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LATEST NEWS
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Monday, September 26th, 2022
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American planemaker Boeing Co. together with its former CEO Denis Muilenburg have agreed to pay the American Securities and Exchange Commission (SEV) a fine of US$200 million for having misled the public over the two fatal crashes of its 737 MAX jet.
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The SEC has alleged that both Boeing and Muilenburg knew that there was a problem with the flight control system after the first crash involving a Lion Air jet which resulted in the death of 189 passengers and crew, and that it represented an ongoing concern. Despite this, they made it clear that as far as they were concerned, the plane was safe to fly. However, after the second crash in March 2019 involving an Ethiopian Airlines MAX jet, the SEC has also alleged that both Boeing and Muilenburg knowingly misled the public about “slips” and “gaps” in the certification process of that flight control system.
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“In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets,” said SEC Chair Gary Gensler in a statement reported by Reuters news agency. “The Boeing Company and its former CEO, Dennis Muilenburg, failed in this most basic obligation. They misled investors by providing assurances about the safety of the 737 MAX, despite knowing about serious safety concerns.”
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In a statement, Boeing said that the settlement “fully resolves the SEC’s previously disclosed inquiry into matters relating to the 737 MAX accidents.” The company and Muilenburg agreed to settle charges of violating the antifraud provisions of U.S. securities laws, but they did not admit or deny the SEC’s allegations. Boeing agreed to pay a US$200 million settlement and Muilenburg agreed to pay US$1 million.
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According to Gurbir Grewal, director of the SEC’s Enforcement Division, “Boeing and Muilenburg put profits over people by misleading investors about the safety of the 737 Max all in an effort to rehabilitate Boeing’s image following two tragic accidents that resulted in the loss of 346 lives and incalculable grief to so many families.” (£1.00 = US$1.09 at time of publication).
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Safran Nacelles has been selected by Spring Airlines for the support of the nacelles of its Airbus A320neo equipped with CFM International LEAP-1A engines over a period of three years.
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Spring Airlines will have access to Safran Nacelles’ shared pool of nacelles end-items. The Chinese airline will also benefit from OEM-guaranteed maintenance, repair and overhaul solutions at Safran Nacelles new repair station in Suzhou, China.
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These contracts are carried out as part of the NacelleLife™ support and services packages, which cover all Safran Nacelles' after-sales activities and aims to provide a responsive, reliable, cost effective and high-quality service.
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JetBlue has announced plans to bolster its transition to sustainable aviation fuel (SAF) with a new agreement with AIR COMPANY, an innovative carbon technology company creating carbon-negative alcohols and fuels from carbon dioxide (CO2). AIR COMPANY has developed and deployed a single-step process for CO2-derived fuel production using renewable electricity to create its novel AIRMADE™ sustainable aviation fuel (SAF) product. JetBlue’s memorandum of understanding (MOU) with AIR COMPANY comes on the heels of a direct capital investment into AIR COMPANY’s Series A funding round from JetBlue’s venture capital subsidiary, JetBlue Ventures.
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With this commitment, JetBlue announces its intent to purchase 25 million gallons of AIRMADE™ SAF over five years, with a targeted start in 2027. AIR COMPANY joins JetBlue’s growing list of SAF partnerships as it advances its goal to convert 10% of its total fuel usage to SAF on a blended basis by 2030.
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The Qantas Group has appointed Stephanie Tully as the new Chief Executive Officer of Jetstar. This follows the announcement in June that current Jetstar CEO, Gareth Evans, will leave his role by the end of 2022.
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Tully joined the national carrier in 2004 and has worked across operational, commercial, marketing and customer loyalty functions in progressively more senior roles. She has been a Group Executive and Chief Customer Officer since 2019.
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As a result of this appointment, Markus Svensson will be promoted to the Chief Customer Officer role and become a member of the Group Executive Committee reporting to the Group CEO.
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Svensson is currently the Executive Manager of Network, Revenue Management and Alliances, responsible for overseeing a large part of the commercial strategy for Qantas International and Qantas Domestic. He was previously Regional General Manager for Qantas in the UK, Europe and the Middle East. Before joining Qantas in 2011, he held senior roles at Bain and Co and in telecommunications in Australia, Sweden and Korea.
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Tully and Svensson will begin transitioning to their new roles shortly with detailed handovers made possible by the internal succession, ahead of a formal handover in November.
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ATR, the regional aircraft manufacturer and Toki Air, a new Japanese airline, have signed a global maintenance agreement (GMA) for the operation of its two leased ATR 72-600 aircraft due to start in 2023. Toki Air, the fourth ATR operator in Japan, aims to deploy its services to revitalise Niigata city by increasing connections within and between surrounding regions, linking communities and supporting growth in a responsible way.
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The Japanese airline will ensure reliability of its new operations by benefiting from a ten year ATR GMA contract which covers onsite stock, line replaceable unit pool exchange service, line replaceable unit repair service, propeller blades and landing gears.
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Masaki Hasegawa, Representative Director of Toki Air, said: “Starting our operations with ATR aircraft covered by the ATR GMA means that we will be able to offer a responsible and reliable air connection to communities of Niigata and the surrounding regions. Selecting the ATR GMA ensures that we will benefit from the manufacturer’s expertise and we have the right infrastructure in place to optimise our operations. The availability and depth of support offered by the GMA makes it the best option available for ATR operators and the right choice for us.”
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The French Navy has taken delivery of the first of six H160s that will perform search and rescue (SAR) missions. The aircraft is part of the interim fleet that will be delivered by the partnership formed between Airbus Helicopters, Babcock and Safran Helicopter Engines.
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In 2020 the French Armament General Directorate (DGA) signed a contract with Airbus Helicopters, Babcock and Safran for the delivery of four H160s in a search and rescue (SAR) configuration. In 2021, the DGA confirmed an option for two more H160s. The first H160 for the French Navy was delivered to Babcock by Airbus Helicopters in May 2022. It has since then been modified into a light military configuration by Babcock. The modular cabin was also adapted for SAR operations and a Safran Euroflir 410 electro optical system was integrated.
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In late 2020, Air Premia joined the community of AFI KLM E&M customers operating Boeing 787 aircraft, establishing a long-term partnership via a component support service package for its fleet of Boeing 787-9s (eventually set to total ten aircraft). Owing to industry delays in the delivery of these new aircraft, the South Korean airline decided to lease two 787-9s from Aergo Capital, soon to be integrated into its fleet. Therefore, AFI KLM E&M and Air Premia have announced the extension of their partnership, adjoining these two aircraft to the component support agreement concluded between the two groups.
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The scope of services provided by AFI KLM E&M remains unchanged and covers repairs, logistical support, provision of spare parts and access to the Prognos® predictive maintenance tool. AFI KLM E&M was able to rapidly adjust its commercial offer in order to take into account these two mature, “remarketed” aircraft.
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