All air transport news – Page 292
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News
Max absence has propped up 737-800 values and utilisation rates: Ascend
Although the grounding of the 737 Max has been a disaster for Boeing, its absence has had the effect of propping up utilisation levals and values for the earlier-generation 737-800.
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Boeing sticks to 2022 777X delivery goal as CEO warns of schedule ‘risk’
Though Boeing continues working toward delivering the first 777-9 in 2022, the company’s chief executive has warned about potential further changes to the timeline.
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Finance minister castigated as state bails out SAA
South African Airways is to be allocated R10.5 billion ($642 million) to implement its business rescue plan, the country’s finance minister has disclosed in a speech to parliament. Tito Mboweni outlined the funding in a medium-term budget policy statement on 28 October. He said that R10.5 billion would be assigned ...
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Boeing sees nine-month losses balloon to $3.5 billion
Boeing lost $466 million in the third quarter of 2020, bringing the company’s losses in the first nine months of 2020 to $3.5 billion.
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Third-quarter profits tumble at GE Aviation on sliding engine sales and aftermarket work
GE Aviation saw third-quarter operating profit plunge by 79% year on year, to $356 million, amid tumbling demand for aircraft engines and aftermarket services.
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Boeing aims for nearly 20% staff cuts by end-2021
Boeing anticipates finishing 2021 with 130,000 employees, roughly 19% fewer than the 161,100 it had in 2019.
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Finnair ratchets up long-term savings as nine-month loss reaches €450m
Finnair is again hiking its target for permanent cost savings from 2022, raising it to €140 million ($165 million) from the previous level of €100 million. It had already increased the target in August, lifting it from the original figure of €80 million. The Nordic carrier disclosed the change as ...
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More aircraft production rate cuts coming? Perhaps, analysts say
Some financial analysts suspect airframers might further cut aircraft production in 2021 owing to the depth of the pandemic-driven aerospace downturn.
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In depth
CAE to help aspiring pilots fund their training
Scheme to give less-well-off candidates a route to the cockpit could help with supply once demand returns.
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In depth
Why is flightcrew training failing so many?
Regardless of the current crisis, many would-be commercial pilots lack the aptitude to get an airline job. One aviation veteran believes changes to the system are needed – in Europe at least – before the sector starts to recruit again.
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News
P&W ships more commercial engines in Q3, eyes lower-cost production in Asheville
Pratt & Whitney shipped 114 large commercial aircraft engines in the third quarter of 2020, up slightly from the previous period.
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Turkish Airlines agrees amended delivery schedule for Airbus orders
Turkish Airlines has undertaken a restructuring of its fleet plans, agreeing with Airbus to reschedule a number of deliveries. The carrier adds that it has “adapted the overall outstanding orders”, taking into account operational and financial positions, to ensure a “solid basis” for the airline’s future. Turkish Airlines has not ...
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Raytheon turns third-quarter profit amid layoffs and depressed aftermarket demand
Raytheon Technologies’ commercial aerospace businesses continued to struggle in the third quarter of 2020, though the company’s Collins Aerospace unit did swing to an operating profit.
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News
Icelandair to withdraw and part-out batch of 757-200s
Icelandair Group is planning to retire four Boeing 757-200s over the next few weeks, which will be placed with part-out schemes. The company says some of the components will be cannibalised for its remaining 757s while others will be sold. Icelandair Group says the retirement is part of its broader ...
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News
EasyJet enters leaseback agreements for nine more A320s
UK budget carrier EasyJet has agreed several sale-and-leaseback arrangements, covering nine aircraft and generating nearly $400 million to enhance its liquidity. The airline has sealed a transaction involving five Airbus A320s with Irish-based Wilmington Trust SP Services. EasyJet says this agreement, centred on leases averaging 117 months, will generate proceeds ...
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Icelandair uses Boeing compensation to offset new 737 Max expenditure
Icelandair Group is expecting to take delivery of three more Boeing 737 Max jets in the first half of 2021, and has reclassified part of the compensation received for the Max grounding as reduced capital expenditure on them. The company has not disclosed the scale of the compensation settlement reached ...
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News
China to sanction Boeing Defense, Raytheon and Lockheed Martin over Taiwan weapons sale
China plans to sanction Boeing Defense, Raytheon and Lockheed Martin over a possible $1.8 billion Foreign Military Sales package for Taiwan.
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News
De Havilland delivers another two Dash 8-400s to Ethiopian
De Havilland Canada has delivered another two Dash 8-400s to Ethiopian Airlines, bringing to 30 the number of the turboprops received by Ethiopian and its affiliates.
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News
Russian budget proposal cuts near-term subsidy for CR929
Russia’s government is proposing heavily reduced near-term budget allocations for the joint Russian-Chinese long-haul aircraft project, as part of a broad review of state aviation strategy funding. United Aircraft and Chinese aerospace firm Comac have been working to develop the CRAIC CR929, a 280-seat twin-engined widebody jet. The legislative proposal ...
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News
Spirit slashes Bombardier aerostructures acquisition price
Spirit AeroSystems has almost halved the cash sum it is paying for Bombardier’s aerostructures business after the pair agreed a last-minute change to their deal.