Tag: cost (Page 3 of 16)

Surf Air Mobility Announces the Successful Completion of Southern Airways Acquisition

August 6, 2023 / WIL BALDWIN

Los Angeles, California – August, 2023 – Surf Air Mobility Inc. (SAM), a regional platform aiming to sustainably connect the world’s communities, announced that the it has completed the acquisition of Southern Airways (“Southern”) immediately prior to its listing on the New York Stock Exchange under the ticker symbol SRFM on July 27, 2023. The combination of Surf Air Mobility and Southern will provide the basis for SAM’s anticipated expanded, nationwide regional air mobility platform. Following the close of the transaction on July 27, 2023, Surf Air Mobility has 69,742,981 basic shares and 71,603,186 fully diluted shares outstanding.

Surf Air Mobility intends to accelerate the adoption of green flying by developing, together with its commercial partners, hybrid-electric and fully-electric powertrain technology to upgrade existing fleets. By creating a financing and services infrastructure to enable this transition at an industry-wide level, Surf Air Mobility believes it can bring electrified aircraft to market at scale and substantially reduce the cost and environmental impact of regional flying. Surf Air Mobility believes such cost and environmental impact reductions are achievable by the end of the decade, and that operating as a publicly-traded company and having efficient access to growth capital will enable and accelerate the implementation of its strategic plan.

Surf Air Mobility also announced that it will release its financial results for the second quarter of 2023 and provide outlook for the full year 2023 the week of August 14, 2023.

Mitsubishi Heavy Industries Achieves Significant First Quarter Increase in Orders and Profit

August 6, 2023 / WIL BALDWIN

Tokyo, Japan – Mitsubishi Heavy Industries (OTC: MHVYF) announced that order intake rose 75.1% year over year to 1.6 billion Yen in the quarter ended June 30, 2023. Revenue rose 12.9%, resulting in profit from business activities (business profit) of 51.9 billion Yen, a 248.1% increase from the previous fiscal year, which represents a profit margin of 5.3%. Profit attributable to owners of parent (net income) was 53.1 billion Yen, an increase of 177.1% year-over-year, with a profit margin of 5.4%. EBITDA was 85.1 billion Yen, an 80.3% increase from Q1 FY2022, with an EBITDA margin of 8.7%, up 3.3 percentage points year-over-year.

Large orders growth in Energy Systems was driven by Gas Turbine Combined Cycle (GTCC), which continues to see strong demand for both new builds and after-sales services. Business profit in the segment increased by 27.0 billion Yen due to a reduction in one-time charges in the Thermal Power businesses as well as revenue growth and improved project margins.

In Plants & Infrastructure Systems, revenue increased by 33.8 billion Yen due to contributions from Metals Machinery and Engineering, while business profit improved by 5.0 billion resulting from increased revenue in Metals Machinery as well as positive developments in Engineering and Machinery Systems’ project mix.

In Logistics, Thermal & Drive Systems, successful passthrough of cost inflation to sales prices mainly in Logistics Systems and Heating, Ventilation & Air Conditioning (HVAC) led to 14.3% increases in order intake and revenue, respectively. Cost passthroughs in these businesses also helped to raise the segment’s business profit by 15.3 billion Yen.

Most notable this quarter is the striking growth in Aircraft, Defense & Space order intake, specifically in Defense & Space, which saw orders rise by 584.1 billion Yen. This is due to large orders for missile defense systems from Japan’s Ministry of Defense as the country seeks to improve its capabilities in this area.

Wizz Air orders a further 75 A321neo Family aircraft

August 2, 2023 / WIL BALDWIN

Toulouse, France, August 2, 2023 -Wizz Air (OTC: WZZZY), the fastest growing European ultra-low-cost airline, has signed a firm contract for an additional 75 Airbus (OTC: EADSY) A321neo Family aircraft, taking its total order for the largest member of the Airbus single aisle to 434, and for Wizz’s A320 Family overall to 565 aircraft.

Wizz Air is an all Airbus operator with a fleet of over 180 A320 Family aircraft currently in operation.

The A321neo is the largest member of Airbus’ A320neo Family, offering unparalleled range and performance. By incorporating new generation engines and Sharklets, the A321neo brings a 50 percent noise reduction and more than 20 percent fuel savings and CO2 reduction compared to previous generation single-aisle aircraft, while maximizing passenger comfort in the widest single-aisle cabin in the sky. To date nearly 5,200 A321neos have been ordered by customers across the globe.

Volvo Cars Q2 results shows transformation proceeding full speed ahead

July 20, 2023 / WIL BALDWIN

Volvo Cars (OTC: VLVLY) today reports a 39 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.4 bn and a corresponding EBIT margin of 6.3 per cent for the second quarter of 2023. The result came despite a SEK 0.9 bn, non-recurring item related to the redundancy programme announced in May, part of securing a more efficient and sustainable cost base for the future. Without this item, the underlying EBIT margin, excluding joint ventures and associates, was 7.2 per cent in the second quarter. This illustrates that the solid underlying performance momentum from the first three months of the year continued during this past quarter.

Click the link below to read the entire press release!

https://www.media.volvocars.com/global/en-gb/media/pressreleases/316863/volvo-cars-q2-results-full-speed-ahead-in-transformation-with-a-solid-business-performance

Icelandair becomes new Airbus customer with order for 13 Airbus A321XLR

July 6, 2023 / WIL BALDWIN

Toulouse, France, 06 July 2023 – Icelandair, the main Icelandic airline based in Keflavik, has placed a firm order for 13 Airbus A321XLR. The order makes Icelandair a new Airbus customer. The airline is also planning to lease four A321LR’s.

With its extra long range, the A321XLR will allow Icelandair to seize new market opportunities. The aircraft will also enable the airline to reduce its operating costs, support its sustainability targets and at the same time offer its passengers the best in cabin comfort.

The A321XLR is the next evolutionary step forward from the A320neo responding to market needs for even more range and payload, and creating more value for the airlines. It will deliver an unprecedented Xtra Long Range of up to 4,700nm – 15% more range than the A321LR and with 30% lower fuel burn per seat compared with previous generation competitor aircraft, as well as reduced NOx emissions and noise. For passengers, the A321XLR’s new Airspace cabin will provide the best travel experience, while offering seats in all classes with the same high-comfort as on a long-haul wide-body, with the low costs of a single-aisle aircraft. By the end of May 2023, the A320neo Family had accumulated more than 8,750 orders from 136 customers worldwide.

HK Express Receives First Airbus A321neo

April 3, 2023 / WIL BALDWIN

Airbus announced the successful delivery of its first Airbus A321neo to the low-cost carrier HK Express, a member of Cathay Pacific Group (OTC: CPCAY), based in Hong Kong.

This milestone marks the first of 16 A321neo aircraft for HK Express and features the airline’s latest livery, with vibrant shades of purple and white. In addition, the aircraft’s winglets and empennage spots an “e” shaped journey symbol, which evokes the start of a pleasant journey with HK Express.

HK Express’ A321neo is powered by CFM International LEAP-1A engines and can seat up to 236 passengers in Airbus’ award-winning Airspace cabin, which brings unique lighting displays, more personal space and a sleek design to improve passenger experience.

HK Express is an all-Airbus operator, with its current fleet comprising 27 A320 Family aircraft, including 11A321ceo, 10 A320neo, five A320ceo and its first A321neo.

The A321neo is part of the A320neo Family, which incorporates new generation engines and Sharklets, together delivering more than 20 percent fuel and CO2 savings, as well as a 50 percent noise reduction.

To date, the A320neo Family has received more than 8,600 firm orders from over 130 customers worldwide.

Air Force Awards Boeing 5-year Contract for Continued Aircraft Guidance and Navigation Repair

February 9, 2022 / WIL BALDWIN

HEATH, Ohio, Feb. 8, 2021 — Boeing (NYSE: BA) will continue to provide the U.S. Air Force with guidance and navigation repair work on a variety of aircraft under a 5-year, $91 million sole-source contract.

The company has serviced components for aircraft including the B-2 Spirit, B-52 Stratofortress, E-3 Sentry and F-15 Eagle at the Boeing Guidance Repair Center in Heath, Ohio, since 1996.

The Boeing Guidance Repair Center is responsible for maintaining the readiness and modernization of guidance and navigation systems for U.S. nuclear-capable platforms, as well as non-nuclear capable guidance and control systems, electronics and radio frequency systems, and platform processors. In addition, the center is home to assembly, integration and test activities for several Boeing production programs, including the KC-46 tanker, T-7A Red Hawk and the MQ-25 unmanned aircraft system.

A Boeing 737-7 and 737-8-200 (Boeing Photo)

Allegiant Air Orders Up to 100 737 MAX Jets

January 5, 2022 / WIL BALDWIN

Seattle, Washington, January 5, 2022 /PRNewswire/ – Boeing [NYSE: BA] and Allegiant Air (NASDAQ: ALGT) today announced an order for 50 737 MAX jets, with options for 50 additional airplanes. In Boeing’s first U.S. ultra-low cost carrier (ULCC) deal, Allegiant selected two models – the 737-7 and 737-8-200 – in the 737 MAX family, which provide the lowest seat-mile costs for a single-aisle airplane and high-dispatch reliability.

With commonality and improved fuel efficiency, the 737 MAX family enables airlines to optimize their fleets across a broad range of missions. The 737-7 provides low-operating costs that enable carriers to open new routes with less economic risk, and the larger 737-8-200 offers added revenue potential and is right-sized for ULCC market expansion. Compared to Allegiant’s current fleet, the new 737 models will reduce fuel use and carbon emissions by 20%.

Boeing and Allegiant will partner on entry-into-service support, enabling a smooth transition as the carrier adds the 737 into its operation. Allegiant will also utilize a suite of Boeing Global Services digital tools to further enhance operational efficiency. Allegiant currently operates a fleet of 108 Airbus A319 and A320 airplanes.

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

777 Partners Orders 30 Additional Boeing 737 MAX Airplanes

December 10, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and 777 Partners have announced the Miami-based investment firm will nearly double its 737 MAX order book with the purchase of 30 additional jets. The new order expands 777 Partners’ commercial aircraft portfolio to a total of 68 737 MAX’s, in its fourth order this year for the fuel-efficient, single-aisle jets. Valued at $3.7 billion at list prices, the order will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.

The 737 MAX family reduces fuel use and carbon emissions by at least 14% compared to the airplanes it replaces, reducing operating costs as well as the environmental footprint for 777 Partners’ affiliated airlines. Every 737 MAX features a passenger-pleasing 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.

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.

Cebu Pacific Receives its First Airbus A330neo

November 30, 2021 / WIL BALDWIN

Cebu Pacific has taken delivery of its first A330neo as it begins its widebody fleet modernization program. The aircraft is configured with 459 seats in single-class layout and will be operated by the airline on trunk routes within the Philippines and the rest of Asia, as well as on longer range services to Australia and the Middle East. The A330neo offers versatility for a wide range of routes from shorter regional services to medium and long haul operations.

Altogether Cebu Pacific has ordered 16 A330neo, and also has 16 A320neo and 22 A321neo outstanding to be delivered. The low-cost carrier currently operates 50 Airbus aircraft, comprising 43 A320 Family and 7 A330ceo.

The aircraft is powered by Rolls-Royce’s latest-generation Trent 7000 engines and features a new composite wing with increased span for enhanced aerodynamics.

The A330neo brings a step change in efficiency, consuming 25% less fuel than previous generation aircraft and a similar reduction in CO2 emissions. The outstanding efficiency of the A330neo also ensures compliance with current and future sustainability requirements in terms of noise and emissions

With an order book of more than 1,800 aircraft at the end of October 2021, the A330 remains the most popular widebody family aircraft of all time.

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