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LATEST NEWS
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Friday, February 17th, 2023
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Despite posting a pre-tax (EBT) loss of NOK 80 million for the fourth quarter of 2022, flag-carrying airline Norwegian Air Shuttle (Norwegian) has posted NOK 1,502 million EBIT operating profit for 2022. The company also delivered an operating loss for the fourth quarter of NOK 39 million. The quarter’s loss has been put down to reduced seasonal demand.
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Norwegian concluded the year with a cash position of NOK7.8 billion, while at year-end, the company’s fleet was comprised of 70 aircraft. In the fourth quarter of 2022, Norwegian had 4.6 million passengers, up from 3.1 million in the fourth quarter of 2021. Production (ASK) was 6.9 billion seat kilometres, while passenger traffic (RPK) was 5.7 billion seat kilometres. The load factor increased to 81.4% from 77.0% in the same period last year.
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To meet the anticipated strong demand going forward, the company has signed a Letter of Intent (LOI) for six Boeing 737 MAX 8 aircraft on lease from Air Lease Corporation (ALC) to be delivered ahead of the summer 2023 season. These leases will help to counteract delays from Boeing for other aircraft that were originally due for delivery this spring. For the upcoming summer season, Norwegian expects to operate a total fleet of 81 aircraft and has a positive outlook for 2023.
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“Our New Year’s sale campaign has exceeded all expectations with more than one million seats sold in only 14 days, a strong sign of the exciting year we have ahead of us," said its CEO, Geir Karlsen. (£1.00 = NOK 12.29 at time of publication.
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Textron Aviation has been awarded the Multi-Engine Training System (METS) contract by Naval Air Systems Command (NAVAIR) through a full and open competition.
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The contract award is for up to 64 King Air 260 aircraft, which will be known as the T-54A. The initial Lot I award will procure ten new Beechcraft King Air 260 commercial aircraft and associated support. Lot II and Lot III, if the options are exercised, would each procure up to 27 aircraft. Aircraft deliveries are planned from 2024 to 2026.
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The Beechcraft King Air 260 aircraft acquired under the METS contract will replace the Chief of Naval Air Training (CNATRA) fleet of T-44C Pegasus aircraft. The T-44C Pegasus aircraft is a variant of the twin-engine and pressurised Beechcraft King Air 90. The T-44 has been in service since 1977.
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METS specific capabilities include factory options for TACAN (Air to Air), angle of attack (AOA), V/UHF radio, digital audio system, engine trend monitoring, condition-based maintenance plus, observer/jump seat, passenger mission seats, and full-face oxygen masks.
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"The T-54A will include an updated avionics suite, automation qualities, and virtual reality and augmented reality devices to better prepare students for the advanced aircraft they will fly in the fleet." Capt. Holly Shoger, Naval Undergraduate Flight Training Systems Programme Office (PMA-273) programme manager commented.
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The King Air 260 METS aircraft will be delivered in a fully compliant, METS mission ready configuration from Textron Aviation’s King Air production line in Wichita, Kansas.
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The Air France-KLM Group has reported a positive net income for the full year 2022. Net income amounted to €728 million for the full year 2022, an increase of €4,020 million compared to last year. Revenue for the full year 2022 was up 84.4% compared to the previous year, a record level in the Group’s history, despite a difficult context. Revenue for Q4 2022 was up 47.3% compared to Q4 2021. This improvement was driven by an increase in capacity, load factor and passenger yield. The Air France-KLM Group posted a positive operating result of €1,193 million, up by €2,839 million
at a constant currency compared to last year. Full Year 2022 operating margin was 0.3 points higher than 2019 (4.2%).
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In 2022, Air France-KLM welcomed 83.3 million passengers which is 86.5% above previous year. As capacity increased by 44.2% and traffic grew by 104.6%, the load factor increased by 24.8 points compared to last year. Group passenger unit revenue per ASK increased by 51.6% against a constant currency compared to last year. This increase was driven by both load factor and yield. Group unit cost per ASK at constant fuel and constant currency is down 4.5% versus last year thanks to an increase in capacity and the Group’s ongoing transformation efforts.
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Boeing has signed agreements to purchase 5.6 million gallons (21.2 million litres) of blended sustainable aviation fuel (SAF) produced by Neste, a leading SAF producer, to support its U.S. commercial operations through 2023. These agreements more than double the company's SAF procurement from last year.
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"We are demonstrating our commitment to reduce our carbon footprint and catalyse the SAF industry," said Sheila Remes, Boeing Vice President of Environmental Sustainability. "This SAF procurement makes up 25% of Boeing's total jet fuel needs for last year including our production, delivery, Boeing ecoDemonstrator, and Dreamlifter flights and we aim to increase that portion in the years to come."
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The purchase agreements include supply of Neste MY Sustainable Aviation Fuel™ which is blended with conventional jet fuel at a 30/70 ratio to produce the blended SAF. Neste MY SAF is made from 100% renewable waste and residue raw materials, such as cooking oil and animal fat waste, and meets strict sustainability criteria.
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EPIC Fuels and Signature Aviation company will provide 2.3 million gallons and Avfuel will supply 300,000 gallons of this blended SAF for the Boeing ecoDemonstrator flight test programme and the company's commercial sites in Washington state and South Carolina. Boeing is also purchasing an additional three-million gallons of the same blended SAF from EPIC Fuels and Signature Aviation, generating emissions reduction credits for commercial deliveries, Dreamlifter and executive flights. These benefits are generated by a book-and-claim process that displaces petroleum jet fuel with SAF in fuelling systems outside the company's fuel supply.
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In 2021, Boeing committed to deliver its commercial airplanes capable and certified to fly on 100% SAF by 2030. SAF reduces CO2 emissions by as much as 80% over the fuel's life cycle with the potential to reach 100% in the future and is widely recognised as offering the greatest potential to decarbonise aviation over the next 20 to 30 years. Made from several feedstocks, SAF is certified for commercial use and can currently be blended up to 50% with traditional jet fuel without modifications to airplanes, engines or fuelling infrastructure.
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Aventure Aviation has significantly increased its inventory by acquiring seven Boeing 737NGs for teardown from WestJet Airlines. All seven aircraft, MSN 34284, 34285, 34286, 34287, 34288, 35111 and 35112, will undergo immediate teardown for parts. The first will take place in Marana, Arizona.
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"This major acquisition will provide a significant inventory increase for our global customer base," said Kevin Lang, Aventure's Director of Strategic Accounts.
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"We are constantly seeing new ways to support our global customer base, who trust us to provide quality parts on time with full traceability and recent shop work," said Andrew Crombie, Aventure's product line sales director. "This adds to 15 aircraft dismantled in recent months, providing our customers with the latest 737NG inventory."
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elfc has appointed Julian Jordan to the new role of Chief Commercial Officer (CCO). Jordan will be responsible for developing and executing elfc group’s global sales and leasing strategy across all commercial divisions. This will include new business growth, engine portfolio management and INAV engine material supply.
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During his time at elfc Jordan has held a variety of marketing and product development roles. In his most recent role as EVP & Head of New Business he has overseen US$2 billion of investment in spare engines for elfc’s global airline, OEM and MRO customer base over the past five years despite the headwinds created by the COVID-19 pandemic. Almost three quarters of this investment has been guided into the most fuel-efficient latest technology engine types.
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“Julian has been at the forefront of elfc’s portfolio renewal. He is a strong advocate for our ambitious environmental principles. As the elfc group now moves to the next level in our growth strategy it is vital that we have dynamic and responsible commercial leadership in place to drive our customer-centric ethos forward” said Tom Barrett, President & CEO.
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elfc (Engine Lease Finance Corporation) is a leading engine financing and leasing company. With headquarters in Shannon, Ireland, elfc group customers are additionally supported from various locations across Europe, North and Latin America, Singapore and China.
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AMETEK FMH has selected Wencor as its exclusive distributor supporting global military and government aftermarket. This agreement expands the partnership that Wencor and AMETEK SFMS previously announced in September 2022, and now includes the AMETEK flexible metal tubing, ducting, bellows, valves, filter assemblies and fuel boost pumps supporting key military platforms in the aerospace and defence market segments.
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“We are excited to partner with AMETEK and its market-leading offerings. Its diverse product portfolio and technical engineering capabilities, combined with our technical defence portfolio and value-added services will expand our opportunities into the defence market sector. Wencor prides itself in the ability to provide innovative solutions that enable reliability, material availability and cost efficiencies for our customers and this partnership will enhance these deliverables,” said Wencor President of Defence, Scott Herndon.
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Dan Ketchum, Vice President and Business Unit Manager of AMETEK FMH Aerospace / Pacific Design, noted, “This partnership allows us to effectively service the military aftermarket while expanding AMETEK’s focus on highly engineered technology solutions.”
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