Tag: Eurofighter

Airbus Reports Third Quarter 2021 Results

October 28, 2021 / WIL BALDWIN

Amsterdam, 28 October 2021 – Airbus SE (Paris stock exchange symbol: AIR) reported consolidated financial results for the nine months ended 30 September 2021.

“The nine-month results reflect a strong performance across the company as well as our efforts on cost containment and competitiveness. As the global recovery continues, we are closely monitoring potential risks to our industry. We are focused on securing the A320 Family ramp up and striving to ensure the right industrial and supply chain capabilities are in place,” said Airbus Chief Executive Officer Guillaume Faury. “Based on our nine-month performance, we have updated our 2021 earnings and cash guidance. We are strengthening the balance sheet to secure investment for our long-term ambitions.

Gross commercial aircraft orders totalled 270 (9m 2020: 370 aircraft) with net orders of 133 aircraft after cancellations (9m 2020: 300 aircraft). The order backlog was 6,894 commercial aircraft on 30 September 2021. Airbus Helicopters booked 185 net orders (9m 2020: 143 units), including 10 helicopters of the Super Puma Family. Airbus Defence and Space’s order intake by value was € 10.1 billion (9m 2020: € 8.2 billion) with third quarter orders including 56 C295 aircraft for India, two A400Ms for Kazakhstan and support and spares contract renewals for the German and Spanish Eurofighter fleets.

Consolidated revenues increased 17 percent to € 35.2 billion (9m 2020: € 30.2 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to 9m 2020. A total of 424 commercial aircraft were delivered (9m 2020: 341 aircraft), comprising 34 A220s, 341 A320 Family, 11 A330s(1), 36 A350s and 2 A380s. Revenues generated by Airbus’ commercial aircraft activities increased 21 percent, largely reflecting the delivery performance compared to 2020 which was strongly impacted by COVID-19. Airbus Helicopters delivered 194 units (9m 2020: 169 units) with revenues up 14 percent reflecting growth in services as well as the higher deliveries, notably more helicopters from the Super Puma family. Revenues at Airbus Defence and Space were broadly stable year-on-year with four A400M military airlifters delivered in 9m 2021.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – was € 3,369 million (9m 2020: € -125 million).

The EBIT Adjusted related to Airbus’ commercial aircraft activities totalled € 2,739 million (9m 2020: € -641 million), mainly driven by the operational performance linked to deliveries and efforts on cost containment and competitiveness.

The A220 production rate, which is currently at 5 aircraft a month, is expected to increase to around rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by the middle of the decade. On the A320 Family programme, the Company is working to secure the ramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023. The recent commercial successes of the A330 programme enable a monthly rate increase from around 2 to almost 3 aircraft at the end of 2022. The A350 programme is expected to increase from around 5 to around 6 aircraft a month in early 2023.

Airbus Helicopters’ EBIT Adjusted increased to € 314 million (9m 2020: € 238 million), driven by services, programme execution and lower spending on Research & Development (R&D).

EBIT Adjusted at Airbus Defence and Space increased to € 284 million (9m 2020: € 266 million), mainly reflecting the Division’s efforts on cost containment and competitiveness.

Consolidated self-financed R&D expenses totalled € 1,919 million (9m 2020: € 2,032 million).

Consolidated EBIT (reported) amounted to € 3,437 million (9m 2020: € -2,185 million), including net Adjustments of € +68 million.

These Adjustments comprised:

€ +190 million related to the A380 programme, of which € +45 million were booked in Q3;
€ -165 million related to the dollar pre-delivery payment mismatch and balance sheet revaluation, of which € +5 million were in Q3;
€ +43 million of other Adjustments, including compliance costs, of which € -6 million were in Q3.

The financial result was € -172 million (9m 2020: € -712 million). It mainly reflects the net interest result of € -233 million partly offset by € +63 million related to the revaluation of the Dassault Aviation equity stake. Consolidated net income(2) was € 2,635 million (9m 2020 net loss: € -2,686 million) with consolidated reported earnings per share of € 3.36 (9m 2020 loss per share: € -3.43).

Consolidated free cash flow before M&A and customer financing was € 2,260 million (9m 2020: € -11,798 million), reflecting efforts on cash containment and also included a positive phasing impact from working capital. Consolidated free cash flow was € 2,308 million (9m 2020: € -12,276 million).

On 30 September 2021, the gross cash position stood at € 21.7 billion (year-end 2020: € 21.4 billion) with a consolidated net cash position of € 6.7 billion (year-end 2020: € 4.3 billion). The Company’s liquidity position remains strong, standing at € 27.7 billion at the end of September 2021. Given the increase in the net cash position and the robust liquidity, a decision was taken not to renew the undrawn € 6.2 billion Supplemental Liquidity Line which matured in September. In the meantime, the maturity of the € 6 billion Revolving Syndicated Credit Facility has been extended by a year.

Outlook

As the basis for its 2021 guidance, the Company assumes no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services.

The Company’s 2021 guidance is before M&A.

On that basis, the Company has updated its 2021 guidance and now targets to achieve in 2021 around:

600 commercial aircraft deliveries;
EBIT Adjusted of € 4.5 billion;
Free Cash Flow before M&A and Customer Financing of € 2.5 billion.

Airbus A400M Conducts Major Helicopter Refueling Certification Program

April 19, 2021 / WIL BALDWIN

Getafe 19 April 2021 – The Airbus A400M new generation airlifter has successfully conducted a major helicopter air-to-air refueling certification campaign, completing the majority of its development and certification objectives. Airbus Defence and Space aims to achieve full helicopter air-to-air refuelling certification later this year with the conclusion of all mandatory night operation trials.

The flight tests, performed in coordination with the French Armament General Directorate (DGA), involved operations with two French Air Force H225M helicopters.

The campaign took place in day and night conditions over the west coast of France at between 1,000 ft and 10,000 ft and flight speeds as low as 105 knots. During those flights, a total of 81 wet contacts and transfers of 6.5 tonnes of fuel were achieved, which included simultaneous refuelling of two helicopters for the first time. The tests confirmed the positive results of the dry and wet contact operations conducted in 2019 and 2020.

Helicopter air-to-air refuelling is a unique military capability and key for Special Forces operations, involving aircraft with different flight profiles and sharing a very limited common flight envelope, requiring close formation flying patterns at low altitudes and night time conditions.

With this capability the A400M becomes one of the few tanker aircraft in the world capable of such operations. The multi-purpose H225M is one of the few helicopters in the world capable of in-flight refuelling, extending the standard 700 NM range by up to 10 hours flight time.

A400M as tanker

The A400M is certified as standard to be quickly configured as a tanker. Carrying up to 50.8 tonnes of fuel in its wings and centre wing box, without compromising any cargo hold area, two additional cargo hold tanks can also be installed, providing an additional 5.7 tonnes of fuel each. The separate cargo-hold tanks allows for the use of different types of fuel, enabling the A400M to cater for the needs of different types of receiver aircraft.

As a tanker, the A400M has already demonstrated its ability to refuel fighter receivers such as Eurofighter, Rafale, Tornado or F/A-18 at their preferred speeds and altitudes, and is also able to refuel other large aircraft such as another A400M for buddy refuelling, C295 or C-130.

Airbus and Germany Submit Eurofighter Offer to Switzerland

November 23, 2020 / WIL BALDWIN

On the heels of the U.S. government and Lockheed Martin’s (NYSE: LMT) formal submission of a F-35 proposal to the Swiss government in support of Switzerland’s New Fighter Aircraft (NFA) competition, Airbus and Germany have now followed suit.

You can view the details of the Airbus and Germany submission below!

EN-Airbus-Press-Release

Airbus Signs Contract for 38 Eurofighters with Germany

November 15, 2020 / WIL BALDWIN

Airbus has signed a contract to deliver 38 new Eurofighter aircraft to the German Air Force. This makes Germany the largest ordering nation in Europe’s biggest defence programme. The order, also known by its project name Quadriga, covers the delivery of 30 single-seater and 8 twin-seater Eurofighters. Three of the aircraft will be equipped with additional test installations as Instrumented Test Aircraft for the further development of the Eurofighter programme.

Dirk Hoke, CEO Airbus Defence and Space, said: “The new Tranche 4 Eurofighter is currently the most modern European-built combat aircraft with a service life well beyond 2060. Its technical capabilities will allow full integration into the European Future Combat Air System FCAS”.

The renewed order from Germany secures production until 2030 and comes at a strategically important time for the programme. In addition to an expected Eurofighter order from Spain to replace its legacy F-18s, procurement decisions in Switzerland and Finland are imminent in 2021.

The variant offered in Switzerland corresponds to the configuration of the German Quadriga order. The equipment includes the world’s latest electronic radar, future-proof hardware and software and unlimited multi-role capability for engaging air and ground targets.

Eurofighter is Europe’s largest defence programme, in which the United Kingdom, Spain and Italy are involved alongside Germany. In addition to technological capabilities, it secures more than 100,000 jobs in Europe.

Arms Firms Fret Delays in Franco-German Fighter Project

October 7, 2019 / WIL BALDWIN

PARIS, Oct 7 (Reuters) – France’s Dassault Aviation and Europe’s Airbus have stepped up pressure on France and Germany to agree on the next stage of a planned fighter project, warning Europe’s arms industry and long-term security could suffer from delays.

The two companies are the leading industrial partners in a project to build a futuristic swarm of manned and unmanned warplanes, announced by the leaders of France and Germany two years ago and expanded earlier this year to include Spain.

Dassault and Airbus won a 65-million-euro contract in January to develop the concept for the Future Combat Air System (FCAS) but await a new contract to build demonstrators for interlinked fighters, drones and an “air combat cloud” by 2026.

Dassault Aviation Chief Executive Eric Trappier told a conference of policymakers last month that the demonstrator contract should have been launched in September but this was now slipping towards end-year. He called it “indispensable” to avoid any further delays in order to maintain the 2026 deadline.

No reason has been given for the delays.

On Monday evening, Dassault and Airbus amplified those warnings with a joint statement.

“If Europe does not move forward — and move forward quickly — on this programme, it will be impossible to maintain the development and production capabilities needed for a sovereign defence industry,” the companies said.

The warplane system is expected to be operational from 2040, with a view to replacing Dassault’s Rafale and the four-nation Eurofighter, in which Airbus represents both Germany and Spain.

The new project faces competition from Britain and its plans for a new combat jet dubbed “Tempest”.

The fighter developments have split the current Eurofighter consortium and led to a shake-up of industrial alliances as Italy joins Eurofighter partner Britain on Tempest, turning its back on Germany and Spain, while Sweden has opened the door to abandoning its independent stance by co-operating on Tempest.

The FCAS is also overshadowed by differences between France and Germany over export policy after Germany imposed a ban on arms exports to Saudi Arabia over the death of killing of journalist Jamal Khashoggi a year ago by Saudi operatives.

The ban, recently extended to March, has raised questions over a long-delayed Saudi border systems contract run by Airbus.

Airbus Defence and Space Chief Executive Dirk Hoke called in a magazine interview last week for the export ban to be relaxed. German Chancellor Angela Merkel’s government has said there is no reason for the moratorium to be lifted.

France and Germany are expected to discuss the issue at ministerial meetings this week.

AIRBUS SETBACK IN SPAIN

Airbus meanwhile faces a battle to shore up its position as a top defence contractor in Spain after losing its place as the representative of Spain’s interests on the upcoming fighter project to local defence electronics firm Indra Sistemas.

Spain last month named Indra as contractor for the Spanish share of the Franco-German-led FCAS project, displacing Airbus from the Spanish coordinator role it had held on Eurofighter.

Airbus officials have pledged to try to overturn the move but a Spanish defence source told Reuters there was no change in the decision.

Indra declined to comment.

Publicly, Airbus has said it was surprised by the decision but has pledged to continue to defend Spain’s best interests.

Dassault will meanwhile mark a long-awaited milestone on Tuesday when it delivers the first of 36 Rafales to India, the culmination of a fighter procurement process that lasted almost 20 years and involved the cancellation of a much larger deal.

La Tribune reported on Monday that France and India were discussing a possible repeat order for 36 more Rafales.

(Additional reporting by Emma Pinedo Gonzalez in Madrid, Tassilo Hummel in Berlin, Editing by Deepa Babington)

Airbus, Dassault Finalizing Bid On New Fighter Jet

November 16, 2018 / WIL BALDWIN

BERLIN (Reuters) – Airbus (AIR.PA) and France’s Dassault Aviation (AVMD.PA) will shortly submit an unsolicited proposal for initial conceptual work on a next-generation fighter jet to German and French officials, according to sources familiar with the matter.

The two companies agreed in principle in April to work together on an ambitious Franco-German program to design a new warplane, but are anxious to get some early funding so they can start work on new technologies required for the multi-billion project – with a goal of fielding a new aircraft around 2040.

Germany and France signed a memorandum of understanding about the project in April, but progress has been halting amid disputes between the governments about future exports, and among industry about how to divvy up work on a system to integrate the new jet with drones and other weapons.

One source familiar with the matter said the two companies could submit their proposal by the end of the year or early next year, paving the way for the first contract awards next year.

One French military official told the International Fighter conference in Berlin this week that the two governments hoped to conclude an initial contract in January.

Peter Harster, senior executive with MTU Aero Engines (MTXGn.DE), said the study contract was needed, along with a medium-term budget plan, to help set a realistic timetable and key requirements to ensure the new jet would be ready by 2040.

Harster also called for a separate contract for work on an engine for the new jet to enable optimal flexibility and give the customers direct control over the propulsion system.

Bruno Fichefeux, head of future combat air systems at Airbus, told the conference he expected conceptual work on the program to begin soon, “bilaterally or with Spain.”

A Spanish official told the conference his country was in discussions with both the Dassault-Airbus team, and a separate project being led by Britain’s BAE Systems (BAES.L) to secure a role on one of the projects. A French military official said the two projects could also be merged at a future date.

Douglas Barrie, senior fellow at the International Institute for Strategic Studies, said government and industry ties would likely shift again, as in the 1970s and 1980s during work that ultimately led to the Eurofighter Typhoon and Dassault’s Rafale.

“We’re at the start of that process again now. And I don’t think it will take a decade to shake out, but it will take some time,” he said. “I think shifts are inevitable.”

Senior executives from Airbus and other companies discussed the next generation fighter with German Defence Minister Ursula von der Leyen at a meeting hosted last week by the German Aerospace Industries Association (BDLI), the sources said.

BDLI declined to comment on the meeting. No comment was immediately available from the defense ministry.

(Reporting by Andrea Shalal; Editing by Mark Potter)

Image from http://www.dassault-aviation.com

Lockheed Martin To Build Wings For F-16 Jet In India

September 4, 2018 / WIL BALDWIN

By Neha Dasgupta

NEW DELHI (Reuters) – Lockheed Martin will build wings for its F-16 combat plane in India with its local partner, Tata Advanced Systems Limited, an executive at the U.S. company said on Tuesday.

Lockheed is bidding for a contract – estimated at more than $15 billion – to supply the Indian air force with 114 combat planes, which must be all manufactured locally under Prime Minister Narendra Modi’s flagship Make in India programme.

However, Vivek Lall, vice president of strategy and business development at Lockheed, said the proposed Indian production of the F-16 wings would not be contingent upon the company winning the order for the planes.

“Producing F-16 wings in India will strengthen Lockheed Martin’s strategic partnership with Tata and support Make in India,” the company said in a statement.

Modi has been pushing for local manufacturing that will provide jobs and also end the military’s dependence on imports.

Lockheed’s announcement came just days ahead of top level talks between the United States and India aimed at expanding defence ties.

U.S. Secretary of State Mike Pompeo and Defense Secretary Jim Mattis will meet with Indian Foreign Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman.

Boeing has pitched its F/A-18 Super Hornet for the Indian contract as well as Sweden’s Saab with its Gripen fighter. France’s Dassault Systemes SE’s Rafale, the Eurofighter Typhoon and Russian aircraft are also in the fray.

Lall said Lockheed had offered to make India its sole F-16 production facility that would supply the Indian military but also other countries. “If India buys the F-16 then it becomes the centre of manufacturing for the global market,” he said.

Lall said the company planned to begin production of the F-16 wings in the southern Indian city of Hyderabad from 2020. He said these were being produced at a facility in Israel and would not impact any jobs in the United States.

The Israeli centre will continue to be involved in other production, he said. “All F-16 wings globally are to be built in the Hyderabad facility,” he said.

(Reporting by Neha Dasgupta; Writing by Sanjeev Miglani; Editing by Susan Fenton and Jane Merriman)