrowbody fleets to reduce fuel use and carbon emissions.

The new purchase builds SMBC Aviation Capital’s 737 MAX portfolio to 121 jets, expanding their investment in Boeing’s single-aisle family. SMBC Aviation Capital also continues to incorporate new 737 MAX airplanes into the global fleet. In the first quarter of 2021, the lessor delivered 13 737-8s to customers, including 11 planes to Southwest Airlines in the U.S. and two planes to TUI in Europe.

The SMBC Aviation Capital purchase follows recent orders and commitments from Alaska Airlines, Southwest Airlines and United Airlines. The total number of gross orders and commitments for the 737 MAX this year now exceeds 250 airplanes.

A member of the 737 MAX family, the 737-8 is designed to offer more fuel efficiency, reliability and flexibility in the single-aisle market. The 737-8 can fly 3,550 nautical miles – about 600 miles farther than its predecessor – allowing airlines to offer new and more direct routes for passengers. Compared to the airplanes it replaces, the 737-8 also delivers superior efficiency, reducing fuel use and CO2 emissions by 16% and also reducing operating costs.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future and living the company’s core values of safety, quality and integrity.

Qantas Group Announces its Balance Sheet Repair is Underway

May 19, 2021 / WIL BALDWIN

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.

Click the link below to read the full press release!

https://www.qantasnewsroom.com.au/media-releases/7978/

Dubai Aerospace Enterprise Orders 15 Boeing 737 MAX Jets

April 20, 2021 / WIL BALDWIN

SEATTLE, April 20, 2021 /PRNewswire/ — Boeing [NYSE: BA] and Dubai Aerospace Enterprise (DAE) today announced the aircraft lessor is growing its 737 MAX portfolio with an order for 15 737-8 jets. DAE had been investing in the 737 MAX by buying jets from existing customers and leasing them back to the carriers. The new order is DAE’s first direct 737 MAX purchase from Boeing as it modernizes its portfolio for better economic and environmental performance.

The order will appear on Boeing’s Orders and Deliveries website once finalized.

Firoz Tarapore, Chief Executive Officer of DAE, said: “We are delighted to deepen our already strong relationship with Boeing. Including this order, we own and manage 162 Boeing aircraft. An increasing number of global aviation regulators are returning the MAX to the skies. We are confident in the success of these aircraft as domestic and regional air travel are seeing strong signs of recovery.”

The new purchase is DAE’s second investment in the 737 MAX in the past year. In the third quarter of 2020, the lessor signed an agreement with American Airlines to purchase and lease back 18 new 737-8 airplanes. Since the agreement, the lessor has delivered 17 of the jets to the U.S. carrier. DAE previously completed a similar purchase-leaseback deal with Brazilian carrier GOL for five 737-8s.

“DAE has been instrumental in helping its customers realize the operating economics and environmental performance of the 737-8. We are delighted that they have come back to add more 737 aircraft to its growth plan as it positions itself for the recovery in commercial passenger traffic,” said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. “We are honored by DAE’s trust in the 737 family and we look forward to partnering with them to serve the fleet requirements of airlines around the world.”

The 737-8 is a member of the 737 MAX family which is designed to offer more fuel efficiency, reliability and flexibility in the single-aisle market. The airplane can fly 3,550 nautical miles – about 600 miles farther than its predecessor – allowing airlines to offer new and more direct routes for passengers. Compared to the airplanes it replaces, the 737-8 also delivers superior efficiency, using 16% less fuel and significantly reducing CO₂ emissions and operating costs.

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, leveraging 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.

Dubai Aerospace Enterprise (DAE) Ltd. is a global aviation services company headquartered in Dubai. DAE serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle. DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$16 billion. DAE’s Engineering division serves customers in Europe, Middle East, Africa and South Asia from its state-of-the-art facility accommodating up to 15 wide and narrow body aircraft. It is authorized to work on 13 aircraft types and has regulatory approval from over 25 regulators globally. More information can be found on the company’s web site at www.dubaiaerospace.com.

Virgin Australia Group Outlines Growth Plans to Support Tourism Recovery

April 19, 2021 / WIL BALDWIN

BRISBANE, 15 April 2021: Virgin Australia Group has announced fast-tracked plans to acquire new aircraft, create more frontline jobs and grow its network to further support domestic tourism.

The recovery efforts include the reintroduction of 10 additional Boeing 737-800 aircraft and the planned return of more than 80 per cent of the airline’s pre-pandemic domestic capacity by mid-June. Network operational changes will also allow the airline to redeploy Boeing 737 aircraft to other parts of its network over the coming months.

After a year of rolling state-based restrictions, pent-up travel demand is supporting the launch of several new and expanded services and frequencies on key leisure and business routes. Virgin Australia Group is committed to maintaining a market share consistent with its pre-COVID position.

Commitment to Jobs

The creation of more roles at the Company will see more than 220 cabin crew return to the skies from the airline’s discontinued long-haul international, ATR regional and Tigerair Australia operations. The new recruits will join one of 15 cabin crew training schools over the next two months.

In addition, a major recruitment drive to fill more than 150 new cabin crew roles, including an expression of interest for future positions has also begun today, with applications from other Virgin Australia employee groups being assessed as a matter of priority. External expressions of interest can be made via the airline’s careers website.

Fleet and Network

The Company has finalised arrangements to re-introduce 10 Boeing 737-800 aircraft which had previously been operated by Virgin Australia, with further aircraft under investigation. The first three aircraft will join the airline’s mainline fleet this month while the remainder are set to progressively enter service by October.

The Company is finalising wet lease arrangements with Alliance Airlines to operate Fokker 100 services on behalf of Virgin Australia between Brisbane-Alice Springs and Brisbane-Mt Isa from 19 April 2021. The move will allow Virgin Australia to explore more efficient ways of managing capacity and frequencies to support choice and convenience for regional customers.

Using an Airbus A320 aircraft, Virgin Australia Regional Airlines (VARA) will also move to operate select services on mainline routes between Perth-Darwin, Perth-Broome and Perth-Adelaide from next month. These arrangements will support the redeployment of the Boeing 737 aircraft to other markets.

Between now and the June school holidays, the airline will add more than 220 return flights per week to its schedule, offering new and extended seasonal services and expanded frequencies on key business and leisure routes. Trans-Tasman services to Queenstown are set to recommence ahead of school holidays on 18 September 2021.

ATR Outlines Plan for Recovery in 2021 and Beyond

March 17, 2021 / WIL BALDWIN

Toulouse, 17 March 2021 – ATR is determined to emerge stronger from the COVID crisis by strengthening its global presence in the next decade and by continuing to offer the most sustainable and modern option for regional air travel.

In 2020, ATR was quick to react to the circumstances by supporting its customers with rapid freight conversion solutions, sanitary tutorials as well as storage and maintenance instructions. Throughout its sites, the company put in place operational and sanitary measures.

Last year, the world’s leading regional aircraft manufacturer delivered 10 aircraft and received six gross orders. Despite the unprecedented market conditions for aircraft manufacturers, 2020 saw nine new operators using ATR aircraft and 84 new routes opened. In addition, ATR operators launched services in three new countries. Last December, the first purpose-built freighter (ATR 72-600F) was delivered to FedEx.
Whilst air travel is still in its early phases of recovery, ATR has a clear and actionable plan to overcome the current challenges by continuing to pioneer sustainable and cutting-edge solutions for regional connectivity.

ATR’s plan for recovery includes:

The implementation of incremental improvements into the aircraft family, to enhance operational efficiency and reduce maintenance costs through system upgrades and state-of-the-art avionics, maintaining the competitive and environmental advantage we offer to our customers
Following the delivery of the first new purpose built freighter to FedEx, ATR is well positioned to benefit from the resilience of the cargo market, already at pre-Covid level. Air cargo is expected to double its capacity in the next 20 years, and point to point express deliveries can best be served by our aircraft
The Short Take Off and Landing variant of the ATR42-600 will open a range of opportunities in airports with airstrips between 800 and 1,000 m
Around 900 ageing regional turboprop will need to be replaced in the next years, and a more sustainable, cost-efficient and modern aircraft like the ATR can ensure profitability for its operators.

ATR has already flown with a combination of Sustainable Aviation Fuels (SAFs) and is further investigating its possibilities. To fill the gap from today until new disruptive technologies will be made available, ATR will explore new solutions to further reduce the carbon footprint of the aircraft.

The ATR joint venture was born with the mission to deliver a cost-effective, low fuel consumption aircraft that could reach small or remote airports with little infrastructure and short runways, and continue to pioneer cutting-edge technology fully oriented towards its customers’ requirements and the need to connect local communities with the global economy, healthcare, education and culture.

Qantas Starts Flights to Griffith, Australia

March 1, 2021 / WIL BALDWIN

QantasLink is today adding Griffith to its map, operating direct flights from Sydney for the first time to meet increased demand for travel within Australia. The inaugural flight QF2121 arrived in Griffith from Sydney at midday with local business and community leaders at the Airport to welcome the aircraft’s arrival. The service will operate daily with the airline’s turboprop 50-seat Q300 aircraft, adding more than 700 seats on the route each week.

Speaking from Griffith to mark the inaugural flight, QantasLink CEO John Gissing said the new route reinforced the national carrier’s commitment to supporting regional Australia. “As the national carrier, we have an important role to play in driving tourism and supporting the industry in its recovery from COVID-19. We know Australians want to travel so we’ve been looking for opportunities to support new routes where there is demand and help deliver a boost for local businesses. We’re working with tourism partners to promote the world-class wineries and fresh produce of the beautiful Riverina region to millions of our frequent flyers around the country”.

Qantas (QAN.AX) is also today launching a new regional route from Melbourne to Merimbula. Since the start of COVID-19, the Qantas Group has announced or commenced flying on 26 new routes across Australia, reflecting new travel demand patterns.

The route launch follows a new suite of initiatives introduced for customers, including a boost to flexibility allowing unlimited flight changes until at least February 2022.

In the wake of the COVID-19 pandemic, Qantas has introduced a number of initiatives improve safety and peace-of-mind when travelling domestically through its Fly Well program, including masks on board, hand sanitising stations and enhanced aircraft cleaning.

Qantas and Jetstar Plan to Resume International Flights in Late October

February 24, 2021 / WIL BALDWIN

Qantas (ASX: QAN.AX) and Jetstar are planning to restart regular international passenger flights to most destinations starting 31 October 2021 – a four month extension from the previous estimate of July, which had been in place since mid-2020.

The date change aligns with the expected timeframe for Australia’s COVID-19 vaccine rollout to be effectively complete.

Capacity will be lower than pre-COVID levels, with frequencies and aircraft type deployed on each route in line with the projected recovery of international flying. International capacity is not expected to fully recover until 2024.

The Group remains in close consultation with the Federal Government around the reopening of international borders and will keep customers updated if further adjustments are required.

Qantas is assessing the use of digital health pass apps to help support the resumption of COVID-safe international travel. The CommonPass and IATA Travel Pass smartphone apps are being trialled on the airline’s international repatriation flights.

Qantas network

Qantas is planning to resume flights to 22 of its 25 pre-COVID international destinations including Los Angeles, London, Singapore and Johannesburg from 31 October 2021.

Qantas won’t initially resume direct flights to New York, Santiago and Osaka, but remains committed to flying to these three destinations. In the meantime, customers will be able to fly to these destinations under codeshare or oneworld arrangements with partner airlines.

Jetstar network

Jetstar plans to resume flights to all of its 13 international destinations. Frequencies will be adjusted in line with the projected recovery of international flying.

Trans-Tasman

Qantas and Jetstar are planning for a significant increase in flights to and from New Zealand from 1 July 2021.

The Group has the ability to respond to travel bubbles that may open.

Additional flexibility and extension of credit vouchers

Qantas has today announced additional flexibility for international bookings to enable customers to book flights with confidence.

Qantas’ updated Fly Flexible policy (previously only available for domestic and Trans Tasman flights) now applies to international flights booked from today until at least the end of April 2021. The flight date can be changed to any available for sale at the time (up to 355 days in advance). Qantas will waive the change fee however a fare difference may apply.

Qantas has also extended credit vouchers to enable travel until 31 December 2023 on domestic or international flights, with Jetstar doing the same for vouchers issued due to COVID-19 disruptions.

Customers with international bookings impacted by cancellations will be contacted directly and offered alternatives.

U.S. Marine Corps Awards BAE Systems $184 Million for Additional ACV’s

February 14, 2021 / WIL BALDWIN

BAE Systems (OTC: BAESY) has received a $184 million contract option from the U.S. Marine Corps for more Amphibious Combat Vehicles (ACV) under full-rate production. The order demonstrates the Marine Corps’ confidence in a program that is on track to deliver this critical capability to the Marines. This contract award will cover production, fielding, and support costs for the ACV personnel carrier (ACV-P) variant. BAE Systems was awarded the first full-rate production contract option in December for the first 36 vehicles. This option on that contract increases the total number of vehicles under full-rate production to 72, for a total value of $366 million.

The ACV is a highly mobile, survivable, and adaptable platform for conducting rapid ship-to-shore operations and brings enhanced combat power to the battlefield. BAE Systems is under contract to deliver two variants to the Marine Corps under the ACV Family of Vehicles program: the ACV-P and the ACV command variant (ACV-C). A 30mm cannon (ACV-30) is currently under contract for design and development and a recovery variant (ACV-R) is also planned.

The Marine Corps selected BAE Systems along with teammate Iveco Defence Vehicles for the ACV program in 2018 to replace its legacy fleet of Assault Amphibious Vehicles (AAV), also built by BAE Systems. BAE Systems was also recently awarded an indefinite delivery indefinite quantity (IDIQ) contract worth up to $77 million for the ACV program that includes the provision of spare and replacement parts, testing equipment, and other services.

ACV production and support is taking place at BAE Systems locations in Stafford, Virginia; San Jose, California; Sterling Heights, Michigan; Aiken, South Carolina; and York, Pennsylvania.

Qantas & Japan Airlines Form Tourism Recovery Business Venture

December 27, 2020 / WIL BALDWIN

Qantas and Japan Airlines (JAL) today announced plans to form a new joint business, designed to better serve customers travelling between Australia, New Zealand and Japan and support the tourism industry’s recovery when international flying resumes.

The airlines have submitted an application for authorisation to regulators in Australia and New Zealand, with a decision expected within six months. Subject to this regulatory approval, it is anticipated that the joint business would commence operations around July 2021, when Qantas has said it expects its international network to gradually restart.

The coordination made possible through a joint business would enable Qantas and JAL to ramp up flights between Australia and Japan sooner than would otherwise be possible. The airlines have flagged an intention to launch a new route between Australia and Japan and expect to announce details once regulatory approval is received, borders open and demand returns.

Under the proposed five-year agreement, the airlines would deliver substantial benefits for customers and help accelerate the recovery of the tourism, trade and corporate travel links between Australia and Japan, including:

An expanded codeshare relationship and optimised schedules on flights between Australia and New Zealand and Japan, opening up more connections to more destinations beyond the major city gateways. Qantas customers would have access to 14 new codeshare destinations in Japan and JAL customers would have access to 15 new codeshare destinations in Australia and New Zealand.
Enhanced frequent flyer benefits for Qantas and JAL customers, including improved earn of Qantas points or JAL miles on routes under the joint business beyond what is possible today, as well as the ability to upgrade using points or miles on each other’s services.
Improvements in the customer experience, including streamlined processes for disruption management and investments in product and service inflight and on the ground, designed to better serve the carriers’ joint customers.
More premium travel opportunities, with Qantas able to offer customers a greater number of Business and Premium Economy seats on flights operated by JAL.
Coordination of pricing, schedules, sales and tourism marketing to develop new and improved travel products, delivering more choice for customers.

Qantas Group CEO Alan Joyce said the joint business would play a vital role in reviving trade links with the world’s third largest economy and deliver significant benefits for customers travelling between Australia and Japan.

“Around half a million people visited Australia from Japan in 2019. We want to see that tourism resume and grow even further by making it easier for Japanese travellers to visit,” said Mr Joyce.

“The joint business means we’ll be able to build on our existing relationship with JAL through oneworld to offer more routes, better flight connections and more benefits to frequent flyers. It also helps us diversify our portfolio of joint businesses amongst Australia’s key trading partners.

“It will be a win for our customers, a win for trade and a win for the one million people who work in tourism across Australia.”

Japan Airlines President Yuji Akasaka added: “For over 50 years, JAL and Qantas have operated flights between Japan and Australia, demonstrating our mutual commitment to support and strengthen the diplomatic relationship built by the two countries.

“We believe that a joint business with Qantas will make for a quicker recovery between both countries with the ability to expand connectivity within each carrier’s respective domestic network, providing more customer choice and travel growth opportunities.”

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