Tag: recovery (Page 1 of 5)

Alstom to build two infrastructure sections on Florence tramway Line 4

January 12, 2024 / WIL BALDWIN

January 12, 2024 – Alstom SA (Paris: ALSO), a global leader in smart and sustainable mobility, has been awarded a contract by the Municipality of Florence, valued at € 50 million for the construction of track, catenary, substations, and lighting system for Line 4.2 of the city’s tram system, with an option for Line 4.1, worth €49 million.

The tender was awarded to a temporary consortium of companies composed by the mandated company CMB together with Alstom, Hitachi Rail and ComNet, and covers operations spanning across a distance of 5.3 kilometres (11 stops) of Line 4.2 Campi Bisenzio-Piagge. The Line 4.2 will connect Le Piagge station to San Donnino and from there to the centre of Campi Bisenzio.

The contract includes an option, for the second lot, which will cover the 6.3 kilometres of Line 4.1 Piagge-Leopolda (13 stops) will connect Line 4.2 with the city centre.

The project is financed by National Recovery and Resilience Plan funds.

The works will be carried out by the System & Infrastructure team in Rome and the components for the electric traction will be designed and supplied by the Alstom site in Valmadrera, Lecco.

Forward-Looking Statements

This press release may 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.

KiwiRail re-opens rail line to Napier in cyclone Gabrielle recovery milestone

September 18, 2023 / WIL BALDWIN

The reopening of the rail line to Napier – allowing rail freight to once again get to Napier Port – is an important step for the Hawke’s Bay cyclone recovery, KiwiRail Chief Executive Peter Reidy says. Scheduled freight services resumed Monday, September 18, following a seven month pause after the rail line was badly damaged by Cyclone Gabrielle.

Cargo that is typically carried by rail includes chilled and frozen meat, wood products such as logs, pulp and timber, food products and imported machinery and consumables used in manufacturing. Following the cyclone in February, KiwiRail reopened the Palmerston North – Gisborne Line to Hastings at the start of April. Temporary Container Terminal sites were also set up in partnership with Napier Port, transport operators and cargo customers so that freight could be railed to Hastings, then trucked to Napier.

The section of line between Hastings and Napier, particularly around Awatoto, was badly damaged in the cyclone, with track and embankments washed away, and major damage to Bridge 217, which lost piers and spans in the floods. The work included rebuilding two-metre-high embankments, replacing 800 sleepers, 140 metres of rail, laying 3,000 cubic metres of formation (the rock foundation under the tracks) and 3,500 tonnes of ballast.

KiwiRail also railed steel casings to Hastings from Christchurch for replacement bridge piers on Bridge 217 – which have been driven 30 metres into the riverbed. The rebuild of Bridge 217 is temporary, in order to get rail freight moving as quickly as possible. A permanent new bridge will be designed and built over the next couple of years.

Stadler wins ATM’s new tram order for Milan, Italy

July 5, 2023 / WIL BALDWIN

Stadler and Azienda Transporti Milanesi S.p.A. (ATM) have signed another framework agreement for the supply of up to 50 TRAMLINK trams for the city of Milan. In a first call-off, ATM has ordered 14 high-capacity vehicles that will be financed with the PNRR (National Recovery and Resilience Plan) fund. The fourteen vehicles will be delivered before 30 June 2026.

The medium-capacity TRAMLINKs are similar to the tramways to be delivered under the framework agreement signed in 2020 and that Stadler is currently manufacturing. They have three modules and are about 25 m long. ATM has already ordered 60 out of the 80 vehicles covered by this framework agreement. The first unit arrived in Milan on 1 December 2022 and, currently, is performing tests on the city’s tram network.

The high-capacity version of the TRAMLINKs is based on the above but features five modules and a length of 35 m. They are bi-directional and have an attractive open interior equipped with two specific areas for wheelchair users. The barrier-free low floor and four doors per side allow passengers to board and alight easily and quickly thus reducing stopping time. In addition, the innovative bogies allow the trams to run smoothly in the narrow curves. This significantly reduces noise to the benefit of passengers and residents.

Particular attention has been paid to the safety of passengers, drivers and pedestrians. The ergonomically designed driver’s cab maximizes the driver’s visibility. Additionally, the TRAMLINK is equipped with an anti- collision device that can intervene when it detects a potential collision situation with pedestrians, cars or other obstacles. No blind spot cameras guarantee the security throughout the whole vehicle. The excellent dynamics as well as the high levels of safety and comfort improve the travel experience.

ITA Airways Firms Up Order for 28 Airbus Aircraft

December 1, 2021 / WIL BALDWIN

Toulouse, France, 1st December 2021 – ITA Airways, Italy’s new national carrier, has firmed up an order with Airbus (OTC: EADSY) for 28 aircraft, including seven A220’s, 11 A320neo’s, and 10 A330neo’s, the latest version of the most popular A330 widebody airliner. The order confirms the Memorandum of Understanding announced on 30th September 2021. In addition, the airline will pursue its plans to lease A350s to complement its fleet modernization.

These new Airbus aircraft will expand the initial ITA Airways fleet with a new generation aircraft with better environmental performance, equipped with latest technologies and state-of-the-art cabins to guarantee maximum operational efficiencies for the airline and the best comfort to travelers.

The A220 is the only aircraft purpose-built for the 100-150 seat market and brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation geared turbofan engines. With a range of up to 3,450 nm (6,390 km), the A220 gives airlines added operational flexibility. The A220 delivers up to 25% lower fuel burn and CO2 emissions per seat compared to previous generation aircraft, and 50% lower NOx emissions than industry standards. In addition, the aircraft noise footprint is reduced by 50% compared to previous generation aircraft – making the A220 a good neighbour around airports.

The Airbus A330neo is a true new-generation aircraft, building on features popular for the A330 Family and developed for the latest technology A350. Equipped with a compelling Airspace cabin, the A330neo offers a unique passenger experience with the latest-generation in-flight entertainment systems and connectivity. Powered by the latest Rolls-Royce Trent 7000 engines, and featuring a new wing with increased span and A350-inspired winglets, the A330neo also provides an unprecedented level of efficiency – with 25% lower fuel-burn per seat than previous-generation competitors. Thanks to its tailored mid-sized capacity and its excellent range versatility, the A330neo is considered the ideal aircraft to support operators in their post-COVID-19 recovery.

SWISS Reports Marginally Positive Earnings for Third Quarter Quarter

November 4, 2021 / WIL BALDWIN

The coronavirus pandemic depressed earnings at Swiss International Air Lines (SWISS) in the first nine months of 2021, too. Following an extremely challenging winter period, however, spring 2021 saw a slight recovery in demand which then strengthened in the summer months.

Marginally positive Adjusted EBIT for the seasonally strong third quarter

SWISS witnessed a significant increase in air travel in the traditionally strongest third-quarter period which, thanks to a certain catch-up effect, extended into autumn. The company was able to raise its summer-months capacities to 55 per cent of their pre-crisis levels, and was able to sell the additional production, too. Third-quarter revenue rose by 91.0 per cent as a result, from the CHF 370.5 million of 2020 to CHF 707.8 million. The combination of higher production and sizeable cost reductions enabled SWISS to report an Adjusted EBIT of CHF 6.7 million for the period (Q3 2020: CHF -148.3 million). The positive third-quarter earnings reduced the operating loss for the first nine months of the year to CHF -391 million (Q1-3 2020: CHF -415 million), even though the first two months of 2020 had been unaffected by the coming crisis. Total revenue for the first nine months of 2021 was some 11 per cent down on the prior-year period at CHF 1.37 billion (Q1-3 2020: CHF 1.54 billion). Very strong demand on the cargo front continued to partially make up for the weak passenger business.

“We are delighted to have achieved a marginally positive earnings result for the third quarter of this year,” says SWISS CFO Markus Binkert. “We were able to both sell our increased capacities and further lower our costs over the summer months. But our third-quarter earnings result is still substantially below its pre-crisis levels.” For seasonal reasons, SWISS will be unable to emulate these positive quarterly earnings in the current fourth-quarter period, and the company expects to report a substantially negative earnings result for 2021 as a whole.

Restructuring measures initiated are having their effect

The actions taken under the ‘reach’ strategic restructuring programme to achieve recurring savings of some CHF 500 million are progressing according to plan. Five Airbus A330s have been temporarily stored to downsize the long-haul aircraft fleet. A reduction should also be effected in the short-haul fleet by withdrawing older aircraft of the Airbus A320 family earlier than planned and deferring deliveries of new Airbus A320neo family aircraft. The number of aircraft of other airlines operating SWISS services on SWISS’s behalf under wet-lease agreements should also be reduced. Two further new Airbus A320neo aircraft will be delivered to SWISS this year.

SWISS’s liquidity also continues to steadily improve. The company now expects to utilize no more than half of its bank credit facility, and is also confident of repaying such loans ahead of their maturity. “The actions we have taken under our restructuring are having their effect, and we are on track to overcome the crisis. With the revival in air travel worldwide, which has been further boosted by the announcement that the USA is opening up again, we now expect to be able to raise our capacities next year to at least 70 per cent of their pre-crisis levels,” says CFO Markus Binkert.

Strong passenger growth in the summer months

SWISS registered increases in its passenger numbers of 88.3 per cent for July, 123.7 per cent for August and 204.6 per cent for September 2021 compared to their prior-year periods. Systemwide seat load factor for the third-quarter period amounted to 66.4 per cent, on capacity that was at 55 per cent of its pre-crisis level. Seat load factors on SWISS’s European network remained higher than those on its intercontinental routes, though the latter were still a substantial improvement on their 2020 levels.

SWISS¹transported 3.7 million passengers in the first nine months of 2021, some 15.2 per cent²fewer than it had carried in the same period last year. A total of 35,264 flights were performed in the period, 14.6 per cent fewer than in January-to-September 2020. Nine-month systemwide capacity was 3.4 per cent down in available seat-kilometre (ASK) terms, while total traffic volume, measured in revenue passenger-kilometres (RPKs), saw a 23.7-per-cent decline. Nine-month systemwide seat load factor stood at 50.7 per cent, 13.5 percentage points below its prior-year level.

For the fourth quarter of 2021 SWISS will continue to offer more than 50 per cent of its pre-crisis capacities and thereby maintain a flight programme that is as stable and reliable as possible. Some 90 destinations are served from Zurich and Geneva in the current winter schedules – broadly the same number of points that were served before the present crisis, but with fewer frequencies. The aircraft providing these services also include three long-haul Boeing 777s which were temporarily converted to operate cargo-only flights in response to the pandemic, but which have now been converted back for regular passenger use.

¹Excluding Edelweiss Air

²In line with the provisions and practice of the Lufthansa Group, SWISS has modified the definitions used in its traffic volume reporting, with retroactive effect to 1 January 2021. This is also reflected in the corresponding year-on-year comparisons.

Virgin Australia Resumes Service Between Hobart and Perth

October 30, 2021 / WIL BALDWIN

Virgin Australia continues to expand its domestic network in time for summer, with the airline today kicking off its services between Hobart and Perth.

Flights between the two cities will operate three times per week, allowing for up to 4,200 passengers to travel each month.

The news follows last week’s commencement of services between Hobart and Adelaide which is now operating four times per week and allowing up to 5,600 additional passengers to fly each month.

Virgin Australia experienced a 90 per cent increase in Tasmanian bookings compared to the previous week after the announcement of new services to the Apple Isle and the Tasmanian Government’s release of a recovery roadmap.

Since September Virgin Australia has added 12 additional domestic routes to its network and is scheduled to resume flights to Fiji in December, followed by Bali and New Zealand from early next year.

Re-introduced services

ROUTE	FREQUENCY	SEATS PER MONTH	COMMENCEMENT DATE
Hobart – Perth / Perth – Hobart (Seasonal service only)	3 services per week(Monday, Friday, Sunday)	4,200	29 October 2021

New services

ROUTE	FREQUENCY	SEATS PER MONTH	COMMENCEMENT DATE
Hobart – Adelaide / Adelaide – Hobart	4 services per week(Monday, Wednesday, Friday, Sunday)	5,600	20 October 2021

Airbus Reports Third Quarter 2021 Results

October 28, 2021 / WIL BALDWIN

Amsterdam, 28 October 2021 – Airbus SE (Paris stock exchange symbol: AIR) reported consolidated financial results for the nine months ended 30 September 2021.

“The nine-month results reflect a strong performance across the company as well as our efforts on cost containment and competitiveness. As the global recovery continues, we are closely monitoring potential risks to our industry. We are focused on securing the A320 Family ramp up and striving to ensure the right industrial and supply chain capabilities are in place,” said Airbus Chief Executive Officer Guillaume Faury. “Based on our nine-month performance, we have updated our 2021 earnings and cash guidance. We are strengthening the balance sheet to secure investment for our long-term ambitions.

Gross commercial aircraft orders totalled 270 (9m 2020: 370 aircraft) with net orders of 133 aircraft after cancellations (9m 2020: 300 aircraft). The order backlog was 6,894 commercial aircraft on 30 September 2021. Airbus Helicopters booked 185 net orders (9m 2020: 143 units), including 10 helicopters of the Super Puma Family. Airbus Defence and Space’s order intake by value was € 10.1 billion (9m 2020: € 8.2 billion) with third quarter orders including 56 C295 aircraft for India, two A400Ms for Kazakhstan and support and spares contract renewals for the German and Spanish Eurofighter fleets.

Consolidated revenues increased 17 percent to € 35.2 billion (9m 2020: € 30.2 billion), mainly reflecting the higher number of commercial aircraft deliveries compared to 9m 2020. A total of 424 commercial aircraft were delivered (9m 2020: 341 aircraft), comprising 34 A220s, 341 A320 Family, 11 A330s(1), 36 A350s and 2 A380s. Revenues generated by Airbus’ commercial aircraft activities increased 21 percent, largely reflecting the delivery performance compared to 2020 which was strongly impacted by COVID-19. Airbus Helicopters delivered 194 units (9m 2020: 169 units) with revenues up 14 percent reflecting growth in services as well as the higher deliveries, notably more helicopters from the Super Puma family. Revenues at Airbus Defence and Space were broadly stable year-on-year with four A400M military airlifters delivered in 9m 2021.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – was € 3,369 million (9m 2020: € -125 million).

The EBIT Adjusted related to Airbus’ commercial aircraft activities totalled € 2,739 million (9m 2020: € -641 million), mainly driven by the operational performance linked to deliveries and efforts on cost containment and competitiveness.

The A220 production rate, which is currently at 5 aircraft a month, is expected to increase to around rate 6 per month in early 2022, with a monthly production rate of 14 envisaged by the middle of the decade. On the A320 Family programme, the Company is working to secure the ramp up and is on trajectory to achieve a monthly rate of 65 aircraft by summer 2023. The recent commercial successes of the A330 programme enable a monthly rate increase from around 2 to almost 3 aircraft at the end of 2022. The A350 programme is expected to increase from around 5 to around 6 aircraft a month in early 2023.

Airbus Helicopters’ EBIT Adjusted increased to € 314 million (9m 2020: € 238 million), driven by services, programme execution and lower spending on Research & Development (R&D).

EBIT Adjusted at Airbus Defence and Space increased to € 284 million (9m 2020: € 266 million), mainly reflecting the Division’s efforts on cost containment and competitiveness.

Consolidated self-financed R&D expenses totalled € 1,919 million (9m 2020: € 2,032 million).

Consolidated EBIT (reported) amounted to € 3,437 million (9m 2020: € -2,185 million), including net Adjustments of € +68 million.

These Adjustments comprised:

€ +190 million related to the A380 programme, of which € +45 million were booked in Q3;
€ -165 million related to the dollar pre-delivery payment mismatch and balance sheet revaluation, of which € +5 million were in Q3;
€ +43 million of other Adjustments, including compliance costs, of which € -6 million were in Q3.

The financial result was € -172 million (9m 2020: € -712 million). It mainly reflects the net interest result of € -233 million partly offset by € +63 million related to the revaluation of the Dassault Aviation equity stake. Consolidated net income(2) was € 2,635 million (9m 2020 net loss: € -2,686 million) with consolidated reported earnings per share of € 3.36 (9m 2020 loss per share: € -3.43).

Consolidated free cash flow before M&A and customer financing was € 2,260 million (9m 2020: € -11,798 million), reflecting efforts on cash containment and also included a positive phasing impact from working capital. Consolidated free cash flow was € 2,308 million (9m 2020: € -12,276 million).

On 30 September 2021, the gross cash position stood at € 21.7 billion (year-end 2020: € 21.4 billion) with a consolidated net cash position of € 6.7 billion (year-end 2020: € 4.3 billion). The Company’s liquidity position remains strong, standing at € 27.7 billion at the end of September 2021. Given the increase in the net cash position and the robust liquidity, a decision was taken not to renew the undrawn € 6.2 billion Supplemental Liquidity Line which matured in September. In the meantime, the maturity of the € 6 billion Revolving Syndicated Credit Facility has been extended by a year.

Outlook

As the basis for its 2021 guidance, the Company assumes no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services.

The Company’s 2021 guidance is before M&A.

On that basis, the Company has updated its 2021 guidance and now targets to achieve in 2021 around:

600 commercial aircraft deliveries;
EBIT Adjusted of € 4.5 billion;
Free Cash Flow before M&A and Customer Financing of € 2.5 billion.

Griffin Global Asset Management Orders Five Boeing 737-8 Jets

September 2, 2021 / WIL BALDWIN

SEATTLE, Washington, September 1, 2021 — Boeing [NYSE: BA] and Griffin Global Asset Management today announced the aircraft lessor is expanding its commercial aircraft portfolio with five new 737-8 jets. The purchase is Griffin’s first direct order with Boeing as it sees strategic opportunities to place the airplanes during the market recovery.

Designed and built in Renton, Washington, the 737 MAX family delivers superior efficiency, flexibility and reliability while reducing fuel use and carbon emissions by at least 14% compared to the airplanes they replace. The 737-8 seats up to 189 passengers and can fly 3,550 nautical miles – about 600 miles farther than its predecessor – allowing airlines to offer new and more direct routes for passengers. Every 737 MAX features the new Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future and living the company’s core values of safety, quality and integrity.

Delta Air Lines Orders Additional 30 Airbus A321neo Aircraft

August 24, 2021 / WIL BALDWIN

Herndon, VA, August 24, 2021 – Delta Air Lines has ordered 30 additional Airbus A321neo aircraft to help meet the airline’s future fleet requirements. The newly-ordered aircraft are in addition to the airline’s existing orders for 125 of the type, bringing the outstanding orders from Delta to a total of 155 A321neos.

Delta’s A321neos will be powered by next-generation Pratt & Whitney PW1100G turbofan engines that bring significant efficiency gains over Delta’s current, already-efficient A321 aircraft. Equipped with total seating for 194 customers with 20 in First Class, 42 in Delta Comfort+ and 132 in the Main Cabin, Delta’s A321neos will be deployed primarily across the airline’s extensive domestic network, complementing Delta’s current A321 fleet of more than 120 aircraft. The airline is slated to receive the first of its 155 A321neo aircraft early next year.

Many of Delta’s A321neos will be delivered from the Airbus U.S. Manufacturing Facility in Mobile, Alabama. The airline has taken delivery of 87 U.S.-manufactured Airbus aircraft since 2016.

As of the end of July, Delta’s fleet of Airbus aircraft numbered 358, including 50 A220 aircraft, 240 A320 Family members, 53 A330 widebodies, and 15 A350 XWB aircraft.

Condor Picks Airbus A330neo for Fleet Modernization

August 5, 2021 / WIL BALDWIN

German airline Condor has chosen the A330neo to renew its long-haul fleet with plans to introduce 16 aircraft of this new and more efficient type. The airline has signed an agreement with Airbus for the purchase of seven Airbus A330neo, and intends to lease a further nine.

Condor is the latest airline to order Airbus’ state-of-the-art A330neo widebody aircraft, bringing a step-change in performance and economics. The airline will operate the A330neo on its international long-haul network to the Americas, Africa, the Caribbean and Asia.

The Airbus A330neo is a true next-generation aircraft, incorporating the latest A350 technologies, with A330 profitability and Airbus commonality. Equipped with the stunning Airspace cabin, the A330neo offers a unique passenger experience, brimming with the latest in-flight entertainment systems and connectivity.

The A330neo is powered by Rolls-Royce Trent 7000 engines and features a new wing with increased span and A350-inspired winglets. The aircraft also provides an unprecedented level of efficiency, with 25% lower fuel-burn and CO2 emissions per seat than previous-generation competitors. Thanks to its tailored, mid-sized capacity and excellent range versatility, the A330neo is considered the ideal aircraft to support operators in their post-COVID-19 recovery.

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