Tag: airplanes (Page 3 of 9)

Investment Firm 777 Partners Order 24 Boeing 737 MAX Airplanes

March 16, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and private investment firm 777 Partners announced today an agreement to add 24 737-8s to the firm’s diverse aviation portfolio, with purchase rights for an additional 60 airplanes. The Miami-based company will place the single-aisle airplanes with its growing portfolio of low-cost carrier investments around the world.

In addition to aircraft leasing, 777 Partners strategically invests in a host of aviation businesses, from operating carriers to technology-driven solutions. The firm’s travel sector strategy is largely focused on innovative solutions for interlining, passenger connectivity, and creating new commerce channels for its airline investments and customers.

The 737-8 can fly 3,550 nautical miles, about 600 miles farther than its predecessor. This additional capability allows airlines to offer new and more direct routes for passengers. The 737-8 reduces fuel use and CO₂ emissions by 16% compared to the airplanes it replaces, and that superior fuel efficiency means lower operating costs and a smaller environmental footprint. Every airplane features the new Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

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.

777 Partners is a Miami-based private alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.

Boeing Begins T-7A Red Hawk Advanced Trainer Production

February 23, 2021 / WIL BALDWIN

ST. LOUIS, Feb. 23, 2021 — A new era in aircraft design and build has begun as the first U.S. portion of the T-7A Red Hawk advanced trainer has officially entered the Boeing [NYSE: BA] jet’s state-of-the-art production line.

The training jet, designated the eT-7A Red Hawk by the U.S. Air Force because of its digital heritage, was fully designed using 3D model-based definition and data management systems developed at Boeing during the last two decades. The T-7A Red Hawk employed the digital engineering and design of the Boeing T-X aircraft that went from firm concept to first flight in just 36 months.

The Advanced Pilot Training System also incorporates leading-edge ground-based live and virtual simulators to give students and instructors a “real as it gets” experience.

In September 2018, the U.S. Air Force awarded Boeing a $9.2 billion contract to supply 351 advanced trainer aircraft and 46 associated ground-based training simulators. Saab is teamed with Boeing on the trainer and provides the aft fuselage of the jet.

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 and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

F-15EX First Flight Clears Path for Deliveries to U.S. Air Force

February 2, 2021 / WIL BALDWIN

The new Boeing [NYSE: BA] F-15EX fighter jet completed its first flight today, paving the way for the early delivery of the first two jets to the U.S. Air Force later this quarter. The jet took off and landed from St. Louis Lambert International Airport, completing a 90-minute test flight before returning to the airport.

Boeing F-15 Chief Test Pilot Matt Giese checked out the multirole jet’s avionics, advanced systems and software. A test team monitoring the data collected during the flight in real time confirmed that the aircraft performed as planned.

“Today’s successful flight proves the jet’s safety and readiness to join our nation’s fighter fleet,” said Prat Kumar, Boeing vice president and F-15 program manager. “Our workforce is excited to build a modern fighter aircraft for the U.S. Air Force. Our customer can feel confident in its decision to invest in this platform that is capable of incorporating the latest advanced battle management systems, sensors and weapons due to the jet’s digital airframe design and open mission systems architecture.”

The fighter’s digital backbone means it can serve as a testbed for future technology insertion, a key capability for the Air Force. Modern variants of the F-15 also include fly-by-wire flight controls, an all-new digital cockpit, modern AESA radar and the ADCP-II, the world’s fastest mission computer. The F-15EX, the most advanced version to date, features the Eagle Passive/Active Warning and Survivability System electronic warfare system to improve mission effectiveness and survivability for operators.

In July, the Air Force awarded Boeing a contract to build the first lot of eight jets. Future plans call for as many as 144 aircraft. For more information on Defense, Space & Security, visit www.boeing.com

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. 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.

Boeing Reports Fourth-Quarter Results

January 27, 2021 / WIL BALDWIN

Fourth Quarter 2020

Financial results significantly impacted by COVID-19, 737 MAX grounding, and commercial widebody programs
777X program recorded $6.5 billion pre-tax charge; first delivery expected in late 2023
737 MAX began receiving regulatory approval to resume operations and restarted deliveries
Revenue of $15.3 billion, GAAP loss per share of ($14.65) and core (non-GAAP)* loss per share of ($15.25)

Full-Year 2020

Revenue of $58.2 billion, GAAP loss per share of ($20.88) and core (non-GAAP)* loss per share of ($23.25)
Operating cash flow of ($18.4) billion; cash and marketable securities of $25.6 billion
Total backlog of $363 billion, including more than 4,000 commercial airplanes
Strengthening safety processes, improving performance, managing liquidity and transforming for the future

Table 1. Summary Financial Results	Fourth Quarter		Full Year
(Dollars in Millions, except per share data)	2020	2019	Change	2020	2019	Change

Revenues	$15,304	$17,911	(15)%	$58,158	$76,559	(24)%

GAAP
Loss From Operations	($8,049)	($2,204)	NM	($12,767)	($1,975)	NM
Operating Margin	(52.6)%	(12.3)%	NM	(22.0)%	(2.6)%	NM
Net Loss	($8,439)	($1,010)	NM	($11,941)	($636)	NM
Loss Per Share	($14.65)	($1.79)	NM	($20.88)	($1.12)	NM
Operating Cash Flow	($4,009)	($2,220)	NM	($18,410)	($2,446)	NM
Non-GAAP*
Core Operating Loss	($8,377)	($2,526)	NM	($14,150)	($3,390)	NM
Core Operating Margin	(54.7)%	(14.1)%	NM	(24.3)%	(4.4)%	NM
Core Loss Per Share	($15.25)	($2.33)	NM	($23.25)	($3.47)	NM

*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures.”

The Boeing Company [NYSE: BA] reported fourth-quarter revenue of $15.3 billion, reflecting lower commercial deliveries and services volume primarily due to COVID-19 as well as 787 production issues, partially offset by a lower 737 MAX customer considerations charge in the quarter compared to the same period last year (Table 1). GAAP loss per share of ($14.65) and core loss per share (non-GAAP)* of ($15.25) reflected a $6.5 billion pre-tax charge on the 777X program and a tax valuation allowance, partially offset by a lower 737 MAX customer considerations charge. Boeing recorded operating cash flow of ($4.0) billion.

“2020 was a year of profound societal and global disruption which significantly constrained our industry. The deep impact of the pandemic on commercial air travel, coupled with the 737 MAX grounding, challenged our results. I am proud of the resilience and dedication our global team demonstrated in this environment as we strengthened our safety processes, adapted to our market and supported our customers, suppliers, communities and each other,” said Boeing President and Chief Executive Officer Dave Calhoun. “Our balanced portfolio of diverse defense, space and services programs continues to provide important stability as we lay the foundation for our recovery. While the impact of COVID-19 presents continued challenges for commercial aerospace into 2021, we remain confident in our future, squarely-focused on safety, quality and transparency as we rebuild trust and transform our business.”

The return to service of the 737 MAX in the U.S. and several other markets was an important step, and Boeing continues to follow the lead of global regulators and support its customers. Since the FAA’s approval to return to operations, Boeing has delivered over 40 737 MAX aircraft and five airlines have safely returned their fleets to service as of January 25, 2021, safely flying more than 2,700 revenue flights and approximately 5,500 flight hours.

Boeing now anticipates that the first 777X delivery will occur in late 2023. This schedule, and the associated financial impact, reflect a number of factors, including an updated assessment of global certification requirements, the company’s latest assessment of COVID-19 impacts on market demand, and discussions with its customers with respect to aircraft delivery timing.

Click the link below to read the full press release!

https://boeing.mediaroom.com/2021-01-27-Boeing-Reports-Fourth-Quarter-Results

Boeing 747-8 Lives On With Atlas Air Worldwide Purchases of Four Freighters

January 14, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and Atlas Air Worldwide announced an agreement to purchase four 747-8 Freighters. The order enables Atlas Air to leverage the operational advantages of the 747-8 Freighter to meet growing cargo demand around the globe.

“The 747-8F is the best and most versatile widebody freighter in the market, and we are excited to bolster our fleet with the acquisition of these four aircraft,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer. “This significant growth opportunity will enable us to capitalize on strong demand and deliver value for our existing and prospective customers. The efficiency and capability of the 747-8F further complements our longstanding focus on leading edge technology. Dedicated freighters – like those operated by our Atlas, Polar and Southern subsidiaries – will continue to be in demand as the global airfreight market, particularly the e-commerce and express sectors, continues to grow.”

With a maximum payload capacity of 137.7 metric tonnes (137,750 kg), the 747-8 Freighter allows customers to access 20% more payload capacity while using 16% less fuel compared to previous-generation 747s. The jet also features 30% quieter engines. The 747-8 airplanes in this agreement will be the final four aircraft to roll off the production line in Everett, Washington.

“The 747 will forever hold a special place in aviation history and we are honored by Atlas Air’s longstanding commitment to the airplane. Atlas Air began operations 28 years ago with a single 747 and it is fitting that they should receive the last 747 production airplanes, ensuring that the ‘Queen of the Skies’ plays a significant role in the global air cargo market for decades to come,” said Stan Deal, president and chief executive officer of Boeing Commercial Airplanes. “With the global air cargo fleet expected to grow by more than 60% over the next 20 years, we look forward to delivering these airplanes and supporting Atlas Air’s Boeing fleet well into the future.”

Atlas Air has 53 747s in its current fleet, making it the largest 747 operator in the world. Its world-class fleet also includes 737s, 767s and 777s. The 747 and 777 models, in particular, are capable of carrying tall and outsized cargo loads on 3-meter-high (10-foot-tall) pallets. This common main-deck pallet height supports interchangeable pallets, adding to the versatility of both models.

Boeing, the market leader in air cargo aircraft, provides more than 90% of the dedicated freighter capacity around the world, including new production and converted freighters. The 747 program has produced 1,560 aircraft since launching the jumbo jet more than 50 years ago. In July 2020, Boeing announced its decision to complete production of the 747-8 in 2022.

Alaska Airlines Boosts 737 MAX Orders and Options to 120 Jets

December 22, 2020 / WIL BALDWIN

Boeing [NYSE: BA] and Alaska Airlines [NYSE: ALK] announced that the carrier is buying 23 more 737-9 airplanes, building on its original order and an agreement last month to acquire new 737-9s through lease. The new deal brings Alaska Airlines’ total 737 MAX orders and options to 120 airplanes, which will give the fifth largest U.S. carrier the scale, efficiency and flexibility to expand as air travel recovers.

“We are extremely proud to be announcing this transformative agreement with Boeing,” said Brad Tilden, CEO of Alaska Air Group. “We believe in this airplane, we believe in our strong partnership with Boeing, and we believe in the future of Alaska Airlines and the incredible opportunities ahead as we climb our way out of this pandemic.”

Alaska Airlines, a longtime Boeing 737 operator, placed an order for 32 737-9 jets in 2012 as part of its fleet modernization program. The 737-9 is a member of the 737 MAX family that is designed to offer more fuel efficiency, reliability and flexibility in the single-aisle airplane market. Last month, Alaska Airlines announced it is expanding its commitment to the 737 MAX program by leasing 13 new 737-9s while selling some A320 jets it had taken on through its acquisition of Virgin America.

The new agreement announced today will add 23 firm orders for the 737-9 and more options for future purchases. In all, Alaska will have 52 options which, if fully exercised, would take the carrier to as many as 120 737 MAX airplanes. The airline said the deal moves it toward a more efficient, all-Boeing mainline fleet that will “enhance the guest experience, improve operational performance and support the company’s growth.”

“We could not ask for a better partner than Boeing and we are delighted to be standing side by side with them as we work together to get our economy back on its feet,” said Tilden.

Alaska Airlines and Boeing leaders announced the agreement during a signing ceremony at Boeing’s delivery facility in Seattle, flanked by a new 737-9 that will be among the first such jets to be operated by Alaska Airlines. In observance of COVID-19 restrictions, both companies limited attendance at the event and addressed the pandemic that has severely affected air travel, expressing confidence in the fundamental strength of the industry and long-term passenger demand.

“Alaska Airlines has done a tremendous job of weathering the impacts from the COVID-19 pandemic, and is well positioned to return to its growth trajectory and strengthen its standing as one of the top U.S. airlines. With Alaska’s industry-leading reputation for safety, sustainability and customer service, we are honored they have chosen to invest in their future with a significant purchase of additional Boeing 737 airplanes,” said Stan Deal, president and CEO of Boeing Commercial Airplanes. “We are grateful for Alaska’s trust and partnership. Our team is focused on delivering their first 737 MAX jets and helping ensure a safe and seamless entry into service.”

Alaska Airlines says the 737 – equipped with new, more fuel-efficient engines and improved aerodynamics – will use 20% less fuel and reduce emissions by 20% per seat compared to airplanes it replaces. The airline will configure the jet with 178 seats in a three-class configuration. The plane can fly 3,550 nautical miles, about 600 miles more than its predecessor. This additional capability will allow airlines to offer new and more direct routes to passengers. Every airplane will feature the new Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

Learn more about Alaska’s confidence in the safety and certification of the MAX at alaskaair.com/737MAX.

Total orders: 68 737 MAX Aircraft

Status	Announcement Date	Number of Aircraft
Existing Order	October 2012	32
Separate Lease Agreement	November 2020	13
New Order	December 2020	23

Total options: 52 737 MAX Aircraft

Status	Announcement Date	Number of Aircraft
Existing Order	October 2012	37
New Order	December 2020	15

Boeing Awarded U.S. Navy Contract for New Zealand P-8 Training

December 15, 2020 / WIL BALDWIN

The U.S. Navy recently awarded Boeing [NYSA: BA] a Foreign Military Sales (FMS) contract, valued at $109 million, to provide P-8A Poseidon training for the Royal New Zealand Air Force (RNZAF). A suite of training systems and courseware will prepare RNZAF aircrew and maintainers to safely and effectively operate and maintain the world’s premier maritime patrol and reconnaissance aircraft for decades to come.

Boeing’s holistic P-8 training system will enable the RNZAF to conduct up to 70 percent of all Poseidon-related training in a simulated environment. As part of the contract, Boeing will provide:

Operational Flight Trainer (OFT) – Full-motion simulator incorporates all P-8 unique displays and switches.

Weapons Tactics Trainer– Simulates mission systems and tactical operations, and when coupled with the OFT, forms a Weapons Systems Trainer that enables multi-crew, high-fidelity mission rehearsal training in the same simulated environment.

Virtual Maintenance Trainer – Enables training of maintenance professionals to properly perform maintenance tasks and procedures on the P-8A aircraft.

Scenario Generation Station – Creates custom scenarios for mission training.

Brief/Debrief Station – Provides post-mission analysis and playback.

In addition, Boeing’s Electronic Classroom will give RNZAF instructors and students access to courseware and testing capabilities. Boeing also will provide initial Instructor Cadre Training to a group of RNZAF instructors, enabling them to continue training additional RNZAF P-8A instructors and aircrews following delivery of the training system in early 2024.

“This holistic training system will enable aircrew to safely train for all aspects of flying and maintaining the P-8A Poseidon,” said Tonya Noble, director of International Defense Training for Boeing. “We look forward to bringing these training capabilities in-country and working alongside the RNZAF to ensure readiness of aircrew and maintenance personnel.”

All training will be conducted in Ohakea, New Zealand. In March 2020, the RNZAF acquired four P-8A Poseidon aircraft through the U.S. Navy FMS process, with expected delivery beginning in 2023. New Zealand is one of seven nations operating the P-8.

Boeing Digital Services to Optimize Planning and Operations for Frontier Airlines

December 10, 2020 / WIL BALDWIN

Boeing (NYSE: BA) announced a new 10-year agreement with North American carrier Frontier Airlines to implement a range of crew, flight-planning and operations tools to enhance efficiency for the airline.

These digital solutions from Boeing’s Jeppesen product range provide fleet-wide cost savings across regional and international routes, enhance airline crew-planning processes and increase operational reliability.

“We are fully confident that these robust Jeppesen flight-planning and operational tools will bring tremendous benefit to Frontier’s operations from day one following implementation,” said Brad Lambert, vice president of Flight Operations for Frontier Airlines. “From maintenance and operational planning to day-of and irregular operations, the Jeppesen automation and crew-management tools will complement our low-cost business model while contributing to our system reliability and efficiency.”

In addition to its digital navigation and charting services from Boeing, Frontier Airlines will use a new Jeppesen digital solutions suite that provides day-of-operations decision-support tools, including:

– Flight-planning and scheduling services to enhance flight operations and enable on-time departures and efficient routing

– Crew management, tail assignment and operations-control tools that optimize schedules and aircraft utilization in the short- and long-term planning horizon, including day-of-operation issue detection and schedule recovery to minimize issues due to unexpected events

“As commercial aviation emerges from the COVID-19 pandemic, Frontier Airlines is poised to continue its exceptional growth, utilizing Boeing’s analytics-powered tools to maximize performance and reduce costs during this critical moment for our industry,” said Ted Colbert, president and CEO of Boeing Global Services. “This is a great example of our partnership with customers like Frontier to turn Boeing’s unparalleled digital expertise into operational bottom-line advantages.”

Frontier Airlines is committed to “Low Fares Done Right.” Headquartered in Denver, the company operates more than 100 aircraft with a route network spanning the U.S., the Caribbean and Mexico. With 160 new planes on order, Frontier will continue to grow to deliver on the mission of providing affordable travel across America.

Ryanair Orders 75 More Boeing 737 MAX Jets

December 6, 2020 / WIL BALDWIN

Boeing [NYSE: BA] and Ryanair announced today that Europe’s largest airline is placing a firm order for 75 additional 737 MAX airplanes, increasing its order book to 210 jets. Ryanair again selected the 737 8-200, a higher-capacity version of the 737-8, citing the airplane’s additional seats and improved fuel efficiency and environmental performance.

“Ryanair’s board and people are confident that our customers will love these new aircraft. Passengers will enjoy the new interiors, more generous leg room, lower fuel consumption and quieter noise performance. And, most of all, our customers will love the lower fares, which these aircraft will enable Ryanair to offer starting in 2021 and for the next decade, as Ryanair leads the recovery of Europe’s aviation and tourism industries,” said Ryanair Group CEO Michael O’Leary.

O’Leary and Ryanair leaders joined the Boeing team for a signing ceremony in Washington, D.C. Both companies acknowledged COVID-19’s impacts on air traffic in the near-term, but expressed confidence in the resilience and strength of the passenger demand over the long term.

“As soon as the COVID-19 virus recedes – and it likely will in 2021 with the rollout of multiple effective vaccines – Ryanair and our partner airports across Europe will – with these environmentally efficient aircraft – rapidly restore flights and schedules, recover lost traffic and help the nations of Europe recover their tourism industries, and get young people back to work across the cities, beaches and ski resorts of the European Union,” O’Leary said.

Ryanair is the launch customer for the high-capacity 737-8 variant, having placed its first order for 100 airplanes and 100 options in late 2014, followed by firm orders of 10 airplanes in 2017 and 25 in 2018. The 737 8-200 will enable Ryanair to configure its aircraft with 197 seats, increasing revenue potential, and reduce fuel consumption by 16 percent compared to the airline’s previous airplanes.

Boeing Responds to FAA Approval Resuming 737 MAX Operations

November 21, 2020 / WIL BALDWIN

The U.S. Federal Aviation Administration (FAA) today rescinded the order that halted commercial operations of Boeing (NYSE: BA) 737-8’s and 737-9’s. The move will allow airlines that are under the FAA’s jurisdiction, including those in the U.S., to take the steps necessary to resume service and Boeing to begin making deliveries.

“We will never forget the lives lost in the two tragic accidents that led to the decision to suspend operations,” said David Calhoun, chief executive officer of The Boeing Company. “These events and the lessons we have learned as a result have reshaped our company and further focused our attention on our core values of safety, quality and integrity.”

Throughout the past 20 months, Boeing has worked closely with airlines, providing them with detailed recommendations regarding long-term storage and ensuring their input was part of the effort to safely return the airplanes to service.

An Airworthiness Directive issued by the FAA spells out the requirements that must be met before U.S. carriers can resume service, including installing software enhancements, completing wire separation modifications, conducting pilot training and accomplishing thorough de-preservation activities that will ensure the airplanes are ready for service.

“The FAA’s directive is an important milestone,” said Stan Deal, president and chief executive officer of Boeing Commercial Airplanes. “We will continue to work with regulators around the world and our customers to return the airplane back into service worldwide.”

In addition to changes made to the airplane and pilot training, Boeing has taken three important steps to strengthen its focus on safety and quality.

Organizational Alignment: More than 50,000 engineers have been brought together in a single organization that includes a new Product & Services Safety unit, unifying safety responsibilities across the company.
Cultural Focus: Engineers have been further empowered to improve safety and quality. The company is identifying, diagnosing and resolving issues with a higher level of transparency and immediacy.
Process Enhancements: By adopting next-generation design processes, the company is enabling greater levels of first-time quality.

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