Tag: value (Page 2 of 6)

Alstom China Joint Venture Wins Maintenance Contract for Shanghai Metro Line 12

February 21, 2022 / WIL BALDWIN

February 18, 2022 – Alstom (OTC: ALSMY) Chinese joint venture, Shentong Bombardier (Shanghai) Rail Transit Vehicle Maintenance Co., Ltd., has been awarded a contract from Shanghai Shentong Metro Group Co., Ltd. (Shanghai Metro) to provide whole lifecycle maintenance service for 204 Movia metro cars (34 trains) on Shanghai’s Line 12 phase 2 and phase 3 project. The total contract is valued at approximately €43.6 million (330 million CNY excl. VAT).

Under the contract, SHBRT will adopt the condition-based maintenance regime by deploying the advanced maintenance tools, including Alstom’s Orbita advanced train monitoring system, Automatic Vehicle Inspection System, etc., to improve the safety, reliability, availability and efficiency of Shanghai’s Line 12 fleet. The scope of the contract includes preventive maintenance, corrective maintenance, balanced overhauls, safety inspections, train cleaning and train escort services for 204 metro cars. The project is expected to be completed in November 2027.

American Airlines to Expand Embraer Fleet

February 18, 2022 / WIL BALDWIN

São José dos Campos, Brazil, February 15, 2022 – American Airlines has signed a firm order with Embraer (NYSE: ERJ) for three new E175s. The aircraft will be operated by American’s wholly owned subsidiary, Envoy Air. With deliveries to be completed this year, Envoy’s fleet of E175s will grow to over 100 aircraft by the end of 2022. The contract value is USD 160.2 million at current list prices and will be included in Embraer’s 2021 fourth quarter backlog.

“Reaching the century mark of 100 E175s with American Airlines and Envoy is truly a moment to savor. We thank American Airlines and Envoy for their sustained partnership with Embraer, which began back in 1998,” said Mark Neely, Vice President Sales and Marketing for The Americas, Embraer Commercial Aviation. “It’s hard to exaggerate the impact this hardworking aircraft has every day, delivering essential connectivity across the US market. The E175 is the backbone of the US regional network, with over 600 aircraft sold, and 86% market share since 2013.”

“Our incredible journey with Embraer began almost 25 years ago with the ERJ 145. Our partnership continues to grow today with the E175s, the core of our fleet. Not only are our customers happy with the aircraft, but the jet’s outstanding performance has allowed us to continue to provide excellent service to American Airlines,” said Pedro Fábregas, President & CEO of Envoy. “We look forward to receiving these three new aircraft later this year as we continue to expand our growing network.”

Rolls-Royce Completes Sale of Bergen Engines

January 4, 2022 / WIL BALDWIN

Rolls-Royce (OTC: RYCEY) announces the completion of the sale of our Bergen Engines business to Langley Holdings plc for an enterprise value of €63m. The completion of the transaction, which was announced on 3 August 2021, follows the conclusion of work to separate the business from the Group.

Sale proceeds of €91m from the transaction, together with €16m of cash held within Bergen Engines which has been retained by Rolls-Royce, will be used to help rebuild the Rolls-Royce balance sheet in support of our medium-term ambition to return to an investment grade credit profile. In 2020, Bergen Engines generated revenues of approximately €200m with the assets and liabilities of the business presented as held for sale in the Rolls-Royce Holdings plc consolidated balance sheet.

Airbus Atlantic Launches, Creating a New Global Player for Aero Structures

January 4, 2022 / WIL BALDWIN

Toulouse, France January 2022 – A wholly-owned Airbus subsidiary, Airbus Atlantic, a global player in the aerostructures field, was officially established on 1st January 2022. The new company groups the strengths, resources and skills of the Airbus (OTC: EADSY) sites in Nantes and Montoir-de-Bretagne, the central functions associated with their activities, as well as the STELIA Aerospace sites worldwide.

This unification is part of the transformation project announced in April 2021, aimed at strengthening the value chain of aerostructure assembly within Airbus’s industrial setup, this activity being considered as core business. It marks the intention to gain competitiveness, innovation and quality for the benefit of Airbus’s programmes of today and tomorrow.

As such, Airbus Atlantic will be an essential element in the group’s value chain and will play a key role with regard to the aerostructure supply chain, with more than 500 direct suppliers (flying products) and more than 2,000 indirect suppliers (general procurement products).

With 13,000 staff in 5 countries and 3 continents, and an estimated business volume of around 3.5 Bn euros, Airbus Atlantic is the world number two for aerostructures, world number one for pilot seats and ranks in the top three for Business Class and First Class passenger seats, which continue to be marketed under the STELIA Aerospace brand.

Air New Zealand Receives 1,600th ATR Aircraft Delivery

December 27, 2021 / WIL BALDWIN

Toulouse, France – In the same month as it celebrated its 40 year anniversary, ATR has reached another impressive milestone in its history, delivering its 1,600th aircraft to national flag carrier, Air New Zealand (OTC: ANZLY). This delivery highlights the enduring strength of the ATR program, providing essential connectivity to communities all over the world. It also proves the value of the ATR 72-600 at serving domestic routes in New Zealand as it is the last of 29 aircraft ordered.

While ties between the two companies initially began some 25 years ago with the delivery of first generation ATR’s, this last decade has seen the forging of closer ties, with the delivery of the 29 dash 600 aircraft and through an important collaboration that enhanced the aircraft’s approach capabilities.

The introduction of the RNP AR 0.3/0.3 feature, part of ATR’s latest Standard 3 avionics suite, helped the airline and its pilots with the accuracy of the approach into Queenstown airport and providing reliable connectivity to the local community, who benefit greatly from ski tourism in the mountainous region.

Sustainability is also a key concern for both airline and manufacturer, with Air New Zealand having chosen the ATR 72-600 for its fleet as it burns 40% less fuel and emits 40% less CO2 than a similarly sized regional jet. This shared commitment to further enhancing eco-efficiency led to an agreement to work together to explore the future of the regional aviation ecosystem, including hybrid aircraft in 2018.

Future Combat Air Program Tempest Poised to Drive Productivity Across United Kingdom

May 25, 2021 / WIL BALDWIN

The Tempest program is expected to generate long-term high value employment, with productivity per worker 78% higher than the national average, underlining how this exciting programme can make a significant contribution to the UK Government’s levelling up priorities and the wider economy.

The program is being delivered by Team Tempest – combining the expertise of the UK Ministry of Defence (MOD), BAE Systems, Leonardo UK, MBDA UK and Rolls-Royce. Working with international partners, the team is leading progress towards a UK-led internationally collaborative Future Combat Air System which will ensure the Royal Air Force and its allies retain world-leading, independent military capability.

Key to the success of Tempest is delivering this highly-advanced capability more rapidly and more cost effectively than ever before.

Investment by industry and MOD in research and development for Tempest will generate positive spill-over benefits for the wider economy through applications of new technologies in other sectors and driving innovation in collaboration with hundreds of companies, SMEs and academic organisations.

Click the link below to read the full story!

https://www.baesystems.com/en/article/the-economic-impact-of-the-tempest-programme

Alaska Air Group Orders Nine New Embraer E175 Aircraft for Operation with Horizon Air

May 17, 2021 / WIL BALDWIN

Embraer has agreed the sale of nine new E175 jets to Alaska Air Group and its subsidiary Horizon Air. The E175 aircraft will fly exclusively with Alaska Airlines under a Capacity Purchase Agreement (CPA). The value of the contract, which will be included in Embraer’s second-quarter backlog, is USD 449.1 million, based on current list prices.

Alaska Airlines, a new member of the Oneworld Alliance, currently has 62 Embraer E175 jets in their fleet, operated by Horizon Air and SkyWest Airlines. The 76-seat aircraft will be delivered in Alaska’s livery and three-class configuration, starting in 2022.

Alaska Air Group also announced today a commitment for eight more E175 aircraft with SkyWest Airlines. Once all 17 E175 aircraft announced today are delivered, Alaska Air Group will have 79 E175s in its regional fleet operated by Horizon and SkyWest.

Horizon is converting nine options from its April 2016 contract to firm orders. Added to Horizon’s three remaining firm orders on backlog, they will have a fleet of 42 E175’s flying for Alaska Airlines, when all aircraft are delivered.

The E175 has been a lifeline for carriers as they are perfectly suited to rebuild frequencies and add incremental capacity to meet rebounding domestic demand. During 2020 it was the first aircraft type to bounce back, achieving 100% of Alaska’s 2019’s schedule by Nov. 2020. Last October, the E175 started replacing larger aircraft on several intra-Alaska routes. Alaska Airlines has also been building its presence in California with the addition of new seasonal routes between cities in the Golden State and Montana with the E175.

Southwest Airlines Announces Myrtle Beach, Eugene, and Bellingham 2021 Service Plans

March 8, 2021 / WIL BALDWIN

Southwest Airlines Company (NYSE: LUV) today announced an intention to bring the flexibility and value of Southwest Airlines® to three more new airports in 2021. Southwest Airlines Chairman and CEO Gary Kelly today is sharing the following message with the Employees of Southwest:

I’m pleased to share with you all that today we’re announcing our intention to serve three more destinations and continue our focus on putting our aircraft to work to pursue more Customers and much-needed revenue.

And the destinations are (drum roll!) Myrtle Beach, South Carolina; Eugene, Oregon; and Bellingham, Washington—three very different and appealing locations to both serve our existing Customers and places where we feel Southwest can make a real difference for local travelers.

We’re looking to start Myrtle Beach service in time for summer vacations and we expect our arrival to appeal to travelers who currently drive to this very popular coastal area in the Southeast. ‘Golf bags fly free’* should be very popular for Myrtle Beach service!

Eugene is about two hours south of Portland, and it’s ripe for the Southwest Effect, our Hospitality, and our flexible policies, with no hidden fees, and low fares.

Southwest service in Bellingham positions us just south of metro Vancouver, British Columbia. Following the reopening of the Canadian border, we expect a return of the value-minded travelers who already drive to this alternative airport to escape high fares and taxes—and that’s very, very typical for Southwest destinations. Southwest provides a great value for them.

Service to both Eugene and Bellingham is something we’ve anticipated in the second half of the year.

That makes 17 new airports that either we have opened or announced since the pandemic began. And for those that have commenced service, they’re performing very well. In fact, we just shared with the airports serving Steamboat Springs and Telluride that we’re extending our service beyond the winter season to continue serving both through the summer of 2021.

Colorado Springs, Savannah, and our Long Beach service to Hawaii all start-up this coming Thursday.

That’s a lot of work, a lot of new destinations, and a lot of options for our Customers and so I want to thank all of the Teams that have a hand in continuing to grow the Heart of Southwest while better positioning us to capture more Customers as the travel demand rebounds.

*Golf bags fly free as one of two checked pieces of baggage offered to every Southwest Customer (weight and size limitations apply)

Siemens Mobility SignsMoU to Install Egypt’s First High-Speed Rail System

January 17, 2021 / WIL BALDWIN

Agreement comprises a rail system with a network of around 1000km – first being a 460km project valued around 3bn$
Turnkey Engineering, Procurement and Construction project including 15 years of services
Siemens Mobility to provide high-speed and regional trains, locomotives, rail infrastructure, system integration and other services

The National Authority for Tunnels, a governmental authority under the jurisdiction of the Ministry of Transport of Egypt, and Siemens Mobility have signed a Memorandum of Understanding (MoU) – together with the local companies Orascom Construction S.A.E. and The Arab Contractors (Osman Ahmed Osman & Co.) – to design, install and commission Egypt’s first ever high-speed rail transportation system. Additionally, Siemens Mobility will be providing maintenance services. The agreement comprises a rail system with a network of 1000km, with the first being a 460km high-speed line. The order value of this initial high-speed line is around 3bn$.

The MoU was signed by Essam Waly, Chairman of Egypt’s National Authority for Tunnels, and Michael Peter, CEO Siemens Mobility, in a meeting on January 14, 2021 in Cairo. This was witnessed by His excellency, Prime Minister Mostafa Madbouly, His excellency, Minister of Transport Egypt Kamel Al Wazir, as well as Siemens CEO Joe Kaeser and Siemens Deputy CEO Roland Busch.

The first 460 km long high-speed line will connect the vastly developing cities of El-Alamein on the Mediterranean Sea to Ain Sokhna on the Red Sea, while also passing through the New Administrative Capital. The line will also be operable for freight transport purposes which will further foster economic growth in the region.

Siemens Mobility is the global leader in high-speed rail operations and is one of the leading companies in the Egyptian mobility market since the 1960s. The company has also extensive experience in delivering high-speed rail projects in the Middle East and Africa region.

As a leading global rail turnkey project provider with a proven track record of delivering projects on time, Siemens Mobility integrates its portfolio elements and delivers complete rail systems reliably and from one single source. So far, the company has successfully completed around 50 turnkey projects all over the world – delivering many ahead of schedule. Latest projects include the Extension of the Blue Line metro in Bangkok finished last year and the Copenhagen Light Rail project.

For further information about Siemens Mobility, please see: www.siemens.com/mobility

Congo Airways Orders Two More Embraer E195-E2 Aircraft

January 14, 2021 / WIL BALDWIN

Just six months after their first E2 order, Congo Airways has placed a firm order for two E195-E2 jets. This is in addition to their existing two aircraft order for the smaller E190-E2. The four aircraft deal has a total value of USD 272 million at current list prices. This new firm order will be included in Embraer’s 2020 fourth quarter backlog.

Desire Bantu, CEO of Congo Airways said, “We see an opportunity in our market and the crisis we are all facing for Congo Airways to emerge stronger – which is why we are not waiting to place this further order. These new jets will allow us to extend our passenger and cargo operations regionally to high demand destinations such as Cape Town, Johannesburg, and Abidjan. As we prepare for future success, we will have the flexibility, and the right sized, most efficient aircraft, to serve our customers as the market returns.”

“Africa has for too long been thought of as a market of mostly low frequencies and long thin routes. As airlines start ramp up their operations, the E2 family of aircraft 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. “Congo Airways will benefit from the flexibility provided by the common cockpit on the E2 jet family meaning their flight crews can transition seamlessly between variants.”

The E195-E2 will be configured in a dual class 120 seat layout, 12 in business, 108 in economy. An additional 25% capacity when compared to the 96-seat configuration chosen by Congo Airways for their E190-E2s. The E2 deliveries are expected to begin in 2022 with Embraer and Congo Airways continuing to review the potential to anticipate the beginning of the deliveries. There are currently 206 Embraer aircraft operating in Africa with 56 airlines in 29 countries.

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