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Leonardo AW169 capabilities to grow with increased Gross Weight and 11 seat configuration

Rome, Italy, October 30, 2023 – The Leonardo S.p.A. (OTC: FINMY) AW169 light intermediate twin engine helicopter’s operational capabilities and range of options will grow further with the launch of a 5,100 kg (11,243 lb) IGW kit and an 11-seater configuration fully compliant with the IOGP (International Association of Oil & Gas Producers) Report 690. Both will be made available for the aircraft version with skid landing gear.

Compared to the standard 4,800 kg (10582 lb) Maximum Take-off Weight, the extra 300 kg (661 lb) available with the 5,100 kg IGW kit allows the embarkation of three more passengers or the addition of fuel for approximately one hour of operations. Existing operators of the type’s version with skids will be able to retrofit the 5,100 kg IGW kit to enhance their aircraft’s capabilities.

As an additional option, the 11-seater configuration, fully compliant with the IOGP Report 690 (Offshore Helicopter Recommended Practices), will introduce a new modular fuel tank system and two additional Type IV emergency exits in the cabin, increasing the total number from four to six. The 11 seats configuration will be available for the skid-fitted version in combination with the 5,100 kg IGW kit. This solution will allow the type to satisfy even more demanding offshore transport requirements in terms of payload, range, and compliance with IOGP latest standards.

This configuration will allow a radius of action of up to 75 nm with 11 passengers, therefore offering capabilities typically achievable with types with a MTOW exceeding 5.5 tons (intermediate class) at a light intermediate class cost of operations as well as granting latest safety standards compared with legacy helicopters. It will also deliver greater sustainability versus ageing types in the relevant weight category thanks to a more efficient powerplant, advanced navigation, modern support and maintenance approach, among other solutions. The Certification of the IGW increase is expected in 2024 while the 11-seater configuration with new modular fuel tank is planned for certification in 2026.

These latest operational capabilities will add to the EASA (European Aviation Safety Agency) certifications of the skid undercarriage and unique IFR, single pilot, Advanced Search and Rescue (SAR) Modes, both achieved in late 2022. With the skid configuration certification, the AW169 became the only modern CS29-certified aircraft able to offer all undercarriage solutions, further demonstrating the versatility by design of the type. The AW169 is also the only helicopter in its weight category that features Advanced SAR Modes. The performance increase packages previously developed had already enhanced engine performance and capabilities, transmission ratings and available payload through engine software updates and aircraft aerodynamics modifications, making the type the helicopter with the best power-to-weight ratio in its class.

Forward-Looking Statements

This press release 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.

 

 

Hola

Sun Country Airlines is today’s zacks.com “Bear of the Day”

With very expansive top and bottom line growth expected over the next few years, investors may be wondering why Sun Country Airlines (Nasdaq: SNCY) stock is down -5% year to date.

The answer to this question lies in the trend of earnings estimate revisions which have largely declined landing Sun Country’s stock a Zacks Rank #5 (Strong Sell) and the Bear of the Day.

Click the link below to read the full story!

Bear of the Day

 

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LATAM Group receives new Boeing 787-9

Santiago, Chile, September, 2023 – LATAM group (OTC: LTMAY) has received delivery of a new Boeing 787-9 directly from Charleston (United States) to Santiago (Chile), and is the only group of airlines in South America operating this model.

The Boeing 787-9 is equipped with advanced technology that allows it to reduce fuel consumption and CO2 emissions by 20-30% compared to the previous technology thanks to its lightweight materials, state-of-the-art engines, and modern aerodynamics.

Its arrival is part of LATAM group’s fleet renewal and modernization strategy, which will enable it to have 37 Dreamliners including the 787-8 variant by the end of this year, becoming one of the most modern and efficient fleets in South America. With this, the LATAM group aims to finish 2023 with a fleet of 332 aircraft, of which 78 are Wide Body and 254 are Narrow Body.

LATAM group’s new aircraft will feature 300 seats and has the capacity to cover an approximate distance of 14,010 km. Additionally, it boasts larger windows, spacious overhead compartments, technology that detects and counteracts turbulence for a smoother flight, and onboard diagnostic systems that allow the aircraft to self-monitor and automatically report maintenance requirements to ground systems.

 

 

 

 

Norse Atlantic Airways Q2 report shows strong growth momentum going into Q3 2023

CEO, Founder and largest shareholder, Bjorn Tore Larsen:

“Q2 marked a significant period of ramping-up as we inaugurated new destinations in the US and Europe. Additionally, more of our fleet of fuel efficient Boeing 787 Dreamliners were brought into production. By the end of Q2 the airline had more than doubled capacity, with June being our first month of increased production, and notably our first month generating bottom line profits.

Q3 is expected to be our first financial quarter generating a profit. The move to profitability is driven primarily by having all 15 aircraft generating revenue for the first time, from July 1st; 10 of which are operating for Norse and five generating revenue through sublease income.

A milestone was passed during Q3 as we surpassed one million booked passengers. By providing affordable air fares on competitive and established routes to key primary airports and destinations, we allow more people to explore the world and enjoy the experience of long-haul travel whether for leisure or business. Norse will be the first truly low-cost profitable long-haul airline”.

For further information please see Q1 2023 report and company update presentation attached.

• Revenue increased by 152% quarter-on-quarter (“QoQ”) to USD 100.1 million

• 204,564 passengers carried, up 86% QoQ

• Revenue per passenger increased 89% QoQ to USD 422

• Available Seat Kilometres (ASK) up by 51% QoQ due to planned ramp-up as Norse brought more aircraft into production

• Positive EBITDAR of USD 2.2 million, the first positive EBITDAR on a quarterly basis since inception of the Company

• Intra-quarter Norse recorded its first profitable month (June) and continued positive momentum

into Q3

• Load factors showed strong development during the quarter, with monthly average load factors of 67%, 72% and 82% in April, May and June respectively. The positive development continued post quarter end with an average load factor of 85% in July

• USD 19.0 million cash generated from operations in the quarter, an increase of USD 39.8 million QoQ

• Total cash held at quarter end of USD 59.1 million

• As communicated in November 2022 in relation to a private placement at the time, Norse made good on its promise to shareholders that it would perform a repair offering, which it completed during the quarter, raising NOK 150 million gross (USD 14.1 million)

• Norse upgraded to Euronext Expand at Oslo Stock Exchange, a regulated market, during the quarter

• Heavy increase in production through Q3 compared to Q2 with all Norse aircraft generating revenue for the first time from 1st July 2023

Volvo Cars Q2 results shows transformation proceeding full speed ahead

Volvo Cars (OTC: VLVLY) today reports a 39 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.4 bn and a corresponding EBIT margin of 6.3 per cent for the second quarter of 2023. The result came despite a SEK 0.9 bn, non-recurring item related to the redundancy programme announced in May, part of securing a more efficient and sustainable cost base for the future. Without this item, the underlying EBIT margin, excluding joint ventures and associates, was 7.2 per cent in the second quarter. This illustrates that the solid underlying performance momentum from the first three months of the year continued during this past quarter.

Click the link below to read the entire press release!

https://www.media.volvocars.com/global/en-gb/media/pressreleases/316863/volvo-cars-q2-results-full-speed-ahead-in-transformation-with-a-solid-business-performance

Changes Adopted Following KiwiRail Track Damage Report

KiwiRail and Auckland Transport are already making changes to address issues raised by a report into track damage through Rolling Contact Fatigue that led to widespread speed restrictions across the Auckland rail network.

The Auckland RCF Working Group Root Cause Assessment Report, prepared for KiwiRail and Auckland Transport, identified multiple causes, with historic underinvestment in Auckland’s rail track infrastructure identified as one of the key factors. The report also pointed to insufficient rail grinding, poor underlying track condition, the design of the EMU trains and the wheel rail interface.  Auckland’s climate is also another likely contributor.

KiwiRail Chief Operating Officer Todd Moyle acknowledged the report’s findings, and said work was already well advanced to implement recommendations made in the report.

Todd Moyle says that 130km of rail was replaced in just seven months and KiwiRail is now working through the second phase to repair the more complex sections of track.

The track remediation work is part of a $1.5 billion programme of work to modernise and improve the Auckland metro rail network. Other projects include the ‘third main’ project to ease congestion and allow for extra services on the busiest part of the network between Westfield and Wiri, the extension of electrification to Pukekohe, and three new stations at Drury and Paerata.  When complete, Auckland commuters and freight customers will enjoy a more resilient and reliable network.

Dassault Aviation Adds Third Falcon 6X to Test Program

A third Falcon 6X recently took flight and joined Dassault Aviation’s flight test campaign, moving the new long-range extra widebody twin a step closer to anticipated certification in 2022.

Falcon 6X s/n 003 is fitted with a full interior and will be used for cabin design validation. The aircraft completed a two-hour maiden flight from Dassault’s Bordeaux-Mérignac final assembly plant to its Istres flight test facility on June 24, climbing to Flight Level 400 and accelerating to a cruise speed of Mach 0.85. The first 6X flew on March 10 and the second on April 30.

Aircraft no. 3 is outfitted with the Falcon 6X’s award winning interior, including in-flight entertainment and communications systems. In addition to testing this equipment, the aircraft will be used to evaluate environmental features and temperature control and validate cabin acoustics systems, which alongside those on the ultra long-range Falcon 8X trijet are expected to be the industry reference.

A fourth aircraft will also be equipped with a full cabin interior, currently being installed in Mérignac. It will conduct a two-month global endurance flight campaign intended to ensure that all 6X systems are fully mature upon entry into service.

Production of additional units is in full swing, with aircraft no. 10 scheduled to be on the final assembly line by beginning of July. The Falcon 6X has received several prestigious design awards, including the Red Dot prize for premium cabin design. The aircraft was recognized this month as the “Best of the Best” in aviation by the Robb Report luxury-lifestyle magazine, which noted: “Dassault’s newest aircraft pairs size with technology to create an award-worthy new class of business jet.”

Panasonic to Resume New York Tesla Production Wednesday

Panasonic Corporation (OTC: PCRFY) is looking to restart production at Tesla Inc.’s (NASDAQ: TSLA) New York manufacturing plant on Wednesday, the Verge reported Tuesday.

What Happened

The Japanese electronics giant will spend the first two days performing equipment checks, and standard manufacturing will start Friday, Panasonic North America Solar Energy Division President Mark Shima said in an internal email accessed by the Verge.

Shima told the employees that the company has “completed preparations under close collaboration with Tesla, such as preparation of masks, sanitizers and wipes, set new protocol for entrance, new rules in cafeteria and production floor, new seat assignment in the office area in order to keep 6′ to the next person.”

It isn’t immediately clear if Tesla is also restarting production at the solar panel manufacturing facility.

Why It Matters

A majority of manufacturing at the New York gigafactory has…

 Click the link below to view the full story!

https://finance.yahoo.com/news/panasonic-resume-production-teslas-york-040946178.html

Qantas Pauses Airplane Deliveries from Airbus and Boeing

Qantas planes are seen at Kingsford Smith International Airport in Sydney, Australia

SYDNEY (Reuters) – Qantas Airways Ltd <QAN.AX> said on Monday it had advised Airbus SE <AIR.PA> and Boeing Co <BA.N> that it did not expect to take delivery of any new planes in the near term as it grapples with a plunge in demand due to the coronavirus pandemic.

The airline had expected to add three Boeing 787-9 jets to its fleet by the end of 2020 and to start taking delivery in August of the first of 18 Airbus A321neos due by 2022.

There is no longer a specific timeline for them to arrive because the market is too uncertain, a Qantas spokesman said, confirming a report on travel website Executive Traveller.

Many carriers around the world have grounded the bulk of their fleets and halted aircraft deliveries in response to the pandemic, leading Airbus and Boeing to cut production rates.

Qantas last week said it had shelved plans to order this year up to 12 A350s capable of the world’s longest commercial flights from Sydney to London. It said it was reviewing its fleet with the expectation that most international travel could take years to rebound.

More than 25,000 of the airline’s staff have been stood down until at least the end of June as the carrier is flying only 5% of its pre-crisis domestic passenger network and 1% of its pre-crisis international network.

An Airbus spokesman said his company did not comment on delivery schedules for airlines. Boeing did not respond immediately to a request for comment.

(Reporting by Jamie Freed; Editing by Himani Sarkar)

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