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Monday, August 12th, 2019
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Delta Air Lines (Delta) will move all its Tokyo-bound flights from Tokyo’s Narita Airport to the city’s closer and more convenient airport, Haneda, in March 2020. Subsequent to the move, the airline will become the largest U.S. carrier serving Japan’s capital city, with seven daily flights between Haneda and Seattle, Detroit, Atlanta, Honolulu, Minneapolis, Los Angeles and Portland. As part of its Asia-Pacific network strategy, Delta will also suspend flights between Narita and Nina Aquino Airport, Manila in March 2020, while launching a new daily flight between Incheon International Airport, Seoul, and Nina Aquino Airport, Manila.
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In September the carrier intends to shelve its Narita to Singapore direct connection, though through its partnership with Korean Air, Delta passengers will still able to reach Singapore by flying to Incheon International Airport and then connecting onwards to Singapore with Korean Air. “We have proudly served Japan for more than 70 years and our commitment to our Tokyo legacy remains strong,” said Steve Sear, President - International and Executive Vice President - Global Sales. “This new service is a game-changer for Delta’s ability to offer competitive and comprehensive access to the city, which is one of the world’s most important business markets. It’s a win for our customers, giving them much quicker access to the city center, and it complements our overall strategy of growth across the Pacific.”
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International Airlines Group (IAG) traffic in July 2019 increased by 4.9% versus the same period last year while IAG capacity rose by 3.9% versus the same period last year. The load factor for July increased 0.9 points to 88.8%
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Australia Post and Qantas have expanded their domestic and international air freight agreement to support the growing demand for parcels.
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Marking nearly a century of partnership between the two brands, it will benefit online shoppers and businesses across Australia by increasing capacity and providing greater network flexibility to meet customer expectations.
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The seven-year agreement valued at over AU$1 billion will give Australia Post customers access to Qantas Freight’s dedicated freighter aircraft and priority access to the cargo space on up to 1,500 Qantas and Jetstar passenger flights to over 110 destinations each day, in addition to space on partner airlines globally.
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It will also see the introduction of up to three Airbus A321P2Fs (Passenger to Freighter) to the freighter network used for Australia Post. Qantas will be the first airline to operate the A321 as a freighter aircraft.
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Each A321P2F will add nearly 50% more capacity – or an additional nine tonnes – compared to the existing Boeing 737 freighters, with the first A321P2F due to enter the fleet in October 2020.
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Zahira Bouaouda has been appointed President of MATIS Aerospace, a 50/50 joint venture between Safran Electrical & Power and Boeing, specializing in electrical wiring interconnection systems. She thus became the first woman to manage an aerospace company in Morocco.
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Zahira Bouaouda began her career in 1997 as an auditor with Dorlian & Associés and then MCA & Associés. She joined KPMG Morocco in 2001 as a Senior Manager and joined MATIS Aerospace in 2006 as Finance Director, before becoming Operations Director in 2017.
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Air Canada has agreed to increase the purchase price for the acquisition of all issued and outstanding shares of Transat A.T. , from CA$13 to CA$18 per share and have amended the Arrangement Agreement dated June 27, 2019 accordingly. Based on the increased consideration, the value of the all-cash transaction is approximately CA$720 million.
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Air Canada has also entered into a lock-up and support agreement with Transat's largest shareholder, Letko Brosseau & Associates Inc., who beneficially owns or has control or direction over 7,277,104 Class B voting shares or approximately 19.3% of all issued and outstanding shares of Transat. Under the terms of its Lock-up and Support Agreement, Letko Brosseau has agreed to support and vote all of the Class B voting shares of Transat it controls at the Special Meeting of Shareholders of Transat on August 23, 2019 or at any adjournment or postponement thereof, in favour of Air Canada's acquisition of Transat.
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AirAsia has taken delivery of its first A330neo aircraft, to be operated by its long-haul affiliate AirAsia X Thailand. The aircraft was delivered via lessor Avolon and is the first of two A330neos set to join the airline’s fleet by the end of the year.
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With its enhanced economics, the A330neo will bring a step-change in fuel efficiency for AirAsia’s long-haul operations. The new-generation A330neo will be based at Bangkok’s Don Mueang International Airport in Thailand, supporting the airline’s growth and network expansion plans to
key markets such as Australia, Japan and South Korea.
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The AirAsia X Thailand A330-900 features 377 seats in a two-class configuration, comprising 12 Premium Flatbeds and 365 economy class seats.
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AirAsia’s long-haul affiliate, AirAsia X currently operates 36 A330-300 aircraft and is the largest customer for the A330neo with 66 on firm order.
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Avant Aerospace has promoted John Hardy to Director, based at their East Alton, IL (ALN) facility while overseeing all Avant locations. Hardy has been with West Star Aviation for 13 years, formerly serving as Director of Avionics, Accessories, NDT, and Aircraft Services.
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He graduated from SIU-Carbondale and has over 30 years of aviation experience with previous positions held at Standard Aero Springfield. In this new position, Hardy will report to Avant’s Senior VP of Parts and Components, Pete McKernan, and will be responsible for Sales, Marketing, and Inventory Sourcing.
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Landing gear manufacturer Héroux-Devtek, has reported strong financial results for the first quarter ended June 30, 2019.
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Consolidated sales grew 67.2% to CA$143.4 million, up from CA$85.8 million in the same period last year. CA$44.6 million of this increase was driven by the CESA and Beaver acquisitions while the growth of Héroux-Devtek legacy sales contributed 15.2% or CA$13.1 million. Commercial sales grew 47.4% to CA$67.4 million, up from CA$45.8 million in the same period last year. The strong increase was driven by the CESA and Beaver acquisitions and growing legacy sales from the ramp-up of the Boeing 777/777x programs.
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Defence sales grew 89.9% to CA$76.0 million, up from CA$40.0 million in the same period last year. This strong increase was driven by the CESA and Beaver acquisitions, growing Héroux-Devtek legacy sales mainly from the ramp-up of the F-35 program and higher aftermarket sales. Gross profit increased to CA$24.2 million, or 16.9% of sales, up from CA$13.1 million, or 15.2% of sales last year. The increase is attributable to the impact of the Beaver and CESA acquisitions and positive foreign exchange rate fluctuations, partially offset by higher manufacturing costs at our Longueuil facility.
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Operating income increased to CA$10.4 million, or 7.2% of sales, up from CA$4.9 million, or 5.7% of sales last year. This quarter’s operating income included CA$0.6 million of non-recurring items, up from CA$0.4 million of non-recurring items in the same period last year. These non-recurring items are mainly acquisition-related costs. Adjusted EBITDA, which excludes these non-recurring items, stood at CA$21.5 million, or 15.0% of sales, compared with CA$12.2 million, or 14.3% of sales, one year ago. Net income for the first quarter of fiscal 2020 stood at CA$6.4 million up from CA$3.6 million in the corresponding period of last fiscal year. Excluding non-recurring items net of taxes, adjusted net income reached CA$7.0 million up from CA$3.8 million last year.
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Gulfstream Aerospace has reported the first customer delivery of its all-new Gulfstream G600™ aircraft. The milestone comes approximately one month after the aircraft earned its U.S. Federal Aviation Administration (FAA) type and production certificates. A U.S. customer took delivery of the aircraft at Gulfstream’s Savannah headquarters.
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The G600 received both FAA type and production certificates on June 28, 2019. The aircraft entered service after a design and test program that included flying nearly 100,000 hours in the company’s labs and more than 3,200 hours of flying in the air.
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Air Lease Corporation (ALC) has posted its financial results for the second quarter ended June 30, 2019.
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ALC took delivery of 16 aircraft from its order book and one aircraft from the secondary market during the quarter, representing approximately US$1.6 billion in aircraft investments, ending the quarter with an operating portfolio net book value of US$17.8 billion with a weighted average age of 3.7 years and a weighted average lease term remaining of 7.2 years. The company placed 97% of its order book on long-term leases for aircraft delivering through 2020 and 77% through 2021.
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ALC ended the quarter with US$28.7 billion in committed minimum future rental payments consisting of US$13.5 billion in contracted minimum rental payments on the aircraft in its existing fleet and US$15.2 billion in minimum future rental payments related to aircraft on order.
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Air Lease Corporation issued approximately US$1.1 billion in aggregate principal amount of Medium-Term Notes comprised of US$750.0 million due 2026 at a fixed rate of 3.75% and US$300.0 million due 2021 that bear interest at a floating rate of three-month LIBOR plus 0.67%.
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In June 2019, the company entered into memorandums of understanding with Airbus to launch the A321 XLR aircraft and to order the A220 aircraft. Through these MOUs, ALC has the right to purchase 27 A321 XLR aircraft, 23 A321neo aircraft and 50 A220 aircraft, and has options for an additional 25 A220 aircraft. In addition, ALC entered into an MOU with Boeing to convert existing purchase orders of 15 737 MAX aircraft to five 787-9 aircraft.
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