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Thursday, May 13th, 2021

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Alaska Air Group orders a combined 17 Embraer E175s for Horizon Air and Sky West

Alaska Air Group has announced that it has converted nine of its April 2016 options to firm purchases for Brazilian planemaker Embraer’s E175 jets under a Capacity Purchase Agreement (CPA) at a list price of US$449.1 million.

“We have navigated through the pandemic and we’re on a solid path to recovery. The E175 remains a key part of our strategy,” said Nat Pieper, Alaska Airlines senior vice president of fleet, finance and alliances. “We’re excited about growth in the years ahead, which has always been at the heart of Alaska’s DNA. The E175 is a terrific plane to help us add new routes and frequencies, and to complement our mainline aircraft to meet fluctuating demand with the right capacity.”

The 76-seat aircraft will be delivered in a three-class configuration, commencing 2022. In addition, the Group has confirmed its commitment to eight more E175 jets which will be operated by its subsidiary Sky West Airlines. Once the two orders have been delivered, Alaska Air Group will have a regional fleet of 79 E175 jets operated by Horizon and Sky West. Mark Neely, VP Sales and Marketing, The Americas, Embraer Commercial Aviation, ‎said, “The E175 is truly the backbone of the North American regional market; Embraer’s market share in the region’s 70-90-seat segment is 85%. There are currently 588 E175s serving U.S. and Canadian carriers in cities across Canada, the U.S.A., Mexico, and Central America.”

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AerCap shareholders approve acquisition of GECAS

AerCap Holdings N.V. has released that its shareholders have approved the previously announced acquisition of GE Capital Aviation Services (GECAS), a General Electric business, at the Annual General Meeting of shareholders held on May 12. The transaction remains subject to the receipt of necessary regulatory approvals and to the satisfaction of other customary closing conditions.

AerCap has its headquarters in Dublin with offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle, and Toulouse. AerCap is listed on the New York Stock Exchange (AER).

Qantas Group to adjust planned international flights from end-October 2021 to late December 2021

Qantas has released that the Federal Government has revised its anticipated timeline for the completion of Australia’s vaccine rollout to end-2021 and its timeline for significantly reopening its international borders to mid-2022.

In light of these two dates, the Qantas Group will adjust its planned international flights from end-October 2021 to late December 2021.  (Trans Tasman flights are unchanged.) The Group remains optimistic that additional bubbles will open once Australia’s vaccine rollout is complete to countries which, by then, are in a similar position, but it’s difficult to predict which ones at this stage.

This planning assumption will allow the Qantas Group – and Australia – to be ready to take advantage of pockets of tourism and trade opportunity as they emerge in a post-COVID world.

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MTU Maintenance delivers 500th CF34-10E engine to Kenya Airways

MTU Maintenance has handed over its of 500th overhauled CF34-10E to customer Kenya Airways in a virtual ceremony on May 11. MTU Maintenance has maintained a number of Kenya Airways’ CF34-10E engines since 2016 and CFM56 engines since 2019.

“Despite these unusual times, we are delighted that it was possible to celebrate this success and milestone with Kenya Airways virtually,” says André Sinanian, Managing Director and Senior Vice President, MTU Maintenance Berlin-Brandenburg. “At MTU Maintenance, we take pride in our performance and reliability and are proud our customers return to us time and time again.”

GA Telesis signs Boeing 767 teardown consignment agreement with major North American airline

GA Telesis, (GAT) has signed a Boeing 767 teardown consignment agreement with a major North American airline. The contract was completed through a partnership with GA Telesis’ Component Solutions team for the distribution and resale of parts removed from the 767 aircraft.

As one of the global leaders in component supply chain solutions and with distribution centers on six continents, GA Telesis is uniquely positioned to provide real-time support solutions to its airline customers worldwide using this highly sought-after inventory. After successfully managing hundreds of consignments over the past 19 years, GA Telesis is proud to assist this customer in marketing its 767-component surplus.

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Airshare orders three super midsize Challenger 350 aircraft

Airshare plans to double its fractional fleet with the addition of Bombardier’s Challenger 350 business jets. The company has ordered three super midsize Challenger 350 aircraft, with options for 17 more, which will enable the Kansas City-based private aviation company to double the size of its fractional ownership fleet in the near future.

Airshare selected the Challenger 350 aircraft as the catalyst for strategically expanding its revolutionary fractional ownership program beyond its core markets in the central United States, with the goal to soon begin serving customers on the East Coast. Airshare’s day-based program appeals to both business and leisure travelers seeking to maximize their efficiency and productivity.

Incora™ opens new global corporate headquarters in Fort Worth

Incora, a provider of innovative supply chain management solutions, has announced at a ribbon-cutting ceremony the opening of its new global headquarters at 2601 Meacham Boulevard in Fort Worth. Fort Worth was previously home to two company offices, which have consolidated into the new, expanded location. Incora’s largest warehouse, by volume, is in the Dallas-Fort Worth area, and some of the company’s largest customers and suppliers are nearby. In addition to these resources and assets, the central U.S. location makes the city of Fort Worth ideal for the new headquarters, offering more product and service availability to global customers, suppliers, and colleagues.

Consolidating Fort Worth-area offices and assets is part of a global plan to combine two legacy companies, Wesco Aircraft and Pattonair, into one Incora. The integration creates efficiencies, encourages collaboration, and leverages growth in all regions. Incora’s executive leadership team will be centered in Fort Worth, bringing them together and reinforcing Incora’s collaborative approach.

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IAI reports increase of 23.5% in net income in first-quarter

Israel Aerospace Industries (IAI), Israel's largest national military and civilian security defense company, has issued its consolidated financial statements for the quarter ended March 31, 2021.

The company's sales in Q1 2021 totaled approx. US$1,015 million compared with approx. US$1,018 million in Q1 2020, a decrease of US$3 million mainly arising from the increase in the sales of Systems Missiles & Space Group and of ELTA Group, offset by the decrease in the sales of Aviation Group and Military Aircraft Group. The sales of the Military Groups in Q1 2021 increased by approx. 12% to US$914 million compared with US$816 million in Q1 2020, an increase of about US$98 million. The Aviation Group sales in Q1 2021 decreased by approx. 27% to US$237 million compared with US$323 million in Q1 2020 – a decrease of US$86 million arising from the crisis in the global aviation industry.

Export sales in Q1 2021 accounted for 71% of sales at approx. US$722 million (approx. US$ 293 million to Israel, representing 29% of sales) compared with approx. US$724 million, accounting for 71% of sales in Q1 2020 (approx. US$294 million to Israel, representing 29% of sales).

Net income in Q1 2021 grew by approx. 23.5% to US$42 million (approx. 4.1% of sales), compared with net income of approx. US$34 million (approx. 3.3% of sales) in Q1 2020. The net income of the Military Groups in Q1 2021 increased by some 39% to approx. US$68 million compared with approx. US$49 million in Q1 2020, an increase of US$19 million. The net loss of the Aviation Group in Q1 2021 amounted to approx. US$8 million compared with a loss of approx. US$2 million in Q1 2020.

EBITDA in Q1 2021 grew by approx. 17.6% to approx. US$120 million (approx. 11.8% of sales), compared with approx. US$102 million (approx. 10% of sales) in Q1, 2020.

Air France-KLM Group CFO Frédéric Gagey to retire July 1

Air France-KLM has released that Group CFO Frédéric Gagey will retire and leave his current position as of July 1, 2021. Steven Zaat, currently serving as CFO of Air France, will succeed Frédéric Gagey as Air France-KLM Group CFO, on July 1, 2021. Gagey and Zaat will work together to conduct a seamless transition of responsibilities.

Zaat has over 20 years of experience in the airline industry. He joined KLM in 2000 where he held various finance positions within the Engineering and Maintenance Division and subsequently as VP Finance Alliances and Head of Audit, where he was working closely with Gagey, then Managing Director and CFO of KLM.

In 2014, Zaat joined the Air France-KLM Group, as VP Finance and Control of the Engineering and Maintenance division. In 2015, he became SVP Corporate Control of Air France-KLM. He was appointed CFO of Air France in July 2019.
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Email: tamar.jorssen@avitrader.com
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Tamar