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Tuesday, April 12th, 2022

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Recaro Group generates €270 million in 2021, forecasts double-digit growth for 2022

Germany-headquartered Recaro Group, the seating innovator and specialist which includes Recaro Holding, Recaro Aircraft Seating and Recaro Gaming has announced it generated approaching €270 million in 2021. The Group also predicts a promising 2022 with a projected double-digit growth.

At Recaro Aircraft Seating’s four worldwide-located premises nearly 60,000 aircraft seats were manufactured, a slight rise on 2020 production. The company has continued its investment into R&D, having allocated over 10% in 2021 and also invested €50 million in a brand-new customer service centre which include a crash facility and flam-lab. Recaro Aircraft Seating also began producing the pre-configurated seat, Sprint (from order to delivery two months), being a significant driver.

The company will continue to work on expanding its footprint in the economy- and business-class as well as regional-jet markets. At the start of 2022, the family-owned Group, which employs over 22,000 staff, charted a course for the next phase of its development with a leadership evolution: Mark Hiller, CEO at Recaro Aircraft Seating added CEO of Recaro Holding to his list of responsibilities, while his predecessor and Recaro shareholder, Martin Putsch, moved into his new role as the chairman of the Recaro advisory board.

“Our global set up enables us to manage a strong market recovery. We are looking ahead to a positive growth outlook driven by major investments in new technologies and expanding our global footprint into new market segments, like train seating,” said Dr Mark Hiller, CEO at Recaro. (£1.00 = €1.20 at time of publication).


Tilman Reinshagen to become new COO of Brussels Airlines

Tilman Reinshagen, currently Vice President Ground Operations Hub Airlines Frankfurt, has been chosen by the Lufthansa Group Executive Board as the new Brussels Airlines COO. He will join Brussels Airlines as of July 1, to head the operational departments of the Belgian airline (Flight Operations, Maintenance & Engineering, Ground Operations). Reinshagen’s appointment is pending the approval of the SN Airholding Board of Directors.

Making his first steps in aviation in 2003 as a passenger service agent and later as a management trainee, he has built up an extensive experience in aviation operations, working in different companies of the Lufthansa Group. After his role as Station Manager Frankfurt for SWISS, he moved to Lufthansa as Process and Quality Manager Spain & Portugal. In 2013, he started at LSG, the aviation catering company of the Lufthansa Group, as Managing Director LSG Düsseldorf, followed by his role as Director Operations Frankfurt International.

In 2017, Reinshagen left the Lufthansa Group to join the management team at Apple, before returning to the Lufthansa Group in 2019, leading the Ground Operations of the largest Lufthansa Group station Frankfurt in his current role today.


EASA will not extend approval of transport of cargo in passenger cabins

Since 2020, the European Union Aviation Safety Agency (EASA) has issued approvals and exemptions for the transport of cargo in passenger cabins on a case-by-case basis. These were time-limited until July 31, 2022. Following a review of the operational context for transport of cargo in passenger cabin, the agency has concluded that the logistical challenges that arose in 2020 as a result of the COVID-19 crisis no longer exist to the same extent.

In accordance with the Issue 6.0 of the Guidelines for Transport of Cargo in Passenger Compartments, the Agency has therefore determined that the exemptions delivered in this context will not be extended beyond the current validity of July 31, 2022. The same applies for existing approvals that have been granted based on the use of the Deviation on transportation of cargo in passengers compartments.

This Deviation can also not be applied to any certification projects for which the approval is issued after that date.

BOC Aviation signs purchase agreement with Airbus for 80 A320neo-family aircraft

Global aircraft operating lessor BOC Aviation has signed a firm order for 80 A320neo-family aircraft comprising ten A321XLRs, 50 A321neos and 20 A320neos. The latest agreement takes BOC Aviation’s total direct orders with Airbus to 453 aircraft from the single aisle A320 family to the A330 and A350 wide-bodies.

The A320neo family incorporates new generation engines and Sharklets, which together deliver at least 20% fuel and CO2 savings, as well as a 50% noise reduction. The A321XLR version provides a further range extension to 4,700nm. This gives the A321XLR a flight time of up to 11 hours, with passengers benefitting throughout the trip from Airbus’ award-winning Airspace interior, which brings the latest cabin technology and design to the A320 family.


TAP posts net loss of €1.6 billion in 2021

TAP Air Portugal has posted a net loss of €1.6 billion in 2021, better than forecasted (€1.75 billion), including the recognition of non-recurring costs of €1 billion.

The first half of 2021 was marked by severe restrictions on domestic and international mobility due to the COVID-19 pandemic, leading to an almost total grounding of the airline's aircraft for several months.

Throughout the second half, borders gradually reopened, although two of TAP's main markets, Brazil and the U.S.A., only resumed international flights with Portugal during the last quarter of the year.

At the end of 2021, with the approval of the Restructuring Plan and with the objective of concentrating TAP on the core air transport business, the decision was taken to sell or to shut down some of the subsidiaries, namely TAP ME Brasil, whose historical performance had been reflected in growing accumulated losses.

Thus, as part of the corporate restructuring of the TAP Group included in the restructuring plan, an extraordinary impairment on the account receivable from TAP SGPS was recorded, which represents most of the non-recurring operating costs recorded in Q4 2021.
Despite the slow reopening of borders, particularly outside the Schengen area and the spread of the Omicron variant, TAP was able to limit the losses resulting from the forced grounding of its fleet.

Recurring EBITDA in the second half of 2021, offset the operating losses recorded during the first half, allowing 2021 to close with a positive recurring EBITDA of €11.7 million.

In the last quarter of 2021, in the context of the restructuring and reorganisation plan of TAP SGPS, TAP recorded a non-recurring cost item of €1,024.9 million impacting the results.

In operational terms, the number of TAP passengers grew by 25.1% (YoY) in 2021, still around 34.2% of the 2019 level. The demand (measured in RPK) increased by 25.6% (YoY), although still 35.5% of 2019 figures. Passenger revenues increased by 25.8% in 2021, above the overall 20.1% (according to IATA) growth in industry passenger revenues.

Total operating revenues reached €1,388.5 million, an increase of €328.4 million (+31.0%) compared to 2020 operating revenues. Passenger revenues increased by €218.8 million. Cargo and mail revenues were up 88.0% (EUR 110.5 million), fully offsetting the decline in maintenance revenues of €13.7 million YoY (-20.1%).


Alliance Airlines focuses on fuel efficiency with expanded relationship with GE Digital Aviation Software

GE Digital has released that Alliance Airlines has chosen Fuel Insight™ to focus efforts on saving fuel burn with fast access to flight data. The airline is building on its existing installation of GE Digital’s Safety Insight™ solution and therefore will be able to unlock the value of the data they gather from a single software platform.

Alliance Airlines has a fleet of 58 Fokker and Embraer aircraft with an additional 17 aircraft scheduled to join the fleet in 2022, providing charter, fly-in-fly-out, and wet-lease services across Australia.

Fuel Insight works by understanding real data from the aircraft and airline which can be used to help cost and emissions reduction. It is designed to utilise GE Digital’s powerful aviation data and analytics platform to merge flight data with flight plans and uncover valuable insight to help increase aircraft fuel efficiency and reduce waste. Fuel Insight is designed to give operators actionable intelligence at multiple levels allowing analysts to drill down from macro trends to understand issues on a per-flight level.


Muirhead Avionics signs global repair agreement with Honeywell for ERJ cockpit and control displays

Muirhead Avionics, a brand of AMETEK MRO and one of the largest independent avionics repair facilities in Europe, will provide repair and on-going support for Honeywell’s cockpit displays, control displays and display computers for ERJ 140/145/135/Legacy aircraft. The ten-year agreement is globally exclusive and will commence immediately.

Customers will ship all units to Muirhead Avionics’ specialist facility near London Heathrow airport and can be reassured of the OEM-quality standards and prompt turnaround-times commensurate with a repair partnership of this calibre.

Establishing repair partnerships and representative agreements with leading OEMs is a cornerstone of Muirhead Avionics’ business. As part of the AMETEK MRO group, the Company has the investment it needs to underpin innovation and expand its capabilities.

PTS Aviation acquires two CFM56-7B24/26 turbofans

PTS Aviation, a StandardAero company, has completed the purchase of two CFM56-7B24/26 engines in full LRU/BFE/QEC configuration from a major North American lessor. These engines contain high-demand internal and external components, including attractive life-limited parts (LLPs) and will be used either as rebuild candidates, module donors or full disassembly candidates to support PTS Aviation’s customer base worldwide.

This major purchase represents PTS Aviation’s second publicly announced transaction since StandardAero signed a definitive agreement to purchase the company in February of this year, a deal which marked StandardAero’s tenth acquisition since March 2015. Founded in 1995, PTS has over 150 years of combined aviation management experience and significant expertise buying, leasing and selling engines, modules and used serviceable material (USM).

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Tamar Jorssen
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Email: tamar.jorssen@avitrader.com
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