Tag: issue (Page 1 of 2)

Korean Air now using RTX to improve predictive maintenance

November 8, 2023 / WIL BALDWIN

Collins Aerospace Ascentia^® tool to be installed on Korean Air 787 Fleet

Charlotte, North Carolina, November 8, 2023, PRNewswire – Collins Aerospace, an RTX business (NYSE: RTX), announced today that its Ascentia^® Prognostic and Health Management (PHM) solution has been selected by Korean Air Lines Co. (Seoul: 003490) for use on its growing Boeing (NYSE: BA) 787 fleet.

The cloud-based solution uses advanced data analytics and machine learning algorithms to help airlines improve maintenance operations and increase aircraft reliability. Analyzing flight data and maintenance records in real-time allows Ascentia to help predict potential maintenance issues and provide recommendations for corrective actions, improving aircraft availability and reducing unscheduled downtime.

Collins Aerospace’s Ascentia solution is currently in use by several major airlines around the world. Equipping KAL’s Boeing 787 fleet with Ascentia represents a significant milestone as Collins Aerospace expands its presence in the Asia-Pacific region.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

SkyWest Enters Into Secured Loan Facility Under CARES Act

September 29, 2020 / WIL BALDWIN

St. George, Utah, Sept. 29, 2020 /PRNewswire/ — SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today announced that it and its wholly-owned subsidiary SkyWest Airlines, Inc. have entered into a five-year Loan and Guarantee Agreement with the U.S. Treasury Department which provides SkyWest Airlines with a secured term loan facility to borrow up to $573 million under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). On September 29, 2020, upon entry into the Loan Agreement, SkyWest Airlines borrowed $60 million under the facility and has until March 26, 2021 to determine if it will borrow additional amounts in up to two subsequent borrowings.

The interest rate under the secured term loan facility is LIBOR plus 3.0% with no amortization. In consideration for the loan, SkyWest is obligated to issue warrants to the U.S. Treasury Department to purchase shares of common stock based on, and in connection with, amounts drawn under the secured term loan facility. In connection with the initial $60 million draw under the facility, SkyWest issued warrants to purchase 211,416 shares of common stock at an exercise price of $28.38 per share.

The Loan and Guarantee Agreement also includes certain restrictions, including restrictions on the payment of dividends and the repurchase of SkyWest shares. The Secured Loan is collateralized by aircraft engines and aircraft parts.

U.S. to Revise Chinese Passenger Airline Ban After Beijing Move

June 4, 2020 / WIL BALDWIN

A China Eastern Airlines aircraft is seen at Hongqiao International Airport in Shanghai

WASHINGTON (Reuters) – The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.

On Thursday, China said it would ease coronavirus restrictions to allow in more foreign carriers, shortly after Washington said it planned to bar Chinese passenger airlines from flying to the United States by June 16 due to Beijing’s curbs on U.S. carriers.

The change should allow U.S. carriers to resume once-a-week flights into a city of their choice starting on June 8, but that would be still significantly fewer than what the U.S. government says its aviation agreement with China allows.

The Transportation Department did not immediately comment.

The department said on Wednesday Chinese carriers could operate “the same number of scheduled passenger flights as the Chinese government allows ours.” It added the order was to “restore a competitive balance and fair and equal opportunity among U.S. and Chinese air carriers.”

The U.S. order would halt the four weekly U.S. roundtrip flights by Air China <0753.HK>, China Eastern Airlines Corp, China Southern Airlines Co <1055.HK> and Xiamen Airlines Co.

U.S. and airline officials have privately raised concerns about the revised Chinese rules and it is unclear if carriers would agree to fly just once a week to China when they have sought approval for two or three daily flights.

Delta Air Lines <DAL.N> and United Airlines <UAL> asked to resume flights to China this month. Both said they were reviewing the order from the Civil Aviation Administration of China.

American Airlines <AAL> is sticking with its previous plan to resume service to China at the end of October, spokesman Ross Feinstein said.

The CAAC said all airlines can increase the number of international flights involving China to two per week if none of their passengers test positive for COVID-19, the disease caused by the novel coronavirus, for three consecutive weeks.

If five or more passengers on one flight test positive upon arrival, the CAAC will bar the airline for a week. Airlines would be suspended for four weeks if 10 passengers or more test positive.

(Reporting by David Shepardson in Washington; additional reporting by Tracy Rucinski in Chicago; Editing by Chris Reese, Richard Chang and Bernadette Baum)

Korean Air to Issue $817 Million in New Shares as Virus Strains Industry

May 14, 2020 / WIL BALDWIN

SEOUL (Reuters) – South Korea’s largest airline, Korean Air, plans to sell around 1 trillion won ($816.55 million) in new shares in its biggest rights issue in 20 years to raise funds amid mounting strains in the industry due to the pandemic.

Korean Air is the latest carrier to raise funds as travel restrictions imposed by governments around the world have led to airlines grounding their fleets worldwide.

Korean Air separately plans to receive 1.2 trillion won in support from South Korean state-owned banks.

About 79 million newly issued shares, to be listed on July 29, will be first bought by the carrier’s shareholders, including holding company Hanjin Kal which has a 30% stake in the carrier, followed by general public, the company said in a statement.

“Korean Air will continue to carry out self-rescue measures to overcome the dismal business environment due to COVID-19,” the company said.

Korean Air had 70% or more of its employees working in South Korea take a six-month leave of absence in April. Woo Kee-hong, the airline’s president, warned in March that the coronavirus outbreak could threaten its survival if the situation becomes prolonged.

Korean Air also picked last month a preferred bidder to buy its real estate and non-core assets, which some analysts value at about 400-500 billion won.

Korean Air had a debt-to-equity ratio of about 870% as of end-2019. It is expected to announce January-March quarter earnings later this week.

A spokeswoman for Korean Air said it was operating just 10% of its previously planned international schedule, and 60% of its domestic schedule.

The airline said it expects its June international schedule to rise to 20% of its previous plan, as it announced the addition of more international passenger flights to prepare for increased travel demand once COVID-19 restrictions are relaxed.

United Airlines Holdings Inc said earlier this month it plans to raise $2.25 billion through a bond offering, after announcing a public offering to raise more than $1 billion in April.

In March, Singapore Airlines said it would issue S$5.3 billion ($3.70 billion) in new equity and up to S$9.7 billion($6.78 billion) via mandatory convertible bonds in a rights issue backed by state investor Temasek Holdings.

($1 = 1,224.6700 won)

(Reporting by Joyce Lee; Editing by Simon Cameron-Moore and Louise Heavens)

Korean Air’s passenger planes are parked following outbreak of COVID-19, at Incheon International Airport

Diverted AirBaltic Flight Latest Case of A220 Engine Problems

February 12, 2020 / WIL BALDWIN

(Reuters) – An AirBaltic A220 flight diverted to France on Wednesday because of an engine issue is the fourth reported case involving the Pratt & Whitney engine powering the Airbus jet, the U.S. National Transportation Safety Board (NTSB) said.

The A220-300 flight, traveling from Riga, Latvia, to Malaga, Spain, was diverted to Bordeaux because of a technical failure in the left engine, France’s Bureau d’Enquêtes et ‘Analyses (BEA) said on Twitter. The flight landed safely.

Airbus SE and United Technologies Corp, maker of the Pratt PW1500G engines, confirmed in statements that they were aware of the flight and working “to provide assistance” as required.

The incident follows three emergency landings involving the GTF engine on Airbus’s smallest jet, the A220.

“NTSB has accepted delegation for 3 previous incidents so NTSB will also look at the most recent incident,” a spokesman for the U.S. government investigative agency said by email.

“NTSB is in the process of gathering initial data. It is still in the early stage of any investigation cannot make any conclusions at this time.”

Pratt & Whitney has said that a software update for the GTF engine on the A220 is expected in the spring, pending regulatory approval.

(Reporting by Allison Lampert Editing by Leslie Adler)

Boeing Addresses New 737 MAX Software Issue

January 17, 2020 / WIL BALDWIN

WASHINGTON (Reuters) – Boeing Co <BA> said on Friday it is addressing a new software issue discovered in Iowa last weekend during a technical review of the proposed update to the grounded Boeing 737 MAX, a development that could further delay the plane’s return to service.

“We are making necessary updates,” Boeing said in a statement. Officials at the planemaker said the issue relates to a software power-up monitoring function that verifies some system monitors are operating correctly.

One of the monitors was not being initiated correctly, officials said. The monitor check is prompted by a software command at airplane or system power up, and will set the appropriate indication if maintenance is required, company officials added.

The Federal Aviation Administration (FAA) did not immediately comment. ABC News reported the issue early Friday.

Boeing is halting production of the 737 MAX this month following the grounding in March of its best-selling plane after two fatal crashes in five months killed 346 people.

U.S. regulators are waiting for an update from Boeing on how they will resolve the issue. A U.S. official briefed on the matter said Friday the FAA is now unlikely to approve the plane’s return until March but it could take until April.

This week, American Airlines Group Inc <AAL> and Southwest Airlines Co <LUV> both said they would extend cancellations of MAX flights until early June.

Also this month, the FAA and Boeing said they were reviewing a wiring issue that could potentially cause a short circuit on the grounded 737 MAX. Officials said the review is looking at whether two bundles of wiring are too close together, which could lead to a short circuit and potentially result in a crash if pilots did not respond appropriately.

U.S. and European aviation safety regulators met with Boeing in an effort to complete a 737 MAX software documentation audit that was begun in November. Documentation requirements are central to certification for increasingly complex aircraft software, and can become a source of delays.

(Reporting by David Shepardson; Editing by Chris Reese and David Gregorio)

JetBlue Founder David Neeleman Selects Salt Lake City as Headquarters for New Airline

December 16, 2019 / WIL BALDWIN

America’s newest and perhaps most innovative airline does not yet have a name, or any airplanes. But it now has a headquarters.

David Neeleman’s startup will be based in Salt Lake City, where it plans to spend a capital investment of $3.2 million and create nearly 400 jobs over the next five years, according to local authorities. In return, the state offered tax rebates worth as much as about $1.1 million over five years.

“There’s a super strong technology base, and lower cost of living than California and some of the coastal areas,” Lukas Johnson, the airline’s chief commericial said in an interview. “We want to focus more on the technology aspect of the transportation side, and it makes a lot of sense. The tech sector is booming out here.”

Click the link for the full story! https://finance.yahoo.com/news/jetblue-founder-david-neeleman-selects-195511487.html

Former Boeing Employee Who Warned of 737 Problems to Testify

December 9, 2019 / WIL BALDWIN

WASHINGTON, Dec 9 (Reuters) – A former Boeing Co employee who warned of problems with 737 production will testify on Wednesday at a U.S. House hearing on the Federal Aviation Administration review of the grounded 737 MAX.

The aircraft has been grounded since March after two fatal crashes in five months killed 346 people. Federal officials say the FAA is not expected to authorize the plane to fly until January at the earliest.

Former Boeing employee Edward Pierson, who had worked as a senior operations manager in the flight test and evaluation unit, will testify before the U.S. House Transportation and Infrastructure Committee, the panel said in a notice.

Pierson’s concerns were referenced at an Oct. 30 hearing — though he had not been named previously.

“All my internal warning bells are going off and for the first time in my life, I’m sorry to say that I’m hesitant about putting my family on a Boeing airplane,” Pierson wrote to Boeing management in mid-2018 before the first crash, according to an email obtained by the committee. He warned “the alternative of rushing to build is far riskier.”

Boeing spokesman Gordon Johndroe said Monday that “although Mr. Pierson did not provide specific information or detail about any particular defect or quality issue, Boeing took his concerns about 737 production disruption seriously.” He added that after Pierson retired and raised the issue again as recently as this year “those concerns received renewed scrutiny at the highest levels of the company.”

Johndroe added “the suggestion by Mr. Pierson of a link between his concerns and the recent MAX accidents is completely unfounded.”

Pierson could not immediately be reached on Monday.

Representative Albio Sires, a Democrat, on Oct. 30, questioned Boeing CEO Dennis Muilenburg about concerns raised by a Boeing employee about Boeing’s 737 production and his recommendation that production be halted. Sires said the employee wrote directly to Muilenburg in December 2018 after he had retired.

Johndroe confirmed Monday Pierson was the employee referenced by Sires.

“He raised some good concerns. We went back and took a look at his concerns and in some cases we identified areas where we thought his issues had already been addressed,” Muilenburg said at the hearing. Boeing did not slow production after Pierson’s concerns.

FAA Administrator Steve Dickson, FAA Aircraft Certification Service Executive Director Earl Lawrence and a member of the FAA’s Technical Advisory Board, Matt Kiefer, as well as former FAA employee G. Michael Collins will also testify.

(Reporting by David Shepardson; Editing by Dan Grebler and Lisa Shumaker)

Air New Zealand Says 14,000 Passengers to be Affected by Rolls-Royce Engine Issue

November 17, 2019 / WIL BALDWIN

Nov 18 (Reuters) – Air New Zealand Ltd said on Monday about 14,000 customers would be affected by cancellations this summer because of ongoing Rolls-Royce engine checks on its Boeing 787-9 aircraft.

The national carrier, which has 10 Trent 1000 engines on its 787-9 fleet, said the schedule changes were “now unavoidable”, adding that further changes may also be needed.

Rolls-Royce has been struggling to fix an issue on blades on the TEN variant, causing more and more passengers face disruptions due to checks and repair work.

“Rolls-Royce does not have any replacement engines available while maintenance work is undertaken and has advised Air New Zealand there’s significant wait for repair service,” said a statement by the airline.

Air New Zealand will suspend its twice-a-week seasonal Christchurch-Perth service – hitting 61 flights – and its second daily Auckland-Perth service from Dec. 10 until Jan 5, 2020.

“Going into the holiday season we’re acutely aware how important travel is to our customers, and our schedule changes are designed to keep cancellations to a minimum,” Air NZ’s Senior Manager Customer Care and Communications Doug Grant said in a statement.

Rolls-Royce’s cost to fix the issue jumped by another 800 million pounds ($1.02 billion), as the aerospace group promised to spend more on parts and replacement engines to reduce the time aircraft are grounded while turbine blades are replaced.

($1 = 0.7815 pounds)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Peter Cooney and Tom Brown)

Textron Bell 407GXI Earns IFR Certification

August 18, 2019 / WIL BALDWIN

FORT WORTH, Texas (15 August 2019) – Bell Textron Inc., a Textron Inc. (NYSE:TXT) company, announced the Federal Aviation Administration (FAA) has issued an Instrument Flight Rules (IFR) Supplemental Type Certificate (STC) for the Bell 407GXi. The certification is a requirement for the Navy Advanced Helicopter Training System competition, enabling the Bell 407GXi to replace the Bell TH-57 Sea Ranger as the US Navy’s training helicopter.

Bell’s replacement bid offers a unique combination of capability, ease of transition, and low sustainment costs, giving the best value to the Navy. Should the Bell 407GXi be selected for the US Navy Advanced Helicopter Trainer program, the company plans to conduct final assembly of the aircraft in Ozark, Alabama.

“The team did a great job ensuring the Bell 407GXi achieved the FAA’s IFR certification necessary to meet all of the Navy’s requirements,” said Mitch Snyder, president and CEO. “Bell is an instrumental part of the Navy’s training program and has been for more than 50 years, and we look forward to continuing the tradition for the next generation of Naval Aviators.”

A Bell to Bell transition offers low-risk to the Navy by streamlining instructor pilot and maintainer transition training as well as using common support equipment and infrastructure. The 407 airframe has already proven capabilities as the platform for the MQ-8C Fire Scout for the US Navy. Bell’s industry-leading customer service and support has established capability with cost-efficient and effective helicopter training solutions.

Bell proves its mature production and sustainment support capability every day by supporting more than 1,600 Bell 407s globally. These aircraft have nearly 6 million flight hours across the fleet and are actively performing flight training as well as military and para-public missions helicopter mission-set. The 407GXi’s Garmin G1000H™ NXi Flight Deck enhances situational awareness and reduces pilot workload by delivering easy-to-read information at a glance. The Bell 407GXi’s new IFR capability will allow all-weather operations while continuing to provide multimission capability safely, reliably, and effectively. The Bell 407GXi offers the lowest direct operating costs of any IFR-capable helicopter produced today. Combined with its proven performance, reliability, and ease of transition, the Bell 407GXi is the best value aircraft for US Navy helicopter training.

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