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LATEST NEWS
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Wednesday, January 8th, 2020
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As a result of a US$540 million shave off its pretax income since the grounding of the Boeing 737 Max in March 2019, American Airlines (American) has reached an undisclosed settlement figure with Boeing Co. to cover the carrier’s losses as a consequence.
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The figure is not a complete settlement and does not include any compensation that will be due for 2020. Currently, American has removed all 737 MAX flights from its schedule until April 6. The carrier has confirmed that US$30 million of the compensation will be shared with staff to cover lost earnings through the 737 MAX grounding. American is following on from Southwest Airlines which has also negotiated a settlement figure with Boeing, while earlier on Monday this week, Groupo Aeromexico SAB announced it has also reached an agreement for compensation with Boeing.
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Southwest Airlines has removed the 737 MAX from its schedule until April 13. According to Bloomberg, American Chief Executive Officer Doug Parker said: “Our ability as an airline to weather these unprecedented times is thanks to our phenomenal team, and it was important to us that we get a deal done before the end of the year.” The compensation payable will most likely take the form of reduced payments for 737 MAX jets American currently has on order and paid over a number of years.
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Boeing announced back in July that it had taken a US$5.6 billion pretax charge to cover potential claims from clients as a result of the MAX grounding.
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JetBlue will offset carbon dioxide emissions (CO2) from jet fuel for all domestic JetBlue flights beginning in July 2020, making it the first major U.S. airline to take this critical and measurable step toward reducing its contribution to global warming. JetBlue also announced plans to start flying with sustainable aviation fuel in mid-2020 on flights from San Francisco International Airport.
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As part of the airline’s plan to prepare for a changing climate, these commitments underscore JetBlue’s long-term strategy to ensure a more sustainable business for crewmembers, customers, shareholders and communities served by JetBlue. The efforts also build on the airline’s existing programs like investments in fuel-saving technologies and aircraft, as well as advocating for a more fuel-efficient air traffic control system that would reduce emissions from flying.
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The expansion is expected to offset an additional 15-17 billion pounds (7 to 8 million metric tons) of emissions per year – the annual equivalent of removing more than 1.5 million passenger vehicles from the road. JetBlue will offer ways for the airline’s customers and communities to connect with the carbon offsetting projects JetBlue is engaging with.
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Alaska Air Group has reported that Brandon Pedersen, Chief Financial Officer since 2010, plans to retire on March 2. Shane Tackett, currently Alaska's executive vice president of planning and strategy will succeed Pedersen, focusing on execution of the company's business model for continued long-term growth and value for guests, employees, owners and communities.
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After serving as Alaska's outside auditor for 11 years, Pedersen joined Alaska in 2003 as vice president of finance and controller and was promoted to CFO in May 2010. During his tenure as CFO, Alaska acquired Virgin America, fortified its balance sheet and initiated a dividend that has grown every year since 2013.
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Magnetic MRO, a Total Technical Care and asset management organization, and SAS Scandinavian Airlines have extended their base maintenance agreement for base maintenance services for the carriers whole A320neo fleet.
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The original contract between the two companies has been signed in December 2017 and recently has been prolonged until 2023 and consists of maintenance visits of 56 airplanes.
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CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co. (CDB Leasing), has released that aviation industry veteran Patrick Hannigan has been named the company’s new Chief Executive Officer, taking the helm at a pivotal time in the lessor’s robust development, with the goal of furthering its growth momentum.
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Hannigan, who is promoted to CEO from his current position of President and Chief Commercial Officer, succeeds Peter Chang, whose planned retirement caps three years of leading the successful transformation of CDB Aviation into a formidable, full-service, global aircraft leasing platform.
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Shell Aviation and World Energy have announced a collaboration to develop a scalable supply of sustainable aviation fuel (SAF). The agreement is intended to be a multi-year collaboration, with both companies acknowledging that the path to lower carbon emissions in aviation requires long-term commitment and collaboration.
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As part of the collaboration, Shell Aviation and World Energy also announced that they have initiated the supply of SAF to Lufthansa Group at San Francisco International Airport (SFO). The supply will reduce Lufthansa’s carbon emissions on intercontinental flights on three routes operated by Deutsche Lufthansa and Swiss International Air Lines from SFO to Frankfurt, Munich and Zurich.
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The deal represents one of the most significant SAF supply contracts globally, with up to one million gallons of SAF to be supplied to Lufthansa over the duration. It is the largest contracted SAF volume to be delivered to SFO since the airport announced its ambition to expand the use of SAF in its operations last year.
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EDM, a leading global provider of training simulators to the civil aviation and defense sectors, has announced that its team successfully completed a project with All Nippon Airways (ANA), having installed its high-fidelity B777 Cabin Emergency Evacuation Trainer (CEET) at ANA's new state-of-the-art training center called ANA Blue Base.
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Following the news that EDM has been selected to supply ANA with this new CEET, its team in the UK began designing and manufacturing the complex build, incorporating various features that ANA requested be installed in this trainer.
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In December, Finnair experienced strong demand and carried 1,154,000 passengers, 11.7% more than in the corresponding period of 2018. The overall capacity increased in December by 12.3%. Finnair's traffic increased by 13.5%, and the passenger load factor increased year-on-year by 0.8% points to 77.2%.
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BOC Aviation has ordered 20 new Airbus A320neo aircraft. A minimum of ten and up to 12 of these A320neo aircraft have been committed for lease to Avianca S.A. (Avianca) based in Bogota, Colombia.
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“We are delighted to establish a relationship with BOC Aviation, who are one of the world’s foremost lessors, and we sincerely value the confidence they are showing in Avianca and the support to our long term plan,” said Adrian Neuhauser, CFO of Avianca.
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Dumont Aviation Group has announced that, with its most recent purchase on December 23, 2019, Dumont has completed its program of purchasing 27 Falcon 2000 aircraft from a large fractional operator.
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The Falcon 2000 program started in 2018 when Dumont purchased its first Falcon 2000 and continued through 2019 and concluded with its Dec. 23 purchase.
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Dumont Aviation Group is a proven leader in executive and commercial jet aviation. Its team specializes in aircraft charter, management, sales, maintenance, paint, interior and parts sales from our established FAA Part 135 and Part 145 operations in Allentown, Pennsylvania; New Castle, Delaware; Bloomington, Illinois; and Fort Worth, Texas, and from our sales offices in New Castle; Orlando, Florida; and Nashville, Tennessee.
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Dumont JETS is Dumont’s premier aircraft sales, management and charter division serving clients throughout the country. Dumont MRO, the maintenance repair and overhaul division, offers high-quality workmanship and unparalleled customer service from its four bases of operations. And Dumont PARTS, the aircraft parts division, provides customers with quick service and affordable and reliable aircraft parts backed with exceptional customer support from our PARTS team. Together, JETS, MRO and PARTS offer a premium turn-key solution for private aviation clients.
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UPCOMING EVENTS
March 24 - 26, 2020 - London, UK
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