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This
Week's Fleet News
Adam
Aircraft
GoIndustry-DoveBid,
the leading global provider of capital asset
management and valuation services, has been
appointed by the United States Bankruptcy Court
of Colorado and trustee of Adam Aircraft
Industries to manage the sale of its
assets.Founded in 1998, Adam Aircraft
(www.adamaircraft.com) designed and manufactured
a family of innovative general aviation
aircraft, including the centerline thrust,
twin-engine A500, and the A700 twin-engine very
light jet. The A500 aircraft has been Type
Certified by the FAA; and the A700, at the time
of bankruptcy filing, was undergoing flight test
and development with certification anticipated
in late 2008. The company used computer-aided
design, rapid prototyping, advanced
manufacturing techniques, and carbon composite
materials to produce high-performance aircraft
at attractive prices. Operations of the Colorado
facilities were suspended in February 2008. The
Company employed approximately 800 skilled
workers and engineers. Apr 1, 2008
Boeing
Boeing delivered
115 commercial aircraft in the first quarter, up
from 106 in the first three months of 2007.
First-quarter 2008 deliveries comprised 87
737NGs, four 747s, three 767s and 21 777s or
8.5%. The company has booked record orders in
recent years and is ramping up production.
Airbus has not yet released data for the
quarter. By the end of February, it had
delivered 75 commercial planes. Financial
analysts watch deliveries closely because that
is when manufacturers receive the bulk of
payment for an aircraft. Apr 4, 2008
Boeing, last
year, took net orders for 1,413 planes worth
about USD$170 billion at list prices, breaking
its own annual order record for the third
consecutive year and setting a record for the
industry. Despite warnings that the aerospace
bubble is set to burst, Boeing has taken 288
orders so far this year, compared with 189 at
the same time last year. Airbus had 341 net
orders at the end of February. Apr 4,
2008
Bombardier
Bombardier
aircraft deliveries rose to 361 for the year
from 326 a year earlier, aided by a surge in
business jet business. In the quarter,
deliveries rose to 115 from 101. Bombardier
expects deliveries to increase this year for
business jets, and to be flat for regional jets.
In the regional jet sector, the main competitor
has traditionally been Brazil's Embraer, but the
Canadian firm will face a new rival by 2013 when
Mitsubishi Heavy Industries rolls out what would
be Japan's first passenger jet. The 70- to
90-seat Mitsubishi aircraft would compete with
Bombardier's flagship regional jet offering. Apr
4, 2008
Bombardier
profits nearly doubled in the fourth quarter, as
the result of increased deliveries of business
and regional jets and an income tax benefit.
Bombardier, the world's biggest passenger train
maker and No. 3 civil aircraft manufacturer,
said on Thursday it earned USD$218 million in
the quarter ended January 31. That was up from a
profit of USD$112 million a year earlier. The
profit margin in Bombardier's aerospace group
rose to 6.7 percent from 4.8 percent a year
earlier. The Montreal-based company said it
expects to hit its target of 8 percent in fiscal
2009, a year earlier than planned, though that
advance stems largely from an accounting change.
Revenue rose 19.2 percent to USD$5.27 billion
from USD$4.42 billion, mainly on stronger
business and regional jet deliveries.
Bombardier's order backlog at January 31 was at
record levels, reaching USD$22.7 billion in
aerospace, up 72 percent from $13.2 billion.
Jacques Klavafian, an analyst at Research
Capital, said he expects Bombardier to boost its
aerospace backlog further this year, with a
book-to-build ratio of more than 1.5-to-1. Apr
4, 2008
Strong demand
for jets pushes Bombardier's Q4 profit higher.
Jetmaker Bombardier said strong demand for
regional and business jets sent fourth-quarter
profits up 95%. The Canadian company reported
net income of $218 million, up from $112 million
in the same period a year ago. Apr 4,
2008
Bombardier today
released robust financial results for the fourth
quarter and the year ended January 31, 2008
which showed continued improvement on all
fronts. Revenues increased by 18% to reach $17.5
billion. Earnings before financing income,
financing expense and income taxes (EBIT), from
continuing operations before special items
totalled $902 million, compared to $577 million
last fiscal year, a 56% increase. EBIT margin
from continuing operations before special items
at 5.2% compares to last year's 3.9%. Earnings
per share (EPS) from continuing operations
before special items reached $0.26, compared to
$0.14 last fiscal year. Net income reached $317
million, or a diluted EPS of $0.16, compared to
a net income of $268 million and an EPS of
$0.14. The overall backlog reached a new record
high, climbing to $53.6 billion, an increase of
$12.9 billion compared to January 31, 2007.Free
cash flow (cash flows from operating activities
less net additions to property, plant and
equipment) surged by $1.4 billion to reach $2
billion. The cash position increased by $1
billion to reach $3.6 billion, after early
repayments of $1.1 billion of long-term debt and
payment of discretionary pension fund
contributions totalling $384 million. Apr 3,
2008
MD
Helicopter
Helicopter
manufacturer MD Helicopter may relocate to North
Texas Regional Airport. The airport is one of
four finalists selected by the company, which
could create 650 new jobs in the area over three
years. Apr 3, 2008
EUROPE
Airbus,
EADS
French stock
exchange regulator AMF College believes it has
found evidence &endash; following a long-running
inquiry &endash; of a failure to comply with
market trading rules at Airbus parent company
EADS. EADS - as well as the concerned company
and Airbus executives - have formally taken
notice of the decision of the AMF to initiate
proceedings, respectively for breach of market
information duties and for breach of insider
trading rules. The issue surrounds whether
employees had insider knowledge of delays with
its Airbus A380 superjumbo before selling shares
in the company. The European aerospace giant
said the regulator considered that the elements
gathered during the investigative phase of the
inquiry, 'as interpreted by AMF's investigators,
do not justify a dismissal of the case.' The
company's statement said that people involved
'will be able to confront AMF's interpretation
with their explanation of the facts of the case'
and that they 'intend to vigorously exercise
their defence rights with the support of EADS,
in front of the Sanction Commission of the AMF
which will decide whether to impose fines after
due hearing of the parties.' EADS considers that
the financial risk associated with this
procedure and its possible consequences is not
material but 'recognises that these proceedings
may have significant consequences on its image
and reputation.' EADS owns Airbus, whose A380 is
beginning to enter service around the world -
notably, on the Singapore-London route last
month. This is the 'first step of what is likely
to be a long process,' read the statement. Apr
2, 2008
French regulator
presses charges against Airbus parent EADS.
European aerospace firm EADS is facing charges
of insider trading and misleading investors,
according to media reports. The charges, filed
by French regulators, are related to cost
overruns and aircraft delays at Airbus, its
commercial airline unit. EADS said it will
"demonstrate that it has applied standards of
excellence when communicating to the market, and
has acted with full transparency." Apr 1,
2008
ExecuJet
Aviation, Bombardier
ExecuJet
Aviation has launched a new lease-based
alternative to fractional ownership, block
charter and traditional aircraft management.
Simply Fly will see the Swiss group acquiring
business jets, making them available to
individual clients and operating them on a fully
turnkey basis, covering crew, insurance,
maintenance and handling. Customers will have
exclusive use of an aircraft and a dedicated
crew. The aircraft will be operated under one of
the following eight air operating certificates
(AOCs) that ExecuJet holds around the world:
Switzerland, Germany, Denmark, the UK, South
Africa, Australia, Mexico and the United Arab
Emirates. The group already operates more than
100 aircraft. As a Bombardier distributor in 35
countries, ExecuJet is now negotiating with the
Canadian manufacturer to buy an initial batch of
Global Expresses and Challengers. It plans to
begin Simply Fly operations by September with a
pair of used Challenger 604s. Mar 31,
2008
Flybaboo
Flybaboo intends
to add five 100-seat Embraer E-190s over the
next two years, with the first three arriving by
June. It currently operates two Bombardier
DHC-8-Q400s. Mar 31, 2008
SAS
Scandinavian, Bombardier
SAS Scandinavian
says it is not ruling out operating the new
Bombardier DHC-8-Q400, despite having completely
withdrawn its predecessor last year. The carrier
pulled all 27 of its Q400 fleet following a
series of landing gear incidents that sapped SAS
confidence in the regional aircraft. SAS vice
president network and revenue management partner
and alliances Christian Hylander said the
carrier could consider its replacement. SAS
recently announced it had opted to purchase 27
of the so-called New Generation Q400s for
partner carriers Air Wideroe and Air Baltic, a
development that Hylander conceded had taken
some by surprise. The SAS vice president
insisted that the new aircraft &endash;
purchased in a complex financial arrangement
with manufacturer Bombardier &endash; had a new
landing gear system &endash; the apparent source
of incidents involving SAS Q400 types. the
airline also revealed something of the
logistical headache posed by SAS' decision to
withdraw its Q400 fleet. Apr 2, 2008
SATA Air
Acores, Bombardier
SATA Air Acores
parent Grupo SATA ordered four Bombardier
DCH-8-Q400 NextGens, Bombardier announced.
Aircraft are worth $113 million at list prices
and will seat 80 passengers each. Delivery date
was unannounced. Air Acores currently flies five
BAe ATPs and one Do-228. Apr 1, 2008
Sukhoi
Aircraft
Sukhoi Civil
Aircraft purchased the Pacelab Cabin solution in
order to develop customer-specific cabin
configurations and "promote sales" of the
Superjet 100 regional aircraft. Mar 31,
2008
ASIA
AirAsia X,
Airbus
AirAsia X will
exercise its 10 Airbus A330-300 options in a
deal worth $2.1 billion, CEO Azran Osman Rani
told media in Kuala Lumpur. It already has 15 of
the type on firm order. A signing ceremony is
expected to take place this week. Mar 31,
2008
All Nippon
Airways
All Nippon
Airways may seek compensation if there are
further production delays to Boeing's new 787,
the company's president was quoted on Wednesday
as saying. ANA will also take a step toward
setting up a budget airline in Asia by
establishing an office in Hong Kong from April,
a company spokesman said. Boeing announced in
January a second delay for the 787, pushing
first deliveries back to early 2009. The
prospect of a further delay emerged last week
when the Financial Times reported that Boeing
said it would have to redesign parts of the
aircraft. ANA President Mineo Yamamoto told the
Mainichi Shimbun daily that his company, which
is due to be the first to take delivery of the
new aircraft, might consider demanding
compensation for any further delays. A company
spokesman said that since there has not been
formal notification of another delay, no
decision has yet been made by the airline. Mar
31, 2008
All Nippon
Airways exercised options for two additional
Boeing 767-300BCFs, bringing its firm orders for
the passenger-to-freighter conversions to seven.
The carrier is the launch customer for the
aircraft. The first of its converted freighters
is nearing completion at Singapore Technologies
Aerospace and is expected to make its first
flight this month. After flight testing and
certification, redelivery to ANA is planned for
June at the SASCO facility in Singapore. Apr 4,
2008
AVIC I
Commercial Aircraft
AVIC I
Commercial Aircraft I announced that GECAS
became the first Western customer to commit to
the aircraft, signing an MOU for five aircraft
plus 20 options ARJ21-700s, China Daily reported
from Beijing. AVIC I Vice GM Hu Wenming,
speaking at the ceremony launching Joy Air,
confirmed that GECAS is the new aircraft's first
overseas customer and that the lessor "said it
will buy more ARJ21 planes to strengthen its
fleet. . .This means ARJ21 planes have been
accepted by the market." Mar 31, 2008
Chinese
government officially approved the launch of the
jumbo aircraft manufacturing company that
reportedly will begin operating as early as this
month. It did not start up last month as
originally planned. Local news reports revealed
that it will be called China Commercial
Aircrafts Co. and that the first board meeting
was held last month in Beijing. The State-owned
Assets Supervision and Administration Commission
of the State Council will be the controlling
shareholder of the new entity while the Shanghai
local government, represented by Shanghai
Guosheng Group will hold the second-largest
stake. Other investors include AVIC I, which
plans to combine its Shanghai aircraft
manufacturing factory, the First Aircraft
Institute and ACAC into the new company; AVIC
II; Baosteel Group, and Aluminum Corp. of China.
Apr 2, 2008
China
Southern Airlines, Airbus
China Southern
Airlines will sell and lease back five Airbus
A321-200s in order to reduce its high debt
ratio, it said in a filing with the Shanghai
Stock Exchange. The aircraft are part of an
order for 50 Airbus narrowbodies placed in
summer 2006. China Southern said it will
transfer ownership of three aircraft to China
Aircraft Leasing and two to Shenzhen Financial
Leasing Co. Last year it struck a similar deal
with the two lessors, selling two -200s to CALC
and one to SFLC. Apr 3, 2008
CIT
Aerospace, Tiger Airways
Australia
CIT Aerospace
has signed leases for two new Airbus A319-100s
with Tiger Airways Australia. The aircraft will
be powered by IAE V2524-A5 engines. CIT owns or
finances a fleet of more than 300 commercial
aircraft. Mar 31, 2008
Malaysia
Airlines, Airbus
Malaysia
Airlines will delay delivery and take its six
Airbus A380-800s in January-August 2011 under an
agreement with Airbus that "include[s]
an agreed amount of compensation for the delay,"
the carrier said. It originally was scheduled to
take delivery from January 2007 to December
2008. Apr 1, 2008
Malaysian
carrier books Boeing order, reaches agreement
with Airbus. Malaysia Airlines on Monday said it
will buy 35 Boeing 737-800 aircraft. The order
is worth $2.7 billion, based on list prices. It
was unclear whether the aircraft are part of a
Boeing order placed last month by an
unidentified customers. They will replace
737-400s. Malaysia Air said it can swap -800s
for -900s if it chooses. "We will likely
partially purchase the 737-800 on our own and
partially lease them as that would give us the
flexibility to manage our balance sheet and
financing commitments, and to sell some of them
when the time is right," Jala said. Apr 1,
2008
Shandong
Airlines, Boeing
Shandong
Airlines, based in Jinan, will take delivery of
six Boeing 737NGs in 2009 and 16 in 2012-13,
according to a statement to the Shenzhen Stock
Exchange cited by press reports. According to
its website, Shandong operates 37 aircraft on
more than 700 weekly flights to 50 destinations.
Mar 31, 2008
