|
|
|
|
|
|
|
|
|
|
LATEST NEWS
|
|
Monday, January 30th, 2023
|
|
|
|
|
Flybe, the regional UK carrier has, for the second time in three years, entered into administration. It has ceased all operations, cancelled all flights and laid off 276 members of its staff, leaving some 75,000 passengers who have already booked tickets in a state of limbo as the tickets will no longer be honoured.
|
"Flybe has now ceased trading and all flights from and to the UK operated by Flybe have been cancelled and will not be rescheduled," it said on Saturday. Operating a fleet of eight Bombardier Q400 twin-turboprop aircraft Flybe flew 21 routes to 17 destinations from Belfast, Birmingham and Heathrow across the UK and to Amsterdam and Geneva.
|
David Pike and Mike Pink from Interpath have appointed joint administrators and Pike commented that since the carrier’s relaunch last year it has encountered a number of problems, one of the major ones being the failure of lessors to deliver 17 aircraft on time, severely compromising Flybe’s attempts at rebuilding capacity and remaining competitive.
|
Flybe originally went into administration in March 2020 as a direct result of the impact of the COVID-19 pandemic on air travel, at that time affecting 2,400 jobs. The business was sold to Thyme Opco Ltd, a Cyrus Capital-controlled firm, in October 2021 and it recommenced operations in April 2022, though on a much smaller scale. The demise of Flybe is in contrast to a recent uptick in demand witnessed by both Ryanair and easyJet, two major low-cost European carriers, both of whom have reported record-breaking bookings for the forthcoming summer season.
|
|
|
|
|
|
Iberia Maintenance and RwandAir have signed a multi-year exclusive contract to maintain the CFM56-7B and 7BE engines powering the airline's Boeing 737 fleet.
|
Iberia Maintenance was selected by RwandAir following a rigorous process, with a proposal deemed to be the most competitive, including engine lease, logistics and customised work scope utilising the Spanish company´s engineering expertise.
|
Iberia Maintenance's engine shop, located in Madrid, is specialized in CFM56, V2500 and RB211 engines and provides services to a worldwide customer base of airlines, OEMs and the wider Industry.
|
Operating from Kigali, RwandAir is one of the world’s fastest-growing airlines and operates one of the youngest state-of-the-art fleets on the African continent operating 12 aircraft with an average age of just under six years. The airline currently offers services to 25 destinations across 21 countries throughout Africa, Europe, the Middle East and Asia.
|
|
|
|
|
|
|
|
Boom Supersonic kicked off construction of its Overture Superfactory in Greensboro, North Carolina. The Overture Superfactory is a state-of-the-art manufacturing facility located on a 62-acre campus at the Piedmont Triad International Airport. This site will house the final assembly line, as well as test facility and customer delivery centre for Boom’s flagship supersonic airliner, Overture.
|
“Today’s ground-breaking for the Overture Superfactory represents a significant step forward in building sustainable and accessible supersonic travel for the world,” said Kathy Savitt, President of Boom Supersonic. “This milestone is a shared one and we are deeply appreciative of the input, leadership and support of the Piedmont Triad Airport Authority, local community and the state of North Carolina.”
|
By 2032, Boom will hire more than 2,400 workers at the Superfactory and recruiting is already underway. North Carolina economists estimate that the full Boom manufacturing programme will grow the state’s economy by at least US$32.3 billion over 20 years. In addition to Boom’s job creation in the state, the company is creating over 200 internships for students in North Carolina public universities, community colleges and trade schools to build the next generation of supersonic workers.
|
|
|
|
|
|
Embraer announced an initial investment in the MSW MultiCorp 2 of R$20 million (around US$4 million), to attract and boost innovative Brazilian start-ups that synergize with the company's innovation strategy. Embraer has strengthened its role in promoting entrepreneurship in the Brazilian ecosystem, not only by making investments but creating partnerships with entrepreneurs interested in working collaboratively.
|
MSW MultiCorp 2 is managed by MSW Capital, a Venture Capital manager and a pioneer in Brazil specialised in corporate venture capital. This is MSW's second Multi-Corporate Venture fund. The model developed by the manager allows large corporations to invest in start-ups in a strategic and structured way. Upon entering the fund, Embraer joins Moura Baterias and BB Seguros in expanding the fund's investment focus areas in insurance and energy for start-ups with digital and platform solutions for the aerospace, agro and cargo-logistics sectors.
|
|
|
|
|
|
|
|
The Board of Directors of Flughafen Zürich has appointed Lukas Brosi as its new CEO. He succeeds Stephan Widrig, who will leave the company at the end of April, as previously announced. Brosi joined Flughafen Zürich in 2009 and has been CFO and member of the Management Board since 2017.
|
CEO Widrig will leave the company at his own request to take on a new external challenge. The handover of the CEO position and responsibilities to Brosi will take place by the end of April. Flughafen Zürich will now start the process of replacing the CFO position.
|
|
|
|
|
|
Lufthansa Technik is to perform extensive base maintenance services for Norway-based airline FLYR AS on Boeing 737 MAX 8 and 737-800 aircraft. Starting in January, Lufthansa Technik Budapest will perform scheduled base checks on the start-up airline's fleet.
|
"Lufthansa Technik has supported us with component service and been a reliable partner since the start in 2021," says Magnus Wannebo, Technical Director at FLYR. "We are very confident that the good support and cooperation will continue as we start our first heavy maintenance checks."
|
With its entire fleet, FLYR has already been a Total Component Services customer of Lufthansa Technik since the airline was founded in 2021. The now expanded cooperation with the young airline extends Lufthansa Technik's activities in Northern Europe and the company's strong market presence in Norway.
|
|
|
|
|
|
Ryanair has reported that third quarter scheduled revenue increased almost 85% to €1.45 billion due to strong travel demand at higher fares (+14% over pre-COVID), especially during the October mid-term and the peak Christmas/New Year holiday season. Ancillary revenue delivered another solid performance, generating over €22.50 per passenger.
|
Total third-quarter revenue rose 57% to €2.31 billion while operating costs increased 36% to €2.15 billion driven by higher fuel costs (+52% to €0.90 billion, offset by improved fuel burn as more Gamechangers enter the fleet), crew pay restoration and 24% traffic growth. Ex-fuel operating costs rose by only 26%, marginally ahead of traffic and year to date unit costs (ex-fuel) are just €30 per passenger. Other income/expenses benefitted from a weaker US$ in the third quarter reversing H1’s negative currency charge.
|
|
While bookings continue to be closer-in than in spring 2020 (pre-COVID), the company has reasonable visibility for the remainder of the full year 2023, with full-year traffic guided at 168 million. Ryanair expects the fourth quarter to be loss making due to the absence of Easter from March.
|
|
|
|
|
|
|
|
click here to download the latest PDF edition
|
|
|
|
click here to download the latest PDF edition
|
click here to subscribe to our other free publications
|
|
AIRCRAFT & ENGINE MARKETPLACE
|
click here to view in PDF aircraft and engines available for sale and lease
|
|
|
|
|
|
|
|
|
|
Interested in advertising with AviTrader?
|
|
Vice President Sales & Business Development
|
|
|
|
|
