Tag: support (Page 9 of 17)

Mesa Air Group Reports Fourth Quarter, Full-Year 2020 Profit

December 9, 2020 / WIL BALDWIN

Mesa Air Group, Inc. (NASDAQ: MESA) today reported fourth quarter and full-year fiscal 2020 financial and operating results.

Mesa’s Q4 2020 results reflect net income of $11.4 million, or $0.32 per diluted share, compared to net income of $12.2 million, or $0.35 per diluted share for Q4 2019. Mesa Q4 2020 results include, per GAAP, the deferral of $7.8 million of revenue, all of which was billed and paid by American and United during the quarter and will be recognized over the remaining terms of the contracts. Mesa’s Adjusted EBITDA¹ for Q4 2020 was $44.6 million, compared to $50.8 million in Q4 2019, and Adjusted EBITDAR¹ was $54.2 million for Q4 2020, compared to $61.9 million in Q4 2019. For Q4 2020 revenue was $108.0 million, a reduction of $79.8 million (42%) from $187.8 for Q4 2019 primarily due to the reduced flying as a result of COVID-19. During the quarter Mesa recognized $40.8 million as an offset to wages and salaries related to the previously announced Payroll Support Program Agreement (“PSP”), which required Mesa to retain all of its employees.

Operationally, the Company ran a 99.8% controllable completion factor, compared to 99.0% in Q4 2019, and a total completion factor of 98.2%, which primarily includes weather, close-in capacity reductions driven by reduced demand, and other uncontrollable cancellations, compared to 96.9% in Q4 2019.

Full Year

Mesa reported net income of $27.5 million, or $0.78 per diluted share for the 2020 fiscal year, compared to net income of $47.6 million, or $1.36 per diluted share for the 2019 fiscal year. Excluding special items for both periods, adjusted net income¹ was $27.5 million or $0.78 per diluted share for the 2020 fiscal year, compared to $57.5 million or $1.64 per diluted share for the 2019 fiscal year. Mesa fiscal 2020 results include, per GAAP, the deferral of $23.8 million of revenue, all of which was billed and paid by American and United during the year and will be recognized over the remaining terms of the contracts. Mesa’s Adjusted EBITDA¹ was $163.3 million in fiscal year 2020, compared to $208.7 million in fiscal year 2019 and Adjusted EBITDAR was $212.1 million in fiscal year 2020, compared to $260.9 million in fiscal year 2019. For fiscal year 2020, revenue was $545.1 million, a reduction of $178.3 million (25%) from $723.4 million for fiscal year 2019, primarily due to the reduced flying as a result of COVID-19. During the year, Mesa recognized $83.8 million as an offset to wages and salaries related to the previously announced Payroll Support Program Agreement (“PSP”), which required Mesa to retain all of its employees as of April 20, 2020.

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¹ See Reconciliation of non-GAAP financial measures

Fiscal 2020 Q4 Highlights

– EPS of $0.32, Full Year $0.78

– Year-end cash increased by $34.5 million to $99.4 million

Recent Updates

– Amended capacity purchase agreement with American to operate 40 CRJ-900s for a five-year term

– Commenced cargo operations for DHL with two Boeing 737-400F

– Added 10 new E175 aircraft to our United fleet in November and December

– Entered into a $195 million loan under the CARES Act with the U.S. Treasury

EmbraerX and Airservices Australia Release Concept for Urban Air Mobility

December 6, 2020 / WIL BALDWIN

EmbraerX, Embraer’s disruptive business subsidiary, and Airservices, Australia’s civil air navigation service provider, have developed a new concept of operations (CONOPS) for the air taxi market, also known as urban air mobility (UAM). Going forward, Eve Urban Air Mobility Solutions, the new EmbraerX spin-off, will be responsible for this partnership with Airservices and for the development of Urban Air Traffic Management solutions.

Australia is one of the countries benefitting from this innovation revolution and is attracting industry interest and investment, largely due to strong government support and a world-leading aviation safety record. This CONOPS was created to help safely introduce and accelerate the growth of the UAM market in Australia.

This CONOPS explores new and practical concepts to safely facilitate the introduction of the air taxi industry. Using the City of Melbourne, Australia as a model, the CONOPS examines how existing air traffic management solutions can initially enable UAM operations while simultaneously preparing for scale of operations through new traffic management technologies.

The CONOPS leverages Airservices’ sophisticated simulation technology to demonstrate how air taxis could be integrated with existing airspace users in the highly complex Melbourne airspace. This level of simulation provides a scientific basis to the CONOPS.

David Rottblatt, Project Leader for EmbraerX’s Urban Air Traffic Management and appointed to be the future Vice President of Business Development for Eve said, “This CONOPS proposes a safe method for allowing the UAM industry in Australia to scale. Following this first critical step, we will start gathering feedback from industry stakeholders and the community to further inform how we can co-create this exciting future.”

The Republic of Mali Orders an Additional Airbus C295

December 2, 2020 / WIL BALDWIN

The Ministry of Defence of the Republic of Mali has placed a firm order for an additional Airbus C295 airlifter in the transport configuration. This second aircraft, to be delivered in 2021, will supplement the first C295 already in operation since December 2016 which has already accumulated 1,770 flight hours and transported more than 38,000 passengers and 900 tonnes of cargo in less than four years of operations.

This new order also includes an integrated logistics support package with spare parts for the two aircraft and training for flight crews and mechanics.

This acquisition is in response to the urgent need of the authorities of the Republic of Mali to have permanent air transport capacity within a very short timeframe, providing a vital link supporting operations and actions for the development of isolated areas in the northern regions of the country. Bernhard Brenner, Head of Marketing and Sales at Airbus Defence and Space, said: “This repeat order demonstrates the excellent capabilities and performance of our aircraft. The C295 is becoming the 21^stcentury standard tactical airlifter in Africa with 37 aircraft ordered in the region, from Algeria, Egypt and Ghana to Ivory Coast, Burkina Faso and Mali.”

F-35 Proposal Submitted To Swiss Government

November 22, 2020 / WIL BALDWIN

The U.S. government and Lockheed Martin (NYSE: LMT) submitted an F-35 proposal to the Swiss government in support of Switzerland’s New Fighter Aircraft (NFA) competition.

The F-35 proposal is a total package offering that includes up to 40 F-35A aircraft, a sustainment solution tailored to Swiss autonomy requirements, and a comprehensive training program.

The offering includes an industrial package providing Swiss industry substantial F-35 work opportunities. Should the F-35 be selected as the new fighter for Switzerland, this industrial work would take place in all Swiss regions. Swiss industry has the opportunity to compete for direct production of components for use on all F-35s produced, sustainment projects focused on supporting the Swiss Air Force and enhancing Swiss autonomy, and cyber security projects directly related to the F-35.

The offer uses the F-35 Global Support Solution for sustainment to ensure Switzerland benefits from the European F-35 economies of scale to realize lower sustainment costs for the Swiss Air Force. It also includes a six-month spares package to ensure the Swiss Air Force has the ability to conduct autonomous operations, if needed. Lockheed Martin is also offering an option for the assembly of four aircraft in Switzerland to ensure the Swiss Air Force and Swiss industry gain an understanding of how to maintain the F-35 airframe and its advanced capabilities for the life of the program.

“We are confident that our F-35 offer is the best and most affordable solution for the Swiss NFA competition,” said Greg Ulmer, F-35 Program vice president and general manager. “We are offering the only 5^th generation fighter at the cost of 4^th generation aircraft while offering Switzerland an aircraft that will protect Swiss sovereignty for decades to come.”

To date, the F-35 has been selected by 13 nations and operates from 26 bases worldwide, with nine nations operating F-35s on their home soil. There are more than 585 F-35s in service today, with more than 1,190 pilots and 9,750 maintainers trained on the aircraft.

Hungary Signs Contract For Two Multi-Mission KC-390 Millennium Airlifters

November 18, 2020 / WIL BALDWIN

Budapest, Hungary, November 17th, 2020 – The Hungarian Government and Embraer signed today a contract for the acquisition of two new generation multi-mission transport aircraft Embraer C-390 Millennium, in its air-to-air refueling (AAR) configuration, designated KC-390. Additionally, pilots and technicians training as well as other services and support are included in the contract as part of the process to strengthen the Hungarian Defence Forces capabilities specifically on the tactical airlift, AAR and medical evacuation roles as well as in other missions of public interest. Deliveries are scheduled to start in 2023.

“Following the procurement of personnel air transport capabilities in 2018, we will see the arrival of KC-390 aircraft to Hungary in 2023-24, able to deliver large military loads in an operational environment, as well as providing air-to-air refueling services. We are acquiring a multi-role transport fleet for the Hungarian Defence Forces to fulfill the widest possible range of tasks within the national framework, in a sovereign way,” said Gáspár Maróth, government commissioner responsible for defence development.

“We are honored for being selected by the Hungarian Government and the Hungarian Defense Forces to provide the most advanced multi-mission transport aircraft available in the market,” said Jackson Schneider, President and CEO of Embraer Defense & Security. “Hungary is the second European nation and NATO operator to select the C-390 Millennium, a highly capable aircraft that offers excellent productivity through unrivalled combination of speed, payload and rapid reconfigurability for multi-mission operations.”

The KC-390 for the Hungarian Defence Forces will be the first in the world with the Intensive Care Unit in its configuration, an essential feature to perform humanitarian missions. The aircraft fully meets the requirements of the Hungarian Defense Forces, being able to perform different types of military and civilian missions including Humanitarian Support, Medical Evacuation, Search and Rescue, Cargo and Troops Transport, Precision Cargo Drop, Paratroopers Operations and AAR. These KC-390 are fully NATO compatible, not only in terms of its hardware but also in its avionics and communications configuration. Furthermore, the KC-390 probe and drogue refueling system means the aircraft can refuel the Hungarian JAS 39 Gripen as well as other aircraft that use the same technology.

The C-390 Millennium is fully operational and, since receiving its first aircraft in 2019, the Brazilian Air Force has deployed the airlift on several critical missions in Brazil and abroad with greater availability. Also, the Portuguese Government signed a contract for the acquisition of five C-390 Millennium in 2019 that are currently in the production line and will be in service in 2023.

The C-390 is a tactical transport jet aircraft designed to set new standards in its category. Some of the strong aspects of the aircraft are increased mobility, rugged design, higher flexibility, state-of-the-art proven technology and easier maintenance. Flying faster and delivering more cargo, both the C-390 Millennium and the KC-390 variant are the right sized platform for major deployment scenarios. Minimized interventions and on condition maintenance combined with highly reliable systems and components support the reduced downtime and costs, contributing to outstanding availability levels and low life cycle costs.

Boeing Says More Freighters Needed to Support Global Supply Chains

November 17, 2020 / WIL BALDWIN

Boeing [NYSE: BA] today released its biennial World Air Cargo Forecast (WACF), reflecting COVID-19 impacts and opportunities as well as substantial long-term demand for freighters over the next two decades.

Enabled by a rebound in global trade and long-term growth, the WACF forecasts demand for 2,430 freighters over the next 20 years, including 930 new production freighters and 1,500 freighters converted from passenger airplanes.

According to the new forecast, world air cargo traffic will grow at 4% per year over the next 20 years. This growth is influenced by trade and growing express shipments to support expanding e-commerce operations. With these developments and the proven need for dedicated freighter capacity to support the world’s transportation system, the global air cargo fleet is expected to grow by more than 60% through 2039.

“Freighter operators have been in a unique position in 2020 to meet market requirements for speed, reliability and security, transporting medical supplies and other goods for people and communities around the world,” said Darren Hulst, vice president of Commercial Marketing. “Looking ahead, dedicated freighters will be even more critical to compete in air cargo markets; they carry more than half of air cargo traffic, and airlines operating them earn nearly 90% of air cargo industry revenue.”

In addition to projecting long-term demand for freighters, the WACF provides insights into air cargo performance during the pandemic, including the following:

– E-commerce, which was growing at double-digit rates prior to the pandemic, has accelerated its impact on the air cargo market as more businesses shifted to online selling platforms. Year to date through September, express carriers increased traffic by 14%

– Passenger belly cargo, which in 2019 accounted for about half of the world air cargo capacity, was significantly reduced when airlines parked thousands of planes. Freighter operators responded by operating above normal utilization levels, and traffic for all-cargo carriers grew 6%

– So far in 2020, approximately 200 airlines used more than 2,000 passenger widebody aircraft for cargo-only operations to generate cash flow and support global supply chains. These passenger freighters have taken up some of the capacity shortfall and, in some cases, generated quarterly profits for carriers despite minimal passenger operations

F-15QA1 and F-15QA2 Air to Air. Includes Arch Fly-by, St. Louis, MO. MSF20-0028 Series.

Boeing Secures Over $800M in Middle East Training and Support Contracts

November 11, 2020 / WIL BALDWIN

– Qatar Emiri Air Force to receive aircrew and maintenance training support for F-15QA aircraft

– Comprehensive support includes pre-delivery training and maintenance, and in-country services support

Boeing [NYSA: BA] today acknowledged three foreign military sales contracts with the U.S. Air Force for training services and support in the Middle East valued at more than $800 million.

The first previously unannounced contract was awarded in 2019 and will support the Qatar Emiri Air Force (QEAF) with F-15QA program management, maintenance and aircrew training valued at $240 million over a five-year contract period.

Boeing also received a separate not-to-exceed $68 million contract to provide maintenance and logistics support for the QEAF during their pre-delivery training for the F-15QA aircraft, which will commence early next year. The QEAF will send pilots and weapon system operators to the U.S., where the aircrews will learn how to independently operate the F-15QA ahead of receiving their new aircraft. Training will include in-person instruction, simulation events and flying operations and will be held near Boeing’s F-15 production facility in the U.S. through mid-2021.

Following this, Boeing will establish and operate an aircrew and maintenance training center for the QEAF at Al Udeid Air Base, Qatar, through 2024.

A third contract awarded in November and valued at more than $500 million will provide the QEAF with in-country spares and logistics support once the aircraft are delivered to Qatar.

“The tailored training and sustainment delivered by our team, coupled with Boeing’s platform expertise, allows us to deliver a holistic solution to our Qatari customer so they can optimize the full capability of their fleet with high availability rates,” said Tim Buerk, director of Middle East defense services for Boeing. “We look forward to our continued partnership with Qatar and further supporting their mission readiness needs.”

The F-15QA is an advanced variant of the undefeated F-15 aircraft. The Advanced F-15 features next-generation technologies that offer more speed, range and payload than any other fighter in its class. Boeing will deliver 36 F-15QA aircraft to Qatar starting in 2021.

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. 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.

Collins Aerospace and GKN Fokker Services Ink MRO Agreement

October 26, 2020 / WIL BALDWIN

– Expanded FlightSense On-Site Support agreement for Collins Aerospace’s Integrated Drive Generator (IDG) includes new part numbers for Airbus A320neo operators

Collins Aerospace Systems, a unit of Raytheon Technologies Corp. (NYSE: RTX), and Fokker Services, a GKN Aerospace company, today announced the expansion of an existing 10-year FlightSense On-Site Support agreement for Collins Aerospace’s Integrated Drive Generators (IDG’s). The expanded contract will add new IDG part numbers for the Airbus A320neo, while Collins Aerospace will continue to manage Fokker Services’ onsite inventory of IDG components, providing competitive rates for OEM-quality parts and improved shop efficiency. Fokker Services, in turn, will now be able to repair Collins Aerospace IDGs for the A320neo at its Amsterdam Airport Schiphol facilities.

The IDG provides primary electric power for the aircraft electrical system by converting variable engine input speed to a constant output speed, thus enabling the generator portion of the IDG to produce alternating current at a constant frequency.

“Collins Aerospace is pleased to continue building on its longstanding relationship with Fokker Services,” said Ryan Hudson, vice president, Aftermarket, Power & Controls for Collins Aerospace. “This agreement will help Fokker Services streamline supply chain operations, increase repair reliability and lower operational cost to better serve its customers with quality repairs of Collins Aerospace components.”

“As a leading aerospace service provider, we are proud to work with Collins Aerospace to provide MRO support for these components to operators,” said Ben Scharrenberg, director, Procurement for Fokker Services. “We bring added value based on many years of experience in supporting component MRO, our high quality standards including FAA, EASA and CAAC approvals, and our service expertise. We look forward to supporting our customers and to further expanding our relationship as Collins Aerospace’s channel partner.”

As part of the contract, Fokker Services will support airlines, MROs and Integrators with flexible, reliable and competitive OEM solutions for Collins Aerospace IDGs. The support includes:

– OEM parts & warranty

– Dedicated 24/7 customer service representative

– Quick Turn-Around-Time and performance guarantee

– Reliability monitoring services to ensure top quality

– Exchange inventory available to support the next removal

Embraer Delivers Six A-29 Super Tucano to Philippine Air Force

October 15, 2020 / WIL BALDWIN

All six Super Tucano aircraft ordered by The Philippine Air Force (PAF) have been officially handed over to the Air Force today. The aircraft will be deployed for close air support, light attack, surveillance, air-to-air interception, counter-insurgency missions, advanced training and are part of PAF’s ongoing modernization plan.

“The Philippine Air Force takes pride in welcoming the six A-29B Super Tucano from Embraer Defense and Security into the blue fold of our skies as part of our fleet. The addition of these close air support aircraft is a great leap in our air power capability as we soar together in our flight to a more capable and credible Air Force for the nation and its people,” Lieutenant General Allen T. Paredes AFP, Commanding General of the Philippine Air Force.

“It is an honour to deliver these six A-29 Super Tucanos to The Philippine Air Force,” said Jackson Schneider, President and CEO of Embraer Defense & Security. “Delivering an aircraft amidst a global pandemic is challenging, but we were committed to go the extra mile every step of the way to have the aircraft in the hands of PAF to fulfil their security missions.”

These aircraft will be operated and maintained by the 15th Strike Wing, the PAF’s end-user. In November 2017, a firm order of six A-29 Super Tucano light attack and advanced training aircraft for the Philippine Air Force (PAF) was made after a comprehensive public bidding process.

The A-29 Super Tucano is a durable, versatile and powerful turboprop aircraft capable of carrying out a wide range of missions, even operating from unimproved runways. To date, the Super Tucano was selected by 15 air forces worldwide.

Beechcraft King Air 360/360ER Achieves FAA Type Certification

October 7, 2020 / WIL BALDWIN

Textron Aviation today announced it has achieved Type Certification by the Federal Aviation Administration (FAA) for its newest flagship twin turboprop Beechcraft King Air 360/360ER aircraft, paving the way for customer deliveries to commence in the coming weeks. Announced in August 2020, the Beechcraft King Air 360 demonstrates the company’s commitment to ongoing product development, bringing the latest innovations to the legendary aircraft and providing added value for customers.

The Beechcraft King Air 360/360ER is designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company.

“The new era of the industry-leading Beechcraft King Air begins today,” said Chris Hearne, senior vice president, Engineering and Programs. “The King Air 360 is a perfect combination of customer input, innovative technology and next-generation capabilities. By incorporating superior features and engineering advancements into an aircraft that is renowned for its versatility and reliability, we have elevated the King Air to the next level. With certification now in hand, we are thrilled to soon get these aircraft into the hands of our eager customers.”

The King Air 360 ushers in the next generation of the legendary King Air turboprop family, building on its reputation of versatility and reliability. The newly upgraded aircraft offers the latest technological advancements in the cockpit, a redesigned cabin and enhancements to passenger comfort.

Cockpit upgrades

Among the key features of the King Air 360 cockpit is the addition of the Innovative Solutions & Support (IS&S)ThrustSense Autothrottle. The autothrottle supports pilots in their critical mission of delivering people or cargo safely by automatically managing engine power from the takeoff roll through the climb, cruise, descent, and go-around phases of flight. This enhancement reduces pilot workload and supports them in their continuous vigilance to prevent over-speed or under-speed, over-temp and over-torque conditions.

Another important update in the cockpit is the new digital pressurization controller, which automatically schedules cabin pressurization during both climb and descent, reducing pilot workload and increasing overall passenger comfort. The pressurization gauges have been integrated with the powerful Collins Aerospace Pro Line Fusion flight deck.

Cabin upgrades

With standard seating for nine passengers, the latest King Air offers an even greater passenger experience than its predecessor. The aircraft features a cabin altitude of 5,960 feet at a typical cruising altitude of 27,000 feet – more than 10 percent lower when compared to the King Air 350i. The improved cabin altitude level provides greater comfort for passengers, especially during longer flights.

A redesigned cabin features a stunning new look with custom-built cabinetry, partitions and side ledges, upgraded materials and finishes, along with all new interior schemes. Other amenities that come standard on the entire King Air lineup include pull-out work tables, standard power outlets, USB charging stations and a private aft lavatory.

King Air leadership

Nearly 7,600 Beechcraft King Air turboprops have been delivered to customers around the world since 1964, making it the best-selling business turboprop family in the world. The worldwide fleet has surpassed 62 million flight hours in its 56 years, serving roles in all branches of the U.S. military and flying both commercial and special mission roles around the world.

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