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September 24, 2015
Boeing has reached deals with Chinese firms to sell 300 aircraft and open a completion centre in the Asian country, China’s official Xinhua news agency reported, as President Xi Jinping began his first state visit to the United States.
The order, which was not immediately confirmed by Boeing, demonstrates the vital importance of the massive Chinese market despite a growth slowdown in the world’s second largest economy that threatens to cut into the expansion of air travel.
September 24, 2015
Meggitt PLC (“Meggitt” or “the Group”), the leading international engineering group specialising in aerospace, defence and energy markets, has agreed to acquire the composites division of EDAC (“the Business”), formerly known as Parkway Aerospace & Defense, from Greenbriar Equity Group and other associated sellers for US$340 million in cash.
The Business produces highly engineered aerospace components for jet engine and airframe applications, with over 85% of revenues in civil aerospace composites. Key customers include GE, Snecma and United Technologies.
The Latvian national airline airBaltic has managed to attract a financial investor from Western Europe who is ready to invest about EUR 50 million in the company, reports LETA, according to Karlis Krastins, CEO of the investment banking and financial advisory company Prudentia.
A protocol of intentions has been signed so far. The investor’s name cannot be revealed due to confidentiality reasons.
The first A350 XWB for Finnair has completed its first flight in Toulouse. The aircraft will now enter the final production phase including further ground checks and flight tests. The aircraft is scheduled for delivery in the coming weeks.
Finnair will become the first airline in Europe to operate the A350 XWB and the third operator in the world. Finnair has acquired a total of 19 A350 XWBs and will operate its fleet on premium long haul routes, beginning with services between Helsinki and Shanghai.
Southwest Airlines announced a new tentative agreement with the Southwest Airlines Pilots’ Association (SWAPA), the Union that represents the Company’s Pilots. SWAPA’s Board of Directors reviewed an Agreement in Principle that negotiators reached earlier this month and decided to conduct a ratification vote that could end more than three years of negotiations.
The Company said the agreement offers wage increases and work-rule changes that will benefit the pilot group and position Southwest to continue its expansion both domestically and internationally.
Unarguably, aviation aftermarket today is a vital segment of the entire industry. Currently valued at over $28 billion dollars, it accounts for nearly half of the MRO market pie. Largely driven by the rapidly expanding global fleet, the development of spare parts market is now seen as a great area to squeeze some additional profit which is commonly scarce in the aviation industry. However, aftermarket is no place for amateurs. Even experienced players keep debating multiple issues the most important of which revolve around the pricing of parts.
June 12, 2015
May 29, 2015
One much discussed technology that has brought significant change into the aviation industry is definitely composites. For instance, they constitute, by weight, 53% of the Airbus A350XWB’s structure. As a result, apart from reduced weights, Airbus suggests the airliner will create just 40% of the corrosion-related inspection and maintenance burden of a traditional aluminum aircraft. However, when it comes to maintenance of such machines, MROs need to transform their product and service offerings substantially to qualify for this work, thus facing continuous challenges, especially in the area of maintenance training. (more…)
May 29, 2015
The Irish government is to sell its 25-percent stake in flag carrier Aer Lingus to International Airlines Group after receiving assurances on the airline’s future, the transport minister said. The proposed offer is valued at $2 billion. “The government has decided that it will support IAG’s proposal,” minister Paschal Donohoe said in a statement. The sale has been a hot topic for Dublin, with severe opposition within the junior government coalition party, Labour, and from unions who warned about implications for jobs and connectivity. (more…)
May 17, 2015
Embraer has released its 20-year Market Outlook for the North American market in which it forecasts 2,060 new jet deliveries in the 70 to 130-seat segment. It represents nearly 35% of the total worldwide demand for aircraft in this particular segment and is valued at US$ 96 billion at list prices. Some 47% of the region’s new deliveries are expected to support market growth while 53% will replace ageing aircraft that will be retiring by 2034. (more…)