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Wednesday, May 2nd, 2018
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LATEST NEWS
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Boeing has announced that it has entered into a definitive agreement to acquire KLX Inc. excluding KLX Inc.’s Energy Services Group. KLX is a major independent provider of aviation parts and services within the aerospace industry.
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The intention is for KLX to become fully integrated with Boeing’s Aviall in order to broaden the scope of what customers can be offered, while also providing a clear route to accelerate the business’ growth. KLX’s Miami facilities are anticipated to remain as the principal operating location.
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According to Stan Deal, president and CEO of Boeing Global Services: "This acquisition is the next step in our services growth strategy, with a clear opportunity to profitably grow our business and better serve our customers in a $2.6 trillion, 10-year services market. By combining the talent and product offerings of Aviall and KLX Inc., we will provide a one-stop-shop that will benefit our supply chain and our various customers in a meaningful way."
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KLX's Aerospace Solutions Group revenue in the 2017 financial year was US$1.4 billion and Boeing anticipates a neutral earnings impact through 2019 and accretion thereafter with the acquisition, while annual cost savings should increase to approximately US$70 million by 2021, plus further improvements realized over time. The transaction will be financed primarily with cash on hand, supplemented with debt.
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With approximately 2,000 employees, KLX Aerospace Solutions Group is headquartered in Miami with customer service centers located in more than 15 countries. As a major independent provider of new aviation parts and related aftermarket services, KLX markets and distributes products for approximately 2,400 manufacturers and offers approximately 1 million catalog items.
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The agreement comprised an all-cash transaction for US$63 per share and the assumption of approximately US$1.0 billion of net debt, totaling US$4.25 billion. The sale is expected to close by the third quarter of 2018.
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Dubai Aerospace Enterprise (DAE) has signed its first maintenance agreement with Turbine Services & Solutions (TS&S), an engine maintenance, repair and overhaul (MRO) provider for gas turbines and driven equipment that is wholly owned by Mubadala Investment Company PJSC.
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Announced during the Global Aerospace Summit in Abu Dhabi, the contract will enable TS&S to service various engine types within DAE’s substantial portfolio, including the Trent 700, GEnx and the V2500 engine, one of which has already been repaired in the Abu Dhabi facility.
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Boeing and Uzbekistan Airways, the flag carrier of the Republic of Uzbekistan, have finalized an order for one 787-8 Dreamliner, valued at US$239m at current list prices.
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Uzbekistan Airways currently operates two Dreamliners on international routes, including Europe, Southeast Asia, Japan and USA. With this latest order, the carrier will add five more Dreamliners as part of its plan to modernize and expand its fleet.
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“Our companies have been partners for over 20 years and these relations only strengthen with time,” said Gennadiy Kharlap, Deputy General Director of Uzbekistan Airways. “The agreement for an additional Boeing 787-8 Dreamliner supports our development strategy focused on modernization and expansion of the airline's fleet and network, and marks another great milestone in our long-term cooperation.”
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Heathrow Airport has had a record start to the year, with Passengers and trade flowing through Heathrow soared to record highs, as Heathrow climbed the global airport rankings coming in as the seventh best airport in the world and retaining the top spot in Western Europe for the fourth year running at the annual Skytrax Awards.
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Passenger satisfaction with Heathrow is at its highest level, supported in Q1 by Heathrow’s investments in winter resilience which kept the UK’s hub open during one of the worst winters in recent years while delivering lower operating costs per passenger.
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Lower operating costs per passenger and higher retail spending resulted in strong revenue growth of 3.8% to £680m and increased Adjusted EBITDA by 5.2% to £402m. Underpinned by a successful financing strategy that raised over £350m in global markets.
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AAR has announced a strategic partnership with Sumitomo Precision Products (SPP), to provide global support to airlines and MRO customers for the IAE V2500 Pneumatic Starter and Starter Air Valve.
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AAR’s OEM Aftermarket Solutions group will utilize its global customer support team and warehousing network to provide exceptional customer support for the starter, starter air valve, and related sub-assembly components.
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“With the help of AAR’s globally allocated customer support network, SPP is truly excited and strongly committed to provide better component service to V2500 engine operators and MRO customers,” said the SPP Product Support team.
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Air Canada has posted first quarter 2018 EBITDAR (earnings before interest, taxes, depreciation, amortization, impairment and aircraft rent) of CA$397m compared to first quarter 2017 EBITDAR of CA$366m.
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Air Canada reported an operating loss of CA$14m compared to an operating loss of CA$30m in the first quarter of 2017. The airline reported an adjusted pre-tax loss of CA$72m in the first quarter of 2018 compared to an adjusted pre-tax loss of CA$63m in the prior year's quarter.
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On a GAAP basis, in the first quarter of 2018, Air Canada reported a loss before income taxes of CA$18m, which included losses on foreign exchange of CA$112m, compared to a loss before income taxes of CA$13m, which included gains on foreign exchange of CA$70m, in the first quarter of 2017.
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Air Canada recorded an adjusted net loss of CA$52m in the first quarter of 2018 compared to an adjusted net loss of CA$63m in first quarter of 2017.
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IFS, the global enterprise applications company, has launched IFS Maintenix™ Fleet Planner and IFS Maintenix Line Planner, two Software-as-a-Service (SaaS) solutions designed to help commercial operators of all sizes boost the efficiency of their long-range and line maintenance planning, make the most effective use of available maintenance resources, and drive greater aircraft operational availability.
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The launch represents the first in a series of SaaS-based IFS Maintenix solutions geared specifically for the mission-critical maintenance and engineering needs of the global commercial aviation market.
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Commercial aviation is witnessing an unprecedented growth in fleet sizes worldwide. Key to an operator’s success is delivering the best maintenance plans that align closely with operational performance objectives while adhering to critical safety requirements.
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IFS Maintenix Fleet Planner is designed to help generate more effective long-range plans for heavy maintenance activities and reduce the manual effort of keeping them up-to-date. It quickly and automatically generates simple or complex fleet maintenance plans, and gives users the ability to compare plans against key performance indicators, model ‘what if’ scenarios, and publish to production. These efficiency gains ensure decision-makers have the time and insight to choose the best possible plan and quickly react to schedule changes.
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IFS Maintenix Line Planner enables planners to efficiently create, maintain and communicate an executable line maintenance plan. The solution helps drive greater efficiencies by focusing attention on high priority items and identifying the cause of maintenance issues, such as lack of parts, labour or special tools. Through automated workflows, IFS Maintenix Line Planner empowers users to more readily react to last-minute schedule changes and maximise line operational capability, maintenance task yield, and network resources.
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Both IFS Maintenix solutions work seamlessly with any maintenance and engineering software system, and are deployed in a SaaS environment, enabling organisations to quickly and cost-effectively capitalise on innovative solutions to meet the evolving business needs of their maintenance management operations, while easily scaling in lockstep with changes to organisational and aircraft fleet plans.
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SkyWorks Capital has appointed Olaf Sachau to serve as Managing Director. Sachau will be based in the Company’s headquarters in Greenwich, Connecticut.
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He will support origination and execution of advisory and other engagements with airlines and financial institutions worldwide, as well as the development of relationships with investors seeking to enter the aviation financing sector as part of SkyWorks’ strategy to expand its asset management business.
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Sachau has held various senior positions, most recently as CEO of Intrepid Aviation. Prior to Intrepid, he was CEO and Managing Director at Amentum Capital, Dublin, a wholly owned subsidiary of HSH Nordbank.
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A strategic partnership between AJW Group and COMAC has seen the first advanced regional jet developed by the Chinese manufacturer successfully complete crosswind testing at Iceland’s Keflavik International Airport.
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COMAC’s ARJ21 aircraft has been flying since June 2016 and the completion of these tests will now enable COMAC to broaden the operating parameters of the aircraft. This is a huge strategic achievement for COMAC and the Chinese government which will allow the manufacturer to fulfill the 453 orders placed to date.
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Keflavik International Airport is the location of choice for major aircraft manufacturers to conduct crosswind testing due to the angle of the runway and the high winds in the region.
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AJW has been working closely with COMAC and Iceland’s airports authority, ISAVIA, since September 2017 to manage the five-week testing programme, which involved a delegation of more than 100 engineers, meteorologists, pilots and support staff travelling to Iceland from China to carry out the tests. AJW coordinated the logistics, flight plan approvals, test flight assessments and spares and maintenance support throughout the tests.
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Bombardier Commercial Aircraft has concluded a firm order for 10 new Q400 aircraft with Ethiopian Airlines.
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The order also includes purchase rights for five additional Q400 aircraft. Based on the list price of the Q400 aircraft, the firm order is valued at approximately US$332m.
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The Q400 aircraft is the most recent development in the Q Series family of aircraft. In addition to the standard single-class configuration, Q400 aircraft are available with an optional dual-class interior for enhanced passenger comfort; in an optional extra-capacity configuration offering up to 90 seats for higher-density markets; and in a cargo-passenger combi configuration.
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UPCOMING EVENTS
June 5, 2018 – Jury’s Inn Hotel, Prague
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