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Airbus Reports Third Quarter 2021 Results

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.

United Rotorcraft Awards Sikorsky Contract for Five S-70 Black Hawk Helicopters

ENGLEWOOD, Colorado – August 26, 2021 – United Rotorcraft, an Air Methods Corporation division, has awarded Sikorsky, a Lockheed Martin company (NYSE: LMT), a contract for five S-70 Black Hawk helicopters. The bulk order will enable United Rotorcraft, as the only company authorized by Sikorsky to modify Black Hawk aircraft to the FIREHAWK configuration, to quickly deliver these new production aircraft for aerial firefighting in support of public agencies battling increasingly destructive wildland fires.

Sikorsky will produce the five S-70 Black Hawk aircraft at Lockheed Martin’s PZL Mielec manufacturing line in Poland. Deliveries to United Rotorcraft’s 55,000+ square foot completions facility in Colorado are expected between early 2022 and mid-2023. The first aircraft received will be configured as a FIREHAWK helicopter for the State of Colorado, which announced its contract with United Rotorcraft on Aug. 16.

To modify a Black Hawk helicopter to the Firehawk configuration, United Rotorcraft installs and integrates a 1,000-gallon (3,785-liter) external water tank system to the aircraft’s belly. Fingertip controls allow pilots to drop the precise amount of water with high accuracy and refill the tank via a retractable snorkel in 60 seconds or less while hovering 10 feet over a water source. United Rotorcraft works hand in hand with public agencies to further customize the aircraft, as needed, from communications and navigation systems, to cabin interiors, transforming the FIREHAWK into a true multi-mission aircraft, with the ability to transport up to 12 firefighters, provide medical care on board, or perform search and rescue operations.

Thirteen S-70 FIREHAWK helicopters currently fighting fires across California are operated by CALFIRE, Los Angeles County Fire Department, and San Diego Fire Rescue Department. Five more contracted aircraft are on the way.

Honeywell Technology For Drones Increases Range With Hydrogen Fuel Cells

PHOENIX, Aug. 18, 2021 /PRNewswire/ — Honeywell (NASDAQ: HON) is developing a new technology suite for light drones that allows them to fly three times longer and with less human intervention. Compared with traditional drones using batteries and line-of-sight radio links, drones equipped with Honeywell’s Beyond Visual Line of Sight (BVLOS) technologies can fly farther, carry more weight, avoid hazards up to three kilometers away and stream video of their progress anywhere in the world.­

Honeywell’s BVLOS (pronounced bev-loss) systems are ideal for missions where distance or terrain interfere with radio links or visual guidance. Applications include last-mile package delivery, military intelligence, surveillance and reconnaissance, pipeline and power line inspection, search and rescue, or use by first responders.

The technologies draw upon Honeywell’s decades of experience building and certifying avionics, engines, and APUs for airplanes, helicopters and military drones.

The BVLOS suite comprises:

  • Honeywell’s 600-watt and 1200-watt hydrogen fuel cells
  • Honeywell’s RDR-84K multipurpose radar
  • Honeywell’s inertial measurement units (IMUs)
  • Honeywell’s UAV Satcom – the world’s smallest and lightest satellite transceiver

The fuel cells in the BVLOS suite operate three times longer than batteries with equivalent output. They work silently, unlike gasoline engines, and emit no greenhouse gases. Operators can refuel or swap hydrogen tanks in minutes, enabling more time in the air.

Honeywell’s RDR-84K is a phased-array radar that steers beams electronically, meaning it has no moving parts and requires minimal maintenance. It also requires no heavy cooling systems.

In addition to avoiding other aircraft, the radar can detect obstacles, map terrain and identify landing zones. It can act as a radar altimeter and provide mapping for alternate navigation if GPS guidance fails.

The BVLOS suite will allow drone designers to combine data in clever new ways to save weight and power. Its radar computes an avoidance path using built-in circuitry, rather than requiring a separate processor. Its satellite uplink can be used to download real-time weather and traffic reports from other drones.

Honeywell’s UAV Satcom and IMUs are available now, with some IMU models priced as low as $1,800. The RDR-84K and fuel cells are in late-stage development, and prototype fuel cells are available for purchase and evaluation now.

ADAC Luftrettung Takes Delivery of First Two Five Blade Airbus H145 Helicopters

ADAC Luftrettung, one of Europe’s biggest Helicopter Emergency Medical Services (HEMS) operators, has taken delivery of its first two five-bladed H145s. Furthermore, the German HEMS operator will upgrade its current fleet of 14 four-bladed H145s to the five-bladed rotor system.

ADAC Luftrettung operates more than 50 Airbus helicopters from their 37 stations throughout Germany. In June, an ADAC H145 was the first HEMS helicopter to fly with sustainable aviation fuel.

The new version of Airbus’ best-selling H145 light twin-engine helicopter was unveiled at Heli-Expo 2019 in Atlanta. This latest upgrade adds a new, innovative five-bladed rotor to the multi-mission H145, increasing the useful load of the helicopter by 150 kg. The simplicity of the new bearingless main rotor design will also ease maintenance operations, further improving the benchmark serviceability and reliability of the H145, while improving ride comfort for both passengers and crew. The helicopter’s high-mounted tail boom and wide opening clam-shell doors facilitate access to the H145’s spacious cabin.

Powered by two Safran Arriel 2E engines, the H145 is equipped with full authority digital engine control (FADEC) and the Helionix digital avionics suite. It includes a high performance 4-axis autopilot, increasing safety and reducing pilot workload. Its particularly low acoustic footprint makes the H145 the quietest helicopter in its class.

Today, Airbus has more than 1,470 H145 family helicopters in service around the world, logging a total of more than six million flight hours. For HEMS alone, there are more than 470 helicopters of the H145 family conducting air rescue missions worldwide.

U.S. Navy Awards Sikorsky Contract for Nine More CH-53K Heavy Lift Helicopters

Utilizing proven advanced manufacturing techniques and continuing to drive down unit price, Sikorsky will build nine more CH-53K™ heavy lift helicopters under a new contract for the U.S. Navy. This production award also includes an agreement for the next production contract at an even lower unit price which will decrease further if additional quantity options are exercised, resulting in significant savings for the U.S. government and taxpayers.

The nine helicopters are part of a 200 aircraft Program of Record for the U.S. Marine Corps for a  total of 33 production aircraft under contract with 3 of the 33 already delivered to the U.S. Marine Corps. Sikorsky will begin deliveries of the nine additional aircraft in 2024.

Sikorsky and the U.S. Navy also agreed to an even lower aircraft price for the next production contract of nine helicopters, to be exercised no later than February 2022.

Click the link below to read the full story!

https://news.lockheedmartin.com/2021-06-28-U-S-Navy-Awards-Sikorsky-Contract-to-Build-Nine-More-CH-53K-TM-Heavy-Lift-Helicopters-in-Connecticut#assets_all

MD Helicopters Secures $43.9 Million in Army Contracts

MD Helicopters, Inc. (MDHI) announces two independent contract awards worth $43.9 million from Army Contracting Command-Redstone supporting the Afghan Air Force’s MD 530F Cayuse Warrior light attack helicopters.

The first contract, a six-month extension worth $14.5 million, continues MDHI’s longstanding efforts to provide program management, and contractor logistics support (CLS) services, material, and remote operations to support the Afghan fleet. Work will take place in Mesa, Arizona; Kabul, Afghanistan; and Al-Ain, United Arab Emirates. The contract was awarded on May 28, 2021.

The second contract, worth $29.4 million, modifies MDHI’s original maintenance capabilities support contract. Under this six-month contract, MD Helicopters will provide continued maintenance, repairs, updates, and overhauls of the Afghan Air Force’s MD 530F Cayuse Warrior helicopters in Mesa, Kabul, and Al-Ain. The contract was awarded on June 10, 2021.

The enhanced MD 530F Cayuse Warrior is a light armed attack helicopter respected for its power, safety, speed, agility, and unparalleled confined area capabilities. The aircraft supports a wide range of training and operational missions, providing safe, efficient multi-mission support with an increased performance profile.

SAF Orders Three H145 Airbus Helicopters for EMS Missions in France

Marignane,France 16 June 2021 – SAF Group will be operating three more five-bladed Airbus H145 helicopter’s for emergency medical services (EMS). These three aircraft will be based in Grenoble, Valence, and Montpellier. They will complement the three H145s already ordered by SAF in 2018 and 2020, the first of which was delivered recently and will be deployed for EMS missions in Belgium.

SAF is a key actor of EMS in France and Europe. This French company already operates 55 Airbus helicopters. SAF’s fleet includes a Super Puma, H135s and H125s. The H145 will bring increased capabilities for the EMS missions.

The new version of Airbus’ best-selling H145 light twin-engine helicopter was unveiled at Heli-Expo 2019 in Atlanta in March. This latest upgrade adds a new, innovative five-bladed rotor to the multi-mission H145, increasing the useful load of the helicopter by 150 kg. The simplicity of the new bearingless main rotor design will also ease maintenance operations, further improving the benchmark serviceability and reliability of the H145, while improving ride comfort for both passengers and crew. The helicopter’s high-mounted tail boom and wide opening clam-shell doors facilitate access to the H145’s spacious cabin.

Today, Airbus has more than 1,470 H145 Family helicopters in service around the world, logging a total of more than six million flight hours. For EMS alone, there are more than 470 helicopters of the H145 family conducting air rescue missions worldwide.

French Navy Exercises Option for Two Additional Airbus H160 Helicopters

The French Armament General Directorate (DGA) has confirmed an option to Airbus Helicopters, Babcock and Safran Helicopter Engines for two more H160s for the French Navy. These aircraft will join the fleet of four H160s already contracted in 2020, the first of which is currently being assembled by Airbus Helicopters in Marignane, in the south of France. The six H160s will be delivered in a Search and Rescue (SAR) configuration and will gradually start operating from May 2022 from Lanveoc-Poulmic naval air station (Britany), Cherbourg airport (Normandy) and Hyères naval air station (Provence). Awaiting the H160M “Guépard” deliveries in the frame of the French Joint Light Helicopter (Hélicoptère Interarmées Léger: HIL) programme, these H160s will take over the SAR missions  currently conducted by the NH90s and Panthers , allowing these combat helicopters to fulfill their main tasks at sea on board combat vessels.

The French Navy’s operational feedback with these H160s will benefit the design of the military version of the aircraft and its associated support system.

The H160s were ordered by Babcock in 2018 and will be maintained and equipped in partnership with Airbus Helicopters, and Safran Helicopters Engines ensuring the highest level of availability for the French Navy and the continuity of SAR operations on the Atlantic and the Mediterranean coasts. Built by Airbus Helicopters, the six H160s will be equipped with a winch and a modular cabin that can be optimized for each mission. The H160s will be certified for use of night vision goggles which are necessary for winching operations at night.

The six H160s will be modified into a light military configuration by Babcock, a provider of critical, complex engineering services to governments, to answer to the needs of the French Navy. Babcock will integrate the Safran Electronics & Defense new generation electro-optical system, Euroflir 410.

The H160, as a next generation medium twin engine aircraft, powered by Arrano engines, is modular by design in order to address missions ranging from offshore transportation, private and business aviation, emergency medical services, and public services.

Japan Coast Guard and Singapore Add Airbus H225 Helicopters

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.

Shell Selects H160 for Operation by PHI in Gulf of Mexico

Marignane, France, 15, February, 2021 – International energy group Shell has selected leading US offshore helicopter operator PHI to operate four Airbus H160’s to service a support contract in the Gulf of Mexico. The contract marks the entry into the oil and gas market of the H160 with a wealth of design features promising new levels of safety, comfort and schedule reliability in offshore operations.

The three companies – Airbus, PHI and Shell – are cooperating in a unique partnership. In a pioneering move, Airbus will provide one H160 ahead of final deliveries to PHI and Shell for a year-long route-proving programme to enable the operator and the final customer to familiarize themselves with the type’s advanced features and mitigate the normal challenges around entry into service.

At PHI it will be based at Houma, Louisiana and join a large company fleet of H125’s and H135’s deployed in emergency medical service throughout the United States, as well as two H145’s operating for Shell on pipeline survey work in Louisiana, and two H145’s flying the world’s longest harbour pilot shuttle in Mackay, Australia.

With 68 patents, the H160 is the world’s most technologically advanced helicopter and features an unprecedented suite of pilot aids delivered through its Helionix avionics which substantially reduces crew workload and decreases the risk of pilot error.

They include the world’s first ground helipad assisted take-off procedure, a vortex ring state pre-alerting system and a recovery mode to automatically regain steady flight in difficult circumstances.

The H160 is powered by two of the latest Arrano engines from Safran Helicopter Engines and incorporates an embedded monitoring system and a redundancy of sensors, and can be maintained autonomously far from base. The design emphasises robust corrosion defence specifically envisaging offshore missions.

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