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Tuesday, July 3rd, 2018
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LATEST NEWS
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Plane manufacturer ATR (Aerei da Trasporto Regionale or Avions de Transport Régional), the equal-partnership joint venture between France’s Airbus and Italy’s Leonardo, based in Toulouse, France has announced its projections for the future demand of its turboprop commercial aircraft.
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At a value in excess of US$80 billion, the projected demand exceeds 3,000 new turboprop planes over the next twenty years, seeing this sector of the market looking very healthy. ATR specializes in turboprop planes with a seat capacity below 90 passengers.
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The plane manufacturer has put growing regional connectivity at the basis for its positive outlook, estimating that over the next 20 years 2,770 new routes will be created and that 30% of regional traffic will come from routes which do not currently exist.
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In the 2018-2037 market forecast, nearly 80% (2,390 aircraft) of the total demand is expected to come from the 61-80 seat category, a market segment served for years by the ATR 72. The remaining 20% (630 aircraft) will come from the 40-60 seat market, a segment where the ATR 42, the only 50-seat aircraft available new on the market, provides strong potential for the up-gage of 30-seat, and the replacement of 50-seat, regional aircraft.
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Beyond passenger aircraft, ATR estimates that the increase of freight traffic will generate a potential for the delivery of 460 turboprop freighters over the next two decades. This includes converted aircraft as well as the recently launched ATR 72-600F, the only regional cargo aircraft available straight from factory.
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According to ATR, turboprops operate half of the flights below 330nm all over the world, the most fuel-efficient solution for short-hauls. ATR aircraft are particularly reputed for their eco-efficiency, featuring a fuel consumption of up to 45% less than regional jets and 30% less than competing turboprops.
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ATR also indicated that turboprops are key in connecting communities around the world with 36% of all commercial airports relying exclusively on turboprops and 50% relying, also exclusively, on regional aircraft.
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Bell Boeing Joint Program Office, Amarillo, Texas, is awarded US$4,191,533,822 for modification P00008 to convert the previously awarded V-22 tiltrotor aircraft advance acquisition contract (N00019-17-C-0015) to a fixed-price-incentive-fee multiyear contract.
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This contract provides for the manufacture and delivery of 39 CMV-22B aircraft for the Navy; 14 MV-22B aircraft for the Marine Corps; one CV-22B for the Air Force; and four MV-22B aircraft for the government of Japan.
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The U.S. Navy will use its new CMV-22B for transporting personnel and cargo from shore to aircraft carriers, eventually replacing the C-2 Greyhound, which has been in service since the mid-1960s.
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Rotable Repairs, one of the UK’s leading providers of wheel and brake MRO services and UK’s first Honeywell authorized Wheel and Brake Service Center, are maximising shop throughput by utilizing Bauer wheel assembly equipment.
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Rotable Repairs Sales & Marketing Director, Bryan Croft says, “The A320 Main Wheel typically took 20 minutes and involved two people in our shop. With the Bauer 8071 Wheel Build-Up and 8731 Torquing System, it now only takes one person approximately 7 minutes to complete the same task.”
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The acquisition of the Bauer equipment supports a requirement for an increase in automated processes within the wheel and brake facility to support an ongoing strategic commitment to improve workshop efficiency and capitalise on recently appointed MRO General Manager, Lionel Fearon’s experience of developing and optimising production lines.
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Cobalt Air is significantly bolstering its brand exposure into the travel trade, making a full range of services and fares available to travel agencies worldwide through a new partnership with Amadeus, a leading global distribution channel.
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Cobalt Air will be able to connect its brand to travellers globally through the world’s largest travel community. Working with Amadeus, which processed 630 million bookings for its airline members in 2017, the airline will be able to access new markets, partners and technology. It will be able to personalise and differentiate its offering, as well as deliver a consistent shopping experience across all channels.
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Centerbridge Partners, L.P. and Reservoir Capital Group, L.L.C. have agreed to acquire a minority stake in Amedeo Capital Limited (Amedeo) as part of their continued investment strategy in the aviation industry.
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Amedeo will acquire the U.S. management subsidiary of Intrepid Aviation Holdings Group (Intrepid) and will make a minority investment in Intrepid as part of a broader strategic partnership where Amedeo will provide management and aircraft support services to Intrepid.
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Intrepid, to be rebranded in due course, will continue to operate in Ireland along with its professional team and has entered into a multi-year aircraft management and services agreement with Amedeo.
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Amedeo is one of the largest widebody aircraft asset managers, with aviation assets under management that now exceed US$8 billion, including two publicly listed vehicles on the London Stock Exchange.
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Intrepid will benefit from Amedeo’s long-standing relationships with OEMs and top tier global airline customers, as well as its scalable platform to support future growth and expansion.
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Doug Winter will become Vice Chairman of Amedeo and Mike Lungariello will become Chief Financial Officer.
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On July 1, 2018, Jaap Beijer has become the General Manager of MTU Maintenance Zhuhai.
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The company is a 50/50 joint venture between MTU Aero Engines, Germany’s leading aero engine manufacturer and China Southern Air Holding Company, China’s largest airline group.
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Beijer joins the MTU subsidiary from his role as Senior Vice President Aftermarket IAE AG, following Frank Bodenhage, who will be taking on a new role within the MTU Maintenance organization as a Senior Vice President in Hannover, supporting the expansion of MTU’s global footprint.
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Lease Corporation International (LCI), the aviation division of the Libra Group, has reported its first helicopter lease in China with the placement of three new Leonardo AW139 aircraft with Shanghai Kingwing Aviation Co. (Kingwing), each configured for Emergency Medical Services (EMS) operations.
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This latest announcement reinforces LCI’s long-held strategy of curating a balanced and diverse portfolio, with a majority of leases in the EMS market.
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The three new AW139 aircraft will be delivered to Kingwing throughout the second half of 2018 and will be deployed on Kingwing’s rapidly expanding EMS network throughout China.
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Helicopter-based EMS operations are experiencing rapid growth in China following recent easing of airspace restrictions, with Kingwing being the country’s largest provider and its third largest helicopter operator overall.
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To meet this increasing demand, LCI has established a new company based in the Tianjin Free Trade Zone DFTP Area to enable it to provide the highest quality service to its Chinese customers and to spearhead the growth of its leasing business in China.
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Delta has embarked on a full-fleet interior renovation of its 777 aircraft, with the first refreshed 777-200ER taking flight this afternoon from Detroit (DTW) to Beijing (PEK) featuring the award-winning Delta One suites, the new Delta Premium Select cabin and the widest Main Cabin seats of Delta's international fleet, among other interior upgrades.
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The aircraft is equipped with Gogo Ku Wi-Fi connectivity and customers will have access to free mobile messaging while on board through iMessage, WhatsApp and Facebook Messenger.
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Delta's first refreshed 777 will operate the Detroit and Beijing route on alternating days for the month of July only, filling in for the A350.
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All eight of Delta's 777-200ER and all 10 777-200LR aircraft will be retrofitted by the end of 2019.
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The International Air Transport Association (IATA) called on governments and other aviation stakeholders in the Caribbean region to work together to maximize the benefits of aviation connectivity. "Aviation is essential to supporting tourism in the Caribbean region, transporting approximately 50% of all tourists who travel here. It also provides a vital lifeline when disaster strikes, as occurred during last autumn's devastating hurricane season," said Peter Cerda, IATA's Regional Vice President, The Americas.
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Speaking at Aviation Day Caribbean, organized by IATA, the Caribbean Development Bank and the Latin American and Caribbean Air Transport Association, Cerda said that aviation supports over 1.6 million jobs and more than US$35.9 billion in GDP, equivalent to 14% of the total Caribbean economy. "Aviation can do much more if governments work with industry to maximize the value aviation delivers. Unfortunately, too many of the region's governments still see air travel primarily as a luxury for the wealthy -- and an easy target for taxation. Making matters worse, these taxes and fees usually are not spent on boosting the efficiency and capacity of the airport and airways infrastructure, but rather to put money into the treasury," Cerda said.
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In one Caribbean state, roughly 70% of the average one-way fare is made up of taxes and charges, according to a recent report commissioned by IATA(1). There are 10 other Caribbean markets for which taxes and charges represent more than 30% of the ticket price, according to the same report.
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Barbados recently joined this taxing trend as the government's short-term budget imposes significant new taxes on air travelers. For a family of four traveling to Barbados from Europe or North America, the new tax will add a total of US$280 to their travel cost. The tax will also affect air travelers within the Caribbean Community nations, adding US$35 to each ticket, a significant increase in short haul markets where traffic is already struggling.
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"While there is no denying the budgetary challenges facing many governments in the region, imposing heavy fees and taxes on aviation and air travel negatively affects levels of tourism and business travel—the very things required for a vibrant economy," said Cerda.
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Excessive taxes are just one challenge. Another is the high cost of operating at a number of the region's airports owing to expensive fees and charges. Additionally, restrictive air service agreements in many countries reduces the number of routes airlines can operate.
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"The Caribbean region is well-positioned to increase the benefits that aviation can deliver. But this can only occur in partnership with governments that recognize that the true value of aviation is in the connectivity it delivers and opportunities it creates, and not in the fees and taxes that can be extracted from it," said Cerda.
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Singapore Technologies Engineering (ST Engineering) has announced the divestment of 25% equity interest in its indirect associates, Airbus Helicopters South East Asia (AHSA) to the joint venture partner, Airbus Helicopters SAS (Airbus Helicopters) of France.
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The consideration for the 25% stake is €9.125 million (approximately S$14 million) which will be paid wholly in cash.
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AHSA was set up between ST Engineering and Airbus Helicopters in 1977 to provide helicopter sales, repair, overhaul, logistics and product support services. The divestment of AHSA is a result of ST Engineering’s ongoing business review to streamline capabilities and optimise resources within its aerospace sector and is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
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With this divestment, AHSA ceases to be an indirectly held associated company/joint venture of ST Engineering.
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