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LATEST NEWS

Wednesday, August 31st, 2022

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Airbus loses out as Boeing secures order for sixteen wide-body 787s from Taiwan’s China Airlines

Taiwan’s China Airlines has confirmed that it has placed a firm order with Boeing for 16 787-9 wide-body jets which will be used to replace the carrier’s ageing fleet of Airbus A330 aircraft. At a list price of US$4.6 billion, the deal was announced by the government-backed carrier shortly after the visit to Taipei by U.S. House of Representatives Speaker Nancy Pelosi which had upset Beijing and added fuel to the fire concerning Sino-U.S. trade tensions. However, according to Reuters news agency, Boeing were at pains to make it clear that the company had avoided using Pelosi’s visit to actively lobby on the American planemaker’s behalf.

The deal is good news for Boeing as it is both a sign of market recovery in demand for the wide-body jet as well as a boost for the company after the 15-month halt to production and deliveries while production issues were resolved. This latest order also includes options for a further eight aircraft together with conversion rights to the higher-capacity 787-10 model. China Airlines credited the 787’s cargo-carrying ability as a major influence on the carrier’s decision to opt for the 787 as opposed to latest Airbus 330neo. Deliveries of the jets are expected to begin in 2025.  (£1.00 = US$1.17 at time of publication).

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COVID lockdowns in China hit top-three airlines hard – all post major Q2 losses

China’s three largest carriers, Eastern Airlines, Air China and China Southern Airlines have posted a combined Q2 2022 loss of 28,4 billion yuan, which was even greater than the substantial loss posted for the first quarter. The primary reason for such losses has been the ultra-strict lockdowns imposed as the COVID-19 pandemic lingers on in the country where it first originated. China has a low tolerance policy towards COVID-19 cases and despite small case number when compared to global figures, the brakes have been slammed on where domestic travel is concerned, the principal source of revenue for these three carriers, while international travel has also virtually ground to a halt as a
consequence of tight border control policies.

China Eastern Airlines, based in Shanghai has been hardest hit, posting a loss of 10.9 billion yuan for the quarter. In late March the city’s 25 million residents were told to stay at home, which resulted in the cancellation of virtually all domestic flights from Shanghai’s two airports. Based in Beijing, flag-carrying airline Air China Ltd. Posted a second-
quarter loss of 10.5 billion yuan, following on from a first-quarter loss of 8.9 billion yuan. China Southern Airlines posted a second-quarter loss of 7.0 billion yuan, up from 4.5 billion yuan in the first quarter. The second-quarter figures were based on Reuters news agency calculations given the airlines report first quarter and half-year results but do not break out the second quarter.

Total losses of the three leading airlines in the country amounted to nearly 50 billion yuan in the first half of 2022, far exceeding a total half-year loss of 16.7 billion yuan in the same period in 2021. The U.S. government said on Thursday it intends to suspend 26 China-bound flights in response to the Chinese government's decision to suspend some flights by U.S. carriers over COVID-19 cases. It is currently estimated that international flight numbers are at less than 1% of 2019 pre-COVID levels. (£1.00 =8.08 Chinese yuan at time of publication).

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AerCap signs Lease Agreements with Air Europa for five Boeing 787 and ten Boeing 737 MAX

AerCap Holdings has signed lease agreements with Air Europa Líneas Aéreas S.A.U. for the long-term lease of five Boeing 787-9 aircraft and ten Boeing 737-8 MAX aircraft. The aircraft are scheduled to deliver beginning in 2024 through 2026.

Air Europa will become the first Spanish operator of the Boeing 737 MAX aircraft.

“The future is bright for the Boeing 787 and MAX programs. For Air Europa these new technology fuel-efficient aircraft will provide improved cost efficiencies and help them to meet their sustainability commitments. said Peter Anderson, Chief Commercial Officer, AerCap

Airbus CFO Dominik Asam to leave the company in 2023

Dominik Asam, Chief Financial Officer of Airbus, has decided to leave the company beginning of March 2023 after almost four years in the position to pursue a new opportunity as Chief Financial Officer of SAP.

Dominik Asam joined Airbus as CFO and Member of the Executive Committee in April 2019.

“I am grateful for each day I have had the honour of working for Airbus so far. It has been a privilege to be part of the Airbus management team under the leadership of Guillaume Faury. Airbus is now in a better competitive position and I have great faith in my colleagues’ ability to continue writing this unique success story,” said Dominik Asam.

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Collins Aerospace breaks ground on expanded aircraft cargo systems facility in Jamestown, North Dakota

Collins Aerospace has broken ground on an expansion of its cargo systems facility in Jamestown, North Dakota. The 20,000 square-foot addition is the first of a four-phase expansion plan to modernize operations, add needed manufacturing space and best position the facility to meet both current and increasing processing needs.

The current 200,000 square-foot facility is a leading supplier of powered cargo systems for commercial widebody aircraft and an innovative solutions provider for military aircraft, including the Collins cargo on/off loading system (COOLS) for the Boeing CH-47 Chinook helicopter.

The Jamestown expansion includes space for new state-of-the-art chemical processing and paint lines designed to maximize operational efficiency, improve site ergonomics and provide customers with expedited delivery schedules. The chemical processing line will grow to include eight to ten additional tanks, expanding the internal parts processing capabilities of the facility.

The first phase of the Jamestown facility expansion is expected to be completed by May 2023, with the entire project to be completed by 2027.

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GA Telesis signs MOU with China Southern Airlines Leasing

GA Telesis has announced the signing of a new memorandum of understanding with China Southern Airlines Leasing. The parties have agreed to explore and collaborate on the provisioning of services by the robust GA Telesis Ecosystem. CSAL’s access to the Ecosystem will provide comprehensive solutions related to Component and Asset Life Cycle Management, Asset Value Maximization, Tooling Services, and Ground Support Equipment, as well as integrated processes that include the three MRO Services business units and GA Telesis Engine Services. The intention is to integrate with the GA Telesis Ecosystem™ in order for CSAL and its affiliates to maximize the value of their fleet.

GAT in conjunction with CSAL will collaborate to create a partnership with GAMECO, MTU Zhuhai and all China Southern subsidiaries, including storage, maintenance, cargo conversion, dismantling, component repair for various aircraft types, engine shop visits and engine parts support programs. Together, the enhanced partnership will facilitate engine teardown and trading through MTU Zhuhai.

Rex Airlines takes delivery of 7th Boeing 737

Rex has taken delivery of another Boeing 737-800NG, further bolstering the airline’s jet fleet deployed on its domestic network. The aircraft, registered VH-MFM, arrived in Brisbane from Montpellier in France, adorned in the distinctive Rex livery. Prior to being painted, the aircraft underwent a scheduled heavy maintenance check at an engineering facility at Montpellier, France

It is the seventh Boeing 737-800NG to be added to Rex’s Air Operator’s Certificate (AOC) and will enter service in early September. This will enable Rex to add additional capacity on the ‘Golden Triangle’ between Sydney, Brisbane and Melbourne.

“Our seventh aircraft allows us to meet the ever-increasing demand for Rex’s services given the shocking reliability on both Qantas and Virgin Australia,” Deputy Chairman, the Hon John Sharp AM, said. “Demand for Rex flights is so great that we are urgently looking for another two Boeing 737-800NGs which we hope to deploy by Q2 - Q3 of this Financial Year.”
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Tamar Jorssen
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Email: tamar.jorssen@avitrader.com
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Tamar