Tag: third (Page 1 of 3)

Air Niugini orders 6 Airbus A220 aircraft

November 3, 2023 / WIL BALDWIN

Toulouse, France, November 3, 2023 – Air Niugini, the national flag carrier of Papua New Guinea, has signed a firm order with Airbus Group SE (Paris: AIR) for six latest generation single aisle A220-100’s under its fleet modernisation program. In addition, the carrier will acquire three A220-300s and another two A220-100’s from third party lessors.

The order was announced at a special event in Port Moresby by Gary Seddon, Acting Chief Executive Officer Air Niugini and Anand Stanley, President Airbus Asia-Pacific, in the presence of the Honorable James Marape, Prime Minister of Papua New Guinea and Honorable William Duma, Minister for State Enterprises.

Air Niugini also announced that it has selected a flight planning support system from Airbus subsidiary NAVBLUE for its fleet. Called N-Flight Planning (N-FP), the solution will help the airline optimise on fuel, time and cost to meet operational needs, while ensuring overall safety and compliance.

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.

Saab Q3 2023 results: Growth momentum in an evolving market

October 27, 2023 / WIL BALDWIN

Saab AB (Stockholm: series B: SAABb)President and CEO Micael Johansson says “The geopolitical tensions are impacting our industry and driving the largest increase in defence investments in the last 30 years, particularly in Europe. In the third quarter, high demand for Saab’s broad defence portfolio continued to result in significant order intake, strong sales growth and improved profitability.”

Key highlights Q3 2023

Order intake amounted to SEK 14,977m (7,772) with strong growth in all order sizes in the quarter.
Sales increased to SEK 11,527m (8,751) with an organic growth of 31%, driven by growth in all business areas.
EBITDA increased 28% and amounted to SEK 1,424m (1,115), corresponding to an EBITDA margin of 12.4% (12.7).
Operating income (EBIT) increased 51% and amounted to SEK 859m (568). The EBIT margin was 7.5% (6.5) with improvements in several business areas in the quarter.
Net income for the period increased to SEK 656m (324) and earnings per share amounted to SEK 4.84 (2.28).
Operational cash flow in the quarter was SEK -2,058m (559) mainly due to timing of customer payments combined with higher investments.
Net liquidity position in the quarter was SEK 1.4 bn (0.4).
Upgraded outlook for organic sales growth 2023: organic sales growth to be between 19-23%, compared to previous outlook of 16-20%.

For more information and explanations of the above key ratios, please see www.saab.com/investors/financials/financial-data.

Mesa Air Group Announces Third Quarter 2023 Earnings Release and Conference Call Date

August 7, 2023 / WIL BALDWIN

Phoenix, Arizona, August 07, 2023 (GLOBE NEWSWIRE) – Mesa Air Group, Inc. (NASDAQ: MESA) will release its third quarter earnings results for fiscal year 2023 after the market closes on Wednesday, August 9th. The company will also host a conference call to discuss the results on August 9th at 4:30 pm Eastern Time.

The call can be accessed by dialing 800-857-9792 and entering the passcode: PHOENIX (7463649).

There will also be a listen-only webcast on Mesa’s website (found here). A recorded version will be available on Mesa’s website approximately two hours after the call (http://investor.mesa-air.com).

About Mesa Air Group, Inc.

Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. is the holding company of Mesa Airlines, a regional air carrier providing scheduled passenger service to 89 cities in 40 states, the District of Columbia, the Bahamas, Canada, Cuba, and Mexico as well as cargo services out of Cincinnati/Northern Kentucky International Airport. As of June 30, 2023, Mesa operated a fleet of 80 aircraft with approximately 277 daily departures and four 737 cargo aircraft. The Company had approximately 2,300 employees. Mesa operates all its flights as either United Express or DHL Express flights pursuant to the terms of a capacity purchase agreement entered into with United Airlines, Inc. and a flight service agreement with DHL.

Singapore Airlines Extends PPS Club And KrisFlyer Elite Statuses For Third Year

January 17, 2022 / WIL BALDWIN

Singapore Airlines (SES: C6L.SI) is extending PPS Club and KrisFlyer Elite statuses, rolling over Elite miles, pausing the expiration of miles in 2022, and introducing new program benefits that further rewards its loyal members.

All PPS Club and KrisFlyer Elite statuses that are due to expire between March 2022 and February 2023 will be automatically extended for another year. This supports our members, who have been unable to fly as before due to the Covid-19 pandemic, and follows a similar extension in 2020 and 2021.

Elite miles earned by KrisFlyer Elite members, in the 12 months prior to the latest extension, will be credited back into their accounts after the extension. Elite miles earned during the previous membership qualification cycle will also count towards their requalification in the March 2023 to February 2024 cycle.

KrisFlyer miles that expire in 2022 will be automatically extended by six months at a time, at the end of each month.

Rewards earned from the PPS Rewards and KrisFlyer Milestone Rewards that are due to expire in 2022 will be extended to 31 December 2022. This offers members greater flexibility in utilising the rewards earned from flying with SIA.

From February 2022, KrisFlyer members also enjoy additional benefits when they fly on Scoot.

PPS Club and KrisFlyer Elite tier members can enjoy priority boarding, complimentary standard seat selection, an additional 5kg check-in baggage allowance with any baggage purchase, as well as 25% more KrisFlyer miles for every mile earned when travelling on Scoot flights.

In addition, KrisFlyer members can earn 2.5 Elite miles for every KrisFlyer mile earned from flying on Scoot, up from 1 Elite mile for every KrisFlyer mile. This enables members to upgrade to higher KrisFlyer membership tiers at a faster rate.

SIA has also launched two new KrisFlyer Milestone Rewards, which can be enjoyed by members who have earned 1,000 and 2,500 Elite miles.

QANTAS and Jetstar Airlines Adjust Third Quarter Flight Capacity Settings

January 16, 2022 / WIL BALDWIN

Qantas and Jetstar are adjusting flying levels to better match travel demand in light of the sudden growth in COVID-19 cases. The Qantas Group now expects domestic capacity for the third quarter of FY22 to be at around 70 per cent of pre-COVID levels, down from the 102 per cent that had been planned. The schedule changes are focused on reducing frequency of services and size of aircraft to minimise inconvenience for passengers as much as possible.

The Group’s total international capacity for the same period will fall from 30 per cent to around 20 per cent of pre-COVID levels. This reduction is driven by increased travel restrictions in countries like Japan, Thailand and Indonesia and is mostly impacting Jetstar’s leisure routes. Other markets – such as London, Los Angeles, Vancouver, Johannesburg and India – continue to perform well.

Customers will be contacted directly from late January if their booking is impacted by cancellations and offered alternative flights that in most cases are likely to be a difference of a few hours if travelling domestically.

Qantas and Jetstar continue to have 100 per cent of their available Australian-based crew stood up, which has helped to minimise the resourcing impacts of some needing to self-isolate during the summer peak. This 100 per cent crewing level will be maintained despite the capacity reductions announced today, giving both airlines a significant buffer to manage ongoing isolation requirements and resulting in a more reliable schedule for passengers.

An assessment on the financial impact of these changes will be given at the Group’s half year results in late February, by which time a clearer picture will have emerged on swing factors such as actual demand levels; potential loosening or tightening of travel restrictions in countries overseas; and consumer response to the reopening of Western Australia next month. No material adjustments have been made to capacity expectations for Q4 FY22.

To give customers more confidence when they book international and domestic flights, Qantas has extended Fly Flex, which enables customers to change their travel dates as often as they need, fee-free (a fare difference may apply).

Embraer Announces Earning Results for Third Quarter 2021

November 5, 2021 / WIL BALDWIN

São Paulo, Brazil, November 5, 2021 – Embraer (NYSE: ERJ) announced the company’s operating and financial information on a consolidated basis in United States dollars (US$) in accordance with IFRS. The financial data presented in this document as of and for the quarters ended September 30, 2021 (3Q21), June 30, 2021 (2Q21) and September 30, 2020 (3Q20), are derived from the unaudited financial statements, except annual financial data and where otherwise stated.

HIGHLIGHTS

• Embraer delivered 9 commercial jets and 21 executive jets (14 light / 7 large) in 3Q21, bringing the year-to-date deliveries to 32 commercial jets and 54 executive jets (36 light /18 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of 3Q21 was US$ 16.8 billion;

• Revenues in 3Q21 reached US$ 958.1 million, representing year-over-year growth of 26.3% compared to 3Q20, with double digit growth in all segments;

• Excluding special items, adjusted EBIT and EBITDA were US$ 35.7 million and US$ 79.2 million, respectively, yielding adjusted EBIT margin of 3.7% and adjusted EBITDA margin of 8.3%. In the first nine months of 2021, adjusted EBIT margin was 3.8% and adjusted EBITDA margin was 8.9%;

• Adjusted net loss (excluding special items and deferred income tax and social contribution) in 3Q21 was US$ (33.9) million, with adjusted loss per ADS of US$ (0.18);

• Embraer generated free cash flow in 3Q21 of US$ 21.3 million, and in the first nine months of 2021 free cash usage was US$ (160.2) million. The positive free cash flow in 3Q21 represented the first time in more than 10 years the Company generated cash in the usually seasonally weak third quarter. The free cash flow in both periods represented a significant improvement compared to the prior year periods on better profitability and working capital efficiencies, particularly with respect to inventory management;

• The Company finished the quarter with total cash of US$ 2.5 billion and net debt of US$ 1.8 billion;

• Given better-than-expected free cash flow performance over the first nine months of 2021, Embraer is updating its guidance for free cash flow without M&A or divestitures to a range of US$ 100 million or better, from the prior range of US$ (150) million to breakeven. The Company reiterates its other financial and deliveries guidance for 2021 of commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 aircraft, consolidated revenues in a range of US$ 4.0 to $4.5 billion, adjusted EBIT margin of 3.0% to 4.0%, and adjusted EBITDA margin of 8.5% to 9.5%.

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.

Spirit AeroSystems Reports Third Quarter 2021 Results

November 4, 2021 / WIL BALDWIN

Spirit AeroSystems Reports Third Quarter 2021 Results

Delivered 250 shipsets, compared to 206 in Q3 2020; delivered 47 737 shipsets in Q3 2021 compared to 15 in Q3 2020
Revenue of $980 million in Q3 2021, compared to $806 million in Q3 2020
Cash guidance unchanged: full-year 2021 cash used in operations is expected to be between $(50) to $(150) million; full-year 2021 free cash flow* is expected to be between $(200) and $(300) million
EPS of $(1.09) in Q3 2021 compared to $(1.50) in Q3 2020
Established business divisions to focus on key growth markets: Commercial, Defense & Space, and Aftermarket; Segment reporting change beginning Q4 2021

Spirit-Aerosystems-Q3-2021

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.

JetBlue Airways (JBLU) Reports Q3 Loss, Tops Revenue Estimates

October 26, 2021 / WIL BALDWIN

Story from zacks.com

JetBlue Airways (Nasdaq: JBLU) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $1.75 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 36.84%. A quarter ago, it was expected that this airline would post a loss of $0.73 per share when it actually produced a loss of $0.64, delivering a surprise of 12.33%.

Click the link below to read the full story!

https://finance.yahoo.com/news/jetblue-airways-jblu-reports-q3-122512708.html

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