At Rolls-Royce (OTC: RYCEY), we aim to lead the Advanced Air Mobility market and achieve the world’s first certification of an electric engine for commercial aircraft by the mid-2020s. Light aircraft are already flying with electric propulsion, demonstrating the technological possibilities for the decarbonisation of large aviation in the future, if we can develop at scale.
In 2022, Rolls-Royce Electrical launched a dedicated programme that will enable us to achieve the levels of mass production needed to support the industry, embedding industrialisation within our electric propulsion product portfolio.
To do this, the programme is focussed on developing the right capabilities within the business’s core functions: supply chain, manufacturing, quality and services. As such, our core industrialisation team is working in close collaboration with a new product introduction projects team to ensure that any under-development electric drive technologies and systems can be sourced, manufactured and serviced at scale.
Rolls-Royce supply chain teams are responsible for sourcing partners to produce materials that will not only uphold the highest of aviation safety standards but that can be sourced and brought to the assembly line affordably and at pace, ready to support mass production.
Once chosen, the supply chain team also support our engineers by working hand-in-hand with suppliers throughout the product’s design to ensure that customer needs are met.
Aerial view of the Canadian rockies mountains in the Banff national park, Canada
Porter Airlines has unveiled plans to extend its award-winning service to destinations throughout North America with a firm order for 30 Embraer E195-E2 jets, with purchase rights for a further 50 aircraft. The deal will be included in Embraer’s second quarter backlog, and is worth USD5.82 billion, at list price with all options exercised. First revealed in May 2021, this announcement adds the purchase rights and the customer name, which had been undisclosed.
Porter Airlines will be the North American launch customer for Embraer’s newest family of jets, the E2. Porter’s investment is set to disrupt the Canadian aviation landscape; enhancing competition, elevating passenger service levels and creating as many as 6,000 new jobs. Porter intends to deploy the E195-E2s to popular business and leisure destinations throughout Canada, the United States, Mexico and the Caribbean, from Ottawa, Montreal, Halifax and Toronto Pearson International Airport.
Porter’s first delivery and entry into service is scheduled starting in the second half of 2022. The option to convert purchase rights to the E190-E2s is included in the agreement. This would provide greater flexibility to introduce non-stop service in markets with fewer passengers, and to add frequencies on higher demand routes.
The E195-E2 accommodates between 120 and 146 passengers. Configuration plans for Porter’s E2s will be revealed in due course.
CHICAGO, Jan. 20, 2021 /PRNewswire/ — United Airlines (NASDAQ: UAL) today announced fourth-quarter and full-year 2020 financial results. The company continues its efforts to lead the industry as it manages the most disruptive crisis in aviation history.
Since the beginning of the COVID-19 crisis, United has raised over $26 billion in liquidity and made important progress in reducing core cash burn (see detailed chart below) to ensure the company’s survival. Over the last three quarters, the company has identified $1.4 billion of annual cost savings and has a path to achieve at least $2.0 billion in structural reductions moving forward. United ended 2020 with $19.7 billion in available liquidity1, including an undrawn revolver capacity and funds available under the CARES Act loan program from the U.S. Treasury.
Having stabilized its financial foundation, the company expects 2021 to be a transition year that’s focused on preparing for a recovery. United has resumed heavy maintenance and engine overhauls, investments that are essential to recovery when demand returns. The combination of structural cost reduction and timely investments will help set up United to exceed its 2019 adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) margin in 2023. The company expressed high confidence that it would achieve this target by 2023 – and said its ongoing recovery planning would help ensure the company was equipped to reach this level even sooner, if demand returns more quickly.
“Aggressively managing the challenges of 2020 depended on our innovation and fast-paced decision making. But, the truth is that COVID-19 has changed United Airlines forever,” said United Airlines CEO Scott Kirby. “The passion, teamwork and perseverance that the United team showed in 2020 is exactly what will help us build a new United Airlines that’s better, stronger and more profitable than ever. I could not be prouder of – and more grateful to – this team, which is going to lead us there.”
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Airbus-led consortiums have recently won a series of contracts to shape the future of EGNOS, the European Geostationary Navigation Overlay Service. EGNOS enhances Galileo and GPS signals to provide augmented safety of life services.
EGNOS V3, set to replace the current version, is already being developed by a consortium of 20 European companies led by Airbus. It will enable ‘Category I’ automatic landing of aircraft – with the flight crew supervising – in weather conditions where it would otherwise be dangerous or impossible to operate.
To prepare EGNOS V3 Evolutions, the European Space Agency (ESA) has awarded a new study contract to Airbus. The focus is on the use of the augmentation service for stringent operations like Category II approach and landing under very low visibility conditions going beyond the current EGNOS V3 performance requirements.
Preceding this, Airbus has been conducting an innovative study under the ESA NAVISP Programme to assess the potential of sensor fusion techniques, for aviation applications demanding stringent performance requirements aiding operations under low visibility conditions. The study assesses the fit and the benefits of this approach to the Positioning Navigation & Timing (PNT) requirement adherence, in particular for the Satellite Navigation.
In addition, Airbus, together with European partners, has won a series of contracts from the European Global Navigation Satellite Systems Agency (GSA) and ESA to extend EGNOS service use for the safe operations of railways. The resulting projects are:
– CLUG (Certifiable Localisation Unit with GNSS): GNSS could prove a game changer for the European railway network by enabling a significant reduction of trackside equipment and by improving localisation performance. This project is performing mission analysis/needs identification and a preliminary feasibility study of an on-board localisation unit.
– GREET (GNSS for the Railway EnvironmEnT) ESA recently awarded Airbus a study for the development of a railway GNSS receiver chain to support the testing and validation of integrity concepts, algorithms, and techniques for receivers in railway environment.
– EGNSS-R (European GNSS for Rail): Rail signaling systems are used to safely control traffic in order to prevent train collisions. The project aims to define a new GNSS augmentation service for improved rail signaling, along with an implementation roadmap.
Alaska Airlines, Inc.’s board of directors today elected Brooke Vatheuer to the new position of vice president strategic performance – Seattle, where she will lead the airline’s growing, hometown hub at Sea-Tac International Airport.
Vatheuer, who previously served as senior vice president of operations and planning for Horizon Air, will be a champion for Alaska’s guests and employees as it continues to grow its operations at Sea-Tac. Vatheuer will be accountable for the guest experience, operational metrics, gate space areas, ground staffing, air space management and employee engagement at Sea-Tac. The new leadership role reflects the airline’s continued focus on Seattle as a center of national and global connections for guests traveling for both business and leisure.
Vatheuer has more than a decade of experience at Alaska Airlines and Horizon Air. She started with Alaska in 2007 as an internal auditor and quickly took on new positions and leadership roles in the following years, including managing director of audit programs. In 2017, she joined Horizon Air as vice president of finance and planning where she oversaw operational performance, led strategic planning and continued to improve processes, collaboration and engagement among Horizon’s frontline employees.
“Brooke is a talented executive with a lengthy history of experience at Alaska Air Group managing people and operations,” said Gary Beck, Alaska’s executive vice president and chief operating officer. “She has an astute understanding of the airline business. Her work in audit, finance, analytics, strategic planning and as the head of operations at Horizon Air enables her to deeply appreciate the intricacies of an effective operation. Our guests can look forward to an improved experience at Sea-Tac airport.”
Vatheuer earned a bachelor’s degree in business administration from the University of Washington, as well as a master’s degree in professional accounting. She is a certified public accountant.
Alaska Airlines and its regional partners fly 47 million guests a year to more than 115 destinations with an average of 1,300 daily flights across the United States and to Mexico, Canada and Costa Rica. With Alaska and Alaska Global Partners, guests can earn and redeem miles on flights to more than 800 destinations worldwide. Alaska Airlines ranked “Highest in Customer Satisfaction Among Traditional Carriers in North America” in the J.D. Power North America Airline Satisfaction Study for 12 consecutive years from 2008 to 2019. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).
CHICAGO, Dec. 5, 2019 /PRNewswire/ — United Airlines (NASDAQ: UAL) today announced that Oscar Munoz, Chief Executive Officer, will transition to the role of Executive Chairman of the Board of Directors of United Airlines Holdings, Inc. in May 2020. As CEO, Munoz has transformed United’s culture and set new standards of operational and financial performance. J. Scott Kirby, President, will succeed Munoz as Chief Executive Officer.
“With United in a stronger position than ever, now is the right time to begin the process of passing the baton to a new leader,” Munoz said. “One of my goals as CEO was to put in place a successful leadership transition for United Airlines. I brought Scott to United three years ago, and I am confident that there is no one in the world better equipped to lead United to even greater heights. It has been the honor of my career to lead the 95,000 dedicated professionals who serve United’s customers every day. I look forward to continuing to work closely with Scott in the months ahead and supporting the company’s ongoing success in my new role.”
Kirby was recruited to United Airlines by Munoz in August 2016, after a three-decade career in the commercial airline business. His appointment reflects a commitment from Munoz and the Board to preserve leadership continuity and demonstrates confidence in the airline’s strategy and current trajectory.
“When I joined United as CEO, I laid out ambitious goals to build a new spirit of United by regaining the trust of our employees and customers – and I’m proud of how far we’ve come,” Munoz said. “Along with the successful implementation of the plan our team laid out in January 2018, United’s operational and financial performance isn’t just better – it’s better than ever. By instilling a culture of ‘proof not promise,’ we have transformed United even faster than we expected and there’s an incredible sense of excitement about the future.”
Kirby, a highly-regarded industry leader, has played a pivotal role in enabling United’s cultural transformation and successfully executing the company’s strategic growth plan.
“I am honored to be named the next CEO of United and to succeed Oscar, whose leadership has been truly transformational for United Airlines,” Kirby said. “I look forward to working with Oscar, the Board, our established leadership team and every United employee as we drive forward our proven strategy and focus on being the airline customers choose to fly and return to time and again.”
Munoz will serve as Executive Chairman for a one-year term and will continue to work closely with Kirby, the Board and the United team in shaping United’s employee and customer-centric culture. He will also lead the company’s Board and continue to engage on behalf of United with a range of external stakeholders.
As part of this transition, United’s current Chairman, Jane Garvey, will retire from the Board in May 2020 after more than a decade of exceptional service, including serving as Chairman since May 2018. At the request of the Board, Garvey agreed to remain in her role for a year beyond the Board’s mandatory retirement age.
“On behalf of the Board of Directors, I cannot thank Oscar enough for his outstanding leadership and commitment to United, and we are pleased that we will continue to benefit from his expertise and experience in his role as Executive Chairman,” Garvey said. “Oscar became CEO at one of the most challenging points in United’s history, and his focus on putting customers and employees first has transformed United’s culture today and successfully positioned the company for tomorrow. One of Oscar’s greatest legacies is the best-in-class leadership team he has built, and we have full confidence that Scott is the ideal candidate to lead United into the bright future that lies ahead.”
The company also announced that Ted Philip will become Lead Independent Director following the 2020 Annual Meeting of Shareholders. Philip joined the Board in July 2016 and chairs the Nominating/Governance Committee. He also currently serves on the Board of Directors of Hasbro, Inc. and BRP Inc.
“I could not be more excited about the opportunity that we have at United over the next several years to fulfill this airline’s incredible potential,” Philip said. “I am proud to work alongside Oscar in guiding United’s Board and leadership team, and I am eager to get to work on delivering for all of our stakeholders. The entire Board and I want to thank Jane for her many contributions to United over the last decade, including her highly successful tenure as Chairman.”
All of the changes announced today will take effect following the company’s Annual Meeting of Shareholders, scheduled for May 20, 2020.
Every customer. Every flight. Every day.
In 2019, United is focusing more than ever on its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers’ best interests at the heart of its service. In addition to today’s news, United recently announced that MileagePlus miles will now never expire, giving members a lifetime to use miles on flights and experiences. Customers now have more free on board snack options as well, with a choice of Lotus Biscoff cookies, pretzels and the Stroopwafel. The airline also recently released a re-imagined version of the most downloaded app in the airline industry, introduced ConnectionSaver – a tool dedicated to improving the experience for customers connecting from one United flight to the next – and launched PlusPoints, a new upgrade benefit for MileagePlus premier members.
Greg Foran, president and CEO of Walmart U.S., smiles after speaking about the company’s Black Friday plans at a Walmart store in Secaucus, New Jersey
(Reuters) – Air New Zealand Ltd <ANZLY> named Walmart U.S. boss Greg Foran as its new chief executive on Friday, bringing him back home at a time the airline is trying to control costs in a lower-growth environment.
New Zealand-born Foran is credited with turning around Walmart Inc’s <WMT.N> U.S. business as its president and CEO since 2014, with the unit reporting 20 quarters of comparable sales growth under his leadership.
Air New Zealand Chairman Therese Walsh said the carrier was “thrilled to have attracted a world class Kiwi back home.”
“Greg has an impeccable track record in delivering strong commercial performance, outstanding customer focus and in building teams that can take a business to the next level,” Walsh said in a statement.
Grant Williamson, investment adviser at Hamilton Hindin Greene in Christchurch, said snagging Foran was a coup for the carrier.
“In the short term, it’s not going to have a major impact on earnings, there’s bigger things moving in the background like oil prices and global growth,” Williamson said. Air New Zealand shares were marginally higher at NZ$2.85 on Friday.
“But in terms of someone to have a steady hand on the wheel for Air New Zealand going forward, I don’t think they could do much better,” Williamson added.
Foran, who boosted Walmart’s sales by focusing on improving existing stores to keep costs and prices low, said he looked forward to building on Air New Zealand’s competitive advantage in customer focus and care.
The airline is known overseas for its quirky safety videos and consistently ranks highly in global airline customer surveys.
Foran will join Air New Zealand in the first quarter of next year, replacing Christopher Luxon who departed last month after seven years in the role. Luxon, a former Unilever executive, had also joined the airline after a career in fast-moving consumer goods.
During Luxon’s tenure, the carrier was recognised globally as an industry leader for its focus on innovation, environmental sustainability and diversity in hiring.
However, it has more recently faced challenges from a higher fuel bill and weak travel demand, leading the national carrier to report a 31% fall in annual profit in August.
Air New Zealand Chief Revenue Officer Cam Wallace, who had been an internal contender for the top job, according to sources with knowledge of the matter, welcomed the appointment on Twitter.
Foran will remain at Walmart until Jan. 31, when he will be replaced by the head of its Sam’s Club warehouse chain, John Furner.
“While we’ve been highly impressed with Mr. Furner’s work at Sam’s Club… he does admittedly have big shoes to fill,” said a note from Jefferies Group LLC <JEF.N>. “We can’t help but expect the market to react negatively to today’s news.”
(Reporting by Jamie Freed in Singapore and Devika Syamnath in Bengaluru, additional reporting by Nandita Bose in Washington; Editing by Sandra Maler and Jane Wardell)
The expansion project at Chicago O’Hare is expected to cost $8.5 billion and is hoped to increase the ease with which passengers travel through the terminal, increasing the passenger experience.
The City of Chicago has announced the selection of an architect team to lead the design of the unprecedented $8.5 billion expansion programme for O’Hare International Airport. Studio ORD has been selected to design the new O’Hare Global Terminal and Global Concourse. Studio ORD will work with the City of Chicago and the airlines to design the new Global Terminal and Concourse.
