FLUG REVUE update: Week ending September 2, 2001

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UPDATE

Week ending September 2, 2001

+++ Swissair disposals continue +++ Japan H-IIA launcher succeeds at last +++ EADS CASA sells C-295 to Poland +++ Ariane 4 launch succeeds+++ News in brief +++

Swissair disposals continue
Weitere Probleme für Swissair

On August 30, Swissair revealed its first half result. Group revenues grew by 8% versus the prior period reported figure from CHF 7,512 million to CHF 8,138 million. The net after tax Group result is negative, because of the additional provision for LTU, which drives the decline in equity from a restated CHF 716 million at 31 December 2000 to CHF 555 million at 30 June 2001.
As also announced in July, in order to reduce net debt and fund its exit costs from the minority airline participations, the Group has commenced a CHF 3bn disposal and asset refinancing programme, to be completed over the next 18 months. These measures target a reduction of net debt by CHF 2bn by the end of 2002, and by a further CHF 1bn by the end of 2003. The Group also announced that it was reviewing options to unlock the value for shareholders in some of its core businesses.
The Group will continue to repay all unsecured bank debt upon normal maturity. Nevertheless, the management of the Group's diverse body of lenders has been complex and time consuming. Therefore, the Group has decided to accelerate its target net debt reduction schedule. To achieve this acceleration in debt reduction and improve the equity position, the Group has decided to dispose of a majority stake in Swissport in 2001 and either its entire holding or a majority share in The Nuance Group in early 2002. These actions, which together with those already announced should total over CHF 4.5bn of disposals and asset financings over the next 18 months, will enhance the liquidity position of the Group and strengthen its equity base in a significant manner.

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Japan H-IIA launcher succeeds at last
Start der H IIA-Rakete in Japan

National Space Development Agency of Japan successfully launched the H-IIA Launch Vehicle No.1 (H-IIA/F1) at 4:00 p.m. on August 29, 2001, Japan Standard Time, from Tanegashima Space Center. The launch vehicle was successfully lifted off with its flight azimuth of 90 degrees. The H-IIA Launch Vehicle No.1 flied normally, and the second stage was successfully injected into the geostationary transfer orbit. The separation of the Laser Ranging Equipment (LRE) was confirmed about 39 minutes and 47 seconds after the lift-off. NASDA would like to send our deep appreciation for cooperation and support of all related personnel and organizations for the launch of the H-IIA Launch Vehicle No.1.

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EADS CASA sells C-295 to Poland
Polen bestellt C-295-Transporter

Aldona Kamela-Sowinska, Minister of Treasury, Bronislaw Komorowski, Minister of Defence, Hemryk Ogryczak, Deputy Minister of Economy of Poland and Alberto Fernández, Chairman and CEO of EADS CASA have signed in presence of the Minister, Chief of Chancellery of the Polish Prime Minister, Maciej Musial, a contract to purchase 8 aircraft CASA C-295 for the Polish Air Forces which will replace the old An-26. The total value of the contract is 212 million US-Dollars with deliveries starting in mid 2003 and ending up in 2005.
The final decision has been based on three questions. First, the fulfillment of the operational and commercial requirements of the Polish Airforces. Second, the confirmation that the bidder was willing to take part in the privatisation of the PLZ Warsaw Okecie, and finally, an industrial compensation programme really advantageous for the Polish aeronautical industry that fulfils all the requirements of its Government. The contenders versus the C-295 have been the C-27J aircraft from Italy and the An-32 from Ukraine.
The initial purchase of 51 percent of Okecie by EADS CASA means a great progress for the integration of the Polish industry in Europe. Okecie is an aeronautical company with more than 700 employees located near Warsaw airport with 75 years of tradition in light aircraft manufacturing. About this contract EADS CASA Chairman and CEO, Alberto Fernández has said: "This contract with the Polish Air Forces is a step forward in consolidating the CN-235 and C-295 family as medium transport leaders worldwide. It confirms, as well, that for the time being the CASA C-295 has been always selected versus its competitors".

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Ariane 4 launch succeed
Weiterer Ariane-4-Start

On 30 August 2001 Europe's Ariane-4 launcher added to its unbroken record of 62 successful launches by successfully placing into orbit an Intelsat 902 satellite. The launch took place from Europe's spaceport in Kourou, French Guiana. Flight 137 left on time at 03:46 local time (08:46 CEST). Separation of the boosters took place 2 m 30 s after liftoff, shortly followed by first stage burnout, separation and the ignition of the launcher's second stage. On board the Ariane 44L was the 4.8-tonne Intelsat 902 satellite, the second of Intelsat's new generation IX-series satellites to be placed into geostationary orbit. This is the 19th Ariane launch of an Intelsat satellite; the first took place 18 years ago in 1983, four years after the very first Ariane launcher was sent into space. The next Ariane-4 launch, programmed for 25 September, will launch Eutelsat's Atlantic Bird 2 satellite, while the next Ariane-5 mission is expected to take place before the end of the year.

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NEWS IN BRIEF / KURZMELDUNGEN

The Japanese Defense Agency announced it has selected Boeings AH64D as its new attack helicopter. Fuji Heavy Industries will produce the aircraft under license from Boeing. Fuji Heavy won the contract, defeating a consortium of Mitsubishi Heavy Industries and Mitsui & Co. which promoted a model made by Bell Helicopter Textron. The agency plans to buy 10 AH64Ds during the 2001-2005 medium-term defense buildup program to replace Bell Helicopter's AH-1S models. The purchase price has not been disclosed. The agency cited the winning helicopter's low price and economical maintenance costs as the reason for its selection. "With its sophisticated radar system, 60 AH64Ds can fly a mission that requires 80 of the competing helicopter," an agency official said.
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Turbomeca, a Snecma group Company, the firms Kamov and NPO Saturn have signed a MOU to power the Kamov helicopters Ka-226, Ka-115 and possibly other Kamov products with the ARRIUS 2G engine. It is also intended to co-produce the ARRIUS 2G in Russia. The ARRIUS engine is a turboshaft of the 500 to 800 shp class of the latest generation. More than 1000 ARRIUS have already been produced by Turbomeca and are flying with more than 150 operators in the world.
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Thanks to the cooperative efforts of all involved, Frankfurt Airport (airport code = FRA) has been able to handle necessary additional U.S. military transport flights temporarily during July and August - without any major disturbances. Fraport AG's Executive Board Chairman Dr. Wilhelm Bender explained how the experience of these weeks has demonstrated that there are still capacity reserves to be utilized in the entire complex FRA system, without affecting punctuality and quality. Because of the continuing demand from airlines for extra take-off and landing times, Fraport is moving ahead with procedures to increase FRA's so-called coordinated aircraft movements from the current 78 aircraft movements per hour to 80 per hour, by the spring of 2002. Depending on the aircraft mix, traffic operations, and weather conditions, this official traffic value is already clearly exceeded at times: last year's hourly record of 97 take-offs and landings was achieved on September 27, 2000. Due to construction work at Ramstein Air Base (west of FRA), the U.S. Air Force had to divert 25 to 30 flights per day to FRA between July 22 and August 13. Fears that the additional military flights would affect operations at Germany's largest airport proved to be unfounded, thanks to the smooth coordination between Fraport AG, DFS Deutsche Flugsicherung (responsible for air traffic control and navigation services in Germany) and the U.S. Air Force.
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Sabre Holdings Corporation the leading provider of technology, distribution and marketing services for the travel industry, and Lufthansa Cargo, the World's leading cargo airline, announced a partnership agreement to create a cargo revenue management solution based on the Sabre CargoMax revenue management system. According to terms of the multi-million dollar agreement, Sabre will develop an advanced origin & destination (O&D) revenue management solution for Lufthansa Cargo, covering overbooking control, bid price optimisation and automated queue handling. The CargoMax system enables air cargo companies to increase cargo profits through effective management of their cargo space. Computer models within the tool estimate the capacity for each departing flight and determine the most profitable allocation of space for various cargo products.
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A Spanish airliner crash-landed on the morning of August 29 near the airport in southern Spanish city Melaga, killing at least 3 while wounding 27 others. The CN-235 of the Spanish regional airline Binter Mediterraneo, crash-landed on a national highway some 200 meters from the Melaga airport after the pilot had requested a forced landing. The main body of the plane broke in half. Cause of the accident is under investigation. A source of the Spanish aviation authorities said the crashed plane was flying the Melilla-Melaga route. It carried 44 people including 3 crew members. One of the dead was a French national.
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Bombardier Aerospace announced that Japan Air Commuter Co., Ltd. has selected the Bombardier Q400 airliner for its YS-11 turboprop fleet replacement program. Under terms of the contract, Japan Air Commuter (JAC) has placed firm orders for five Bombardier Q400 aircraft, plus one option. Value of the firm ordered aircraft is $162 million Cdn ($105 million U.S.). Deliveries are scheduled to begin in the fourth quarter of 2002. Japan Air Commuter is a subsidiary of Japan Air System Co., Ltd. one of the country's major airline operators. It will become the fifth airline in Japan to operate Bombardier Q Series turboprops. The airline's Bombardier Q400 fleet will join Q100, Q200 and Q300 aircraft in the country in providing reliable and economic service on Japan's regional airline routes.
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Lockheed Martin has begun a joint test program with the U.S. Air Force and the U.S. Army to validate the C-130J-30 for paratroop airdrop operations. The tests are being conducted by the Airborne and Special Operations Test Directorate at Fort Bragg N.C. They are being flown out of Pope Air Force Base N.C., home of the 43rd Airlift Wing. This latest testing follows successful completion of airdrop testing with a fleet of three extended fuselage length, or "stretched," C-130J-30s at the Air Force Flight Test Center at Edwards AFB, Calif. These aircraft, which will be delivered to the Rhode Island Air National Guard later this year, are the first three C-130J-30s ordered by the Air Force. During the next several weeks the aircraft will drop up to 92 paratroops at a time to demonstrate the ability of the C-130J-30 to safely deploy paratroops from both sides of the aircraft. In addition, rapid ground evacuation of the aircraft with up to 128 troops will be carried out. Deployment of paratroopers at high altitude from each side door and the ramp of the aircraft was demonstrated during the Edwards AFB phase of testing.
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Residents of communities near airports may someday breathe an audible sigh of relief as a result of NASA tests using one of the world's largest wind tunnels to evaluate a variety of 'quiet' aircraft technologies. Aircraft are at their 'loudest' when landing gear, wing flaps and slats are deployed, creating large amounts of wind turbulence and generating lots of noise. Engineers at NASA Ames Research Center, in California's Silicon Valley, with support from NASA Langley Research Center, Hampton, Va., will use Ames' 40 x 80-foot (12.2 x 24.4-meter) subsonic wind tunnel to test design modifications that reduce aircraft noise on a 26 percent-scale model of a Boeing 777 aircraft. "This wind tunnel test is the culmination of eight years of work to make aircraft quieter during the time when the most noise is produced -- take-off and landing. This is the first time that all of these noise-control devices will be tested together. Each device works separately, but this test will determine how well they work together," said engineering lead Kevin James of NASA Ames.
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SABCA just delivered from its Brussels Plant to Fairchild Dornier the first Cockpit and Rear Fuselage Structures for the new Regional Jet 728JET. These structures are major parts of the fuselage that take advantage of the company's high level know-how. First flight is scheduled for March 2002, delivery to the launching customer, Lufthansa, occurring before the 2003 holidays. A longer version, the 928JET, capable of transporting 95 passengers, will follow 18 months later. Further developments foresee a shorter version for 55 passengers and an even longer one that will carry more than 110 passengers. SABCA has been a risk-sharing partner in this ambitious program since 1999 and has thus participated in its early developments. Today's deliveries are only the first of hundreds of production elements that will generate an important part of SABCA's turnover. Together with other successful programs (Airbus A330/340, A340-500/600, A380, Falcon Jets), the 728JET is one of the major steps of the expansion of SABCA's activities in the civil aircraft arena.
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On 25 August at 00:35 Moscow Time a launch crew of Russian Space Forces successfully launched a LV Proton-K with a military satellite Cosmos from Launch Pad #24 in Baikonur. The launch vehicle has been manufactured by Khrunichev Space Center. The recent launch is the third successful launch of Proton-K LV in this year. Besides, the successful maiden flight of Proton-M/Breeze-M took place on 7 April. The LV Proton has been developed by Khrunichev Space Center more than 30 years ago. Now it is one of the most reliable launch vehicles in the international market of launch services. More than 20 successful commercial launches with more than 40 Western satellites have been carried out since 1996.
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When a Russian Progress craft docked with the ISS on 23 August, it brought Europe's second scientific experiment to the space station. The Granada Crystal Box Experiment does not look very impressive from the outside: as its name suggests, it is a box, and quite a small one - just 13 cm by 13 by 8. On Earth, it weighs about a kilogramme. On the ISS, of course, it weighs nothing: which is precisely why it is there, and why it may help European scientists to make a few strides forward in molecular biology and drug design. Financed by ESA, the Crystallisation Box Experiment was designed and built by scientists at the Laboratorio de Estudios Cristalográficos of the University of Granada in Spain, and like the Advanced Protein Crystallisation Facility - brought to the station by shuttle mission STS-105 on 10 August - the equipment is designed to help unravel the structure of protein molecules.
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Spending a long time in a weightless environment has an impact on the human body, and evidence exists of changes to the bone and muscles of astronauts who have participated in long-duration missions in space. To cope with the requirements of long-stay missions aboard the International Space Station, the European Space Agency, together with the French space agency CNES and the Japanese space agency NASDA, are validating countermeasures through a preventive-medicine ground-based simulation that makes use of the bed rest model. The study runs over two periods of four months, one starting in August this year, the other in March next years. Each time, fourteen test subjects will lie in bed for a period of three months, to produce sufficient scientific data. The total duration of each campaign is 120 days: 90 days in strict -6* head down tilt, with a preparatory period of 15 days beforehand and a 15 day recovery phase after. Previous studies, where the inclination varied from 0 to -15*, have shown that the -6* position is the best for simulating the effects of the weightless environment of space. This is the first ever long-term bed rest study of such complexity and duration to be carried out in Europe. The main objective is to assess the changes to muscles and bone typically arising on long-duration space flight and evaluate methods of counteracting such changes. Additional experiments will also investigate the cardiovascular system and neuro-endocrine regulation of urine production, psychological behaviour and changes in the sleep-wake cycle. The study is also aimed at improving the medical aspects of healthcare for people afflicted with muscle and bone-wasting diseases.
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The successful F-22 Raptor live-fire test Aug. 22 completes one more objective toward operational deployment of the Air Force's newest fighter airplane. Testing, conducted as if the aircraft was in flight and had been hit by an anti-aircraft artillery round, was used to evaluate the structural design of the F-22, program officials here said. Computer-controlled hydraulic jacks pushed against the wings to simulate flight loads of a maneuvering airplane. A battery of jet engines blew high-velocity air across the wing and the fuel tanks were filled with fuel. Glenn Miller, deputy director of the F-22 System Program Office, said he was very pleased with the test. "The F-22 performed as we expected," Miller said. "We use these tests to confirm the ability of the F-22 to withstand combat-induced damage. Survivable designs mean reduced loss of aircraft and more importantly our pilots in combat."
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In response to recent Iraqi hostile threats against coalition aircraft monitoring the southern no-fly zone, Operation Southern Watch coalition aircraft used precision-guided weapons Aug. 28 to strike command and control sites in southern Iraq. Target battle damage assessment is ongoing. Coalition strikes in the no-fly zones are executed as a self-defense measure in response to Iraqi hostile threats and acts against coalition forces and their aircraft. If Iraq were to cease its threatening actions, coalition strikes would cease as well, U.S. Central Command officials said. The last coalition strike in the southern no-fly zone was against an Iraqi mobile early warning radar system Aug. 25. To date, there have been more than 1,010 separate incidents of Iraqi surface-to-air missile and anti-aircraft artillery fire directed against coalition aircraft since December 1998, including more than 375 in 2001. Iraqi aircraft violated the southern no-fly zone more than 160 times during the same period.
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CAE, the world's leading supplier of commercial Full Flight Simulators, announced approximately C$25 million in contracts (list prices) with Iberia. The Spanish airline has ordered an Airbus A340-300 Full Flight Simulator (FFS) and a major simulator upgrade for an MD 87/88 FFS. The simulator will be installed in Iberia's training facility in Madrid, Spain, in the summer of 2002. The state-of-the-art FFS will include a CAE Maxvue Plus visual system and will be certified to meet the JAR Std 1A Level D standard, the highest in Full Flight Simulator equipment.
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CAE announced that it has concluded the purchase of Netherlands-based Schreiner Aviation Training B.V. (SAT). CAE announced in May of this year that it had signed an agreement with Schreiner Luchtvaart Groep B.V. to acquire 100% of the outstanding shares of SAT, including all of SAT's training subsidiaries, for 193 million Euros (approximately C$260 million). With this acquisition, CAE will have a global network of nine aviation training centres around the world, in seven countries. CAE is the world's premier provider of simulation and control technologies for training and optimisation solutions in Aerospace, Defence and Forestry. Headquartered in Canada and operating globally, the company employs more than 7,000 people and has revenues in excess of C$1 billion.
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Brazilian aircraft manufacturer Embraer announced that Austria-based Rheintalflug has exercised one more option of the 50-seat aircraft ERJ 145. This is the fourth ERJ 145 acquired by the Austrian company and the delivery is scheduled for February 2002. With this purchase, Rheintalflug's firm orders rose to four aircraft, while maintaining four options in Embraer sales order book. Three ERJ 145s have been delivered to the Austrian airline company up to 31 July 2001. Rheintalflug's firm orders totals about US$ 72 million, the same amount of the options. Founded in 1973, Rheintalflug was acquired by Austrian Airlines in 2001. With head offices in Alternhein, the company currently operates flights to Vienna, Munich, Friedrichshafen, Cologne, Hamburg, Berlin, Stuttgart, Muenster and several charter services to Mediterranean vacation sites.
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Another successful test of the Arrow Weapon System was conducted at an Israel Air Force (IAF) test site. he test was a regular system test against a "Black Sparrow" target and was the ninth in a series. The target was launched from an IAF Aircraft toward the shores of Israel, to simulate an incoming ballistic missile. Initial results indicate that all components of the weapon system: the Green Pine radar, the Citron Tree fire control, and the Arrow missile preformed as planned. All the test objectives were achieved and the target was destroyed. The Arrow weapon system is deployed and operated by the Israel Air Force. It can intercept all types of Tactical Ballistic Missiles (TBM) threats existing in the region. Arrow was developed because of these existing threats.
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Northrop Grumman Corporation's Electronic Systems sector announced plans to consolidate most of its Southern California Navigation Systems Division operations into company-owned facilities in Woodland Hills. The Navigation Systems Division includes many of the advanced electronics businesses acquired by Northrop Grumman in April 2001 when it purchased Litton Industries Inc., including facilities in San Diego, Canada, Italy and Germany. By July 2002, the Navigation Systems Division will be headquartered and operate from a centralized Woodland Hills campus located at 21240 Burbank Blvd., and will maintain its San Diego and international facilities. Three former Litton facilities located in Agoura Hills, Goleta and Northridge will be consolidated, with all of the operations and many of the employees transferring to the Woodland Hills campus. The four facilities currently employ approximately 2,400 people. The division consolidation effort will result in a workforce reduction of approximately 500 employees, representing about 4.5 percent of Northrop Grumman's total workforce of approximately 11,000 in the State of California. The consolidation will take place in phases, beginning in September through July 2002.
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Compensatory trade benefits linked to procurement of the Gripen new-generation, supersonic, multi-role fighter will lead to a US$ 500 million boost for the regional economy in Northern Moravia, SAAB-BAE Systems, the Anglo-Swedish defense and aerospace partnership, announced in Ostrava. Speaking to an audience of local business people and civic leaders, Steve Mead, Gripen campaign director, explained that the economic benefits of selecting Gripen to meet the national, NATO and European defense needs of the Czech Republic had already started in the region. Linked to the procurement of Gripen, Northern Moravia, will receive 27 per cent of the benefits from a long-term national industrial partnership program that will deliver economic benefits amounting to 150 per cent of the total contract value to the Czech Republic over a 10 years period.
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The Defense Advanced Research Projects Agency (DARPA) announced the first-ever successful free flight of a hypersonic projectile powered by a supersonic combustion ramjet (scramjet) engine burning hydrocarbon fuel. The projectile is a four-inch diameter, 20-percent scale model of a conceptual missile. On July 26, GASL Inc., of Ronkonkoma, N.Y., fired the scramjet projectile out of a large gun at the Air Force's Arnold Engineering Development Center, Arnold AFB, Tenn. The test is an important step towards the realization of flight at hypersonic speeds. The test was the second of two successful launches, the first occurring on June 20. Together, these tests demonstrate that scramjet engines will provide enough thrust to power a free-flying vehicle. The tests used Arnold Engineering Development Center's two-stage light gas gun to accelerate the projectile to the flight condition through a 130-foot long gun barrel. The projectile experienced peak acceleration of approximately 10,000 Gs, and was launched from the gun at Mach 7.1.
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BAE Systems Aircraft Services Group announced that Angel Airlines, a new regional airline based in Bucharest, Romania, has signed a lease agreement for five Jetstream 32s plus the Material and Component Repair and Overhaul (MACRO) programme. The first aircraft, Serial Number 971, was delivered to the airline last week. The remaining four aircraft will be accepted by December 2001.
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Within the second week of August 2001, the contract for development and procurement of the Interim Training Device (ITD) was signed between the four-national Eurofighter customer agency NETMA and Eurofighter GmbH. ITD is a tool to primarily train service-instructor pilots but will also be used to support future operational aircrew transition to Eurofighter at the German Air Force Fighter Wing (Jagdgeschwader) JG 73 "Steinhoff" at Laage near Rostock. Responsibility for ITD as a fore-runner to the full mission training simulator ASTA (Aircrew Synthetic Training Aids) lies with EADS Military Aircraft, which will integrate and deliver the ITD system already in summer next year. First application will be at EADS Military Aircraft in Manching, for initial service-instructor training, with transfer to JG 73 together with the first batch of aircraft in 2003. The Eurofighter ITD for Luftwaffe comprises a fully functional cockpit facsimile equipped with MK16A ejection seat replica, HOTAS, rudder/brake pedals, and all multi-function head-up and head-down displays, control panels and switches. The simulation elements at delivery represent the complete Eurofighter aircraft models (flight, aero, mass, flight control system, sensors, engines etc.) and the avionics systems (e.g., CAPTOR radar and Infrared Search & Track Sensor/IRST, weapons) according to Production Service Package (PSP) 1 / 2 Standard and interact with each other.
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Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics, has delivered the first of five Gulfstream C-37A aircraft to the U.S. Air Force as part of a $477 million lease and support service agreement. The special mission C-37A aircraft departed Savannah International Airport July 25 for MacDill Air Force Base in Tampa, Florida, where it will be stationed. The C-37A, the U.S. military designation for the Gulfstream V, the world's first ultra-long range business jet, was piloted by Gen. Charles T. Robertson, commanding general, Transportation Command and Air Mobility Command.
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Vagn Sorensen, the former deputy chief executive of SAS, has been nominated CEO of Austrian Airlines. The full supervisory board of Austrian will discuss the nominatin on September 27.
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On August 30, Aerojet successfully test fired a full-scale, 67-foot demonstration solid rocket motor for 95 seconds at thrust levels ranging from 285,000 to 390,000 pounds of thrust. The motor, strapped horizontally to a massive test stand, burned nominally in this assessment of the performance, quality and processing of the solid propellant. Two more hot fire tests in the Lockheed Martin Atlas V launch vehicle configuration are scheduled for completion by early next year. "The test is a major milestone in the development of this new motor," said Mark Kaufman, Aerojet Atlas V program director. "This demonstrated that our design is sound and our manufacturing processes are in place for producing a monolithic solid rocket motor of this size. Verification of this technology paves the way for use of this motor on other space launch systems beginning with Lockheed Martin's Atlas V, which supports the U.S. Air Force EELV Program." This motor testing phase concludes more than two years of design and development work by a dedicated program team of scientists, engineers and specialists at Aerojet, and moves this important next generation U.S. launch vehicle closer to actual production. Medium-to-heavy-lift launch vehicles will be used primarily for launches of U.S. government missions as well as the commercial satellite market. Aerojet's advanced solid rocket motors will provide reliable, high-performance boosting power to help place these payloads into orbit.
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