Third corporate bond of 1.5 billion euros issued in 2021
Lufthansa Group takes advantage of favorable market conditions
Placement with two maturities of two and five-and-a-half years complements Lufthansa Group’s maturity profile
Deutsche Lufthansa AG (OTC: DLAKY) has again successfully issued a bond with a total volume of 1.5 billion euros. The bond, with a denomination of 100,000 euros, was placed in two tranches with terms of two and five-and-a-half years respectively. The tranche with a term until 16 November 2023 has a volume of 600 million euros and bears interest of 1.625 percent per year. The tranche with a term until 16 May 2027 has a volume of 900 million euros and bears interest of 2.875 percent. The two tranches over two and five-and-a-half years fit perfectly into the Group’s maturity profile.
Remco Steenbergen, Chief Financial Officer of Deutsche Lufthansa AG, stated: “The long-term funds, which were again raised at attractive terms, will be used to further strengthen the Lufthansa Group’s liquidity and refinance existing debt. This placement is one of several successful capital market transactions that we have executed since the end of last year and will further contribute to the full repayment of the government stabilization measures in Germany.”
MD Helicopters, Inc. (MDHI) announces two independent contract awards worth $43.9 million from Army Contracting Command-Redstone supporting the Afghan Air Force’s MD 530F Cayuse Warrior light attack helicopters.
The first contract, a six-month extension worth $14.5 million, continues MDHI’s longstanding efforts to provide program management, and contractor logistics support (CLS) services, material, and remote operations to support the Afghan fleet. Work will take place in Mesa, Arizona; Kabul, Afghanistan; and Al-Ain, United Arab Emirates. The contract was awarded on May 28, 2021.
The second contract, worth $29.4 million, modifies MDHI’s original maintenance capabilities support contract. Under this six-month contract, MD Helicopters will provide continued maintenance, repairs, updates, and overhauls of the Afghan Air Force’s MD 530F Cayuse Warrior helicopters in Mesa, Kabul, and Al-Ain. The contract was awarded on June 10, 2021.
The enhanced MD 530F Cayuse Warrior is a light armed attack helicopter respected for its power, safety, speed, agility, and unparalleled confined area capabilities. The aircraft supports a wide range of training and operational missions, providing safe, efficient multi-mission support with an increased performance profile.
Rolls-Royce (London: RR.L) has been awarded funding by the UK Ministry of Defence (MOD) to further develop and demonstrate the Artificial Chief Engineer® technology – an autonomous machinery control system which allows Naval vessels to undertake long endurance missions with less human interaction.
Developed by Rolls-Royce, Artificial Chief Engineer® is a critical enabler for autonomous missions by acting as the equivalent of the engineering department responsible for the health and the operation of an unmanned vessel’s machinery. Navies intend to increase their use of optionally-manned and unmanned vessels to project power further for less cost by reducing reliance on manpower, allowing higher-risk or longer-endurance missions, and by lowering the procurement and operating costs of future platforms.
The funding to continue the development, has been awarded under the UK MOD’s Defence and Security Accelerator Intelligent Ship Phase Two programme, which is used to de-risk and evaluate technologies and approaches to enhance the armed forces’ technical advantage.
Rapid growth in automation, autonomy, machine learning and artificial intelligence (AI) has prompted the need to investigate how human-machine teaming can effectively take place. This 16-month programme aims to investigate how effective human-AI collaboration can be best exploited to improve decision-making and planning within complex operating environments.
Artificial Chief Engineer is an on-board, secure, decision-making control system designed to intelligently operate the machinery of lean-manned and unmanned naval vessels. The technology makes condition-based decisions about how best to operate the machinery – including the engines, propulsion system, electrical network and fuel system – using algorithms to optimise the ship for maximum efficiency, lowest noise, top speed or to preserve damaged equipment as required by the ship’s mission. This reduces the workload of remote operators and allows increased mission and system complexity in future unmanned ship designs.
Intelligent Ship is a Defence Science and Technology Laboratory (Dstl) project to develop novel and innovative technologies and concepts to facilitate the use of intelligent systems within future platforms, with potential for utilisation across defence. The aim is to de-risk and evaluate technologies and approaches to enable revolutionary future platform, fleet, and cross-domain concepts to enhance UK military advantage.
Wrapping around the Artificial Chief Engineer project will be Rolls-Royce’s Aletheia FrameworkTM. This is a ground-breaking standard it has developed to ensure that before artificial intelligence is used all ethical considerations have been fully assessed, and that once an AI is deployed, its decisions are trustworthy. The Aletheia Framework is as part of a campaign led by Rolls-Royce to improve public trust in artificial intelligence so that its full potential can be realized for good across the world.
Airbus has signed a contract to deliver 38 new Eurofighter aircraft to the German Air Force. This makes Germany the largest ordering nation in Europe’s biggest defence programme. The order, also known by its project name Quadriga, covers the delivery of 30 single-seater and 8 twin-seater Eurofighters. Three of the aircraft will be equipped with additional test installations as Instrumented Test Aircraft for the further development of the Eurofighter programme.
Dirk Hoke, CEO Airbus Defence and Space, said: “The new Tranche 4 Eurofighter is currently the most modern European-built combat aircraft with a service life well beyond 2060. Its technical capabilities will allow full integration into the European Future Combat Air System FCAS”.
The renewed order from Germany secures production until 2030 and comes at a strategically important time for the programme. In addition to an expected Eurofighter order from Spain to replace its legacy F-18s, procurement decisions in Switzerland and Finland are imminent in 2021.
The variant offered in Switzerland corresponds to the configuration of the German Quadriga order. The equipment includes the world’s latest electronic radar, future-proof hardware and software and unlimited multi-role capability for engaging air and ground targets.
Eurofighter is Europe’s largest defence programme, in which the United Kingdom, Spain and Italy are involved alongside Germany. In addition to technological capabilities, it secures more than 100,000 jobs in Europe.
F-15QA1 and F-15QA2 Air to Air. Includes Arch Fly-by, St. Louis, MO. MSF20-0028 Series.
– Qatar Emiri Air Force to receive aircrew and maintenance training support for F-15QA aircraft
– Comprehensive support includes pre-delivery training and maintenance, and in-country services support
Boeing [NYSA: BA] today acknowledged three foreign military sales contracts with the U.S. Air Force for training services and support in the Middle East valued at more than $800 million.
The first previously unannounced contract was awarded in 2019 and will support the Qatar Emiri Air Force (QEAF) with F-15QA program management, maintenance and aircrew training valued at $240 million over a five-year contract period.
Boeing also received a separate not-to-exceed $68 million contract to provide maintenance and logistics support for the QEAF during their pre-delivery training for the F-15QA aircraft, which will commence early next year. The QEAF will send pilots and weapon system operators to the U.S., where the aircrews will learn how to independently operate the F-15QA ahead of receiving their new aircraft. Training will include in-person instruction, simulation events and flying operations and will be held near Boeing’s F-15 production facility in the U.S. through mid-2021.
Following this, Boeing will establish and operate an aircrew and maintenance training center for the QEAF at Al Udeid Air Base, Qatar, through 2024.
A third contract awarded in November and valued at more than $500 million will provide the QEAF with in-country spares and logistics support once the aircraft are delivered to Qatar.
“The tailored training and sustainment delivered by our team, coupled with Boeing’s platform expertise, allows us to deliver a holistic solution to our Qatari customer so they can optimize the full capability of their fleet with high availability rates,” said Tim Buerk, director of Middle East defense services for Boeing. “We look forward to our continued partnership with Qatar and further supporting their mission readiness needs.”
The F-15QA is an advanced variant of the undefeated F-15 aircraft. The Advanced F-15 features next-generation technologies that offer more speed, range and payload than any other fighter in its class. Boeing will deliver 36 F-15QA aircraft to Qatar starting in 2021.
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. 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.
F-15QA1 and F-15QA2 Air to Air. Includes Arch Fly-by, St. Louis, MO. MSF20-0028 Series.
HONG KONG, Dec 2 (Reuters) – Cash-strapped Chinese conglomerate HNA Group said on Monday it has agreed a deal to restructure its low-cost carrier West Air with a Chongqing-based asset management firm.
Chongqing Yufu Asset Management Group and its affiliates will together hold at least 70% stake in West Air, becoming the biggest shareholder, HNA said in a statement.
West Air, established in 2007, operates about 160 domestic and international routes with a fleet of 35 airplanes.
It has been directly controlled by HNA, whose affiliates also own struggling Hong Kong Airlines as well as Hainan Airlines Holding Co Ltd.
Budget carrier Hong Kong Airlines was ordered by Hong Kong’s air transport regulator on Monday to shore up its financial position by Dec. 7 or risk the suspension or loss of its licence.
Hainan Airlines, which has seen declining profits, said in a Shanghai stock exchange filing on Monday that it will seek 4 billion yuan ($568 million) in loans from eight banks led by China Development Bank.
The funds will be used to cover the costs of fuel, maintenance charges, staff salaries and operational expenses, it said in the filing.
$1 = 7.0389 Chinese yuan renminbi
Reporting by Meg Shen; Editing by Edmund Blair and Susan Fenton
