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LATEST NEWS
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Thursday, April 29th, 2021
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Scandinavian Airlines System Aktiebolag (SAS AB) has announced that the Board of Directors has appointed Avianca Holdings’ CEO Anko van der Werff as the new President and CEO of SAS AB. He will take up his new position with the Group on July 15, 2021.
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Van der Werff has held senior positions in the aviation industry, having spent ten years with Air France KLM between 2000 and 2010, rising to the position of Commercial Director U.K./Ireland, United Kingdom. Between 2010 and 2014 van der Werff worked at Qatar Airways Group in a number of roles including SVP Pricing & Revenue Management, while between 2014 and 2019 he was the Executive Vice President & Chief Commercial Officer at Groupo Aeromexico. In 2019 until the present time, he has been the President & Chief Executive Officer of Avianca Holdings.
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Chairman of SAS AB’s Board of Directors, Carsten Dilling commented: “After an extensive, thorough, and intense process, I have been excited to see the comprehensive field of top talented candidates from the global airline industry that SAS as a brand is attracting – further strengthened by a large interest in SAS’ ambitious efforts within sustainability. Therefore, I’m proud that we today can announce Anko van der Werff as new CEO for SAS AB.
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The Boeing Company has reported first-quarter revenue of US$15.2 billion, primarily driven by lower 787 deliveries and commercial services volume, partially offset by higher 737 deliveries and higher KC-46A Tanker revenue. GAAP loss per share of (US$0.92) and core loss per share (non-GAAP) of (US$1.53) reflect year-over-year KC-46A Tanker improvement, higher 737 deliveries, and lower commercial airplanes period costs, partially offset by lower tax benefits and higher interest expense. Boeing recorded operating cash flow of (US$3.4) billion.
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Commercial Airplanes first-quarter revenue decreased to US$4.3 billion, driven by lower 787 deliveries, partially offset by higher 737 deliveries. First-quarter operating margin improved to (20.1)%, primarily due to higher 737 deliveries and lower period costs.
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Boeing is continuing to make progress on the safe return to service of the 737 MAX worldwide. In addition, it is working closely with the FAA and its customers to address electrical issues identified in certain locations in the flight deck of select 737 MAX airplanes. Since the FAA's approval to return the 737 MAX to operations in November 2020, Boeing has delivered more than 85 737 MAX aircraft and 21 airlines have returned their fleets to service, safely flying more than 26,000 revenue flights totaling over 58,500 flight hours (as of April 26, 2021). The 737 program is currently producing at a low rate and continues to expect to gradually increase production to 31 per month in early 2022 with further gradual increases to correspond with market demand. The company will continue to assess the production rate plan as it monitors the market environment and engages in customer discussions.
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The company also resumed 787 deliveries in late March, following comprehensive reviews to ensure each airplane meets the company's highest standards. During the quarter, the 787 program consolidated final assembly to Boeing South Carolina and transitioned to the previously announced production rate of 5 aircraft per month.
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Commercial Airplanes continues to work closely with global regulators on all aspects of 777X development, including its rigorous test program, and the company still expects to deliver the first 777X in late 2023. As previously announced, the combined 777/777X production rate is transitioning to two aircraft per month.
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Commercial Airplanes secured orders for 100 737 aircraft from Southwest Airlines, 25 737 aircraft from United Airlines, 23 737 aircraft from Alaska Airlines, and four 747 freighter aircraft from Atlas Air. Commercial Airplanes delivered 77 airplanes during the quarter and backlog included over 4,000 airplanes valued at US$283 billion.
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Russian airline Utair Aviation JSC (Utair) has selected StandardAero to provide overhaul support for the Pratt & Whitney PW127M engines powering its fleet of ATR 72-500 regional turboprops. StandardAero will support Utair from its OEM-authorized PW100 Designated Overhaul Facilities (DOFs) in Summerside, PE, Canada and Gonesse, France.
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This new agreement cements the existing relationship between the two companies. StandardAero has supported Utair’s PW127M engine fleet with hot section inspection (HSI) repairs and warranty inspections for several years, contributing to the airline’s reputation as one of Russia’s most punctual air carriers. StandardAero has also previously provided Utair with repair services in support of its fleet of Airbus H125 light turbine helicopters.
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Commenting on the agreement for Utair, Albert Salimov, Technical Director for the airline said, “This new agreement is a re-newed confirmation of the exceptional level of cooperation between our respective engineering teams. StandardAero and Utair will continue working together to build the conditions required for the optimum levels of dispatch reliability which will underpin our growth path as one of the leaders in the Russian market.”
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Lufthansa Technik and Airbus will team up to offer customers a reversible Cargo-in-Cabin solution to satisfy urgent demand quickly and easily. The solution for the Airbus A330-family comprises the Supplemental Type Certificate (STC) as well as material kits to modify the passenger aircraft for temporary cargo transport. Cargo capacity is thus increased by up to 15 tons of additional payload depending on aircraft configuration. Finnair is the first airline to modify an Airbus A330-300 to carry commercial, non-dangerous goods in the main pax deck.
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Due to the slow air traffic recovery belly capacity is still low and not likely to return until 2024 to pre-Covid level. Additionally, the exemptions granted by the authorities in the beginning of the pandemic to reuse passenger cabins to transport medical supplies expired. Together with Airbus, Lufthansa Technik now responds with the "Temporary Cargo Cabin", an STC which allows to modify a passenger cabin into a cargo hold.
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Finnair is the launch customer for the "Temporary Cargo Cabin": The operator modified an Airbus A330 at its home base in Helsinki lately, the approval process for the STC is underway. The simple embodiment can be carried out at any Part 145 provider worldwide.
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Silk Way West Airlines, a private cargo operator, will expand its international network by signing an order with Boeing for five 777 freighters. The deal marks the first purchase of the long-range, high-capacity twin-engine freighter in the Caspian region and Central Asia. The airplanes will enable the airline to increase its capacity to meet growing cargo demand around the globe.
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Founded in 2012 in Baku, Azerbaijan, Silk Way West Airlines is the largest cargo airline in the Caspian Sea region with an annual cargo turnover of 350,000 tons. Based at Heydar Aliyev International Airport in Baku, the airline operates approximately 350 monthly scheduled flights to 40 destinations around the world.
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Airbus has released that gross commercial aircraft orders totaled 39 (Q1 2020: 356 aircraft) and included 38 single-aisle aircraft in the first quarter of 2021. After cancellations, net commercial aircraft orders were -61 (Q1 2020: 290 aircraft) with the order backlog comprising 6,998 aircraft on March 31, 2021. Airbus Helicopters booked 40 net orders (Q1 2020: 54 units), including two Super Puma-family rotorcraft and one H160. Airbus Defence and Space’s order intake by value was €2.0 billion (Q1 2020: €1.7 billion) and included major contract wins in Space Systems and recurring services orders in military aircraft.
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Consolidated revenues were broadly stable year-on-year at €10.5 billion (Q1 2020: €10.6 billion). A total of 125 commercial aircraft were delivered (Q1 2020: 122 aircraft), comprising nine A220s, 105 A320 Family, one A330 and ten A350s. Revenues generated by Airbus’ commercial aircraft activities decreased by 4%, mainly reflecting lower volume in services. Airbus Helicopters delivered 39 units (Q1 2020: 47 units) with revenues reflecting lower volume in civil helicopters, partly offset by growth in services. Revenues at Airbus Defence and Space were stable compared to a year earlier.
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Consolidated EBIT Adjusted increased to €694 million (Q1 2020: €281 million). Consolidated EBIT (reported) amounted to €462 million (Q1 2020: €79 million), including adjustments totaling a net €-232 million.
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The financial result was €59 million (Q1 2020: €-477 million). It mainly reflects the revaluation of financial instruments and the evolution of the US dollar as well as €43 million from the revaluation of the Dassault Aviation equity stake, partly reduced by the net interest result of €-82 million. Consolidated net income was €362 million (Q1 2020 net loss: € -481 million) with consolidated reported earnings per share of €0.46 (Q1 2020 loss per share: € -0.61).
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Aergo Capital (Aergo) has completed the acquisition of twenty 2003-11 Vintage DHC-8-Q400 aircraft from a major financial institution. FPG Amentum acted as agent on the deal. The aircraft were acquired naked. In parallel, LOI negotiations for the lease of a number of these aircraft are progressing.
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Fred Browne, Chief Executive Officer of Aergo, commented: “In the near-term future, there is growing appetite from the regional traffic sector and we believe the sector will lead the recovery post COVID. As part of Aergo’s strategic focus, investment in the regional and turboprop space presents great opportunities. We are confident in our ability to place these aircraft in the near term and are in discussions with a number of players to quickly deploy a large proportion of this fleet.”
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