Tag: After (Page 1 of 2)

Marathon Airlines expands Embraer pool program agreement for seven E-Jets

October 18, 2023 / WIL BALDWIN

Amsterdam, Netherlands, October 18, 2023 – Embraer SA (NYSE: ERJ) announced that it has signed a contract amendment with Marathon Airlines for the Pool Program to include additional two E195s. Now, seven E-Jets will receive support for a wide range of repairable components – three E175, one E190, and three E195. The Greek airline started the Pool Program contract last year, with its first E175, and has seen steady fleet growth since. Currently, Embraer’s Pool Program supports more than 60 airlines worldwide.

Embraer provides support to airlines worldwide, with its technical expertise and its vast component services network. The results are significant savings in repair and inventory carrying costs and a reduction in warehousing space and resources required for repair management, while ultimately providing guaranteed performance levels. Embraer Services & Support’s portfolio offers a wide range of competitive solutions designed for each customer to support the growing fleet of Embraer aircraft worldwide and deliver the best after-sales experience in the global aerospace industry.

About Marathon Airlines

Marathon Airlines is an EASA-approved airline based in Greece providing customer-centric, safe, and reliable Wet Lease (ACMI) services to well-established EU carriers and Charter flights. We are also specialized in a range of solutions including private jet charter and aircraft management. The current fleet also includes 2 Legacy 600 aircraft.

For more information, visit www.flymarathon.aero.

Royal Jordanian Airlines sign pool program agreement with Embraer for E2 fleet support

October 18, 2023 / WIL BALDWIN

Amsterdam, Netherlands, October 17, 2023 – Embraer SA (NYSE: ERJ) has signed a multi-year contract with Royal Jordanian Airlines to support a total fleet of eight E190-E2 and E-195-E2 jets with the Pool Program. The agreement will provide support for a wide range of repairable components for the jets that will be added to Royal Jordanian’s fleet. Currently, Embraer’s Pool Program supports more than 60 airlines worldwide.

Garmin signs purchase agreement to acquire JL Audio Solutions

August 8, 2023 / WIL BALDWIN

Olathe, Kansas, August 7, 2023, PR Newswire – Garmin Ltd. (NYSE: GRMN), today announced it has entered into a definitive agreement to acquire JL Audio, a privately-held U.S. company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home and RV customers.

With over four decades of experience, JL Audio offers premium audio products and accessories, including speakers, amplifiers, subwoofers and other audio components.

JL Audio is headquartered in Miramar, Fla., and employs more than 600 associates. The completion of this acquisition is expected to occur by the end of 2023 and is subject to customary regulatory approvals and closing conditions. All existing JL Audio products will continue to be supported post-closing, and customers can expect to continue receiving the same great customer service. Financial terms of the acquisition will not be disclosed.

Mitsubishi Heavy Industries Achieves Significant First Quarter Increase in Orders and Profit

August 6, 2023 / WIL BALDWIN

Tokyo, Japan – Mitsubishi Heavy Industries (OTC: MHVYF) announced that order intake rose 75.1% year over year to 1.6 billion Yen in the quarter ended June 30, 2023. Revenue rose 12.9%, resulting in profit from business activities (business profit) of 51.9 billion Yen, a 248.1% increase from the previous fiscal year, which represents a profit margin of 5.3%. Profit attributable to owners of parent (net income) was 53.1 billion Yen, an increase of 177.1% year-over-year, with a profit margin of 5.4%. EBITDA was 85.1 billion Yen, an 80.3% increase from Q1 FY2022, with an EBITDA margin of 8.7%, up 3.3 percentage points year-over-year.

Large orders growth in Energy Systems was driven by Gas Turbine Combined Cycle (GTCC), which continues to see strong demand for both new builds and after-sales services. Business profit in the segment increased by 27.0 billion Yen due to a reduction in one-time charges in the Thermal Power businesses as well as revenue growth and improved project margins.

In Plants & Infrastructure Systems, revenue increased by 33.8 billion Yen due to contributions from Metals Machinery and Engineering, while business profit improved by 5.0 billion resulting from increased revenue in Metals Machinery as well as positive developments in Engineering and Machinery Systems’ project mix.

In Logistics, Thermal & Drive Systems, successful passthrough of cost inflation to sales prices mainly in Logistics Systems and Heating, Ventilation & Air Conditioning (HVAC) led to 14.3% increases in order intake and revenue, respectively. Cost passthroughs in these businesses also helped to raise the segment’s business profit by 15.3 billion Yen.

Most notable this quarter is the striking growth in Aircraft, Defense & Space order intake, specifically in Defense & Space, which saw orders rise by 584.1 billion Yen. This is due to large orders for missile defense systems from Japan’s Ministry of Defense as the country seeks to improve its capabilities in this area.

First Qantas A380 to Land Back in Australia Today

November 9, 2021 / WIL BALDWIN

A familiar and hard-to-miss sight will return to Australian skies today with one of the Qantas (OTC: QABSY) iconic A380 aircraft set off to land back in Sydney, 593 days after it departed Australian shores.

Hudson Fysh, named after one of Qantas’ founders, is expected to touch down at Sydney Airport around 3.00pm more than 19 hours after it departed Dresden, Germany. The aircraft recently underwent scheduled maintenance for a new landing gear, after spending the best part of two years in storage during the COVID-19 pandemic.

Its early return comes as the airline gears up for the first two of the superjumbos to return to service in April 2022, following strong demand for international travel, particularly on key routes to Los Angeles and London.

Qantas has taken close to half a million domestic bookings in the past two weeks, compared with around 20,000 in a two-week period in August.

Jetstar’s recent international sale saw 75,000 seats sold in 72 hours.

Demand for seats on Qantas’ London to Sydney service has been extremely strong, with Aussies reuniting with family and friends in time for Christmas and more flights added as a result.

Originally expected to remain in long term storage in the Californian desert until the end of 2023, Qantas has since announced that five A380s with upgraded cabins would return ahead of schedule with two to operate flights to Los Angeles from April 2022 and three to operate flights to London from November 2022.

The airline is now working to further accelerate the return of the A380s, with superjumbo flights to London brought forward to July 2022. In addition, a sixth aircraft will arrive before the end of calendar year 2022, with the remaining four A380s expected to return to service by early 2024.

Hudson Fysh will undergo additional maintenance checks in Australia before taking to the skies again in coming weeks as part of crew training.

Mesa Air Group Announces Date for Fourth Quarter, FY 2020 Earnings Conference Call

November 12, 2020 / WIL BALDWIN

Mesa Air Group, Inc. (NASDAQ: MESA) will release its fourth quarter earnings for fiscal year 2020 after the market closes on Wednesday, December 9. The company will also host a conference call to discuss the results on December 9 at 4:30 pm Eastern Time.

The call can be accessed by dialing 888-469-2054 and entering the passcode: PHOENIX (7463649).

There will also be a listen-only webcast on Mesa’s website (http://investor.mesa-air.com/events-and-presentations/events). A recorded version will be available on Mesa’s website approximately two hours after the call (http://investor.mesa-air.com).

Air New Zealand Cancels Outbound Service to Rarotonga

August 16, 2020 / WIL BALDWIN

After consultation with the New Zealand Ministry of Health, Air New Zealand has made the decision not to carry customers on flight NZ946 from Auckland to Rarotonga on Saturday 15 August.

The service will still operate outbound to Rarotonga carrying cargo, and the return service will carry customers into Auckland.

Air New Zealand’s Chief Executive Officer Greg Foran says the decision was made not to carry passengers out of Auckland due to the city currently being at Alert Level 3.

“The Cook Islands has so far had no cases of COVID-19 and we want to make sure we are doing the right thing for both countries in terms of safety and wellbeing. That’s why we have taken the precautionary decision not to carry passengers out of Auckland on tomorrow’s service. We are contacting affected customers directly to let them know their options.”

Azul Airlines to Delay 59 Embraer Airplanes Until After 2024

May 14, 2020 / WIL BALDWIN

SAO PAULO, May 14 (Reuters) – Brazilian airline Azul SA said on Wednesday it had agreed with planemaker Embraer SA to delay the delivery of 59 E2 jets, with a list price of 24.5 billion reais ($4.16 billion), to 2024 or later.

The planes had been initially set for delivery from 2020 to 2023, according to an Azul securities filing.

Azul said the agreement was a step to shore up its business amid the COVID-19 pandemic, which also led it to reduce its April capacity by 90% in comparison to the same month in 2019.

($1 = 5.8852 reais)

(Reporting by Alberto Alergiri; Editing by Sandra Maler)

Norwegian Air Shares Plummet 60% After Proposed Rescue Plan

April 14, 2020 / WIL BALDWIN

OSLO (Reuters) – The shares of Norwegian Air plunged by more than 60% on Tuesday as they resumed trade after the airline proposed a financial rescue package on April 8 that would significantly dilute existing equity.

If approved by creditors and shareholders, the plan would convert $4.3 billion of debt into equity, and also raise some new equity, wiping out much of the remaining value of the company’s current shares.

The budget carrier has grounded most of its fleet due to the impact of the COVID-19 outbreak on travel and on March 16 announced the temporary layoff of 7,300 staff, about 90% of its workforce.

Norwegian’s shares plunged 62.5% in early trade to an all-time low of 3.10 crowns, valuing the company at just 500 million Norwegian crowns ($48.8 million).

Norwegian was facing financial problems even before the coronavirus outbreak. Before Tuesday’s fall, its shares were down 78% this year, underperforming other major European airlines, which were down between 30% and 60%.

The airline must now convince its creditors to agree to the rescue plan before it is put to a shareholders’ vote on May 4.

The Oslo stock exchange said on Tuesday that trading in Norwegian’s shares would be subject to special observation until there was further clarification of the airline’s situation.

Special observation is used under circumstances that may make the valuation of a security particularly uncertain, according to the market operator’s guidelines.

($1 = 10.2490 Norwegian crowns)

(Reporting by Terje Solsvik, editing by Gwladys Fouche/Victoria Klesty/Susan Fenton)

Passengers board a Norwegian Air plane in Kirkenes, Norway

Qantas Shares Near $2 After Morning Drama

March 19, 2020 / WIL BALDWIN

Qantas Group shares came perilously close to dropping below $2 on the day the airline announced it was suspending two-thirds of its staff.

Shares plummeted from $2.53 on Wednesday to a low of $2.03 before making a partial recovery to close out the day on $2.14. In December, stocks in Qantas were selling for $7.46.

Virgin Australia had a difficult day itself, with shares closing down 12 per cent to just $0.059.

Earlier in the day, Qantas Group dramatically said it was cancelling all international flights from late March and “standing down” 20,000 employees.

Click the link below to read the full story!

https://australianaviation.com.au/2020/03/qantas-shares-near-2-after-morning-drama/

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