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LATEST NEWS
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Thursday, October 27th, 2022
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In contrast to predictions of a US$347 million profit for the third quarter of the year by analysts surveyed by Refinitiv, Boeing Co. has posted a quarterly loss of US$3.3 billion, appreciably worse than the US$132 million it posted for the same quarter last year.
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The news has come as even more of a surprise as the company had posted a profit in the second quarter with a net income of US$160 million. Boeing has been quick to point to massive hits it has taken in the Air Force One contract and also the Starliner programme. Boeing has already admitted that the contract to refurbish two 747 jets that will become the next generation of Air Force One has been a mistake. The fixed-price contract set at US$3.9 billion has seen Boeing already take a US$660 million charge for losses on the planes in the first quarter of this year. In addition, the jets are well behind schedule and have now been slated for delivery in four years’ time.
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To compound Boeing’s woes, its Starliner programme to build capsules which will carry astronauts to the International Space Station has also added to the US$3.3 billion loss, though Boeing have not revealed how much of the defence and space unit’s US$2.8 billion operating loss was attributable to the programme. The long-delayed project has now been further delayed and in August the company pushed back the first crewed flight until early next year.
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Despite the commercial jets business delivering 112 planes in the quarter and revenue increasing by 4% to US$16 billion, the division still managed to post an operating loss of US$643 million for the quarter. (£1.00 = US$1.16 at time of publication).
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SAUDIA, the national flag carrier of Saudi Arabia and Lilium N.V. (Lilium), developer of the all-electric vertical take-off and landing (eVTOL) jet, at the sixth edition of the Future Investment Initiative (FII), have announced a Memorandum of Understanding (MoU) for the proposed development and operation by SAUDIA of an eVTOL network across Saudi Arabia. The proposed arrangement will make SAUDIA the first airline in the MENA region to purchase 100 Lilium Jets alongside yearly support services.
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With zero operating emissions, the Lilium Jet will enable sustainable and time-saving travel. SAUDIA intends to launch a state-of-the-art service with the purchase of 100 Lilium Jets including new electric point-to-point connections as well as seamless feeder connections to SAUDIA’s hubs for business class guests. Lilium Jet’s flexible cabin architecture is expected to enable a range of spacious interior configurations that are well suited to the needs of the premium market, which Lilium believes can help drive the early adoption of eVTOL aircraft required to scale.
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SAUDIA also expects to support Lilium with the necessary regulatory approval processes in Saudi Arabia for certification of the Lilium Jet and any other required regulatory approvals. As the national flag carrier of Saudi Arabia, SAUDIA currently serves a network of more than 100 domestic and international destinations. Lilium and SAUDIA plan to combine SAUDIA’s unrivalled market knowledge and Lilium’s unique eVTOL aircraft to transform the Kingdom’s domestic air transport sector.
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Air Canada has converted options for 15 Airbus A220-300 aircraft into firm orders, bringing to 60 the total number of the Canadian-built aircraft it will acquire for its fleet.
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"This expanded order for the A220, built up the road from our Montreal headquarters, is an important development in the modernisation of our fleet and a clear indication that we are emerging from the pandemic solidly positioned for the future. The A220 has become a mainstay of our narrow-body fleet and its performance and passenger comfort are enabling us to compete effectively in the North American market," said Michael Rousseau, President and Chief Executive of Air Canada. "We are also proud to support the Canadian aerospace industry. This increased order will support jobs at Airbus' Mirabel factory and affirms Air Canada's positive economic impact in Montreal, Quebec and throughout Canada."
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Air Canada placed its initial order for the A220, then known as the Bombardier C Series, in 2016, with a firm order for 45 aircraft and 30 options. The first A220 entered service for Air Canada in January 2020 and the airline currently operates a fleet of 31 A220s, with two more deliveries expected in 2022. Six more will be delivered in each of 2024 and 2025, with the 15 additional aircraft scheduled for delivery in 2026. All of Air Canada's A220s are built in Mirabel.
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For the third quarter 2022, Spirit Airlines (Spirit) has reported a net loss of US$36.4 million. Excluding special items, adjusted net income for the third quarter 2022 was US$3.6 million.
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For the third quarter 2022, Spirit reported a pre-tax loss of US$48.9 million and a pre-tax margin of negative 3.6%. Adjusted pre-tax loss for the third quarter was US$1.2 million and adjusted pre-tax margin was negative 0.1%.
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The company cancelled approximately 550 flights and 400 flights in September and October, respectively, related to Hurricane Ian. The company estimates the decrease in operating income attributable to the direct impact from the hurricane was approximately US$5 million in the third quarter and will be approximately US$5 million in the fourth quarter 2022. In addition, the Spirit saw some softness in bookings to Florida destinations as well as to Myrtle Beach in early October immediately following the hurricane and estimates this will negatively impact fourth quarter 2022 revenue by an additional US$3 million to US$5 million.
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Total operating revenues for the third quarter 2022 were US$1.3 billion, an increase of 35.4% compared to the third quarter 2019 primarily due to increased flight volume and higher operating yields. Total revenue per ASM (TRASM) was 11.07 cents, up 19.3% compared to third quarter 2019 on 13.5% more capacity.
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Embraer has signed several Memorandums of Understanding (MoUs) with the aerospace companies ASTG (Aerospace Technology of Global), EMK (EM Korea Co.) and Kencoa Aerospace, from South Korea with the objective of strengthening collaboration with Korean defence industry partners for the future supply of parts for the C-390 Millennium aircraft. The C-390 Millennium aircraft is competing in the Large Transport Aircraft (LTA) II Program being run by the Defence Acquisition Program Administration (DAPA).
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The potential supply of South Korean manufactured parts will contribute to the offset requirements of the LTA II Program. The MoUs intend to create long-term business relationships between the parties which will endure for the LTA II Program and beyond. Local industry capabilities can also be part of future developments within Embraer’s existing platforms such as the C-390 Millennium as well as new aircraft, vehicles, and systems.
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The C-390 Millennium and its aerial refuelling configuration, the KC-390, are the new generation of multi-mission military transport delivering unrivalled mobility and cargo capacity, rapid re-configuration, high availability, enhanced comfort, as well as optimal management of reduced operational costs throughout its lifecycle, all on a single platform.
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The electric vertical take-off and landing (eVTOL) aircraft designed by UMILES Next, Concept Integrity, equipped with FlyFree technology developed by research partner TECNALIA, took to the skies successfully over Jaén, Spain on October 26. Following its recent flight in Toulouse, this was the first free flight completed by the aircraft in Spain, as part of USPACE4UAM, a European demonstration project intended to safely integrate mixed operations, including manned and unmanned vehicles, into urban settings.
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The test flights took place at the ATLAS Test Flight Centre in Villacarrillo, Jaén, which undertakes testing of unmanned aviation technologies and systems and light and tactical remotely piloted systems. These flights allow UMILES Next and TECNALIA to run further tests on their eVTOL prototype, paving the way for the future integration of the air taxi into urban airspace.
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This is a significant milestone towards the integration of these aircraft into urban airspace, as defined by the European USPACE4UAM project, which seeks to test and demonstrate effective management of urban air traffic featuring unmanned aircraft. The Concept Integrity was flanked at the testing event by other unmanned aircraft at different layers with a view to proving that this new traffic type can be safely and seamlessly integrated into urban areas in the near future. The companies participating in the USPACE4UAM project include HONEYWELL, the project leader, Vertical Aerospace, CATEC and ENAIRE.
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The mobility of the future will be smarter and more sustainable than ever before. New systems and developments will deliver alternative transport solutions in increasingly busy cities. UMILES Next and TECNALIA are working tirelessly to deliver urban air and ground mobility solutions which are set to become real transport options by 2028.
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This was the first time the Concept Integrity prototype has flown in open air space in Spain and the aircraft’s second free flight, after it took successfully to the skies of Toulouse back in September as part of an initiative by the TindAIR consortium, which rolls out large-scale urban air mobility test flights to test and demonstrate effective management of air traffic using unmanned aircraft in urban settings. The air taxi’s next stop for further testing is Lugo.
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Alaska Airlines is exercising options to purchase 52 Boeing 737 MAX aircraft for delivery between 2024 and 2027 growing the airline’s confirmed 737 MAX fleet from 94 to146. Alaska also secured rights for 105 more planes through 2030, ensuring access to sufficient aircraft for fleet replacement and growth. This agreement represents the largest commitment for future aircraft in the airline’s history.
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This order positions Alaska’s fleet as one of the most efficient, environmentally friendly and profitable fleets in the industry. The order includes 737-8, 737-9 and 737-10 aircraft, enabling Alaska to optimally match aircraft size and capability with market characteristics so Alaska will have full flexibility to shift between 737 MAX models as appropriate.
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IBA, the leading aviation market intelligence and consultancy company, has today published its monthly Aviation Industry Barometer for September 2022, showing that Latin America is leading the global recovery, having surpassed pre-pandemic capacity levels since May this year, with flight capacity for September 2022 exceeding 2019 levels by 2%.
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Intelligence from IBA Insight reveals, however, that the recovery in monthly global passenger flights fell back by 2% in September 2022, with flight capacity down to 81% relative to pre-pandemic levels.
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IBA’s Aviation Industry Barometer for September 2022 indicates that overall, there were approximately 2.42 million commercial passenger flights in September 2022, compared to 2.64 million in August 2022, while 2.07 million flights were recorded in September 2021.
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Latin America is leading the global recovery surpassing pre-pandemic capacity levels since May this year, with flight capacity for September 2022 exceeding 2019 levels by 2%. The recovery in Asia Pacific flight capacity took a hit during September due to another COVID outbreak across China, with capacity levels at a -35% variance to 2019 levels.
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There were 113 commercial aircraft deliveries in September 2022, representing a month-on-month increase of 52% compared to August 2022, and a year-on-year gain of 33% compared to September 2021. Freighter deliveries remain exclusive to Boeing, with four aircraft delivered in September – two 777Fs and two 767-300F aircraft, going to a mixture of operators.
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Aerospace design and engineering specialist, Aerospace Engineering Solutions (AES), has received the Supplemental Type Certificate (STC) for the installation of forward cabin closets.
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Recently issued by EASA, this latest STC (No. 10079922) applies to the Boeing B737-800 family. Developed in conjunction with Causeway Aero in Northern Ireland, this modification installs seat track mounted underbin coat stowages to the forward left- and right-hand cabin area of the aircraft.
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Targeted for operators with limited stowage accommodation, each 12.5” unit features 2 x coat stowage rails behind an inboard opening door while décor is a standard Isovolta 70F1 type customised to suit.
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Through the company’s Design Organisation Approval (DOA), the closet units are delivered with UK CAA Form 1 approval.
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