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LATEST NEWS
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Tuesday, August 10th, 2021
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SkyWest has signed an agreement with Delta Air Lines (Delta) to purchase and operate 16 new Embraer E175
aircraft under a multi-year capacity purchase agreement. These aircraft are scheduled to be placed into service beginning in the first half of 2022, and will be placed into service ratably through year-end 2022. The aircraft will be purchased by SkyWest from Embraer and delivered new from the factory. SkyWest continues to be the largest owner/operator of the Embraer E175 aircraft in the world.
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SkyWest expects the 16 new E175 aircraft will replace 16 SkyWest-owned or financed CRJ900s currently under its Delta contract, with expirations ranging from the second half of 2022 to early 2023. SkyWest is evaluating the impact of the anticipated displacement of the CRJ900s, including a potential non-cash impairment charge.
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As a result of the coronavirus pandemic and its ongoing and unprecedented impact on the aviation sector, Brussels Airlines has reported a negative EBIT of €-143 million in the first semester of 2021. The non-essential travel ban in the first-quarter and continuous travel restrictions severely impacted the airline’s passenger numbers. First half-year revenues fell 45% below the prior-year level, to €138 million (H1 2020: €252 million). Compared to the previous year, Brussels Airlines transported 57% fewer passengers between January and June. The seat load factor dropped by 11.7 percentage points to 60.7%.
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The coronavirus continues to impact the financial results of the entire aviation industry dramatically and, as a consequence, also Brussels Airlines. A non-essential travel ban in the first quarter of the year, followed by continuous strict travel restrictions, severely impacted passenger numbers. The Belgian airline transported 57% fewer passengers in the first half-year compared to the same period last year.
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As a result, revenue at Brussels Airlines fell year-on-year by 45% to €138 million in the first semester of 2021 (H1 2020: 252 million euros). The operating income of €147 million was 48% lower than the year before (lH1 2020: €281 million). The COVID-19 crisis forced Brussels Airlines – after a good start into the year – to suspend its operation almost entirely for the period between mid-March and mid-June 2020. Since then, the production level is significantly lower and not yet back on pre-crisis levels.
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Willis Lease Finance Corporation has reported second quarter total revenues of US$66.5 million and pre-tax loss of US$1.9 million. For the three months ended June 30, 2021, aggregate lease rent and maintenance reserve revenues were US$49.7 million and spare parts and equipment sales were US$3.6 million. The company reported lower revenue in the second quarter when compared to the prior year period, primarily due to the pandemic’s impact on global travel
and, consequently, worldwide fleet utilization.
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Total revenue was US$66.5 million in the second quarter of 2021, an 11.4% decrease when compared to US$75.0 million in the same quarter of 2020. Lease rent revenue was US$32.4 million in the second quarter of 2021, compared to US$38.5 million in the second quarter of 2020.
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Maintenance reserve revenue was US$17.3 million in the second quarter of 2021, a decrease of 42.4% compared to US$30.0 million in the same quarter of 2020. The decline in maintenance revenue was primarily influenced by lower long-term maintenance revenue, which is associated with engines returning from long-term lease. Long-term maintenance reserve revenue was US$14.8 million in the second quarter of 2021, compared to US$27.2 million in the comparable prior period.
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Nordic Aviation Capital (NAC) is pleased to confirm that it has delivered one Embraer E190, MSN
19000101, to Breeze Airways on lease.
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Breeze Airways is a new low-cost airline, founded by aviation entrepreneur David Neeleman, offering point-to-point flights from smaller secondary airports, bypassing hubs for shorter travel times.
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CBD Aviation, which is the wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., (CBD Leasing), has signed a new agreement with Mexico’s leading carrier Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (Volaris), for the sale and leaseback of four brand-new Airbus A320neo jets, two of which are scheduled for delivery to Volaris by October this year. The remaining two should be delivered by May 2022 and all four have been acquired on long-term leases.
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These neos comprise part of Volaris’ optimization of its fleet plan as it looks to reinforce its low-unit cost operating model to meet post-COVID-19 traffic requirements in alignment with the company’s sustainability strategy. “Volaris will continue an aggressive strategy on growth and strong operational performance. Therefore, our fleet expansion is one of the main pillars of our ultra-low-cost model and will help us reinforce both local and international presence in all the markets we serve,” said Holger Blankenstein, Volaris’ Executive Vice President.
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The fuel-efficient, latest-technology passenger jets will be deployed primarily to shore up Volaris’ leading role in the Mexican domestic market, enabling the airline to seize opportunities as vaccination programs gain momentum and confidence in air travel accelerates.
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Nagasaki-based Oriental Air Bridge has inked a deal with TRAX to implement the web-based eMRO system to manage maintenance activities on its fleet of Bombardier Dash 8 aircraft.
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The airline operates charter flights throughout southern Japan in addition to scheduled services between Nagasaki and remote islands and between Fukuoka and several destinations. The airline has been flying since 1961 – originally known as Nagasaki Airways – having been renamed as Oriental Air Bridge (ORC) in 2001.
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Implementing the eMRO cloud solution with its leading-edge technology will bring many advantages to ORC. Users can have maximum mobility while accessing required documentation and electronic data, viewing assigned maintenance tasks, receiving real-time updates on planned and completed work, tapping into integrated materials modules, and an overall increase in lowered costs, enhanced productivity, and efficiency.
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Astronics Corporation, a leading supplier of advanced technologies and products to the global aerospace, defense and other mission critical industries, has reported financial results for the three- and six-months ended July 3, 2021.
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Consolidated sales were down US$12.5 million from the second quarter of 2020. Aerospace sales were down US$13.4 million, and Test System sales increased US$0.8 million.
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Consolidated operating loss was US$5.9 million, compared with operating loss of US$18.7 million in the prior-year period. The loss in the second quarter of 2021 was due to low volume related to the continued impacts of the COVID-19 pandemic on the global aerospace industry. This impact was partially offset by a US$2.2 million non-cash reduction of the fair value of a contingent consideration liability related to the 2019 acquisition of Diagnosys Test Systems. The prior-year period reflected non-cash goodwill impairment charges of US$12.6 million in the aerospace segment and restructuring-related severance charges of US$4.9 million.
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Consolidated net loss was US$8.1 million, compared with net loss of US$23.6 million in the prior year. Consolidated adjusted EBITDA was US$0.4 million, or 0.3% of consolidated sales, compared with adjusted EBITDA of US$9.2 million, or 7.4% of consolidated sales, in the prior-year period.
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