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Elbit Systems to Acquire Harris Night Vision Business

April 8, 2019 / WIL BALDWIN

HAIFA, Israel, April 5, 2019 /PRNewswire/ — Elbit Systems Ltd. (ESLT) (ESLT) (“Elbit Systems”) announced today that its U.S. subsidiary, Elbit Systems of America, LLC (“Elbit Systems of America”), has signed a definitive agreement with Harris Corporation (HRS) (“Harris”) for the acquisition of Harris’ Night Vision business (“Harris Night Vision”) for a purchase price of $350 million.

The transaction is conditioned on completion of Harris’ proposed merger with L3 Technologies, Inc. (LLL), as well as customary closing conditions, including receipt of regulatory approvals.

Headquartered in Roanoke, Virginia, Harris Night Vision is a premier developer, producer and supplier of night vision technology for the U.S. and allied military and security forces and for the federal homeland security market.

Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S. Elbit Systems of America has a proven track record of providing high performance solutions and support services to the U.S. defense and homeland security markets. We believe that the completion of this acquisition will be beneficial both for Elbit Systems and for Harris Night Vision’s employees and customers.”

About Harris Corporation

Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems. Learn more at harris.com.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land, and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

Studio ORD Selected to Design New O’Hare Terminal

April 2, 2019 / WIL BALDWIN

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.

Click the link below for the full story! https://www.internationalairportreview.com/news/83778/studio-ord-design-chicago-terminal/

Garuda Indonesia Plans to Cancel Boeing 737 MAX 8 Order

March 22, 2019 / WIL BALDWIN

JAKARTA/OSLO (Reuters) – Indonesian airline Garuda plans to cancel a $6 billion order for Boeing 737 MAX jets, it said on Friday, saying some passengers would be frightened to board the plane after two fatal crashes, although analysts said the deal had long been in doubt.

The news came as another 737 MAX customer, Norwegian Air, played down the significance of a move by Boeing to make a previously optional cockpit warning light compulsory.

Norwegian said that, according to Boeing, the warning light would not have been able to prevent erroneous signals that Lion Air pilots received before their new 737 MAX plane crashed off Indonesia in October, killing 189 people.

Indonesia’s national carrier Garuda is the first airline to publicly announce plans to scrap an order since the world’s entire fleet of 737 MAX planes was grounded last week, following an Ethiopian Airlines crash that left 157 people dead.

“Many passengers told us they were afraid to get on a MAX 8,” Garuda CEO Ari Askhara told Reuters on Friday.

However, the airline had been reconsidering its order for 49 of the narrowbody jets prior to the Ethiopian crash, including potentially swapping some for widebody Boeing models.

Southeast Asia faces a glut of narrowbody aircraft like the 737 MAX and rival Airbus A320neo at a time of slowing global economic growth and high fuel costs.

“They have been re-looking at their fleet plan anyway so this is an opportunity to make some changes that otherwise may be difficult to do,” CAPA Centre for Aviation Chief Analyst Brendan Sobie said.

Indonesia’s Lion Air has also said it might cancel 737 MAX aircraft, though industry sources say it is also struggling to absorb the number of planes on order.

Both crashes are still being investigated. But regulators have noted some similarities between the two, and attention has focused on whether pilots had the correct information about the “angle of attack” at which the wing slices through the air.

No direct link has been proven between the accidents.

RETROFITS

Boeing now plans to make compulsory a light to alert pilots when sensor readings of the angle of attack do not match – meaning at least one must be wrong -, according to two officials briefed on the matter.

Investigators suspect a faulty angle-of-attack reading led the doomed Lion Air jet’s computer to believe it had stalled, prompting the plane’s anti-stall system, called MCAS, repeatedly to push the plane’s nose down.

The Lion Air plane did not have the warning light installed because it was not compulsory. Ethiopian Airlines did not immediately comment on whether its crashed plane had the alert.

But the Ethiopian carrier, whose reputation along with Boeing’s is at stake, issued a statement on Friday emphasising the modernity of its safety and training systems, with more than $500 million invested in infrastructure in the past five years.

The Ethiopian crash has set off one of the widest inquiries in aviation history and cast a shadow over the Boeing 737 MAX model intended to be a standard for decades.

Boeing did not comment on the plan to make the safety feature standard, but separately said it was moving quickly to make software changes and expected the upgrade to be approved by the U.S. Federal Aviation Administration (FAA) in coming weeks.

Chicago-based Boeing will also retrofit older planes with the cockpit warning light, the officials told Reuters.

Experts said it could take weeks or months to be done, and for regulators to review and approve the changes. Regulators in Europe and Canada have said they will conduct their own reviews of any new systems.

Norwegian said its 18 737 MAX jets did not have the cockpit warning light, but it would follow any recommendations made by Boeing and aviation regulations. The airline said last week it would seek compensation from Boeing for the cost of grounding its 737 MAX planes, which makes up 11 percent of its fleet.

Since the Ethiopian crash, Boeing shares have fallen 12 percent and $28 billion has been wiped off its market value.

Pressure has mounted on the company from U.S. legislators, who are also expected to question the FAA. The company faces a criminal investigation by the U.S. Justice Department as well.

Several lawsuits have already been filed on behalf of victims of the Lion Air crash referring to the Ethiopian accident. Boeing declined to comment on the lawsuits.

( By Cindy Silviana and Terje Solsvik, Additional reporting by Jamie Freed in Singapore, Bernadette Christina Munthe in Jakarta, Maggie Fick and Jason Neely in Addis Ababa, Tim Hepher in Paris, and Eric M. Johnson in Seattle; Writing by Sayantani Ghosh, Georgina Prodhan and Ben Klayman; Editing by Mark Potter)

Embraer Announces CEO Succession

March 20, 2019 / WIL BALDWIN

Paulo Cesar de Souza e Silva concludes his tenure at the end of April and will support the transition process of the company as Senior Advisor of the Board of Directors.

São Paulo, Brazil, March 18, 2019 – Embraer, following shareholder approval of the transaction with Boeing, announces that the current President and CEO of the company, Paulo Cesar de Souza e Silva, concludes a successful professional cycle with the company on April 22, 2019 which is the end of his current two year elected term.

“Paulo Cesar idealized the partnership with Boeing and led the negotiation process of the transaction that will bring Embraer and Brazil to a much more competitive and prominent level in the global aviation industry,” said Alexandre Silva, Chairman of the Board.

For 22 years at Embraer, Paulo Cesar came from the financial market to structure the company’s sales financing area. For six years he was President and CEO of Commercial Aviation and in 2013 launched the E2 Program, the medium-sized commercial jets considered today to be the most efficient in the market.

In 2016, Paulo Cesar became President and CEO of the Embraer Group, with a mission to make the company more efficient, competitive and better prepared to face structural changes in the global aviation market.

His administration established three key initiatives focused on value creation and the sustainability of the company. The first was the transaction with Boeing. The second was the creation of the Passion for Excellence program, a structural transformation project focused on reducing costs and increasing operational efficiency, generating significant annual recurring savings. The third was the creation of EmbraerX, responsible for disruptive innovation and the development of opportunities for the future, such as eVTOL (electric vertical take-off and landing vehicle), a project that will revolutionize urban transport in partnership with Uber.

“Without the support of the Board and Embraer’s 18,000 employees and colleagues, none of our achievements would have been possible”, noted Paulo Cesar. “We are challenged to remain at the forefront of engineering and operations. In Executive Aviation and Defense, and with the KC 390 joint venture with Boeing, we will expand our international competitiveness and everything indicates that we will have another 50 years of success ahead.” And he added: “I am sure that the new leadership of the company will find fertile ground ahead to expand and consolidate Embraer.”

Paulo Cesar was invited to be a Senior Advisor to the Board, with the task of facilitating the integration of the future President and CEO and advising the Board on the monitoring of assets and resources segregation, an integral part of the process of concluding the partnership with Boeing. As it was reported, 96.8% of Embraer’s shareholders approved an agreement with the North American company last February, which should be concluded after obtaining all approvals of the Regulatory and Competitive Agencies in Brazil and abroad.

Embraer also informs that the future President and CEO, to be elected for the next term, will be recruited externally and announced on or before the Ordinary General Assembly on April 22nd.

About Embraer

Embraer is a global company headquartered in Brazil with businesses in commercial and executive aviation, defense & security. The company designs, develops, manufactures and markets aircraft and systems, providing customer support and services. Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. About every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.

Embraer is the leading manufacturer of commercial jets up to 150 seats. The company maintains industrial units, offices, service and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.

Boeing CFO Greg Smith (left), Boeing CEO Dennis Muilenburg (center), and Embraer CEO Paulo Cesar Silva

Story and images from http://www.embraer.com

CP and Hapag-Lloyd Renew Long-Term Agreement

January 25, 2019 / WIL BALDWIN

Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) and Hapag-Lloyd AG (XETR: HLAG) (FWB : HLG) today announced an extension of their long-term agreement to the benefit of the international supply chain, the movement of cargo through the ports of Montreal and Vancouver, and the overall North American economy.

“We are incredibly proud to continue to work with Hapag-Lloyd,” said Keith Creel, CP President and CEO. “This long-term agreement is built on service, reliability and trust. On behalf of the 13,000-strong CP family, particularly those on the ground who ensure we provide exceptional service, we are excited to continue to work closely with Hapag-Lloyd as their preferred rail carrier in Canada.”

In close collaboration, the two companies have built a track record of reliable service on sea and on land for their customers.

“Customers expect reliable supply chains, and in CP we have found a company that delivers consistently, every day,” said Rolf Habben Jansen, CEO of Hapag-Lloyd. “With CP we are able to handle more cargo and take advantage of shorter routes to key markets, and provide long-term value to our customers.”

The agreement will allow Hapag-Lloyd’s customers to benefit from CP’s growing network of transload facilities, its innovative live-lift operation at Portal, North Dakota, and the fastest transit times between Vancouver and the Twin Cities, Chicago and beyond.

From Vancouver and Montreal, CP connects its customers to markets across Canada and the United States. CP’s intermodal franchise has the lowest on-dock dwell and best on-time performance at the Port of Vancouver and Port of Montreal, ensuring faster end-to-end transits for shippers.

Note on forward-looking information

This news release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as “financial expectations”, “key assumptions”, “anticipate”, “believe”, “expect”, “plan”, “will”, “outlook”, “should” or similar words suggesting future outcomes. This news release contains forward-looking information relating, but not limited to, the success of our business, our operations, priorities and plans, as well as anticipated financial and operational performance, including with respect to CP’s network of transload facilities and anticipated increases in cargo service.

Story and images from http://www.cpr.ca

Boeing Delivers First 737 MAX for Cayman & Fiji Airways

December 3, 2018 / WIL BALDWIN

SEATTLE, Nov. 29, 2018 /PRNewswire/ — Boeing [NYSE: BA] and Air Lease Corp. [NYSE: AL; “ALC”] today delivered the first 737 MAX 8 for Cayman Airways. The first 737 MAX to enter service in the Caribbean marks the beginning of the airline’s plans to modernize its fleet and expand its network.

“Cayman Airways is able to achieve the highest levels of efficiency with the 737 MAX 8, along with unparalleled levels of reliability and comfort,” said Cayman Airways President and CEO Fabian Whorms. “In addition, the MAX’s incredible range opens up the potential for several new markets within the Americas.”

Cayman Airways plans to take delivery of four MAX 8 airplanes to replace its fleet of 737 Classics.

Compared to the 737-300, the MAX 8 offers 30 percent greater seat capacity, and a more than 30 percent improvement in fuel efficiency per seat. The MAX achieves the higher levels of performance with the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, and other airframe enhancements.

“ALC is pleased to announce this new Boeing 737 MAX 8 delivery with Cayman Airways today,” said Steven F. Udvar-Hἁzy, Executive Chairman of Air Lease Corporation. “With this new MAX 8 and the additional three aircraft set to deliver from ALC, Cayman Airways is successfully modernizing its fleet with the most technologically advanced, fuel-efficient aircraft to enhance the airline’s overall operations, maximize customer comfort and bring a new standard of excellence for travelers to and from the Cayman Islands.”

“We are delighted to open a new chapter in our partnership with Cayman Airways and ALC, and bring the 737 MAX to the Caribbean,” said Ihssane Mounir, senior vice president of Commercial Sales & Marketing for The Boeing Company. “The 737 MAX will help Cayman achieve significant improvement in performance and operating costs, while providing an even better flying experience for their passengers.”

To prepare for their new 737 MAX, Cayman Airways will train pilots at Boeing Global Services’ Miami training campus. Under this agreement, Cayman will use Boeing simulators for its entire 737 fleet including 737 Classics and Next-Generation 737s.

The 737 MAX family is the fastest-selling airplane in Boeing history, accumulating about 4,800 orders from more than 100 customers worldwide. Boeing has delivered more than 200 737 MAX airplanes since May 2017.

Story from www.boeing.com Image from www.caymanairways.com

SEATTLE, Nov. 30, 2018 /PRNewswire/ — Boeing [NYSE: BA] delivered the first 737 MAX for Fiji Airways, which plans to use the fuel-efficient, longer-range version of the popular 737 jet to expand and modernize its single-aisle fleet.

“We are thrilled to take delivery of our very first 737 MAX 8, named Island of Kadavu,” said Andre Viljoen, Managing Director and CEO of Fiji Airways. “The introduction of the 737 MAX is the beginning of a new chapter for Fiji Airways and we look forward to taking advantage of the airplane’s superior performance and economics. These new airplanes will enable us to offer a world-class customer experience through the new Boeing Sky Interior cabins with in-seat entertainment for all guests.”

Fiji Airways plans to take delivery of five MAX 8 airplanes, which will build on the success of its fleet of Next-Generations 737s. The MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, and other airframe enhancements to improve performance and reduce operating costs.

Compared to the previous 737 model, the MAX 8 can fly 600 nautical miles farther, while providing 14 percent better fuel efficiency. The MAX 8 can seat up to 178 passengers in a standard two-class configuration and fly 3,550 nautical miles (6,570 kilometers).

“We are delighted to welcome Fiji Airways to the MAX family of operators and we are thrilled they will be the first 737 MAX operator in the Pacific Islands,” said Ihssane Mounir, senior vice president of Commercial Sales & Marketing for The Boeing Company. “We are honored by their continued partnership and confidence in Boeing products. The market-leading efficiency of the MAX will pay immediate dividends for Fiji Airways and will help them improve their operation and route network.”

Based at Nadi International Airport, Fiji Airways serves 13 countries and 31 destinations/cities including Fiji, Australia, New Zealand, Samoa, Tonga, Tuvalu, Kiribati, Vanuatu and Solomon Islands (Oceania), the United States, Hong Kong, Japan and Singapore. It also has an extended network of 108 international destinations through its codeshare partners.

In addition to modernizing its fleet, Fiji Airways will use Boeing Global Services to enhance its operations. These services include Airplane Health Management, which generates real-time, predictive service alerts, and Software Distribution Tools, which empowers airlines to securely manage digital ground-based data and efficiently manage software parts.

Story from www.boeing.com Image from www.fijisun.com.fj