Embraer posts earnings results for second quarter 2022

Embraer has reported consolidated revenues of US$ 1,018.9 million in the second-quarter of 2022 (2Q22), which represent a decrease of 9.9% y-o-y mostly driven by lower deliveries in Commercial and Defence & Security and partially offset by higher revenues in Services & Support. Commercial Aviation reported revenue reduction of 23% y-o-y of US$299.9 million due to lower aircraft deliveries in the quarter. Executive Aviation 2Q22 revenues were US$266.7 million, which is 0.2% higher y-o-y. Net profit attributable to Embraer shareholders and earnings per ADS for 2Q22 were US$74.2 million and US$0.40, respectively, compared to US$87.9 million in net income attributable Read more

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Airbus pulls plug on entire remaining Qatar Airways A350 deal

Qatar Airways Airbus A350 ©AirTeamImages

With Qatar Airways refusing to take delivery of any further Airbus A350s until the European planemaker makes good on what the Gulf carrier calls premature surface damage, Airbus has finally had enough of the situation and has revoked the existing order for what stood at 19 aircraft as at the end of June, according to REUTERS news agency. The book value of these aircraft stands at US$7 billion. This contract revocation comes six months after Airbus revoked the contract for 50 of the smaller A321neo jets which Qatar Airways also had on order. That revocation was seen as a retaliatory Read more

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Aergo Capital remarkets two B787-9 aircraft to go on lease to Air Premia

Aergo Capital (Aergo) has remarketed two B787-9 aircraft, bearing manufacturer serial numbers 63314 and 63315, to be delivered on operating lease to Air Premia. The transaction is being executed on behalf of UKEF, with the lease agreement signed on August 4, in Singapore. Aergo Capital has acted as the asset manager and remarketing agent with the first aircraft (63314) being delivered in the coming weeks and the second aircraft (63315) scheduled to deliver early in 2023.

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Lufthansa Group posts operating profit of €393 million and adjusted free cash flow of €2.1 billion in second-quarter 2022

©Lufthansa

The Lufthansa Group generated an operating profit of €393 million in the second quarter of 2022. In the prior-year period, adjusted EBIT was still clearly negative at €-827 million. Adjusted EBIT margin rose accordingly to 4.6% (prior year: -25.8%). Net income increased significantly to €259 million (prior year: €-756 million). The Group turned over €8.5 billion in the second quarter, almost three-times as much as in the same period last year (previous year: €3.2 billion). For the first half-year of 2022, the Group recorded an adjusted EBIT of €-198 million (prior year: €-1.9 billion). The adjusted EBIT margin amounted to Read more

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Spanish government approves sale of ITP Aero

©Rolls-Royce

Rolls-Royce has reported that the Spanish government has approved the sale of ITP Aero to a consortium of investors led by Bain Capital Private Equity. This follows the approval of all other relevant regulatory authorities. As a result, the completion of the transaction, at an enterprise value of approximately €1.8 billion, is expected in the coming weeks. This sale, which was announced on September 27, 2021, completes Rolls-Royce’s disposal programme announced on August 27, 2020, to raise proceeds of at least £2.0 billion. Upon completion, sale proceeds (excluding any cash retained by Rolls-Royce) of approximately €1.7 billion will be used Read more

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HAECO ITM signs long-term contract with Silk Way West Airlines

©HAECO ITM signs long-term contract with Silk Way West Airlines

HAECO ITM, a member of the HAECO Group, has signed an exclusive contract with Silk Way West Airlines to provide inventory technical management support to the airline’s Boeing 747-8F fleet. The new agreement will run until 2029. Under the new agreement, Silk Way West Airlines will benefit from gaining access to HAECO ITM’s pool of components in Hong Kong with guaranteed service levels. The scope of work includes comprehensive component repair management and engineering services, pool access services including AOG support and component logistics and transportation.

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AAR Mobility Systems awarded firm-fixed-price contract from U.S. Air Force to produce next-generation all-aluminium cargo pallets

AAR CORP., a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has been awarded a firm-fixed-price (FFP) requirements contract from the U.S. Air Force (USAF) to produce next-generation all-aluminum cargo pallets. The basic contract period of performance is for 18 months with eight 12-month options and one six-month option. The total contract value including option periods is US$173.5 million. The next-generation all-aluminum cargo pallets will be manufactured in Cadillac, Michigan, by AAR Mobility Systems, which specialises in the design and manufacture of mission-tailored configurations, integration/modification, re-fit of mobile shelter systems, internal slingable unit (ISU®) containers, Read more

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Dirk Janzen appointed Vice President Passenger Sales, The Americas, for Lufthansa Group Airlines

Dirk Janzen

Effective September 1, Dirk Janzen will assume the role of Vice President Sales, The Americas, Lufthansa Group Airlines, responsible for global market strategy, joint ventures, as well as passenger sales across North and South America. He succeeds Frank Naeve, who was in charge of The Americas region for the last three years until his recent appointment as Senior Vice President Global Markets & Stations for the Lufthansa Group. He will be based at the Lufthansa Group’s passenger airlines headquarters situated on Long Island in New York State, and will report to Naeve. Janzen brings to his new position a wealth Read more

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Flybe announces partnership with TrustFlight

©Flybe

Flybe has announced a partnership with TrustFlight and its suite of digital tools, including Tech Log, AMOS and Centrik, designed to enhance the airline’s safety, regulatory compliance, and continuing airworthiness. The combination of TrustFlight’s industry expertise and cutting-edge digital technology will help Flybe to deliver an efficient, cost-effective, competitive service to its customers, ensuring the highest levels of safety, compliance, and airworthiness. Flybe Chief Technical Officer, Ron Karger, noted: “We started working closely with TrustFlight earlier this year, a relationship that has helped us realise our vision for a new, highly reliable, and extremely compliant Flybe fleet, which will be Read more

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BA temporarily suspends sale of all short-haul tickets from Heathrow

©British Airways

In a bid to minimise ongoing travel chaos, British Airways (BA) has announced that it has suspended the sale of all short-haul flight tickets from Heathrow International Airport until August 8, in a bid to mitigate problems travellers are encountering with flight delays and cancellations. The move has also been taken to enable existing travellers who have had their flights cancelled to more easily rebook their flights. The decision will affect all domestic and European flights out of Heathrow. This move by BA comes on the heels of a recent announcement by Heathrow Airport that to avoid baggage delays and Read more

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