Tag: space (Page 4 of 16)

Spirit AeroSystems Reports Third Quarter 2021 Results

November 4, 2021 / WIL BALDWIN

Spirit AeroSystems Reports Third Quarter 2021 Results

Delivered 250 shipsets, compared to 206 in Q3 2020; delivered 47 737 shipsets in Q3 2021 compared to 15 in Q3 2020
Revenue of $980 million in Q3 2021, compared to $806 million in Q3 2020
Cash guidance unchanged: full-year 2021 cash used in operations is expected to be between $(50) to $(150) million; full-year 2021 free cash flow* is expected to be between $(200) and $(300) million
EPS of $(1.09) in Q3 2021 compared to $(1.50) in Q3 2020
Established business divisions to focus on key growth markets: Commercial, Defense & Space, and Aftermarket; Segment reporting change beginning Q4 2021

Spirit-Aerosystems-Q3-2021

A.P. Moller, Maersk Orders Two Boeing 777 Freighters

November 2, 2021 / WIL BALDWIN

COPENHAGEN, Denmark, Nov. 2, 2021 /PRNewswire/ — Boeing [NYSE: BA] and A.P. Moller – Maersk (Maersk) today announced the global provider of end-to-end container logistics has placed an order for two 777 Freighters. The freighters will be operated by Star Air, Maersk’s in-house aircraft operator and is the company’s first 777 order. Star Air currently operates an all-Boeing 767 Freighter fleet.

The 777 Freighter is the world’s largest, longest range and most capable twin-engine freighter. The airplane offers 17 percent better fuel efficiency and reduced CO2 emissions compared to legacy airplanes. With a range of 9,200 kilometers, the 777 Freighter can carry a maximum revenue payload of 102,000 kilograms, allowing Star Air to make fewer stops and reduce landing fees on long-haul routes.

The 777 Freighter is Boeing’s top-selling freighter of all time. Customers from around the world have ordered more than 300 777 Freighters since the program began in 2005. As the air cargo market continues to strengthen throughout the world, freight carriers turn to Boeing for its complete family of new and converted freighters. Boeing airplanes provide more than 90% of the worldwide dedicated freighter capacity.

Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs approximately 80,000 people.

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.

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.

Griffin Global Asset Management Orders Five Boeing 737-8 Jets

September 2, 2021 / WIL BALDWIN

SEATTLE, Washington, September 1, 2021 — Boeing [NYSE: BA] and Griffin Global Asset Management today announced the aircraft lessor is expanding its commercial aircraft portfolio with five new 737-8 jets. The purchase is Griffin’s first direct order with Boeing as it sees strategic opportunities to place the airplanes during the market recovery.

Designed and built in Renton, Washington, the 737 MAX family delivers superior efficiency, flexibility and reliability while reducing fuel use and carbon emissions by at least 14% compared to the airplanes they replace. The 737-8 seats up to 189 passengers and can fly 3,550 nautical miles – about 600 miles farther than its predecessor – allowing airlines to offer new and more direct routes for passengers. Every 737 MAX features the new Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

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.

U.S. Navy and Boeing Score Another MQ-25 First with E-2D Refueling

August 19, 2021 / WIL BALDWIN

The U.S. Navy and Boeing [NYSE: BA] have completed a second carrier-based aircraft unmanned refueling mission with the Boeing-owned MQ-25^TM T1 test asset, this time refueling a Navy E-2D Hawkeye command and control aircraft.

During a test flight from MidAmerica St. Louis Airport on Aug. 18, pilots from the Navy’s Air Test and Evaluation Squadron VX-20 conducted a successful wake survey behind MQ-25 T1 to ensure performance and stability before making contact with T1’s aerial refueling drogue. The E-2D received fuel from T1’s aerial refueling store during the flight.

The MQ-25 Stingray^TM will be assigned to the carrier airborne early warning squadron within the carrier air wing, which currently operates the E-2 C/D aircraft – known as the “digital quarterback” of the fleet for its role in joint battle management and command and control.

This is the second aerial refueling mission the MQ-25 team has conducted this summer. On June 4, the MQ-25 T1 test asset became the first unmanned aircraft to refuel another aircraft, a U.S. Navy Super Hornet. Both flights were conducted at operationally relevant speeds and altitudes, with the E-2D and F/A-18 performing maneuvers in close proximity to T1.

Boeing is currently manufacturing the first two of seven MQ-25 test aircraft and two ground test articles currently under contract. The Boeing-owned MQ-25 T1 test asset is a predecessor to these aircraft. The MQ-25 is leveraging advancements in model-based digital engineering and design, and ongoing flights are intended to test aircraft design and performance much earlier than traditional programs.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As the top U.S. exporter, the company supports commercial and government customers in more than 150 countries and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

MQ-25 and Stingray are trademarks of the Department of the Navy.

Boeing Reports Second Quarter Results

July 28, 2021 / WIL BALDWIN

The Boeing Company [NYSE: BA] reported second-quarter revenue of $17.0 billion, driven by higher commercial airplanes and services volume. GAAP earnings per share of $1.00 and core earnings per share (non-GAAP)* of $0.40 primarily reflects higher commercial volume and lower period costs (Table 1). Boeing recorded operating cash flow of ($0.5) billion.

“We continued to make important progress in the second quarter as we focus on driving stability across our operations and transforming our business for the future,” said Boeing President and Chief Executive Officer David Calhoun. “While our commercial market environment is improving, we’re closely monitoring COVID-19 case rates, vaccine distribution and global trade as key indicators for our industry’s stability. As we continue to position for a robust recovery, we remain committed to safety and quality, while investing in our people, products and technology. I am proud of our team’s resilience and commitment as we work to rebuild trust, improve our performance and deliver for our commercial, defense, space and services customers.”

As part of Boeing’s ongoing focus on global sustainability, the company published its first integrated Sustainability Report in July. “This was an important step in our continued efforts to reinforce our Environmental, Social, and Governance principles,” Calhoun said.

Click the link below to read the full press release!

https://boeing.mediaroom.com/2021-07-28-Boeing-Reports-Second-Quarter-Results

Lockheed Martin and NASA executives officially opened the STAR Center in Florida on July 15.

Lockheed Martin Opens Orion Spacecraft Advanced Manufacturing Facility

July 15, 2021 / WIL BALDWIN

TITUSVILLE, Florida, July 15, 2021 /PRNewswire/ — Lockheed Martin [NYSE: LMT] opened its Spacecraft Test, Assembly and Resource (STAR) Center today. The STAR Center features business and digital transformation innovations that will expand manufacturing, assembly and testing capacity for NASA’s Orion spacecraft program and ultimately, future space exploration.

Lockheed Martin currently assembles the Orion spacecraft for the Artemis I and II Moon missions at the nearby Neil Armstrong Operations and Checkout (O&C) building at NASA’s Kennedy Space Center. The addition of the STAR Center provides much-needed space for the new production phase of Orion, allowing future Orion spacecraft – starting with the Artemis III mission – to be built faster.

Lockheed Martin acquired the building that formerly housed the Astronaut Training Experience attraction and spent 18 months and nearly $20 million renovating and modernizing the 55,000 square-foot space into a digitally-transformed factory of the future.

Boeing Company Announces Second Quarter Deliveries

July 13, 2021 / WIL BALDWIN

The Boeing Company [NYSE: BA] announced today major program deliveries across its commercial and defense operations for the second quarter of 2021.

“We continue the work to deliver on our commitments to our commercial, defense, space and services customers, while positioning our business for a stable and strong recovery from the pandemic. In the second quarter, we made progress in safely returning the 737 MAX to service in more international markets and increasing the pace of 737 deliveries,” the company said.

As Boeing has previously shared, the company has been engaged in detailed discussions with the FAA on verification methodology for 787 fuselages, and conducting associated inspections and rework. In connection with these efforts, the company has identified additional rework that will be required on undelivered 787s. Based on our assessment of the time required to complete this work, Boeing is reprioritizing production resources for a few weeks to support the inspection and rework. As that work is performed, the 787 production rate will temporarily be lower than five per month and will gradually return to that rate. Boeing now expects to deliver fewer than half of the 787s currently in inventory this year.

“We will continue to take the necessary time to ensure Boeing airplanes meet the highest quality prior to delivery. Across the enterprise, our teams remain focused on safety and integrity as we drive stability, first-time quality and productivity in our operations,” the company added.

Major program deliveries during the second quarter were as follows:

Major Programs	2nd Quarter 2021	Year-to- Date 2021

Commercial Airplanes Programs
737	50		113
747	1		2
767	8		13
777	8		14
787	12		14
Total	79		156

Defense, Space & Security Programs
AH-64 Apache (New)	6		15
AH-64 Apache (Remanufactured)	16		31
CH-47 Chinook (New)	3		6
CH-47 Chinook (Renewed)	1		4
F-15 Models	5		8
F/A-18 Models	7		11
KC-46 Tanker	2		4
P-8 Models	3		6
Commercial and Civil Satellites	—		—
Military Satellites	—		—

Note: Delivery information is not considered final until quarterly financial results are issued.

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.

Archives