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LATEST NEWS
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Tuesday, January 31st, 2023
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Having taken over from Warren East in January this year, Rolls-Royce’s new CEO, Tufan Erginbilgic has warned all staff at the FTSE-100 firm that it must change the way it operates if it is to have a future.
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In a global announcement Erginbilgic stated that: "Every investment we make, we destroy value. We under-perform every key competitor out there," adding that: “Rolls-Royce has not been performing for a long, long time, it has nothing to do with COVID, let's be very clear. COVID created a crisis, but the issue in hand has nothing to do with it. Given everything I know talking to investors, this is our last chance."
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The company achieved a revenue of £5.60 billion in the six months ended June 30 2022, up from £5.15 billion a year earlier. Unfortunately, that swung to a hefty pretax loss of £1.75 billion from a profit of £114 million. Rolls-Royce is a flagship UK company and is responsible for producing, among other things, jet engines for aircraft including the Airbus A350 and the Boeing 787 Dreamliner.
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However, analysts have frequently viewed the company as being less profitable than its North American rival General Electric in the aerospace sector. One of the problems facing Erginbilgic is that his predecessor had already executed a campaign of restructuring and asset sales, so these options are not exactly available today. Consequently, he has warned staff that they will need to "think differently, act differently, make a difference so this business corrects itself and we don't have much time".
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ITA Airways, one of the youngest European airlines, is the new Italian national carrier. ITA Airways serves an extensive domestic and international network via its two hubs Rome Fiumicino and Milan Linate. Now, the airline joins the Board of Airline Representatives in Germany (BARIG).
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“Germany is a strategic market for ITA Airways and we are proud to be a member of BARIG. From sustainability to fair competition, BARIG drives forward key issues in the aviation industry which are essential to our airline,” said Rodney Cali, Country Manager Germany at ITA Airways. “To ensure connectivity between Germany and Italy, ITA Airways offers 94 weekly flights from Frankfurt, Munich, Stuttgart, and Duesseldorf to its two hubs in Italy—Rome Fiumicino and Milan Linate—as well as further connections to the whole Italian network and to major international destinations.”
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Since the start of operations on October 15, 2021, with a fleet of 52 aircraft, ITA Airways has been pursuing a clear growth strategy. In 2023 alone, 39 new aircraft are scheduled to enter service while the range of intercontinental flights will be expanded with new routes to North and South America—from Rome Fiumicino to San Francisco, Washington, and Rio de Janeiro. Besides passenger services, ITA Airways focuses on air cargo transportation as well. Among other things, the airline is certified for temperature-controlled pharmaceutical transports according to the global IATA CEIV standard.
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Nordic Aviation Capital (NAC) has entered into an MOU with GE Aerospace to explore a CORSIA* compliant carbon offset programme that will allow NAC to offset carbon associated with its ferrying of aircraft and its direct
employee long-haul business travel. The signing of this MOU represents NAC’s commitment to driving a more sustainable business model.
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Brian Power, EVP Fleet Operations at NAC, said, “NAC is pleased to work with GE Aerospace on our first programme to offset carbon generated from our direct leasing operations.”
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Cristina Seda-Hoelle, General Manager of Regional & Business Aviation Engines and Services at GE Aerospace, said, “GE Aerospace looks to support its customers in helping meet their goals to be more sustainable and we are pleased to work with NAC to test this pilot programme.”
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*Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)
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The U.S. Air Force has awarded Boeing a US$2.3 billion contract for the ninth production lot of 15 KC-46A Pegasus tanker aircraft, expanding its fleet of the world’s most advanced multi-mission aerial refueler. To date, 128 KC-46A Pegasus are on contract with the U.S. Air Force, with 68 delivered and operationally deployed worldwide.
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The KC-46A Pegasus delivers crucial fuel and data for the fleet, as well as cargo, personnel and aeromedical transportation for joint force rapid mobility, global reach and agile combat employment.
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Last year, the U.S. Air Force Air Mobility Command approved the KC-46A for global operations including combat deployment. The Pegasus continues to demonstrate its agile combat employment capabilities, recently completing a 42-hour endurance flight supporting a U.S. Air Force Bomber Task Force mission in the Indo-Pacific region.
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During 2022, KC-46A aircraft operating in a series of U.S. Air Force global employment exercises in the European theatre, Indo-Pacific region and the Middle East performed at a greater than 95% mission capable rate, demonstrating the aircraft’s reliability and combat readiness.
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Boeing builds KC-46A aircraft on the 767 production line in Everett, Wash., supported by a supplier network of about 37,000 American workers employed by more than 650 businesses throughout more than 40 U.S. states. With Boeing’s in-line production, the KC-46A is designed and built as a tanker from day one — not a post-production conversion — making the Pegasus uniquely suited to integrate advanced technology for fleet data connectivity and combat-ready defensive features, as well as new capabilities as the needs of the mission evolve.
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Embraer has appointed Andreza de Souza Alberto, current Director of Operations at Embraer’s Gavião Peixoto (SP) unit, will be the new Vice President of People, ESG and Corporate Communications. The current VP of the area, Carlos Alberto Griner, announced in December his decision to leave the company. The change becomes effective on February 1, 2023.
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With 17 years of experience at Embraer, de Souza Alberto holds a degree in mechatronics engineering, with specialisation courses in management at Fundação Dom Cabral and governance at IBGC. At the company, she currently leads the Gavião Peixoto (SP) unit, which has more than 2,000 employees and is mainly dedicated to the production of defence aircraft and executive jets. Previously, she worked as a production manager and manufacturing engineering supervisor, with a strong focus on people management, safety and quality, process improvements and lean implementation.
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Field Aerospace (Field) has completed the Turkish Air Force KC-135 Block 45 modification, under a contract through the KC-135 Foreign Military Sales (FMS) programme office. The programme finished one year ahead of schedule.
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Türkiye is the second-largest operator of the KC-135 Stratotanker next to the USAF. The Block 45 modification removes the legacy autopilot system, flight director system, engine analogue gages and radio altimeter and installs a dual autopilot and flight director system, new radio altimeter system and new engine display. This effort included modifications to seven Turkish Air Force KC-135 Block 45 aircraft. This contract period of performance was from January 29, 2021 to January 28, 2024. Work was completed in December of 2022.
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Field had previously completed the prototype Block 45 modification on two United States Air Force (USAF) KC-135 aircraft and installed the modification on the first 15 Block 45 low-rate initial production (LRIP) aircraft.
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Regional Express, Rex, has reported that its unaudited management accounts for December have continued to show profitability for its domestic Boeing 737 jet operations, reporting a profit before tax (PBT) of AU$4.0 million improving from the AU$1.9 million in October and AU$2.8 million in November. This makes the fourth consecutive month that the domestic jet operations have been overall profitable since the jet operations resumed in February 2022.
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The regional Saab 340 operations were still loss-making at a PBT level in December, however, EBITDA for the month came in at AU$1.4 million making it the fourth consecutive month the regional operations have been cash-flow positive since COVID.
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The entire Rex Group showed an operational profit for the third consecutive month, with the underlying PBT for December coming in at AU$3.7 million, the highest since COVID. PBT for the months of October and November were AU$0.8 million and AU$3.1 million respectively.
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