Tag: pratt (Page 5 of 6)

Air Lease Says Boeing Going ‘Full Speed Ahead’ on Midsized Jet

March 7, 2019 / WIL BALDWIN

(Reuters) – Boeing Co is indicating “full speed ahead” for a new midsized airplane in what would be the first all-new jet program for the world’s biggest planemaker in more than a decade, Air Lease Corp’s chief executive, John Plueger, said on Wednesday.

Boeing reiterated on Wednesday that it will make a decision in 2020 on whether to launch the plane, which aims to address the middle of the jet market between traditional narrowbody jets with one aisle and long-distance widebody planes. It can start seeking offers in 2019, subject to launch.

“Boeing is signalling full speed ahead but there’s still a lot to be decided in these programs,” Plueger said at a conference, noting the company had met with Boeing in Seattle on Friday.

In an emailed statement, Boeing said it is still working through the business case for the new jet, adding: “If we decide to offer the airplane and the market responds positively, we will proceed with a launch decision sometime in 2020.”

Air Lease, one of the largest aircraft lessors, said it sees interest in Boeing’s proposed mid-market aircraft from airlines, some of which are looking for longer range while others, such as Asian carriers, seek the lowest possible cost per seat kilometre.

Still, Boeing is taking a “thoughtful approach” to the potential project following a series of cost overruns and delays with its last jet program, the 787, and has yet to discuss possible pricing, Air Lease Executive Chairman Steven Udvar-Hazy said.

Air Lease will meet on Saturday with Airbus SE, which is preparing to counter the potential new jet by Boeing with a new version of its A321 and the larger A330neo.

While Boeing and Airbus have traditionally launched new jets alongside purchase commitments from airlines, interest by aircraft lessors like Air Lease is forming an increasingly important role in the decision-making process, industry sources have said.

Delta Air Lines Chief Executive Ed Bastian said on Monday that it is interested in a mid-market aircraft from Boeing to replace 200 757 and 767 aircraft over the next decade.

Last month, Rolls-Royce dropped out of the race to power Boeing’s planned jet, strengthening a leading position in the high-profile contest for a transatlantic venture involving General Electric Co and France’s Safran.

“Somebody had to drop out and the competition at this point is progressing normally,” Plueger said.

Pratt & Whitney is also a potential supplier for the new Boeing jet.

(Reporting by Tracy Rucinski in Chicago; Editing by Matthew Lewis)

Interest is rising for Boeing’s new 757 replacement jet!

Aegean Airlines Sets 7-Year Bond Issue for Fleet Renewal

March 4, 2019 / WIL BALDWIN

* Aegean aims to raise up to 200 mln eur from sale

* Bond issue set for March 5-7

* Up to 147 mln euro to fund down payments for new planes

ATHENS, March 4 (Reuters) – Greece’s largest carrier Aegean Airlines will proceed with a sale of bonds on March 5-7 to raise up to 200 million euros ($226.86 million) for down payments on new Airbus aircraft and the construction of a new pilot training centre.

According to the public offering prospectus, about 30 percent of the issue will be allocated to retail investors, while 70 percent will go to “qualified investors”.

The seven-year bonds, each with a nominal value of 1,000 euros, will pay a semi-annual coupon. In Greece interest payments are taxed at 15 percent. Trading of the bonds on the Athens stock exchange will start on March 13.

Pricing will be determined via book building.

Aegean, a member of the Star Alliance airline group, will use 75 percent of the proceeds to partly finance down payments on new aircraft based on a deal with Airbus to renew its fleet of single-aisle planes and add capacity for future expansion.

Aegean picked Airbus in March last year for an order of up to 42 aircraft worth $5 billion in one of the biggest investments by a private Greek company since the country’s debt crisis erupted in 2010.

The down payments are due from the first quarter through to the last quarter of 2023 for new generation A320neo and A321 Airbus jets.

Deliveries of the new planes are expected to start in the first half of 2020 and conclude by the end of 2024.

Aegean has picked U.S. engine maker Pratt & Whitney to power the new A320neo aircraft and provide engine maintenance.

The carrier plans to use 14 percent of the proceeds or up to 27.5 million euros to build a new 12,000 square metre training centre with flight simulators for its flight crews at the Athens International Airport (AIA).

About 11 percent of the proceeds or up to 21.6 million will be used as working capital.

Piraeus Bank and Eurobank are the joint coordinators and bookrunners with Alpha Bank and Euroxx Securities the lead underwiters. Euroxx Securities was the issue adviser.

($1 = 0.8816 euros)

(Reporting by George Georgiopoulos; editing by Emelia Sithole-Matarise)

Rolls-Royce Quits Boeing’s Mid-Market Engine Race

February 28, 2019 / WIL BALDWIN

LONDON (Reuters) – Rolls-Royce dropped out of the race to power Boeing’s planned mid-market aircraft on Thursday, saying it did not want to risk more disruption for its airline customers by rushing out a product without extensive testing.

The move strengthens a leading position in the high-profile contest already held by a transatlantic venture involving Rolls’ arch-rival General Electric, industry sources said,

Britain’s Rolls-Royce, which makes engines for large civil aircraft and military planes, wants to avoid a repeat of the problems with its Trent 1000 engine that powers Boeing’s Dreamliner 787.

Chief Executive Warren East said he had taken the “very difficult decision” to withdraw from the Boeing competition because it couldn’t make the development of its new UltraFan architecture fit the timetable for the aircraft.

Boeing has proposed launching a new mid-sized jetliner to fill a gap between the narrow and wide-body aircraft, with airline operations beginning in 2025.

“If you enter into service with an engine that is not sufficiently mature, then you are almost inevitably going to run into lots of in-service issues, lots of customer disruption and lots of incremental costs,” East told reporters.

He said, however, that Rolls was still committed to UltraFan, a major new fuel-efficient architecture that will power wide-body jets towards the back end of the next decade.

CFM International — a joint venture between GE and France’s Safran — as well as Pratt & Whitney are also potential suppliers for the new Boeing jet.

Pratt & Whitney recently re-entered the civil market for narrow-body jets and wants to expand to larger ones, but has been hit by industrial problems.

UNHAPPY CUSTOMERS

In the nearer term, Rolls is still dealing with the costs and disruption of fixing Trent 1000 engines caused by the poor durability of components.

“On this issue we have indeed turned the corner,” East said, although he added that the level of customer disruption was still unacceptable.

It raised the Trent 1000 charge to 790 million pounds from 554 million pounds at the half year, contributing to a full-year operating loss of 1.16 billion pounds ($1.54 billion), and allocated another 100 million pounds in cash to the problem.

The issue has damaged Rolls’ standing with its big customers.

British Airways owner IAG said on Thursday it would order 18 Boeing 777-9s, rather than a competing package from Airbus that industry sources said included the A350, which is powered by Rolls.

“I have been frustrated, largely with the performance of Rolls-Royce, not so much with Airbus,” IAG Chief Executive Willie Walsh said.

East, however, said Rolls had an excellent relationship with BA and put the choice down to IAG’s fleet requirements.

“I am totally confident we will be continuing to be a major partner with BA for many, many years into the future,” he said.

East said that aside from Trent 1000, the rest of the business was performing well, although the large engine deliveries of 480 fell short of its 500 target, in part due to the challenge of stepping up Trent 7000 production.

Shares in Rolls were trading down 3.4 percent at 950 pence, underperforming a 1 percent drop in the FTSE 100.

The company reported a 8 percent rise in underlying revenue to 15.1 billion pounds and a doubling of operating profit to 616 million pounds.

However, changes in Rolls-Royce’s dollar-pound hedge book had a significant impact on its results, and were in part responsible for a reported full-year loss of 2.9 billion pounds.

(Reporting by Paul Sandle, Additional reporting by Tim Hepher; Editing by Edmund Blair and Keith Weir)

Air Vanuatu Selects Airbus A220 for Fleet Expansion

February 26, 2019 / WIL BALDWIN

Melbourne, 26th February 2019 – Air Vanuatu, the national flag carrier of the Pacific island nation of Vanuatu, has signed a firm order with Airbus for four A220s (two A220-100s and two A220-300s). Air Vanuatu’s first ever order with Airbus makes it the launch customer of the A220 in the Pacific region.

Based at Bauerfield International Airport in the capital Port Vila, Air Vanuatu operates to 26 domestic airports and internationally to Australia, New Zealand, Fiji and New Caledonia. It began services in 1987, and has played a vital role in establishing Vanuatu as a tourist and investment destination. Currently the airline operates a Boeing 737 and ATR 72 fleet.

Air Vanuatu Chief Executive Officer Derek Nice said: “We are proud to be the launch airline in the South Pacific of the best-in-class Airbus A220. These aircraft will be deployed to operate on our current domestic and international routes, including our newly announced non-stop Melbourne-Vanuatu service, and will bolster plans to expand our network in the South Pacific.”

“By ordering the A220 Air Vanuatu is making a significant investment in advanced technology and superior passenger comfort, while demonstrating its respect for fuel efficiency and the environment. Air Vanuatu’s decision to place the Airbus A220 at the centre of its expansion plans will surely keep it one step ahead of the competition,” said Christian Scherer, Airbus Chief Commercial Officer.

Passengers on board the A220 will experience superior cabin comfort, the widest seats and the largest windows in its market segment. The A220’s performance and range capabilities will enable Air Vanuatu to streamline its current operations and launch a growth plan that is a key pillar of Vanuatu’s economic development goals.

The A220 delivers unbeatable fuel efficiency. It brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines to offer at least 20 percent lower fuel burn per seat compared to previous generation aircraft.

With an order book of over 530 aircraft to date, the A220 has all the credentials to win the lion’s share of the 100- to 150-seat aircraft market, estimated to represent at least 7,000 aircraft over the next 20 years.

About Airbus

Airbus is a global leader in aeronautics, space and related services. In 2018 it generated revenues of €64 billion restated for IFRS 15 and employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airliners. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world’s leading space companies. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.

Story and images from http://www.airbus.com

Phenom 300 is World’s Most Delivered Light Business Jet

February 22, 2019 / WIL BALDWIN

Melbourne, Florida, February 21, 2019 – Embraer Executive Jets delivered 53 Phenom 300 and Phenom 300E light jets in 2018, according to a report issued by the General Aviation Manufacturers Association (GAMA). This is the seventh consecutive year that the Phenom 300 achieves this mark, having accrued more than 490 deliveries since entering the market in December 2009.

“The Phenom 300’s continued success in the market is a reflection of our commitment to fascinate customers and deliver the ultimate customer experience in business aviation,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “The revolutionary interior design of the Phenom 300E adds even more value to this already popular model, reaffirming our commitment to continue to invest in true innovation.”

Originally launched in 2005, the Phenom 300 has sustained more than half of the light jet market share since 2012. The aircraft is in operation in more than 30 countries and has accumulated more than 780,000 flight hours. Embraer is continuously investing in the competitiveness of the Phenom 300 with enhancements to its comfort, technology and operational efficiency.

This image has an empty alt attribute; its file name is Phenom_300E_SN414_Interior-1.jpg

In October 2017, the new Phenom 300E was announced and entered service just five months later, in March 2018, and it is the only Phenom 300 model available to be acquired. The new aircraft is designated “E” for “Enhanced” in reference to its entirely redesigned cabin and the addition of the industry-leading nice® HD CMS/IFE (Cabin Management System/InFlight Entertainment) by Lufthansa Technik.

The Phenom 300E inherits the Embraer DNA Design, first introduced in its larger siblings, the Legacy 450 and Legacy 500 midsize jets. The application of this design in the Phenom 300E rendered an even more spacious cabin with more personalization options and greater ease of maintainability.

The revolutionary new interior design of the Phenom 300E starts with the all-new Embraer DNA seats, both designed and manufactured by Embraer. The new seats in the Phenom 300E feature an extendable headrest with bolsters, retractable armrest, broader backs for greater support, and extendable leg rests for improved ergonomics. The new table, side ledge, side wall, and valance design optimizes passenger mobility in the cabin with expanded aisle clearance and increased cabin space, rendering unmatched comfort and personalization in the light jet class.

The Phenom 300E features an industry-exclusive upper technology panel (upper tech panel) along the centerline of the aircraft’s ceiling, significantly improving passenger ergonomics. The innovative upper tech panel presents passengers with pertinent inflight information, while allowing for convenient interaction with cabin management controls, as well as the option of inflight entertainment with audio and video on demand via two slender swing-down seven-inch displays. The unit also offers an enhanced cabin lighting scheme, with a broad range of ambient mood selections, as well as integrates sleek, silent gaspers enhancing acoustic comfort. Bluetooth connectivity also allows passengers to view inflight information on their personal devices.

The Phenom 300E is also the fastest light jet, having established several speed records with the National Aeronautic Association and the Federation Aeronautique Internationale

About the Phenom 300E

The Phenom 300E performs among the top light jets, with a high speed cruise of 453 knots and a six-occupant range of 1,971 nautical miles (3,650 km) with NBAA IFR reserves. With the best climb and field performance in its class, the Phenom 300E costs less to operate and maintain than its peers. The aircraft is capable of flying at 45,000 feet (13,716 meters), powered by two Pratt & Whitney Canada PW535E engines with 3,360 pounds of thrust each.

The Phenom 300E offers a spacious cabin with the Embraer DNA Design and its baggage compartment is among the largest in its category. The largest windows in the class deliver abundant natural lighting in the cabin as well as in the private lavatory. The comfort of the seats, with recline and full movement capability, is enhanced by the best pressurization among light jets (6,600 ft. maximum cabin altitude). The Phenom 300E features distinct temperature zones for pilots and passengers, a wardrobe and refreshment center, voice and data communications options, and an entertainment system.

The pilot-friendly cockpit enables single-pilot operation and offers the advanced Prodigy Touch Flight Deck, based on the acclaimed Garmin 3000 avionics suite. The features it carries from a class above include single-point refueling, externally serviced lavatory, and an air stair.

Airbus Says A320neo India Deliveries Back on Track

February 20, 2019 / WIL BALDWIN

Bengaluru (Reuters) – European aircraft maker Airbus deliveries of its A320neo aircraft are back on track in India with fewer problems being seen with the narrowbody jet’s Pratt & Whitney engines, a senior company executive said on Wednesday.

“Pratt has informed Airbus that engine issues have come down by a factor of four in the last 12 months,” said Airbus’ India head Anand Stanley, on the sidelines of the Aero India airshow in Bengaluru.

Last month, India’s aviation safety watchdog forced airlines to make extra checks on their Airbus A320neo aircraft fitted with Pratt & Whitney engines, as part of new safety protocols after temporary grounding orders affected the planes last year.

IndiGo, India’s biggest carrier by market share, and its low-cost rival GoAir, both fly the A320neos.

The aircraft, which entered service in early 2016, boasts significant fuel efficiency benefits, but it has been plagued by teething issues with its engines that have forced Interglobe Aviation-owned IndiGo and Wadia Group-owned GoAir to regularly ground a number of the planes.

This caused a backlog in deliveries of the planes by Airbus.

IndiGo has over 60 A320neos in its fleet and is one of Airbus’ biggest global customer with over 400 more A320neo and A321neo jets on order. GoAir has about 30 A320neos in its fleet and over 100 more of the jets ordered.

Stanley said that the reliability rate on A320neo engines is now 99.6 percent and that it has retrofitted engines of about 95 percent of the A320neos in service. It expects to finish work on the remainder in the next two months.

(Reporting by Aditi Shah; Writing by Euan Rocha; editing by Emelia Sithole-Matarise)

Pratt & Whitney Delivers GT PW1900G Engines for Embraer

February 18, 2019 / WIL BALDWIN

EAST HARTFORD, Conn., Feb. 18, 2019 /PRNewswire/ — Pratt & Whitney, a division of United Technologies Corp. (UTX), and Embraer celebrated delivery of the GTF™ PW1900G production engines for the E195-E2 aircraft at Embraer’s E2 final assembly line in São José dos Campos, São Paulo, Brazil. The E195-E2 is expected to enter into service in the second half of 2019 with Azul Brazilian Airlines.

“We are excited to receive the GTF production engines for the initial serial production of the E195-E2, as we know firsthand the advantages that these engines provide to our customers and the environment,” said Fernando Antonio Oliveira, Embraer’s E2 Program Director.

Embraer’s E190-E2 aircraft, which is also powered by the Pratt & Whitney PW1900G engine, entered service in April 2018 with Widerøe, followed by Air Astana in December 2018.

“Delivering the first production engines for the E195-E2 is an important milestone for the program,” said Graham Webb, vice president of Commercial Engine Programs at Pratt & Whitney. “We look forward to continuing to work together to support Embraer’s second GTF-powered E2 aircraft model.”

In addition to being selected as the exclusive propulsion system for the E2 commercial aircraft, Pratt & Whitney’s APS2600E auxiliary power unit (APU) is the sole-sourced APU for the E2 family. The APS2600E APU gives airlines greater flexibility, by increasing the altitude ceiling for ETOPS and other operations, and providing a significant increase in electrical power delivery to meet the needs of today’s airlines.

The E195-E2 aircraft has more than 24% reduction in fuel burn per seat than the previous-generation E195, with NOx emissions 50% below the ICAO CAEP/6 regulation and 19dB to 20dB of ICAO Chapter 4 cumulative noise margin.

About Pratt & Whitney

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units. United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. To learn more about UTC, visit its website at www.utc.com, or follow the company on Twitter: @UTC.

This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in levels of demand in the aerospace industry, in levels of air travel, and in the number of aircraft to be built; challenges in the design, development, production support, performance and realization of the anticipated benefits of advanced technologies (including our expected returns under customer contracts); as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corp.’s Securities and Exchange Commission filings.

JetBlue Airways Firms Order for 60 Airbus A220-300’s

January 8, 2019 / WIL BALDWIN

JetBlue Airways has firmed up an order for 60 A220-300 aircraft, the larger model of the new, industry-leading A220 series.

“As we approach our 20th anniversary, the impressive range and economics of the highly efficient A220, combined with the outstanding performance of our existing fleet of Airbus A321 and restyled A320 aircraft, will help ensure we deliver the best onboard experience to customers and meet our long-term financial targets as we continue disciplined growth into the future,” said Robin Hayes, Chief Executive Officer, JetBlue.

JetBlue’s existing Airbus fleet includes 193 A320 and A321ceo aircraft in operation, with an additional 85 A321neo aircraft on order.

“JetBlue has proven there is no contradiction between economic efficiency and a high quality product,” said Christian Scherer, Airbus Chief Commercial Officer. “Their endorsement of the A220 proves this aircraft meets those two criteria better than any alternative in its segment. Thank you JetBlue and congratulations on this big milestone in your growth.”

The order was completed the last week of December. Airbus will produce the A220-300 aircraft at a new U.S. assembly facility in Mobile, Alabama. Construction of the plant, to be located adjacent to the existing Airbus A320 assembly facility, will begin later this month.

The A220 is the only aircraft purpose built for the 100-150 seat market; it delivers unbeatable fuel efficiency and true widebody comfort in a single-aisle aircraft. The A220 brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines to offer at least 20 percent lower fuel burn per seat compared to previous generation aircraft. With a range of up to 3,200 nm (5,020 km), the A220 offers the performance of larger single-aisle aircraft.

With an order book of more than 500 aircraft to date, the A220 has all the credentials to win the lion’s share of the 100- to 150-seat aircraft market estimated to represent at least 7,000 aircraft over the next 20 years.

@JetBlue #A220 #Airbus

Story and image from http://www.airbus.com

Air Lease Places Two New Airbus A321neo’s With Air Macau

December 5, 2018 / WIL BALDWIN

LOS ANGELES–(BUSINESS WIRE)–

Today Air Lease Corporation (NYSE: AL; “ALC”) announced a long-term lease agreement for two new Airbus A321neo aircraft with Air Macau. Featuring Pratt & Whitney PW1133G engines, the aircraft will deliver from ALC’s order book with Airbus in November 2019 and the first quarter of 2020.

“ALC has worked closely with Air Macau’s management team since 2010 and we are pleased to strengthen our long-standing relationship with the airline with this announcement today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “We are committed to providing the most modern, fuel-efficient aircraft to ALC customers and these two new A321neo aircraft will significantly enhance Air Macau’s fleet operations.”

“We are honored to announce the placement of these two new A321neo aircraft with Air Macau today,” said Jie Chen, Executive Vice President and Managing Director, Asia of Air Lease Corporation. “ALC values our relationship with the airline and these two new placements contribute to our long-term association.”

“Air Macau is thrilled to announce the placement of these two new A321neo aircraft with ALC,” said Chen Hong, Chief Executive Officer of Air Macau. “We are focused on continually enhancing and modernizing our fleet with the very best aircraft available, and these two new A321neo from ALC are key to optimizing our fleet development.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (AL)

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC’s website at www.airleasecorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181205005223/en/

Lufthansa Suffering From A320neo Engine Vibration Issues

September 7, 2018 / WIL BALDWIN

Lufthansa has reportedly been suffering from a rash of Airbus A320neo engine vibration issues. The issue centers around aircraft using the Pratt & Whitney PW1100G geared turbofan engine, and involves ever increasing engine vibration on aircraft with as few as 1,000 flight hours, or less.

The vibrations increase in intense over time, and result in the engines having to be changed out. Pilots are alerted to the situation via an engine vibration warning in the cockpit, and the issue occurs when running at higher power during take-off and climb. The vibrations reportedly subside as the engine power settings are reduced while at cruise altitude.

The FAA is planning to release a publication on September 7 detailing manufacturing defects in some of the PW1100G-JM low-pressure turbine disks. The report specifies that several first and third stage LPT disks were delivered before the lot ended up being rejected due to material inclusion. Some of the disks may have been installed in engines that were delivered without being discovered during inspections.

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