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Spirit AeroSystems posts third-quarter net loss of US$156 million

Spirit’s third quarter of 2020 revenue was US$806 million, down from the same period of 2019, primarily due to the significantly lower 737 MAX production resulting from the grounding of the program and the impacts of COVID-19. Deliveries decreased to 206 shipsets during the third quarter of 2020 compared to 437 shipsets in the same period of 2019, including Boeing 737 MAX deliveries of 15 shipsets compared to 154 shipsets in the same period of the prior year.  

Spirit’s backlog at the end of the third quarter of 2020 was approximately US$40 billion, with work packages on all commercial platforms in the Boeing and Airbus backlog.

Operating loss for the third quarter of 2020 was US$(177) million, down compared to operating income of US$206 million in the same period of 2019. Included in the 2020 operating loss were excess capacity costs of US$72.6 million, forward loss charges of US$(128.4) million, primarily driven by the lower production rates announced by Boeing and Airbus on the 787 and A350 programs, and restructuring expenses of US$19.5 million for cost-alignment and headcount reductions. In comparison, during the third quarter of 2019, Spirit recorded US$(28.8) million of net forward loss charges.

Spirit reported a third-quarter net loss of US$(156) million and cash from operations of US$(53) million, down from US$255 million in the same quarter last year, primarily due to negative impacts of working capital requirements and significantly lower production deliveries, partially offset by favorable cash tax.

On October 30, the company closed the acquisition of select Bombardier assets. Prior to the closing, on October 26, 2020, Spirit, Bombardier, Inc. and certain of their affiliates entered into an amendment to the purchase agreement that reduced the net proceeds purchase price payable to the sellers from US$500 million to US$275 million.

Investor group led by Apollo completes acquisition of Atlas Air Worldwide

Atlas Air Worldwide (Atlas) a leading global provider of outsourced aircraft and aviation operating services, has released that the investor group led by funds managed by affiliates of Apollo, together with investment affiliates of J.F. Lehman & Company and Hill City Capital, has completed its previously announced acquisition of the company. The company will continue

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Afroport Mauritanie and IATA sign agreement on ground handling safety

The International Air Transport Association (IATA) and Afroport Mauritanie have signed an agreement to enhance the safety of ground operations in Mauritania with a focus on two critical global standards: IATA Ground Operations Manual (IGOM) and the IATA Safety Audit for Ground Operations (ISAGO). The agreement was signed by Kamil Alawadhi, IATA’s Regional Vice President,

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Recaro Business-Class seats take flight on Iberia’s A350 cabin

The Recaro Aircraft Seating (Recaro) CL6720 Business-Class seat with doors took flight in Iberia’s A350 cabin on the route from Madrid to Buenos Aires in January. A total of 31 CL6720 seats are outfitted in the A350 Business-Class cabin. The Premium-Economy and Economy cabins are also fully equipped with the Recaro PL3530 and the CL3710,

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AAR elects John W. Dietrich to Board of Directors

AAR CORP. has released that John W. Dietrich has been elected to AAR’s Board of Directors, effective immediately. Dietrich is the President and Chief Executive Officer of Atlas Air Worldwide Holdings (Atlas), a leading global provider of outsourced aircraft and aviation services, and serves as the Chairman of the National Defence Transportation Association.  “Mr. Dietrich

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Finnair increases use of sustainable aviation fuel

Finnair is increasing the use of sustainable aviation fuel (SAF) as part of its goal to reduce carbon emissions from flying. Finnair has purchased 750 tonnes of SAF from its partner Neste for use on flights departing from Helsinki Airport. Finnair’s customers are also involved in reducing carbon dioxide emissions from flights: a small part

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BAA Training partners with Airways Aviation Academy in France

BAA Training, one of Europe’s largest independent aviation training centres, has partnered with Airways Aviation Academy (ESMA), one of the largest privately owned multidisciplinary aviation academies based in France. BAA Training’s soon-to-open simulator centre near Paris-Orly Airport, BAA Training France, will be assisting the Airways Aviation pilots with MCC courses and A320/B737 type rating training.

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Virgin Orbit operations on hold as further investment sought

Richard Branson’s Virgin Orbit has temporarily put all operations on hold while the company looks to secure additional funding. The move follows on from the failed first launch of its satellite mission from UK soil back in January. In a statement, the company confirmed: “Virgin Orbit is initiating a company-wide operational pause, effective (from) March

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London Gatwick Airport reports strong financial results for 2022

London Gatwick Airport has published its financial results for 2022, and recognising the urgent need to make net-zero a reality has accelerated its commitment to be net- zero for its own Scope 1 and 2 carbon emissions by 2030, ten years ahead of its previous commitment. This commitment is aligned with both VINCI Airports’ environmental action

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LHT hands over third Airbus A350 government aircraft to German Armed Forces

Lufthansa Technik has handed over another new Airbus A350 government aircraft to the German Armed Forces. Prior to this, the modern long-haul jet was ceremonially christened “Theodor Heuss”, after the first President of the Federal Republic of Germany. The aircraft was ferried from Lufthansa Technik’s Hamburg base to Cologne-Wahn airport on March 17, to be

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SriLankan Airlines becomes new member of AMOS community

Swiss-AS has welcomed SriLankan Airlines as a new member of the AMOS customer community. With regard to paperless maintenance, the use of AMOSmobile/EXEC, a touch-optimised add-on to AMOS, will enable SriLankan Airlines to perform all line and base maintenance activities paperless, adding value not only in terms of cost, but also in terms of time,

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Bluebird Nordic plans to obtain Air Operator Certificate (AOC) in Slovakia

Bluebird Nordic, the Icelandic ACMI leasing and cargo airline, is planning to obtain an Air Operator Certificate (AOC) in Slovakia, expanding its operations in Europe. The company’s decision comes as a strategic move to enter new and prominent markets. “Slovakia is ideally positioned in the middle of Europe, which offers great opportunities for a wider

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