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Embraer SA, the Brazilian plane maker, has reported an unexpected fourth-quarter loss due to a write down in its underperfoming executive jets division. The results have subsequently cast even greater concern over the company’s decision to sell off 80% of its profit-making commercial jet unit to Boeing.
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The US$18.1 million fourth-quarter loss was primarily due to the US$61.3-million write down for spending on research and development for the ‘Legacy’ line of jets which have underperformed where anticipated sales are concerned. The originally anticipated return was US$8.4 million based on a Refinitiv poll of six analysts.
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With the defense arm of Embraer posting an operational loss of US$183 million in 2018 and the executive jets division a loss of US$57.5 million, shares fell 2 percent on the Bovesta stock index and a total of 15 percent over the year, the majority of this loss coming after January’s warning that the company had missed its revenue estimates for 2018.
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With 50 percent of Embraer’s revenue coming from commercial jet sales, up from 38 percent in 2017, the sale of 50% of the commercial jets division for US$4.2 billion will now shed uncertainty over the future of the company, a fear backed up by a considerable degree of resistance concerning the sale. Embraer lost US$178 million in all of 2018, compared to a profit of $264 million in 2017.
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Embraer had told investors in January that it had missed its revenue estimates for 2018 and the company would see little to no profits in 2019 and 2020.
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JetBlue Airways has reported its preliminary traffic results for February 2019. Traffic in February increased 6.0% from February 2018, on a capacity increase of 7.5%.
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Load factor for February 2019 was 81.5%, a decrease of 1.1 points from February 2018. JetBlue’s preliminary completion factor for February 2019 was 98.5% and its on-time performance was 70.0%.
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Etihad Airways Engineering has added Airbus A350 maintenance capabilities to its extensive inhouse portfolio.
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Etihad Airways Engineering is part of the Airbus MRO Alliance and has emerged as a centre of excellence for the Airbus A380, having supported the A380 fleets of Etihad Airways and third-party customers in the Middle East, Asia, Europe and Australia. The company continues to extend its coverage of major commercial aircraft types and has now received the landmark approval for Airbus A350 maintenance, awarded by the UAE General Civil Aviation Authority (GCAA).
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The first A350 aircraft to arrive for maintenance in Abu Dhabi comes from the company’s long-term client, LATAM Airlines group. The aircraft will undergo a heavy maintenance check and modifications as part of its routine maintenance program. The C-check will be followed by full stripping and painting of the aircraft in LATAM’s livery. The airline group is due to send additional A350 aircraft for scheduled maintenance in Abu Dhabi during the year.
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DRAKKAR, a specialized company in operational outsourcing within leading-edge sectors including Aerospace and Avianor have finalized a partnership agreement which will enable Avianor to accelerate its growth strategy.
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With the help of Ernst & Young Orenda Corporate Finance, Avianor strongly believes the strategic and Canadian-based company DRAKKAR is the best partner to secure the future of Avianor. Following this transaction, effective as of February 28, 2019, the Avianor board of directors now consists of Earl Diamond, CEO of Avianor, Sylvain Savard, President and Founder of Avianor, along with two new members from DRAKKAR, Denis Deschamps, President and CEO of Drakkar & Partners, and Benoit Hudon, President and CEO of their Manufacturing business unit.
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Rolls-Royce has taken a significant step towards realising its ambition to provide hybrid-electric propulsion systems for the next generation of aviation. The company announced that it successful ground tested a hybrid system using its M250 gas turbine, a highly successful engine usually powering helicopters.
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The tests are part of one of the most comprehensive hybrid aerospace turbine engine development and integration programmes and pave the way for experimental flights on aircraft in 2021.
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Rolls-Royce said that it successfully tested the hybrid version of the M250 gas turbine in a ground demonstration setting in three operating modes: Series Hybrid, Parallel Hybrid and Turbo-Electric. The M250 hybrid is planned to be used as a propulsion plant with power ranging from 500kW to 1MW and has the potential to transform aviation power. The system will be used across a range of transport platforms to enable distributed electric propulsion, including EVTOLs (hybrid electric vertical take-off and landing vehicles), general aviation aircraft and hybrid helicopters.
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Complete engine testing took place at its state-of-the-art facility in Indianapolis, US, where each component and sub-system of the hybrid engine was individually tested for electrical performance. These tests included simulating use across take-off, cruise, landing and taxiing and confirmed the system’s suitability for a range of transport platforms including aircraft with a range of up to 1000 miles and weighing up to 2000kg. This would support the Rolls-Royce EVTOL concept which was unveiled during the Farnborough Air Show in the UK last year as well as meeting many other customers’ requirements.
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Bombardier has confirmed the conclusion of the sale of its flight and technical training activities to CAE, for an enterprise value of CA$645 million. Net proceeds are expected to be approximately CA$500 million after the assumption of certain liabilities, fees, and closing adjustments.
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Bombardier and CAE also agreed to continue their Authorized Training Provider (ATP) relationship pursuant to which CAE carries out the training activities for Bombardier Business Aircraft, including from the training centres located in Montréal and Dallas.
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Newbow Aerospace, a design, manufacturer and supplier of Ground Support Equipment to the aviation industry, has announced a significant expansion of their manufacturing and production facility to meet customer demand.
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The new facility, which neighbours their headquarters in central UK, will see the company’s production capacity double in size, increase its workforce by 30% and introduce significant new product development for their leading-edge manufacturing, fabrication and assembly of their ground support equipment.
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Work has already commenced on Newbow’s extended facility and is due to be complete by Spring 2019. The new facility will accommodate a new, larger oxygen clean assembly room, conforming
to applicable standards and allowing increased assembly, testing and throughput of gaseous charging systems and components. In addition, a new, larger calibration laboratory will be introduced meeting the latest standards for the calibration, re-calibration and testing of ground support measurement equipment.
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Eagle Services Asia, Pratt & Whitney's engine center in Singapore, marks its first PW1100G-JM GTF™ engine overhaul. It also achieved FAA certification in March 2019, adding to approvals received from EASA and CAAS in late 2018.
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This milestone shows that the facility is progressing on track with ramping up for GTF overhauls. In January 2019, Pratt & Whitney announced the successful induction of the first GTF engine at Eagle Services Asia. To accommodate the GTF MRO capability in its existing capacity, the facility retrofitted and re-designed its shop floor, as well as upgraded its test cell infrastructure and software. Over 2019, it will transition to a ground-based flow-line.
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Now equipped with MRO capability for the GTF engine, Pratt & Whitney’s Singapore engine center today is able to accommodate six (6) engine types, namely PW4000-94, PW4000-100, PW4000-112, GE90, GP7200 and PW1100G-JM.
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The facility is a member in the global network of MRO facilities that service Pratt & Whitney's GTF engines.
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AviaAM Leasing has delivered two Airbus A321-211 aircraft to Canada‘s holiday travel airline company – Air Transat.
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Within a few months, AviaAM Leasing team has fully administered the necessary aircraft checks according to the new operator’s requirements. The aircraft MSN 4103 and MSN 4500 were finally delivered to the customer at FL Technics facilities in Kaunas under a 74 months operating lease agreement.
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AviaAM Leasing’s and Canadian low-cost leisure airline Air Transat’s cooperation started in 2018. The leasing company delivered two Airbus A321-211 to the air carrier ahead of schedule.
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Air Partner, the global aviation services group, has appointed Lee Rennie to the newly created role of Partner Relationship Manager in its UK Charter team. Lee will be based at Air Partner’s headquarters in Gatwick and will report directly to Managing Director Tony Whitty.
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Rennie brings with him a wealth of industry experience, most recently serving as the Head of Charter at UK airline flybmi. He has also worked within charter sales for a number of airlines, including Britannia Airways, Monarch Airlines and Excel Airways.
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Lee will be responsible for growing the amount of mutually beneficial business that Air Partner conducts with airlines and partners across the UK and Europe.
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