WELCOME TO WWW.PLANESINTHEAIR.COM

TOMORROWS TRANSPORTATION NEWS TODAY!

Tag: regulators (Page 1 of 3)

Lockheed Martin Photography By Garry Tice 1011 Lockheed Way, Palmdale, Ca. 93599 Event: X-59 - Glamour Shoot Day Date: 12/12/2023 Additional Info:

Skunk Works® Rolls Out X-59, NASA’s Newest X-Plane

January 12, 2024 /

Palmdale, California, January 12, 2024, PRNewswire – Lockheed Martin Skunk Works® (NYSE: LMT) rolled out the X-59, a unique experimental aircraft designed to quiet the sonic boom, at a ceremony in Palmdale, California. The ceremony marked a significant milestone in Lockheed Martin’s and NASA’s decades-long journey to solve one of the most persistent challenges of supersonic flight, the sonic boom.

Rollout ceremonies are a long-standing aviation tradition, and in the case of the X-59, it celebrated technical advancements, collaboration and innovation that stemmed from years of research, development and production of a one-of-a-kind technology demonstrator aircraft that will reduce the loudness of sonic booms to a gentle thump.

Next, the aircraft will complete ground tests including engine-run and taxi tests before its next major milestone, first flight, later this year. After the aircraft is validated in initial flight tests, it will move into the acoustic testing phase. This phase will include flights over populated areas to provide U.S. and international regulators with statistically valid data required to help approve new rules that could allow quiet commercial supersonic flight over land. This would cut commercial flight times to half of what they are today, transforming travel for people around the world.

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.

Copy Translate
Copy Translate
MAX-10 First Flight Takeoff Renton

Boeing Completes Successful First 737-10 Flight

June 19, 2021 /

SEATTLE /PRNewswire/ — Boeing’s [NYSE: BA] 737-10, the largest airplane in the 737 MAX family, today completed a successful first flight. The airplane took off from Renton Field in Renton, Washington, at 10:07 a.m. and landed at 12:38 p.m. at Boeing Field in Seattle.

Today’s flight was the start of a comprehensive test program for the 737-10. Boeing will work closely with regulators to certify the airplane prior to its scheduled entry into service in 2023.

The 737-10 can carry up to 230 passengers. It also incorporates environmental improvements, cutting carbon emissions by 14 percent and reducing noise by 50 percent compared to today’s Next-Generation 737s.

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.

MAX-10 First Flight Landing Boeing Field Seattle
Boeing Rendering

Dubai Aerospace Enterprise Orders 15 Boeing 737 MAX Jets

April 20, 2021 /

SEATTLE, April 20, 2021 /PRNewswire/ — Boeing [NYSE: BA] and Dubai Aerospace Enterprise (DAE) today announced the aircraft lessor is growing its 737 MAX portfolio with an order for 15 737-8 jets. DAE had been investing in the 737 MAX by buying jets from existing customers and leasing them back to the carriers. The new order is DAE’s first direct 737 MAX purchase from Boeing as it modernizes its portfolio for better economic and environmental performance.

The order will appear on Boeing’s Orders and Deliveries website once finalized.

Firoz Tarapore, Chief Executive Officer of DAE, said: “We are delighted to deepen our already strong relationship with Boeing. Including this order, we own and manage 162 Boeing aircraft. An increasing number of global aviation regulators are returning the MAX to the skies. We are confident in the success of these aircraft as domestic and regional air travel are seeing strong signs of recovery.” 

The new purchase is DAE’s second investment in the 737 MAX in the past year. In the third quarter of 2020, the lessor signed an agreement with American Airlines to purchase and lease back 18 new 737-8 airplanes. Since the agreement, the lessor has delivered 17 of the jets to the U.S. carrier. DAE previously completed a similar purchase-leaseback deal with Brazilian carrier GOL for five 737-8s.

“DAE has been instrumental in helping its customers realize the operating economics and environmental performance of the 737-8. We are delighted that they have come back to add more 737 aircraft to its growth plan as it positions itself for the recovery in commercial passenger traffic,” said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. “We are honored by DAE’s trust in the 737 family and we look forward to partnering with them to serve the fleet requirements of airlines around the world.”

The 737-8 is a member of the 737 MAX family which is designed to offer more fuel efficiency, reliability and flexibility in the single-aisle market. The airplane can fly 3,550 nautical miles – about 600 miles farther than its predecessor – allowing airlines to offer new and more direct routes for passengers. Compared to the airplanes it replaces, the 737-8 also delivers superior efficiency, using 16% less fuel and significantly reducing CO2 emissions and operating costs.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries, leveraging the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

Dubai Aerospace Enterprise (DAE) Ltd. is a global aviation services company headquartered in Dubai. DAE serves over 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York and Seattle. DAE’s award-winning Aircraft Leasing division has an owned, managed, committed and mandated to manage fleet of approximately 425 Airbus, ATR and Boeing aircraft with a fleet value exceeding US$16 billion. DAE’s Engineering division serves customers in Europe, Middle East, Africa and South Asia from its state-of-the-art facility accommodating up to 15 wide and narrow body aircraft. It is authorized to work on 13 aircraft types and has regulatory approval from over 25 regulators globally. More information can be found on the company’s web site at www.dubaiaerospace.com.

Qantas & Japan Airlines Form Tourism Recovery Business Venture

December 27, 2020 /

Qantas and Japan Airlines (JAL) today announced plans to form a new joint business, designed to better serve customers travelling between Australia, New Zealand and Japan and support the tourism industry’s recovery when international flying resumes.

The airlines have submitted an application for authorisation to regulators in Australia and New Zealand, with a decision expected within six months. Subject to this regulatory approval, it is anticipated that the joint business would commence operations around July 2021, when Qantas has said it expects its international network to gradually restart.

The coordination made possible through a joint business would enable Qantas and JAL to ramp up flights between Australia and Japan sooner than would otherwise be possible. The airlines have flagged an intention to launch a new route between Australia and Japan and expect to announce details once regulatory approval is received, borders open and demand returns.

Under the proposed five-year agreement, the airlines would deliver substantial benefits for customers and help accelerate the recovery of the tourism, trade and corporate travel links between Australia and Japan, including:

  • An expanded codeshare relationship and optimised schedules on flights between Australia and New Zealand and Japan, opening up more connections to more destinations beyond the major city gateways. Qantas customers would have access to 14 new codeshare destinations in Japan and JAL customers would have access to 15 new codeshare destinations in Australia and New Zealand.
  • Enhanced frequent flyer benefits for Qantas and JAL customers, including improved earn of Qantas points or JAL miles on routes under the joint business beyond what is possible today, as well as the ability to upgrade using points or miles on each other’s services.
  • Improvements in the customer experience, including streamlined processes for disruption management and investments in product and service inflight and on the ground, designed to better serve the carriers’ joint customers.
  • More premium travel opportunities, with Qantas able to offer customers a greater number of Business and Premium Economy seats on flights operated by JAL.
  • Coordination of pricing, schedules, sales and tourism marketing to develop new and improved travel products, delivering more choice for customers.

Qantas Group CEO Alan Joyce said the joint business would play a vital role in reviving trade links with the world’s third largest economy and deliver significant benefits for customers travelling between Australia and Japan.

“Around half a million people visited Australia from Japan in 2019. We want to see that tourism resume and grow even further by making it easier for Japanese travellers to visit,” said Mr Joyce.

“The joint business means we’ll be able to build on our existing relationship with JAL through oneworld to offer more routes, better flight connections and more benefits to frequent flyers. It also helps us diversify our portfolio of joint businesses amongst Australia’s key trading partners.

“It will be a win for our customers, a win for trade and a win for the one million people who work in tourism across Australia.”

Japan Airlines President Yuji Akasaka added: “For over 50 years, JAL and Qantas have operated flights between Japan and Australia, demonstrating our mutual commitment to support and strengthen the diplomatic relationship built by the two countries.

“We believe that a joint business with Qantas will make for a quicker recovery between both countries with the ability to expand connectivity within each carrier’s respective domestic network, providing more customer choice and travel growth opportunities.”

A crowd that included Air Force leadership, congressional representatives and senators, executives and plant personnel from the Lockheed Martin Aeronautics Corporation attended a ceremony dedicating the delivery of the final F-22 Raptor in Marietta, Ga., May 2. (U.S. Air Force photo/Don Peek)

Lockheed Martin Inks $4.4B Deal to Acquire Aerojet Rocketdyne

December 20, 2020 /

From Reuters News – Reporting by Mike Stone in Washington, D.C., Editing by Greg Roumeliotis

Dec 20 (Reuters) – Lockheed Martin Corp (NYSE: LMT) said on Sunday that it has agreed acquire U.S. rocket engine manufacturer Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) for $4.4 billion, including debt and net cash.

The deal is Lockheed’s biggest acquisition since Jim Taiclet took over as chief executive in June. He is seeking to beef up the company’s propulsion capabilities amid competition from new entrants such as SpaceX and Blue Origin, for space contracts with the U.S. government.

“Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer,” Taiclet said in a statement.

Lockheed said it will pay $56 per share for Aerojet Rocketdyne, a 33 percent premium to Friday’s closing price. The purchase price will be reduced to $51 per share after the payment of a pre-closing special dividend, Lockheed added.

The Bethesda, Maryland-based company already uses Aerojet Rocketdyne’s propulsion systems in its aeronautics, missiles and fire control offerings.

Lockheed said the transaction, which is set to be scrutinized by regulators given the company’s leading position in the defense sector, is expected to close in the second half of 2021.

A crowd that included Air Force leadership, congressional representatives and senators, executives and plant personnel from the Lockheed Martin Aeronautics Corporation attended a ceremony dedicating the delivery of the final F-22 Raptor in Marietta, Ga., May 2. (U.S. Air Force photo/Don Peek)

CDB Financial Scraps Purchase of 29 Boeing 737 MAX Jets

April 20, 2020 /

SYDNEY (Reuters) – China Development Bank (CDB) Financial Leasing Co said on Monday it had agreed with Boeing Co <BA.N> to cancel the purchase of 29 undelivered 737 MAX jets, adding to a string of recent cancellations of the grounded airplane.

The model has been grounded globally for more than a year following deadly crashes in Indonesia and Ethiopia.

“In light of evolving aviation market dynamics, we’ve been working together with Boeing over many months to re-calibrate our MAX orderbook to be in line with our long-term view of the market and related opportunities,” Xuedong Wang, chairman of CDB Financial unit CDB Aviation, said in a statement.

The lessor said it retained an order for another 70 of the planes that also have yet to be delivered.

Boeing recorded a total of 150 MAX cancellations in March, including 75 from Irish leasing company Avolon. Boeing remains in talks with regulators seeking approval to return the plane to service, but its customers have also seen a sharp fall-off in demand due to the coronavirus pandemic.

Boeing said in a statement it continued to partner with leasing company customers to help them balance their portfolios in a challenging market.

“As we work to return the 737 MAX to service, our focus remains on addressing our customers’ fleet needs while optimising the delivery of the more than 4,000 airplanes in our 737 backlog,” it said.

“As market conditions normalise, Boeing anticipates that lessors who have restructured or reduced their orderbooks will continue to add MAX aircraft to their portfolios through sale leaseback agreements with airlines,” the planemaker said. “Longer term we expect these lessors will again place orders for direct MAX purchases.”

CDB Financial Leasing said that all 737 MAX 10 jets still on order will be switched to the smaller 737 MAX 8 model, and 20 deliveries will be deferred to dates in 2024, 2025 and 2026.

(Reporting by Jamie Freed; additional reporting by David Shepardson in Washington Editing by Tom Hogue and Muralikumar Anantharaman)

A Boeing 737 Max aircraft is seen parked in a storage area at the company’s production facility in Renton

Boeing Announces Leadership Changes

December 23, 2019 /
  • David L. Calhoun Named President and CEO
  • Lawrence W. Kellner to Become Chairman of the Board
  • New Leadership to Bring Renewed Commitment to Transparency and Better Communication With Regulators and Customers in Safely Returning the 737 MAX to Service

Boeing [NYSE: BA] announced today that its Board of Directors has named current Chairman, David L. Calhoun, as Chief Executive Officer and President, effective January 13, 2020. Mr. Calhoun will remain a member of the Board. In addition, Board member Lawrence W. Kellner will become non-executive Chairman of the Board effective immediately.  

The Company also announced that Dennis A. Muilenburg has resigned from his positions as Chief Executive Officer and Board director effective immediately. Boeing Chief Financial Officer Greg Smith will serve as interim CEO during the brief transition period, while Mr. Calhoun exits his non-Boeing commitments. 

The Board of Directors decided that a change in leadership was necessary to restore confidence in the Company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders. 

Under the Company’s new leadership, Boeing will operate with a renewed commitment to full transparency, including effective and proactive communication with the FAA, other global regulators and its customers. 

“On behalf of the entire Board of Directors, I am pleased that Dave has agreed to lead Boeing at this critical juncture,” Mr. Kellner said.  He added, “Dave has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront. The Board and I look forward to working with him and the rest of the Boeing team to ensure that today marks a new way forward for our company.” 

Mr. Calhoun said, “I strongly believe in the future of Boeing and the 737 MAX. I am honored to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation.”

Boeing Statement Regarding 737 MAX Production

December 16, 2019 /
  • Boeing suspends 737 MAX production starting in January due to certification in 2020
  • Reduced production output enables prioritization of stored aircraft delivery
  • No layoffs or furlough expected at this time

Safely returning the 737 MAX to service is our top priority. We know that the process of approving the 737 MAX’s return to service, and of determining appropriate training requirements, must be extraordinarily thorough and robust, to ensure that our regulators, customers, and the flying public have confidence in the 737 MAX updates. As we have previously said, the FAA and global regulatory authorities determine the timeline for certification and return to service. We remain fully committed to supporting this process. It is our duty to ensure that every requirement is fulfilled, and every question from our regulators answered. 

Throughout the grounding of the 737 MAX, Boeing has continued to build new airplanes and there are now approximately 400 airplanes in storage. We have previously stated that we would continually evaluate our production plans should the MAX grounding continue longer than we expected. As a result of this ongoing evaluation, we have decided to prioritize the delivery of stored aircraft and temporarily suspend production on the 737 program beginning next month. 

We believe this decision is least disruptive to maintaining long-term production system and supply chain health. This decision is driven by a number of factors, including the extension of certification into 2020, the uncertainty about the timing and conditions of return to service and global training approvals, and the importance of ensuring that we can prioritize the delivery of stored aircraft. We will continue to assess our progress towards return to service milestones and make determinations about resuming production and deliveries accordingly.

During this time, it is our plan that affected employees will continue 737-related work, or be temporarily assigned to other teams in Puget Sound. As we have throughout the 737 MAX grounding, we will keep our customers, employees, and supply chain top of mind as we continue to assess appropriate actions. This will include efforts to sustain the gains in production system and supply chain quality and health made over the last many months.

We will provide financial information regarding the production suspension in connection with our 4Q19 earnings release in late January.

Airbus Faces Delivery Challenge, Poised to Win Jet Order Race

December 5, 2019 /

PARIS, Dec 5 (Reuters) – Airbus must hand a record number of aircraft to customers in December to meet delivery goals, company data showed on Thursday, and is all but certain of winning an annual order race against Boeing.

The European planemaker has been facing production snags in its best-selling A321neo jet, due in part to the introduction of a complex new flexible cabin, but has said it is confident of meeting a goal of 860 jets in 2019, revised down from 880-890.

To reach that target it must deliver 135 jets in December, beating a previous record of 127 December deliveries by 6%.

Airbus delivered 77 aircraft in November to reach 725 for the year so far, according to Thursday’s progress report.

Airbus has a track record of achieving a late surge in deliveries, though it is also working to spread deliveries more evenly over the year in future to smooth earnings and avoid quality problems that can creep in when it is working flat out.

Whether or not it meets targets, Airbus is set to regain the crown as the world’s largest commercial plane producer this year as U.S. rival Boeing approaches nine months without deliveries of its 737 MAX, grounded after two crashes.

Boeing is expected to jump back into the lead next year as projected deliveries include 737 MAX jets parked during the grounding, while remaining ahead on larger jets, but the timing of the 737 MAX return to service depends on global regulators.

Airbus is also on course to win an annual order contest between the plane giants after booking orders for 222 aircraft in November, driven mainly by last month’s Dubai Airshow.

Emirates ordered 50 A350-900 jets at the show as part of a fleet shake-up that also saw the world’s largest wide-body operator cut a remaining order for A380s and reduce its requirement for Boeing 777X jets, while adding the Boeing 787.

Airbus sold a total of 940 jets in January-November, or 718 after cancellations, leaving it well ahead of Boeing, whose year has been derailed by the grounding of the 737 MAX. In the latest period for which data is available, Boeing sold 180 jets in the first nine months or 45 after cancellations.

The latest figures were released days after Airbus won a sale of 50 A321XLR jets to United Airlines, narrowing the potential market for a mid-market plane that Boeing has been studying, while slowing those discussions during the MAX crisis.

United also delayed delivery of 45 A350s by several years to 2027 and beyond. UK analysts Agency Partners said on Thursday that this could put pressure on A350 output in coming years.

(Reporting by Tim Hepher; Editing by Giles Elgood and Andrew Heavens)

« Older posts

Archives

© 2024 WELCOME TO WWW.PLANESINTHEAIR.COM

Theme by Anders Noren — Up ↑