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LATEST NEWS
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Monday, May 13th, 2019
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At the end of the week where Dubai-based Emirates posted a 69 percent drop in its full-year profit, the carrier’s Executive Vice President and Chief Commercial Officer, Thierry Antinori, has
resigned with immediate effect. Adnan Kazim, Divisional Senior Vice President, Strategic Planning, Revenue Optimisation and Aeropolitical Affairs has been appointed as the acting CCO in his place.
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Emirates has blamed the major reason for the poor result on higher oil prices and strong currency volatility. The airline made a net profit of ARD871m (US$237m) in the year to March 31,
compared with AED2.8bn (US$763m) in the previous year. Revenues during the 2018-2019 fiscal year increased by 6 per cent to AED97.9bn (US$26.7bn). Total operating costs increased by 8 per cent over the 2017-18 financial year, with the average price of jet fuel climbing by a further 22 per cent during the period after last year’s 15 per cent increase. With the airline boosting capacity by 3 per cent, its fuel bill increased “substantially by 25 per cent” over last year to AED30.8bn US$8.4bn). “This is the biggest-ever fuel bill for the airline, accounting for 32 per cent of operating costs,” the carrier confirmed.
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Antinori joined Emirates in October 2011 as executive vice president for Passenger Sales Worldwide. In June 2013, he was promoted to the role of the CCO, where he was responsible for commercial operations and products, Emirates Skywards and Emirates Skycargo. Antinori oversaw a partnership alignment last year that saw Emirates Skywards become the loyalty program for both Emirates and Flydubai. He had previously worked with Lufthansa and Air France.
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Barfield, a subsidiary of Air France Industries KLM Engineering & Maintenance (AFI KLM E&M), has signed an agreement to continue providing repair service and warranty support for the full range of ECA Group Emergency Locator Transmitters in the USA, Canada, and Mexico.
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Barfield has provided these services for ECA Group airline and military customers since 2003 when the range of ADT406 Emergency Locator Transmitters (ELT) was introduced to the market. To complement its product support activities, Barfield is also the authorized distributor of ECA Group ELT products in the same regions.
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Hawaiian Airlines has renewed its 5-year contract with SmartKargo, continuing the cloud-delivered real-time management of the carrier’s air cargo business using the advanced end-to-end Software as a Service (SaaS) solution. Hawaiian was the first U.S. carrier to adopt the SmartKargo Cloud platform in 2014, with the implementation Go Live in the second quarter of 2015.
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Since then, the airline has utilized the innovative set of integrated tools that the SmartKargo SaaS solution offers to support and grow its domestic and international Cargo business, including the addition of freighter-configured ATR-72 aircraft to support a new All Cargo Overnight service within the Hawaiian Islands. The airline in 2017 also unveiled its multimillion-dollar Charles I. Elliott Maintenance and Cargo Facility, the Honolulu hub of its cargo business.
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International Consolidated Airlines Group (IAG) has presented Group consolidated results for the three months to March 31, 2019. The Group reported first quarter operating profit of €135 million before exceptional items (2018 pro forma €340 million). Passenger unit revenue for the quarter was 0.8%, down 1.4% at constant currency. Fuel unit costs for the quarter was up 15.8%, up 11.1% at constant currency.
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Net foreign exchange operating profit impact for the quarter adverse was €61 million while cash of €7,481 million at March 31, 2019 was up €1,207 million on December 31, 2018 and net debt to EBITDA improved by 0.2 to 1.0 times. Profit after tax before exceptional items was €70 million down 62.6% and adjusted earnings per share down 57.5% on a pro forma basis
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Mitsubishi Aircraft Corporation has announced the opening of a new U.S. headquarters in Renton, Washington. The office employs members of a global team, primarily focused on finalizing the development of the company’s regional jet program, including engineering, sales, marketing and customer support. It will also play a key role in future product development.
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As a Japanese company serving a global market, a new office in the aerospace hub of Washington State, USA marks the most recent development in the global expansion of Mitsubishi Aircraft Corporation. “Demand in the North American regional segment is expected to grow beyond the more than 1,800 aircraft currently in service,” said Alex Bellamy, Chief Development Officer, Mitsubishi Aircraft Corporation while speaking at the headquarters opening event. “We view the North American market as a driver of our growth, and it is strategically important for us to be close to our customers and support that market demand. Today’s announcement reiterates our commitment to and optimism about this market moving forward.”
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The team is currently conducting certification flight tests from its Flight Test Center at Grant County International Airport in Moses Lake, Washington State. In addition to housing the company’s operations in Moses Lake, Washington is home to several of the company’s key partners.
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Vortex Aviation announced its expansion into Dublin Ireland on Monday, May 13, 2019. The new location will provide engine hospital shop visit maintenance activities to support its global customer base. Initial focus will be on CFM56-5B/7B engine models with other engine models added in the near future.
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Dublin was selected as a prime location, as it is known to be the heart of the aviation community.
This will help lessors, owners, and operators reduce heavy maintenance costs and expand on the existing facilities in Fort Lauderdale, Shannon, and Singapore.
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Vortex has operated as a Maintenance, Repair and Operations (MRO) shop under Kellstrom Aerospace Group since 2017. Their services have contributed to the continuously expanding
portfolio of Kellstrom. Over the last couple years, the companies have aligned forces to expand into new regions, Dublin being the first impression of their expansion blueprint.
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“As we grow, we will continue to make our mark on a global level – it’s an inspiring time for both Vortex and Kellstrom,” commented Jeff Lund, CEO, Kellstrom Aerospace.
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SIAEC Group has posted full year 2018-19 results. Revenue was S$1,020.9 million, a decrease of S$74.0 million or 6.8%, mainly due to a decline in airframe and fleet management revenue. Expenditure at S$964.1 million was lower by S$52.0 million or 5.1%, largely due to a reduction in material and subcontract costs in line with the lower workload. Operating profit at S$56.8 million was S$22.0 million or 27.9% lower year-on-year. Share of profits of associated and joint venture companies increased by S$4.1 million or 3.7% to S$113.9 million.
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Notwithstanding a one-time tax charge and an upward revision in tax provision by certain engine and component centres in FY2018-19, contributions from the engine and component segment increased S$5.5 million, to S$115.4 million. This was partially offset by a S$1.4 million decrease in contributions from the airframe and line maintenance segment. Profit attributable to owners of the parent was S$160.9 million for the financial year ended 31 March 2019, a decrease of S$25.9 million or 13.9%. Profit last year included a S$15.0 million gain on the sale of the Group’s shares in an associated company, Asian Compressor Technology Services Company Limited (ACTS).
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London Oxford Airport retained its position in the top five UK business aviation airports during 2018 with some 5,500 business aviation movements logged and a 20% increase in passengers in the last year. Its OxfordJet facility – now into its 11th year, continues to handle more and more medium and large cabin jets - from as far afield as Tokyo.
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There was a slight growth, 2% up in bigger business jets, compared with 2017, whilst light jets and mid-range types remained stable. Turboprops, in particular Pilatus PC-12 activity, expanded significantly - 34% over last year, mainly flying privately. The airport also started to see regular Pilatus PC-24 movements, from fractional ownership company JetFly. Leisure charters increased, in part due to the increasingly popularity of the neighbouring Cotswolds for weekend city dwellers; weddings and events at Soho Farmhouse in Great Tew, 14 miles away.
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In a year dominated by the uncertainty of Brexit, the airport has benefitted from the arrival of new tenants, more based aircraft, including two Bombardier Globals (looked after by Excellence Aviation, now under Inflite The Jet Centre ownership) and existing businesses expanding their operations. For example, group purchasing organisation AVIAA, acquired a similar business in the UK, Convolus and complemented its UK Oxford office with a new base in Germany, headed by Managing Director Irena Deville.
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“The number of independent MRO companies offering base and line maintenance with us has never been broader,” says James Dillon-Godfray, London Oxford Airport’s Head of Business Development. Volare Aviation recently added Gulfstream and Leonardo AW series to the number of models it supports. Brand new Cessna Citation and Dassault Falcon Jet MRO Jet Maintenance International (JMI) selected London Oxford Airport as its base this month, taking space in the airport’s brand new 18,000 sq ft hangar, which was completed early this year.
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GlobeAir of Austria, the largest Cessna Citation Mustang charter operator, has established a Part 145 base and line maintenance business at Oxford to support its fleet in house. Patrick Marchant, former head of maintenance at Blink Air and EuroJet, leads the activity. Its Mustangs were previously supported by Gama Aviation at Oxford, which moved out last year. Globe Air has subsequently increased its Mustang fleet to 20, taking an additional four from WiJet of France. With nearly a third of its charters flying in or out of the UK now, including its prolific contribution as a Victor and Privatefly operator, Globe Air is able to offer competitive charter prices on its flights.
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Innovative aircraft and engines leasing, trading and part-out specialist APOC Aviation has purchased two Boeing 737–700 airframes from previous owners Infinity Transportation. MSN34303 and MSN20752 were previously in BBJ configuration operated by PrivateAir SA – as such, both aircraft accumulated low flight cycles compared to commercial usage.
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APOC will co-ordinate an efficient remote teardown programme at two separate locations in
Germany. All parts will be shipped back to APOC’s warehouse, close to Schiphol, in The Netherlands for evaluation and strategically selected for repair or overhaul.
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Capital for this acquisition was raised through APOC’s recent crowdfunding campaign and Jasper van den Boogaard, Director of Acquisition & Trading at APOC Aviation, says that the Company’s advanced approach to a broad spectrum of investor initiatives is generating many opportunities to expand the scope of the business.
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It is APOC Aviation’s development strategy to concentrate solely on the most liquid aircraft types, operated by the largest number of operators and maintained by the most MROs. The continued worldwide operation of the two most favoured aircraft types is indicative of a long-term demand for the parts, not only in today’s market, but also when more B737-800s and A321s are converted to
freighters.
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Metrojet has commenced construction of their new state-of-the-art parking and maintenance hangar at Clark International Airport, Pampagna, Philippines. Aircraft Support Industries (ASI) is appointed to undertake the full design and construction of the 26,000 m² facility. With over 7,100m² of hangar floor space, the facility can accommodate up to 10 long range business jets and up to a maximum of Boeing Business Jet or Airbus Corporate Jet.
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Designed to international standards with a fully typhoon-proof structure and NFPA fire suppression system, the facility also includes over 2,500m² of customer accommodation and storage, fixed-base operator (FBO) capability and engineering support workshops and materials warehousing. With a dedicated taxi-way and parking ramp of over 11,000m² it will provide secure and private aircraft parking, maintenance and FBO services.
The facility represents a total investment of around US$25 million by Metrojet and is planned to be operational by Q2 2019.
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