Tag: defence (Page 3 of 7)

Airbus Reports Third Quarter 2021 Results

October 28, 2021 / WIL BALDWIN

Amsterdam, 28 October 2021 – Airbus SE (Paris stock exchange symbol: AIR) reported consolidated financial results for the nine months ended 30 September 2021.

“The nine-month results reflect a strong performance across the company as well as our efforts on cost containment and competitiveness. As the global recovery continues, we are closely monitoring potential risks to our industry. We are focused on securing the A320 Family ramp up and striving to ensure the right industrial and supply chain capabilities are in place,” said Airbus Chief Executive Officer Guillaume Faury. “Based on our nine-month performance, we have updated our 2021 earnings and cash guidance. We are strengthening the balance sheet to secure investment for our long-term ambitions.

Gross commercial aircraft orders totalled 270 (9m 2020: 370 aircraft) with net orders of 133 aircraft after cancellations (9m 2020: 300 aircraft). The order backlog was 6,894 commercial aircraft on 30 September 2021. Airbus Helicopters booked 185 net orders (9m 2020: 143 units), including 10 helicopters of the Super Puma Family. Airbus Defence and Space’s order intake by value was € 10.1 billion (9m 2020: € 8.2 billion) with third quarter orders including 56 C295 aircraft for India, two A400Ms for Kazakhstan and support and spares contract renewals for the German and Spanish Eurofighter fleets.

Consolidated revenues increased 17 percent to € 35.2 billion (9m 2020: € 30.2 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to 9m 2020. A total of 424 commercial aircraft were delivered (9m 2020: 341 aircraft), comprising 34 A220s, 341 A320 Family, 11 A330s(1), 36 A350s and 2 A380s. Revenues generated by Airbus’ commercial aircraft activities increased 21 percent, largely reflecting the delivery performance compared to 2020 which was strongly impacted by COVID-19. Airbus Helicopters delivered 194 units (9m 2020: 169 units) with revenues up 14 percent reflecting growth in services as well as the higher deliveries, notably more helicopters from the Super Puma family. Revenues at Airbus Defence and Space were broadly stable year-on-year with four A400M military airlifters delivered in 9m 2021.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – was € 3,369 million (9m 2020: € -125 million).

The EBIT Adjusted related to Airbus’ commercial aircraft activities totalled € 2,739 million (9m 2020: € -641 million), mainly driven by the operational performance linked to deliveries and efforts on cost containment and competitiveness.

The A220 production rate, which is currently at 5 aircraft a month, is expected to increase to around rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by the middle of the decade. On the A320 Family programme, the Company is working to secure the ramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023. The recent commercial successes of the A330 programme enable a monthly rate increase from around 2 to almost 3 aircraft at the end of 2022. The A350 programme is expected to increase from around 5 to around 6 aircraft a month in early 2023.

Airbus Helicopters’ EBIT Adjusted increased to € 314 million (9m 2020: € 238 million), driven by services, programme execution and lower spending on Research & Development (R&D).

EBIT Adjusted at Airbus Defence and Space increased to € 284 million (9m 2020: € 266 million), mainly reflecting the Division’s efforts on cost containment and competitiveness.

Consolidated self-financed R&D expenses totalled € 1,919 million (9m 2020: € 2,032 million).

Consolidated EBIT (reported) amounted to € 3,437 million (9m 2020: € -2,185 million), including net Adjustments of € +68 million.

These Adjustments comprised:

€ +190 million related to the A380 programme, of which € +45 million were booked in Q3;
€ -165 million related to the dollar pre-delivery payment mismatch and balance sheet revaluation, of which € +5 million were in Q3;
€ +43 million of other Adjustments, including compliance costs, of which € -6 million were in Q3.

The financial result was € -172 million (9m 2020: € -712 million). It mainly reflects the net interest result of € -233 million partly offset by € +63 million related to the revaluation of the Dassault Aviation equity stake. Consolidated net income(2) was € 2,635 million (9m 2020 net loss: € -2,686 million) with consolidated reported earnings per share of € 3.36 (9m 2020 loss per share: € -3.43).

Consolidated free cash flow before M&A and customer financing was € 2,260 million (9m 2020: € -11,798 million), reflecting efforts on cash containment and also included a positive phasing impact from working capital. Consolidated free cash flow was € 2,308 million (9m 2020: € -12,276 million).

On 30 September 2021, the gross cash position stood at € 21.7 billion (year-end 2020: € 21.4 billion) with a consolidated net cash position of € 6.7 billion (year-end 2020: € 4.3 billion). The Company’s liquidity position remains strong, standing at € 27.7 billion at the end of September 2021. Given the increase in the net cash position and the robust liquidity, a decision was taken not to renew the undrawn € 6.2 billion Supplemental Liquidity Line which matured in September. In the meantime, the maturity of the € 6 billion Revolving Syndicated Credit Facility has been extended by a year.

Outlook

As the basis for its 2021 guidance, the Company assumes no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services.

The Company’s 2021 guidance is before M&A.

On that basis, the Company has updated its 2021 guidance and now targets to achieve in 2021 around:

600 commercial aircraft deliveries;
EBIT Adjusted of € 4.5 billion;
Free Cash Flow before M&A and Customer Financing of € 2.5 billion.

Rolls-Royce Agrees to Sell AirTanker Stake to Equitix Investment Management Limited

September 14, 2021 / WIL BALDWIN

Rolls-Royce (OTC: RYCEY) announces the agreed sale of its 23.1% shareholding in AirTanker Holdings Limited to Equitix Investment Management Limited for cash proceeds of £189m, including the repayment of shareholder loans and accrued and deferred interest of approximately £47m, subject to any routine closing adjustments and before transaction costs. The transaction is expected to complete by the end of the first quarter of 2022, subject to regulatory approvals. There is no merger control condition. Proceeds will be used to reduce net debt. Remaining AirTanker shareholders have pre-emption rights over the Rolls-Royce shares and loan notes.

AirTanker Holdings Limited, a joint venture with Airbus, Babcock, and Thales, owns 14 A330-200 Voyager aircraft which are powered by Trent 772B engines, a derivative of the Trent 700 engine. The Voyager aircraft support air-to-air refuelling, air transport and ancillary services for the UK Ministry of Defence. This fleet is operated by AirTanker Services Limited, in which we will continue to be a 23.5% shareholder. We will also continue to provide servicing and maintenance for the fleet of Rolls-Royce engines that power the Voyager aircraft to support the Royal Air Force.

The Republic of Kazakhstan Orders Two Airbus A400M Aircraft

September 1, 2021 / WIL BALDWIN

Getafe, Spain, September 1, 2021 – The Republic of Kazakhstan has placed an order for two Airbus A400M aircraft and becomes the ninth operator together with Germany, France, United Kingdom, Spain, Turkey, Belgium, Malaysia and Luxembourg.

With delivery of the first aircraft scheduled in 2024, the contract includes a complete suite of maintenance and training support. Together with the agreement a Memorandum of Understanding has also been signed to collaborate on Maintenance and Overhaul services and with a first step of creating a local C295 maintenance centre.

With the capacity to accommodate the country’s inventory and conduct military, civil and humanitarian missions, the A400M will enable Kazakhstan to quickly respond to any mission by rapidly deploying game-changing capabilities over long distances and enabling effective access to remote areas.

Airbus to Show A350-1000 for First Time in Russia at MAKS 2021 Aerospace Show

July 10, 2021 / WIL BALDWIN

Airbus will demonstrate its latest technological innovations and projects implemented in Russia at the International Aerospace Show which takes place in Zhukovsky from 20th to 25th July. Key attractions will be the last-generation widebody A350-1000, which will be shown in the country for the first time, and the twin-engine EC145 rotorcraft.

The A350-1000 is the largest member of the clean sheet design A350 widebody Family, with a seating capacity of up to 440 passengers in a single class. The aircraft’s state-of-the-art aerodynamics, inspired by nature, incorporates a unique morphing technology that continuously optimises the wing profile to reduce drag and lower fuel burn and CO2 emissions. The aircraft is powered by Rolls Royce Trent XWB 97 engines with 15% increased thrust, the aircraft can fly up to 16,100km. More than 70% of the airframe is made from advanced materials, including 53% composites. Aeroflot already operates 6 A350-900.

The Airbus A350-1000 will also take part in the flight programme of MAKS-2021 aerospace show from 20 to 22 of July.

Another highlight on static display will be the EC145 helicopter – one of the 5 EC145, owned by the city of Moscow and operated by the Moscow Aviation Centre (MAC). Airbus Helicopters and the Moscow Aviation Centre have been cooperating for more than 14 years. During this period, the MAC AH fleet has contributed to saving the lives of more than 6,400 patients in the territory of Moscow. Easy access to the cockpit through wide, side-sliding doors or through the rear doors, a spacious cabin, and high reliability make this helicopter the preferred choice for medical missions.

The Airbus Defence and Space division is known for its long-term cooperation with Russian enterprises. Together with Russian colleagues, they implemented several international projects under the Automated Transfer Vehicle (ATV) and International Space Station programmes, as well as cooperation with the Russian OKB “Fakel” in terms of building the satellites for the OneWeb constellation. The Space division of Airbus is the only Western space division that has a proven track record in industrial localisation of production in the Russian Federation. Airbus Defence and Space will demonstrate samples of localised production and future power amplifiers proposed for further development. Another promising area, both international and Russian, is the global information system and services based on data from Earth Remote Sensing (ERS) satellites.

The Defence and Space division will also demonstrate space equipment produced by the joint venture Airbus DS and JSC Russian Space Systems, and the Airbus engineering centre in Moscow, ECAR, will demonstrate the results of its work and current projects.

Airbus Built European Robotic Arm Ready for Space

July 5, 2021 / WIL BALDWIN

Airbus (OTC: EADSY) space engineers have installed ESA’s European Robotic Arm (ERA) onto the Russian Multipurpose Laboratory Module (MLM) and it is now ready for its flight to the International Space Station (ISS). Together with this module, known as ‘Nauka’, ERA and its two control stations will launch from the Baikonur Cosmodrome, in Kazakhstan, on a Proton rocket.

After a one-week journey the European Robotic Arm will arrive at the ISS, where it will service the Russian segment of the space station. With a total length of 11.3 metres, the symmetrical, two-handed intelligent robot arm can ‘walk’ around the exterior of the ISS, hand-over-hand from one fixed base-point to another. ERA’s seven robust and accurate joints, the lightweight limbs and the control computer in the middle of the arm give the robot arm its versatility.

Astronauts and cosmonauts can control the European Robotic Arm in real-time or pre-programme it from inside or outside of the ISS, to make it move payloads, inspect the space station with its infrared cameras and to support operations outside the ISS. From its tip, the robot provides electrical power, a data bus, a video line and a rotating drive machine. By connecting a tool to the tip, ERA can be equipped for one of the many tasks it can perform automatically or semi-automatically. ERA has a lightweight construction but thanks to the zero-gravity conditions in space, it can move very large masses: from 3,000 kg routinely up to 8,000 kg in slow modus. The robot arm operates with an accuracy of 5 millimetres.

ERA has been developed for European Space Agency (ESA) by a European consortium, led by Airbus Defence and Space in the Netherlands. Airbus designed the arm and its software functions, managed the development of subsystems throughout Europe and integrated and tested the system. In the last few months Airbus has integrated ERA on the MLM, together with ESA and Russian partners RSC/Energia.

Boeing Awarded Contract to Deliver 14 Chinook Helicopters to the Royal Air Force

June 22, 2021 / WIL BALDWIN

U.S. Special Operations Command awarded Boeing [NYSE: BA] a $578 million Foreign Military Sales contract approved by the U.S. Department of State to deliver 14 extended-range Chinook helicopters to the UK Royal Air Force (RAF).

The extended range Chinook gives the RAF fleet more versatility to execute the domestic and international heavy-lift missions that only the Chinook can facilitate.

Boeing and the RAF recently celebrated the 40th anniversary of the first Chinook delivery to the UK. Boeing will also celebrate the 60th anniversary of the Chinook’s first flight later this year.

The United Kingdom will be the first international operator of a Block II Chinook. Deliveries are scheduled to start in 2026.

Boeing has more than 4,600 employees in Pennsylvania supporting the Chinook, the V-22 Osprey, the MH-139A Grey Wolf and a number of services and engineering efforts. Including suppliers and vendors, Boeing’s activities support an estimated 16,000 jobs in Pennsylvania.

The Chinook fleet for the UK Ministry of Defence (MOD) supports more than 450 highly skilled jobs across the UK. Boeing colleagues provide maintenance and services support at Gosport, MOD Boscombe Down, and are embedded alongside the military at RAF Odiham.

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.

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

May 25, 2021 / WIL BALDWIN

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

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

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

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

Click the link below to read the full story!

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

Airbus A400M Conducts Major Helicopter Refueling Certification Program

April 19, 2021 / WIL BALDWIN

Getafe 19 April 2021 – The Airbus A400M new generation airlifter has successfully conducted a major helicopter air-to-air refueling certification campaign, completing the majority of its development and certification objectives. Airbus Defence and Space aims to achieve full helicopter air-to-air refuelling certification later this year with the conclusion of all mandatory night operation trials.

The flight tests, performed in coordination with the French Armament General Directorate (DGA), involved operations with two French Air Force H225M helicopters.

The campaign took place in day and night conditions over the west coast of France at between 1,000 ft and 10,000 ft and flight speeds as low as 105 knots. During those flights, a total of 81 wet contacts and transfers of 6.5 tonnes of fuel were achieved, which included simultaneous refuelling of two helicopters for the first time. The tests confirmed the positive results of the dry and wet contact operations conducted in 2019 and 2020.

Helicopter air-to-air refuelling is a unique military capability and key for Special Forces operations, involving aircraft with different flight profiles and sharing a very limited common flight envelope, requiring close formation flying patterns at low altitudes and night time conditions.

With this capability the A400M becomes one of the few tanker aircraft in the world capable of such operations. The multi-purpose H225M is one of the few helicopters in the world capable of in-flight refuelling, extending the standard 700 NM range by up to 10 hours flight time.

A400M as tanker

The A400M is certified as standard to be quickly configured as a tanker. Carrying up to 50.8 tonnes of fuel in its wings and centre wing box, without compromising any cargo hold area, two additional cargo hold tanks can also be installed, providing an additional 5.7 tonnes of fuel each. The separate cargo-hold tanks allows for the use of different types of fuel, enabling the A400M to cater for the needs of different types of receiver aircraft.

As a tanker, the A400M has already demonstrated its ability to refuel fighter receivers such as Eurofighter, Rafale, Tornado or F/A-18 at their preferred speeds and altitudes, and is also able to refuel other large aircraft such as another A400M for buddy refuelling, C295 or C-130.

Japan Coast Guard and Singapore Add Airbus H225 Helicopters

April 9, 2021 / WIL BALDWIN

Japan Coast Guard (JCG) will expand its fleet with two new Airbus (OTC: EADSY) H225 helicopters, taking its total Super Puma fleet up to 17, comprising two AS332s and 15 H225s. The largest Super Puma operator in Japan received its tenth H225 in February this year. The new helicopters will join its growing fleet to support territorial coastal activities, security enforcement, as well as disaster relief missions in the country.

JCG’s H225 fleet is covered by Airbus’ highly adaptive HCare Smart full-by-the-hour material support. This customised fleet availability programme allows the national coast guard agency to focus on its flight operations whilst Airbus manages its assets

Offering the industry’s best range, speed, payload and reliability in the 11-ton-category twin-engine rotorcraft, the H225 is the latest member of Airbus Helicopters’ Super Puma family that has accumulated more than 5.7 million flight hours in all-weather conditions around the world. Equipped with state-of-the-art electronic instruments and renowned autopilot precision, the H225 offers outstanding endurance and fast cruise speed, and can be fitted with various equipment to suit a variety of roles.

Close to 30 helicopters from the Super Puma family are currently flown in Japan by civil, parapublic operators, and Japan’s Ministry of Defense for various search and rescue missions, VIP, fire-fighting, and passenger and goods transportation.

Also, the Republic of Singapore Air Force (RSAF) has taken delivery of its first H225M helicopter. Airbus Helicopters signed the contract with Singapore’s Ministry of Defence for the acquisition of H225M Medium Lift Helicopters in 2016.

Singapore’s fleet of H225Ms is expected to assume a wide range of roles, including search and rescue, aeromedical evacuation, as well as humanitarian assistance and disaster relief operations.

A combat-proven multi-purpose and versatile asset, the H225M enables military forces to deploy wherever and whenever needed. 104 H225Ms are currently in service across the world, having accumulated more than 143,000 flight hours. The H225M is relied upon by Brazil, France, Indonesia, Malaysia, Mexico Thailand to support their most demanding missions.

Airbus, Fujitsu & Thales Team Up On British Army Future Communication Program

March 9, 2021 / WIL BALDWIN

London, 9 March 2021 – Airbus, Fujitsu and Thales UK have signed a memorandum of understanding (MOU) to work collaboratively on the upcoming Systems Integrator (SI) opportunity for the UK Ministry of Defence (MOD), Land Environment Tactical Communications and Information Systems programme – known as LE TacCIS.

Following the signature of the MOU, the partners have formed team ICELUS led by Airbus that will bring together a trusted collective of MOD strategic partners who have a unique breadth of expertise of defence communications networks. ICELUS will offer pioneering change through a coherent systems integration approach to ultimately deliver operational effectiveness and information advantage to the end user, whilst sustaining a UK centric, defence industrial base. The three partners will be able to jointly explore how their respective unique expertise and solutions can be combined in order to put forward the best-possible proposals with regard to capabilities and competitiveness for this major programme.

ICELUS will focus on the upcoming LE TacCIS System Integrator (SI) opportunity to lead on the design and integration of the products & services for applications, infrastructures and networks. The LE TacCIS System Integrator is expected to be contracted by 2023/2024.

The LE TacCIS programme consists of multiple sub-programmes and projects with the aim to deliver the next generation of tactical military communications in the land environment, providing the means to make informed and timely decisions enabled by agile Communication Information Systems (CIS).

LE TacCIS is designed to be resilient, working securely in a congested and contested cyber battlespace. It will degrade gracefully and recover when attacked, continuing to provide essential Command and Control (C2) services and capabilities. It will integrate with other systems to allow the quick and easy sharing of information between platforms and weapon systems, delivering full-spectrum, multi-domain effects.

In contrast to the current system’s single source prime supplier model, elements of the LE TacCIS programme will be competed from industry who will be incentivised to deliver increased system agility, capability and value for money.

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