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LATEST NEWS
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Monday, February 10th, 2020
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End-of-year figures for airlines are beginning to reveal the full extent to which many of them have been hit by the ongoing grounding of the Boeing 737 MAX since March last year.
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Icelandair Group has now estimated that the impact the 737 MAX problems has had on its business will result in a US$100 million negative impact on its EBIT. According to the Nordic carrier’s CEO, Bogi Nils Bogason, the Max Grounding has had “an unprecedented negative impact on Icelandair’s operations, resulting in lost revenue, increased expenses and restricted utilisation of the company’s fleet and crew.”
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For the last nine months Icelandair has been doing its best to minimize the grounding’s impact on the business as, prior to the grounding, it had planned for its 737 Max jets to provide 27% of passenger capacity in 2019. As opposed to having a planned fleet of 36 aircraft – including nine 737 Max jets – available, Icelandair operated 33 aircraft over 2019’s peak holiday season, including 22 757, two 757-300s, four 767-300s, and up to five wet-leased aircraft.
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On top of leasing costs, the airline faced increased expenditure due higher fuel consumption and higher ground, navigation and maintenance costs as a result of operating older aircraft. Icelandair has confirmed it has reached two agreements with Boeing for “partial” compensation of the airline’s losses and is in ongoing discussions regarding further compensation. Icelandair has made it clear that the MAX grounding was the main reason for its “negative results” for 2019. The group reduced its EBIT loss to US$39.3 million in 2019, from just below US$57 million in 2018, though the Group’s net loss grew $2.2 million to $57.8 million. Revenue declined by $6 million to $1.5 billion as Icelandair adjusted its network to concentrate on more profitable routes. Icelandair also confirmed that the number of passengers it carried to its home country grew 25% in the year, but the number of transatlantic transit passengers declined by 9%.
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CAE has reported revenue of CA$923.5 million for the third quarter of fiscal 2020, compared with CA$816.3 million in the third quarter last year. Third quarter net income attributable to equity holders was CA$97.7 million ($0.37 per share) compared to CA$77.6 million ($0.29 per share) last year. Net income before specific items in the third quarter of fiscal 2020 was US$98.0 million.
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Third quarter segment operating income was CA$154.9 million (16.8% of revenue) compared with CA$113.0 million (13.8% of revenue) in the third quarter of last year. Segment operating income before specific items in the third quarter of fiscal 2020 was CA$155.3 million (16.8% of revenue).
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Third quarter Civil revenue was CA$558.1 million, up 22% compared to the same quarter last year. Segment operating income was CA$123.0 million (22.0% of revenue) compared to CA$87.2 million (19.0% of revenue) in the third quarter last year. Third quarter segment operating income before specific items was CA$123.4 million (22.1% of revenue), up 42% compared to the third quarter last year. During the quarter, Civil delivered 12 full-flight simulators (FFSs) to customers and third quarter Civil training centre utilization was 70%.
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During the quarter, Civil signed training solutions contracts valued at CA$706.2 million, including a long-term pilot training agreement with JetSmart Airlines, and 17 FFSs, for 37 sales in the first nine months of the year. Since the beginning of January, Civil received orders for seven FFSs, including six for the Boeing B737MAX aircraft, bringing total current year-to-date FFS sales to 44.
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TAG Aviation Asia has been appointed as an Authorized Service Facility for Bombardier Aviation in Hong Kong. This approval includes the Bombardier Global 5000 GVFD, Global 6000 GVFD, Global 7500, and the Challenger 605, for line maintenance services in the region.
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“This welcome extension will further reinforce Bombardier’s strong OEM support in the region. The new capability will strengthen TAG Asia’s service offerings for the Bombardier product line and complements the wide range of high-quality maintenance service facilities at Hong Kong Airport maintenance bases,” said Phil Balmer, Director Maintenance.
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Finnair's full year 2019 revenue increased by 9.2% to €3,097.7 million (2,836.1), while Unit revenue (RASK) decreased by 1.9%. Unit revenue at constant currency decreased by 2.4% and Unit cost (CASK) increased by 0.7%. Unit cost at constant currency excluding fuel decreased by 1.2%.
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Fuel costs increased by €106.3 million (+18.3%) of which the impact of fuel price was €42 million. Comparable operating result was €162.8 million (218.4) and operating result was €160.0 million (256.3) compared to full year 2018.
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Net cash flow from operating activities was €564.5 million (503.6), and net cash flow from investing activities was €-513.2 million (-202.6). Number of passengers increased by 10.3% to 14.7 million (13.3). Available seat kilometres (ASK) grew by 11.3%. Passenger load factor (PLF) was 81.7% (-0.1 points).
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Hawaiian Airlines has welcomed more than 963,000 guests in January 2020. Total traffic increased 6.6% on an increase of 7.5% in capacity compared to January 2019. Load factor decreased 0.7 points year-over-year to 83.6%.
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The Boeing Australia team has completed major fuselage structural assembly for the first Loyal Wingman. The aircraft is one of three prototypes that will be developed as a part of the Loyal Wingman – Advanced Development Program in partnership with the Royal Australian Air Force (RAAF).
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The Australian team has applied digital engineering and advanced composite materials to achieve cost and agility goals for the 38-ft (11.7-meter) aircraft, which is designed to use artificial intelligence in teaming with other manned and unmanned platforms.
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This first Loyal Wingman prototype will provide key lessons toward production of the ATS, which Boeing Australia is developing for the global defense market. Customers will be able to tailor ATS sensors and systems based on their own defense and industrial objectives.
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The next major milestone will be weight on wheels, when the fuselage structure moves from the assembly jig to the aircraft’s own landing gear to continue systems installation and functional testing. The aircraft is expected to complete its first flight this year.
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ST Engineering and Wilhelmsen Ships Service (WSS) will be collaborating to develop and test solutions to enable Beyond Visual Line Of Sight (BVLOS) Unmanned Aircraft Systems (UAS) operations for shore-to-ship parcel deliveries in Singapore.
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As part of this collaboration, ST Engineering will provide a suite of flight tests and technology development services for system integration and solution prototyping. Key enabling technologies to be developed include precision landing on-board ship vessel’s metallic platform, non line-of-sight datalink and parcel delivery authentication and release system. At the same time, WSS will help to strengthen the commercialisation and operational aspects of the solution development. This collaboration will receive funding as part of the Call-For-Proposal by the Civil Aviation Authority of Singapore (CAAS) and the Singapore Ministry of Transport, which aims to support the development of systems and technologies to enable innovations within the wide-ranging use of UAS.
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One of the leading participants in the UAS industry, ST Engineering has been developing in close collaboration with regulators and industry partners, solutions that make use of the latest smart and unmanned technologies for military and commercial applications. The Group signed an MOU with CAAS in early 2018 to facilitate the development of BVLOS UAS operations in Singapore’s urban environment, including within and near an aerodrome. In January 2019, ST Engineering’s DroNet, an end-to-end solution that applies advanced unmanned technologies such as drones through a network system to carry out specific tasks or services, was granted the very first BVLOS permit for trial operations in Singapore.
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MTU Maintenance and long-term partner BA CityFlyer have extended their exclusive CF34-8E and -10E MRO contract to year end 2023.
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BA CityFlyer is a wholly-owned subsidiary of British Airways. It flies 24 E190 and E170 aircraft from London City airport to destinations across the United Kingdom and Europe. When business destinations are reduced on weekends from London city, the airline serves leisure routes from other UK airports such as London Stansted and Manchester to European destinations such as Greece, Portugal and Spain.
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In January, Finnair experienced strong demand and carried 1,122,000 passengers, 11.3% more than in the corresponding period of 2019. The overall capacity increased in January by 10.5% and traffic was up by 11.9%. The load factor increased year-on-year by 1.0% points to 78.0%.
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UPCOMING EVENTS
March 24 - 26, 2020 - London, UK
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