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LATEST NEWS
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Wednesday, October 14th, 2020
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For the month of September, Boeing Co (Boeing) delivered just 11 aircraft, considerably down on the 25 twin-aisle jets it delivered in September 2019, bringing total aircraft deliveries for the year to 98, again greatly reduced from the 301 aircraft delivered in the first nine months of 2019. This has caused considerable cash flow problems for Boeing as the majority of the price paid for each jet is on delivery. The impact of the coronavirus pandemic has dramatically hit sales for both Boeing and European rival Airbus.
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September also witnessed three further 737 MAX cancellations, two of which were from the BOC Aviation leasing company. That brings the total 2020 cancellations for the MAX variant to 1,006, though this figure is reduced to 436 aircraft when including aircraft order conversions for the MAX and 448 for all Boeing jets.
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According to Boeing, September’s total deliveries included one P-8 maritime patrol aircraft, and three freighters: one 747 to United Parcel Service, one 767 to FedEx Corp and one 777 to Lufthansa Cargo, along with seven 787 Dreamliner jets: one for leasing company AerCap Holdings, three for United Airlines, two for Turkish Airlines and one 787-10 to Taiwan’s EVA Air. During an Aviation Week podcast on Tuesday, Air Lease Corp Executive Chairman Steven Udvar-Házy said that Boeing will face the largest inventory of built new aircraft in its 104-year history, adding that “Boeing has to make some tough decisions by the end of the year on how to deal with this.”
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Air Navigation Solutions (ANSL), a U.K. air traffic management provider, has appointed Andy Hubbard as its Technical Director.
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As Technical Director at ANSL he will be responsible for the strategic development of ANSL’s engineering and technology functions and capabilities. He will also oversee the technical and engineering aspects of projects and operations at both Gatwick and Edinburgh Airports.
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Andy joins ANSL from SITA FOR AIRCRAFT where he was Head of Cockpit Communications and ATC Portfolio.
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FL Technics, a global provider of integrated aircraft maintenance, repair and overhaul services, has signed a long-term contract to support international low-cost carrier Wizz Air Abu Dhabi with complete Continuing Airworthiness Management (CAM) services.
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FL Technics will perform continuous airworthiness management for Airbus A320neo and A320ceo family aircraft, and will provide full CAM services in accordance with the requirements of the General Civil Aviation Authority (GCAA) ensuring a proper control in AMOS system. The scope of work is not limited to full CAM services. It will also cover other engineering services, which Wizz Air requires on a regular and ad hoc basis.
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EngineStands24, a subsidiary of a global provider of Total Technical Care for aircraft operators and lessors, Magnetic MRO, has announced the entering of the wide-body market with the purchase of PW4000-94 engine stands for Boeing B747 and B767 aircraft, manufactured in the U.S.A. by AGSE, as well as Trent 700 engine stands for Airbus A330, manufactured in the U.S.A. by HYDRO Systems KG. The recently acquired engine stands are the first in its portfolio, dedicated to wide-body aircraft.
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According to EngineStands24, the demand for such engine stands has been increasing for a while now and with the recent pandemic, following the growing number of B747 and B767 aircraft being converted for cargo operations, such demand has spiked even more.
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Delta Air Lines has posted financial results for the September quarter 2020. Delta’s adjusted operating revenue of US$2.6 billion for the September quarter was down 79% versus the September 2019 quarter, as demand for air travel remains under significant pressure. Passenger revenues declined 83% on 63% lower capacity. Non-ticket revenue streams have performed relatively better than passenger revenues, with total loyalty revenues declining 60% and cargo declining 25%.
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Adjusted pre-tax loss of US$2.6 billion excludes US$4.0 billion of items directly related to the impact of COVID-19 and the company’s response, including fleet-related restructuring charges and charges for voluntary separation and early retirement programs for Delta employees, which were partially offset by the benefit of the CARES Act grant recognized in the quarter. Delta posted net loss of US$2.1 billion for the quarter.
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Delta ended the September quarter with US$21.6 billion in liquidity. Cash used in operations during the quarter was US$2.6 billion. Daily cash burn averaged US$24 million for the quarter, with an average of US$18 million for the month of September.
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At the end of the September quarter, the company had total debt and finance lease obligations of US$34.9 billion with adjusted net debt of US$17.0 billion, US$6.5 billion higher than Dec. 31, 2019. In September, Delta completed its debt offering, raising US$9.0 billion at a blended average rate of 4.75% secured by its SkyMiles loyalty program. In addition, the company borrowed US$1.5 billion at a blended yield of 4.4% in connection with the issuance of tax-exempt bonds, that will be used to finance the LaGuardia airport project. The company’s total debt had a weighted average interest rate of 4.3% at Sept. 30, 2020.
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For the duration of the winter timetable (until the end of March 2021) Lufthansa will be deploying four of the currently parked Airbus A350-900s to its hub in Frankfurt.
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Over the next few months the A350-900 will be serving Chicago and Los Angeles from Frankfurt, by temporarily replacing the Boeing 747-8 for this period of time. From December onwards, the ultra-modern A350-900 will also be flying from Frankfurt on the route to Tokyo/Haneda instead of the Airbus A340-300. All flights will be operated by Munich-based cabin and cockpit crews.
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Lufthansa’s A350-900 fleet currently encompasses 16 Munich- based aircraft. Due to the sharp reduction in the number of flights offered as a result of the corona pandemic, only seven A350-900s will initially be operated at Munich in the winter timetable of 20/21 on routes to North America and Asia.
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