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LATEST NEWS
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Tuesday, May 21st, 2019
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Ryanair has reported its lowest annual profit for four years, warning that earnings could fall further during what CEO Michael O’Leary describes as “attritional fare wars”. Shares closed at €10.30, a drop of 4.6%, having rallied slightly from a 6% drop after reassurance from O’Leary that a couple of years of lower fares and profitability was a reasonable price to pay for consolidation and an increased market share. This is still 40% below its August 2017 high of €19.39 prior to disruptive industrial unrest and fare weakness.
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"Our strategy would be to keep adding capacity as quickly as we can in all the markets where we can," O'Leary commented, adding: "Will it be painful for a year or two, yes it will. But will it shake out more of the competition, yes it will."
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The €1.02 billion after-tax profit annual profit to March 31, a drop of 29% year on year, was in line with investor forecasts, while revenues increased 6% to €7.56 billion, traffic grew 7% and fares declined 6% for the year. However, the low-cost carrier’s forecast for the current financial year, ending March 31, 2020, at between €750m and €950m was much worse than anticipated. However, this figure includes the acquisition of loss-making Laudamotion for the first time.
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Ryanair has also been hit by the worldwide grounding of the Boeing 737 MAX jet in March.
While the carrier currently has none of the aircraft, it had anticipated, starting early this year, to take delivery of the first of the 135 737 MAX 200s it has on order with an option for a further 75. This delay has forced the carrier to cut around 1 million seats for the period to end March 2020. However, despite the delays in delivery of the MAX200s, which is suspended until the FAA grants Boeing approval for upgrades which are believed to reduce the likelihood of any similar crash to the two recent ones, Ryanair anticipates operating up to 50 of the MAX 200 aircraft by next summer.
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Several Ryanair rival airlines have warned of an even tougher trading environment ahead owing partly to overcapacity together with uncertainty over Brexit which has resulted in many European passengers holding off booking their summer holidays.
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Honda Aircraft Company plans to expand its global headquarters in Greensboro, NC by investing an additional US$15.5 million in a new 82,000-ft² facility on its 133+ acre campus in Greensboro. This will bring the company’s total capital investment in its North Carolina facilities to more than US$245 million.
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Scheduled to break ground in July 2019, the building will house a new wing assembly process for the HondaJet Elite. The new facility will allow for more wings to be assembled concurrently, resulting in a major increase in production efficiency. Additionally, this expansion will add more storage for service parts for the growing fleet of HondaJets around the globe. The facility is expected to be completed in July 2020.
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Airbus has delivered its 12,000th aircraft ever in its 50-year history. The aircraft was an A220-100, assembled in Mirabel, Canada and handed over to U.S.-based Delta Air Lines.
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The aircraft is the 12th A220 delivered to date to Delta Air Lines since the carrier received its first A220 in October 2018. The A220 started scheduled service with Delta in February 2019. Delta is
the first U.S. airline to operate the A220 and is the largest A220 customer, with a firm order for 90 aircraft.
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This milestone delivery of a Canadian-made Airbus aircraft to a U.S.-based airline highlights the growing presence of Airbus in North America. Since Airbus’ leadership of the A220 programme became effective on July 1, 2018, ground was broken in January this year in Mobile, Alabama for the construction of a second A220 final assembly line, set to start deliveries to U.S. customers in 2020.
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Airbus delivered its first aircraft, an A300B2 to Air France, back in 1974. Fast forward to 2010, Airbus handed over its 6,000th aircraft, 36 years after its first. The pace continued to accelerate, taking Airbus just nine years to double that number, reaching 12,000th Airbus aircraft delivery on May 20, 2019.
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Embraer's new Praetor 600 super-midsize business jet was granted its Type Certificate by EASA (European Union Aviation Safety Agency) and by the FAA (Federal Aviation Administration). The announcement was made during the company’s press conference at the European Business Aviation Conference and Exhibition (EBACE) in Geneva, Switzerland.
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Brazil’s Civil Aviation Authority (ANAC—Agência Nacional de Aviação Civil) awarded the new aircraft its Type Certificate on April 18 of this year. The Praetor 600 was announced and debuted at NBAA-BACE, in October 2018, and became the only super-midsize business jet to be certified since 2014.
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AAR has completed its first planned overhaul, age exploration and planned inspection of its first U.S. Navy P-8A Poseidon (P-8A) aircraft.
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As part of a seven-year, indefinite-delivery/indefinite-quantity (IDIQ) contract signed last year with the Navy, AAR is providing heavy depot airframe maintenance, as well as year-round field support, for the U.S. fleet. The P-8A aircraft arrived at AAR for its first Age Exploration Plan Depot (AEPD) visit, which is part of a systematic, scheduled maintenance requirement.
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In addition to the P-8A program, AAR has also performed service on the U.S. Navy’s C-40, Clipper, Harrier Jet Sustainment, C-9 Nightingale and H60R fleets.
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All of the maintenance for the P-8A Program is performed at AAR’s Indianapolis facility, which has serviced over 2,000 B737 aircraft both for commercial and government customers.
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The German government has placed a firm order for three ACJ350-900 XWBs, becoming the first government customer for the type, which has already been ordered by private customers.
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The aircraft are destined for a mix of government, troop transport and medical evacuation roles. Delivery of the first aircraft is planned for 2020, and the other two in 2022.
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Cabin outfitting will be facilitated by ACJ’s Easyfit cabin-outfitting concept, which features pre-installed attachments and standardized interfaces that greatly simplify installing walls and furniture in a carbonfibre fuselage.
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The ACJ350-900 XWB can fly 25 passengers 11,100 nm/20,550 km or more than 22 hours in its ultra-long range version.
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Comlux has delivered its first VIP wide body cabin completion on an Airbus ACJ330. Both the interior design and the cabin outfitting have been performed by Comlux Completion, the Completion & Services center of the group, based in Indianapolis USA.
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The ultra-spacious interior of over 200 m² /2200 ft² allows up to 31 passengers to travel in ultimate comfort in various master suites, lounges, dining area, and first-class seating. The aircraft is also equipped with a gym room and an entertainment area featuring a 52in curved OLED monitor.
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Since 2009, Comlux Completion has completed a full range of narrow body completions from ACJ319/BBJ to ACJ321/BBJ3. This aircraft represents the 12th interior completion for Comlux Completion overall and the 1st wide body completion.
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Inflite The Jet Centre, part of the Inflite group of companies, based at London Stansted Airport, has received Authorised Service Centre status from Rolls-Royce to support the engines that power Embraer’s Legacy 600 and 650 business jets. Effective immediately, Inflite will deliver the OEM’s CorporateCare® and CorporateCare Enhanced MRO services to the Rolls-Royce AE 3007, covering line maintenance and power by the hour support.
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The OEM’s CorporateCare, the comprehensive, fixed-cost engine maintenance management programme, protects against unforeseen costs and unscheduled events anywhere in the world and reduces the administrative burdens for operators, freeing them up to focus on their day to day business. Inflite is making investment in parts and training in support of the contract. It is also adding personnel, with an initial four Rolls-Royce trained technicians moving over to its London Stansted facility this month.
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FL Technics, a global provider of integrated aircraft maintenance, repair and overhaul services, earned €119 million in revenue in 2018, which is approx. 14% more than in 2017 (€103 million) and reached net profit of €10.8 million (€5,7 million in 2017).
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FL Technics has expanded their clients’ portfolio by signing Lufthansa Group for a €11 million
contract for 28 aircraft per annum for base maintenance services. The company signed a long-term line maintenance contract with Wizzair for 11 Airbus A320 family aircraft in Vienna line station.
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It also has increased its training program scope for Boeing 777, Airbus A320 NEO, ATR 42/72, Boeing 767, and Airbus A330. Now, FL Technics has 240 technical training programs in 59 locations worldwide
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FL Technics Indonesia earned a Part-145 certificate from U.S Federal Aviation Authority to provide maintenance and repair services to aircraft registered in the United States.
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The company has established FL ARI – a joint venture with China Airlines Leasing Group Holdings Limited (CALC) and its subsidiary Aircraft Recycling International (ARI) that will service aircraft in Harbin (China). FL ARI will operate a 15,000 m² hangar with 4 slots for narrow-body aircraft.
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