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LATEST NEWS
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Friday, February 24th, 2023
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Ohio-headquartered Flexjet, the global leader in subscription-based private aviation has announced that it has acquired Constant Aviation, which is also headquartered in Ohio. Constant Aviation is a leading provider of aircraft maintenance, repair and overhaul (MRO) services and with its acquisition, Flexjet becomes the only private aviation fleet provider which can offer such capabilities, while also providing Flexjet with the largest aviation maintenance support infrastructure in business aviation. As part of the deal, Flexjet will acquire Constant’s facilities at Cleveland Hopkins International Airport and Orlando Sanford (Florida) International Airport.
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The Flexjet fleet expanded by 40% in 2022, consequently creating additional demand for MRO services. Flexjet’s capabilities will now include complete airframe, engine and avionics maintenance capability, industry-leading paint and interior modification and refurbishment capability, and advanced in-house engineering and avionics installation. It will also offer heavy maintenance, engine and component overhaul, damage repair, composite and sheet metal repairs and non-destructive testing, plus parts support and distribution.
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Constant Aviation recently expanded its MRO capabilities beyond its portfolio of business jets and other fixed-wing aircraft to include rotorcraft such as helicopters, drones and other commercial Unmanned Aircraft Systems (UAS). Consequently, it will be able to support Flexjet’s new private helicopter division, which operates in the U.S. and in Europe.
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Satair, an Airbus Services company, and MRO provider SR Technics Malta, have signed a multi-year contract for Satair’s Integrated Material Services (IMS) solution; an integrated supply chain service to support SR Technics’ base maintenance activities on Airbus A320 aircraft.
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The service covers an initial expendable parts scope of thousands of part numbers comprising Airbus Proprietary Parts, Standard Hardware and Vendor Parts and is effective from April 2023. Satair’s IMS service offers an end-to-end supply chain solution that includes planning, sourcing, purchasing and logistics for covered expendables required in the aircraft maintenance lifecycle.
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IMS was introduced by Satair as a strategic initiative to respond to customers growing requirements for an integrated expendable inventory. This enables customers to focus on their core activities of operating and/or maintaining the aircraft. IMS is a flexible and customisable solution that is developed in close collaboration with the airline to create a true partnership. With IMS, Satair is directly involved in supporting aircraft availability, which goes well beyond a traditional customer-supplier relationship.
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Jean-Marc Lenz, CEO of SR Technics, says: “We are excited to expand our business relationship with Satair and look forward to continuing reaping the benefits of our long-term partnership in our daily operations and maintenance of A320 fleets.”
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AAR CORP. has released that Tracey Patterson has joined the company as Vice President and Chief Human Resources officer. In this position, Patterson will oversee global Human Resources, Communications and other functions.
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She joins AAR from Accenture, a publicly traded global professional services company, where she led the company’s Global HR Operations with a team of 10,000 and complex HR initiatives for Fortune 500 clients. As a seasoned executive, she brings over a decade of experience building world class HR organisations, employee experiences, innovative operations and data driven decision making. She holds a bachelor’s degree from Loyola University Chicago and a Master of Business Administration from Northwestern University’s Kellogg School of Management.
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“We are very excited about Tracey joining the AAR leadership team,” said John M. Holmes, AAR’s Chairman, President and CEO. “Tracey’s deep experience in workforce development, employee engagement, and continuous improvement will enable her to build on our comprehensive Human Resources strategy and position the company for future growth.”
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UK carrier Jet2.com has selected the new Series 9 Fixed Back seat from Acro Aircraft Seating for its fleet of new Airbus A321/A320neo aircraft. The contract, awarded after extensive international competition, sees Jet2.com become the first customer for the recently launched Series 9 seats. The seating will be installed on the company’s 98 firm ordered Airbus A321/A320neo aircraft, which could extend up to 146 aircraft.
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The Acro Series 9 is not only light weight, making the aircraft more efficient, but is supremely robust too. The seating combines creatively comfortable design with increased living space, such as extra leg room and space under the seat. Designed for both single and twin aisle, the Series 9 is build by the manufacturer as ‘the seat without compromise’, reducing operating costs for the airline, whilst achieving a class-leading passenger experience for customers travelling on a flight with Jet2.com or , Jet2holidays.
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Announcing the new contract, Neil Cairns, Acro’s CEO, says, “We’re obviously delighted at this early recognition for the exceptional attributes of Series 9, not least because the endorsement comes from an industry leader which shares our determination to provide optimum comfort and maximum living space even in today’s high-density cabins.
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“The Series 9 is the product of the inspired design and relentless innovation which go hand-in-hand at Acro, and our fresh thinking is firmly focused on delivering quantifiable benefits to our customers. The light weight of the sleek new Series 9 is an obvious advantage, but we have combined that with ultra-robust construction and low part count designed to reduce maintenance and facilitate quick turnaround sanitizing. The elegant contemporary lines of the Series 9 add to visual appeal while its space-creating comfort levels heighten passenger satisfaction. Once installed, we are confident that the Series 9 will support Jet2.com and Jet2holidays in its commitment to ‘create a VIP experience’ for its passengers.”
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The new contract reinforces a highly successful and longstanding business relationship, as Jet2.com was Acro’s launch customer back in 2008.
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ST Engineering has released that its Commercial Aerospace business and SF Airlines Co., (SF Airlines) have entered an agreement to set up a commercial airframe MRO joint venture in Ezhou, Hubei, China. MRO demand in China and the Asia Pacific region is estimated to increase at a compound annual growth rate of about 3% to 7% over the next decade according to industry forecasts. The strategic collaboration with an established freighter airline will allow ST Engineering to capture new and rising opportunities in a high-growth region.
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The joint venture, subject to regulatory approvals, will operate a greenfield airframe MRO facility at the Ezhou Huahu Airport which is designated as Hubei’s international logistics hub airport. With passenger and air cargo traffic growing steadily as China re-opens its flight connectivity, the joint venture will not only support the freighter MRO demands of SF Airlines, which is China’s largest freighter airline in fleet size, but also serve the increasing needs of other cargo and passenger airlines operating in the region.
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ST Engineering will have a majority 60% stake in the joint venture, with the remaining 40% to be held by SF Airlines. The joint venture company’s first facility is expected to be ready in 2025.
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Li Sheng, Chairman of SF Airlines, said, “The establishment of the MRO joint venture with ST Engineering, which is the largest airframe MRO provider in the world with over 45 years of experience in the industry, will make up for our airframe maintenance capability. Given the huge aircraft maintenance market in Ezhou hub, sincere cooperation with ST Engineering and strong support from the government, I have full confidence in the development of the joint venture.”
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ST Engineering is the world’s largest commercial airframe MRO provider by maintenance manhours, backed by a track record of over 17,000 commercial aircraft maintained and modified since 1990 and a global network of facilities in Asia Pacific, the U.S. and Europe. In China, ST Engineering currently operates airframe MRO facilities located at Guangzhou Baiyun International Airport and Shanghai Pudong International Airport, as well as an engine MRO facility in Xiamen.
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In 2022, Swissport International (Swissport) aggressively ramped up operations as large parts of the world emerged from the COVID-pandemic. The summer months were characterised by extreme spikes in travel demand that coincided with a dried-up labour market, global uncertainty over post-COVID travel regulations and an operational environment which was characterised by growing pains as global aviation struggled to get back on its feet.
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In 2022, Swissport accelerated its revenue growth on the back of a strong recovery of global aviation. The airport ground services division handled 3.3 million flights last year (2021: 2.0 million) and served 186 million passengers, almost double the number of travellers served a year prior (2021: 97 million). In the air cargo segment, Swissport handled 4.8 million metric tons in 2022 (2021: 5.1 million).
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Despite a challenging operational environment, Swissport realised strong growth. In the ground services segment, which includes check-in and gate services as well as ground movement of aircraft, baggage handling and services like aircraft de-icing, the number of aircraft turned increased to 3.3 million (2021: 2.0 million). The number of airline passengers served nearly doubled to 186 million in 2022 (2021: 97 million), reflecting the return of demand for international travel. In the cargo business, global supply chain issues, the war in the Ukraine and a tightening of monetary policy by leading central banks contributed to a slowdown. Regardless, Swissport handled a solid 4.8 million metric tonnes in 2022 after a record 5.1 million tonnes in 2021.
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In the current market environment, airlines increasingly focus on their core business. Many turn to Swissport when outsourcing ground services, and increasingly so for hub or large base operations. Since taking over its first hub operation in Zurich, Switzerland, some 20 years ago, Swissport has established itself as the preferred hub expert and airline partner with a steadily growing number of hubs and large bases in its global portfolio.
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Across its network of nearly 300 airports, Swissport recruited and qualified tens-of-thousands of new staff members in 2022. The company’s global workforce saw a seasonal peak of 54,000 people in summer 2022. That’s almost 30% more than at the end of 2021. At year-end 2022, Swissport employed 50,000 staff and is currently driving another broad recruitment initiative, to fill some 5,000 new positions before the peak travel season.
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Atlas Air Worldwide Holdings (Atlas Air) has reported full-year 2022 results, including net income of US$355.9 million, compared to a net income of US$493.3 million in 2021. On an adjusted basis, EBITDA totalled US$899.2 million in 2022 compared with US$1.1 billion in 2021. Adjusted net income in 2022 totalled US$418.0 million, compared to US$551.0 million in 2021.
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For the fourth-quarter Atlas Air reported that revenue grew to US$1.21 billion compared to US$1.16 billion in the prior-year quarter. Volumes in the fourth quarter of 2022 totalled 84,916 block hours compared with 91,985 in the fourth quarter of 2021.
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For the three months ended December 31, 2022, net income totalled US$126.0 million, compared to US$176.7 million in the fourth quarter of 2021.
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On an adjusted basis, EBITDA was US$286.8 million in the fourth quarter of 2022 compared with US$361.8 million in the fourth quarter of 2021. Adjusted net income in the fourth quarter of 2022 totalled US$153.1 million, compared to US$211.6 million in the prior-year period.
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Atlas Air's reported earnings in the fourth quarter of 2022 also included an effective income tax rate of 22.6%. On an adjusted basis, the results reflected an effective income tax rate of 21.1%.
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As previously announced, on August 4, 2022, Atlas Air Worldwide entered into a definitive agreement to be acquired by an investor group led by funds managed by affiliates of Apollo Global Management, Inc., together with investment affiliates of J.F. Lehman & Company, LLC and Hill City Capital LP. In light of this pending acquisition, Atlas Air Worldwide will not hold an earnings conference call or provide forward-looking guidance.
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The company is working to complete the transaction in the first quarter of 2023 and continues to make progress toward obtaining necessary approvals. At this time, Atlas Air is awaiting final approval from the U.S. Department of Transportation and has received all other required shareholder and regulatory approvals.
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