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Tuesday, July 28th, 2020

Ryanair share price suffers sharp drop after it releases pessimistic traffic outlook

Shares in Ryanair tumbled 8% as a consequence of Europe’s largest low-cost carrier announcing that it has reviewed its annual passenger target downwards by 25%, despite the figures for the lockdown quarter of April-June coming through at better-than-expected levels.

Having cut 99% of its capacity as a consequence of the COVID-19 pandemic, the carrier posted a post-tax loss of €185 million (US$216.54 million) for the April-June quarter, the company’s first financial quarter for 2021-22.

Projections now show the carrier anticipates to fly 60 million passengers by March 31 2021, as opposed to a previously estimated 80 million, both figures massively down from the 149 million passengers it flew last year.

“Our full-year guidance of 60 million passengers is tentative at this point in time and it could go lower,” Group Chief Executive Michael O’Leary announced in a video presentation. “A second wave of COVID-19 cases across Europe in late autumn ... is our biggest fear right now,” he added. In addition to hub closures at Frankfurt, Dusseldorf and Berlin, unless cuts are agreed by staff, Spain and Italy hubs will also close.

The latest changes to British quarantine regulations in relation to passengers returning from Spain has further hit Ryanair. Revenue was down 95% in the first quarter, while costs were down by 85%, but it anticipates flying 60% of its normal schedule in August and 70% in September, while operating at 70% capacity for the months of August and September, according to O’Leary.


Jet Maintenance Solutions becomes member of EBAA

Jet Maintenance Solutions (JET MS), a global provider of integrated aircraft maintenance, repair and overhaul solutions for business and regional aviation has become a member of the European Business Aviation Association (EBAA), the leading organization for operators of business aircraft in Europe.

Since the foundation of Jet Maintenance Solutions in 2007, the company strives to provide its clients with exceptional service, quality and cost-effective solutions for their private and business jets. Having completed significant projects like providing 7800 landing inspection for Bombardier CL604, designing and fitting interiors to the most luxurious jets found in the sky, Jet Maintenance Solutions has strengthened its position as a one-stop shop for high-quality, custom tailored business and regional aircraft maintenance company.

Stabilization package of Belgian federal government and Lufthansa pave way for turnaround of Brussels Airlines

The Belgian Federal Government, Lufthansa and Brussels Airlines have reached an agreement securing the future of Belgium’s home carrier and herewith the long-term development of the airline.

The stabilization package of €290 million from the Belgian Federal government and the €170 million financial support of Lufthansa cover parts of the losses incurred by Brussels Airlines as a consequence of the COVID-19 crisis and secures at the same time tens of thousands of direct and indirect jobs that are linked to the activities of Brussels Airlines.

The stabilization measures allow Brussels Airlines to overcome the present crisis and to continue operating its flights to generate sufficient funds to reimburse the loan.


AAR awarded MRO contract with Royal Netherlands Air Force to service F-16 jet fuel starter

AAR has been awarded a three-year contract by the Royal Netherlands Air Force (RNLAF) to perform maintenance, repair and overhaul on F-16 jet fuel starters.

AAR will service the jet fuel starters in its component repair facility in Amsterdam, where AAR has been supporting European Participating Air Forces (EPAF) for over 30 years as a prime provider or subcontractor for repair management, component maintenance, supply chain and depot services.

AVIAA enhances supplier portfolio with New World Aviation

AVIAA, the global group purchasing organization for business aviation, announced the broadening of its maintenance services available to members through a new strategic partnership with New World Aviation based in Allentown, Pennsylvania.

Conveniently located at the Lehigh Valley International Airport just outside of the busy New York City / Teterboro / Philadelphia corridor, established in 1998 and privately owned, New World Aviation has evolved into an elite provider of aircraft charter, maintenance, and management services in the Northeast United States.  An FAA Part 145 Certified Repair Station, its MRO expertise focuses on Gulfstream, Bombardier Challenger and Learjet; Dassault Falcon and Hawker business jet models.

New World Aviation joins AVIAA’s global network of MRO partners which also includes ACC Columbia Jet Service (Germany), Volare Aviation (U.K.) and Constant Aviation (U.S.A) with whom AVIAA recently expanded its relationship to include Mobile AOG Services to assist their members across the U.S.

To support the growing network of supply partners for its entire portfolio, AVIAA has appointed Scott White as Vice President-Supplier Relations. White brings more than ten-years of experience as a director of global sales at Universal Weather and Aviation.


Lufthansa returns to New York’s JFK International Airport with flights to and from Frankfurt

The Lufthansa Group continues to ramp up its services to the United States, resuming flights to its key, global gateways. On Monday, July 27, the Group’s flagship carrier, Lufthansa, resumes service to New York’s JFK International Airport, operating five weekly flights to and from the airline’s largest hub in Frankfurt, Germany.  Lufthansa is continuing to meet the demand of its loyal customers throughout the United States and is now connecting the metropolitan New York region to its growing network of international destinations that are slowly easing travel restrictions.

The resumed route will operate out of New York’s JFK on Mondays, Wednesdays, Fridays, Saturdays and Sundays, using an Airbus A330-300 with a three-class configuration of Business, Premium Economy and Economy classes. Initially, flights will operate five times per week from July27 through August 30. Beginning August 31 until October 24, the end of the summer schedule, the flights increase to one daily flight each week.

Trive Capital Partners with Field Aerospace through structured capital investment

Trive Capital (Trive), the Dallas-based private equity firm, has announced the recent partnership with Field Aerospace (Field). Field operates out of three facilities located in the U.S. and Canada, specializing in aircraft integration, engineering, modification, and support services for government, aerospace, and defense customers.

The company has a 70+ year operating history in aircraft modification and parts manufacturing with a focus on special-mission aircraft including the DHC-8, Challenger, and Gulfstream platforms. As part of the transaction, Trive provided a structured capital solution to buy out minority shareholder and former Chairman, Dan Magarian, and to support future growth initiatives of the business.

“The directors and shareholders of Field are delighted to welcome Trive” said Field president and CEO John Mactaggart. “When we purchased Field Aviation in 2012 and ASES in 2015, we planned further acquisitions to enhance the organic growth of Field. Trive not only adds welcome expertise to the leadership of the company but will bring a fresh perspective to Company growth and open further acquisition opportunities. The remaining original shareholders see this as a logical step in the growth of Field.”


Panasonic Avionics appoints Joe Bentley as CTO Lake Forest

Panasonic Avionics Corporation (Panasonic) has announced the appointment of Joe Bentley as Chief Technology Officer.

Bentley will be responsible for leading all aspects of the company’s software and systems engineering teams, cloud, hardware, and IT/security.  He will serve as a key member of Panasonic’s executive team and be directly responsible for an organization of over 800 employees spread across Panasonic’s Lake Forest, California headquarters, as well as the Bay Area office and other global locations.

Bentley was previously Senior Vice President, Engineering at Hulu where he led its 700-person engineering, program, and research organizations across three international offices.

Vallair signs MoU with CHAMP Cargosystems to develop first cargo management system for Airbus A321 freighter

Vallair, the mature aircraft and asset specialist, and launch customer for the A321 freighter conversion (A321F), has signed an MoU with CHAMP Cargosystems to develop the first cargo management system for its prototype freighter conversion. Based in Luxembourg, CHAMP is one of the leading suppliers of integrated IT solutions for the air cargo industry.

Vallair has been engaged in cargo conversions since 2015 and is the launching lessor of the Airbus A321 freighter. The partnership between Vallair and CHAMP will be a collaboration and pooling of resources to provide CHAMP’s Weight and Balance system for the new Airbus A321Fs and to establish a reliable e-freight system which can be utilised in conjunction with all of Vallair’s future A321F conversions.

Being able to offer CHAMP data and information on both the A321P2F and the A321PCF freighters will allow Vallair to contribute to a comprehensive cargo management system which is bespoke to these freighter variants.  This package will then be offered as a cost effective, load efficient solution to their customers in conjunction with digitalised tracking of all cargo.

German Heron TP UAV completes first successful flight in Israeli skies

In preparation for its delivery to the German Armed Forces, the German Heron TP UAV has completed its first flight in the skies of the State of Israel. The UAV was modified according to the needs and requirements of the German Ministry of Defense. It is the result of a joint program led by the UAV Executive Office in the Directorate of Defense Research and Development (DDR&D), of the Israel Ministry of Defense (IMoD), Israel Aerospace Industries (IAI), and Airbus DS Airborne Solutions, an Airbus Group company.

The agreement between the respective ministries was signed in June 2018. The agreement outlines the leasing of a number of UAVs as well as maintenance and training services. As such, German Air Force personnel are training together with their Israeli counterparts in an IAF base in central Israel.

The German Heron TP UAV is a medium altitude, long endurance, and multi-mission aircraft with a variety of payloads. It is based on the Israeli “Eitan” UAV, which is in operational use in the Israel Air Force. The German Heron TP UAV was modified in record time and incorporates advanced ‘blue-and-white’ technology.

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Tamar Jorssen
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Email: tamar.jorssen@avitrader.com
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