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Monday, April 2nd, 2018
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LATEST NEWS
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Despite only 52.4 percent of shareholders agreeing to the takeover, Melrose Industries has made a successful bid of £8 billion (US$11 billion) to take over the British engineer GKN after a bitter three-month-long battle. This has been seen as the largest successful hostile bid since Kraft took over Cadbury in 2009.
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Melrose is a UK-based turnaround specialist and the greatest fears have been that if successful, Melrose would divide up the company and sell off individual elements. Among other things, the GKN makes doors for Volkswagen and components for aircraft including the Eurofighter Typhoon. Melrose’s motto is “Buy, improve, sell”.
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While there has been considerable concern over a compromise to national safety if the aerospace arm of the business were to be sold off to an overseas investor, it is understood that while a promise has been made that the combined firm would remain headquartered in the U.K. Melrose has also made a series of legally binding commitments about GKN’s future this week, including pledges on research and development expenditure.
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Business minister Greg Clark said on Thursday that Melrose is “bound to honor” those commitments.
“Now that shareholders have made their decision the government has a statutory responsibility to consider whether the merger in its proposed final form gives rise to public interest concerns,” he added.
“This assessment will be made by the appropriate authorities and the conclusion set out in due course.”
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Despite Melrose’s victory, GKN said it still believed the bid “fundamentally undervalues” its business.
Melrose shares closed up 3.4 percent at 231 pence (US$2.84), lifting the value of its offer for the engineer to about 471.4 pence (US$5.80) per GKN share. That values GKN as a whole at about 8 billion pounds (US$11 billion).
Shares in GKN finished up 9.5 percent at 463 pence (US$5.70).
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According to Reuters, Melrose plans to delist the company if it secures acceptances from 75 percent, which would leave investors who have still not backed the offer with a stake in an unlisted business.
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The U.S. Department of Transportation (DOT) has proposed to award new scheduled U.S. carrier flights to Havana. The awards became possible when several U.S. carriers previously awarded Havana authority chose to return their awards.
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American Airlines can now fly from Miami, once daily, Delta Air Lines from Miami, once daily, JetBlue Airways from Fort Lauderdale, 6 times weekly, JetBlue Airways from Boston, 1 time weekly, Southwest Airlines from Fort Lauderdale, once daily and United Airlines/Mesa Airlines from Houston, 6 times weekly.
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The Department’s principal objective in making its proposed selections was to maximize public benefits, including choosing carriers that offered and could maintain the best ongoing service between the United States and Havana. Through these proposed selections, DOT seeks to simultaneously address service needs while promoting competition.
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Under an arrangement with Cuba signed in 2016, each country may operate up to 20 daily roundtrip flights between the United States and Havana. Several U.S. carriers that were awarded flights in 2016 have since returned them, and DOT is seeking to reallocate them to interested carriers. Because the applicants seek more opportunities than are available, DOT is conducting a proceeding to allocate the opportunities in a manner that will maximize public benefits.
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Kazakhstan carrier SCAT Airlines has taken delivery of the first 737 MAX 8 airplane, one of six that the airline will operate as it expands its fleet and service.
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SCAT has long operated the fuel-efficient and reliable Boeing Next-Generation 737. With the new 737 MAX, SCAT will be able to achieve a further double-digit improvement in fuel efficiency and environmental performance. And SCAT will be the first in Central Asia to fly the MAX.
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SCAT announced an order for six 737 MAX 8s at the 2017 Dubai Airshow. The agreement, valued at US$674m at list prices, includes purchase rights for five additional 737 MAX 8s.
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FL Technics, a global provider of integrated aircraft maintenance, repair and overhaul services, has signed the agreement with Corendon Dutch Airlines for base maintenance services for their fleet of 3 aircraft.
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Corendon Dutch Airlines is the Dutch airline of the Corendon Travel Group which started operations under its own Air operator certificate in April 2011. It takes passengers to destinations in Europe and North Africa.
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Embraer has delivered the first new Phenom 300E business jet, having received its type certificate in the first quarter from the U.S. Federal Aviation Administration (FAA), the European Aviation Safety Agency (EASA), and the Brazilian Civil Aviation Agency (ANAC – Agência Nacional de Aviação Civil).
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The new light jet model was launched—and debuted—at the 2017 National Business Aviation Association’s Business Aviation Conference and Exhibition (NBAA-BACE), in October 2017. The new aircraft is designated “E” for “Enhanced” in reference to its entirely redesigned cabin and the addition of the nice® HD CMS/IFE (Cabin Management System/InFlight Entertainment) by Lufthansa Technik.
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The Phenom 300, the new model’s successful predecessor, has been the best-selling and most delivered light business jet for the last six years.
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The Phenom 300E inherits the Embraer DNA Design, first introduced in its larger siblings, the Legacy 450 and Legacy 500 midsize jets. The application of this design in the Phenom 300E rendered a more spacious cabin with more customization options and ease of maintainability.
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Volvo Aero MRO has begun working with the University of Massachusetts Life Science Laboratories facility Additive Fabrications department to develop piece part fixturing from 3D printed processes.
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The first fixture under development is being manufactured using the selective laser sintering (SLS) method. The aim of the project is to develop process and knowledge of printing fixtures directly from CAD to end product within acceptable tolerances and with reduced time and costs of conventional fixture manufacturing.
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As a small business Volo Aero MRO is constantly looking at ways to use technology in an innovative way to improve its ability to compete in the global market.
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Aireon has announced the fifth successful launch and deployment of its space-based Automatic Dependent Surveillance-Broadcast (ADS-B) payloads, hosted by the Iridium® NEXT satellite constellation. At 7:13:51 AM PDT (14:13:51 UTC), a flight-proven SpaceX Falcon 9 rocket lifted off from Vandenberg Air Force Base in California, bringing the total number of Aireon payloads in orbit to 50.
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When the Aireon payloads from the fifth launch come online, the system will have nearly global coverage with 15-minute or better update intervals. This signifies optimal timing for airlines to begin testing the capabilities of space-based ADS-B. This will assist airlines with meeting the International Civil Aviation Organization (ICAO) and European Aviation Safety Agency (EASA) regulations that require aircraft be equipped with an aircraft tracking system for those flights not tracked by air traffic control by the end of 2018. With the Aireon service and access to the space-based ADS-B data, airlines can meet this directive set by regulators and safety organizations.
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“We’re over two-thirds of the way there,” said Don Thoma, CEO, Aireon. “And as we get closer to a fully operational system, thorough testing and validation is now underway with our customers and partners.” Thoma continued, “Aireon is working closely with not only ANSPs, but partners like FlightAware to ensure airlines have early access to this global data, ahead of regulations and requirements. Aireon will be able to help airlines meet these mandates, and upon completion of the constellation, update rates of a few seconds will be the service standard around the world.”
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Air Canada has nominated Gary A. Doer to its Board of Directors to be voted on at its upcoming Annual Meeting of Shareholders (AGM) to be held on April 30, 2018 in Montreal, Quebec.
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Roy J. Romanow will retire from the Board at the conclusion of the company's AGM after more than eight years of dedicated service.
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Mr. Doer is the former Canadian ambassador to the United States and during his tenure from 2009 to 2016, he participated in the negotiations of the Canada-U.S. new border agreement and the Trans-Pacific Partnership tentative agreement.
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In late December 2017, AFI KLM E&M and Tunisair signed a new Time & Material engine support contract covering the CFM56-5A, CFM56-5B and CFM56-7B engines powering the Tunisair fleet's sixteen Airbus A320s, four A319s and seven Boeing 737s. The Tunisian flag carrier had launched a call for tenders in late 2016 aimed at selecting two MRO suppliers for each engine type. Following the consultation, AFI KLM E&M was the sole candidate to be selected to handle all three engine-types simultaneously.
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In the framework of the contract, AFI KLM E&M again demonstrated its adaptability and ability to offer its customers tailored, rapid-turnaround solutions. For example, at the request of Tunisair, the MRO was able to deal with a one-off commission to return four CFM56-5A engines (to be used in support of the Tunisian carrier's summer season schedule) to serviceable condition.
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A first engine has already been returned to service thanks to the intervention of an AFI KLM E&M technical team in Tunis. Two others are now undergoing repairs at the AFI KLM E&M shop in Paris, and the fourth is currently being transported to the facility.
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Singapore Airlines (SIA) has unveiled the next generation of regional cabin products, fitted on its new Boeing 787-10 fleet, which will redefine travel on flights up to eight hours.
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The new cabin products feature fully-flat beds and direct aisle access for all Business Class customers, ergonomically-designed contour backrests with six-way adjustable headrests in Economy Class, and personalised in-flight entertainment (IFE) experience for all customers through myKrisWorld.
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They were unveiled for the first time on March 28, at a launch event in Singapore. The launch followed the arrival of the world’s first 787-10 from Boeing’s production facility in North Charleston, South Carolina.
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The new 787-10s are configured with 337 seats in two classes, featuring 36 Business Class seats and 301 Economy Class seats.
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SIA is investing US$350m in the introduction of the new regional cabin products on an initial 20 787-10s.
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SIA is the first and largest customer for the 787-10, with firm orders for 49 of the type. The Airline also has a firm order with Boeing for 20 777-9s, which are due for delivery from the 2021/22 financial year.
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Osaka and Perth will be the first scheduled destinations to be served by the new 787-10s, from May 2018. Prior to the launch of these regular services, the aircraft will be operated on selected flights to Bangkok and Kuala Lumpur for crew training purposes.
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UPCOMING EVENTS
June 5, 2018 – Jury’s Inn Hotel, Prague
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