Wednesday, August 17, 2011
AviTrader Daily Aviation News
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January 22, 2018 · 134 Views
Commenting at the Airline Economics Conference in Dublin on Monday, January 22, four of the major carriers, Delta Air Lines, American Airlines, United Airlines and Dubai-based Emirates, confirmed they will not be hedging fuel bills, despite a recent rise in the cost of oil. For the first time in three years, the global Trent benchmark has risen above US$70.00 a barrel.
Amelia Anderson, managing director and assistant treasurer at American Airlines commented that “We have not hedged since the merger and our philosophy has not changed. We are the largest purchaser of jet fuel and we think we would be bidding against ourselves. The market is quite thin beyond 12 months,” adding: “I don’t envision our fuel hedging practice to change in the short term.” The merger in question was the 2013 amalgamation of American Airlines and United Airlines.
Fuel hedging is a process where high-fuel-consumption companies such as airlines enter into hedging contracts to mitigate their exposure to future fuel prices that may be higher than current prices, and/or to establish a known fuel cost for budgeting purposes.
The effectiveness of hedging depends on the future price of fuel. An airline can place hedges based either on the future price of jet fuel or crude oil. Additional factors, including difficulties relating to refinery capacity, can also affect the prices of crude oil and jet fuel.
One notably successful period of fuel hedging occurred between 1998 and 2008 when Southwest Airlines saved over US$4 billion through a successful strategic fuel-hedging policy.
August 15, 2011 · 85 Views
Comlux Aviation Services, based in Indianapolis, announced the promotion of Stephen Law to Maintenance Supervisor. Stephen Law has over 23 years of aviation sales experience and held prior positions of A&P Mechanic for AMR Combs, Project Supervisor for Bombardier Aerospace and Maintenance Supervisor for Indianapolis Jet Center.
August 15, 2011 · 63 Views
Kellstrom Defense Aerospace, a division of Kellstrom Industries, has been awarded a contract by Northrop Grumman Corporation to support its prime contract with the United States Air Force (USAF) for Total System Support Responsibility (TSSR), providing operational support for the 17 E-8C Joint STARS aircraft at Robins Air Force Base, Ga. This award is for a five year duration and will include yearly renewals. For the last ten years, Kellstrom has supported the T-3 test bed aircraft for Northrop Grumman under a similar program from its base in Melbourne, FL.
August 15, 2011 · 58 Views
Air Lease Corporation (ALC) have finalized an order for 14 Next-Generation 737-800s, with options for four more, and five 777-300ER (extended range) airplanes. It was previously posted on the Boeing Orders & Deliveries website, attributed to an unidentified customer. The order marks the completion of part of an agreement announced during the Paris Air Show in June. At list prices, the order is valued at $2.5 billion.
August 15, 2011 · 97 Views
Defence and security company Saab AB’s acquisition of the U.S. Company Sensis Corporation (Sensis), announced on 29 June 2011, is completed. The acquisition creates a stronger foundation for growth in the North American market for the Saab Group. Requisite reviews by the U.S. Trade Commission according to the antitrust laws as well as by the Committee on Foreign Investment in the United States (CFIUS) have been accomplished and the former Sensis Corporation has been renamed to Saab Sensis Corporation. The company will continue operations in the U.S. as a subsidiary within the Saab Group.
Saab Sensis has a workforce of approximately 600 employees and services a global base of more than 60 customers located in more than 35 countries across six continents. Its customers include 54 of the world’s 100 largest airports. The company generated revenues of about US$173 million in fiscal year July-June 2009/2010 ($158 million in 2008/2009) and EBIT of about $4.0 million in fiscal year July-June 2009/2010 ($7.2 in 2008/2009).The consideration amounted to approximately $150 million (MSEK 975) and an earn-out fee of maximum $40 million (about MSEK 260) by 2014 which is dependent on the achievement of various conditions. The maximum total consideration amounts to approximately0 $190 million (MSEK 1,235). Saab will use existing cash to fund the acquisition.
August 15, 2011 · 98 Views
AAR CORP. has been awarded an eighteen month contract from Virgin America to provide maintenance and installation services for the airline’s growing fleet of Airbus 320 series aircraft. Through its Aircraft Services facility in Miami, Fla., AAR will perform comprehensive heavy maintenance “D-Checks” on Virgin America’s existing fleet of aircraft and install seating and advanced in-flight entertainment systems (IFEs) on their upcoming aircraft deliveries from Airbus. The Virgin America aircraft feature some of the most sophisticated and feature-rich IFEs in use today, providing passengers with in-flight access to satellite TV, movies, games, Internet and personal mood lighting.
August 15, 2011 · 111 Views
Sean O’Connor has been appointed General Manager for SR Technics America. He assumed his new position on August 1, 2011. As General Manager, Sean will be responsible for driving the expansion of SR Technics’ business in the Americas.
August 16, 2011 · 118 Views
At the International Aviation and Space Salon MAKS-2011 Sukhoi Civil Aircraft Company and Indonesian regional carrier PT Sky Aviation signed the contract for the purchase of 12 Sukhoi Superjet 100/95B aircraft. At this years Le Bourget Airshow Sukhoi Civil Aircraft Company and PT Sky Aviation signed the Heads of Agreement (HOA). The order is valued at $379.2 million at list prices. Deliveries are scheduled to begin in 2012.
August 16, 2011 · 235 Views
FL Technics is expanding its capabilities by launching cabin modification and reconfiguration services on two brand new long-range Boeing 737-800 and cabin refurbishment service on Boeing 737-300. Two Boeing 737-800 aircraft reached the FL Technics hangar straight from the manufacturer and underwent full cabin interior refurbishment on the 4th of August. FL Technics specialists equipped the aircraft with brand new business and economic class seats, installed an internal audio system (IFE) for the business class facilities, revised emergency floor path lighting and performed all other cabin refurbishment services. All modification and reconfiguration work was carried out in the FL Technics-owned facilities in Vilnius.
August 16, 2011 · 119 Views
Boeing announced at the Moscow Air Show that it has signed Memoranda of Understanding (MOU) to cooperate toward increasing the efficiency and capacity of leading Russian airports. Boeing will work with the Basel Aero Company, operator of Sochi Airport in Basel and with Moscow State University of Geodesy and Cartography. The Boeing Flight Services Air Traffic Management (ATM) group and Jeppesen, a Boeing subsidiary, will help the airports analyze and optimize their ground operational plans and introduce new procedures with the goal of improving the safety and efficiency of Russian airspace.
Airport and airspace capacity can be significantly increased using the existing capabilities of the systems on-board today’s commercial jetliners combined with air traffic management technologies. Upon completing definitive agreements, Boeing’s skilled specialists will work with the Russian organizations in modernization initiatives including increasing the capacity of the largest Russian airports and transforming the overall design of the air navigation system in Russia prior to the Sochi Winter Olympic Games.
August 16, 2011 · 119 Views
SuperJet International (SJI) and Volga-Dnepr Technics, part of Russia’s Volga-Dnepr Group, have signed a Letter of Intent for the provision of maintenance services for the Sukhoi Superjet100 (SSJ100) aircraft. The agreement was signed during the International Aviation and Space Salon MAKS 2011 in Zhukovsky, Moscow Region. This LoI confirms the partnership established between SJI and Volga-Dnepr Technics that with its certified aircraft maintenance, repair and overhaul (MRO) facility at Ulyanovsk Vostochny airport has joined the SJI’s MRO network of Authorized Service Centers to provide maintenance services to SSJ100 Operators. In Ulyanovsk, Volga-Dnepr Technics is establishing a state-of-the-art multi-functional MRO facility to meet current international operating standards also benefiting from its location within a Special Economic Port Zone.
August 16, 2011 · 164 Views
The Qantas Group released that it would acquire up to 110 Airbus A320 aircraft, plus 194 purchase rights and options, to support fleet renewal and growth for the next 10 to 15 years. Smart investment in aircraft is part of the Qantas Group’s five-year plan to build a truly modern, customer-focused and competitive global airline business.
The Group has committed to order up to 110 A320s (106 confirmed from Airbus and four additional aircraft, either purchased or leased, subject to availability). These aircraft will facilitate capacity growth across Jetstar’s domestic and international operations, the launch of Jetstar Japan and the establishment of Qantas’ new premium Asia-focused airline – while the purchase rights and options provide the Group with significant flexibility to pursue further growth opportunities on favourable commercial terms.
In addition, as a result of the new strategy and network changes for Qantas international announced on August 16th, Qantas will defer the delivery of its final six Airbus A380s by up to six years, driving substantial capital cost savings. Qantas’ A380 fleet will reach 12 aircraft by the end of 2011 and 14 aircraft by mid-2013. The remaining six A380s will be delivered to coincide with the retirement of Qantas’ last six Boeing 747ER aircraft.
Qantas also announced that it will invest almost $400 million in new international lounges, new inflight entertainment and aircraft refurbishment to improve the customer experience.
August 16, 2011 · 89 Views
The Qantas Group, Japan Airlines (JAL) and Mitsubishi Corporation announced the launch of Jetstar Japan – a new domestic airline that will bring more low airfares to customers in Japan. The Qantas Group, JAL and Mitsubishi Corporation will each hold 1/3 share in the new company (voting-rights-basis). Jetstar Japan will commence domestic operations by the end of 2012 and expects to fly from Tokyo (Narita) and Osaka (Kansai International), with other destinations under consideration including Sapporo, Fukuoka, and Okinawa. Jetstar Japan also plans to ultimately offer short haul international services to key Asian cities making travel more accessible and appealing to millions more people. The airline will launch with an initial fleet of three new Airbus A320 aircraft, configured for 180 customers in a single class, growing to 24 aircraft within its first few years. Total capitalization commitment for the new airline is up to JPY 12 billion.
Jetstar Japan was officially launched in Tokyo on August 16th by the President of Japan Airlines, Mr. Masaru Onishi, Executive Vice President & Group CEO, Industrial Finance, Logistics & Development Group Mitsubishi Corporation, Mr. Hideshi Takeuchi, and Jetstar Group Chief Executive Officer, Mr. Bruce Buchanan.
August 16, 2011 · 76 Views
Airbus, Goodrich Corporation and VSMPO-AVISMA Corporation, the Russian titanium manufacturer, have signed a long-term agreement for the supply of titanium forgings used for the manufacturing of the A350-1000’s main landing gears. The contract will cover supply until 2020. Goodrich is to develop and provide the main landing gear, based on its experience in incorporating the latest technologies and materials, especially VSMPO’s high-strength titanium alloy. VSMPO has been awarded 100% share in the titanium forgings supplies. VSMPO-AVISMA Corporation will potentially also machine the related titanium forging in the future in order to develop a vertically integrated titanium supply chain, starting from raw materials to finished products.
August 16, 2011 · 62 Views
Sigma Labs received a fourth contract from Messier-Bugatti-Dowty (MBD) to apply Sigma Labs’ In-Process Quality Assurance (IPQA) software to certain critical aspects of MBD’s landing gear manufacturing. This recent contract from MBD’s Canadian division follows three previous contracts from MBD’s UK Division to further introduce our IPQA to specifically address MBD’s next-generation manufacturing needs.