STRATFORD, Conn. Feb. 10 – Continuing its 63-year legacy of providing safe and reliable transportation for the president of the United States, Sikorsky, a Lockheed Martin company (NYSE: LMT), is under contract to manufacture a total of 23 VH-92A® Presidential Helicopters for the U.S. Marine Corps. Sikorsky is on schedule to deliver the next generation presidential helicopter later this year.
The award announced February 5, 2021 by the U.S. Navy for five aircraft is the final lot of VH-92A presidential helicopters set to deliver in 2023. Sikorsky’s highly skilled workforce is completing final modifications on 12 of the production aircraft at its manufacturing facility in Stratford, Connecticut and Owego, New York.
The VH-92A will transport the president and vice president of the United States and other officials. Sikorsky brings unmatched experience and a proven track record to this mission having flown every U.S. commander-in-chief since President Dwight D. Eisenhower. The VH-92A, also called a “White Top” due to its notable white and green livery, will continue this legacy for decades to come.
The VH-92A program ensures long-term affordability and maintainability by utilizing the FAA certified Sikorsky S-92 aircraft which has industry leading reliability and availability. The S-92 aircraft is modified for the VH-92A mission based on government-defined requirements. The S-92 fleet surpassed 1.7 million flight hours in 2020 and averages 14,400 hours of safe flight per month.
Toulouse, 8 February, 2021 – Russia’s KrasAvia started operating its first two ATR 72-500, the first ATR aircraft ever registered in Russia. Owned by the government of Krasnoyarsk Krai, KrasAvia is an airline based in Krasnoyarsk, the third largest city in Siberia, with a population of approximately 1.1 million people. KrasAvia operates scheduled and charter flights with helicopters and fixed-wing aircraft on regional routes to Russia’s Far North from its Krasnoyarsk hub. The two ATR 72-500 have been purchased second-hand from Swedish lessor Erik Thun and the deal was arranged by Bertrand Lattes Aviation Capital (BLAC).
Air services are crucial to serve the remote regions of Siberia, and their challenging environment requires versatile and reliable aircraft able to take-off and land in extreme cold conditions. The route from Krasnoyarsk to Khatanga, near the Arctic Ocean, is one of the longest scheduled ATR routes (984NM / 1822km) – a four hour flight.
Andrey Egorov, General Director of KrasAvia, declared: “The acquisition of these two ATR 72-500 shows that we are ever more committed to improving our fleet and offering our passengers a smoother flying experience. They will replace our smaller Antonov An-24 and An-26 turboprop, which have reached over 40 years of service. Thanks to the ATR 72-500 versatility and modern and spacious cabin, we will continue to support the connectivity needs of the Siberian communities, with increased seat capacity and higher standards of comfort.”
Stefano Bortoli, Chief Executive Officer of ATR, said: “All regions deserve the same opportunity to be part of a connected world, and ATR aircraft show unrivalled performance in connecting people and businesses responsibly. The entry into service of these aircraft is highly significant, as KrasAvia is the first public airline in Russia to purchase and operate ATR. We are truly glad to see our aircraft continuing to support regional connectivity in the country.”
KrasAvia is the third largest ATR operator in Russia, after UTair and NordStar, which respectively operate a fleet of 15 ATR 72-500 and five ATR 42-500. The total ATR fleet in Russia now totals 22 aircraft, with their operational versatility and reliability being strong assets for their operators, to the benefit of the communities they serve.
The newer ATR-72-500’s are quite the upgrade from the old Antonov AN-24 aircraft!
Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced it has received a 2020 On-Time Delivery Award from Airbus Helicopters, Inc. for its efficient performance related to product delivery. Garmin avionics are available as standard on select Airbus Helicopters, including the H125, H130, H135 and H145.
Each year, Airbus Helicopters, Inc. recognizes suppliers who stand out in performance, competitiveness and reliability. This is the second year in a row Garmin has won the On-Time Delivery Award for commitment and timeliness in delivering avionics to fulfill Airbus Helicopters Inc. production lines and customer orders.
“We are once again very proud to be recognized by Airbus with this prestigious award for our commitment to serve them and our mutual customers with the on-time delivery of our products,” said Carl Wolf, Garmin vice president aviation sales and marketing. “To again receive this award is truly humbling and ultimately would not be possible without the dedication of our entire Garmin team, in addition to the gratifying strategic relationship with Airbus Helicopters.”
Garmin avionics are available as standard on the Airbus H125, including the G500H TXi flight display, GTN™ 650 touchscreen navigator, GNC 255 nav/comm, GMA™ 350c audio panel and the GTX™ 335R remote-mount ADS-B Out transponder. The GTN 750, GNC 255 and GTX 335R are also available as standard on the H130, while the H135/H145 feature the GTN 750 and Flight Stream 510 as standard equipment.
This marks the third consecutive year Garmin has received an award from Airbus Helicopters, Inc. In 2018, Garmin was also recognized by Airbus Helicopters, Inc. as the Supplier of Excellence for its unmatched responsiveness and competitiveness in its support of the UH-72A Lakota helicopter program, and for its overall support at the Airbus Helicopters Inc. final assembly and completion center in Columbus, Miss.
– Financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding
– Proactively managing liquidity and transforming for the future
– Revenue of $14.1 billion, GAAP loss per share of ($0.79) and core (non-GAAP)* loss per share of ($1.39)
– Operating cash flow of ($4.8) billion; cash and marketable securities of $27.1 billion
– Total backlog of $393 billion, including more than 4,300 commercial airplanes
Table 1. Summary Financial Results
Third Quarter
Nine Months
(Dollars in Millions, except per share data)
2020
2019
Change
2020
2019
Change
Revenues
$14,139
$19,980
(29)%
$42,854
$58,648
(27)%
GAAP
(Loss)/Earnings From Operations
($401)
$1,259
NM
($4,718)
$229
NM
Operating Margin
(2.8)%
6.3%
NM
(11.0)%
0.4%
NM
Net (Loss)/Earnings
($466)
$1,167
NM
($3,502)
$374
NM
(Loss)/Earnings Per Share
($0.79)
$2.05
NM
($6.10)
$0.66
NM
Operating Cash Flow
($4,819)
($2,424)
NM
($14,401)
($226)
NM
Non-GAAP*
Core Operating (Loss)/Earnings
($754)
$895
NM
($5,773)
($864)
NM
Core Operating Margin
(5.3)%
4.5%
NM
(13.5)%
(1.5)%
NM
Core (Loss)/Earnings Per Share
($1.39)
$1.45
NM
($7.88)
($1.13)
NM
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures.”
The Boeing Company [NYSE: BA] reported third-quarter revenue of $14.1 billion, GAAP loss per share of ($0.79) and core loss per share (non-GAAP)* of ($1.39), reflecting lower commercial deliveries and services volume primarily due to COVID-19 (Table 1). Boeing recorded operating cash flow of ($4.8) billion.
“The global pandemic continued to add pressure to our business this quarter, and we’re aligning to this new reality by closely managing our liquidity and transforming our enterprise to be sharper, more resilient and more sustainable for the long term,” said Boeing President and Chief Executive Officer Dave Calhoun. “Our diverse portfolio, including our government services, defense and space programs, continues to provide some stability for us as we adapt and rebuild for the other side of the pandemic. We remain focused on the health and safety of our employees and their communities. I’m proud of the dedication and commitment our teams have demonstrated as they continued to deliver for our customers in this challenging environment. Despite the near-term headwinds, we remain confident in our long term future and are focused on sustaining critical investments in our business and the meaningful actions we are taking to strengthen our safety culture, improve transparency and rebuild trust.”
Following the lead of global regulators, Boeing made steady progress toward the safe return to service of the 737 MAX, including rigorous certification and validation flights conducted by the U.S. Federal Aviation Administration, Transport Canada and the European Union Aviation Safety Agency. The Joint Operational Evaluation Board, featuring civil aviation authorities from the United States, Canada, Brazil, and the European Union, also conducted its evaluations of updated crew training. The 737 MAX has now completed around 1,400 test and check flights and more than 3,000 flight hours as it progresses through the robust and comprehensive certification process.
To adapt to the market impacts of COVID-19 and position the company for the future, Boeing continued its business transformation across five key areas including its infrastructure footprint, overhead and organizational structure, portfolio and investment mix, supply chain health and operational excellence. As the company resizes its operations to align with market realities, Boeing expects to continue lowering overall staffing levels through natural attrition as well as voluntary and involuntary workforce reductions, and recorded additional severance costs in the third quarter.
Table 2. Cash Flow
Third Quarter
Nine Months
(Millions)
2020
2019
2020
2019
Operating Cash Flow
($4,819)
($2,424)
($14,401)
($226)
Less Additions to Property, Plant & Equipment
($262)
($465)
($1,038)
($1,387)
Free Cash Flow*
($5,081)
($2,889)
($15,439)
($1,613)
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures.”
Operating cash flow was ($4.8) billion in the quarter, reflecting lower commercial deliveries and services volume primarily due to COVID-19, as well as timing of receipts and expenditures (Table 2).
Table 3. Cash, Marketable Securities and Debt Balances
Quarter-End
(Billions)
Q3 20
Q2 20
Cash
$10.6
$20.0
Marketable Securities1
$16.5
$12.4
Total
$27.1
$32.4
Debt Balances:
The Boeing Company, net of intercompany loans to BCC
$59.1
$59.5
Boeing Capital, including intercompany loans
$1.9
$1.9
Total Consolidated Debt
$61.0
$61.4
1Marketable securities consists primarily of time deposits due within one year classified as “short-term investments.”
Cash and investments in marketable securities decreased to $27.1 billion, compared to $32.4 billion at the beginning of the quarter, primarily driven by operating cash outflows (Table 3). Debt was $61.0 billion, down from $61.4 billion at the beginning of the quarter due to the repayment of maturing debt.
Total company backlog at quarter-end was $393 billion.
Segment Results
Commercial Airplanes
Table 4. Commercial Airplanes
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
Change
2020
2019
Change
Commercial Airplanes Deliveries
28
62
(55)%
98
301
(67)%
Revenues
$3,596
$8,249
(56)%
$11,434
$24,793
(54)%
Loss from Operations
($1,369)
($40)
NM
($6,199)
($3,813)
NM
Operating Margin
(38.1)%
(0.5)%
NM
(54.2)%
(15.4)%
NM
Commercial Airplanes third-quarter revenue decreased to $3.6 billion, reflecting lower delivery volume primarily due to COVID-19 impacts as well as 787 quality issues and associated rework. Third-quarter operating margin decreased to (38.1) percent, primarily driven by lower delivery volume, as well as $590 million of abnormal production costs related to the 737 program.
Commercial Airplanes added the final 777X flight test airplane to the test program and the GE9X engine received FAA certification. In October, the company decided it will consolidate 787 production in South Carolina in mid-2021, which did not have a significant financial impact on the program in the third quarter. Commercial Airplanes delivered 28 airplanes during the quarter, and backlog included over 4,300 airplanes valued at $313 billion.
Defense, Space & Security
Table 5. Defense, Space & Security
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
Change
2020
2019
Change
Revenues
$6,848
$7,002
(2)%
$19,478
$20,168
(3)%
Earnings from Operations
$628
$754
(17)%
$1,037
$2,581
(60)%
Operating Margin
9.2%
10.8%
(1.6) Pts
5.3%
12.8%
(7.5) Pts
Defense, Space & Security third-quarter revenue decreased to $6.8 billion, primarily due to derivative aircraft award timing, partially offset by higher fighter volume (Table 5). Third-quarter operating margin decreased to 9.2 percent reflecting less favorable performance, including a $67 million KC-46A Tanker charge.
During the quarter, Defense, Space & Security received an award for eight F-15EX advanced fighter aircraft for the U.S. Air Force and a contract extension for the International Space Station for NASA, as well as contracts for nine additional MH-47G Block II Chinook helicopters for the U.S. Army Special Operations and four additional 702X satellites. Also in the quarter, the U.S. Air Force and Boeing team was awarded the Collier Trophy for aerospace excellence for the X-37B autonomous spaceplane. Significant milestones included inducting the 20th U.S. Navy F/A-18 into the Service Life Modification program as well as delivering the firstBell Boeing V-22 Osprey to Japan and the first MH-47G Block II Chinook to the U.S. Army Special Operations.
Backlog at Defense, Space & Security was $62 billion, of which 30 percent represents orders from customers outside the U.S.
Global Services
Table 6. Global Services
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
Change
2020
2019
Change
Revenues
$3,694
$4,658
(21)%
$11,810
$13,820
(15)%
Earnings from Operations
$271
$673
(60)%
$307
$2,013
(85%)
Operating Margin
7.3%
14.4%
(7.1) Pts
2.6%
14.6%
(12.0) Pts
Global Services third-quarter revenue decreased to $3.7 billion, driven by lower commercial services volume due to COVID-19, partially offset by higher government services volume (Table 6). Third-quarter operating margin decreased to 7.3 percent primarily due to lower commercial services volume and additional severance costs.
During the quarter, Global Services signed an agreement with GECAS for 11 737-800 Boeing Converted Freighters, secured a six-year P-8A support contract for the Royal Australian Air Force, and was awarded F-15EX training and services support contracts by the U.S. Air Force. Global Services also delivered the first P-8A Operational Flight Trainer for the United Kingdom Royal Air Force.
Additional Financial Information
Table 7. Additional Financial Information
Third Quarter
Nine Months
(Dollars in Millions)
2020
2019
2020
2019
Revenues
Boeing Capital
$71
$66
$205
$207
Unallocated items, eliminations and other
($70)
$5
($73)
($340)
Earnings from Operations
Boeing Capital
$30
$29
$47
$86
FAS/CAS service cost adjustment
$353
$364
$1,055
$1,093
Other unallocated items and eliminations
($314)
($521)
($965)
($1,731)
Other income, net
$119
$121
$325
$334
Interest and debt expense
($643)
($203)
($1,458)
($480)
Effective tax rate
49.6%
0.8%
40.1%
(350.6)%
At quarter-end, Boeing Capital’s net portfolio balance was $2.0 billion. The change in revenue and earnings from other unallocated items and eliminations was primarily due to the timing of cost allocations. Earnings from other unallocated items and eliminations was also impacted by lower enterprise research and development expense. Interest and debt expense increased due to higher debt balances. The third quarter effective tax rate reflects tax benefits related to the five year net operating loss carryback provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act as well as the impact of pre-tax losses.
Non-GAAP Measures Disclosures
We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (GAAP) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company’s ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. The following definitions are provided:
Core Operating Earnings, Core Operating Margin and Core Earnings Per Share
Core operating earnings is defined as GAAP earnings from operations excluding the FAS/CAS service cost adjustment. The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core operating margin is defined as core operating earnings expressed as a percentage of revenue. Core earnings per share is defined as GAAP diluted earnings per share excluding the net earnings per share impact of the FAS/CAS service cost adjustment and Non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. Pension costs, comprising service and prior service costs computed in accordance with GAAP are allocated to Commercial Airplanes and BGS businesses supporting commercial customers. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. Management uses core operating earnings, core operating margin and core earnings per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as they exclude non-service pension and post-retirement costs, which primarily represent costs driven by market factors and costs not allocable to government contracts. A reconciliation between the GAAP and non-GAAP measures is provided on pages 12-13.
Free Cash Flow
Free cash flow is GAAP operating cash flow reduced by capital expenditures for property, plant and equipment. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long term value creation. Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity. Table 2 provides a reconciliation of free cash flow to GAAP operating cash flow.
Caution Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions generally identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but 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 and adversely from these forward-looking statements. Among these factors are risks related to: (1) the COVID-19 pandemic and related government actions, including with respect to our operations, our liquidity, the health of our customers and suppliers, and future demand for our products and services; (2) the 737 MAX, including the timing and conditions of 737 MAX regulatory approvals, lower than planned production rates and/or delivery rates, and increased considerations to customers and suppliers, (3) general conditions in the economy and our industry, including those due to regulatory changes; (4) our reliance on our commercial airline customers; (5) the overall health of our aircraft production system, planned commercial aircraft production rate changes, our commercial development and derivative aircraft programs, and our aircraft being subject to stringent performance and reliability standards; (6) changing budget and appropriation levels and acquisition priorities of the U.S. government; (7) our dependence on U.S. government contracts; (8) our reliance on fixed-price contracts; (9) our reliance on cost-type contracts; (10) uncertainties concerning contracts that include in-orbit incentive payments; (11) our dependence on our subcontractors and suppliers, as well as the availability of raw materials; (12) changes in accounting estimates; (13) changes in the competitive landscape in our markets; (14) our non-U.S. operations, including sales to non-U.S. customers; (15) threats to the security of our or our customers’ information; (16) potential adverse developments in new or pending litigation and/or government investigations; (17) customer and aircraft concentration in our customer financing portfolio; (18) changes in our ability to obtain debt financing on commercially reasonable terms and at competitive rates; (19) realizing the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures; (20) the adequacy of our insurance coverage to cover significant risk exposures; (21) potential business disruptions, including those related to physical security threats, information technology or cyber-attacks, epidemics, sanctions or natural disasters; (22) work stoppages or other labor disruptions; (23) substantial pension and other postretirement benefit obligations; and (24) potential environmental liabilities.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Airbus Helicopters has delivered the first five-bladed H145 to the Norwegian Air Ambulance Foundation. This new version of its best-selling H145 light twin-engine helicopter brings a new, innovative five-bladed rotor to the multi-mission helicopter, increasing the useful load by 150 kg while delivering new levels of comfort, simplicity, and connectivity. It received certification from the European Union Aviation Safety Agency in June and is now ready to take on a wide variety of missions.
The Norwegian Air Ambulance Foundation, founded by Norwegian doctor Jens Moe in 1978, is the mother company and owner of the Norwegian Air Ambulance. It brought HEMS to Norway by opening a first base near Oslo, using a BO105 helicopter rented from Germany. Today, Norwegian Air Ambulance operates all 13 HEMS bases in Norway and all 4 bases in Denmark using a 100% Helionix-equipped fleet of H135s and H145s. This helicopter is dedicated to support the Foundations important work to improve the HEMS operations.
The new version of Airbus’ best-selling H145 light twin-engine helicopter was unveiled at Heli-Expo 2019 in Atlanta with launch customers announced for all civil and parapublic mission segments.
Certification by the Federal Aviation Administration is under review and expected soon. The certification for the military version of the five-bladed H145 will be granted in 2021. The H145 is developed jointly with Kawasaki Heavy Industries. The first delivery by the Japanese cooperation partner is scheduled for early next year.
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.
– Boeing signs 15-year renewable energy agreement with SRPAgreement supports Boeing’s emission reduction goalsSRP solar photovoltaic plant scheduled to open in 2021
Boeing [NYSE: BA] and the Salt River Project (SRP) utility have signed a multi-year agreement to power Boeing’s Mesa site with renewable solar energy.
Boeing will be one of several companies to receive power from SRP’s soon-to-be-built 100-megawatt solar photovoltaic plant in Eloy, Arizona. Boeing’s Mesa site will receive about 25% of its electricity needs from this plant over the next 15 years. This supports the company’s overall goal to reduce greenhouse gas emissions 25% by 2025, and ultimately power operations with 100% renewable energy.
“It makes sense to take advantage of renewable solar energy at a location that enjoys 295 days of sunshine a year,” said Beth Schryer, Boeing vice president of Facilities & Asset Management. “This will help offset the same amount of energy equivalent to that used in one year by 670 average U.S. homes.”
SRP’s 700-acre Eloy plant is expected to begin operation in December 2021. Located approximately 50 miles from the plant is Boeing’s Mesa site. The Mesa site produces Apache helicopters and houses various corporate, commercial and defense teams in more than 40 buildings. Boeing employs more than 4,600 people in Arizona, with most based in Mesa.
“Boeing’s longstanding vision of improving the environment and reducing carbon emissions is a natural fit for the SRP Sustainable Energy Offering,” said Jim Pratt, SRP Associate General Manager and Chief Customer Executive. “We appreciate customers like Boeing working with us on this collaborative initiative to invest in renewable energy that not only helps them achieve their aerospace industry sustainability goals, but does so at an affordable cost.”
This agreement expands Boeing’s leadership in the use of renewable energy and energy efficiency. Two Boeing sites – Renton, Washington, and Charleston, South Carolina – use 100% renewable energy today. The company is also ranked 17th on the EPA’s Green Power Partnership Fortune 500® Partners List, and has been named an EPA ENERGY STAR® Partner of the Year for 10 years running.
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. Boeing employs more than 160,000 people worldwide 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.
The Helicopter Company (THC), which is fully owned by the Public Investment Fund (PIF) of Saudi Arabia, today announced that it has signed a purchase agreement with Airbus Helicopters to purchase 10 H125 helicopters. The deal comes as part of THC’s commitment to further expand its fleet and introduce new services that fulfill market demand and support the development of the Kingdom’s wider aviation sector.
Considered a multi-task aircraft, the Airbus H125 can carry up to six passengers and be easily reconfigured to suit varying requirements. THC will utilize the new additions to its fleet to roll out new services related to scenic tourism and aerial work such as filming, banner towing, and surveying.
Commenting on the purchase agreement, Capt. Arnaud Martinez, CEO of THC said: “By signing this agreement, THC has taken a massive step in expanding its fleet and implementing its ambitious operational plan. We are proud to be contributing to the advancement of Saudi Arabia’s tourism and aviation industries through our innovative air transport services that guarantee passengers a one-of-a-kind experience to relish the beauty of the Kingdom from above. I would like to thank our partners at Airbus Helicopters who have ensured we have reached an agreement that matches our requirements, and we look forward to furthering our collaboration in the near future. I would also like to extend our thanks to PIF for their enduring support since our founding as we work together to advance Saudi Arabia’s aviation industry.”
PIF established THC as part of its strategy to activate new sectors in Saudi Arabia that support the realization of Vision 2030 and generate long-term commercial returns. The Kingdom’s first local commercial helicopter operator, THC has been offering private flights since mid-2019 and is now expanding its services with the addition of the H125 to its fleet. This new agreement will contribute to driving the development of Saudi Arabia’s nascent and increasingly dynamic tourism and aviation industries and support the integration of each sector’s respective value chains.
Airbus Corporate Helicopters (ACH) has won a new order for its latest ACH160 helicopter, announced just days after the H160 achieved certification.
This new order, placed by an experienced Italian operator for use on private and corporate flights mainly inside Italy, means the ACH160 has been ordered by customers in eight countries across North America, Latin America, Europe, China and South-East Asia.
The client, an existing ACH twin-engined helicopter operator, has specified a customised interior configured for six passengers.
The ACH160 is the premium version of the new H160 helicopter which was certified by EASA on 1 July ready for deliveries to private and business customers commencing later this year. It is the latest member of the ACH family and the most technologically advanced helicopter in its class.
As well as its range of stylish interiors including bespoke solutions, the ACH160 offers a smooth and quiet ride allied to the Helionix advanced digital avionics system ensuring carefree handling and the highest level of safety.
Frederic Lemos, Head of ACH, said: “This new order from a highly knowledgeable ACH customer is yet more evidence of the strong welcome being received by the ACH160 in this demanding sector even at a notably challenging time for the helicopter market.”
The full ACH helicopter range consists of the ACH125, ACH130, ACH135, ACH145, ACH160 and ACH175 variants of Airbus Helicopters’ comprehensive and market-leading family of light and medium models. A range of premium-design aircraft completions, including bespoke designs, is available for all models.
Raising the bar in performance, comfort, simplicity and connectivity
Airbus Helicopters’ five-bladed H145 has been certified by the European Union Aviation Safety Agency (EASA), clearing the way for customer deliveries towards the end of summer 2020. The certification covers the full range of capabilities, including single-pilot and instrument flight rules (IFR) and single engine operations (Cat.A/VTOL), along with night vision goggles capability.
“Our new five bladed H145 is an excellent example of our quest for continuous improvement and providing incremental innovation that responds to our customers’ requirements”, said Bruno Even, Airbus Helicopters CEO. “This helicopter combines value-added features with the robustness and the reliability of a tried-and-tested bestseller, making it very competitive in the light twin-engine market.”
The new version of Airbus’ best-selling H145 light twin-engine helicopter was unveiled at Heli-Expo 2019 in Atlanta, GA, with launch customers announced for almost every market segment. Prior to the successful high-altitude test campaign in South America, where the aircraft set its skids down on the Aconcagua, the highest mountain in the Southern hemisphere, the new H145 performed several test campaigns including in Spain at medium altitudes and Finland for cold weather.
This latest upgrade of the H145 family adds a new, innovative five-bladed rotor to the multi-mission H145, increasing the useful load of the helicopter by 150 kg (330 lb). 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. Certification by the Federal Aviation Administration will follow later this year. The certification for the military version of the five-bladed H145 will be granted in 2021.
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.
Morocco is the 17th country to acquire the Boeing AH-64 Apache through a contract for 24 of the helicopters that was recently signed.
Boeing has delivered nearly 2,500 Apache helicopters to 16 nations to date, including the U.S., Netherlands, Greece, United Kingdom, Japan, India, Singapore, South Korea and Saudi Arabia. Deliveries to Morocco are expected to begin in 2024.
“This is another step forward in our long partnership with the Kingdom of Morocco,” said Jeff Shockey, vice president, Global Sales and Marketing, Boeing Defense, Space & Security and Government Services. “Worldwide demand for the Apache is growing and we are proud to provide this best-in-class capability to Morocco.”
The AH-64E Apache is the latest configuration of the attack helicopter. It is designed and equipped with an open systems architecture including the latest communications, navigation, sensor and weapon systems. It has an improved Modernized Target Acquisition Designation System that provides day, night and all-weather target information, as well as night vision navigation capability. In addition to classifying ground and air targets, the Fire Control Radar has been updated to operate in a maritime environment.
Boeing will build and deliver the new Moroccan Apaches under a contract with the U.S. Army through the U.S. government’s Foreign Military Sales process.
Boeing’s partnership with Morocco spans decades. The company is committed to developing Morocco’s supply chain and future workforce. Boeing is a partner of the MATIS Aerospace joint venture, which produces airplane wire bundles and harnesses. In 2016, the company signed a Memorandum of Understanding with the Kingdom to create an ecosystem of aircraft equipment suppliers. Boeing also supports the country’s future workforce through partnerships with Education for Employment (EFE) Morocco and the INJAZ Al-Maghrib association.
