TOMORROWS TRANSPORTATION NEWS TODAY!
Delta Air Lines (NYSE: DAL) now 5-year-old Joint Venture with Korean Air is a significant driver of Delta’s evolution into a global brand, with robust international demand driven by experience-seeking customers.
That’s according to Delta’s Managing Director of East Sales, Scott Jordan, who recently sat down for an interview with The Korea Economic Daily, one of South Korea’s major daily newspapers.
Click the link below to read the full story!
Delta Korean Air joint venture
Japan Coast Guard (JCG) will expand its fleet with two new Airbus (OTC: EADSY) H225 helicopters, taking its total Super Puma fleet up to 17, comprising two AS332s and 15 H225s. The largest Super Puma operator in Japan received its tenth H225 in February this year. The new helicopters will join its growing fleet to support territorial coastal activities, security enforcement, as well as disaster relief missions in the country.
JCG’s H225 fleet is covered by Airbus’ highly adaptive HCare Smart full-by-the-hour material support. This customised fleet availability programme allows the national coast guard agency to focus on its flight operations whilst Airbus manages its assets
Offering the industry’s best range, speed, payload and reliability in the 11-ton-category twin-engine rotorcraft, the H225 is the latest member of Airbus Helicopters’ Super Puma family that has accumulated more than 5.7 million flight hours in all-weather conditions around the world. Equipped with state-of-the-art electronic instruments and renowned autopilot precision, the H225 offers outstanding endurance and fast cruise speed, and can be fitted with various equipment to suit a variety of roles.
Close to 30 helicopters from the Super Puma family are currently flown in Japan by civil, parapublic operators, and Japan’s Ministry of Defense for various search and rescue missions, VIP, fire-fighting, and passenger and goods transportation.
Also, the Republic of Singapore Air Force (RSAF) has taken delivery of its first H225M helicopter. Airbus Helicopters signed the contract with Singapore’s Ministry of Defence for the acquisition of H225M Medium Lift Helicopters in 2016.
Singapore’s fleet of H225Ms is expected to assume a wide range of roles, including search and rescue, aeromedical evacuation, as well as humanitarian assistance and disaster relief operations.
A combat-proven multi-purpose and versatile asset, the H225M enables military forces to deploy wherever and whenever needed. 104 H225Ms are currently in service across the world, having accumulated more than 143,000 flight hours. The H225M is relied upon by Brazil, France, Indonesia, Malaysia, Mexico Thailand to support their most demanding missions.
WILMINGTON, Ohio – (BUSINESS WIRE) – Air Transport Services Group, Inc. (NASDAQ: ATSG) said today that its subsidiary, LGSTX Services, Inc., was recently awarded a five-year contract with the U.S. Postal Service to install and operate a Surface Transfer Center (STC) in Orlando, Fla., where postal products are sorted and consolidated for further distribution.
LGSTX Services has hired approximately 150 full-time employees at the center, with further hiring possible as product volumes increase. The company manages a similar facility for the Postal Service in Aurora, Ill., and has managed several others over the last two decades.
“To be awarded this contract for a second STC is a testament to the level of service the LGSTX team has provided,” said Jim Pradetto, president of LGSTX Services. “Our extensive history of managing these centers for the Postal Service gives us a unique advantage in understanding and anticipating their needs, allowing us to continually deliver the speed and operational support they require.”
Toulouse, 9 February, 2021 – ATR has appointed Tiziana Masullo Managing Director and President of ATR Americas, a subsidiary of ATR, effective from December 2020. Based in Miami, Tiziana previously served as Vice President of Services Sales and Contracts, and succeeds Jurgen Lebacs. Tiziana will oversee a staff of 32 people, covering the following areas: Technical support and Safety, Training and Flight Ops, Services Sales and Contracts, Customer Material Support, GMA & Repairs, CSDs and FSR, Finance and Human Resources.
After graduating from ITC Serra with a diploma in Foreign Languages and Literature, Tiziana began her career with Leonardo, before moving to ATR where she has spent 27 years. With a lengthy background and many leadership positions in Training, Flight Operations and Services Sales, as well as Contract Negotiation, Tiziana brings a wealth of experience to her new role. She is also the first woman to lead one of ATR’s subsidiaries.
Tiziana has two children, David who is 22 years old and is studying sociology at London School of Economics in London, and Nikita who is 18, who lives in Miami studying to be a veterinary assistant.
– New courses include helicopter specific eLearning courses for G1000H NXi
Garmin® International Inc., a unit of Garmin Ltd., is pleased to announce two new eLearning training courses for the G1000® NXi, as well as two separate eLearning courses for the G1000H NXi integrated flight deck for helicopters. These training courses are available in a virtual eLearning format allowing pilots to learn at their own pace, with the G1000 NXi Fundamentals eLearning Course providing a foundational understanding of the system, while the G1000 NXi Essentials eLearning Course is focused on systems installed in high-performance piston and turbine engine aircraft. The two comprehensive eLearning courses for the G1000H NXi integrated flight deck titled G1000H NXi Fundamentals, and G1000H NXi Advanced-IFR, use scenario-based training to highlight helicopter-specific operations and are tailored for pilots new to the G1000H NXi system, in addition to those with experience wanting a deeper understanding of the system.
Core training topics
All four training courses build on a common core of training topics. These topics are common to all G1000 NXi and G1000H NXi systems but are tailored to the audience for each course. The topics include:
Learn best-practices for G1000 NXi operational use
For those that are new to Garmin avionics, transitioning to advanced avionics, or perhaps want to refresh their understanding of the system, the G1000 NXi Fundamentals eLearning Course provides comprehensive training on the system designed for piston engine equipped aircraft. This course describes features of the system in detail and use a scenario to demonstrate how particular features function in different phases of flight in order to see this advanced system in action. In order to practice what you learned during this course, the Garmin G1000 NXi PC Trainer software is available for purchase online.
G1000 NXi for high-performance piston and turbine aircraft
For those operating high-performance piston or turbine-engine equipped aircraft, the G1000 NXi Essentials course presents best-practices for the G1000 NXi integrated flight deck by providing detailed training for pilots wanting to get the most out of the system. In addition to describing features in detail and showing how they can be used effectively in flight, scenario-based training demonstrates typical high-performance piston and turbine-engine aircraft operations, providing an opportunity to see the G1000 NXi system in full effect. For your specific or similar aircraft, the Garmin G1000 NXi PC Trainer software is available for purchase online, and provides the opportunity to take what you learned throughout the course and apply it. In addition to the core training topics, the G1000 NXi Essentials eLearning Course includes additional instruction on:
Build helicopter-specific system knowledge
The G1000H NXi Fundamentals course is designed for VFR helicopter pilots who are new to Garmin avionics, transitioning to advanced avionics, or perhaps want a refresher on the G1000H NXi. This allows the pilot to be comfortable with the avionics and maximize learning during valuable flight time. Learn how to take full advantage of the capabilities of the G1000H NXi system while gaining experience with operational use best practices. This virtual course allows pilots to learn at their own pace, details system features and provides a VFR flight scenario to show how these features are used in various phases of flight. Those that sign up for this course receive an additional scripted scenario for more practice through the Bell 407GXi G1000H NXi PC Trainer software, available for purchase online. The core training topics in the G1000H NXi Fundamentals eLearning Course have been tailored to helicopter-specific features and functionality, including differences for:
Enhance IFR helicopter skills with G1000H NXi
The G1000H Advanced-IFR course provides a detailed look at the G1000H NXi system and illustrates best practices for operational use of the flight deck, with a focus on Instrument Flight Rules (IFR). The course uses phase of flight scenarios to demonstrate typical IFR helicopter operation, and depicts common practices to maximize the benefits of system features and capabilities. For helicopter pilots who fly search-and-rescue missions, emphasis on user waypoints are included in the course scenarios. Pilots can further practice what they learned throughout the course with one of the additional scripted scenarios provided for use with the purchase of the Bell 407GXi G1000H NXi PC Trainer software. Some helicopter-tailored training topics covered in the Advanced IFR eLearning Course include:
Proceed through the course at a pace that works best
Available immediately after purchase using a computer or tablet device with internet access, pilots can navigate through the virtual course at their own pace. Assessments throughout the course validate knowledge obtained of critical items while documenting the learning process. With the ability to pause lessons as needed to return to the lesson later, this is a convenient option for any pilot. Also, pilots can retake specific lessons or even the entire course during the subscription period.
The G1000 NXi Fundamentals eLearning course is available now for $94.95 USD, and the G1000 NXi Essentials eLearning Course is now available for $145.95 USD. Also available is the G1000H NXi Fundamentals eLearning Course for $74.95 USD, as well as the G1000H NXi Advanced IFR eLearning Course is available for $94.95 USD. For aviation training needs, including purchasing one of these eLearning courses, please visit www.fly.garmin.com/training.
– Financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding
– Proactively managing liquidity and transforming for the future
– Revenue of $14.1 billion, GAAP loss per share of ($0.79) and core (non-GAAP)* loss per share of ($1.39)
– Operating cash flow of ($4.8) billion; cash and marketable securities of $27.1 billion
– Total backlog of $393 billion, including more than 4,300 commercial airplanes
| Table 1. Summary Financial Results | Third Quarter | Nine Months | |||||||||
| (Dollars in Millions, except per share data) | 2020 | 2019 | Change | 2020 | 2019 | Change | |||||
| Revenues | $14,139 | $19,980 | (29)% | $42,854 | $58,648 | (27)% | |||||
| GAAP | |||||||||||
| (Loss)/Earnings From Operations | ($401) | $1,259 | NM | ($4,718) | $229 | NM | |||||
| Operating Margin | (2.8)% | 6.3% | NM | (11.0)% | 0.4% | NM | |||||
| Net (Loss)/Earnings | ($466) | $1,167 | NM | ($3,502) | $374 | NM | |||||
| (Loss)/Earnings Per Share | ($0.79) | $2.05 | NM | ($6.10) | $0.66 | NM | |||||
| Operating Cash Flow | ($4,819) | ($2,424) | NM | ($14,401) | ($226) | NM | |||||
| Non-GAAP* | |||||||||||
| Core Operating (Loss)/Earnings | ($754) | $895 | NM | ($5,773) | ($864) | NM | |||||
| Core Operating Margin | (5.3)% | 4.5% | NM | (13.5)% | (1.5)% | NM | |||||
| Core (Loss)/Earnings Per Share | ($1.39) | $1.45 | NM | ($7.88) | ($1.13) | NM |
| *Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures.” |
The Boeing Company [NYSE: BA] reported third-quarter revenue of $14.1 billion, GAAP loss per share of ($0.79) and core loss per share (non-GAAP)* of ($1.39), reflecting lower commercial deliveries and services volume primarily due to COVID-19 (Table 1). Boeing recorded operating cash flow of ($4.8) billion.
“The global pandemic continued to add pressure to our business this quarter, and we’re aligning to this new reality by closely managing our liquidity and transforming our enterprise to be sharper, more resilient and more sustainable for the long term,” said Boeing President and Chief Executive Officer Dave Calhoun. “Our diverse portfolio, including our government services, defense and space programs, continues to provide some stability for us as we adapt and rebuild for the other side of the pandemic. We remain focused on the health and safety of our employees and their communities. I’m proud of the dedication and commitment our teams have demonstrated as they continued to deliver for our customers in this challenging environment. Despite the near-term headwinds, we remain confident in our long term future and are focused on sustaining critical investments in our business and the meaningful actions we are taking to strengthen our safety culture, improve transparency and rebuild trust.”
Following the lead of global regulators, Boeing made steady progress toward the safe return to service of the 737 MAX, including rigorous certification and validation flights conducted by the U.S. Federal Aviation Administration, Transport Canada and the European Union Aviation Safety Agency. The Joint Operational Evaluation Board, featuring civil aviation authorities from the United States, Canada, Brazil, and the European Union, also conducted its evaluations of updated crew training. The 737 MAX has now completed around 1,400 test and check flights and more than 3,000 flight hours as it progresses through the robust and comprehensive certification process.
To adapt to the market impacts of COVID-19 and position the company for the future, Boeing continued its business transformation across five key areas including its infrastructure footprint, overhead and organizational structure, portfolio and investment mix, supply chain health and operational excellence. As the company resizes its operations to align with market realities, Boeing expects to continue lowering overall staffing levels through natural attrition as well as voluntary and involuntary workforce reductions, and recorded additional severance costs in the third quarter.
| Table 2. Cash Flow | Third Quarter | Nine Months | |||||
| (Millions) | 2020 | 2019 | 2020 | 2019 | |||
| Operating Cash Flow | ($4,819) | ($2,424) | ($14,401) | ($226) | |||
| Less Additions to Property, Plant & Equipment | ($262) | ($465) | ($1,038) | ($1,387) | |||
| Free Cash Flow* | ($5,081) | ($2,889) | ($15,439) | ($1,613) |
| *Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 5, “Non-GAAP Measures Disclosures.” |
Operating cash flow was ($4.8) billion in the quarter, reflecting lower commercial deliveries and services volume primarily due to COVID-19, as well as timing of receipts and expenditures (Table 2).
| Table 3. Cash, Marketable Securities and Debt Balances | Quarter-End | ||
| (Billions) | Q3 20 | Q2 20 | |
| Cash | $10.6 | $20.0 | |
| Marketable Securities1 | $16.5 | $12.4 | |
| Total | $27.1 | $32.4 | |
| Debt Balances: | |||
| The Boeing Company, net of intercompany loans to BCC | $59.1 | $59.5 | |
| Boeing Capital, including intercompany loans | $1.9 | $1.9 | |
| Total Consolidated Debt | $61.0 | $61.4 |
| 1 Marketable securities consists primarily of time deposits due within one year classified as “short-term investments.” |
Cash and investments in marketable securities decreased to $27.1 billion, compared to $32.4 billion at the beginning of the quarter, primarily driven by operating cash outflows (Table 3). Debt was $61.0 billion, down from $61.4 billion at the beginning of the quarter due to the repayment of maturing debt.
Total company backlog at quarter-end was $393 billion.
Segment Results
Commercial Airplanes
| Table 4. Commercial Airplanes | Third Quarter | Nine Months | |||||||||
| (Dollars in Millions) | 2020 | 2019 | Change | 2020 | 2019 | Change | |||||
| Commercial Airplanes Deliveries | 28 | 62 | (55)% | 98 | 301 | (67)% | |||||
| Revenues | $3,596 | $8,249 | (56)% | $11,434 | $24,793 | (54)% | |||||
| Loss from Operations | ($1,369) | ($40) | NM | ($6,199) | ($3,813) | NM | |||||
| Operating Margin | (38.1)% | (0.5)% | NM | (54.2)% | (15.4)% | NM |
Commercial Airplanes third-quarter revenue decreased to $3.6 billion, reflecting lower delivery volume primarily due to COVID-19 impacts as well as 787 quality issues and associated rework. Third-quarter operating margin decreased to (38.1) percent, primarily driven by lower delivery volume, as well as $590 million of abnormal production costs related to the 737 program.
Commercial Airplanes added the final 777X flight test airplane to the test program and the GE9X engine received FAA certification. In October, the company decided it will consolidate 787 production in South Carolina in mid-2021, which did not have a significant financial impact on the program in the third quarter. Commercial Airplanes delivered 28 airplanes during the quarter, and backlog included over 4,300 airplanes valued at $313 billion.
Defense, Space & Security
| Table 5. Defense, Space & Security | Third Quarter | Nine Months | |||||||||
| (Dollars in Millions) | 2020 | 2019 | Change | 2020 | 2019 | Change | |||||
| Revenues | $6,848 | $7,002 | (2)% | $19,478 | $20,168 | (3)% | |||||
| Earnings from Operations | $628 | $754 | (17)% | $1,037 | $2,581 | (60)% | |||||
| Operating Margin | 9.2% | 10.8% | (1.6) Pts | 5.3% | 12.8% | (7.5) Pts |
Defense, Space & Security third-quarter revenue decreased to $6.8 billion, primarily due to derivative aircraft award timing, partially offset by higher fighter volume (Table 5). Third-quarter operating margin decreased to 9.2 percent reflecting less favorable performance, including a $67 million KC-46A Tanker charge.
During the quarter, Defense, Space & Security received an award for eight F-15EX advanced fighter aircraft for the U.S. Air Force and a contract extension for the International Space Station for NASA, as well as contracts for nine additional MH-47G Block II Chinook helicopters for the U.S. Army Special Operations and four additional 702X satellites. Also in the quarter, the U.S. Air Force and Boeing team was awarded the Collier Trophy for aerospace excellence for the X-37B autonomous spaceplane. Significant milestones included inducting the 20th U.S. Navy F/A-18 into the Service Life Modification program as well as delivering the firstBell Boeing V-22 Osprey to Japan and the first MH-47G Block II Chinook to the U.S. Army Special Operations.
Backlog at Defense, Space & Security was $62 billion, of which 30 percent represents orders from customers outside the U.S.
Global Services
| Table 6. Global Services | Third Quarter | Nine Months | |||||||||
| (Dollars in Millions) | 2020 | 2019 | Change | 2020 | 2019 | Change | |||||
| Revenues | $3,694 | $4,658 | (21)% | $11,810 | $13,820 | (15)% | |||||
| Earnings from Operations | $271 | $673 | (60)% | $307 | $2,013 | (85%) | |||||
| Operating Margin | 7.3% | 14.4% | (7.1) Pts | 2.6% | 14.6% | (12.0) Pts |
Global Services third-quarter revenue decreased to $3.7 billion, driven by lower commercial services volume due to COVID-19, partially offset by higher government services volume (Table 6). Third-quarter operating margin decreased to 7.3 percent primarily due to lower commercial services volume and additional severance costs.
During the quarter, Global Services signed an agreement with GECAS for 11 737-800 Boeing Converted Freighters, secured a six-year P-8A support contract for the Royal Australian Air Force, and was awarded F-15EX training and services support contracts by the U.S. Air Force. Global Services also delivered the first P-8A Operational Flight Trainer for the United Kingdom Royal Air Force.
Additional Financial Information
| Table 7. Additional Financial Information | Third Quarter | Nine Months | |||||
| (Dollars in Millions) | 2020 | 2019 | 2020 | 2019 | |||
| Revenues | |||||||
| Boeing Capital | $71 | $66 | $205 | $207 | |||
| Unallocated items, eliminations and other | ($70) | $5 | ($73) | ($340) | |||
| Earnings from Operations | |||||||
| Boeing Capital | $30 | $29 | $47 | $86 | |||
| FAS/CAS service cost adjustment | $353 | $364 | $1,055 | $1,093 | |||
| Other unallocated items and eliminations | ($314) | ($521) | ($965) | ($1,731) | |||
| Other income, net | $119 | $121 | $325 | $334 | |||
| Interest and debt expense | ($643) | ($203) | ($1,458) | ($480) | |||
| Effective tax rate | 49.6% | 0.8% | 40.1% | (350.6)% |
At quarter-end, Boeing Capital’s net portfolio balance was $2.0 billion. The change in revenue and earnings from other unallocated items and eliminations was primarily due to the timing of cost allocations. Earnings from other unallocated items and eliminations was also impacted by lower enterprise research and development expense. Interest and debt expense increased due to higher debt balances. The third quarter effective tax rate reflects tax benefits related to the five year net operating loss carryback provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act as well as the impact of pre-tax losses.
Non-GAAP Measures Disclosures
We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (GAAP) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company’s ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. The following definitions are provided:
Core Operating Earnings, Core Operating Margin and Core Earnings Per Share
Core operating earnings is defined as GAAP earnings from operations excluding the FAS/CAS service cost adjustment. The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core operating margin is defined as core operating earnings expressed as a percentage of revenue. Core earnings per share is defined as GAAP diluted earnings per share excluding the net earnings per share impact of the FAS/CAS service cost adjustment and Non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. Pension costs, comprising service and prior service costs computed in accordance with GAAP are allocated to Commercial Airplanes and BGS businesses supporting commercial customers. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. Management uses core operating earnings, core operating margin and core earnings per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as they exclude non-service pension and post-retirement costs, which primarily represent costs driven by market factors and costs not allocable to government contracts. A reconciliation between the GAAP and non-GAAP measures is provided on pages 12-13.
Free Cash Flow
Free cash flow is GAAP operating cash flow reduced by capital expenditures for property, plant and equipment. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long term value creation. Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity. Table 2 provides a reconciliation of free cash flow to GAAP operating cash flow.
Caution Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions generally identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to: (1) the COVID-19 pandemic and related government actions, including with respect to our operations, our liquidity, the health of our customers and suppliers, and future demand for our products and services; (2) the 737 MAX, including the timing and conditions of 737 MAX regulatory approvals, lower than planned production rates and/or delivery rates, and increased considerations to customers and suppliers, (3) general conditions in the economy and our industry, including those due to regulatory changes; (4) our reliance on our commercial airline customers; (5) the overall health of our aircraft production system, planned commercial aircraft production rate changes, our commercial development and derivative aircraft programs, and our aircraft being subject to stringent performance and reliability standards; (6) changing budget and appropriation levels and acquisition priorities of the U.S. government; (7) our dependence on U.S. government contracts; (8) our reliance on fixed-price contracts; (9) our reliance on cost-type contracts; (10) uncertainties concerning contracts that include in-orbit incentive payments; (11) our dependence on our subcontractors and suppliers, as well as the availability of raw materials; (12) changes in accounting estimates; (13) changes in the competitive landscape in our markets; (14) our non-U.S. operations, including sales to non-U.S. customers; (15) threats to the security of our or our customers’ information; (16) potential adverse developments in new or pending litigation and/or government investigations; (17) customer and aircraft concentration in our customer financing portfolio; (18) changes in our ability to obtain debt financing on commercially reasonable terms and at competitive rates; (19) realizing the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures; (20) the adequacy of our insurance coverage to cover significant risk exposures; (21) potential business disruptions, including those related to physical security threats, information technology or cyber-attacks, epidemics, sanctions or natural disasters; (22) work stoppages or other labor disruptions; (23) substantial pension and other postretirement benefit obligations; and (24) potential environmental liabilities.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Rolls-Royce is to supply complete MTU propulsion systems for five new Type 31 general-purpose frigates for the Royal Navy. In total, the order comprises of 40 engines and generator sets to be used for main propulsion and on-board power generation, the MTU Callosum propulsion control and monitoring system, and Integrated Logistics Support (ILS). Each new frigate will be powered by four MTU 20V 8000 M71 engines, each delivering over 8,000 kW. On-board power will be provided on each vessel by four MTU generator sets based on 16V 2000 M41B units, each delivering in excess of 900 kW. In September 2021, Rolls-Royce will deliver the first shipset comprising four main propulsion engines and four generator sets to prime contractor Babcock International Group. Integrated Logistics Support for propulsion and onboard power systems will ensure efficient and cost-effective maintenance throughout their entire service life. It is expected that the MTU Callosum propulsion control and monitoring system will be officially added to the supply contract very shortly.
Sean Donaldson, Managing Director for Energy & Marine at Babcock International, said: “We’re delighted to welcome Rolls-Royce with its MTU solutions as a supplier to our Type 31 Programme. Its engines and on-board generator sets are already proving their mettle in numerous comparable vessels worldwide.”
Knut Müller, Vice President Marine & Defense at Rolls-Royce business unit Power Systems, said: “We’re very proud of the fact that Babcock International Group has opted for MTU propulsion and on-board power solutions on this highly significant project. MTU products now feature in almost all current and future projects of the Royal Navy. That is impressive proof of the trust our British partners place in us and of the reliability and flexibility of our products.”
The Royal Navy relies on Rolls-Royce propulsion solutions across its surface and submarine fleets. MTU Series 2000, 4000 and 8000 units will feature in future in most Royal Navy warships – in destroyers (Type 45), all frigate classes (Type 23, 26, 31) and submarines (Astute class).
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).
(Reuters) – The U.S. Federal Aviation Administration says it should have done a better job of ensuring Southwest Airlines Co <LUV> had certified completion of maintenance on 88 used Boeing 737 jets, as noted in a report by the U.S. Transportation Department’s Inspector General released on Tuesday.
Budget-friendly Southwest bought the planes in question between 2013 and 2017 from 16 foreign carriers.
The final report, first seen by Reuters, said Southwest operated more than 150,000 flights carrying 17.2 million passengers on the jets without confirmation that required maintenance had been completed.
The report said the FAA has not “effectively overseen Southwest Airlines’ systems for managing risks” and made 11 recommendations to improve oversight, including retraining inspectors and developing better control over maintenance records and inspector guidance on evaluating air carrier safety culture.
While the U.S. commercial airline industry is considered safe, with only one fatality in recent years, the FAA is under heightened scrutiny by lawmakers over its relationship with the industry after two crashes overseas on the newer Boeing Co <BA> 737 MAX killed 346 people and led to that aircraft’s global grounding.
“Given the significant unresolved safety concerns that FAA has identified at Southwest Airlines, it is clear that the agency is not yet effectively navigating the balance between industry collaboration and managing safety risks at the carrier,” the report said.
The FAA said in a response included with the report it concurred with all 11 recommendations and the inspector general’s conclusion that its office overseeing Southwest did not perform in accordance with existing guidance by allowing the 88 planes to enter service and that it “lacked a comprehensive conformity inspection for used aircraft.”
Southwest told Reuters on Tuesday that eight of the 88 jets remain out of service until needed repairs are completed and that it disagreed with the report’s findings.
The report chided the FAA, saying the agency “accepted the air carrier’s justification that the issues identified were low safety risks.”
The FAA noted it changed the leadership of its office that oversees Southwest and “continues to address deficiencies in the work functions and culture.” The agency has agreed to ensure Southwest “complies with regulatory requirements that the 88 previously owned aircraft conform to U.S. aviation standards.”
Last month, the Wall Street Journal published an article on a draft of the inspector general report.
The report also said the FAA violated its own guidance in addressing noncompliance by Southwest on baggage weight and balance data. The FAA agreed to ensure Southwest complies with requirements.
On Jan. 10, the FAA said it was seeking to impose a $3.92 million fine on Southwest for alleged weight infractions on 21,505 flights on 44 aircraft between May 1, 2018 and Aug. 9, 2018.
Southwest has said it is working with the FAA to demonstrate the effectiveness of its controls and seek a resolution on the proposed penalty.
Southwest shares closed up 0.9% on Tuesday, off intraday highs.
(Reporting by David Shepardson in Washington and Tracy Rucinski in Chicago; Editing by David Gregorio and Matthew Lewis)
Alstom congratulates Transport for New South Wales (TfNSW), on the opening of the CBD and South East Light Rail project and the start of revenue service, returning Light Rail back down Sydney’s George St for the first time in more than 60 years.
Alstom, as part of the ALTRAC Light Rail consortium[1], has been responsible for the integrated light rail system that included the design, delivery and commissioning of 60 Citadis X05 Light Rail Vehicles (LRV), power supply equipment including APS – the wire-free ground-based power supply (over two kilometres), the energy recovery substations – HESOP, signalling, communications, depot equipment and 19 years of maintenance.
The new 12km network has been delivered under a turnkey PPP model that will provide the commuters of Sydney with frequent, reliable, high capacity services running from Circular Quay in the city’s CBD to Central Station, then south east to Randwick. Each LRV has a capacity of 450 passengers – the equivalent of nine standard buses and will move up to 13,500 commuters per hour (6,750 in each direction) during peak times once fully operational. Normal tram services will operate seven days a week between 5am and 1am.
As part of the contract, the consortium has also taken over the operations and maintenance of the existing Inner West Light rail (IWLR) that connects Sydney’s inner west with the Pyrmont peninsula, Darling Harbour and the southern CBD. Alstom is also responsible for the maintenance of the existing system which includes 12 CAF Light Rail Vehicles.
“Alstom is extremely proud to be a part of this iconic project” said Mark Coxon, Managing Director for Alstom in Australia & New Zealand, “This new Light Rail system will transform Sydney and provide a step change in the city’s public transport capability and reliability while protecting the aesthetic appeal of the CBD and improving sustainability of the overall transport network”
[1] Made up of Alstom, Transdev, Acciona and Capella
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