|
|
|
|
|
|
|
|
|
|
LATEST NEWS
|
|
Friday, May 6th, 2022
|
|
|
|
|
|
|
Despite a slow start to the year due to the Omicron variant of the COVID-19 pandemic, Lufthansa saw a noticeable increase in customer demand, particularly in March, for both holiday travel and also the business travel segment. Compared to the previous year, the Group more than doubled revenue to €5.4 billion (1Q 2021: €2.6 billion).
|
Adjusted EBIT amounted to €-591 million, and a further noticeable improvement compared to the prior-year quarter, despite the effects of the pandemic (1Q2021: €-1.0 billion). The Adjusted EBIT margin increased to -11.0% (previous year: -40.9 percent). Net income of €-584 million was also an improvement compared to the previous year (1Q 2021: €-1.0 billion).
|
Group airlines more than quadrupled passenger numbers in the first quarter compared to the same period in 2021. Between January and March, Lufthansa Group airlines catered for 13 million passengers (1Q 2021: 3 million). As a result of the strong increase in demand for air travel during the first quarter, the available capacity was also significantly increased towards the end of the quarter. Between January and March 2022, passenger airline capacity averaged 57% of the pre-crisis level (171% up on the previous year).
|
The Adjusted EBIT of the passenger airlines amounted to €-1.1 billion euros (1Q 2021: -€1.4 billion). The result was burdened by low seat load factors especially at the beginning of the quarter, rising fuel costs and the non-recurrence of short-time work subsidies in the prior year. However, yields were close to pre-crisis levels, while on long-haul, yields exceeded the 2019 level.
|
For the full year 2022, the Lufthansa Group is planning an annual average passenger airline capacity of around 75%. In the summer, around 95% of the pre-crisis capacity will be offered on European short-haul routes and around 85% on the Transatlantic.
|
|
|
|
|
|
|
|
Atlas Air Worldwide Holdings has reported first-quarter 2022 net income of US$81.5 million, compared to US$89.9 million in 2021 (which included US$40.9 million, US$31.9 million after tax, of CARES Act grant income).
|
On an adjusted basis, EBITDA totaled US$202.8 million in the first quarter of 2022 compared to US$181.3 million in the prior-year period. For the three months ended March 31, 2022, adjusted net income totaled US$88.8 million, compared to US$72.2 million in 2021.
|
Revenue grew to US$1.0 billion in the first quarter of 2022 compared to US$861.3 million in the prior-year quarter. Volumes in the first quarter of 2022 totalled 82,626 block hours compared with 88,523 in the first quarter of 2021.
|
|
|
|
|
|
Avion Systems of Ft. Lauderdale, FL., has acquired Grecco Aerospace of Miami, FL. (Grecco) and formed Avion Repair Services Inc. (ARS).
|
Grecco Aerospace, an FAA/EASA accredited aviation repair facility has capabilities to overhaul and repair commercial components specifically pneumatic, hydraulic and fuel related for Boeing and Airbus platforms. The management team lead by Kirenia Bustillo and Yoan Perez will continue to run the day-to-day operations under the new brand.
|
“We are excited to partner with the Grecco team to grow and support both our companies existing customer base,” said Ron Sever, President and CEO of Avion Systems. “Our immediate goal is to synchronise our years of experience and vast resources with the Grecco's management to assist with marketing, business development and operational support. Leveraging on the synergy between the companies, Grecco's introduction to our group will complement our product line and create a true vertical integration".
|
|
|
|
|
|
|
|
Boeing has announced that its Arlington, Virginia campus just outside Washington, D.C. will serve as the company's global headquarters. The aerospace and defence firm's employees in the region support various corporate functions and specialize in advanced airplane development and autonomous systems. In addition to designating Northern Virginia as its new headquarters, Boeing plans to develop a research & technology hub in the area to harness and attract engineering and technical capabilities.
|
"We are excited to build on our foundation here in Northern Virginia. The region makes strategic sense for our global headquarters given its proximity to our customers and stakeholders and its access to world-class engineering and technical talent," said Boeing President and Chief Executive Officer Dave Calhoun.
|
Boeing will maintain a significant presence at its Chicago location and surrounding region.
|
Over the past two years, Boeing has implemented flexible and virtual solutions that have enabled the company to reduce its office space needs. At its Chicago office, less office space will be required for the employees who will continue to be based there. Boeing will adapt and modernise the workspace to better support future work requirements.
|
|
|
|
|
|
Italian line maintenance specialist EU Wings and sister company AliPlan, a provider of CAMO and engineering services, have both signed up to use Rusada’s ENVISION software for their airworthiness and maintenance.
|
EU Wings, based in Verona, provides line maintenance services to customers across Europe, Africa, and Asia, assisting with scheduled maintenance, component replacement, minor repair, and aircraft disinfection. AliPlan, also based in Verona, offers a wide range of services to aircraft operators including CAMO support, engine shop support, engine data monitoring, and aircraft phase in/out support.
|
Between them they will use five of ENVISION’s modules to manage their operations, including Fleet Management, Line Maintenance and Inventory Management. Rusada’s European team will now begin work on the implementation project with a view to go live later this year.
|
|
|
|
|
|
|
|
Dubai Aerospace Enterprise (DAE) has announced the following two promotions with an effective date in the third quarter of 2022: Sinan Kahya has been promoted to the role of Chief Financial Officer, reporting to the Chief Executive Officer and Melissa Closa has been promoted to the newly created role of Chief Accounting Officer, reporting to the Chief Financial Officer.
|
Kahya joined DAE in 2014 and has previously been responsible for Corporate Development, Financial Planning and Analysis, Fixed Income Investor Relations and interfacing with credit rating agencies. Kahya has a bachelor’s and master’s degree in Mathematics, a master’s degree in Corporate Finance and Banking and is a CFA charterholder.
|
Closa joined DAE in 2008 and has been previously responsible for almost all groups within the accounting function. She has a Bachelor of Science in Accountancy and is a Certified Public Accountant (CPA).
|
|
|
|
|
|
With its strong portfolio of world-leading jets and an expanding service network, Bombardier is uniquely positioned to capitalize on the demand for both new jets and services. This strength supported consolidated cash generation of US$173 million for the first quarter of 2022, which represents a US$578 million improvement compared to the same quarter last year.
|
Bombardier’s revenues from business jet sales and aftermarket services totaled US$1.2 billion during the first quarter of 2022 as business jet utilisation and flight hours continued to rise around the world. The company delivered a total of 21 aircraft in the first quarter of 2022. Bombardier also reported record aftermarket revenues, a ~34% improvement over the same quarter last year. The strong demand was reflected also in the 2.5 unit book-to-bill ratio and a growing backlog that rose by US$1.3 billion to US$13.5 billion since the beginning of 2022.
|
In terms of profit, the company expanded its year-over-year adjusted EBITDA margin by 420 basis points to reach 13.4%. Adjusted EBITDA was at US$167 million, a 36% improvement over the same quarter last year, thanks mainly to higher aftermarket revenues, incremental Global 7500 contribution and cost structure improvements. The EBIT from continuing operations was US$85 million.
|
|
The company concluded the first quarter of 2022 with a landmark achievement for the industry flagship Global 7500. On March 30, 2022 it delivered the 100th Global 7500 to long-time client VistaJet. This is the 10th Global 7500 for VistaJet, which plans to welcome up to a total of 17 into its fleet by the end of 2022.
|
|
|
|
|
|
|
|
click here to download the latest PDF edition
|
|
|
|
click here to download the latest PDF edition
|
click here to subscribe to our other free publications
|
|
AIRCRAFT & ENGINE MARKETPLACE
|
click here to view in PDF aircraft and engines available for sale and lease
|
|
|
|
|
|
|
|
|
|
Interested in advertising with AviTrader?
|
|
Vice President Sales & Business Development
|
|
|
|
|
