Tag: government (Page 21 of 22)

Bombardier Signs Contract to Upgrade Trains for Queensland

April 5, 2019 / WIL BALDWIN

Bombardier to lead a $361 million AUD design change programme requested by the Queensland Government
Bombardier to leverage local supply chain to improve fleet’s accessibility and passenger experience

Mobility technology leader Bombardier Transportation announced today an order from the Queensland Government to deliver modifications to the New Generation Rollingstock (NGR) trains currently being introduced to the South-East Queensland rail network. The order has been signed on March 29^th. The total value of the contract is approximately $361 million AUD ($255 million US, 228 million euro) which includes design and delivery, as well as ongoing maintenance, over the remaining term of the public-private partnership.

“Bombardier is proud to partner with Queensland Government to deliver the new generation trains to the passenger rail network. This variation order is an important request from our customer, and we will continue to work closely with them to deliver the NGR project in line with the enhanced specifications set out by the Queensland Government,” said Paul Brown, Bombardier Transportation’s Project Director for the Queensland New Generation Rollingstock project.

Bombardier is leading the Qtectic consortium contracted to deliver the NGR project and will undertake the work to modify the trains in line with the government’s revised design specifications with industry partner Downer EDI. The agreement between Bombardier and the Queensland Department of Transport and Main Roads (TMR) will see the previously approved toilet modules upgraded for improved disability access. The changes will also include an additional module added to each six-car train to provide improved access for passengers with limited mobility.

“The significance of the NGR project in Queensland cannot be understated,” affirmed Wendy McMillan, President, Southeast Asia and Australia at Bombardier Transportation. “With 70 percent of Queensland’s future population growth targeted in the South-East region, the NGR fleet will bring a significant 26 percent capacity increase to the South-East Queensland rail network to meet the growing demand for rail services. It’s a game-changing project for Queensland and Bombardier is proud to be delivering it.”

Features of the new trains include capacity for 964 passengers in each six-car train, onboard WiFi, CCTV throughout the train, LCD infotainment displays, toilet modules, 12 allocated spaces for mobility aids and more enhancements to the passenger experience.

Bombardier has created more than 2,000 local jobs across the industry and supply chain throughout this project. The design and toilet modification activities will support a further 100 local jobs at Downer’s Maryborough facility in addition to the 145 current Bombardier employees at the Wulkuraka Maintenance Facility.

The $4.4 billion AUD NGR project is being delivered under a public-private partnership with the Queensland Government and was awarded to Qtectic, comprising Bombardier Transportation, John Laing, Itochu and Aberdeen Standard Investments. The project includes the design and delivery of 75 new passenger trains, construction of a new maintenance centre at Wulkuraka, Ipswich and 32-years of fleet maintenance.

About Bombardier

With over 68,000 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Letter from Dennis Muilenburg to Airlines, Passengers, and the Aviation Community

March 19, 2019 / WIL BALDWIN

We know lives depend on the work we do, and our teams embrace that responsibility with a deep sense of commitment every day. Our purpose at Boeing is to bring family, friends and loved ones together with our commercial airplanes—safely. The tragic losses of Ethiopian Airlines Flight 302 and Lion Air Flight 610 affect us all, uniting people and nations in shared grief for all those in mourning. Our hearts are heavy, and we continue to extend our deepest sympathies to the loved ones of the passengers and crew on board.

Safety is at the core of who we are at Boeing, and ensuring safe and reliable travel on our airplanes is an enduring value and our absolute commitment to everyone. This overarching focus on safety spans and binds together our entire global aerospace industry and communities. We’re united with our airline customers, international regulators and government authorities in our efforts to support the most recent investigation, understand the facts of what happened and help prevent future tragedies. Based on facts from the Lion Air Flight 610 accident and emerging data as it becomes available from the Ethiopian Airlines Flight 302 accident, we’re taking actions to fully ensure the safety of the 737 MAX. We also understand and regret the challenges for our customers and the flying public caused by the fleet’s grounding.

Work is progressing thoroughly and rapidly to learn more about the Ethiopian Airlines accident and understand the information from the airplane’s cockpit voice and flight data recorders. Our team is on-site with investigators to support the investigation and provide technical expertise. The Ethiopia Accident Investigation Bureau will determine when and how it’s appropriate to release additional details.

Boeing has been in the business of aviation safety for more than 100 years, and we’ll continue providing the best products, training and support to our global airline customers and pilots. This is an ongoing and relentless commitment to make safe airplanes even safer. Soon we’ll release a software update and related pilot training for the 737 MAX that will address concerns discovered in the aftermath of the Lion Air Flight 610 accident. We’ve been working in full cooperation with the U.S. Federal Aviation Administration, the Department of Transportation and the National Transportation Safety Board on all issues relating to both the Lion Air and the Ethiopian Airlines accidents since the Lion Air accident occurred in October last year.

Our entire team is devoted to the quality and safety of the aircraft we design, produce and support. I’ve dedicated my entire career to Boeing, working shoulder to shoulder with our amazing people and customers for more than three decades, and I personally share their deep sense of commitment. Recently, I spent time with our team members at our 737 production facility in Renton, Wash., and once again saw firsthand the pride our people feel in their work and the pain we’re all experiencing in light of these tragedies. The importance of our work demands the utmost integrity and excellence—that’s what I see in our team, and we’ll never rest in pursuit of it.

Our mission is to connect people and nations, protect freedom, explore our world and the vastness of space, and inspire the next generation of aerospace dreamers and doers—and we’ll fulfill that mission only by upholding and living our values. That’s what safety means to us. Together, we’ll keep working to earn and keep the trust people have placed in Boeing.

Dennis Muilenburg
Chairman, President and CEO
The Boeing Company

German Government in Talks with Airbus on 600 million Euro A380 Loan

March 4, 2019 / WIL BALDWIN

BERLIN (Reuters) – The German government on Monday said it was in talks with Airbus about 600 million euros (514 million pounds) in outstanding loans for developing the A30 superjumbo jet, which Airbus now plans to scrap.

A spokeswoman for the German Economy Ministry confirmed the value of the outstanding loans, first reported by Funke Mediengruppe newspaper chain, but said it was premature to discuss how the issue would be resolved.

“We are analysing the consequences and discussing the issue with the company,” the spokeswoman told a regular government news conference.

(Reporting by Andreas Rinke and Tassilo Hummel; Writing by Andrea Shalal; Editing by Michelle Martin)

A380-family-stage

Boeing Nominates Former UN ambassador Nikki Haley to Board

February 26, 2019 / WIL BALDWIN

CHICAGO, Feb. 26, 2019 /PRNewswire/ — The Boeing Company [NYSE: BA] board of directors has nominated Nikki Randhawa Haley to be elected as a director at the company’s annual meeting of shareholders on April 29.

Haley is the former U.S. ambassador to the United Nations, the first female governor of South Carolina, and a three-term legislator in the South Carolina House of Representatives.

“Ambassador Haley brings to Boeing an outstanding record of achievement in government, industry partnership, and successfully driving economic prosperity for communities in America and around the world,” said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg. “Boeing will benefit greatly from her broad perspectives and combined diplomatic, government and business experience to help achieve our aspiration to be the best in aerospace and a global industrial champion.”

Ambassador Haley, 47, graduated from Clemson University with a bachelor’s degree in accounting. She was first elected to the South Carolina House of Representatives in 2004, serving three terms before being elected Governor of the state between 2011 and 2017. Haley was appointed U.S. ambassador to the United Nations by President Trump in January 2017, serving until December 2018.

“It’s an honor to have the opportunity to contribute to Boeing’s continued success as a cutting edge industry leader and a great American company,” said Ambassador Haley. “Not only is Boeing the largest aerospace company in the world and America’s biggest exporter, it also understands the importance of teamwork and building community through its network of suppliers in all 50 states and around the world.”

This Press Release Does Not Constitute a Solicitation of Proxies
This press release is not a solicitation of proxies from holders of common stock of The Boeing Company (the “Company”). The Company will provide shareholders with a proxy statement and other relevant materials in connection with the 2019 Annual Meeting of Shareholders. Any solicitation of proxies by or on behalf of the Company in connection with the 2019 Annual Meeting of Shareholders will be conducted upon and following the dissemination of the proxy statement and other materials in accordance with applicable law. We urge shareholders to read the proxy statement and any other relevant documents to be filed with the SEC when available, as such documents will contain important information. Shareholders will be able to receive the proxy statement and other relevant documents free of charge at the SEC’s website at http://www.sec.gov or at http://www.boeing.com.

Story from http://www.boeing.com

Southwest Airlines Cuts 2019 Growth Forecast

February 20, 2019 / WIL BALDWIN

(Reuters) – Southwest Airlines Co cut its forecast for first-quarter revenue per seat mile on Wednesday, citing weak passenger demand and a $60 million hit to first-quarter sales from the longest partial U.S. government shutdown.

The more than month-long hiatus in U.S. government decision-making prevented the country’s fourth-largest airline from launching its new route to Hawaii and led to widespread delays at airports.

Southwest had said previously that it expected a $10 million to $15 million impact on revenue in the first three weeks of January.

On Wednesday, it quadrupled that for the full quarter and cut its growth estimate for unit revenue to a range of 3 percent to 4 percent from an earlier range of 4 percent to 5 percent.

Shares of the company, which has also been cancelling flights in recent days due to a conflict with maintenance staff and weather issues, fell nearly 5 percent in early trading, with a Goldman Sachs “sell” recommendation for investors adding to the pain.

Though the company has now received permissions for test flights to Hawaii, Goldman Sachs analyst Catherine O’Brien argued the shutdown would result in a shortened selling window for the airline, forcing it to discount fares heavily.

“Most of the company’s schedule is published eight months in advance and we would have expected a three to six month selling window for its Hawaii flights,” O’Brien wrote in a note, downgrading the stock to “sell” from “neutral”.

“We now expect initial flights to have a one to one and a half month selling window, putting more pressure on management to fill planes in a shorter time frame,” she added, cutting price target on the stock to $54 from $66.

Southwest shares were last down 4.1 percent at $55.30.

The company said on Tuesday it would be investigating a doubling of the number of planes grounded with mechanical problems in recent days as it continues talks with its mechanics union on a new contract that have been ongoing since 2012.

Flight cancellations by Southwest accounted for roughly 24 percent of the nearly 800 total flights canceled across the United States on Tuesday, according to flight-tracking service FlightAware.com.

About half of the cancellations were related to unscheduled maintenance issues but the airline said it had yet to calculate the impact of the groundings on its results.

(Reporting by Ankit Ajmera and Rama Venkat in Bengaluru; Editing by Anil D’Silva)

Airbus Helicopters sees strong sales increase in 2018

January 23, 2019 / WIL BALDWIN

Gross orders up 18 percent to 413 units
First orders for the next-generation H160
Increasing share of the military market

Marignane, 23 January 2019 – Airbus Helicopters delivered 356 rotorcraft and logged gross orders for 413 helicopters (net: 381) in 2018 (up from 350 gross orders in 2017), maintaining its lead in the civil & parapublic market while reinforcing its position in the military market thanks to key successes with international campaigns. The company also booked 148 orders for light twin-engine helicopters of the H135/H145 family and secured 15 orders for the next-generation H160. At the end of last year, the overall backlog increased to 717 helicopters.

“Our commercial performance in 2018 demonstrates the resilience we have developed as a company to help us navigate what remains a challenging environment,” said Bruno Even, Airbus Helicopters CEO. “Even though the civil & parapublic market remains at a low level worldwide, we have managed to maintain our global leadership thanks to our wide and modern portfolio of products and services and our international footprint. Meanwhile, we have increased our market share in the military sector by securing major contracts with leading armed forces worldwide, with best-in-class solutions. These positive trends give us the means to prepare the future and continue our transformation, with innovation at our core and customer loyalty at heart.”

In 2018, Airbus Helicopters delivered the first of 100 H135s for China in Qingdao, where a dedicated final assembly line will serve the growing demand of the Chinese market for civil & parapublic helicopters. Meanwhile, Hong Kong Government Flying Service took delivery of the first H175s in public services configuration.

Last year also proved successful for the Super Puma family which demonstrated its versatility by being selected in key military campaigns, while attracting new civil & parapublic customers with repurposed H225s previously operated on the oil & gas market. Likewise, 2018 proved to be a very positive year for the NH90, which attracted orders for 28 units in Qatar while being selected by Spain in the frame of a follow-on order for 23 units.

Key programme milestones were achieved in 2018, including the power-on and ground testing of the CityAirbus electric vertical take-off and landing (eVTOL) technology demonstrator, ahead of a maiden flight expected early 2019. The first H160 in serial configuration entered flight trials in 2018, while the VSR700 unmanned aerial system demonstrator performed its first unmanned flights at the end of the year.

Footnote:
The Full-Year 2018 net orders and backlog represent the contractual view. The Full-Year 2018 backlog value will be measured under IFRS 15 and will reflect the recoverable amount of revenues under these contracts. The FY 2017 backlog will not be restated.

Story and image from http://www.airbus.com

Airbus Seeks Hefty Cost Cuts for A220 Jet

January 14, 2019 / WIL BALDWIN

MONTREAL (Reuters) – Europe’s Airbus is looking for a “significant double-digit” percentage reduction in costs for a recently acquired Canadian jet program, as it expands production capacity to cope with anticipated demand for the former Bombardier jet.

Philippe Balducchi, head of an Airbus-led venture which took over production of the loss-making A220 last year, indicated the bulk of the reduction in costs would come from the supply chain as Airbus uses its greater clout in negotiations for parts.

Other savings would come from more efficient operations as workers gain experience of building the lightweight 110-130-seat jet, whose deliveries doubled to 33 aircraft last year.

But overall economies will go “way beyond” what Airbus can achieve internally on the assembly line, Balducchi said.

“Our focus is to sell, ramp up (production) and reduce costs on the A220,” Rob Dewar, head of engineering and customer support, added during a media briefing on the jet, which was known as the CSeries until Airbus took control in July 2018.

The A220 consortium, which also includes Bombardier and the Quebec government, is spending some $30 million to expand its Mirabel production plant outside Montreal and will break ground this week on a new assembly line in Alabama for U.S. airlines.

Airbus meanwhile said the Canadian-developed A220 jet had won approval to fly up to three hours away from the nearest airport in the event of a shutdown of one of its two engines – a safety standard which underpins its use on longer-range routes.

The green light has been given by Canada, while approvals in the United States and Europe are pending, Airbus officials said.

The extended operations or ETOPS approval affects the number of routes the plane can fly over water or remote areas.

(Reporting by Tim Hepher; editing by Richard Lough and Jan Harvey)

Image from http://www.airbus.com

Embraer and Boeing Welcome Brazilian Government Approval

January 11, 2019 / WIL BALDWIN

São Paulo and Chicago, January, 10, 2019 – Embraer [B3: EMBR3, NYSE: ERJ] and Boeing [NYSE: BA] have welcomed approval by Government of Brazil of the strategic partnership that will position both companies to accelerate growth in global aerospace markets.

The government’s approval comes after the two companies last month approved terms for the joint venture that will be made up of the commercial aircraft and services operations of Embraer. Boeing will hold an 80 percent ownership stake in the new company and Embraer will hold the remaining 20 percent.

The companies have also agreed to the terms of another joint venture to promote and develop new markets for the multi-mission medium airlift KC-390. Under the terms of this proposed partnership, Embraer will own a 51 percent stake in the joint venture, with Boeing owning the remaining 49 percent.

Once Embraer’s Board of Directors ratifies its prior approval, the two companies will then execute definitive transaction documents. The closing of the transaction will be subject to shareholder and regulatory approvals and customary closing conditions. Assuming the approvals are received in a timely manner, the transaction is intended to close by the end of 2019.

Forward-Looking Information Is Subject to Risk and Uncertainty Certain statements in this release may be “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed terms of the transaction, the ability of the parties to satisfy the conditions to executing or closing the transaction and the timing thereof, and the benefits and synergies of the proposed transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and neither party undertakes an obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, the ability of the parties to reach final agreement on a transaction, consummate such a transaction and realize anticipated synergies, and other important factors disclosed previously and from time to time in the filings of The Boeing Company and/or Embraer with the Securities and Exchange Commission.

Story and image from http://embraer.com

Spain Says Iberia Meets EU Airline Rules if No-Deal Brexit

January 10, 2019 / WIL BALDWIN

MADRID (Reuters) – The Spanish government is confident national flag carrier Iberia will be able to fly across Europe in the event of a disorderly Brexit, even though the airline is majority-owned by Britain-based Anglo-Spanish group IAG (ICAG.L).

Britain is due to leave the European Union on March 29 but has yet to seal a withdrawal agreement, posing a potential risk to airlines that don’t meet EU rules requiring European carriers to be majority-owned and operated in the bloc.

“From the public works ministry’s point of view, we’re convinced that Iberia is a Spanish company,” a spokesman for the ministry told Reuters.

“We are also convinced that, if necessary, the company will make the necessary adjustments to make sure it complies with European regulations,” he said.

Iberia carries 19 million passengers a year and is a major employer in Spain with almost 17,000 workers.

IAG, which also owns British Airways, is registered in Spain but headquartered in Britain and has shareholders from around the world. Iberia has a Spanish shareholder with just over 50 percent of voting rights via a complex ownership scheme.

“We are confident that we will comply with the EU and the UK ownership and control rules post-Brexit,” IAG said, adding that IAG was a Spanish company.

The Financial Times reported on Tuesday that Brussels had doubts about IAG’s arguments that its individual airlines are domestically owned.

European Commission sources told Reuters that Brussels encouraged IAG and all airlines concerned to check with the national licensing authorities whether they would still meet the operating licence requirements in case of a “no deal” Brexit.

They said the Commission was in regular contact with the national authorities that review compliance.

While IAG wholly owns the economic rights of Iberia Holdings, it holds just 49.9 percent of voting rights. Garanair, wholly owned by Spain’s retail giant El Corte Ingles, has the remaining 50.1 percent voting stake.

(By Belén Carreño. Additional reporting by Jan Strupczewski; Writing by Andrei Khalip; Editing by Mark Potter)

Image from http://Iberia.com

Saudi Private Jet Industry Stalls After Corruption Crackdown

January 9, 2019 / WIL BALDWIN

DUBAI (Reuters) – A crackdown on corruption in Saudi Arabia has severely dented the kingdom’s private jet industry in a sign of the impact the campaign has had on private enterprise and the wealthy elite.

Dozens of planes, owned by individuals and charter companies and worth hundreds of millions of dollars, are stranded at airports across the kingdom including Riyadh and Jeddah, four people familiar with the matter told Reuters.

Some were handed over to the state in settlements reached after the crackdown was launched in late 2017, when dozens of princes, businessmen and government officials were detained, they said.

Others belong to Saudis who either face travel bans or are reluctant to fly the planes because they are wary of displays of wealth that might be seen as taunting the government over the anti-corruption campaign, two of the sources said.

The government media office did not respond to requests for comment. The General Authority of Civil Aviation said questions on the impact of the anti-corruption drive on the private jet industry were outside its mandate, adding that its relationship with private aviation covers operations, safety and regulations.

The crackdown’s impact on the business community and private enterprise, which are already reeling from low oil prices and weakened consumer confidence, has shattered investor confidence and contributed to a sense of uncertainty around the policies of Crown Prince Mohammed bin Salman.

The idle aircraft, which one of the sources estimated at up to about 70, include Bombardier (BBDb.TO) and Gulfstream jets, the sources said. There are also larger Airbus (AIR.PA) and Boeing (BA.N) aircraft that are more commonly associated with commercial airlines but are often used in the Middle East as private jets.

A Boeing 737 MAX or Airbus A320neo can cost up to $130 million (£102.1 million), though the final cost depends on how the jet is fitted out with technology and amenities, including private bedrooms, meeting rooms, and even gym equipment.

The number of registered private jets in Saudi Arabia stood at 129 as of December 2018 compared with 136 a year earlier, according to FlightAscend Consultancy data.

Private jets offer users flexibility as, unlike commercial airliners, they are not constrained by arrival and departure time slots. They also enable users to travel more discreetly.

UNDER THE RADAR

Saudi Arabia’s finance minister, Mohammed al-Jadaan, said last month the state had collected more than 50 billion riyals (£10.4 billion) from settlements reached under the crackdown.

Most of the detainees held at Riyadh’s Ritz-Carlton Hotel last November were released after being exonerated or reaching financial settlements with the government, which said it aims to seize more than $100 billion in total in either cash or assets.

It is unclear how the government would transfer ownership of the jets grounded across Saudi Arabia as many are owned through offshore firms or are mortgaged, two of the sources familiar with the matter said.

Three of the sources said it was likely that the jets were still registered in the kingdom.

Two of the sources said the government could absorb the aircraft into existing fleets used by ministries and state-owned corporations. A third source said the government had been looking to set up its own private jet company made up entirely of seized aircraft.

The anti-corruption campaign launched by Prince Mohammed has won widespread approval among ordinary Saudis, partly because the government has said it will use some of the funds to finance social benefits.

Critics have said the purge was a power play by the prince as he moved to consolidate power in his hands.

There have been few private jet flights in Saudi Arabia over the past year, largely because there are fewer planes readily available, including for charter, three of the sources familiar with the matter said.

VistaJet Chief Commercial Officer Ian Moore compared it to the situation in China where an anti-corruption crackdown has also weakened the private jet market.

“It’s not really politically great to be seen flying privately at the moment, particularly owning your own aircraft,” he told Reuters.

Some wealthy Saudi elite are taking commercial airlines to the United Arab Emirates, Bahrain and other destinations and then chartering private jets to avoid government scrutiny, two of the sources said.

Plane manufacturers said the appetite for business jet sales in Saudi Arabia has dropped since the anti-corruption crackdown was launched in November 2017.

“Political instability does not help consumer confidence in any way, shape or form,” Embraer Executive Jets Chief Commercial Officer Stephen Friedrich told Reuters.

By Alexander Cornwell. Additional reporting by Allison Lampert in Montreal; Editing by Saeed Azhar and Timothy Heritage.

Image from http://corporatejetinvestor.com

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