The Airbus Group SE (Paris: AIR) THEOS-2 Earth observation satellite has been successfully launched on a Vega rocket from Kourou, Europe’s spaceport in French Guiana. The Geo-Informatics and Space Technology Development Agency of Thailand (GISTDA) selected Airbus as partner for its next-generation national geo-information system in 2018.
THEOS-2 follows the Airbus-built THEOS-1 satellite launched in 2008, which still continues to deliver imagery well beyond its 10-year operational lifetime. In the frame of THEOS-2 programme, GISTDA’s geo-information system benefits from satellite imagery collected by the Airbus constellation of optical and radar Earth observation satellites such as Pléiades and TerraSAR-X.
The contract also includes a second Earth observation satellite – THEOS-2 SmallSAT – from Airbus’ subsidiary SSTL, combined with a comprehensive capacity building programme involving Thai engineers in the development of applications, ground segment and the SmallSAT spacecraft itself. THEOS-2 SmallSAT is based on SSTL’s CARBONITE series of Earth observation spacecraft and has been delivered to Thailand.
THEOS-2 satellite in anechoic chamber – Copyright Airbus
Helvetic Airways of Switzerland received the first of four new E195-E2 aircraft today at the Embraer (NYSE: ERJ) facility in São José dos Campos. Helvetic will receive three further E195-E2’s by the end of next month, July 2021.
Helvetic ordered 12 E-Jet E2’s in 2018 to support its fleet renewal initiative: 8 E190-E2’s (already in service) and four E195-E2’s (converted from the original E190-E2 order). The airline also holds purchase rights for an additional 12 aircraft. The Helvetic fleet also includes four first-generation E190’s. When the three remaining E195-E2’s are delivered, the carrier will have a fleet of 16 E-Jets.
With Embraer, the airline has developed a fleet providing maximum flexibility to deploy its 134-seat E195-E2’s, 110-seat E190-E2’s, and 112-seat E190’s across its European network. Thanks to the common crew type rating for all E-Jets, Helvetic can seamlessly schedule the three different E-Jet models to satisfy variations in demand, maximizing operating economics.
Speaking at the delivery event broadcast to Helvetic employees in Europe, Arjan Meijer, President and CEO of Embraer Commercial Aviation said, “With the new E195-E2, Helvetic builds on its reputation as one of the most environmentally committed airlines in Europe. Not only does the aircraft burn 25% less fuel than its predecessor, its noise footprint is 65% smaller. The E2’s are great news for communities near airports.”
Marignane,France 16 June 2021 – SAF Group will be operating three more five-bladed Airbus H145 helicopter’s for emergency medical services (EMS). These three aircraft will be based in Grenoble, Valence, and Montpellier. They will complement the three H145s already ordered by SAF in 2018 and 2020, the first of which was delivered recently and will be deployed for EMS missions in Belgium.
SAF is a key actor of EMS in France and Europe. This French company already operates 55 Airbus helicopters. SAF’s fleet includes a Super Puma, H135s and H125s. The H145 will bring increased capabilities for the EMS missions.
The new version of Airbus’ best-selling H145 light twin-engine helicopter was unveiled at Heli-Expo 2019 in Atlanta in March. This latest upgrade adds a new, innovative five-bladed rotor to the multi-mission H145, increasing the useful load of the helicopter by 150 kg. The simplicity of the new bearingless main rotor design will also ease maintenance operations, further improving the benchmark serviceability and reliability of the H145, while improving ride comfort for both passengers and crew. The helicopter’s high-mounted tail boom and wide opening clam-shell doors facilitate access to the H145’s spacious cabin.
Today, Airbus has more than 1,470 H145 Family helicopters in service around the world, logging a total of more than six million flight hours. For EMS alone, there are more than 470 helicopters of the H145 family conducting air rescue missions worldwide.
PRNewswire/ — For the first time in history, the U.S. Navy and Boeing [NYSE: BA] have demonstrated air-to-air refueling using an unmanned aircraft – the Boeing-owned MQ-25™ T1 test asset – to refuel another aircraft.
During a test flight on June 4, MQ-25 T1 successfully extended the hose and drogue from its U.S. Navy-issued aerial refueling store (ARS) and safely transferred jet fuel to a U.S. Navy F/A-18 Super Hornet, demonstrating the MQ-25 Stingray’s ability to carry out its primary aerial refueling mission.
During the initial part of the flight, the F/A-18 test pilot flew in close formation behind MQ-25 to ensure performance and stability prior to refueling – a maneuver that required as little as 20 feet of separation between the MQ-25 T1 air vehicle and the F/A-18 refueling probe. Both aircraft were flying at operationally relevant speeds and altitudes. With the evaluation safely completed, the MQ-25 drogue was extended, and the F/A-18 pilot moved in to “plug” with the unmanned aircraft and receive the scheduled fuel offload.
The milestone comes after 25 T1 flights, testing both aircraft and ARS aerodynamics across the flight envelope, as well as extensive simulations of aerial refueling using MQ-25 digital models. MQ-25 T1 will continue flight testing prior to being shipped to Norfolk, Virginia, for deck handling trials aboard a U.S. Navy carrier later this year.
The Boeing-owned T1 test asset is a predecessor to the seven test aircraft Boeing is manufacturing under a 2018 contract award. The MQ-25 will assume the tanking role currently performed by F/A-18s, allowing for better use of the combat strike fighters and helping extend the range of the carrier air wing.
SAS has selected CFM International LEAP-1A engines to power its new fleet of 35 A320neo family aircraft ordered in 2018. This agreement also includes eight spare engines. In addition, SAS has signed with CFM a Rate-Per-Flight-Hour (RPFH) support agreement to cover its new fleet of LEAP-1A engines, including spares, as well as 15 additional LEAP-1A-powered A320neo on lease.
This new agreement is part of SAS’ fleet upgrade program that aims to improve efficiency and sustainability performances. SAS has been at the forefront of introducing technologies that reduce the impact of aviation on the environment, as well as choosing efficient engines to power its fleet.
SAS was a launch customer for CFM’s advanced LEAP-1A engine that it selected in 2011 to power the first batch of 30 A320neo. SAS currently operates 44 A320neo aircraft and 1 A321neo LR powered by the fuel-efficient LEAP engine and plans to introduce two additional A321neo LR.In total SAS orders for purchased and leased aircraft placed in 2011 and 2018 will enable SAS to increase the fleet of A320neo to 80.
CFM International’s advanced LEAP-1A engine continues to set a new industry standard for fuel efficiency and asset utilization, logging more than seven million engine flight hours in commercial operations. The fleet is demonstrating a 15 percent better fuel consumption and CO2 reductions as well as a significant improvement in noise emissions compared to the best CFM56 engines.
Air Saint-Pierre has taken delivery of its new ATR 42-600 aircraft, following the signature of a Memorandum of Understanding in July 2018. Based on one of the three main islands of Saint Pierre and Miquelon (around 6,300 inhabitants), Air Saint-Pierre is essential to the archipelago’s economy, as it flies both passengers and goods to Miquelon, St. John’s, the Magdalen Islands, Halifax and Montreal. The new aircraft will replace the airline’s existing ATR 42-500 which has been in operation since 2009.
In addition to benefitting from unbeatable environmental performance and economics, the ATR 600’s proven ability to operate effectively in windy conditions is vital for Air Saint-Pierre. The -600 series can take-off and land in cross wind conditions of 45 knots, a unique capability which enables the airline to offer reliable air services to its communities. Air Saint-Pierre’s passengers will also enjoy the modernity and comfort of the Armonia cabin, whilst the airline’s pilots will appreciate the state-of the-art avionics suite, resulting in a smoother flying experience for all.
Benoît Olano, Chief Executive Officer of Air Saint-Pierre, said: “We are looking forward to starting operations with our new ATR aircraft. We have been flying ATR since 1994, starting with an ATR 42 320, and the turboprop’s unique capabilities and continuous improvement have made it the ideal aircraft for our operations over the years. We will continue to provide to the people of Saint-Pierre and Miquelon the connectivity they need, along with greater comfort, whilst limiting our impact on the environment.”
ATR Chief Executive Officer, Stefano Bortoli added: “There is nothing more satisfying than seeing a loyal customer upgrade its fleet. Delivering regional connectivity in the challenging operational conditions of Saint Pierre and Miquelon and its neighbouring islands takes a special aircraft and the ATR 42-600 is the perfect fit. The airline’s operations are vital for the archipelago’s communities and we are truly glad to see our aircraft once again accomplish what they have been designed for: to connect people and places responsibly, no matter how remote.”
The Indian government is in the market to sell its stake of Air India – and on Monday set a March 17 deadline for initial expressions of interest.
Indian conglomerate Hinduja Group and US-based fund Interups are already reported to be submitting theirs.
It’s not the first attempt at a sale: in 2018 the government failed to divest 76 per cent of the airline, and with it over five billion dollars of debt.
Air India workers protested ….
And potential bidders opted out because of stringent conditions attached – such as retaining all employees.
This time, the government has indicated, it’s open to revising some provisions.
Though bidders must assume liabilities, including debt at just under 3.3 billion dollars.
And substantial ownership and control must remain with an Indian entity.
The sale might face opposition from within prime minister Narendra Modi’s ruling BJP Party – one lawmaker describes the deal as quote ‘anti-national’.
But if successful, the buyer gets over 7,000 landing slots in India and overseas …
Together with the carrier’s low-cost arm and a stake in its cargo and ground-handling operations.
As for staff, Air India currently has around 13,000 permanent and contract personnel on its books …
Railsystems RP GmbH orders two locomotives from Siemens Mobility
Sustainable concept: a combined diesel and electric locomotive
Delivery at the end of 2020
Railsystems RP GmbH has ordered two Vectron Dual Mode locomotives from Siemens Mobility, marking the first order for the new locomotive that can be operated either as a diesel or electric unit. Siemens Mobility first presented the concept at the InnoTrans 2018.
“With the Vectron Dual Mode, Railsystems RP GmbH is getting a locomotive that combines the best of two worlds: On electrified routes, the Vectron Dual Mode is powered by electricity to save fuel and reduce maintenance costs. On rail routes without overhead wires, the Vectron can shift to diesel operation without the operator having to change locomotives,” said Sabrina Soussan, CEO of Siemens Mobility.
The Vectron Dual Mode enables operators to increase value sustainably over their entire lifecycle. The locomotive can also operate through gaps in the electrified sections, eliminating the need to change locomotives. At the same time, conurbations and major cities, where there is often an electrified rail network, are spared emissions. The Vectron Dual Mode is specifically designed for freight service in Germany and is based on proven Vectron components. It operates on a 1,435 mm track gauge and weighs 90 tons. The locomotive is designed for the 15-kV-AC voltage system and is equipped with the PZB train control system. Regardless of whether it operates on electricity or diesel, traction power at the wheel rim is 2,000 kW. The locomotive’s diesel tank has a capacity of 2,600 liters. The Vectron Dual Mode has a top speed of 160 km/h.
Strong Net Rooms Growth Fuels Nearly 11% Increase in Management and Franchise Fees
CHICAGO (October 30, 2019) – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported third-quarter 2019 financial results. Net income attributable to Hyatt was $296 million, or $2.80 per diluted share, in the third quarter of 2019, compared to $237 million, or $2.09 per diluted share, in the third quarter of 2018. Adjusted net income attributable to Hyatt was $39 million, or $0.37 per diluted share, in the third quarter of 2019, compared to $37 million, or $0.33 per diluted share, in the third quarter of 2018. Refer to the table on page 14 of the schedules for a summary of special items impacting Adjusted net income and Adjusted earnings per share in the three months ended September 30, 2019.
Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “The strength of our brands and the consistent approach we have to operating with excellence and efficiency are serving us very well in this period of volatile economic conditions. In particular, our management and franchise fee growth of nearly 11% this quarter is driven by roughly 13% year-over-year net rooms growth. Further, we have successfully increased productivity and operating efficiency for 23 straight quarters which has allowed us to maintain strong hotel operating margins even in the face of flat RevPAR growth this quarter.”
Third quarter of 2019 financial highlights as compared to the third quarter of 2018 are as follows:
Net income increased 25.4% to $296 million.
Adjusted EBITDA decreased 7.3% to $163 million, a decrease of 6.5% in constant currency.
Comparable system-wide RevPAR was flat, including a decrease of 0.1% at comparable owned and leased hotels. Comparable system-wide RevPAR growth was favorably impacted by approximately 50 basis points from the timing of the Jewish holidays, but was offset by a similar reduction resulting from political unrest in Hong Kong.
Comparable U.S. hotel RevPAR decreased 0.6%; full service hotel RevPAR increased 0.2% and select service hotel RevPAR decreased 2.3%.
Net rooms growth was 13.2%, or 7.9% excluding the acquisition of Two Roads Hospitality LLC (“Two Roads”) in the fourth quarter of 2018.
Comparable owned and leased hotels operating margin decreased 20 basis points to 21.0%.
Adjusted EBITDA margin of 26.9% decreased 280 basis points in constant currency.Mr. Hoplamazian continued, “We continue to execute on our capital strategy and shift our earnings profile while maintaining our focus on global growth. We expect to end the year with approximately 57% of our earnings coming from our hotel management and franchise business, an increase of roughly 400 basis points from 2018. Our pipeline remains robust while continuing to deliver solid organic net rooms growth of almost 8% this quarter, net of the acquisition of Two Roads in the fourth quarter of 2018. While theNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
current global operating environment is challenging, we feel confident in our ability to manage through volatility and identify opportunities to strengthen our brands and performance.”
Third quarter of 2019 financial results as compared to the third quarter of 2018 are as follows:
Management, Franchise and Other Fees
Total management, franchise and other fees increased 11.9% (12.5% increase in constant currency) to $148 million. Base management fees increased 17.8% to $64 million, primarily in the Americas management and franchising segment due to the acquisition of Two Roads. Incentive management fees decreased 1.3% to $33 million. Franchise fees increased 11.8% to $37 million. Other fees increased 22.0% to $14 million. Excluding other fees, management and franchise fees increased 10.9% (11.6% increase in constant currency) to $134 million.
Americas Management and Franchising Segment
Americas management and franchising segment Adjusted EBITDA increased 11.2% (11.4% increase in constant currency), driven by higher management, franchise, and other fees from the Two Roads acquisition and recently opened hotels. RevPAR for comparable Americas full service hotels increased 1.5%, occupancy increased 70 basis points, and ADR increased 0.7%. RevPAR growth was driven by strength in certain resort locations outside of the United States and benefited from the timing of the Jewish holidays which had an approximate 110 basis point favorable impact. RevPAR for comparable Americas select service hotels decreased 2.4%, occupancy decreased 40 basis points, and ADR decreased 1.8%. Total Americas management and franchising adjusted revenues increased 29.6% (29.9% increase in constant currency) including revenue from the residential management operations acquired as part of Two Roads.
Transient rooms revenue at comparable U.S. full service hotels increased 1.0%, room nights increased 2.3%, and ADR decreased 1.3%. Group rooms revenue at comparable U.S. full service hotels decreased 0.2%, room nights decreased 2.3%, and ADR increased 2.2%.
Americas net rooms increased 11.5% compared to the third quarter of 2018, or 5.2% excluding Two Roads.
Southeast Asia, Greater China, Australia, South Korea, Japan and Micronesia (ASPAC) Management and Franchising Segment
ASPAC management and franchising segment Adjusted EBITDA increased 0.9% (2.5% increase in constant currency). RevPAR for comparable ASPAC full service hotels decreased 2.0%, reflecting weakness in Hong Kong. Excluding Hong Kong, RevPAR for comparable ASPAC full service hotels would have increased 0.8%. Occupancy decreased 50 basis points and ADR decreased 1.3% for ASPAC full service hotels. Revenue from management, franchise, and other fees increased 4.2% (5.4% increase in constant currency).
ASPAC net rooms increased 17.7% compared to the third quarter of 2018, or 13.7% excluding Two Roads.
Note: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
Europe, Africa, Middle East and Southwest Asia (EAME/SW Asia) Management and Franchising Segment
EAME/SW Asia management and franchising segment Adjusted EBITDA increased 4.8% (7.8% increase in constant currency). RevPAR for comparable EAME/SW Asia full service hotels increased 1.6%, driven by strong growth in certain European markets, including France and the United Kingdom, and Southwest Asia, offset partially by weaker performance in Russia which lapped the FIFA World Cup in 2018.
Occupancy increased 290 basis points and ADR decreased 2.6% for EAME/SWA full service hotels. Revenue from management, franchise, and other fees increased 2.2% (4.3% increase in constant currency).
EAME/SW Asia net rooms increased 15.6% compared to the third quarter of 2018, or 14.4% excluding Two Roads.
Owned and Leased Hotels Segment
Total owned and leased hotels segment Adjusted EBITDA decreased 17.6% (16.9% decrease in constant currency), including a decrease of 12.0% (11.4% decrease in constant currency) in pro rata share of unconsolidated hospitality ventures Adjusted EBITDA. Refer to the table on page 11 of the schedules for a detailed list of portfolio changes and the year-over-year net impact to total owned and leased hotels segment Adjusted EBITDA.
Owned and leased hotels segment revenues decreased 3.9% (3.0% decrease in constant currency), and was negatively impacted by non-comparable hotels. RevPAR for comparable owned and leased hotels decreased 0.1%. Occupancy and ADR were both flat.
Corporate and Other
Corporate and other Adjusted EBITDA decreased 22.4% (22.5% decrease in constant currency), inclusive of $6 million of expenses from the Two Roads acquisition.
Corporate and other adjusted revenues increased 19.1% (consistent in constant currency).
Selling, General, and Administrative Expenses
Selling, general, and administrative expenses increased 1.0%, inclusive of rabbi trust impact and stock- based compensation. Adjusted selling, general, and administrative expenses increased 13.8%, or $10 million, including $8 million of integration costs related to the acquisition of Two Roads. Refer to the table on page 17 of the schedules for a reconciliation of selling, general, and administrative expenses to Adjusted selling, general, and administrative expenses.
OPENINGS AND FUTURE EXPANSION
Twenty hotels (or 4,422 rooms) opened in the third quarter of 2019, contributing to a 13.2% increase in net rooms compared to the third quarter of 2018. Excluding the impact of the Two Roads acquisition, net rooms increased 7.9% compared to the third quarter of 2018.
As of September 30, 2019, the Company had executed management or franchise contracts for approximately 460 hotels, or approximately 92,000 rooms. The Company is expected to open approximately 85 hotels in the 2019 fiscal year.
Note: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
SHARE REPURCHASE/DIVIDEND
During the third quarter of 2019, the Company repurchased a total of 1,776,891 (1,099,507 Class A shares and 677,384 Class B shares) for approximately $133 million. The Company ended the third quarter with 36,811,374 Class A and 66,438,444 Class B shares issued and outstanding. From October 1 through October 25, 2019, the Company repurchased 523,499 shares of Class A common stock for an aggregate purchase price of approximately $37 million. As of October 25, 2019, the Company had approximately $351 million remaining under its share repurchase authorization.
The Company’s board of directors has declared a cash dividend of $0.19 per share for the fourth quarter of 2019. The dividend is payable on December 9, 2019 to Class A and Class B stockholders of record as of November 26, 2019.
CAPITAL STRATEGY UPDATE
In a Form 8-K filed on September 16, 2019, the Company announced the sale of the 1,260-room Hyatt Regency Atlanta for approximately $355 million to an unrelated third party and the entry into a long-term management agreement for the property upon sale.
The Company is in the process of pursuing the sale of one of its wholly-owned hotels and will provide further details as appropriate.
BALANCE SHEET / OTHER ITEMS As of September 30, 2019, the Company reported the following:
Total debt of $1,623 million.
Pro rata share of unconsolidated hospitality venture debt of approximately $564 million, substantially all of which is non-recourse to Hyatt and a portion of which Hyatt guarantees pursuant to separate agreements.
Cash and cash equivalents, including investments in highly-rated money market funds and similar investments, of $660 million, restricted cash of $140 million, and short-term investments of $63 million.
Undrawn borrowing availability of $1.5 billion under Hyatt’s revolving credit facility.2019 OUTLOOK The Company is revising the following expectations for the 2019 fiscal year:
Comparable system-wide RevPAR is expected to increase approximately 0.5%, as compared to fiscal year 2018.
Net income is expected to be approximately $431 million to $470 million. Please refer to the table on page 13 of the schedules for revised ranges impacting net income.
Other income (loss), net is expected to be approximately $98 million to $103 million, reflecting increased interest income and unrealized gains on marketable securities. The estimated $40 million negative impact related to performance guarantee expense for the four managed hotels in France is unchanged.
Adjusted EBITDA is expected to be approximately $730 million to $745 million, primarily reflecting a one point reduction in expected comparable system-wide RevPAR and the sale ofNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
Hyatt Regency Atlanta (as previously reported in a Form 8-K filed on September 16, 2019). Refer to the table on page 13 of the schedules for a reconciliation of Net Income to Adjusted EBITDA.
Depreciation and amortization expense is expected to be approximately $329 million to $334 million.
Interest expense is expected to be approximately $77 million.
Adjusted selling, general, and administrative expenses are expected to be approximately $335 million. This is inclusive of approximately $25 million of expenses related to non-recurring integration costs for Two Roads. Adjusted selling, general, and administrative expenses exclude approximately $33 million of stock-based compensation expense and any potential impact related to benefit programs funded through rabbi trusts.The Company is reaffirming the following information for the 2019 fiscal year:
The Company expects to grow units, on a net rooms basis, by approximately 7.25% to 7.75%, reflecting approximately 85 new hotel openings.
Capital expenditures are expected to be approximately $375 million.
As previously reported in an 8-K filed on September 16, 2019, the Company expects to return approximately $500 million to shareholders through a combination of cash dividends on its common stock and share repurchases.
The effective tax rate is expected to be approximately 25% to 27%.
No additional disposition or acquisition activity beyond what has been completed as of the date of this release has been included in the outlook. The Company’s outlook is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that Hyatt will achieve these results.
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
Pilatus PC-24 Jet
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.
Pilatus PC-12
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.
Pilatus PC-21
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.”
