Lufthansa Technik continues growth – record 2018 revenue and improved results despite major investment

Lufthansa Technik has posted record revenues with a 10% increase for 2018 compared to 2017, also surpassing 2017 results despite intensified price pressure and far-reaching investments in digitalization, its international network and personnel. Applicable to Lufthansa Technik AG and its 21 fully consolidated companies, sales revenues climbed by more than €500 million, surging from €5.404 billion to €5.918 billion, an increase of 9.5% above the previous year’s total. The company generated adjusted EBIT of €425 million (previous year: €415 million), an increase of 2%. The company outperformed the market in 2018, with the Americas region producing the highest level of Read more

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Embraer’s John Slattery appointed president and CEO of JV with Boeing

John Slattery

Within trio of executive moves in a bid to accelerate key global partnerships and capabilities, the current CEO of Embraer Commercial Aviation and executive vice president of Embraer S.A, John Slattery, has been appointed as president and CEO for the commercial and aviation services joint venture between Boeing and Embraer. The appointment is subject to formal appointment by the joint venture’s Board of Directors after closing. Once approved, Slattery will report to B. Marc Allen as the chair of the new company’s board of directors. Slattery will be based in Sao Jose dos Campos, Brazil.  Slattery joined Embraer in 2011 Read more

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Crisis deepens at Jet Airways as pilots threaten strike action

Jet Airways ©AirTeamImages

Struggling to cope with debts of US$1 billion, India’s jet Airways is struggling to remain operational with only 41 aircraft available, one-third of its fleet of it original fleet, forcing to to cancel hundreds of flights, many at the mast minute. While many of its aircraft lessors have begun to cancel leasing agreements, the stricken carrier is faced with further problems as the pilots’ union has threaten to begin strike action on April 1. Many pilots have no been paid for some time and this strike action will only be averted if the carrier can come up by putting a Read more

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Alitalia rescue in jeopardy as easyJet pulls out of negotiations

©easyJet

Having previously been involved in discussions with Italian state rail operator Ferrovie dello Stata, and U.S. carrier Delta Air Lines with a view to creating a consortium ‘rebranding’ of the stricken flag-carrying Italian airline, easyJet announced Monday, March 18, that it is no longer involved in any of the negotiations. Ferrovie dello Strato was conducting negotiations with regard to Alitalia’s affairs. “Following discussions with Ferrovie dello Stato Italiane and Delta Air Lines about forming a consortium to explore options for the future operations of Alitalia, easyJet has taken the decision to withdraw from the process,” said the airline, adding that Read more

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Flughafen Zürich wins concessions for two more Brazilian airports

©Flughafen Zürich

The concessions for the operating of Brazil’s Vitória and Macaé airports has been won by Flughafen Zürich AG through a successful public tender.  Handling more than 3.8 million passengers in 2018, the two airports will be added to Flughafen Zürich AG’s existing South American portfolio of four Brazilian airports, alongside two in Chile. Currently the company has a minority shareholding in the operating company of the international airport Confins in Belo Horizonte and the fully owned stake of the airport Hercilio Luz in Florianópolis. The concession is due to run from the second half of 2019 whereby Flughafen Zürich AG Read more

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Embraer fourth-quarter results – major loss reveals executive jet concerns

Embraer SA, the Brazilian plane maker, has reported an unexpected fourth-quarter loss due to a write down in its underperfoming executive jets division. The results have subsequently cast even greater concern over the company’s decision to sell off 80% of its profit-making commercial jet unit to Boeing. The US$18.1 million fourth-quarter loss was primarily due to the US$61.3-million write down for spending on research and development for the ‘Legacy’ line of jets which have underperformed where anticipated sales are concerned. The originally anticipated return was US$8.4 million based on a Refinitiv poll of six analysts. With the defense arm of Read more

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Boeing share price falls again as U.S. grounds all 737 MAX jets

After the second fatal crash of a Boeing 737 MAX jet in under five months, the U.S Federal Aviation Administration (FAA) has halted the operation of the aircraft. This is the second time the FAA has had to intervene with a Boeing Jet in six years after it temporarily grounded the 787 Dreamliner in 2013 over lithium battery problems. According to Reuters, Shares of the world’s biggest plane maker, which were up earlier in the session, fell 2 percent to US$370.48. The shares have fallen about 13 percent since Sunday’s crash, losing about US$32 billion of market value. Speaking to Read more

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Five judicial reviews begin on plans for London Heathrow’s third runway

While U.K. transport Minister Chris Grayling has approved the latest proposals for the creation of a much-needed third runway at London’s Heathrow airport, the plans are now subject to five legal reviews which began this week, and which are likely to last for a fortnight before judges retire to consider their decision. Of principal concern is the effect on air quality in the area surrounding the airport as passenger numbers are likely to increase some 60% to 132 million per annum. Not only will this see an increase of 700 extra flights per day, and an increase of 42,000 cars Read more

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Boeing shares tumble as Ethiopia, China and Indonesia ground 737 MAX jets after crash

The aftermath of the tragic crash of an Ethiopian Airlines 737 MAX 8 on Sunday, which saw all 157 passengers and crew killed, has seen several countries and airlines ground their 737 MAX 8s until further notice. This is the second fatal crash involving the MAX 8 after an Indonesian Lion Air jet crashed in 2017 killing all 187 passengers and crew on board. The consequence for Boeing saw its share price tumble 12% on opening this Monday, according the Financial Times, the largest drop since the 9/11 attack on the World Trade Center. The share price had rallied to Read more

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Ethiopian Airlines Boeing 737 crashes killing all 157 on board

Ethiopian Airlines 737 MAX 8 ©AirTeamImages

Ethiopian Airlines has confirmed that flight ET3 302, a Boeing 737 MAX8 which took off from Addis Ababa at 08.38am local time, lost contact with air traffic controllers six minutes later, crashing near Bishoftu and killing all 149 passengers and eight crew members on board. The aircraft, which was en route to Nairobi, Kenya, had been acquired by the flag-carrying airline in November last year and had flown only 1,200 hours. While no immediate reason has been given for the accident, Ethiopian Airlines’ CEO Tewolde Gebremariam, confirmed that the pilot, who had been working for the carrier since 2010, sent Read more

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