Thursday, May 10th, 2018



US$15.5bn Profit for Major American Carriers in 2017

The U.S. Bureau of Transportation Statistics has revealed that the 23 largest American carriers made a combined profit of US$15.5 billion last year, resulting in an after-tax profit being recorded for the fifth year in succession. This shows that the strong rebound from the previous ten years of losses continues.

However, the airline industry has played down the actual level of profit, crediting a part of it to the tax overhaul legislation adopted last year by federal lawmakers. Additionally, fuel and labor costs rose by US$7bn compared to 2016.
Alison McAfee, a spokesperson for Airlines for America (A4A), the trade group representing the country’s biggest carriers, commented that a profitable airline industry is good news for passengers. “Airline profitability benefits customers as airlines are strong, able to compete and reinvest in their business with new planes, products and destinations, including expanded service to small communities and internationally, which in turn creates jobs,” adding that America’s airline industry was boosted by 450 new planes last year.

In addition to basic flight ticket revenue, airlines took US$4.6 billion from baggage fees and US$2.9 billion from reservation change fees, while these figures do not include additional revenue generated from food, drinks, transportation of animals, etc.


Hawaiian Airlines' traffic grows 7.1% in April

Hawaiian Airlines has announced its system-wide traffic statistics for the month ended April 30, 2018. Hawaiian welcomed more than 961 thousand guests in April 2018, an increase of 6.3% over the same period last year. Total traffic increased 7.1% on an increase of 7.3% in capacity. Load factor decreased 0.1 points to 85.2%.

United reports April 2018 operational performance

United Airlines (UAL) has reported April 2018 operational results. UAL's April 2018 consolidated traffic increased 5.1% and consolidated capacity increased 6.1% versus April 2017. UAL's April 2018 consolidated load factor decreased 0.8 points to 82.3% compared to April 2017.

Bristol Associates

LOTAMS opens new maintenance base in Budapest

LOT Aircraft Maintenance Services (LOTAMS) opened its first permanent foreign maintenance base capable of offering a full range line maintenance services in Budapest.

The new Budapest base is an equipped and organized foreign branch that will provide comprehensive services to the airlines. The first line maintenance was already carried out on a Boeing 787 Dreamliner of LOT Polish Airlines.

The first foreign maintenance base of LOTAMS commenced operations in early May. Organizational activities started at the beginning of October 2017. LOTAMS provides full line and base maintenance for Boeing 787-8 and Boeing 787-9 and will service LOT Polish Airlines flights from Budapest to Chicago and New York, that take place six times a week.

LOT Aircraft Maintenance Services Sp. z o.o. is a provider of technical services for civilian and military aircrafts.

Ryanair appoints Chiara Ravara as Head of Sales & Marketing

Ryanair has named Chiara Ravara as its new Head of Sales & Marketing, promoting her from her previous role as Senior Sales & Marketing Manager.

Chiara has worked in Ryanair since 2014, joining from Aviareps in Italy, and will spearhead Ryanair’s Sales & Marketing team and activities across 37 countries in Europe and North Africa.


AviaAM Leasing buys new headquarter building in Cyprus for €4.3m

AviaAM Leasing has obtained a new HQ building in Limassol, Cyprus. While already managing subsidiaries in Ireland, Lithuania, Cyprus, and China, the company has invested €4.3m in this new office building.

“The estate, located on the main street of Limassol, will represent our Lithuanian founded company. We are planning to expand our activities in Cyprus. A beneficial taxation system, clear and simple laws, and a well-developed banking infrastructure draw many international companies from all over the world. The main goal of our future work is related to the Asia region, and Cyprus provides us with a great coordination location for that work.” says Tadas Goberis, CEO and Head of the Board of AviaAM Leasing.

The office building has six stories and it is planned to host approximately 400 employees.

Leonardo's first quarter 2018 revenues up 4%

Leonardo Helicpoters has released that new orders for the first quarter amounted to €2,164m, showing a decline of 18.2%, mainly due to major contracts booked in 2017 in Aeronautics for activities in support to the EFA aircraft fleet for the period from 2017 to 2021

The order backlog amounted to €33,360m compared to €33,637m at 31 December 2017. Revenues increased 3.8%, to €2,451m compared to the previous year, mainly due to the growth reported in Helicopters, which had been affected by a lower number of deliveries in 2017 made in the civil segment.

EBITA amounted to €153m, compared to €155m in the first quarter of 2017 and EBIT was €121m, compared to €123m in the first quarter 2017.

The first quarter net result before extraordinary transactions amounted to €50m, compared to €49m in 2017. Net result was €50m, equal to the net result before extraordinary transactions on account of the absence of extraordinary transactions.

Free Operating Cash Flow (FOCF) amounted to negative €1,057m, in line with the Group’s seasonal trend to record considerable cash outflows during the first quarters, while the value for the first quarter of 2017 had benefitted from the substantial contribution from the EFA Kuwait contract, as a result of the collection of the second advance payment during the quarter

Group Net Debt amounted to €3,595m mainly as a result of cash outflows for the period.


David Houlihan named President of DAE Capital

Dubai Aerospace Enterprise (DAE) has appointed David Houlihan to the newly created position of President of DAE Capital.

Under Mr. Houlihan’s leadership this business line will encompass most of DAE’s customer facing activities. This function will include the areas of Sales, Trading, Technical and the recently launched Aircraft Investor Services.

Philippine Airlines selects HAECO ITM for V2533 engine component support

HAECO ITM, a member of the HAECO Group, has entered into a long-term agreement with Philippine Airlines to provide engine component support.

The scope of the agreement includes access to HAECO ITM’s component pool, component exchange, component repair management, component engineering and aircraft-on-ground (AOG) support for PAL’s International Aero Engines IAE V2533 engines on its Airbus A321 fleet.

With HAECO ITM’s expertise in component engineering and provisioning of spares with guaranteed service levels, PAL will benefit from high component reliability and operational efficiency.


Embraer X unveils first eVTOL concept

Embraer X, an Embraer organization dedicated to developing disruptive businesses, has unveiled its first electrical Vertical Take-Off and Landing (eVTOL) aircraft concept. The unveiling was made during Uber Elevate 2018, in Los Angeles, California. Embraer X is engaged in several projects, including the development of eVTOL concepts through a cooperation with Uber and other companies to explore business opportunities within the Uber Elevate ecosystem.

The eVTOL concept presented at Uber Elevate 2018 represents an aircraft with a mission to serve passengers in an urban environment, based on the key design drivers of safety, passenger experience, affordability and a very low footprint for the community, in terms of noise and emissions.

“We are developing solutions to bring on-demand air transportation to urban areas to improve quality of life for millions of people. Our collaboration with key stakeholders will accelerate the arrival of this new ecosystem,” said Antonio Campello, President & CEO of Embraer X. “This is one example of how Embraer X is committed to exploring a range of disruptive products and services that could revolutionize the business of air transportation.”

Embraer X’s first eVTOL concept unveiled on May 8, is the outcome of extensive interaction with potential urban air travelers about their desired experience, combined with the expertise of Embraer’s teams and the collaboration with various companies and institutions. Embraer X will continue to engage with communities to expedite the development of desired solutions for this new market.

Over the last five decades, Embraer has designed, developed and certified close to 50 aircraft models, delivering over 8,000 aircraft to 100 countries. Embraer’s fleet has accumulated more than 50 million flight hours. Leveraging Embraer’s experience and longstanding relationships with aircraft certification authorities around the globe, Embraer X will ensure that safety design drivers meet and exceed the highest industry standards.



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Technical Aspects of a Leased Asset 2018
June 5, 2018 – Jury’s Inn Hotel, Prague

Maintenance Reserves Seminar 2018
June 6, 2018 – Jury’s Inn Hotel, Prague

Engine Leasing Seminar
September 18, 2018 – Copthorne Tara Hotel, Kensington, London, UK

Transactional Support & Risk Management Seminar, London
September 19, 2018 – Copthorne Tara Hotel, Kensington, London, UK

Aircraft Economic Life Summit 2018
November 20, 2018 – Gibson Hotel, Dublin, Ireland
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