SR Technics Holdings reported that 2004 operating earnings soared to CHF34 million ($27.7 million) from CHF8 million in 2003 on a 24% rise in sales to CHF1.17 billion. The MRO services provider said that the improvement came in the face of "a difficult market environment and the impact of a weak US dollar." Net loss narrowed to CHF2 million from CHF4 million. Operating cash flow rose 18% to CHF99 million, which enabled SR Technics to partly fund the CHF218 million acquisition of FLS Aerospace while also retiring "a significant amount" of long-term debt.
Boeing and Singapore Aircraft Leasing Enterprise finalized a previously announced sale agreement for 20 CFM56-7B-powered 737s, plus purchase rights for 20 additional aircraft. The order, which was first announced in March ( ATWOnline, March 23), is valued at $1.1 billion at list prices. Deliveries are expected to begin in late 2006 and extend through 2009. Boeing said the 737-800 is the baseline model SALE has specified but the agreement provides for conversions to the 737-700 or the proposed higher-capacity 737-900X.
Piedmont Aviation Component Services entered into an agreement to sell all of its ownership interest to Limco Airepair, a wholly owned subsidiary of TAT Technologies. According to Piedmont, Limco will continue to operate the company with the same name, facilities and people.
Onur Air regained rights to operate to the Netherlands, Germany, France and Switzerland after aviation authorities from the four countries jointly agreed to a gradual lifting of their ban against the carrier. "The decision is the result of intensive discussions with the Turkish authorities, which led to the engagement from the airline as well as from the authorities in question to put a corrective action plan in place to increase the safety of the flights," the French DGAC said in a statement.
Sigmar Aviation, an Ireland-based aviation recruitment and services company, is working with Boeing's Alteon training subsidiary to provide Alteon and Boeing customers with "a range of flexible personnel services to support airlines in startup, training, expansion and fleet transition."
Aircraft Management Technologies and the Massachusetts Institute of Technology's Lean Aerospace Initiative yesterday announced a collaborative effort to engage industry, airline and academic partners to establish the Lean Flight Initiative, the purpose of which is to develop and promote lean principles, practices and tools among aircraft operators and companies involved in facilitating airline operations.
SkyTeam offered to make Malev an associate member of the alliance but did not proffer a full partnership because the Hungarian airline had not met its standards, Air France President and COO Pierre-Henri Gourgoun told ATWOnline recently. On Tuesday, oneworld announced an MOU with Malev that should lead to the carrier's entering that alliance next year subject to its meeting membership criteria ( ATWOnline, May 25).
SAS Scandinavian Airlines' credit rating was downgraded yesterday from B1 to B2 for the company's Senior Implied Rating by Moody's Investor's Service. The downgrade is mainly a result of the present overcapacity in the Scandinavian aviation market. Moody's acknowledged that SAS Group has reduced costs successfully through Turnaround 2005 and that yields have stabilized in recent months, but it expects continued yield pressure in the short term. It also has a positive view on SAS Group's continued strong liquidity position and the ongoing program for capital releases.
Air New Zealand officially opened its new pilot training facility, which houses a 777 simulator, classrooms and computerized training equipment. The design of the complex allows for additional simulator halls in the future, one of which is already under construction to house Air Nelson's Q300 simulator. ANZ currently operates four flight simulators within a nearby facility that are used for pilot training on 737-300s/400s/500s, 767-200s, 747-400s and A320s.
The European Regions Airline Assn. maintained its attack on the EU's new passenger rights rules, denying European Commission claims that passenger complaints have risen tenfold since the rules' implementation in late February. ERA DG Mike Ambrose said the association has asked the EC numerous times to provide information about the complaints it has received, but the Commission has yet to do so. "The EC's accusations of a massive increase in complaints must be in doubt until it produces the evidence," he stated.
Aerosim-Mechtronix in partnership with Clairis Technologies signed an MOU with Airbus covering a license agreement allowing Aerosim-Mechtronix to integrate Airbus simulation software from the A320, A330 and A340 families into elements of its Integrated Training Architecture. Clairis will provide local support and engineering skills.
EasyJet will add more capacity to its new base at EuroAirport Basel-Mulhouse-Freiburg this summer with the introduction of three new routes. Daily services to Madrid and Hamburg will begin Aug. 11 and daily service to Malaga Aug. 12. The expansion will increase the total number of routes offered to 13, with four aircraft operating through the airport.
Barco said its cockpit display solutions have performed "excellently" during flight testing of the upgraded An-124-100M-150. Barco's 6x8-in. smart displays were built into the aircraft's cockpit by Russian system integrator Kotlin-Novator.
Servisair/GlobeGround will open a new Executive Lounge at Nottingham East Midlands Airport June 20 offering a number of services including a dedicated staff, a bar area with complimentary drinks, Internet access, telephones and fax machines and other perks. The company is offering an introductory price of £12 ($22) per visit.
Malev has taken the first step toward joining oneworld by signing an MOU with the alliance that provides "a framework for continued discussions" aimed at inviting the Hungarian carrier to become a full member in 2006, oneworld said yesterday. The agreement is subject to Malev's meeting a number of requirements, including confirmation that it can comply with the full service delivery specifications of the alliance, full quality and safety audits, and delivery of its new business plan.
A380, which completed its ninth test flight over the weekend, has exceeded its fuel burn goals, Airbus sources told ATWOnline. While coy on confirming the results, a spokesperson told this website that the aircraft is having a near-perfect flight test program. During the flights, some of which have lasted 8 hr., the A380 has been flown to an altitude of 43,000 ft. and at speeds up to Mach 0.89.
On the strength of last week's order for five units plus three options from Air France ( ATWOnline, May 20), Boeing yesterday formally launched the 777 Freighter proposed last fall. It is based on the 777-200LR, which currently is undergoing certification testing for EIS next year. The first 777F will be delivered to AF in the fourth quarter of 2008. It "will fly farther than any other freighter and will provide more capacity than any other twin-engine freighter," said Lars Andersen, VP and program manager.
SAS has begun offering wireless high-speed Internet access on all of its intercontinental flights. The airline has installed SAS Net Access service, provided by Connexion by Boeing, on all A340-300s and A330-300s it operates to the US and Asia. The service can be accessed from all 261 seats in business, Economy Flex and economy classes.
Northwest Airlines wants to lay off 2,840 of its 5,294 mechanics and related workers under a new contract proposal designed to achieve $176.2 million in annual savings, the Aircraft Mechanics Fraternal Assn. said in a message to members on its website. According to the union, the airline's latest proposal also calls for pay cuts ranging from 25.7% to 26.1% and reductions in benefits for the remaining 2,454 AMFA-represented employees.
Eurowings and its low-cost subsidiary Germanwings said results after tax for 2004 grew to €6.4 million ($8.1 million) from €900,000 the year before, while operating results totaled €14.8 million. Combined passenger traffic for the carriers increased around 23% to €6.5 million. CEO Friedrich-Wilhelm Weitholz told ATWOnline that Eurowings is in the middle of its biggest fleet transformation. "All 16 ATR turboprops will leave our fleet during 2005," he said, adding that most of them will be sold to FedEx.
Boeing in conjunction with ILFC delivered Air Austral's third leased 777-200ER. The carrier currently operates two 777-200ERs and leased the additional aircraft to meet increased passenger traffic on its routes from St. Denis to Paris and Marseille.
Global Aircraft Solutions through its wholly owned subsidiary Hamilton Aerospace Technologies signed new heavy maintenance contracts with two existing customers, Q Aviation and Falcon Air Express. Under the deals, GACF will perform C checks and associated maintenance on a 737-500 owned by Q Aviation and a 727-200 operated by Falcon Air Express. Together the contracts represent more than $1 million in new maintenance work for Hamilton Aerospace.
