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LATEST NEWS
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Friday, July 23rd, 2021
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American Airlines (American) has released its financial results for the second quarter of 2021 in which it has posted a net profit of US$19 million. However, excluding net special items, the net loss for the quarter was -US$1.1 billion on a second-quarter revenue of US$7.5 billion, an 87% increase on the year’s first quarter. The Company recognized US$1.4 billion of net special credits before the effect of taxes in the second quarter of 2021 principally related to the financial assistance received pursuant to Payroll Support Program Agreements.
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American ended the second quarter with approximately US$21.3 billion of total available liquidity, a record for the company. American anticipates keeping near-term liquidity at elevated levels but expects to step down its target liquidity to approximately US$10 billion to US$12 billion in 2022.It has also accelerated the deleveraging process with prepayment of US$950 million spare parts term loan. The Company plans to pay down approximately US$15 billion of debt by the end of 2025 and its daily cash burn rate turned positive for the second quarter to a cash build rate of approximately US$1 million per day. American anticipates reducing its debt by more than US$15 billion by December 2025 compared to previous guidance of US$8 billion to US$10 billion and plans to achieve this objective through naturally occurring amortization, use of excess cash and free cash flow to pay down prepayable debt, and by potentially using cash as opposed to debt for certain future aircraft deliveries.
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American is prepaying the entirety of its US$950 million spare parts term loan that was scheduled to mature in April 2023 as evidence of its commitment to deliver and its confidence in the future. The Company will continue to match its forward capacity with observed bookings trends. Based on current trends, it expects third-quarter capacity to be down approximately 15% to 20% compared to the third quarter of 2019. American expects its third-quarter total revenue to be down approximately 20% compared to the third quarter of 2019 and that its third-quarter pre-tax margin excluding net special items will be between negative 3% and negative 7%.
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VoltAero’s pioneering Cassio hybrid-electric aircraft is now available for U.S. fractional ownership through the company’s teaming with KinectAir, joining its on-demand flight services driven by artificial intelligence and utilizing an advanced smartphone application.
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KinectAir’s “Pioneer” program opens opportunities for fractional owners to reserve share positions, or whole aircraft, in four-seat Cassio 330s – the first Cassio version of VoltAero’s hybrid-electric aircraft family to enter production. The Cassio 330 will be strategically positioned at U.S. airport locations based on user demand.
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VoltAero is advancing the Cassio family’s design phase, building on the validation of its hybrid-electric powertrain through flight trials with the company’s Cassio 1 demonstrator aircraft. Production will begin with the four-seat Cassio 330, featuring a combined hybrid-electric power of 330 kilowatts. Initial Cassio 330 deliveries are targeted for the fourth quarter of 2023, to be followed by the Cassio 480 and Cassio 600, utilizing hybrid-electric propulsion rated at 480 and 600 kilowatts, respectively.
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Cassio aircraft will be integrated in KinectAir’s short/medium-haul infrastructure, with the regional air mobility company applying artificial intelligence to balance passenger demand and air transport availability. KinectAir’s artificial intelligence engine and smartphone app gives passengers control over their choices – both economically and environmentally.
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The “Pioneer” program for Cassio is to be officially launched at next week’s EAA AirVenture Oshkosh aviation gathering in Wisconsin, where VoltAero will be an exhibitor.
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Liebherr-Aerospace has built up an international service network of partners in order to improve the operational availability of heat transfer equipment. The company has established test and cleaning capabilities as close as possible to flight operations around the globe. Together with Liebherr-Aerospace, those partners assure unique OEM quality with highest product reliability.
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The HAECO Group is the latest company to join this network to support customers in the Asia Pacific Region. Established in Hong Kong in 1950, the company has developed its industrial capabilities to perform tests and cleaning of heat exchangers manufactured by Liebherr-Aerospace for the Airbus A320 aircraft family.
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Emirates is connecting global business and leisure travelers with it’s first-ever passenger service between Dubai and Miami. The airline celebrated the inaugural flight of its four times a week service when it touched down in Miami on July 22.
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For the first flight, the airline operated its Boeing 777 Gamechanger, and on the ground, showcased the interiors of the aircraft to guests, featuring its highly popular First-Class private suites. With floor to ceiling sliding doors and sleek design features inspired by the Mercedes-Benz S-Class, Emirates’ First Class suites on the Gamechanger offer up to 40 ft² of personal space each, and ultra-modern design features.
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The airline will subsequently operate its three-class Boeing 777-300ER on the route, featuring eight private suites in First-Class, 42 lie flat seats in Business Class and 304 spacious seats in Economy Class for the four times a week service.
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Along with Orlando, the new service to Miami provides an additional access point to and from Florida and expands Emirates’ U.S. network to 12 destinations on over 70 weekly flights, providing more choice and convenient connections from the Emirates network to Southern Florida. It also links travelers from Miami, as well as Southern Florida, South America and the Caribbean to over 50 points across the Middle East, West Asia, Africa, Far East and the Indian Ocean Islands via Dubai.
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Sine Draco Aviation Development (Sine Draco) has reported that its prototype A321-200 SDF has been inducted for a six-year heavy-maintenance check at Ascent Aviation Services in Tucson, Arizona. Conversion of the prototype airplane to the all-cargo configuration is planned to occur immediately following the heavy maintenance check.
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The Sine Draco A321-200 SDF passenger-to-freighter conversion offers the optimal economic solution for the next-generation narrow-body freighter. Its design includes installation of a 142-inch-wide by 86-inch-high main deck cargo door, Class E main deck cargo compartment with fourteen 88 inch by 125 inch container positions. The lower cargo compartments can also accommodate ten containers, with the A321 being the first airplane type in the narrow-body freighter class with this capability.
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The six-year heavy-maintenance visit includes a comprehensive list of maintenance tasks to be accomplished ensuring that the airplane is maintained in accordance with the Airbus A321 Maintenance Planning Document (MPD). Inspections and repairs of aircraft structure, systems and avionics, and replacement of the legacy flight management guidance computer with FMS Thales R1A, and FG 2G standard will be completed. During maintenance in September 2020, an Automatic Dependent Surveillance–Broadcast (ADS-B) Out system and overhauled main and nose landing gear were installed.
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Sine Draco is a multi-national corporation with headquarters in Nanchang, Jiangxi Province, China with a subsidiary in Bellevue, Washington, U.S.A.
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Textron Aviation is re-aligning its turboprop aircraft lineup as the single-engine Beechcraft Denali (previously branded the Cessna Denali) joins the legendary twin-engine Beechcraft King Air 260 and King Air 360/360ER as part of the company’s high-performance turboprop product lineup. The aircraft development program continues to progress toward a first flight anticipated later this year.
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The Beechcraft Denali is designed to outperform its competition with projected lower operating costs, Garmin G3000 avionics, and the largest cabin in its class. Engineered to achieve cruise speeds of 285 knots with a full fuel payload of 1,100 pounds, the Denali will have a range of 1,600 nautical miles at high speed cruise with one pilot and four passengers.
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The Beechcraft Denali development program has achieved multiple milestones throughout the past six months as it continues to gain momentum toward its first flight. Earlier this month, the first Full Authority Digital Engine Controlled (FADEC) GE Aviation Catalyst engine was installed on the first Beechcraft Denali prototype airframe and the aircraft was powered on for the first time. Engine runs are anticipated in August, followed by a first flight for the aircraft projected for later this year.
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Two other Denali flight test articles are also in development. Three additional ground test articles will be used for the airframe static and fatigue tests, and for cabin interior development and testing. The company anticipates certification for the Denali in 2023.
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Aerospace Engineering Solutions (AES), a U.K. and Ireland aerospace design and certification organisation, has been awarded the Supplemental Type Certificate (STC) for the installation of the aircraft-powered version of Bluebox Aviation System’s wireless in-flight entertainment (W-IFE) system, Bluebox Wow, by the European Union Aviation Safety Agency (EASA).
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Recently issued by EASA, this latest STC (No. 10076801) applies to all Airbus A320 variants with an added feature of an automatic Pause on PA functionality that pauses playback in the event of announcements from the flight deck or cabin crew.
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AES believes this certification will open opportunities to provide aircraft operators of single-aisle, and wide-body aircraft in the future, with Bluebox’s aircraft-powered W-IFE units. The installation is simple with wiring to the W-IFE units easily accessible via the panels in the aircraft cabin. Utilising aircraft power eliminates the need for the logistical management of batteries and still offer a considerably lighter and lower-cost system than fully fitted W-IFE.
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