Mexico City, July 8th, 2023.- Viva Aerobus has signed a Memorandum of Understanding (MoU) for 90 Airbus (OTC: EADSY) A321neo aircraft. This is the third order Viva has completed with the European manufacturer, thus maintaining a single fleet of A320 family aircraft. The airline’s order book has now reached 170 Airbus aircraft which provides flexibility to continue growing and renewing its fleet, upholding it as one of the youngest in the Americas.
The A321neo offers unparalleled range and performance. By incorporating new generation engines and Sharklets, the A321neo brings a 50 percent noise reduction, and more than 20 percent fuel savings compared to previous single-aisle generation aircraft, while maximizing passenger comfort with the widest single-aisle cabin and large overhead stowage space.
The GTF engine uses a revolutionary geared fan technology that allows each part of the engine to spin at optimum speed, delivering the highest fuel efficiency and lowest greenhouse gas emissions.
These 90 Airbus A321neo aircraft powered by GTF engines will drive Viva’s domestic and international growth plans. This is particularly important since Mexico is expected to recover the US Federal Aviation Administration’s (FAA) Category 1 rating in the coming months. It is also very relevant given the commercial alliance Viva signed with US carrier Allegiant back in December 2021, which will give more people access to new non-stop air transport between Mexico and the US.
Helvetic Airways of Switzerland received the first of four new E195-E2 aircraft today at the Embraer (NYSE: ERJ) facility in São José dos Campos. Helvetic will receive three further E195-E2’s by the end of next month, July 2021.
Helvetic ordered 12 E-Jet E2’s in 2018 to support its fleet renewal initiative: 8 E190-E2’s (already in service) and four E195-E2’s (converted from the original E190-E2 order). The airline also holds purchase rights for an additional 12 aircraft. The Helvetic fleet also includes four first-generation E190’s. When the three remaining E195-E2’s are delivered, the carrier will have a fleet of 16 E-Jets.
With Embraer, the airline has developed a fleet providing maximum flexibility to deploy its 134-seat E195-E2’s, 110-seat E190-E2’s, and 112-seat E190’s across its European network. Thanks to the common crew type rating for all E-Jets, Helvetic can seamlessly schedule the three different E-Jet models to satisfy variations in demand, maximizing operating economics.
Speaking at the delivery event broadcast to Helvetic employees in Europe, Arjan Meijer, President and CEO of Embraer Commercial Aviation said, “With the new E195-E2, Helvetic builds on its reputation as one of the most environmentally committed airlines in Europe. Not only does the aircraft burn 25% less fuel than its predecessor, its noise footprint is 65% smaller. The E2’s are great news for communities near airports.”
Virgin Australia’s share price dipped below 10 cents on Monday – days after credit rating agency Standard & Poor’s downgraded its outlook to negative.
The drop represents an enormous fall from a high of $2.19 in February 2007. Virgin played down the developments, claiming any speculation of the future of the business was “untrue and misleading”.
Last week, Australian Aviation reported that the wider group announced a $97 million half-year loss and its intention to cut its Tigerair fleet.
Ryanair, Europe’s No.1 airline, today officially launched its major training partnership with Aviomar Flight Academy on Febuary 19th to deliver a Ryanair mentored program in Rome. This partnership will ensure Ryanair continues to attract highly trained professional pilots to support its growth across Europe.
The programme, which commenced in October 2019, gives trainee pilots a structured path to achieve an exceptional training course and reach a standard where they are ready to join the Ryanair Boeing 737 Type Rating programme.
Pilots on the programme will be trained by Aviomar Flight Academy instructors, using Ryanair procedures, as they take their first steps towards becoming Ryanair pilots. Over the course of the next 4/5 years, up to 400 new pilots from across Europe will be recruited and trained by Aviomar Flight Academy, underlining its respected position in the pilot training market. Newly trained pilots who commence their ab-initio training now will start their careers with Ryanair from early 2022.
Ryanair offers unparalleled career opportunities for new pilots, with:
82 bases
Industry leading training standards and success rates
The best rosters in European aviation – 5 days on, followed by 4 days off
WASHINGTON (Reuters) – U.S. President Donald Trump called Boeing <BA> Chief Executive Dennis Muilenburg this week to ask about the status of 737 MAX production, two people briefed on the matter confirmed.
The call on Sunday was brief and Muilenburg assured Trump that the planned production halt was temporary and that the company would not be laying off any workers. The production halt, set to begin in January, was announced by Boeing Monday after a board meeting.
Boeing and the White House declined to comment on the call, reported earlier by the New York Times.
Separately, S&P Global Ratings on Thursday downgraded Boeing’s credit rating to “A-” from “A” and lowered the short-term rating to “A-2” from “A-1.”
The change “reflects the uncertainty over when the 737 MAX will return to service, the risk to the supply chain from the planned production halt, and possible long-term impact to Boeing’s competitive position.”
U.S. officials have repeatedly said they are waiting for additional answers from Boeing and have at time faulted the quality of submissions from the planemaker since the plane was grounded in March after two fatal crashes killed 346 people.
“We’ve had conversations about the importance of making sure that we are looking at complete documentation and not piecemeal documentation,” FAA Administrator Steve Dickson told Reuters in September. “It’s really better to be very methodical and very detailed rather than try to rush a partially completed product and then say, ‘We’ll get back to you with the rest of it.’”
Boeing has repeatedly said it is working with regulators to safely return the plane to service and acknowledged last week it would not occur until 2020.
Dickson said last week there are nearly a dozen milestones that must be completed before the MAX returns to service. Approval is not likely until at least February and could be delayed until March, U.S. officials told Reuters last week.
American Airlines Group Inc <AAL> and Southwest Airlines Co <LUV> have canceled flights into April because of the grounding.
(Reporting by David Shepardson; Editing by Nick Zieminski)
DUBLIN, Nov. 25, 2019 /PRNewswire/ — Fly Leasing Limited (FLY) (“FLY”), a global leader in aircraft leasing, today announced it has repriced its $385 million Term Loan. The interest rate on the amended loan is LIBOR plus 1.75%, a 0.25% margin reduction. Additionally, the maturity has been extended by more than two years from February 2023 to August 2025. In conjunction with the extension, FLY paid a one-time fee of 0.25% OID to the lenders.
“FLY’s strong upward trajectory, combined with its significant deleveraging and recent Standard & Poor’s rating upgrade, created the momentum for the successful repricing of FLY’s largest debt facility. We anticipate annual cash interest savings of nearly $1 million,” said Colm Barrington, CEO of FLY. “We remain committed to reducing our borrowing costs while opportunistically extending debt maturities. FLY will continue to explore other opportunities to optimize its balance sheet and create value.”
Bamboo Airways is a new Vietnamese airline that commenced operations at the beginning of 2019. The airline currently has a fleet of about 10 Airbus A320 family aircraft, and has a further 76 planes on order, including 46 A321neo’s and 30 787-9’s.
SAN FRANCISCO (Reuters) – Tesla shares extended their recent sell-off on Wednesday after Citi cut its price target on the struggling electric car maker, leaving buyers of its recent share offer, including Chief Executive Elon Musk, $175 million in the hole.
Tesla’s stock dropped 5.5% to $193.88, on track to close below $200 for the first time since late 2016. It has lost a fifth of its value since the company sold a $1.84 billion convertible bond and almost $900 million of stock on May 2 to raise fresh capital and give it more time to stop losing money.
Citi analyst Itay Michaeli, who has a “sell” rating on Tesla, cut his price target to $191 from $238. He pointed to a an email Musk sent to employees last week, telling them he would increase cost-cutting, and that the $2.7 billion in recently raised capital would give Tesla just 10 months to break even at the rate it burned cash in the first quarter.
“The recent reported internal memo, which seemingly called into question prior guidance, didn’t help the risk/reward calculus. The implications can be serious, since an automaker’s balance sheet is always subject to the confidence ‘spiral’ risk,” Michaeli wrote in a client note.
Consumer Reports warned on Wednesday that a recent update to Tesla’s Autopilot driver assistance software does not work well and could be unsafe.
“It doesn’t appear to react to brake lights or turn signals, it can’t anticipate what other drivers will do, and as a result, you constantly have to be one step ahead of it,” Jake Fisher, Consumer Reports’ senior director of auto testing, said in a news release.
Tesla did not immediately respond to a request for comment. On April 22, Musk told investors that driverless Tesla “robotaxis” would be available in some U.S. markets next year, a claim met by skepticism by some self-driving experts.
UPPING HIS STAKE
Musk is battling to convince investors that demand remains high for the Model 3, the sedan targeted to propel Tesla to sustainable profit, and that it can be delivered efficiently and swiftly to customers around the world. Tesla lost $702 million in the first quarter and warned that profit would be delayed until the latter half of the year.
On Monday, Musk exercised options to buy 175,000 Tesla shares at $31.17 per share, increasing his indirect stake in the company to 34,102,560 shares, according to a filing. With Tesla’s stock down 41% year to date, Musk’s shares, including 102,880 he bought in this month’s capital raise, were worth $6.6 billion on Wednesday.
Tesla’s debt has stalled at lows hit earlier this week. Its recently issued convertible bond due in 2024 priced at 89.09 cents on the dollar, a record low. Its $1.8 billion junk bond traded at 82.5 cents on the dollar, slightly up from the all-time lows it hit on Monday and Tuesday.
The cost to insure Tesla’s debt, as measured by its credit default swap, edged up to roughly 28% of the face value of Tesla’s 2025 bond, from 27.6 % the day before.
(Reporting by Noel Randewich; additional reporting by Kate Duguid in New York and Vibhuti Sharma in Bengalaru; editing by Nick Zieminski and Jonathan Oatis)
Fiji Airways has adopted the A350 XWB as part of its expansion plans to broaden its international network. Two A350-900s will be leased from Dubai-based DAE Capital, making Fiji Airways the newest operator and DAE Capital the latest customer.
With its common type rating with the A330 Family, the A350 XWB was the natural aircraft choice to seamlessly join the airline’s existing fleet of four A330s. The common rating between the A350 XWB and A330 means that pilots who are qualified and current on the A330 can already commence preparations to take the A350 XWB’s controls by undergoing “differences training” only, meaning a significant cost savings and operational flexibility.
The aircraft will be configured with 33 full lie-flat Business Class and 301 Economy Class seats. The aircraft will be deployed to enhance existing long-haul services between Fiji, Australia and the U.S., and to provide the opportunity to open additional routes.
The A350 XWB is the world’s most modern and eco-efficient aircraft family shaping the future of air travel. It is the long-range leader in the large widebody market (300 to 400+ seats). The A350 XWB offers by design unrivalled operational flexibility and efficiency for all market segments up to ultra-long haul (9,700 nm). It features the latest aerodynamic design, carbon fibre fuselage and wings, plus new fuel-efficient Rolls-Royce engines. Together, these latest technologies translate into unrivalled levels of operational efficiency, with a 25% reduction in fuel burn and emissions. The A350 XWB’s Airspace by Airbus cabin is the quietest of any twin-aisle and offers passengers and crews the most modern in-flight products for the most comfortable flying experience. At the end of March 2019, the A350 XWB Family had received 890 firm orders from 50 customers worldwide, making it one of the most successful widebody aircraft ever.
