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LATEST NEWS
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Thursday, February 10th, 2022
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Global full-service aircraft lessor Aviation Capital Group (ACG), wholly owned by Tokyo Century Corporation, has signed a firm contract for 20 Airbus A220s following its order for 40 A320neo-family aircraft including five A321XLRs announced in December 2021.”
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"We are delighted to expand our partnership with Airbus through this A220 order”, said Steven C. Udvar-Hazy, Senior Vice President, OEM Relations & Market Development at ACG. “Our airline customers will appreciate the A220’s environmental friendliness, passenger comfort and competitive operating economics.”
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The A220 is the only aircraft purpose-built for the 100-150 seat market and brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines. Featuring a 50% reduced noise footprint and up to 25% lower fuel burn per seat compared to previous generation aircraft, as well as around 50% lower NOx emissions than industry standards, the A220 is a great aircraft for regional as well as long distance routes operations. The latest agreement lifts the total number of firm orders for the A220 above 700.
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Boeing intents to offer the P-8A Poseidon in response to Canada’s Request for Information (RFI) for long-range maritime patrol aircraft. The Canadian Multi-Mission Aircraft (CMMA) project will replace the Royal Canadian Air Force fleet of CP-140 Aurora aircraft and enhance its anti-submarine warfare (ASW) and intelligence, surveillance and reconnaissance (ISR) capabilities.
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With more than 140 aircraft in service, the P-8 has executed more than 400,000 mishap free flight-hours around the globe. Militaries that operate or have selected the P-8 include the U.S. Navy, the United Kingdom’s Royal Air Force, Royal Australian Air Force, Royal New Zealand Air Force, Indian Navy, Royal Norwegian Air Force, Republic of Korea Navy and German Navy.
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The P-8 shares extensive commonality with Boeing’s 737NG, which has support infrastructure around the globe. Commonality in spares and training for aircrews and maintainers reduces costs substantially and enables military operators to leverage support throughout the world. This proven aircraft and support infrastructure is the basis for delivering a rapid, low-risk, low-cost capability for Canada.
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China Airlines, the flag carrier of Taiwan, has extended the Total Component Support (TCS) contract with Lufthansa Technik for another six years minimum. The agreement covers component support for the Airbus A330 fleet comprising of 23 aircraft. Lufthansa Technik also provides component services for the carrier's Airbus A350 fleet, including simulator components as well as auxiliary power units.
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Jason Tsai, VP Engineering Division of China Airlines, said: "The reliable and high-quality services we have experienced since 2010 had convinced us to extend the contract. A stable operation is crucial for us and Lufthansa Technik has proven to be a dependable partner."
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Aviator Airport Alliance, a full-range provider of aviation services at 15 airports across the Nordics and a family member of one of the largest aerospace service groups Avia Solutions Group, has strengthened its partnership with Eurowings by signing a new contract.
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Under the new partnership agreement, Aviator will provide Eurowings with ground handling and de-icing services at the newly established airline’s base at Stockholm Arlanda airport. The contract will be in effect till 2028.
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This is not the first time the two successful aviation companies partner up. Aviator has been working with Eurowings since 2019, providing them with quality ground handling services among others in Stockholm, Gothenburg, and Malmö airports.
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Eurowings, headquartered at Cologne/Bonn Airport, is the leisure airline of the Lufthansa Group and thus part of the largest aviation group worldwide. The new Stockholm Arlanda base will be its fifth outside the German-speaking region, further strengthening its presence in the Swedish market.
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Aergo Capital Limited (Aergo) has successfully delivered one 2010 vintage Boeing 737-800 aircraft bearing manufacturer serial number 37247 to Alliance Aviation Group.
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Fred Browne, Chief Executive Officer of Aergo, commented: “We are pleased to announce the successful delivery of the Boeing 737-800 to Alliance. I would like to commend the team at Alliance those involved for the ease at which this deal was concluded, and we look forward to further developing our relationship with the airline.”
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Brendan McQuaid, Chief Executive Officer of Alliance Aviation Group, commented: “We are delighted to have had the opportunity to work with the Aergo Capital team on the lease of this 737-800 and the onboarding onto our AOC. We have seen stellar growth in the past 18 months, and we hope that this transaction will be the first of many more to come.”
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ST Engineering's Commercial Aerospace business has signed an agreement to lease up to five Airbus A320 Passenger-to-Freighter (P2F) aircraft to Vaayu Group (Vaayu). Astral Aviation, one of the fastest growing all-cargo airlines based in Nairobi, Kenya, will be the launch operator for the first two of the five A320P2F aircraft by sub-leasing them from Vaayu.
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The first A320P2F, which is being converted by ST Engineering, is expected to be placed on lease in 2Q 2022. This will also be the world’s first A320P2F aircraft to go into operation. ST Engineering will convert and lease the remaining four freighter aircraft progressively.
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The A320P2F is one of the two variants – the other being the A321P2F - in the Airbus narrow-body P2F programme by ST Engineering, Airbus and their joint venture Elbe Flugzeugwerke. The A320/A321P2F conversion programmes are the first in its size category with easy-to-operate volumetric usability that offers both main deck and lower deck containerised loading. Coupled with the fact that the family of A320/A321 aircraft has modern fly-by-wire technology and advanced performance, the A320/A321P2F are ideal solutions for express domestic and regional operations
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Rolls-Royce and the Luxaviation Group, a leading luxury jet and helicopter service provider, have announced plans to collaborate on leading the development and deployment of Advanced Air Mobility (AAM). Rolls-Royce will provide electrification solutions, maintenance support services and digital solutions for Luxaviation Group’s planned network of vertiports. Luxaviation already has a presence at over 120 VIP terminals across the world. Both companies share a vision of Advanced Air Mobility solutions including all-electric and hybrid-electric vertical take-off and landing as well as fixed-wing commuter aircraft.
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The Memorandum of Understanding between Rolls-Royce Electrical, Rolls-Royce Power Systems and Luxaviation focuses on operations, vertiports and surrounding infrastructure to support these exciting new markets that will transform the way people travel.
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The strategic partnership will look at three main areas: charging and energy infrastructure for vertiports, maintenance provision for electric aircraft and digital solutions for related applications across AAM.
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Jazeera Airways, the Kuwaiti-based carrier, has firmed up an order with Airbus for 28 aircraft, including 20 A320neos and eight A321neos. The order confirms the Memorandum of Understanding announced in November 2021.
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“We are pleased to confirm this latest order with Airbus,” said Rohit Ramachandran, Jazeera Airways Chief Executive Officer. “By taking both A320neo and A321neo versions we will have great flexibility to extend our network to medium and longer haul destinations from Kuwait, offering passengers more choice to travel and enjoy popular destinations as much as underserved ones.”
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China Airlines and its low-cost subsidiary Tigerair Taiwan have signed long-term contracts for Collins’ FlightSense® programme. Under the contracts, Collins will provide engine accessory repair services for China Airlines’ fleet of 25 A321neo aircraft and engine accessory repair and spares support for Tigerair Taiwan’s fleet of 15 A320neo aircraft.
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The fleets are powered by Pratt & Whitney's GTF™ engines, which Collins supplies a number of engine accessories for including electronic controls, starters, pumps, valves, sensors and harnesses.
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“While we’ve had smaller, piece part repair agreements with China Airlines and Tigerair in the past, this contract represents our biggest, most comprehensive MRO agreement with the airlines to date,” said Henry Brooks, president, Power & Controls for Collins Aerospace. “It’s a testament to how our relationship with China Airlines has grown over the years as a result of our commitment to provide round-the-clock quality maintenance and repair to keep their fleets on the move.”
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Bombardier has presented its fourth-quarter and full-year 2021 results and provided 2022 guidance. Bombardier reported increased revenues, a major rise in EBITDA and an increased and more diversified backlog, among other positive indicators. The positive trend is set to continue in 2022.
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In the fourth quarter, the company had six fewer deliveries for a total 38 compared to 44 from the same period last year, mainly due to a more evenly distributed delivery profile on the Global 7500 throughout the rest of the year. Resulting business jet revenues were down US$0.5 billion to US$1.7 billion. Adjusted EBITDA increased meaningfully from US$(1) million to US$232 million, driven by higher margins from business aircraft manufacturing and services, mainly due to accretive margins on the Global 7500, reflecting learning curve improvements and execution of the cost reduction plan. Free cash flow of US$314 million was US$48 million higher from the same period last year.
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Business jet revenues for the full year were up 7% year-over-year at US$6 billion. This was largely due to higher deliveries, a favorable aircraft mix and strong aftermarket performance at US$1.2 billion, up 25% compared to last year.
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The company reported a significant adjusted EBITDA increase, which more than tripled to US$640 million. The increase is a result of a better aircraft mix, combined with the progress on the Global 7500 aircraft learning curve, but also the improvements in the cost structure and higher aftermarket contributions. The 2021 reported EBIT is at US$241 million.
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The 2021 free cash flow generation of US$100 million from continuing operations represents an improvement of US$2 billion year-over-year, thanks to earnings growth and a strong order intake. Net additions to PP&E and intangible assets from continuing operations for the full year were US$232 million. Adjusted liquidity stands strong at US$2.1 billion, and cash and cash equivalents were US$1.7 billion as of December 31, 2021.
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