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Wednesday, August 8th, 2018
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LATEST NEWS
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Boeing has announced its investment in Digital Alloys, a Burlington, Mass.-based company developing high-speed, multi-metal additive manufacturing systems that produce 3D-printed parts for aerospace and other production applications.
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Digital Alloys' Joule Printing™ technology can rapidly combine multiple metals into each part, which enhances thermal, electrical, magnetic and mechanical properties. The process allows metals like titanium and high-temperature alloys to be 3D-printed for parts that could be used on Boeing products.
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"Our investment in Digital Alloys will help Boeing produce metal structural aerospace parts faster and at higher volume than ever before," said Brian Schettler, managing director of Boeing HorizonX Ventures. "By investing in companies with emerging additive manufacturing technologies, we aim to strengthen Boeing's expertise and help accelerate the design and manufacture of 3D-printed parts to transform production systems and products."
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Formed in January 2017, Digital Alloys developed a patented 3D-printing approach that avoids the cost and complexity of powder-based systems, and delivers higher resolution than other wire-based 3D-printing techniques.
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Additive manufacturing generates value for Boeing by reducing the cost and time needed to design, build and deliver products to customers. Today, Boeing has more than 60,000 3D-printed parts flying on space, commercial and defense products. This investment is the latest example of the company's commitment to additive manufacturing innovation.
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Boeing HorizonX Ventures participated in Digital Alloys' Series B funding round led by G20 Ventures, with participation by Lincoln Electric and Khosla Ventures. The Boeing HorizonX Ventures investment portfolio is made up of companies specializing in autonomous systems, energy and data storage, advanced materials, augmented reality systems and software, machine learning, hybrid-electric and hypersonic propulsion, and Internet of Things connectivity.
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Norwegian reported a new passenger record in July as it carried almost 3.8 million passengers in a single month. The total number of passengers increased by 13% compared to the same month previous year. The total traffic growth increased by 33% this month, driven by a 35% capacity growth. The load factor was a solid 93% network wide.
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A week after one security breach saw passengers cleared from Frankfurt Airport, Germany’s busiest airport, last week a further security breach this Tuesday saw German federal police stop boarding in Terminal 1 and the evacuation of part of the security area.
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The police confirmed that the actions taken were as a result of "at least one unauthorized person in the security zone." According to a police spokeswoman, cited by Germany's DPA news agency, a family from France was being questioned after at least one of four family members entered the secure area without having completed security checks.
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Three hours after the security alert, the all clear was given, but not before 49 of the day’s scheduled 1,500 flights had been canceled. As a consequence, passengers can expect there to be a knock-on effect with continued disruption throughout Tuesday and into Wednesday.
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Oman Air, the National carrier of the Sultanate of Oman, is continuing its expansion across Europe by extending its codeshare agreement with Lufthansa.
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Under the expanded code share agreement, passengers can now travel on Oman Air flights from Muscat International Airport and connect to Madrid, Brussels, Vienna and Prague from Lufthansa’s Frankfurt and Munich hubs.
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The agreement offers travellers even better connectivity and an extended range of services between Muscat and Europe. Guests of both airlines will benefit from the greater convenience and the agreement is the latest step in developing closer links between Oman Air and Lufthansa, both of which share a commitment to deliver excellence in customer service.
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Lufthansa will continue to codeshare with Oman Air on Oman Air-operated services from both Frankfurt and Munich to Muscat vice versa, allowing their guests to experience the hospitality and service of Oman Air. Oman Air guests will be spoilt for choice as they will be able to fly onwards to Brussels Airport (BRU), Vienna International Airport (VIE), Vaclav Havel Airport Prague (PRG) and Madrid-Barajas Airport (MAD) in Europe. Both Oman Air and Lufthansa offer outstanding choice for customers and the new codeshare between the two airlines will maximise the travel opportunities offered to passengers through their extensive networks.
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Air Lease Corporation has initiated the sale of a portfolio of 18 aircraft to Thunderbolt II Aircraft Lease Limited (Thunderbolt II), a newly formed entity. The aircraft comprise a mix of narrowbody and widebody jet aircraft that, as of April 30, 2018, had an average age of 8.0 years and were leased to 16 lessees based in 15 countries. Air Lease Corporation and its Irish affiliate, ALC Aircraft Limited, will act as servicers and portfolio manager with respect to the aircraft. ALC estimates that the process of transfer and sale of the majority of aircraft will occur progressively during Q3 and Q4 2018.
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The Thunderbolt II structure included two series of Fixed Rate Notes and equity in the form of Aircraft Portfolio Shares (APS), comprised of 90% Global Aircraft Portfolio Shares (GAPS) and 10% Certificated Aircraft Portfolio Shares (CAPS). The CAPS were purchased by an investment vehicle controlled by ITE Management L.P., and ALC retained 5% of the equity as planned.
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Proceeds from the issuance of the Notes and the APS will be used to acquire the aircraft, fund certain accounts for the Notes and pay certain expenses.
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- Air Transport Services Group, a provider of medium wide-body aircraft leasing, air cargo transportation and related services, has reported consolidated financial results for the quarter ended June 30, 2018:
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GAAP revenues were US$203.6 million based on new revenue recognition standards adopted in 2018. 2Q 2018 revenues increased six percent after excluding US$61.1 million in reimbursed expenses from 2Q 2017 revenues.
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GAAP Earnings from Continuing Operations were US$24.5 million, vs. a loss of US$53.9 million in 2Q 2017. Provision for income tax was US$5.4 million for 2Q18. Due to deferred tax assets, including loss carryforwards, ATSG does not expect to pay significant federal income taxes until 2023 or later.
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Adjusted Earnings (non-GAAP) from Continuing Operations were US$19.2 million, up 38% from US$13.9 million in 2Q 2017. Adjusted Earnings from Continuing Operations exclude the net effects of warrants issued to Amazon.com Services, including a US$63.4 million loss from mark-to-market warrant revaluation in 2Q 2017, and a share of development costs for ATSG's Airbus A321 freighter conversion venture.
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Adjusted EBITDA (non-GAAP) from Continuing Operations was US$69.7 million, up 9%. Adjusted Earnings and Adjusted EBITDA from continuing operations are non-GAAP measures. (See Revenue Recognition, Non-GAAP Financial Measures, also reconciliation tables at the end of this release).
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First-half 2018 capital spending was US$150.8 million vs. US$144.3 million in 1H 2017. Capital expenditures in 2018 included US$116.6 million for the acquisition of Boeing aircraft and freighter modification costs, up from US$96.7 million in the first half of 2017.
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In July, Finnair carried 1,287,800 passengers, 15.2% more than in the corresponding period of 2017. The number of passengers grew in Asian traffic 9.0%, European traffic 15.1%, North America traffic 17.5% and domestic traffic 29.2%.
Finnair's overall capacity increased in July by 14.1% year-on-year, while Finnair's traffic grew by 11.8%. The load factor decreased year-on-year by 1.9 points to 88.4%.
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Russian independent maintenance, repair and overhaul (MRO) services provider S7 Technics Holding, has launched a new line station at Moscow’s Sheremetyevo airport, which currently serves more than 300,000 aircraft movements a year.
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The new station is managed by S7 Technics’ subsidiary S 7 ENGINEERING and is the first located outside of its two main bases at Moscow’s Domodedovo airport and at Mineralnye Vody. The latest station is fully approved for the provision of line maintenance, non-destructive testing (NDT) and structural repairs on the Airbus A320 family of aircraft, as well as for Boeing 737NGs and Russian-built Sukhoi Superjet 100 regional jets.
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Several Russian charter carriers, which base their aircraft at Sheremetyevo, have become the new line station’s first customers.
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Three line maintenance stations within S7 Technics Holding are run by its other subsidiary, Novosibirsk’s Tolmachevo-based Sibir Technics. They are located at the large airports of Siberia and the Far East region, at Irkutsk, Yakutsk and Vladivostok. Sheremetyevo is the fourth MRO location for the specialist company, and the first in the European region of Russia.
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S7 Technics Holding’s facilities are certified by EASA, Bermuda DCA, the Russian Aviation Authority, and a number of other national authorities to carry out maintenance for different types of Boeing, Airbus, Embraer and Sukhoi Civil Aircraft airliners.
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West Star Aviation has named John Mansfield as Manager of Satellite Operations and Mobile Repair.
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Mansfield began his career over 30 years ago as a Technical Representative at Hawker Beechcraft. He quickly advanced into more progressive roles including Manager, General Manager, and most recently, Vice President MRO Centers Worldwide at Embraer Executive Jets.
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He will be responsible for overseeing satellite operations and the mobile response team. John has 15 years of proven experience in leadership, relationships with OEMs, as well as customer satisfaction and product support.
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