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Thursday, June 7th, 2018
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LATEST NEWS
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After ten years in operation, Singapore Airlines chose not to renew its lease on two Airbus A380-800s in 2017. Owners of the two ‘superjumbos’, the Dr. Peters Group, a Dortmund, Germany-based traditional financial and management holding company, have subsequently failed to attract buyers for the jets, having made approaches to several airlines, including, British Airways, HiFly and IranAir.
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As a consequence, the Group has chosen to strip the aircraft and sell the components, a result that will be unsettling for buyers of new A380 aircraft, though ultimately good for investors in DS funds No. 129 and No. 130, which will see anticipated returns of between 145 and 155%.
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Based on preliminary calculations by VAS Aero Services, the sale of the components alone should generate approximately US$45 million. This relatively high assessment is based on the fact that many of the airlines which currently operate the A380 will generate strong demand for components through upcoming maintenance intervals.
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Existing engine leasing agreement with Rolls Royce, or with an airline, will continue beyond March 2019, though it is anticipated the engines will be sold by the end of 2020. Major components such as the landing gear and auxiliary engine are likely to be sold very quickly.
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According to Anselm Gehling, CEO Dr. Peters Group: "The market for the A380-800 aircraft type has not developed positively in recent years. Some airlines have cancelled orders from Airbus, while others have opted for smaller long-haul jets. Finally, the ongoing negative discussion about the A380-800 has not led airlines to increasingly rely on this type of aircraft. In light of this development, the concept that has now been finalized is an excellent achievement with a total revenue forecast of around US$80 million per aircraft."
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While the stripping of these two aircraft may be seen as a psychological blow for Airbus, it is worth noting that early models of a new plane generally tend to be less efficient, which can have a detrimental effect on their resale potential. Clearly Singapore Airlines believes in the A380 as the flag-carrying airline took delivery of the first of five new 380s in December last year; it is also having 14 of the A380s already in service retrofitted with new cabin products, beginning at the end of this year.
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The International Air Transport Association (IATA) 74th Annual General Meeting (AGM) urged governments to take a cautious approach when considering airport privatization.
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In a unanimously passed resolution, IATA members called on governments to prioritize the long-term economic and social benefits delivered by an effective airport ahead of the short-term financial gains provided by a poorly thought-out privatization.
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"We are in an infrastructure crisis. Cash-strapped governments are looking to the private sector to help develop much needed airport capacity. But it is wrong to assume that the private sector has all the answers. Airlines have not yet experienced an airport privatization that has fully lived up to its promised benefits over the long term. Airports are critical infrastructure. It is important that governments take a long-term view focusing on solutions that will deliver the best economic and social benefits. Selling airport assets for a short-term cash injection to the treasury is a mistake," said Alexandre de Juniac, IATA's Director General and CEO.
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Currently about 14% of airports globally have some level of privatization. As they tend to be large hubs, they handle about 40% of global traffic.
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"IATA research shows that private sector airports are more expensive. But we could not see any gains in efficiency or levels of investment. This runs counter to the experience of airline privatization where enhanced competition resulted in lower pricing to consumers. So we don't accept that airport privatization must lead to higher costs. Airports have significant market power. Effective regulation is critical to avoiding its abuse—particularly when run for profit by private sector interests," said de Juniac who also noted that five of the top six passenger ranked airports by Skytrax are in public hands.
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Ryanair has signed its first cabin crew union recognition agreement with ANPAC and ANPAV, who will be the representative body for Ryanair directly employed cabin crew in Italy.
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This agreement follows extensive negotiations with ANPAC and ANPAV since Ryanair’s December 2017 announcement that it was willing to recognise Unions for collective bargaining purposes.
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This first cabin crew recognition agreement in Italy currently accounts for over 80 of Ryanair’s 400+ aircraft fleet and approx. 20% of Ryanair’s cabin crew.
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Elix Aviation Capital has confirmed that it has delivered Bombardier Q400, MSN 4110, on lease to Jambojet of Kenya.
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This is the second Q400 delivery by Elix to Jambojet in 2018 following the delivery of Q400 MSN 4554 in March.
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This delivery further demonstrates Elix’s commitment to develop and invest into the capabilities and services it brings to its African customers.
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Finnair's overall capacity increased in May by 21.5% year-on-year and traffic increased by 18.8%. The load factor decreased year-on-year by 1.8 points to 79.5%.
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StandardAero has signed two, new, five-year contracts with Mesa Airlines, to provide maintenance, repair and overhaul (MRO) services for the airline’s APS2300 and RE220 auxiliary power units (APUs).
With these new contracts, StandardAero now supports 100% of Mesa Airlines’ APUs.
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Under the first contract, StandardAero will provide MRO services for the APS2300 APUs equipping a further 18 Embraer E175 regional aircraft operated by Mesa for United Airlines. This new contract follows on from a previous 12-year APU support agreement covering 30 Mesa E175s signed in 2015.
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The second contract covers support of the RE220 APUs which equip Mesa’s fleet of 84 Bombardier CRJ700/CRJ900 regional aircraft, operated for American Airlines and United Airlines.
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StandardAero, an OEM-approved Authorized Repair Facility for both the APS2300 and RE220, will provide Mesa with customized MRO programs offering maximum support and flexibility to meet the airline’s specific operational needs. Mesa’s APUs will be serviced at StandardAero’s Maryville, Tennessee facility.
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The first BelugaXL has passed the Ground Vibration Test (GVT), a requirement for certification of the aircraft that paves the way towards its maiden flight in summer 2018.
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The objective of this test is to measure the dynamic behaviour of the aircraft and confirm theoretical models of various flight conditions, such as manoeuvring, flying in gusty conditions and landing. The test data also helps clear the aircraft’s flight envelope.
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The GVT of the BelugaXL was performed by ONERA in collaboration with DLR over eight testing days using several hundreds of external accelerometers while the aircraft was stimulated by external shakers or seismic exciters.
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The BelugaXL was launched in November 2014 to address the transport and ramp-up capacity requirements for Airbus beyond 2019. The new oversize air transporters are based on the A330-200 Freighter, with a large re-use of existing components and equipment. The first of five BelugaXLs will fly in summer 2018 and enter into service in 2019.
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Leonardo has reached a new, important and historic milestone with the delivery of the 1,500th fuselage to the ATR consortium.
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The handover ceremony took place on June 6, at the Leonardo’s facility in Pomigliano D’Arco (Naples) with representatives from Leonardo and ATR.
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The 1,500th ATR’s fuselage will shortly leave Leonardo’s Pomigliano D’Arco production line, where it has been built to be shipped to Toulouse, headquarters of the Italian-French ATR consortium. The aircraft will be assembled in France and delivered to the final customer, Japan Air Commuter.
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Air China and Air Canada have signed the first joint venture agreement between a Chinese and North American airline, deepening the two carriers' longstanding partnership.
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The joint venture enables the two countries' flag carriers and Star Alliance members to expand their existing codeshare relationship and deepen it by increasing commercial cooperation on flights between Canada and China and on key connecting domestic flights in both countries to provide customers travelling between the two countries with greater and sustainable benefits including an unparalleled range of flights, products and services.
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In the last two years, Air China has launched flights directly linking Beijing with Montreal, and Air Canada has launched new non-stop flights between Montreal and Shanghai to meet growth in demand. The two carriers now operate up to a total of 52 trans-Pacific flights per week between Canada and China from Toronto, Vancouver and Montreal to and from Beijing and Shanghai.
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