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LATEST NEWS

Friday, July 10th, 2020

Rolls-Royce burns through £3 billion in first half of 2020

With the effects of the COVID-19 pandemic seeing flight hours of Rolls-Royce engines halved, the British company has advised that it has already burned through £3 billion (US$3.8 billion) and anticipates that a further £1 billion (US$1.3 billion) of outflow will transpire in the second half of the year.

For the months of April through June, flying hours for its engines fell 75 percent. While still having £8.1 billion (US$10.5 billion) available, Rolls-Royce is now looking at options to strengthen its balance sheet, according to Warren East, the company’s CEO. He told reporters this Thursday that: “The COVID-19 pandemic has created a shock across the entire civil aviation industry,” adding: “Across the first half of this year, widebody engine flying hours, which we get paid for under our servicing contract, were half of what they were last year.”

The company has already announced that 9,000 jobs will go, predominantly from its civil aviation sector, but East warned that there may also be a need to close sites. He further cautioned that though engine flying hours may recover by up to 70 percent in 2021, engine delivery numbers would remain suppressed, indicating that the restructuring target would be to create free cash flow of approximately £750 million (US$975 million) by 2022. While some analysts believe that if the COVID-19 pandemic rages on or a recovery in the industry is delayed then Rolls-Royce may need to turn to the government for help, East was more pragmatic: “The number one thing governments all around the world can do to help this industry is to get people flying again.”

AerCap raises US$3 billion of funding in second-quarter 2020

AerCap has announced its major business transactions during the second quarter of 2020:

AirCap has raised funding of US$3 billion, including US$2.5 billion of unsecured bonds during the second-quarter. The company purchased two new aircraft, Airbus A320neo Family aircraft, and executed sale transactions for nine owned aircraft, including three Airbus A320 Family aircraft, five Boeing 737NGs and one Boeing 757 aircraft.

AerCap has signed lease agreements for ten aircraft, including one widebody-aircraft and nine narrowbody-aircraft.

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German Bundeswehr renews service contracts for Heron 1 systems in Afghanistan and Mali

Airbus Defence and Space and the Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support (BAAINBw) have signed a renewed service contract agreement for Heron 1 unmanned aerial systems (UAS) in operation in Afghanistan and Mali.

In Afghanistan, Heron 1 Services was extended in March 2020, for the period June 2020 / May 2021. It has successfully logged up more than 46,000 flight hours in over 4,100 operational flights. Also, in March this year, the German Air Force passed the milestone of ten years of Heron 1 operations in Afghanistan, with a first operational flight dating back to  March 17, 2010.

Comparably, in Mali, Heron 1 services has also been extended for the period August 2020 / July 2021 (with an option for August 2021 / July 2022). It had logged more than 11,500 flight hours in over 1,200 operational flights. The system’s first flight in Mali dates back to November 1, 2016 after the first service contract was signed in July 2016.

MTU Aero Engines' Supervisory Board extends contract for Michael Schreyögg

The Supervisory Board of MTU Aero Engines has extended the contract for Chief Program Officer Michael Schreyögg for a further five years until the end of June 2026. The decision was made unanimously by way of written circular resolution.

Schreyögg has been a member of the MTU Executive Board since July 2013 and joined the company in 1990. As Chief Program Officer he will oversee program management, marketing and sales and the global service locations of MTU.

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Passenger volume at Munich Airport shrinks by two thirds compared with 2019

After years of continuous traffic growth, the global spread of COVID-19 has caused passenger numbers at Munich Airport to drop substantially: passenger volume fell by around 15 million to just under 7.8 million in the first half of 2020 – a reduction of two thirds compared to the previous year’s level. The number of aircraft movements dropped from over 200,000 take-offs and landings to around 87,000 – a fall of 57%. The volume of air cargo carried was 87,000 metric tons and has therefore halved compared with the previous year’s figure.

In the second quarter of 2020, passenger traffic at Munich Airport almost came to a standstill owing to the global travel restrictions. The volume of passengers decreased by 98% compared with the previous year. The number of take-offs and landings fell by around 92% in this period. As a result, the airport recorded the lowest quarterly result since it opened in 1992. With a 78% fall, air cargo saw slightly less of a reduction in the second quarter. Special flights with cargo planes that transported medical supplies to Munich made an impact here.

The effects of the coronavirus pandemic are reflected in the traffic statistics for April and May in particular. During these months, the passenger figures amounted to only around one percent of those from the previous year. Since mid-June, when the travel restrictions within the EU were lifted, a slow upward trend is becoming apparent. Where only a few thousand passengers per week were counted in April, numbers were already rising above 100,000 in the first week of July. Now the Bavarian state capital is connected to more than 120 destinations around the world once again. In addition to 13 connections within Germany and numerous European destinations, travel to seven long-haul destinations in North America (Chicago, Los Angeles, Newark, San Francisco, Washington, Montreal and Toronto) and five long-haul destinations in Asia (Abu Dhabi, Delhi, Doha, Dubai and Seoul) are on offer. There are plans to add further destinations in the Far East in particular this summer.

Jet Aviation launches hullo Aircrew in the United States

Jet Aviation has launched hullo Aircrew, its new collaborative software platform for flight-crew staffing services, in the United States. Collaboration between the two companies began in 2019 with Jet Aviation’s investment in hullo Aircrew’s technology. The new aircrew staffing platform already has over 3,000 crew registered globally.

The hullo Aircrew platform provides a fast and simple means to connect operators with freelance and contract crew members. It also helps crew members find their next job quickly and easily, while offering a custom dashboard that allows crew to review their trip requests, manage their calendar, view notifications of expiring documents and gain access to reduced-cost training courses — in addition to faster payment.

“Through the platform, thousands of crew can be contacted with a few clicks of the mouse,” says Steve Payne, Co-Founder and COO of hullo Aircrew. “Moreover, the coverage is global and always available.”

Offered free of charge to all crew members, Jet Aviation Staffing is pleased to provide its clients the opportunity to tap into top qualified talent across the globe with ease by offering the most advanced technology and highest service levels.

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Air Partner completes sale of three B747-400s for Corsair

Air Partner Remarketing, a division of global aviation services group Air Partner plc, has acted as the exclusive remarketing agent on behalf of Corsair to sell three B747-400 aircraft plus two spare engines.

The aircraft were sold to FTAI Aviation (Fortress Aviation and Investors LLC). The aircraft serial numbers were 26880, 26877 and 26875. These aircraft were manufactured in 1992 and are powered by PW4056 engines.

New VP Aerospace joins Hardide Coatings

Advanced surface coating technology company, Hardide Coatings has appointed Rob Holmes as VP Aerospace as the company targets strategic growth in the aerospace and defence sectors.

Holmes joins from Nasmyth Group where he spent ten years in senior business development positions in the global aerospace industry. Most recently he was Aerospace Development Executive responsible for the long-term development of global aerospace markets, specialising in the U.K., EU and Asia Pacific.

Rob will be responsible for developing business opportunities in the aerospace and defence sectors for Hardide Coatings’ range of nanostructured tungsten carbide/tungsten metal matrix composite coatings.
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