Tag: General (Page 8 of 10)

Gulfstream Aerospace Expands Wisconsin Service Center

August 24, 2019 / WIL BALDWIN

Gulfstream’s expanded facility in Appleton, Wisconsin. The $40 million, 190,000 square-foot building can accommodate 12 Gulfstream G650ER aircraft and employs more than 100 people. (Gulfstream photo)

SAVANNAH, Ga., Aug. 23, 2019 /PRNewswire/ — Gulfstream Aerospace Corp. today announced it has officially expanded its maintenance, repair and overhaul (MRO) operations at Wisconsin’s Appleton International Airport with the opening of a newly built aircraft maintenance facility. The facility has been operational since Aug. 10.

The nearly 190,000 square-foot/17,652-square-meter building, northeast of the airport terminal, was constructed with an investment of approximately $40 million. The expansion to the Appleton service center includes 101,853 sq ft/9,462 sq m of hangar space, which will accommodate 12 Gulfstream G650ER or G650 aircraft. In addition to offices, back shops and general support space, the expansion adds a new sales and design center and increased customer access to Gulfstream’s design portfolio. The project, announced in February 2018, has resulted in nearly 100 new jobs at Gulfstream Appleton, with the potential for more in the next few years.

“This is a very exciting day for Appleton and the entire Fox Valley,” said Derek Zimmerman, president, Gulfstream Customer Support. “This beautiful facility represents the most significant expansion we’ve had in the 20 years we’ve been here. It is a tremendous asset to our site and the community. It will help us enhance the reliability of our growing fleet, support more customers and elevate their experience, continue to maintain a high level of safety and provide a world-class workplace for our employees.

“We are thankful to General Dynamics, the Wisconsin Economic Development Corporation, the Fox Cities Chamber of Commerce Regional Partnership, the Outagamie County Executive, the Outagamie County Board of Supervisors and the town of Greenville Board for their essential support.”

Gulfstream announced the maintenance facility opening before an audience of employees and state and local dignitaries, including Wisconsin Gov. Tony Evers. The company will open four other expanded or new service centers in 2019 and 2020: Savannah, Georgia; Van Nuys, California; Palm Beach, Florida; and Farnborough, England.

Gulfstream Appleton is home to a service center and a large-cabin completions facility spread over approximately 500,000 sq ft/46,452 sq m. It offers customers a broad range of services, including major inspections, structural modifications, major avionics installations and safety upgrades. Its MRO operation is certified by the U.S. Federal Aviation Administration, European Aviation Safety Agency, Civil Aviation Administration of China and seven other civil aviation authorities worldwide. In 2018, Appleton had nearly 500 aircraft visits.

Gulfstream Appleton’s new facility has several sustainable features, including sensitive land protection, rainwater management system, enhanced control systems for heating and cooling, optimized energy performance and electric vehicle charging stations. It is expected to receive U.S. Green Building Council Leadership in Energy and Environmental Design certification.

Dozens of Airbus A380’s Face Urgent Checks

August 21, 2019 / WIL BALDWIN

LONDON, Aug 21 (Reuters) – Investigators probing an engine explosion on an Air France A380 in 2017 are studying a possible manufacturing flaw in a recently salvaged cracked part in a move likely to trigger urgent checks on dozens of Airbus superjumbos, people familiar with the matter said.

The focus of a two-year-old investigation into the mid-air explosion over Greenland, which left the plane carrying more than 500 passengers with the front of one engine missing, has switched to the recently recovered “fan hub,” the people said.

The titanium alloy part is the centrepiece of a 3-metre-wide fan on engines built for the world’s largest airliner by U.S.-based Engine Alliance, co-owned by General Electric and United Technologies unit Pratt & Whitney.

It had sat buried in Greenland’s ice sheet since September 2017 when one of four engines on Air France flight 66 abruptly disintegrated en route from Paris to Los Angeles. It was prised from the ice in June after a high-tech aerial radar search.

Confirming the focus of the probe after Reuters reported the plans for inspections, France’s BEA air accident agency said it had discovered a “sub-surface fatigue crack” on the recovered part and the engine maker was preparing checks.

The people familiar with the matter linked the crack to a suspected manufacturing flaw and said the checks – to be carried out urgently on engines that have conducted a certain number of flights – would affect dozens of the double-decker jets.

The people said the suspect part was fabricated on behalf of consortium member Pratt & Whitney, which declined to comment.

Engine Alliance is one of two engine suppliers for the Airbus A380 in competition with Britain’s Rolls-Royce.

Its engines power a total of 152 aircraft or just over 60 percent of the 237 A380s in service.

Besides Air France, other airlines operating the A380 with Engine Alliance powerplants include Dubai’s Emirates, Qatar Airways, Abu Dhabi-based Etihad and Korean Air.

The checks will involve taking some planes out of service outside their usual maintenance schedules, one source said.

Investigations are not complete and are likely to tackle other features such as the loads or physical forces at play. Experts say air accidents are rarely caused by isolated factors.

Europe’s Airbus declined to comment.

SIOUX CITY REMEMBERED

Nobody was hurt in the September 2017 incident, in which the Air France superjumbo diverted safely to Goose Bay in Canada.

Although rare, uncontained engine failures, in which shrapnel capable of puncturing the fuselage exits an engine at extremely high speeds, automatically raise alarm.

The checks come weeks after relatives marked 30 years since an engine failure left a United Airlines DC-10 with almost no control, culminating in the death of 111 out of the 296 people on board during an attempted landing at Sioux City, Iowa.

U.S. investigators cited a defective titanium alloy part and weak inspection procedures, although they also praised the “highly commendable” performance of the crew of flight 232.

The July 1989 crash sped up improvements in manufacturing methods for titanium alloy. Experts say hidden internal defects in such parts are unusual but remain difficult to detect.

Titanium alloy is used widely in aerospace, which is the metal’s biggest customer due to its strength compared to the weight of each part and its ability to handle high temperatures.

(Reporting by Tim Hepher; Editing by Sudip Kar-Gupta and Elaine Hardcastle)

Qatar Agrees to Buy U.S. Aircraft, Engines, Defense Equipment

July 9, 2019 / WIL BALDWIN

(Bloomberg) — Qatar has made agreements with U.S. companies to spend billions on airplanes and jet engines and to develop a petrochemical complex, the White House said on Tuesday.

At least some of the deals were previously made but were publicly touted by the Trump administration Tuesday. Among them: Qatar Airways purchasing Boeing Co. 777 freighters and large-cabin aircraft from Gulfstream Aerospace, the private jet unit of General Dynamics Corp.

“They’re investing very heavily in our country,” Trump told reporters at the White House. “They’re creating a lot of jobs. They’re buying tremendous amounts of military equipment including planes.

Qatar’s defense ministry committed to acquire Raytheon Co.’s NASM and Patriot Systems, according to the White House. In addition, a unit of Chevron Corp. entered into an agreement with Qatar Petroleum for the development, construction and operation of a petrochemicals complex in Qatar.

The agreements, whose total cost wasn’t disclosed by the White House, were announced during a visit to the White House by the emir of Qatar, Sheikh Tamim Bin Hamad Al Thani.

The deals come amid a two-year economic blockade of Qatar led by U.S. ally Saudi Arabia and supported by nations including Egypt and the United Arab Emirates. Trump initially appeared to support the Saudi move — echoing its assertions that Qatar supported terrorists — even though it put the U.S. in an awkward position because it has a major military base in Qatar.

But Qatar has looked to improve relations in the U.S., with the emir saying the country was committed to doubling the economic partnership between the two countries. Mansoor bin Ebrahim Al Mahmoud, who leads the Qatar Investment Authority, said earlier this year that the country’s sovereign wealth fund will look to increase its U.S. investment portfolio from around $30 billion to about $45 billion over the next two years.

The country has also made significant gestures toward increasing its spending on U.S. defense contractors, with the U.S. approving a large weapons systems purchase ahead of Sheikh Tamim’s last visit to the country. In 2017, the country signed a deal to spend $12 billion for the purchase of 36 F-15QA fighter jets.

And the U.S. has announced plans to expand and renovate the al-Udeid Air Base near Doha, which houses the forward headquarters of the U.S. military’s Central Command and some 10,000 American troops. During a dinner with the leaders on Monday, Trump thanked Sheikh Tamim for Qatar’s $1.8 billion investment in the project which will be used to construct housing and entertainment facilities.

Several companies have released specifics of some of the agreements that were formalized on Tuesday.

Gulfstream said its deal is for $1 billion in corporate jets that General Dynamics announced in January without giving the customer’s name. Boeing said last month it made a deal to sell five 777 freighters at a list price of $1.8 billion.

Qatar Airways plans to use General Electric Co. jet engines for Boeing 787 and 777 aircraft, according to the White House.

A Chevron statement Tuesday said the company was signing a new agreement at the White House for a previously unannounced $8 billion U.S. Gulf Coast project. The White House statement mentions only a prior deal, announced last month, in which the company would join forces with Qatar Petroleum to build a facility in Qatar.

(Story by Justin Sink and Thomas Black, Edited by Alex Wayne, Justin Blum, and Larry Liebert)

Ten Killed in Dallas Area Private Plane Crash

July 1, 2019 / WIL BALDWIN

(Reuters) – Ten people were killed on Sunday when their private turboprop airplane crashed into a hangar during takeoff and burst into flames at the municipal airport in Addison, Texas, outside Dallas, an airport official said.

The twin-engine Beechcraft BE-350 King Air was destroyed by fire from the crash, according to Darci Neuzil, deputy director of Addison Airport, a general aviation facility located about 10 miles (17 km) north of downtown Dallas.

She said the plane had been headed for Florida when it took off at about 9 a.m. local time. Nobody on the ground was reported hurt, Neuzil added.

The plane had just lifted off the runway at the south end of the airport when it veered left, dropped its left wing and slammed into the hangar, the Dallas Morning News reported online, citing Addison fire department spokesman Edward Martelle.

There were no survivors among the 10 people who were aboard the aircraft, Neuzil said. Their identities were being kept confidential as authorities worked to notify next of kin.

“It’s a very sad day for Dallas County,” a local judge, Clay Jenkins, told the Dallas Morning News, which reported the plane had been en route to St. Petersburg, Florida. “My prayers are with the families we’re notifying about this tragedy.”

There was no official word on the cause of the crash. CBS News, citing unnamed sources, reported that the plane lost an engine on takeoff.

Video footage of the immediate aftermath showed flames and heavy, dark smoke billowing from the hangar, which according to local media was unoccupied at the time. Still photos posted online also showed a large gash in the side of the building.

Investigators from the U.S. National Transportation Safety Board were due to arrive on the scene later in the day, Neuzil told Reuters.

No further details about the circumstances of the crash were immediately available, Neuzil said.

Reporting by Steve Gorman in Los Angeles and Daniel Wallis in New York; Editing by Sandra Maler

GM to Boost Heavy-Duty Pickup Truck Production

June 12, 2019 / WIL BALDWIN

FLINT, Mich. (Reuters) – General Motors Co president Mark Reuss said on Wednesday that the automaker is investing about $150 million at its Flint Assembly plant in Michigan, to boost production of heavy duty trucks by another 40,000 vehicles a year.

Reuss announced the investment at the Flint truck assembly plant wearing a United Auto Workers pin.

The Detroit automaker announced in February it was adding 1,000 jobs in Flint to build a new generation of heavy-duty pickup trucks.

GM did not say that the latest investment would add more jobs at the plant, but Reuss said there could be opportunities to add workers as the launch of the automaker’s new trucks progresses.

FILE PHOTO: A Chevrolet 2020 heavy-duty pickup truck is seen at the General Motors Flint Assembly Plant in Flint

GM has been under pressure from U.S. President Donald Trump and lawmakers of both parties to add jobs in the United States after it said last November it would idle a small car assembly plant in Lordstown, Ohio, and had no new products for three other U.S. manufacturing plants.

The Flint investment will include upgrades to the plant’s conveyors and other new tooling, and will be completed in the first half of 2020. GM has invested more than $1.6 billion in the plant since 2013.

Last month, GM said it would invest $24 million to increase truck production at its assembly plant in Fort Wayne, Indiana, which makes Chevrolet Silverado and GMC Sierra models.

FILE PHOTO: The frames of Chevrolet 2019 heavy-duty pickup trucks sit on the assembly line in the paint department at General Motors Flint Assembly Plant

Sales of heavy-duty pickups in the United States have grown to more than 600,000 vehicles a year, up more than 20 percent since 2013, according to industry data. Prices for luxury models can easily top $70,000.

GM’s Chevrolet and GMC brands have long trailed Ford Motor Co’s F-series heavy duty trucks in the lucrative segment. The new Chevrolet and GMC heavy duty trucks have been re-engineered to tow heavier trailers, and keep pace in what has become an arms race among the Detroit Three automakers to claim superior torque and towing capability.

(Reporting by Joe White in Detroit and Sanjana Shivdas in Bengaluru; Editing by Sriraj Kalluvila and Nick Zieminski)

FILE PHOTO: A General Motors Co. assembly worker does quality control checks on the paint of Chevrolet 2019 heavy-duty pickup trucks in Flint

United Technologies & Raytheon to Create Defense Giant

June 10, 2019 / WIL BALDWIN

United Technologies, Raytheon to create $120 billion aerospace and defence giant

(Reuters) – United Technologies Corp agreed on Sunday to combine its aerospace business with U.S. contractor Raytheon Co and create a new company worth about $121 billion, in what would be the sector’s biggest ever merger.

The deal would reshape the competitive landscape by forming a conglomerate which spans commercial aviation and defense procurement. United Technologies provides primarily commercial plane makers with electronics, communications and other equipment, whereas Raytheon mainly supplies the U.S. government with military aircraft and missile equipment.

While United Technologies and Raytheon have some common customers, their business overlap is limited, an argument the companies plan to make once U.S. antitrust regulators start scrutinizing the merger.

However, the two major commercial aircraft makers, Boeing Co and Airbus SE, as well as the Pentagon, have been known to use their significant purchasing power to seek concessions from their suppliers and may not welcome a potential lessening in competition among them.

When United Technologies rebuffed an acquisition offer from Honeywell International Inc in 2016, United Technologies chief executive Greg Hayes justified the decision partly by predicting that Boeing and Airbus would never accept having a supplier that would “build the plane from tip to tail.”

United Technologies has said it is on track to separate its Carrier air conditioning and Otis elevator businesses, leaving the company focused on its aerospace business through its $23 billion acquisition of Rockwell Collins, which was completed in 2018, and the Pratt & Whitney engines business.

Chinese authorities scrutinized the acquisition of airplane parts maker Rockwell Collins closely, given the companies’ footprint in that country’s market. This resulted in the deal closing in November 2018, as opposed to the targeted third quarter.

Trade tensions between the United States and China were blamed at least partly by analysts for that delay, but a source close to the deal said the companies did not expect this to be repeated because Raytheon does not do business in China.

Under the deal announced on Sunday, Raytheon shareholders will receive 2.3348 shares in the combined company for each Raytheon share. The merger is expected to result in more than $1 billion in cost synergies by the end of the fourth year, the companies said.

United Technologies shareholders will own about 57% of the combined business, called Raytheon Technologies Corporation, which will be led by Hayes. Raytheon shareholders will own the remaining stake, and Raytheon CEO Tom Kennedy will be named executive chairman. The companies negotiated the terms over several months, according to the source, who requested anonymity discussing the confidential deliberations.

The deal has been structured so that no shareholder of either company will receive a premium. United Technologies and Raytheon have market capitalizations of $114 billion and $52 billion, respectively.

The deal is expected to close in the first half of 2020.

The newly created company is expected to return between $18 billion and $20 billion of capital to shareholders in the first three years after the deal’s completion, the companies said. The new company will also assume about $26 billion in net debt, they added.

DEFENSE SPENDING RISE

Raytheon, maker of the Tomahawk and the Patriot missile systems, and other U.S. military contractors are expected to benefit from strong global demand for fighter jets and munitions as well as higher U.S. defense spending in fiscal 2020, much of it driven by U.S. President Donald Trump’s administration.

However, Pentagon spending is projected to slow down after an initial boost under Trump. A deal with United Technologies would allow Raytheon to expand into commercial aviation.

Conversely, United Technologies could benefit from reducing its exposure to commercial aerospace clients amid concerns that the rise of international trade protectionism will suppress economic growth and weigh on the flow of goods through air traffic.

The International Air Transport Association, which represents about 290 carriers accounting for more than 80% of global air traffic, cited these concerns earlier this month, when it said the industry is expected to post a $28 billion profit in 2019, down from a December forecast of $35.5 billion.

The deal with Raytheon could put pressure on General Electric Co, which competes with United Technologies for commercial aerospace clients, to seek scale. It could also push other defense contractors, such as Lockheed Martin Corp, to explore expanding their commercial businesses.

Last year, military communication equipment providers Harris Corp and L3 Technologies Inc announced an all-stock merger that, once completed, will create the sixth-largest U.S. defence contractor.

Morgan Stanley, Evercore Inc and Goldman Sachs Group Inc were financial advisers to United Technologies, while Wachtell, Lipton, Rosen & Katz was its legal adviser. Citigroup Inc was financial adviser to Raytheon, and RBC Capital Markets LLC provided a fairness opinion. Shearman & Sterling LLP was legal adviser to Raytheon.

(Reporting by Harry Brumpton and Kate Duguid in New York; Additional reporting by Mike Stone in Washington and Rama Venkat in Bengaluru; Editing by Richard Chang and Rosalba O’Brien)

Air New Zealand Confirms Order for Eight Boeing 787 Jets

May 28, 2019 / WIL BALDWIN

WELLINGTON (Reuters) – Air New Zealand Ltd said on Monday it has ordered eight Boeing Co 787-10 Dreamliner jets worth $2.7 billion (2.12 billion pounds) at list prices, to be powered by General Electric Co engines, as part of a drive toward increased efficiency.

New Zealand’s flag carrier also trimmed its earnings outlook citing higher fuel prices, and said problems with Rolls-Royce Holdings PLC engines and a moderation in demand growth have impacted its financial and operational performance.

The new plane order confirmed a Reuters report last week that Boeing had beaten out rival Airbus SE, which had proposed the A350 for the hotly contested deal.

The airline, which has Rolls-Royce engines on its existing fleet of 13 787s, announced it had switched to GE engines for the new order.

The 787s will replace eight older 777-200ERs and leave the carrier with an all-Boeing wide-body fleet as well as Airbus A320 family jets for shorter flights.

The order comprises eight long-range 787-10s, with the agreement including an option to increase the number of aircraft to 20.

The deal also gives the airline, which has previously mentioned a goal of flying Auckland-New York non-stop, the option to switch some aircraft to the longer range 787-9s.

“With the 787-10 offering almost 15 percent more space for customers and cargo than the 787-9, this investment creates the platform for our future strategic direction and opens up new opportunities to grow,” Air New Zealand Chief Executive Christopher Luxon said in a statement.

The eight jets will enter the Air New Zealand fleet between 2022 and 2027, the airline said.

“The 787-10 has 95 percent commonality with Air New Zealand’s existing fleet of 787-9s and will provide the airline with added benefits in terms of capacity and overall operations,” Vice President of Boeing Commercial Sales and Marketing for Asia Pacific Christy Reese said.

The 787-10 is the largest member of Boeing’s Dreamliner series, and can serve up to 330 passengers in a standard two-class configuration, about 40 more than the 787-9 airplane.

The airline said the 787 was 25 percent more fuel efficient than the jets it is replacing, and noted that carriers typically receive large discounts on the list price of jets.

HEADWIND

In a separate announcement, Air New Zealand trimmed its 2019 earnings before taxation, saying it now expects to beat NZ$340 million ($223 million). That compared with a forecast range of NZ$340 million to NZ$400 million announced in late March.

The change was due to an additional NZ$25 million headwind from increased jet fuel prices, the company said.

The airline also said Rolls-Royce engine issues – in which components prematurely fail or needed extra checks – impacted 2,500 flights and led to 150 cancellations, affecting its financial performance.

Air New Zealand in March launched a two-year cost reduction programme and said it would defer spending on aircraft by about NZ$750 million ($491 million) as part of a business review.

In February, Air New Zealand slashed domestic fares by as much as 50 percent in a shake-up of its pricing structure in response to the slackening travel market.

(Reporting by Praveen Menon in Wellington, Aditya Soni in Bengaluru and Jamie Freed in Singapore; Editing Richard Pullin and Christopher Cushing)

After Successful 2018, Pilatus Prepares for the Future

May 9, 2019 / WIL BALDWIN

The business year 2018 was an exceptionally successful one for Pilatus, but also a challenging one. At around 1.1 billion Swiss francs, sales revenue was brought back to the billion mark again. The 128 aircraft delivered in total included the first PC-24 – a milestone in the company history. All in all, 18 PC-24s were handed over to customers in the past year.

Financial 2018 was better than the previous year. At 1,092 million Swiss francs, sales revenue surpassed the one billion mark for the first time since 2015. The operating result totals 157 million Swiss francs. And the future looks good: following incoming orders worth 1 billion Swiss francs, the current order volume stands at 2.1 billion Swiss francs – the equivalent of just under two years of sales revenue. A total of 128 aircraft were delivered to customers – 18 PC-24s, 80 PC-12 NGs, 27 PC-21s and three PC-6s.

PC-24 in focus

The delivery of the first PC-24 to the first customer in February 2018 marked a milestone in the development phase spanning over eleven years. The brand-new Super Versatile Jet was the focus of much work throughout 2018: besides bringing PC-24 series production operations up to speed, the customer service unit and entire service network also switched to “live” mode. Pilatus continued to make improvements to the PC-24 in parallel, pushing ahead with various post-certification test programmes aimed at delivering all aircraft capabilities promised to customers at the outset. The next milestone is just around the corner: the reopening of the PC-24 order book.

Customer service business grows in both pillars

Whilst the military sector is hugely important to Pilatus, the lack of new trainer fleet contracts in 2018 is not unduly worrying: Pilatus is focused on the necessary upstream work and has reinforced its sales efforts in this area. Constant growth in after-sales business is encouraging.

The Business Unit General Aviation also saw continued expansion of its customer service operations. The volume of PC-24s in operation grows with every week that passes, generating similar growth in the number of customers requiring support. The network of Authorised Pilatus Centres was further strengthened to offer customers around the world the level of service they are entitled to expect in the business aircraft league.

Preparing for success in the future

At the end of 2018 the Pilatus Group employed 2,283 people, including 127 apprentices. Over 150 new jobs were created. 93 percent of all employees work in Switzerland. At the headquarters in Stans work progresses on the construction of the new structure assembly hall: this new centre of competence for airframe construction operations will be commissioned in spring 2019 – a clear sign of commitment to the location in Switzerland.

The new completion centre run by the US subsidiary Pilatus Business Aircraft Ltd in Broomfield, Colorado, opened in the autumn. In Adelaide, preparatory work continued for the construction of a new, company-owned building for the subsidiary, Pilatus Australia Pty Ltd.

Commenting on these results, Chairman Oscar J. Schwenk remarked: “I am pleased to note that financial 2018 was a very successful year for us. A year in which a great deal of energy went into performing much detailed work. Work which will take us forward throughout the coming year, creating added benefit for our customers. The good financial results of the past year will also benefit our employees under our profit-sharing programme. In addition to an extra month’s salary, they have also been paid a bonus of 1.5 salaries. Our next challenge is already in sight: the imminent re-opening of the PC-24 order book. This is the year in which the reputation of the PC-24 and all other related services will be established. We are consistent in our efforts towards that goal, thereby consolidating our success and our future.”

Boeing Supplier Spirit AeroSystems Suspends Outlook

May 1, 2019 / WIL BALDWIN

(Reuters) – Boeing Co’s largest supplier Spirit AeroSystems Holdings Inc reported strong first-quarter results on Wednesday, while following the planemaker in suspending its full-year outlook in the face of the global grounding of 737 MAX jets.

The crisis with Boeing’s most popular aircraft has thrown into doubt orders for a raft of parts makers who have been investing heavily to meet record-breaking demand from the world’s biggest planemaker over the past two years.

Spirit, which makes fuselage, structural engine components and wing parts for the MAX, did a deal with Boeing last month to stick to its current parts delivery schedules for now, and its profits in the first quarter were up 30 percent, according to Wednesday’s quarterly results.

Boeing however has announced cutbacks in its monthly production of MAX jets to 42 from 52 and while it says it is nearing certification for a software fix for the jet, airlines are assuming the planes will not be back in the air before August.

Spirit said with the uncertainty around MAX production it could not stand by its previous full-year outlook which had factored production for MAX jets rising to 57 units per month in June.

“As we now expect to remain at 52 aircraft per month for some period of time, (prior) guidance does not reflect our current outlook,” Spirit Chief Executive Officer Tom Gentile said, adding he was waiting for more clarity from Boeing on MAX’s return to service.

MAX’s other major supplier General Electric Co, which makes engines with Safran SA of France, on Tuesday stuck to its full-year forecasts, while highlighting risk due to MAX’s reduced production.

Another MAX supplier United Technologies Corp last month included an up to 10 cents per share impact in its full-year profit outlook from the groundings of the jet, assuming Boeing produced at 42 aircraft per month for the rest of the year.

Spirit, whose shares are down about 10 percent since the fatal crash of the Ethiopian Airlines’ jet on March 10, rose as much as 3.5 percent to $89.96 in morning trade.

“Given that (Spirit’s) shares have already notably sold off, we think much of this … has been discounted into the price,” Vertical Research Partners Krishna Sinha said.

The company said it has taken actions including deferring capital investments and pausing hiring and share repurchases to mitigate the financial impact of the MAX production change.

On an adjusted basis, Spirit earned $1.68 per share, beating analysts’ average estimate of $1.64 per share, according to IBES data from Refinitiv.

Total revenue rose 13.4 percent to $1.97 billion (£1.51 billion), beating estimates of $1.93 billion.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

China’s First Airbus H215 Helicopter Delivered to SGGAC

April 25, 2019 / WIL BALDWIN

From http://www.airbus.com

Beijing – China’s State Grid General Aviation Company (SGGAC) has taken delivery of one heavy twin-engine Airbus H215 helicopter – a member of the mission-proven Super Puma family – becoming the launch customer for the H215 in China.

A subsidiary of the State Grid Corporation of China (SGCC), the world’s largest utility company, SGGAC performs aerial construction and maintenance work along China’s network of high and very-high voltage power lines.

The H215 will join the company’s existing fleet of 15 Airbus helicopters, comprised of H125s, an H120 and an H225. This addition will enable SGGAC to perform new missions such as cable repair, cable laying, cargo transportation, and power line pylons constructions in difficult-to-reach areas.

The helicopter comes equipped with a 4.5-ton cargo sling, hoists, weather radar, and a wire-strike protection system. The configuration features 17 comfortable seats equipped with oxygen jackets for high altitude missions.

“Our cooperation with Airbus Helicopters since 2012 has been a true success. Thanks to the H215’s outstanding performance in high and hot conditions coupled with strong support and services from Airbus Helicopters, we are confident that we will continue to develop our capabilities performing new utility missions,” said Wu Jielong, Chairman of SGGAC.

“It’s an honour to see SGGAC becoming the first operator of the H215 in China”, said Marie-Agnes Veve, General Manager of Airbus Helicopters China. “This achievement reinforces the long-term and strategic cooperation we have developed with the company, which also became a certified Airbus Helicopters’ maintenance, repair and overhaul (MRO) centre in China in 2018.”

The H215 combines advanced avionics and a reliable platform for rugged multi-mission capabilities in the world’s harshest environments. Its baseline configuration offers extremely competitive direct operating and maintenance costs. Standard features include proven Makila 1A1 engines, the latest generation flight management system, and the most modern technologies, which includes a glass cockpit avionics system and the renowned 4-axis autopilot from Airbus Helicopters’ advanced H225.

The introduction of this H215 increases China’s Super Puma fleet to nearly 40 aircraft, performing a wide range of missions from oil & gas to aerial work to VIP transportation. The fleet is supported by Airbus Helicopters’ China technical team, its approved helicopter MRO centre in Shenzhen, and an H225 full flight simulator located in Beijing.

About Airbus
Airbus is a global leader in aeronautics, space and related services. In 2018 it generated revenues of € 64 billion 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.

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