Tag: vistara

Customers Harness Boeing’s Services Solutions to Support Operations and Growth

July 20, 2020 / WIL BALDWIN

Leading carriers, including Alaska Airlines, Japan Airlines, and All Nippon Airways, choose Boeing Global Services supply chain support despite current market challenges
Digital solutions enhance operational efficiency with data-driven analytics

Boeing [NYSE: BA] announced a number of services orders and agreements to support international customers, streamline their operations and enhance their future growth. These supply chain solutions will simplify customers’ asset and maintenance management, inventory and operating costs, while improving parts availability. The agreements for Boeing’s digital solutions will provide cost savings fleet-wide, enhance airline crew situational awareness and increase operational efficiency. “As airlines and operators continue to respond to the current challenges facing the global air travel industry, our partners are moving forward, integrating creative solutions to continue connecting people around the world,” said Ted Colbert, president and CEO, Boeing Global Services. “Boeing is working closely with our customers around the world, delivering the customized solutions they need to improve operational efficiency, support their fleets, and reduce their costs.”

Supply chain agreements include:

Alaska Airlines signed its largest consumable and expendable services agreement, with a multiyear agreement for solutions which include a Tailored Parts Package and Quick Engine Change kits. The agreement supports Alaska’s fleet of Boeing 737 airplanes and provides price and availability benefits that allow the airline to streamline its maintenance operations. The Tailored Parts Package consists of 2,900 part numbers. Throughout the term of this three-year agreement, Boeing anticipates the shipment of nearly 800,000 parts and four Quick Engine Change kits, which will be used to configure spare engines to allow for quick return of an airplane to service when an engine needs to be repaired or replaced.

All Nippon Airways, the largest airline in Japan, announced a partnership with Boeing Global Services to install a 787-9 galley facility in its new training center to enhance crew training opportunities. All Nippon Airways also signed an agreement for ten 767 Quick Engine Change kits.

Agreements for data-driven solutions include:

Xiamen Airlines, Japan Airlines, and All Nippon Airways have signed agreements to acquire the Optimized Maintenance Program that combines advanced data analytics with Boeing’s engineering expertise to help airlines achieve greater airplane availability and more efficient maintenance operations. To date, the Optimized Maintenance Program has been delivered to 24 airlines and approved by their local regulatory agencies to support a total of 2,519 Boeing airplanes across several models. Xiamen is the first airline in China to adopt the program.

A number of customers in China, including Suparna Airlines, Zheijiang Loong Airlines, West Air, Guangxi Air, Urumqi Air, and Air Changan signed agreements for Boeing digital solutions that enhance operational efficiency, further streamline paperless operations in the flight deck, and optimize flight planning capabilities. Boeing provides tailored charting for more than 74 percent of the commercial aviation market; supplies digital navigation data to more than 58 percent of global airlines; and delivers flight deck solutions to 67 percent of the world’s airlines. Overall, two-thirds of all global airline flights use Jeppesen FliteDeck Pro electronic flight bag (EFB) navigation and charting applications on a daily basis.

Vistara, an Indian full-service carrier and a joint venture of Tata group and Singapore Airlines, has added to their suite of Boeing Global Services crew solutions with a multiyear agreement for Crew Pairing to improve operational and readiness efficiency and reduce airline costs. The solution will help optimize crew planning operations for approximately 1,100 crew members across Vistara’s 40 Boeing and Airbus aircraft.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. A top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 160,000 people worldwide and leverages 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.

Vistara Selects Airbus FHS-TSP Solution to Maintain A320 Fleet

September 25, 2019 / WIL BALDWIN

Vistara, India’s full-service carrier and a joint venture of Tata Sons and Singapore Airlines, has signed a long-term contract to partner with Airbus for their Flight Hour Services – Tailored Support Package (FHS-TSP). The contract will cover engineering and maintenance for 62 aircraft, including 23 existing ones.

The FHS-TSP contract provides integrated and guaranteed services ranging from the supply and repair of components to the manufacturer’s unique Fleet Technical Management service. An on-site Airbus team will support the daily maintenance activities, including spares, warehousing and engineering to ensure the highest standards of aircraft technical dispatch and operations.

Under the agreement, Airbus will offer its expertise in the areas of maintenance, engineering, reliability and supply chain management. Airbus will ensure a) timely availability of spare parts b) maintenance planning c) compliance with airworthiness advisories as well as technical records on all aircraft.

“We are delighted to announce the partnership with Airbus to avail the advantages of their TSP programme. Vistara is committed to the highest standards of operational efficiency and innovation and the adoption of this service is part of our continual efforts to maximise customer satisfaction,” said Sisira Kanta Dash, Senior Vice President – Engineering, Vistara.

“Airbus Services’ combined aircraft engineering capabilities, expertise in maintenance operations and data analytics know-how will help Vistara to increase its competitiveness and secure its operations. This contract also reaffirms our commitment to expanding and deepening our Airbus Services footprint in India,” said Rémi Maillard, Head of Airbus Services.

Airbus provides a host of material and maintenance services, which go from initial provisioning and on-request solutions by Satair, Airbus’ 100% subsidiary, to ‘all-in-one’ solutions with material management, maintenance operations and engineering solutions through FHS-TSP. Leveraging Skywise’s digital platform capabilities, the latest applications optimizing aircraft availability include real- time health monitoring and predictive maintenance.

India’s Jet Airways Recovery Still On Shaky ground

February 21, 2019 / WIL BALDWIN

Feb 21 (Reuters) – India’s Jet Airways Ltd has approved a rescue deal by the lenders of the carrier reeling under a net debt of 72.99 billion rupees ($1.02 billion), but doubts linger over whether the bailout would help it clear dues on time.

The resolution plan will make Jet’s lenders its largest shareholders and fix a near 85 billion rupee funding gap.

Jet has been steadily losing market share to its rival and low-cost carrier IndiGo, which is owned by InterGlobe Aviation Ltd.

The airline has also seen its share price suffer as it navigated through several negotiations with its lenders and shareholders.

For an interactive graphic on the airline’s market value, click https://tmsnrt.rs/2V2ef8x

Jet takes the resolution plan to its shareholders on Thursday, where it will seek their approval to convert debt into 114 million shares.

Here are some major developments in Jet’s story:

Aug 3 – Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale

Aug 9 – Airline defers board meet for first-quarter results

Aug 11 – After State Bank of India chairman says Jet’s loan is on the bank’s watch list, Jet says it is regular in payment obligations to all banks

Aug 20 – Sources tell Reuters that private equity firm TPG Capital is considering investing in Jet, but is not close to finalising a deal

Aug 27 – Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years

Sept 6 – Jet says it paid salaries to 84 percent of its employees after reports emerge that pilots warned ‘non-cooperation’ over salary default

Oct 4 – Rating agency ICRA downgrades https://www.icra.in/Rationale/ShowRationaleReport/?Id=73861 the company’s long term loans and NCDs

Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report “speculative”

Oct 30 – U.S.-based Delta Air Lines Inc expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways

Nov 5 – Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways’ 24 percent stake, and merge Jet with Vistara

Nov 12 – Jet posts third straight quarterly loss

Nov 13 – Tata Sons begins due diligence to buy Jet, reports say

Nov 15 – Shares surge nearly 25 percent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet

Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made

Nov 22 – Independent director Ranjan Mathai resigns, citing rising pressure from other commitments

Dec 3 – Jet says it will stop providing free meals to most domestic economy class passengers from January

Dec 5 – Jet and Etihad Airways have been holding rescue talks with Jet’s bankers, sources tell Reuters

Dec 6 – Jet tells its pilot union it will clear all salary dues by April, a source tells Reuters

Dec 7 – ICRA cuts https://www.icra.in/Rationale/ShowRationaleReport/?Id=75657 Jet rating yet again

Dec 14 – Goyal’s penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters

Jan 2, 2019 – The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again

Jan 10 – Jet proposes to creditors that it will catch up with debt payments in arrears by September, and from April will meet debt payments as they come due, according to a document seen by Reuters

Jan 11 – Some aircraft lessors were prompted to explore taking back aircraft from Jet, people familiar with the matter told Reuters. Etihad is not “in any position to sink new equity into Jet at this juncture”, says a person familiar with Etihad’s position.

Jan 14 – Report states Goyal is likely to step down from the board and give up majority control

Jan 16 – TV channel reports that Etihad offered to buy Jet shares at a 49 percent discount and immediately release $35 million.

Jan 17 – Top creditor SBI says Jet’s lenders are considering a plan to resolve its debt issues, amid further reports that Goyal is willing to invest 7 billion rupees in the airline and pledge all his shares but wants to retain a 25 percent stake.

Jan 24 – India capital markets regulator says it has no “view” on relaxing norms for a Jet bailout

Jan 25 – Etihad appoints Alvarez & Marsal to conduct due diligence on Jet, sources tell Reuters

Jan 30 – Jet denies its aircraft had been grounded by GE Capital Aviation Services

Feb 1 – Jet agrees to most conditions set by Etihad Airways for a lifeline, a report says

Feb 8 – Airline grounds four aircraft after failing to make payments to lessors

Feb 14 – Jet’s board approves a rescue deal which will make its lenders its largest shareholders and fix a near 85 billion rupee funding gap

Feb 15 – Jet is seeking an $840 million bailout from shareholders and a state-backed fund, Business Television India reports

Feb 21 – International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources tell Reuters

($1 = 71.2325 Indian rupees)

(Compiled by Arnab Paul and Chris Thomas in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)

India’s Debt-laden Jet Airways’ Rocky Ride

January 11, 2019 / WIL BALDWIN

(Reuters) – Jet Airways Ltd, India’s biggest full-service carrier, has been under dark clouds for the most part of the past year, and several efforts are on to save the sinking airline.

While intense pricing competition, weak rupee and rising fuel costs have hurt Indian airlines like IndiGo owned by InterGlobe Aviation Ltd and SpiceJet Ltd, Jet Airways is in a league of its own.

Saddled with a debt of about 80.52 billion rupees ($1.14 billion) as of Sept. 30, Jet is desperately searching for a deal that could help mitigate its severe liquidity crunch. The airline has a market capitalisation of 28.81 billion rupees as of Friday’s close.

Here’s how Jet has fared:

May 3 – Jet shares fall 12.3 percent after InterGlobe Aviation reported a slump in net profit for March-quarter a day earlier

May 23 – Jet posts first quarterly loss in at least 12 quarters, says it has a negative net worth that ‘may create uncertainties’

Aug 1 – Media report says Jet asked employees to take an up to 25 percent cut in salaries as a part of a cost cutting measure

Aug 3 – Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale

Aug 9 – Airline defers board meet for first-quarter results

Aug 11 – After State Bank of India chairman says Jet’s loan is on the bank’s watch list, Jet says it is regular in payment obligations to all banks

Aug 13 – Airline reaffirms that it is considering various options to meet its funding requirements

Aug 15 – Report says U.S. private equity firm Blackstone Group LP is in talks to buy a stake in Jet’s frequent-flier loyalty programme JetPrivilege

Aug 20 – Sources tell Reuters that private equity firm TPG Capital is considering investing in Jet, but is not close to finalising a deal

Aug 27 – Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years

Sept 4 – Government plans relief package for airlines

Sept 6 – Jet says it paid salaries to 84 percent of its employees after reports emerge that pilots warned ‘non-cooperation’ over salary default

Sept 20 – Income Tax department conducts survey at Jet’s premises

• Over two dozen passengers on a Jet flight are treated for minor injuries after the plane loses cabin pressure

Oct 4 – Rating agency ICRA downgrades the company’s long term loans and NCDs, citing impact of steep increase in jet fuel prices, rupee depreciation, delay in implementation of liquidity initiatives

Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report “speculative”

Oct 30 – U.S.-based Delta Air Lines Inc expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways

Nov 5 – Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways’ 24 percent stake, and merge Jet with Vistara

Nov 12 – Jet posts third straight quarterly loss, chief executive officer Vinay Dube expresses confidence in overcoming current challenges

Nov 13 – Tata Sons begins due diligence to buy Jet, reports say

Jet executive says company is in talks with multiple parties for a stake sale in its loyalty program, and equity infusion in the airline

Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made

Nov 20 – Tata Sons may go slow on Jet deal after some directors from Tata’s board expressed concerns, according to media reports

Nov 21 – The airline says news on Naresh Goyal, Etihad discussing merger of JetPrivilege with Jet Airways is speculative

Nov 22 – Independent director Ranjan Mathai resigns, citing rising pressure from other commitments

Nov 26 – Report says Naresh Goyal may hand over Jet Airways ops to Etihad Airways

Dec 3 – Jet says it will stop providing free meals to most domestic economy class passengers from January, in its latest move to cut costs and boost revenues

Dec 5 – Jet and Etihad Airways have been holding rescue talks with Jet’s bankers, sources tell Reuters

Dec 6 – Jet tells its pilot union it will clear all salary dues by April, and gives them schedule outlining when the payments will be made, source tells Reuters

Dec 7 – ICRA cuts Jet rating yet again, cites delays in implementation of the proposed liquidity initiatives by Jet’s management

Jan 2 – The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again

Jan 10 – Jet proposes to creditors that it will catch up with debt payments in arrears by September and from April will meet debt payments as they come due, according to a document seen by Reuters

Jan 11 – Crisis talks between Jet and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter tell Reuters. Etihad is not “in any position to sink new equity into Jet at this juncture,” says a person familiar with Etihad’s position.

($1 = 70.5090 rupees)

(Compiled by Arnab Paul and Chris Thomas in Bengaluru; Editing by Gopakumar Warrier)

Image from http://www.jetwairways.com

Airbus & Boeing Deals @ Farnborough Airshow

July 18, 2018 / WIL BALDWIN

(Reuters) – Following is a summary of commercial aircraft deals announced by Airbus (AIR.PA) and Boeing (BA.N) at the Farnborough Airshow in southern England.

The two companies have so far signed deals worth more than $100 billion at current list prices. However, this is a gross number. Several of the deals firm up provisional ones, disclose previously unidentified buyers, or change existing orders, making it hard to gauge the level of new business.

AIRBUS DEALS – $57 billion

** GOLDEN FALCON AVIATION (for Wataniya Airways): confirmed an order for 25 Airbus A320neo jets for Kuwait’s Wataniya Airways worth about $2.8 billion at list prices.

** GOSHAWK AVIATION: a firm order for 20 Airbus A320neo jets worth about $2.2 billion at list prices.

** LEVEL (low cost of IAG): firm order for two A330-200s, worth around $477 million at list prices. https://bit.ly/2Jumrbv

** MACQUARIE FINANCE: ordered 20 A320neo jets in a deal worth about $2.2 billion at list prices.

** PEACH AVIATION: updated a previous deal for 10 A320neo, changing it to eight A320neo and two A321LR planes. The deal would be worth around $1.1 billion at list prices.

** SALAMAIR: signed an agreement to add six new A320neo aircraft to its fleet. The deal would be worth around $700 million at list prices.

** SICHUAN AIRLINES: ordered 10 Airbus A350 XWB jets, confirming a deal struck earlier this year. The order is worth about $3.2 billion at list prices.

** STARLUX AIRLINES: signed a preliminary deal for 17 Airbus A350 jets worth an estimated $6 billion at list prices.

** UGANDA AIRLINES: signed memorandum of understanding for two A330-800neo aircraft, worth around $0.5 billion at list prices.

** UNDISCLOSED CUSTOMER: order for 100 A320neo family aircraft worth about $11.5 billion at list prices.

** UNDISCLOSED CUSTOMER: a preliminary deal for 80 A320neo jets with a leasing firm. The deal would be worth around $8.8 billion at list prices.

** UNDISCLOSED CUSTOMER: has signed a commitment for six A330neo family aircraft. The deal would be worth around $1.6 billion based at current list prices. https://bit.ly/2uJJsBT

** U.S. AIRLINE START-UP: a commitment for 60 Airbus A220-300 aircraft worth about $5.5 billion at list prices.

** VISTARA: a letter of intent to buy 13 Airbus A320neo aircraft and commitment to taking a further 37 A320neos from leasing firms. The deal for all 50 aircraft would be worth around $5.5 billion at current list prices.

** VIVA AEROBUS: firmed up a deal for 25 incremental A321neo and 16 conversions of A320neos to A321neos. The 41 planes are worth around $5.3 billion at list prices.

BOEING DEALS – $82 billion

** AIR LEASE CORP (AL.N): committed to buy as many as 78 Boeing aircraft in a deal valued at $9.6 billion at list prices.

** AVIATION CAPITAL GROUP: order for 20 737 MAX 8 airplanes, valued at $2.34 billion at list prices.

** DHL: a $4.7 billion deal for four Boeing 777 Freighters, and purchase rights for seven additional freighters.

** GECAS: an agreement for 35 additional 737-800 Boeing Converted Freighters. The deal includes 20 firm orders and an option for 15 more. The deal for 35 aircraft would be worth around $3.6 billion at list prices. http://bit.ly/2mme2O5

** GOL AIRLINES: an order for 30 737 MAX 10 Airplanes, 15 MAX 8s. New agreement converts some MAX 8 orders to the larger MAX 10 model, adds 15 more jets. The deal for 45 aircraft would be worth $5.7 billion at current list prices.

** GOSHAWK AVIATION: an order for 20 737 MAX jets valued at $2.3 billion at current list prices.

** JACKSON SQUARE AVIATION: a firm deal to buy 30 737 MAX 8 aircraft, valued at about $3.5 billion at list prices.

** JET AIRWAYS: ordered an additional 75 737 MAX 8 airplanes valued at $8.8 billion at current list prices.

** QATAR AIRWAYS: finalised an order for five 777 Freighters, valued at $1.7 billion at list prices.

** SEACONS TRADING: ordered a Boeing Business Jet MAX 7, worth $96 million based on current list prices.

** TAROM ROMANIAN AIR TRANSPORT: a $586 million order for five 737 MAX 8 airplanes.

** UNITED AIRLINES (UAL.N): expanded its commitment to the 787 Dreamliner programme with an order for four more 787-9 planes, worth about $1.1 billion according to current list prices. https://bit.ly/2NXKYJw

** UNDISCLOSED CUSTOMERS: sign commitments for 40 High-Capacity 737 MAX 8s, 53 MAX 8 Airplanes, worth nearly $11 billion at current list prices

** VIETJET (VJC.HM): provisionally ordered 100 Boeing 737 MAX jets, worth about $12.7 billion at current list prices

** VISTARA: confirmed an order for six Boeing 787-9 Dreamliners, with an option to buy four more. The deal for the 10 planes would be worth about $2.8 billion at list prices.

** VOLGA DNEPR: committed to buying 29 of Boeing’s 777 freighter aircraft and five of its 747-8 freighter, in a deal worth about $11.8 billion at list prices.

(Compiled by Joao Manuel Mauricio, Katarzyna Piasecka and Anna Pruchnicka in Gdynia; Editing by Mark Potter)

Customers Harness Boeing’s Services Solutions to Support Operations and Growth

Vistara Selects Airbus FHS-TSP Solution to Maintain A320 Fleet

India’s Jet Airways Recovery Still On Shaky ground

India’s Debt-laden Jet Airways’ Rocky Ride

Airbus & Boeing Deals @ Farnborough Airshow

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