Spirit (NYSE: SAVE) came out with a quarterly loss of $1.61 per share versus the Zacks Consensus Estimate of a loss of $1.44. This compares to earnings of $1.24 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -11.81%. A quarter ago, it was expected that this airline would post a loss of $2.63 per share when it actually produced a loss of $2.32, delivering a surprise of 11.79%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
CHICAGO, Feb. 10, 2021 /PRNewswire/ — United Airlines (Nasdaq: UAL) today announced that it has completed an agreement to work with air mobility company Archer as part of the airline’s broader effort to invest in emerging technologies that decarbonize air travel. Rather than relying on traditional combustion engines, Archer’s electric vertical takeoff and landing (eVTOL) aircraft are designed to use electric motors and have the potential for future use as an ‘air taxi’ in urban markets.
Under the terms of the agreement, United will contribute its expertise in airspace management to assist Archer with the development of battery-powered, short-haul aircraft. Once the aircraft are in operation and have met United’s operating and business requirements, United, together with Mesa Airlines, would acquire a fleet of up to 200 of these electric aircraft that would be operated by a partner and are expected to give customers a quick, economical and low-carbon way to get to United’s hub airports and commute in dense urban environments within the next five years.
Working with Archer is another example of United’s commitment to identifying and investing in innovative technology that can reduce carbon emissions while also improving the customer experience and earning a strong financial return. The airline was an early stage investor in Fulcrum BioEnergy and recently partnered with 1PointFive, a joint venture between Oxy Low Carbon Ventures and Rusheen Capital, to jumpstart the establishment of direct air capture and sequestration technology.
With today’s technology, Archer’s aircraft are designed to travel distances of up to 60 miles at speeds of up to 150 miles per hour and future models will be designed to travel faster and further. Not only are Archer’s aircraft capable of saving individuals time on their commute, United estimates that using Archer’s eVTOL aircraft could reduce CO2 emissions by 47% per passenger on a trip between Hollywood and Los Angeles International Airport (LAX), one of the initial cities where Archer plans to launch its fleet.
Led by co-founders and co-CEOs Brett Adcock and Adam Goldstein, Archer’s mission is to advance the benefits of sustainable air mobility at scale. Archer plans to unveil its full scale eVTOL aircraft in 2021, begin aircraft production in 2023, and launch consumer flights in 2024. To drive this fourth transportation revolution and transform how people approach everyday life, work and adventure, Archer has built a highly accomplished team of top engineering and design talent, with a collective 200+ years of eVTOL experience.
DB Regio Bayern has ordered 31 regional trains from Siemens Mobility. The trains will serve on routes between Munich, Passau and Regensburg. Siemens Mobility will be delivering 25 double-decker Desiro HC trainsets and six single-decker Mireo trainsets. Passenger service with the new trains is planned to begin with the timetable change in December 2024.
“We’re especially pleased that we were able to win the Europe-wide call for tenders from the Bayerischen Eisenbahngesellschaft. The modern trains provided by our partner Siemens Mobility are an important contribution for ensuring high-quality operations that attract additional passengers to rail transport,” said Hansrüdiger Fritz, Chairman of the Regional Management, DB Regio Bayern.
“Our Desiro HC and Mireo regional trains stand for enhanced passenger experience and convenience, maximum availability, and sustainability. Both train platforms are very popular with passengers and have already significantly improved passenger satisfaction on many routes. We are pleased that we’ve received the order to build 25 Desiro HC trains and six Mireo trains for the Danube-Isar network,” said Albrecht Neumann, CEO Rolling Stock, Siemens Mobility.
The Desiro HC trains are intended for use on the line RE 3 Munich Hbf – Landshut Hbf – Plattling – Passau Hbf and until the opening of the 2nd S-Bahn main line in Munich on the RB 33 (Munich Hbf) – Freising – Moosburg – Landshut Hbf. The Mireo trains will be used on the airport express RE 22 Munich Airport Terminal – Landshut Hbf – Regensburg Hbf. After commissioning of the 2nd line, the vehicles of the RB 33 will be used for increased frequency in rush-hour traffic between Munich and Regensburg or Plattling.
Boeing [NYSE: BA] and BBAM Limited Partnership today announced the lessor is expanding its 737-800 Boeing Converted Freighter fleet with six firm orders and six options. The agreement brings BBAM’s 737-800BCF orders and commitments to 15 and highlights the continued strength of the e-commerce and express cargo market.
“As we look ahead to expanding our cargo fleet, the 737-800 Boeing Converted Freighter provides the performance and efficiency our customers need,” said Steve Zissis, CEO of BBAM. “Adding these highly capable freighters to 276 Boeing airplanes in our managed fleet helps to further strengthen our leadership position in the marketplace.”
Based on the popular Next-Generation 737, the 737-800BCF is meeting customer demand for a newer-generation freighter that offers higher reliability and lower fuel consumption and operating costs per trip compared to other standard body freighters. Primarily used to carry express cargo on domestic or short-haul routes, the airplane is capable of carrying up to 23.9 tonnes (52,800 pounds) and flying up to 2,025 nautical miles (3,750 kilometers). Since entering service in 2018, the 737-800BCF has won more than 150 orders and commitments.
“BBAM is one of the industry’s leading full-service leasing companies and has built their reputation on smart investments. We are honored that BBAM has selected more 737-800BCFs, based on the success of our standard body freighters in their portfolio,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing. “The continued strong demand for the 737-800BCF demonstrates the critical role these converted freighters play in the growing express and e-commerce market.”
BBAM is the world’s largest dedicated manager of investments in leased commercial jet aircraft, providing over 200 airline customers in more than 50 countries with fleet and financing solutions over the last three decades. BBAM is the only manager in the aircraft leasing industry focused exclusively on generating investment returns for third-party investors. BBAM currently has more than $28 billion of assets under management and employs over 150 professionals at its headquarters in San Francisco and in additional offices in Tokyo, Singapore, Zurich, Dublin and Santiago. For more information about BBAM, please visit its website at www.bbam.com.
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 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.
Union Pacific Corporation (NYSE: UNP) will release fourth quarter 2020 financial and operating results on Thursday, January 21, 2021, at 8:00 a.m. ET. The company’s management team will host a conference call and live webcast at 8:45 a.m. ET.
Parties interested in participating via teleconference may dial 877-407-8293. International callers may dial 201-689-8349. A live webcast of the presentation and materials will be available in the investor relations section of Union Pacific’s website at www.up.com/investor. A replay of the audio webcast will be available shortly thereafter.
AirAsia Group, the world’s best low-cost carrier for 11 consecutive years, is proud to announce its partnership with AC2 Group to install Blue Yonder’s warehouse management solution (WMS) to digitally transform its supply chain capabilities and operational agility as the airline continues to boost domestic capacity in line with strong demand.
AirAsia Group Head, Supply Chain, Siva Indran said, “We have achieved another significant milestone today with the successful deployment of a digital supply chain across the Group. The Blue Yonder WMS uses data and advanced analytics to deliver greater efficiencies for the airline and enhanced benefits for our guests, such as providing the right products on specific flights based on passenger preferences. Additionally, efficiencies gained can be translated into more attractive deals onboard or for ordering home deliveries for example. We continue to innovate in order to be well prepared ahead of the expected global rebound in air travel in the near future.
“As AirAsia’s digital transformation continues to gather momentum, we want to make fintech services inclusive throughout our travel and lifestyle ecosystem. We have always been a digital airline and this is one of many recent technological enhancements put in place over recent times to make booking and flying with AirAsia more seamless than ever. We are pleased that the digital transformation of our supply chain network project has gone live successfully across all of our operational hubs in Asia. I want to thank our IT, operations, supply chain team and our supply chain partner, the AC2 Group, for their assistance to deploy this innovation across the Group so smoothly. The digital optimisation of our supply chain network comes at a great time as we are focused on resuming operations to pre-COVID-19 levels in all of our key markets as soon as possible.”
Managing Partner of AC2 Group, Aw Yang Uei, said, “A significant amount of effort has been put into architecting the solution to ensure it is robust, scalable and integrable with future technologies such as warehouse robotics. AirAsia has a highly creative vision in their omni channel fulfilment strategies, which requires agility in their supply chain. We are delighted and honored to be part of this digitalization journey, and it is a privilege to be working closely with all the professionals in AirAsia.”
President of Asia Pacific at Blue Yonder, Antonio Boccalandro, said, “Congratulations to AirAsia and AC2 Group on the successful deployment of Blue Yonder’s WMS. Our warehouse management system is one of our flagship solutions helping customers improve flexibility, real-time responsiveness and the ability to easily manage complex warehouse operations. We are proud to be part of AirAsia’s digital transformation journey, and we look forward to many more success stories from them.”
Myanmar Airways International’s (MAI) first E190 commenced operations from Yangon yesterday, operating four flights throughout the day. In addition, MAI’s second E190 is due to arrive in the country on 23 December 2020 and the airline will expand its E190 routes to include nine destinations across the country, upgauging from the turboprops used by its sister airline Air KBZ.
MAI has also signed on for Embraer’s Pool Program – a program enrolled by all E-Jet operators in Asia Pacific. There are now four new E-Jet operators in Asia Pacific (ex. China) since the start of 2020.
“Our pilots, cabin crew, maintenance crew and our staff are proud to take MAI’s E190 to the skies and to serve our passengers with an enhanced flying experience,” said Saravanan Ramasamy, Chief Executive Officer of MAI. “We look forward to a productive partnership with Embraer. The operation of the E190 marks yet another important milestone in MAI’s fleet expansion strategy and domestic jet network growth. As the demand grows, we plan to scale up the frequency of our E190 operations to eight flights a day.”
“The commencement of Myanmar Airways International’s E190 flights will enhance connectivity in Myanmar,” said Raul Villaron, Asia Pacific Vice President for Embraer Commercial Aviation. “The airline will benefit from the performance and efficiency of the aircraft and generous cargo capacity. Passengers will appreciate the comfort in the cabin. Myanmar Airways International can operate with full confidence that our excellent service and support team are here to support them.”
In preparation for the E190 operations, eight MAI pilots underwent the month-long Initial Pilot Training in September 2020 in Zhuhai, China. Separately, Embraer conducted the license-engineer type course for MAI’s engineers. Embraer’s Pool Program, which MAI has enrolled in offers full repair coverage for components and parts, airframe maintenance, and unlimited access to a large stock of components at the company’s distribution centers. Operators benefit from significant savings on repair and inventory costs, reduction in required warehousing space and resources required for repair management, while ultimately providing guaranteed performance levels. Singapore is the base for Embraer’s warehouse in the Asia Pacific region.
Embraer is the world’s leading manufacturer of commercial aircraft up to 150 seats with more than 100 customers from all over the world. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,600 aircraft have been delivered. Today, E-Jets are flying in the fleet of more than 80 customers in some 50 countries. The versatile 70 to 150-seat family is flying with low-cost airlines as well as with regional and mainline carriers.
China Airlines today unveiled the first of six Boeing 777 Freighters, officially becoming the 20th operator of the world’s largest and longest range twin-aisle freighter. The 777 Freighter joins the airline amid growing demand for dedicated freighters as operators grapple with the impacts from the COVID-19 pandemic.
“Air cargo demand has risen in light of the global pandemic and has played a critical role in maintaining profitability for our airline despite the downturn in passenger traffic,” said China Airlines Chairman Hsieh Su-Chien. “The efficiency and capability of the 777 Freighter enables us to modernize our freighter fleet, while also allowing us to increase capacity and open into new markets. We look forward to delivering world-class service to our customers.”
China Airlines aims to increase its cargo capacity by 15% in 2021 and is planning to launch the 777 Freighter on routes connecting Taipei with North America — a key market with strong demand and escalating yields. An operator of all-Boeing freighter fleet, China Airlines debuted its new 777 Freighter during a ceremony in Taipei to mark the carrier’s 61st anniversary. The airline is set to take five more 777 Freighters as part of an order announced at the 2019 Paris Air Show.
The 777 Freighter is the world’s largest, longest range and most capable twin-engine freighter. The airplane has a range of 9,200 km (4,970 nautical miles) and can carry a maximum payload of 102,010 kg (224,900 lbs). The airplane will allow China Airlines to make fewer stops and reduce associated landing fees on long-haul routes, resulting in the lowest trip cost of any large freighter.
The 747 and 777 freighters, both of which make up China Airlines’ world-class freighter fleet, are capable of carrying tall and outsized cargo loads on 3-meter (10-foot) tall pallets. This common main-deck pallet height capability enables interchangeable pallets, adding to the versatility of both models.
“With the global air cargo fleet expected to grow by more than 60% over the next 20 years, the unmatched efficiency of the 777 Freighter will significantly boost China Airlines’ air cargo capabilities and enable them to scale their world-class cargo operations,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing for Boeing. “We are honored to strengthen our partnership with China Airlines as they continue to build one of the world’s most dynamic freighter fleets.”
In addition to commercial airplanes, Boeing provides China Airlines with total life cycle support services to streamline parts provisioning and flight and maintenance operations. The entire China Airlines fleet uses Jeppesen FliteDeck Pro, which provides access to digital navigation charts and interactive maps to optimize performance and enhance situational awareness.
China Airlines also recently signed an agreement for Airplane Health Management (AHM), which tracks real-time airplane information, providing data and decision support tools that allow technicians to quickly and correctly resolve maintenance issues. This allows airlines to take proactive actions based on AHM-generated alerts, reducing disruptions to operations and the costs associated with unscheduled maintenance. With the agreement, China Airlines joins more than 100 global customers using the AHM solution.
Union Pacific today named Craig Richardson executive vice president, chief legal officer and corporate secretary. Richardson is responsible for overseeing all aspects of the company’s legal affairs, including commercial transactions and litigation, regulatory matters, labor and employment. Richardson also supervises the railroad’s compliance and ethics program, and risk management initiatives, including Union Pacific’s police department. He succeeds Rhonda Ferguson, who served as executive vice president, chief legal officer and corporate secretary.
Richardson most recently served as vice president of commercial and regulatory law. He’s also held the position of associate general counsel.
“Craig has provided critical leadership, guiding us through sensitive and complex legal matters with insight, sound judgment and clarity,” said Chairman, President and CEO Lance Fritz. “He is a superior partner and counselor and has the expertise we need during this time of unprecedented change within our nation and company.”
Richardson’s experience spans commercial and regulatory litigation, including oil and gas, environmental, and antitrust law, as well as all aspects of multi-jurisdictional permitting of global energy infrastructure. For nearly a decade, he served as the Chief Legal Officer of El Paso Corporation’s Pipeline Group, the largest network of interstate natural gas pipelines in North America, delivering over 30% of the natural gas consumed in the United States. He was responsible for all legal matters nationwide, waging successful litigation in executing El Paso’s $8 billion portfolio of crucial additions to national energy infrastructure from California to New York.
In a ceremony held today at the Embraer facility in Gavião Peixoto (São Paulo, Brazil), Embraer delivered the first modernized EMB 145 AEW&C (Airborne Early Warning and Control), designated E-99, to the Brazilian Air Force (FAB). Four additional E-99 aircraft will be modernized as part of the contract.
The mission systems and related subsystems, including electronic warfare, command and control, electronic countermeasures, and aerial surveillance radar were updated as part of the modernization process, expanding FAB’s capacity to carry out Flight Control and Alarm missions and Electronic Reconnaissance, among others.
The E-99M project is conducted by COPAC with support from Embraer and various international suppliers, such as SAAB, Aeroelectronica International (AELI), and Rohde & Schwarz. In addition to modernization, the project entails technology transfer agreements that will enable technological advancements for the Brazilian defense industry.
Atech, an Embraer Defense and Security company, participates in the development of the command and control system. Six mission planning and analysis stations were also acquired, which will be used for the training and improvement of crews.
Built on the successful ERJ 145 regional jet platform, with more than 1,200 units delivered and 30 million flight hours, the FAB E-99 aircraft can detect, track, and identify targets in their patrol area and transmit this information to allied forces. The aircraft can also perform airspace management, fighter positioning and interception control, signals intelligence, and surveillance missions.
