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LATEST NEWS
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Monday, February 13th, 2023
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Leading global commercial aircraft lessor Jackson Square Aviation (JSA), based in both Los Angeles CA and Dublin, Ireland has released its operating results for the full year 2022.
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The company has successfully increased the size of its fleet through the addition of 13 new production aircraft under sale-and-leaseback or finance lease products. Beyond deploying nearly US$1 billion in new CapEx, the company also transitioned seven used aircraft to new and existing lessees, signed leases for its MAX 8 orderbook placements and sold six aircraft to new investors and lessor partners.
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JSA continued to grow its global team and upgrade internal focus on important areas of sustainability and DE&I. In 2022, the company’s sustainability committee completed its first JSA ESG strategy paper to guide its internal and external stakeholders on those key topics, while its LIFT committee continued to drive the company forward on its mission to make it the JSA team’s collective responsibility to build a diverse and inclusive culture.
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Summary of 2022 results: Net fleet growth: +7, aircraft acquisitions: +13, aircraft transitions to new and existing lessees: +7, number of leases signed: +61, Aircraft sales: 6, new customers: +5, CapEx: US$975 million and net headcount growth: +6. Brief asset overview: Fleet value (owned, committed, managed): US$11 billion, number of aircraft (owned, committed, managed): 250, average fleet age (owned): 4.9 years, percentage of single aisle aircraft: 78%, average lease term remaining (owned): 7.1 years and percentage of new-generation aircraft: 71%. (£1.00 = US$1.21 at time of publication).
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AFI KLM E&M and Nile Air, the young Egyptian airline, have signed a dedicated component support agreement for the airline’s fleet of six A320-200 aircraft. The solutions package designed by AFI KLM E&M will cover an extensive range of components, including various key models such as accessories and LRUs for CFM56-5B and IAE V2500 engines.
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AFI KLM E&M has a long history with the A320 aircraft, having developed extensive expertise in every aspect of this aircraft, notably in the field of component maintenance and repair. Given its Airline-MRO profile, it is able to capitalize on its dual technical and operational knowledge of the product in order to refine support services which align perfectly with the specific challenges and expectations of operators, in particular the need for optimal component availability.
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As such, in addition to repairs, the services provided to Nile Air will include access to a spare parts pool and the availability of a main base kit (MBK) within local reach of the customer’s facilities.
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The Hydrogen Consortium’s vision is to support the country to pioneer the commercial deployment of green hydrogen-powered aircraft.
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The partners are international aerospace leader Airbus, global green energy company Fortescue Future Industries (FFI), leading world airline Air New Zealand, next generation energy company Hiringa Energy, liquid hydrogen solution pioneers Fabrum and New Zealand’s Christchurch Airport.
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The Hydrogen Consortium was launched at Christchurch Airport, which is developing a 400-hectare renewable energy precinct called Kowhai Park.
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Airbus is working to develop and put into service the world’s first hydrogen-powered commercial passenger aircraft by 2035. In close cooperation with its partners, Airbus will factor in aviation’s requirement for hydrogen in New Zealand. Using its hydrogen hubs at airports concept, Airbus will engage with aviation and non-aviation players to perform a complete assessment of energy supply needs to enable the operation of hydrogen-powered aircraft.
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Over the next six months the partners will work together to design a hydrogen ecosystem for aviation in New Zealand. The first phase will focus on research, which will be completed by the end of 2023. The consortium will develop a vision for hydrogen aviation in New Zealand, examine the hydrogen supply chain and its challenges, assess the local aviation market’s projected hydrogen needs to 2050 and develop a pathway of policies, regulations and incentives to promote the development of hydrogen aviation.
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The second phase will focus on whether hydrogen aircraft test flights can be held in New Zealand. Air New Zealand has two ambitious goals – to fly its first commercial demonstrator flight from 2026 and begin replacing its Q300 Turboprop fleet from 2030 with low emission aircraft. The airline’s Chief Sustainability Officer Kiri Hannifin said the consortium’s work will be important to Air New Zealand achieving those ambitions.
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Vietnam Airlines and Singapore Airlines (SIA) have signed a Memorandum of Understanding (MoU) to strengthen the commercial collaboration between the two airlines.
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The carriers will initially explore opportunities for codeshare arrangements to facilitate better connectivity between Vietnam and Singapore. This could potentially be expanded to include other destinations that SIA serves. The two airlines will also explore other areas of commercial cooperation that could offer more value and options to their customers.
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Vietnam Airlines and Singapore Airlines have had a long-standing partnership for over 20 years. As international border restrictions eased in 2022, both airlines sought opportunities to expand their bilateral cooperation to provide quality service for their customers travelling between Vietnam and Singapore.
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With support from Safran Helicopter Engines, TotalEnergies and Airbus Helicopters, France’s defense procurement agency (Direction Générale de l’Armement - DGA) has carried out the first test flight of an NH90, during which one of its two RTM322 engines ran on sustainable aviation fuel (SAF). This fuel was produced by TotalEnergies from used cooking oil using HEFA (hydro processed esters and fatty acids) technology and has a carbon footprint four-times smaller than that of fossil fuel. As such it meets the European Union's 65% abatement requirement for sustainable fuels.
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This test flight took place on February 3, 2023, at the expertise and test centre DGA Essais en vol in Istres; it marks a first for a military helicopter with such high content of SAF and without any engine modification. The fuel meets the aviation industry's objective of accelerating decarbonisation without making any modifications to the aircraft, engine or logistics infrastructure (known as a drop-in fuel).
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In December 2022, a bench test at Safran Helicopter Engines' Bordes facility validated the use of this fuel on the RTM322.
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Safran Helicopter Engines is working to certify operations with 100% SAF, while assessing any operational impact with its partners and customers. When a 100% incorporation level is achieved, SAF offers a potential reduction in CO2 emissions of 80%.
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Spirit AeroSystems' revenue in the fourth quarter of 2022 was US$1.3 billion, up 23% from the same period of 2021. This increase was primarily due to higher production deliveries on the Boeing 737 programme as well as increased defence and space revenue. Overall deliveries increased to 343 shipsets during the fourth quarter of 2022 compared to 277 shipsets in the same period of 2021. This includes Boeing 737 deliveries of 81 shipsets compared to 51 shipsets in the same period of the prior year.
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Spirit’s full-year 2022 revenue was US$5.0 billion, up 27% from 2021. This increase was primarily due to higher production deliveries on the Boeing 737 and Airbus A320 and A220 programmes, as well as increased aftermarket and defence and space revenue, partially offset by lower production deliveries on the Boeing 747 and 787 programmes. Overall deliveries increased to 1,297 shipsets during 2022 compared to 1,022 shipsets in 2021. This includes Boeing 737 deliveries of 281 shipsets compared to 162 shipsets in the prior year.
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Spirit’s backlog at the end of the fourth quarter of 2022 was approximately US$37 billion, which includes work packages on all commercial platforms in the Airbus and Boeing backlog.
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Operating loss for the fourth quarter of 2022 was US$138.8 million, compared to operating loss of US$79.0 million in the same period of 2021. The greater operating loss was primarily driven by higher changes in estimates during the fourth quarter of 2022 as well as the absence of income related to the Aviation Manufacturing Jobs Protection (AMJP) Programme that was recognized in the fourth quarter of 2021, partially offset by higher production volumes on the Boeing 737 programme.
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Operating loss for the full year of 2022 was US$281.2 million, compared to operating loss of US$459.2 million in 2021. This improvement was primarily driven by higher production on the Boeing 737 programme and lower excess capacity costs in 2022 compared to the prior year.
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Nasmyth has appointed John Rooney as its new Chief Operating Officer. Rooney has a wealth of experience in the aerospace industry, having held senior operational positions at Hampson Aerospace and more recently at Gardner Aerospace.
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Tony Upton, Chief Executive Officer, said: “John will be instrumental in implementing Nasmyth’s manufacturing strategy as we continue our growth journey.”
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Nasmyth continues to grow its precision engineering and metal treatment capabilities, in support of both OE production and aftermarket operations, across its nine sites.
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