Tag: defense (Page 20 of 22)

Embraer Delivers 11 Commercial and 11 Executive Jets in 1Q19

May 3, 2019 / WIL BALDWIN

São José dos Campos, SP, Brazil, May 3rd, 2019 – Embraer (NYSE: ERJ; B3: EMBR3;) delivered a total of 22 jets in the first quarter of 2019 (1Q19), of which 11 were commercial aircraft and 11 were executive jets (8 light and 3 large). As of March 31st, the firm order backlog totaled USD 16.0 billion.

In the first quarter, Embraer delivered the first E175 jet to Mauritania Airlines, the first of this model to the African continent. The airline signed a firm order for two E175 jets in 2018. The contract has a value of USD 93.8 million at current list prices.

Embraer also signed, in April, a firm order for 10 E195-E2 jets with Nigeria’s largest airline, Air Peace, which will become the first E-Jets E2 operator in Africa. The contract includes purchase rights for a further 20 E195-E2. With all purchase rights being exercised, the contract has a value of USD 2.12 billion based on current list prices. This order will be included in Embraer’s 2Q19 backlog.

The world’s best-selling light jet for the seventh consecutive year, the Phenom 300 reached the mark of the 500th aircraft delivered, becoming the only business jet model to reach this milestone in the last 10 years. The aircraft is in operation in more than 30 countries and has accumulated more than 780,000 flight hours. This milestone followed the announcement of the first Phenom 300E and Praetor 600 business jet sales to Brazilian customers.

Embraer Defense & Security and its partner Sierra Nevada Corporation (SNC) announced in February a contract for 12 A-29 Super Tucano light attack aircraft to the Nigerian Air Force. This sale was already included in Embraer’s 4Q18 backlog.

In the period, the Brazilian Navy also announced that the Águas Azuis Consortium, formed by thyssenkrupp Marine Systems, Embraer Defense & Security and Atech, was selected for the construction of four defense ships in the Tamandaré Corvettes Class Program (CCT) as preferred bidder.

In the Services & Support segment, Embraer and WDL Aviation GmbH, a German charter business which is part of the Zeitfracht logistics group, signed an agreement for a Flight Hour Pool Program to support the airline’s recently leased fleet of four used E190s. Air Astana, a flag carrier of Kazakhstan, also signed a multiyear agreement for a Flight Hour Pool Program to support the component needs for the airline’s new E2 fleet, Embraer’s second generation of the E-Jets family of commercial aircraft.

About Embraer

A global aerospace company headquartered in Brazil, Embraer celebrates its 50th anniversary with businesses in Commercial and Executive aviation, Defense & Security and Agricultural Aviation. The company designs, develops, manufactures and markets aircraft and systems, providing Services & Support to customer after-sales.

Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. On average, about every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.

Embraer is the leading manufacturer of commercial jets up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.

Germany Eyes Slice of Lucrative Space Market

April 29, 2019 / WIL BALDWIN

BERLIN, Germany (Reuters) – Facing tough competition from China, the United States and even tiny Luxembourg, Germany is racing to draft new laws and attract private investment to secure a slice of an emerging space market that could be worth $1 trillion a year by the 2040’s.

The drive to give Germany a bigger role in space comes as European, Asian and U.S. companies stake out ground in an evolving segment that promises contracts for everything from exploration to mining of outer-space resources.

Firms likely to benefit from any future spending rise in Germany include Airbus, which co-owns the maker of Europe’s Ariane space rockets, and Bremen-based OHB.

The new legislation would limit financial and legal liabilities of private companies should accidents happen in orbit, set standards for space operations and offer incentives for new projects, the German economy ministry told Reuters.

The ministry’s aerospace and space commissioner, Thomas Jarzombek, could submit the laws to parliament later this year. The move comes as companies and trade groups press for German authorities to establish a regulatory framework for the lucrative new market to encourage private investment.

“We are sounding the alarm that Germany and Europe are falling behind in space vis-a-vis China and the United States,” Dirk Hoke, defence and space chief at Franco-German-led aerospace group Airbus, told Reuters. “We’re at a critical juncture to ensure we stay in the top league.”

Germany is Europe’s economic powerhouse and the world’s fourth-largest economy. However it had just the world’s seventh-largest national space budget in 2018, an estimated $1.1 billion, just over half the amount generated by fifth-placed France, according to preliminary data from Paris-based research firm Euroconsult.

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Textron Profit Beats on Higher Aircraft Sales

April 17, 2019 / WIL BALDWIN

FILE PHOTO: Cessna employee works on an engine of a Cessna business jet at the assembly line in their manufacturing plant in Wichita, Kansas March 12, 2013. REUTERS/Jeff Tuttle

(Reuters) – Cessna business jet maker Textron Inc reported a higher-than-expected quarterly profit on Wednesday, benefiting from robust aircraft deliveries, sending its share up 1.6 percent in early trading.

Business jet demand has been growing steadily in the United States, the world’s biggest market, on the back of an expanding economy and rising corporate profits.

Textron said it delivered 44 jets in the first quarter ended March 30, up from 36 last year. Commercial turboprop deliveries rose to 44 aircraft from 29 last year.

“We think this quarter has pretty much ticked all the boxes for Textron. Aviation growth has continued, with a positive book to bill in the quarter,” Vertical Research Partners analyst Robert Stallard said.

Textron has faced delays in final certification of its newest super mid-size Longitude jet, which is expected to contribute a ‘big chunk’ to the company’s revenue growth in 2019.

Analysts have warned that the certification delays from the U.S. Federal Aviation Administration due to partial government shutdown followed by the regulator’s intense focus on re-certifying Boeing Co’s 737 MAX aircraft might impact sales growth at the company in the short.

Though the aviation business was among the drivers for a profit beat, Textron’s revenue missed Wall Street estimates, hurt by lower sales in its systems unit, which makes tactical armored patrol vehicles.

Textron re-affirmed its full-year profit outlook range of $3.55 to $3.75 per share.

Sales in the company’s aviation business, its biggest, rose 12.3 percent to $1.13 billion in the first quarter, while sales in the systems unit fell more than 20 percent to $307 million.

The company’s net income fell to $179 million in the quarter ended March 30 from $189 million a year earlier.

Textron earned 76 cents per share, above analysts’ average estimate of 68 cents, according to Refinitiv data.

Textron’s revenue fell 5.7 percent to $3.11 billion, below analysts’ estimates of $3.17 billion.

(Reporting by Divya R and Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

Sikorsky-Boeing SB>1 DEFIANT Helicopter Achieves 1st Flight

April 9, 2019 / WIL BALDWIN

WEST PALM BEACH, Fla., March 21, 2019 – The Sikorsky-Boeing SB>1 DEFIANT™ helicopter achieved first flight today at Sikorsky’s West Palm Beach, Fla., site. This revolutionary aircraft, developed by Sikorsky, a Lockheed Martin Company [NYSE: LMT], and Boeing [NYSE: BA], will help inform the next generation of military helicopters as part of the U.S. Army’s Future Vertical Lift program.

View the video.

“The design and development of DEFIANT has revealed the capability advancement that is truly possible for Future Vertical Lift,” said David Koopersmith, vice president and general manager, Boeing Vertical Lift. “Clearly, the performance, speed and agility of DEFIANT will be a game changer on the battlefield and we look forward to demonstrating for the U.S. Army the tremendous capabilities of this aircraft.”

With its two coaxial main rotors and a rear mounted pusher propulsor, DEFIANT is unlike production rotorcraft available today. It represents a leap forward in technology to achieve the U.S. government’s desire for vast increases in speed and range while improving maneuverability and survivability in a cost-effective way. DEFIANT aircraft’s use of X2™ Technology will allow the Army to penetrate from strategic standoff and exploit gaps created in complex Anti-Access Area Denial systems against near-peer adversaries.

“DEFIANT is designed to fly at nearly twice the speed and has twice the range of conventional helicopters while retaining the very best, if not better, low-speed and hover performance of conventional helicopters,” said Dan Spoor, vice president, Sikorsky Future Vertical Lift. “This design provides for exceptional performance in the objective area, where potential enemy activity places a premium on maneuverability, survivability and flexibility. We are thrilled with the results of today’s flight and look forward to an exciting flight test program.”

The helicopter is participating in the Army’s Joint Multi-Role-Medium Technology Demonstrator program. Data from DEFIANT will help the Army develop requirements for new utility helicopters expected to enter service in the early 2030s. This flight marks a key milestone for the Sikorsky-Boeing team and is the culmination of significant design, simulation and test activity to further demonstrate the capability of the X2 Technology.

X2 Technology is scalable to a variety of military missions such as attack and assault, long-range transportation, infiltration and resupply. DEFIANT is the third X2^® aircraft in less than 10 years.

For more information, visit http://www.lockheedmartin.com/defiant and https://www.boeing.com/defense/future-vertical-lift/.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

About Boeing
For more information on Defense, Space & Security visit www.boeing.com. Follow us on Twitter: @BoeingDefense and @BoeingSpace.

Boeing Receives U.S. Navy Multiyear Contract for F/A-18

April 9, 2019 / WIL BALDWIN

ARLINGTON, Va., March. 20, 2019 – With a three-year contract award for 78 F/A-18 Block III Super Hornets, Boeing [NYSE: BA] will play a vital role in the U.S. Navy’s fleet modernization efforts.

The Block III configuration adds capability upgrades that include enhanced network capability, longer range, reduced radar signature, an advanced cockpit system and an enhanced communication system. Boeing will begin converting existing Block II Super Hornets to Block III early in the next decade. The fighter’s life also will be extended from 6,000 hours to 10,000 hours.

This new multi-year contract benefits the U.S. Navy and Boeing by allowing both to schedule future production and Navy officials estimate this multi-year model saves a minimum of $395 million on this contract valued at approximately $4 billion.

“This multiyear contract will provide significant savings for taxpayers and the U.S. Navy while providing the capacity it needs to help improve readiness,” said Dan Gillian, vice president of F/A-18 and EA-18G programs. “A multiyear contract helps the F/A-18 team seek out suppliers with a guaranteed three years of production, instead of negotiating year to year. It helps both sides with planning, and we applaud the U.S. Navy on taking the appropriate steps needed to help solve its readiness challenges.”

For more information on Defense, Space & Security, visit www.boeing.com. Follow us on Twitter: @BoeingDefense and @BoeingSpace.

Elbit Systems to Acquire Harris Night Vision Business

April 8, 2019 / WIL BALDWIN

HAIFA, Israel, April 5, 2019 /PRNewswire/ — Elbit Systems Ltd. (ESLT) (ESLT) (“Elbit Systems”) announced today that its U.S. subsidiary, Elbit Systems of America, LLC (“Elbit Systems of America”), has signed a definitive agreement with Harris Corporation (HRS) (“Harris”) for the acquisition of Harris’ Night Vision business (“Harris Night Vision”) for a purchase price of $350 million.

The transaction is conditioned on completion of Harris’ proposed merger with L3 Technologies, Inc. (LLL), as well as customary closing conditions, including receipt of regulatory approvals.

Headquartered in Roanoke, Virginia, Harris Night Vision is a premier developer, producer and supplier of night vision technology for the U.S. and allied military and security forces and for the federal homeland security market.

Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S. Elbit Systems of America has a proven track record of providing high performance solutions and support services to the U.S. defense and homeland security markets. We believe that the completion of this acquisition will be beneficial both for Elbit Systems and for Harris Night Vision’s employees and customers.”

About Harris Corporation

Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems. Learn more at harris.com.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land, and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

Air Peace Selects E195-E2, Becomes First E2 Operator in Africa

April 4, 2019 / WIL BALDWIN

Port Louis, Mauritius, April 3rd, 2019 –

Embraer has signed a firm order for 10 E195-E2 jets with Air Peace, Nigeria’s largest airline. The order was announced today, during the Embraer’s Africa Airline Business Seminar, in Mauritius. With this order, Air Peace will become the first E-Jets E2 operator in Africa. The contract includes purchase rights for a further 20 E195-E2. With all purchase rights being exercised, the contract has a value of USD 2.12 billion, based on current list prices. The order will be included in Embraer’s 2019 second-quarter backlog.

Air Peace has grown rapidly since it commenced flight operations in 2014 and is now the largest airline in West Africa. The airline intends to address the significant untapped demand in the African market with the E195-E2, the newest, most efficient, and most comfortable aircraft in the segment.

Air Peace Chairman/CEO, Mr. Allen Onyema, said, “Embraer’s new E195-E2 presents us with a marvel of economic performance. It’s also great that we will be the first E2 operator on the African continent. We already have the ERJ145s in our fleet, so we understand the high standards of Embraer products.”

“Air Peace embodies the kind of pioneering spirit that Embraer loves. The airline was established to bring highly skilled work opportunities to the people of Nigeria and to boost connectivity, which in turn significantly contributed to the economy in the region. Air Peace has delivered successfully on both aims, and has become a fast growing successful airline. It’s great to now have them onboard the E2 as well.” said Arjan Meijer, Chief Commercial Officer, Embraer Commercial Aviation.

Meijer continued, “The market in Africa presents significant opportunities for airlines to deliver the connectivity that the whole continent needs. Aircraft however must be right-sized to develop those routes profitably; more than 90% of intra-African flights depart with fewer than 150 passengers onboard. And more than 70% of markets are served with less than one flight per day.”

Air Peace subsidiary, Air Peace Hopper, started operating six ERJ145 last year on short thin routes. That experience with Embraer’s products, and the undeniable economic benefits of right-sizing aircraft for the mission, was a key factor in selecting the E2.

Embraer is the world’s leading manufacturer of commercial jets up to 150 seats. The Company has 100 customers from all over the world operating the ERJ and E-Jet families of aircraft. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,500 deliveries, redefining the traditional concept of regional aircraft.

About Embraer

Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. About every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.

Denel May Wind Down Airbus A400M Manufacturing

March 31, 2019 / WIL BALDWIN

JOHANNESBURG (Reuters) – South African state arms company Denel is in talks with Airbus about winding down production of parts for the European planemaker’s A400M military aircraft, Denel said on Saturday.

Denel, a cornerstone of South Africa’s once mighty defense industry, is battling to emerge from a financial and operational crisis. In February it said it could sell stakes in some divisions as part of a strategy to return to profits within two years.

The company has also been trying to renegotiate onerous contracts and exit parts of its business which are no longer viable, after making a 1.7 billion rand ($117 million) loss in the 2017/18 financial year.

Denel said it was yet to finalize terms with Airbus for the winding down of production for the A400M.

“The two companies agreed that the continued manufacturing of aircraft parts by Denel is no longer sustainable in its current form,” Denel said in a statement. “Alternative options are now being considered between the two parties.”

Denel will try to minimize the impact on jobs at its Aeronautics division, it added.

(Reporting by Alexander Winning; Editing by David Holmes)

Embraer Announces CEO Succession

March 20, 2019 / WIL BALDWIN

Paulo Cesar de Souza e Silva concludes his tenure at the end of April and will support the transition process of the company as Senior Advisor of the Board of Directors.

São Paulo, Brazil, March 18, 2019 – Embraer, following shareholder approval of the transaction with Boeing, announces that the current President and CEO of the company, Paulo Cesar de Souza e Silva, concludes a successful professional cycle with the company on April 22, 2019 which is the end of his current two year elected term.

“Paulo Cesar idealized the partnership with Boeing and led the negotiation process of the transaction that will bring Embraer and Brazil to a much more competitive and prominent level in the global aviation industry,” said Alexandre Silva, Chairman of the Board.

For 22 years at Embraer, Paulo Cesar came from the financial market to structure the company’s sales financing area. For six years he was President and CEO of Commercial Aviation and in 2013 launched the E2 Program, the medium-sized commercial jets considered today to be the most efficient in the market.

In 2016, Paulo Cesar became President and CEO of the Embraer Group, with a mission to make the company more efficient, competitive and better prepared to face structural changes in the global aviation market.

His administration established three key initiatives focused on value creation and the sustainability of the company. The first was the transaction with Boeing. The second was the creation of the Passion for Excellence program, a structural transformation project focused on reducing costs and increasing operational efficiency, generating significant annual recurring savings. The third was the creation of EmbraerX, responsible for disruptive innovation and the development of opportunities for the future, such as eVTOL (electric vertical take-off and landing vehicle), a project that will revolutionize urban transport in partnership with Uber.

“Without the support of the Board and Embraer’s 18,000 employees and colleagues, none of our achievements would have been possible”, noted Paulo Cesar. “We are challenged to remain at the forefront of engineering and operations. In Executive Aviation and Defense, and with the KC 390 joint venture with Boeing, we will expand our international competitiveness and everything indicates that we will have another 50 years of success ahead.” And he added: “I am sure that the new leadership of the company will find fertile ground ahead to expand and consolidate Embraer.”

Paulo Cesar was invited to be a Senior Advisor to the Board, with the task of facilitating the integration of the future President and CEO and advising the Board on the monitoring of assets and resources segregation, an integral part of the process of concluding the partnership with Boeing. As it was reported, 96.8% of Embraer’s shareholders approved an agreement with the North American company last February, which should be concluded after obtaining all approvals of the Regulatory and Competitive Agencies in Brazil and abroad.

Embraer also informs that the future President and CEO, to be elected for the next term, will be recruited externally and announced on or before the Ordinary General Assembly on April 22nd.

About Embraer

Embraer is a global company headquartered in Brazil with businesses in commercial and executive aviation, defense & security. The company designs, develops, manufactures and markets aircraft and systems, providing customer support and services. Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. About every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.

Embraer is the leading manufacturer of commercial jets up to 150 seats. The company maintains industrial units, offices, service and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.

Boeing CFO Greg Smith (left), Boeing CEO Dennis Muilenburg (center), and Embraer CEO Paulo Cesar Silva

Story and images from http://www.embraer.com

Embraer Says Key Vote on Boeing Tie-up May Proceed

February 26, 2019 / WIL BALDWIN

SAO PAULO (Reuters) – Brazilian planemaker Embraer said on Tuesday a key shareholder meeting to vote on the sale of 80 percent of its commercial aviation business to Boeing Co could proceed as scheduled on Tuesday, after it got an injunction overturned.

A federal judge had suspended the meeting on Friday at the request of a union representing some Embraer workers which had lobbied against the deal, partly on concerns Boeing would slash jobs if the tie-up was approved.

Shares in Embraer surged 3 percent in early Sao Paulo trading on news the meeting would take place.

Last-minute legal twists are common in Brazil, and Embraer had already overturned several injunctions that temporarily blocked the deal.

Under the proposed terms, Boeing will pay $4.2 billion to control Embraer’s most profitable division, its commercial aviation business.

The deal will provide a cash influx that the Brazilian planemaker has defended as crucial to its survival as increased competition between Boeing and Airbus squeezes out smaller rivals.

“The potential operation with Boeing will save Embraer,” lawyers for the Brazilian planemaker said in July in a court filing as it battled an earlier challenge to the deal.

But critics say the arrangement will leave Embraer weaker and financially dependent on its two remaining divisions, executive jets and defense, both of which have posted losses in recent quarters.

Foreign shareholders, who own a tiny slice of the company, overwhelmingly voted to approve the deal.

Brazil’s securities regulator late on Monday denied a separate request filed by minority shareholders to suspend the shareholder meeting.

Embraer’s union has vowed to protest the meeting, which will be held at the planemaker’s headquarters in the city of Sao Jose dos Campos. The union’s plans prompted Embraer to seek legal restrictions of its own.

A judge sided with Embraer last week, allowing Brazil’s military police to safeguard the planemaker’s premises while the meeting takes place.

The deal has already been approved by Brazil’s government, which holds veto power over important business decisions at Embraer, which was a state company until its privatization in the 1990s.

(Reporting by Marcelo Rochabrun in Sao Paulo; Additional reporting by Gram Slattery in Rio de Janeiro; Editing by Jason Neely, Keith Weir and Bernadette Baum)

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