+++ US Airways increases offer for Delta +++ Sikorsky to acquire PZL Mielec +++ Lufthansa posts passenger record in 2006 +++ First NH90 for Norway flies +++ Air Asia orders 50 more A320s +++ News in brief +++
US Airways increases offer for Delta
Delta weiter im Visier von US Airways
On 10 January, the US Airways Group announced that it has increased its offer to merge with Delta Air Lines. Under the revised proposal: Delta's unsecured creditors would receive $5.0 billion in cash and 89.5 million shares of US Airways stock. When applying the same valuation methodology and assumptions as described in Delta's Disclosure Statement, US Airways' advisor Citigroup estimates this new proposal will provide between $12.7 and 15.4 billion in value to Delta's unsecured creditors, which represents a significant premium over the $9.4 to 12.0 billion valuation that Delta places on its stand-alone plan. Based on the closing price of US Airways stock as of Tuesday, Jan. 9, 2007, the new proposal has a current market value of approximately $10.2 billion. The merger is expected to be accretive to US Airways' earnings per share in the first full year after completion of the merger. The increased offer is set to expire on Feb. 1, 2007 unless there is affirmative creditor support for commencement of due diligence, making the required filings under Hart-Scott-Rodino, as well as the postponement of Delta's hearing on its Disclosure Statement scheduled for Feb. 7, 2007.
US Airways has committed financing from Citigroup and Morgan Stanley for the proposed transaction for $8.2 billion, representing $5.0 billion to fund the cash portion of the offer and $3.2 billion in refinancing existing obligations at both US Airways and Delta.
US Airways Chairman and Chief Executive Officer Doug Parker stated, “While our original proposal offered substantially more value to Delta's unsecured creditors than the Delta stand-alone plan, we are making this revised offer to eliminate any doubt that a merger with US Airways offers Delta's unsecured creditors significantly more value. Without the support of the creditors, our offer is set to expire on Feb. 1. It is time for this process to move forward. We continue to believe that this is the right time to create a better airline that provides more choice to consumers, increased job security for both airlines' employees and generates more value for all of our stakeholders.”
The revised US Airways proposal retains the same conditions as the original offer and is conditioned on satisfactory completion of a due diligence investigation, which the Company believes can be completed expeditiously, approval by Delta's Bankruptcy Court of a mutually agreeable plan of reorganization that would be predicated upon the merger, regulatory approvals, and the approval of the shareholders of US Airways. Citigroup Corporate and Investment Banking is acting as financial advisor to US Airways, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as primary legal counsel, with Fried, Frank, Harris, Shriver & Jacobson LLP as lead antitrust counsel to US Airways.
In response to the announcement by US Airways of its revised offer to purchase Delta Air Lines, Inc. the Unofficial Committee of Unsecured Claimholders of Delta Air Lines, Inc. called upon the company to provide thoughtful and unbiased consideration to US Airways' enhanced offer. The Unofficial Committee believes that it is in the best interests of Delta and its stakeholders for Delta to immediately take the following steps: 1. Provide reasonable and customary access for US Airways to perform its due diligence in a manner consistent with similar transactions. 2. Fully cooperate with US Airways to make the required filings under HSR. 3. Postpone Delta's Disclosure Statement hearing currently scheduled for February 7, 2007 to allow Delta to fully evaluate US Airways' proposal. 4. Include the active participation and input of the Unofficial Committee's advisors with respect to the US Airways' proposal and other strategic alternatives. 5. Desist from taking actions intended to deter other companies from proposing transactions with Delta that may result in greater creditor recoveries than under a stand-alone Chapter 11 plan.
On its face, the revised offer by US Airways represents a substantial increase from its prior bid, and, more importantly, represents a significant premium to the valuation Delta itself places on its stand-alone plan. The increased US Airways' offer merits Delta's careful attention at this time in keeping with the board's fiduciary duty to maximize value for Delta's stakeholders, including members of the Unofficial Committee.
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Sikorsky to acquire PZL Mielec
US-Hersteller kauft sich in Polen ein
Sikorsky has agreed to acquire aircraft maker PZL Mielec from the Polish government. Sikorsky Aircraft is a subsidiary of United Technologies Corp. (NYSE:UTX), of Hartford, Connecticut, USA. PZL Mielec will form the foundation of Sikorsky's European operations. Sikorsky and the Polish government announced the contract during a ceremony in Warsaw. "Sikorsky has taken a major step toward becoming a leading member of the European aerospace community," said Jeffrey Pino, Sikorsky's president. "This acquisition brings together two pioneering aerospace companies. Together, we will build on each others' strengths to create a world class aircraft manufacturer and service provider drawing upon Poland's great aerospace heritage and expertise."
Under the agreement Sikorsky will acquire a 100 percent stake in the company, which is based in the city of Mielec. The transaction is subject to regulatory approval and pre-closing conditions. PZL Mielec is Poland's largest fixed wing aircraft manufacturer with approximately 1,500 employees. The company is wholly owned by the Industrial Development Agency (known by the Polish acronym ARP), which is a government holding company under the Ministry of Treasury. "This investment establishes PZL Mielec as a key component of Sikorsky's long-range global strategy to meet worldwide demand for its products and services," Pino said. In 2006 Sikorsky announced plans to develop an International BLACK HAWK helicopter variant for global customers that would be manufactured using a global supply chain. Upon completion of this acquisition Sikorsky plans to aggressively modernize the factory and tooling at PZL Mielec to support International BLACK HAWK production and continue the current capability for aircraft design, manufacture, flight test and delivery.
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Lufthansa posts passenger record in 2006
Passagierrekord für Lufthansa
Lufthansa turned in another record year in 2006. The number of passengers and of operated flights as well as capacity and sales all ended the year at an all-time high. In 2006, the airlines in the Group carried 53.4 million passengers, an increase on the year-earlier level of 4.2 per cent. Sales rose by 2.0 per cent on an increase of 1.8 per cent in capacity. The passenger load factor was up accordingly by 0.2 percentage points to 75.2 per cent. The Group posted above-average growth at the end of the year. Passenger numbers in December boosted by the mild winter weather climbed year-on-year in the month by 6.9 per cent. The seat load factor rose by 1.4 percentage points. Lufthansa Cargo carried 1.76 million tonnes of freight and mail in 2006, an increase of 1.3 per cent. Sales rose on slightly reduced capacity by 3.5 per cent, with the result that the cargo load factor grew by 2.7 percentage points to 67.7 per cent. Overall utilisation of capacity on passenger and cargo aircraft was up by 1.4 percentage points to 72.1 per cent. The number of flights operated by the airline also reached a new peak in 2006. During the year, aircraft bearing the crane emblem took off and landed safely 664,382 times at one or other of the 200 or so destinations in the Lufthansa route network.
“These figures underscore the success of the strategy we are pursuing,“ noted the Chairman of the Executive Board and CEO, Wolfgang Mayrhuber. “They speak volumes for our product, our sales performance, capacity management and service.“ The Lufthansa Chairman emphasised the airline's determination to continue on the growth path in the future. “But to do that, internationally competitive structures need to be created and entrenched. Only in that way can we develop in line with market demand and generate positive impulses for the air traffic base in Germany.”
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First NH90 for Norway flies
Erstflug des norwegischen NFH
The first Norwegian NH90 - NATO Frigate Helicopter version (NFH) wearing the Customer designation NNWN #01 took off at 03:40 p.m. on 20th December from Vergiate (Italy), the AgustaWestland's facility. This flight lasted about 25 minutes away from the airfield. Crew reports: “After the take off, we started to check the aircraft with simple manoeuvres in hovering, as usual for each first flight. Then, we were so confident of the machine that we decided to fly away for some checks at higher speeds. We were up to 140 knots without encountering any unexpected behaviour. As a conclusion, the first flight can be considered more than successful.” Norwegian Customer, formally invited to attend the event, was very excited and interpreted this as a very positive signal for the whole Norwegian programme. Industry Teams involved in the NH90 NFH Programme were grateful to receive the Customer's congratulations for this milestone achievement. NHIndustries has closed the year with a total of 88 NH90 sold in 2006.
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Air Asia orders 50 more A320s
Neuer A320-Auftrag von Air Asia
AirAsia, the region's largest low cost carrier, has placed a firm order for an additional 50 A320s, with a further 50 A320s on option. The contract was signed on the 8th of January 2007 by Tony Fernandes, Group Chief Executive Officer of AirAsia and John Leahy, Chief Operating Officer Customers of Airbus, and brings the AirAsia Group's (Malaysia AirAsia, Thai AirAsia and Indonesia AirAsia) total orders to 150 aircraft, plus 50 options and, in doing so, makes it one of Airbus' largest customers for the aircraft type. AirAsia placed its original order for 60 A320s in March 2005, with a re-order for an additional 40 aircraft announced at the Farnborough Airshow in July 2006. The airline currently operates a fleet of 15 A320s on a rapidly expanding domestic and regional network. The A320s are steadily replacing AirAsia's old generation Boeing 737 fleet and are destined to do the same at Thai AirAsia and Indonesia AirAsia in 2007 and 2008, respectively. AirAsia's Kuala Lumpur hub will be fully operated with A320s by July 2007.
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NEWS IN BRIEF / KURZMELDUNGEN
On 19 December 2006, DCN signed a contract worth Euro287 million with the French Navy's Fleet Support Service (SSF) to provide through-life support services for the Charles de Gaulle nuclear-powered aircraft carrier based at Toulon on the Mediterranean. The first tranche of this five-year contract is worth Euro70 million. The agreement further confirms DCN's leadership in naval through-life support. This contract extends the SSF's performance-based approach to through-life support (TLS) by bringing a range of carrier support activities under a single agreement. It covers the RCOH proper, RCOH preparation and three follow-on TLS periods. The overriding aims are to improve support services and efficiency. Under this agreement, part of DCN's remuneration will be based on the number of days the ship is available for operational duty. For the term of the contract, DCN will guarantee the SSF high security, safety and operational availability.
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The U.S. Army announced Jan. 9 that it is realigning its unmanned aerial assets to correspond better with future joint-force requirements and budgetary constraints. The Army is balancing competing priorities: the costs of war and reset, and the need to modernize the force. Consequently, the service will continue to improve Raven and Shadow Unmanned Aerial Systems, develop two of four classes of Future Combat Systems Unmanned Aerial Systems, and field the Extended Range/Multi-Purpose Unmanned Aerial Systems. "The lessons our Army learned after five years of war helped to form our future force requirements," said Brig. Gen. Stephen D. Mundt, Director of Army Aviation. "Unmanned Aerial Systems will play an increasingly prominent operational role for our Combatant Commanders and for our Soldiers. They are a force multiplier and a life saver. Army Modernization is dynamic, not static and that's why we're making these necessary adjustments. " Training and Doctrine Command and various Army staffs spearheaded a 13-month study, which carefully assessed the Army's Unmanned Aerial Systems capabilities. The future force Unmanned Aerial Systems adjustments were approved by Army Chief of Staff Gen. Peter J. Schoomaker last month. The Army has begun implementing the new Unmanned Aerial Systems realignment.
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After a successful lift off from the Satish Dhawan Space Centre in Sriharikota, the PSLV-C7, successfully completed its multiple mission flight by placing all its four payloads in the intended orbit. In its tenth flight, the PSLV-C7, the reliable workhorse of the ISRO, placed the 680 kg CARTOSAT-2, 550 kg Space Capsule Recovery Experiment (SRE-1), 56 kg-Indonesian LAPAN-TUBSAT satellite and the six kg Argentinean-PEHUENSAT-1 satellite in the intended orbit. It was an awesome sight as the 44.4 metre-tall humongous four-stage vehicle, sporting the Indian tricolour logo at the cone-shaped tip, roared into the skies, spitting orange flames and leaving a trail of smoke and a rumble that shook the earth. After the text-book precision lift off, the flight was flawless as it first injected the Cartosat-2 into the 635 km high Polar Sunsynchronous Orbit, 981 seconds after the PSLV-C7 blasted off from the First Launch Pad at 0923 hrs, amid cheers from the scientists at the Mission Control Centre (MCC).
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Spanair and Air One announced their new marketing relationship by signing a commercial bilateral agreement offering code-share flights between Barcelona and Turin as part of its vigorous expansion programme. This agreement is based on a codeshare operation on both carriers' networks providing better connections to passengers travelling from Italy to Spain and vice versa. By means of this collaboration Spanair will code share on flights operated by Air One between Barcelona and Turin that connect with the cities of Rome and Naples while Air One will code-share on Spanair flights uniting the city of Barcelona with Madrid and Oviedo.
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NASA has authorized a contract action having a value of $48 million with ATK Thiokol of Brigham City, Utah, to continue design and development of the first stage for the Ares I crew launch vehicle. Ares I will transport the Orion crew exploration vehicle and its crew of up to six astronauts, or other small cargo payloads, to low-Earth orbit. The first stage will consist of a single reusable solid rocket booster and motor similar to those used on the space shuttle, but with a fifth motor segment added. The upper stage will consist of a J-2X liquid hydrogen, liquid oxygen engine and the associated propellant tanks and fuel distribution systems. This Ares I first stage contract action will increase a first stage task under an existing shuttle contract by $48 million for a total work effort valued at $111 million. These activities are a preparatory effort leading up to the Ares I first stage prime contract, which will be awarded in the February 2007 timeframe. The contract action maintains the design, development, test and evaluation schedule; expedites the procurement of new nozzle metal hardware and production tooling for propellant casting and nozzle fabrication; maintains the necessary design and engineering analysis; and continues participation in pilot parachute development tests. The action also provides support for an initial test flight in the spring of 2009 known as Ares I-1 and provides support for Ares I-1 in preparation for Preliminary Design Review. The test flight will use a simulated fifth segment on the first stage and a simulated upper stage.
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Bell Helicopter has sold three 412s to the Mumbai-based Global Ventra Helicorp Ltd., bringing the Indian aviation firm's fleet size to 18. Global Vencra also has firm plans to incorporate another four Bell-412s into its fleet in the next financial year,' said Lt. Gen. (Retired) S.J.S. Saighal, chairman and managing director of the company. With the latest sale, there are more than 70 Bell helicopters operating in India - 18 of them of 412s - with a market share of over 50 percent, said a statement issued by Bell Helicopter.
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Ushering in a new level of individual comfort and personalized air service for Paris-bound travelers, L'Avion celebrated its inaugural flight between Paris and the New York area as the first exclusively business class carrier to serve these cities. To celebrate this milestone. With a focus on premium service at an attractive price, L'Avion is the first and only business-class airline connecting New York and Paris from both cities' closest and most convenient airports: Newark Liberty International Airport and Orly South. L'Avion is a convenient and hassle-free alternative to traditional transatlantic travel service, providing a premium level of service and comfort at a low fare. L'Avion proposed very attractive fares: pricing from US$ 1599 including all applicable taxes for a round trip flight from New York -- Paris. L'Avion is designed to create a private and pleasurable environment giving the sensation of traveling in a large private jet. With just 90 seats onboard the specially-outfitted Boeing 757-200, two rows of two seats are separated by a wide central aisle, thus ensuring a window or an aisle for every traveler. The cabin is subtle and comfortable with each seat reclining up to 140 degrees for optimal comfort. Power outlets are at every seat and travelers have individual digital video players with on demand film service.
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An agreement regarding the manufacture of the newly developed AW-139 helicopter fuselage by TAI, the center of technology in design, development, manufacturing, integration of aerospace systems, modernization and after sales support in Turkey, was signed with AgustaWestland in March 2004. Within the framework of the program, in which a total of 250 fuselages will be manufactured at TAI's facilities between 2006-2017, the first fuselage was shipped to AgustaWestland on 21 December 2006. Under the program a total of 24 fuselages (two per month) are planned to be delivered in 2007.
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Lockheed Martin will manage the logistics and warehousing for all tires used on U.S. Air Force and Army aircraft around the world, supporting tire manufacturer and prime contractor Michelin Aircraft Tire Company, LLC. The Defense Logistics Agency on Jan. 3 awarded a $368 million performance-based logistics contract to Michelin to privatize the production and logistics for its aircraft tires. With options exercised the contract is valued at $700 million over 10 years. Lockheed Martin's role as a subcontractor to Michelin, which is valued at approximately 15 percent of the contract value, includes demand forecasting, inventory management, warehousing and transportation. Michelin and Lockheed Martin have provided similar services to the U.S. Navy for its aircraft tires since 2001.
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The Lockheed Martin F-35 Lightning II achieved another successful test flight on January 8 from the company's Fort Worth, Texas, facility. "The maturity of this highly integrated aircraft for its second flight is dazzling -- when it's time to fly it is always ready and takes minimal time to get out of the chocks," said Jon Beesley, F-35 Chief Test Pilot. "The flight underscores that the Lightning II flies just as our engineers predicted. This was the first time that we have retracted the landing gear and the aircraft handling qualities were outstanding. I continue to be impressed by this marvelous airplane's performance and handling characteristics." Approximately 10 minutes into the flight, Beesley retracted the landing gear and climbed from 15,000 to 20,000 feet to evaluate handling qualities and engine operation in the cruise mode at Mach 0.6 (~ 450 m.p.h.) and Mach 0.7 (~ 530 m.p.h.). The handling tests included rolls, turns, angle-of-attack changes and engine throttle changes. The flight lasted 62 minutes and was executed exactly as planned. It followed the aircraft's successful first flight on Dec. 15, when the F-35 demonstrated unprecedented engine performance and handling qualities.
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Boeing and Singapore Aircraft Leasing Enterprise (SALE) announced that the lessor has exercised options and purchase rights for 20 Boeing Next-Generation 737-800s. The agreement, valued at US$1.4 billion at list prices, follows previous orders in May 2005 and April 2006 for a total of 30 737s. The new order, finalized in December, was included in 2006 order totals and attributed to an unidentified customer. The new airplanes are scheduled for delivery between 2009 and 2011. As with previous orders by SALE, the 737-800 is the baseline model specified, but the agreement provides for conversions to other Next-Generation 737 family models.
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U.S. Customs and Border Protection announced its decision to establish a northern border unmanned aircraft system (UAS) pilot program. Based in Grand Forks, N.D., the pilot program will be established by the end of fiscal year 2007. "As unmanned aircraft have proven to be effective on our southern border, this first step in North Dakota will lay the foundation to expand UAS operations along the nation's northern border," said Michael Kostelnik, assistant commissioner, CBP Air and Marine. "As Customs and Border Protection expands air operations along the northern tier, the presence of the UAS will further enhance our situational awareness." CBP decided to establish the pilot program in Grand Forks because of its central location along the northern border. With the program based in Grand Forks, CBP will have the capability to launch UAS operations across the entire northern tier. The fiscal year 2007 addition of satellite infrastructure at CBP's Air and Marine Operations Center in Riverside, Calif., will provide CBP the capability to access national airspace, expanding the UAS's reach across the northern and southern borders.
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The Mexican Navy recently accepted the second two of four new Model 300C helicopters manufactured by Schweizer. The first two aircraft were delivered in October of 2006. The Mexican Navy will use their new aircraft to perform both initial and advanced helicopter pilot training. All four aircraft are equipped with procedural IFR flight training instrument panels.
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NASA selected for concept study development two proposals for future robotic missions to Mars. These missions would increase understanding of Mars' atmosphere, climate and potential habitability in greater detail than ever before. In addition, NASA also will fund a U.S. scientist to participate in a proposed European Mars mission as well as fund instrument technology studies that could lead to further contributions to future Mars missions. "These mission selections represent unprecedented future research that will lead to further advancing our knowledge and understanding of the Red Planet's climate, and atmospheric composition," said Mary Cleave, associate administrator for NASA's Science Mission Directorate, NASA Headquarters, Washington. Each Mars mission proposal will receive initial funding of approximately $2 million to conduct a nine-month implementation feasibility study. Following these detailed mission concept studies, NASA intends to select one of the two proposals by late 2007 for full development as a Mars Scout mission. The mission developed for flight would have a launch opportunity in 2011 and cost no more than $475 million. The selected Mars mission proposals are: Mars Atmosphere and Volatile Evolution mission, or MAVEN: The mission would provide first-of-its-kind measurements and address key questions about Mars climate and habitability and improve understanding of dynamic processes in the upper Martian atmosphere and ionosphere. The principal investigator is Bruce Jakosky, University of Colorado, Boulder. NASA's Goddard Space Flight Center, Greenbelt, Md., will provide project management. The Great Escape mission: The mission would directly determine the basic processes in Martian atmospheric evolution by measuring the structure and dynamics of the upper atmosphere. In addition, potentially biogenic atmospheric constituents such as methane would be measured. The principal investigator is Alan Stern, Southwest Research Institute, Boulder, Colorado. Southwest Research Institute, San Antonio, will provide project management.
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CHC Helicopter Corporation announced it has been awarded a new contract from TOTAL E&P Norge AS for the provision of helicopter transportation services from Stavanger and Kristiansund, Norway, commencing in early 2008. In support of this contract, CHC will deploy a Eurocopter EC225 helicopter, the first deployment of the EC225 in Norway. The contract is for three years, plus three two-year options, and is anticipated to generate incremental revenue of approximately CDN $9 million per year.
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MBDA has received notification of a new 66.5 million euro contract for Eryx. This contract, dated 29th December 2006, covers the acquisition of both training and combat missiles for delivery to the French Army between the second half of 2008 and the end of 2011. A small quantity of the missiles ordered will go to the French Navy for its Marine Commando forces. A second follow-up contract is also expected to cover the modernisation of the Eryx system tripod. With this new order, France has confirmed its decision to base its anti-tank operational capability up to 2020 on the Eryx missile which first entered service in 1993 and has since been used regularly in operations.
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The Bell Boeing V-22 Osprey team met its 2006 delivery commitment of 13 MV-22 Ospreys delivered to the U.S. Marine Corps and three CV-22s to the U.S. Air Force Special Operations Command. During 2006, the V-22 fleet surpassed 23,000 total flight hours, including 16,000 squadron flight hours. The program will surpass 25,000 total flight hours in the coming months. The Marines stood up two MV-22 squadrons: VMM-263 and VMM-162. The Air Force stood up the 8 Special Operations Squadron and completed their Operational Utility Evaluation of the CV-22 in order to begin training combat CV-22 crews.
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Raytheon successfully tested a prototype solid-state laser weapon that combines the proven capabilities of the Phalanx weapon system with the power and effectiveness of lasers to defeat rockets, mortars and missiles at an operationally significant range. The prototype solid-state Laser Area Defense System (LADS) successfully detonated 60-millimeter mortars at a range greater than 550 yards within the tactical timeline in static ground testing conducted in partnership with the United States government. This government-industry team accomplished these groundbreaking prototype tests in less than six months.
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The U.S. Department of Transportation (DOT) awarded the new nonstop U.S.-China route to United Airlines, reinforcing that the route will provide the greatest public benefit and promote the national interest by connecting two of the world's most important capitals. In its decision, DOT found that "United's Washington (Dulles)-Beijing proposal has important advantages that should benefit the traveling public while also enhancing sustainability of the service." "We applaud the Department of Transportation on their fair and thorough process and for putting the interest of the nation and the traveling public first," said Glenn Tilton, United chairman, president and CEO. "United Airlines is honored to be selected as the first carrier to connect the governments, commerce and cultures of these two important capital cities."
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Boeing Business Jets and Rockwell Collins introduced an Enhanced Vision System (EVS) offering for Boeing Business Jet (BBJ) operators. The offering will be available to BBJ customers through Boeing and Rockwell Collins service bulletins, and certification for the system is expected by early 2008.The Rockwell Collins EVS presents an image of the external environment on the Head-up Guidance System (HGS) and head-down displays to enhance pilot situational awareness of terrain and the airport environment in low-visibility situations. When displayed on the HGS, EVS allows the pilot to descend below minimums, if the visual references to the intended runway are visible using the EVS.
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Goodrich will provide Airbus with nacelle and thrust reverser systems for all variants of the recently launched A350 XWB aircraft. The contract is expected to generate approximately $10 billion in original equipment and aftermarket revenues for Goodrich over 20 years. The contract includes the integration of the Goodrich technology with each engine manufacturer's offering/option. Therefore, Goodrich will ultimately be providing Airbus with complete propulsion systems ready to be installed on the A350 XWB final assembly line.
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The U.S. Special Operations Command has awarded Raytheon a $135.4 million contract to develop a new tactical radar for rotary and fixed-wing aircraft. Formally signed Dec. 12, 2006, and initially funded at $28.5 million, the system design and development contract calls for Raytheon to build, test and integrate the new Silent Knight radar. The system will serve as a common multi-mode terrain following/terrain avoidance radar for a variety of platforms including the MH-47G helicopter, the lead aircraft for the program. The cost plus incentive fee contract, potentially valued at more than $164 million, contains an option for six low rate initial production units. Raytheon Space and Airborne Systems is performing the work in Dallas and McKinney, Texas. Principal partners include AIC, Crestview, Fla.; DRS Technologies, St. Louis, Mo.; and Rockwell Collins, Cedar Rapids, Iowa.
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Aviall, a subsidiary of Boeing announced that it has been awarded an early renewal of its ten-year Model 250 exclusive worldwide aftermarket agreement with Rolls-Royce. Although the existing ten-year agreement is not due to expire until December 31, 2009, Rolls-Royce, has requested and Aviall agreed to extend the existing agreement until 2019. There are approximately 16,000 Model 250 engines in service today throughout the world in both commercial and military applications. Aviall currently services over 4500 customers in 155 countries as well as the FIRST network of 27 Rolls-Royce authorized maintenance centers throughout the world.
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QinetiQ has conducted the final testing of its T5 ion thrusters that will enable a European space mission to measure and map the Earth's gravity field in far greater detail than ever previously achieved. QinetiQ's T5 ion thrusters will provide high precision drag compensation for the European Space Agency (ESA) GOCE spacecraft, due for launch later this year. The data captured by GOCE will contribute significantly to our understanding of the Earth's structure, climate and the impacts of climate change. QinetiQ was awarded a £4.6 million contract by Astrium, ESA's prime contractor for the GOCE platform, in 2001 to provide the two Ion Thruster Assemblies (ITAs) for the spacecraft. By using QinetiQ's T5 ion thruster the spacecraft will be able to compensate for the drag experienced in orbit, thereby allowing highly accurate measurements of the Earth's gravity field. Travelling at 8 kilometres per second and operating at an orbital altitude of 240 kilometres, the spacecraft will experience a small but significant disturbance in its motion from atmospheric drag. This disturbance is constantly changing so continuous and precise compensation is needed to allow the highly sensitive accelerometers on board to map the earth's gravitational field. The extreme control precision provided by the T5 ion thrusters has been likened to compensating for a snow flake landing on the deck of a super tanker.
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On 20th December 2006, South Africa placed an order worth just over 18 million euros for the very latest generation Milan ADT firing posts and training simulators as well as Milan 3 munitions. With this order, South Africa becomes the first export client for the Milan ADT firing post which is compatible with the future Milan ER missile. The new digital technologies incorporated within the ADT firing post are responsible for notable system enhancements such detection, reconnaissance and identification (DRI). The systems ordered for the Army will equip the South African Infantry (currently deployed in The Democratic Republic of the Congo and Burundi) as well as the Special Forces.
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Didier Evrard has been appointed Head of the A350 Programme with immediate effect. Mr Evrard has previously been with MBDA, a world leader in missiles, where he led the MBDA Product Lines Directorate together with MBDA France since 2002. Before its industrial launch, the A350 programme was coordinated by Olivier Andries, EVP Strategy of Airbus who, along with the "Programmes" team led by EVP Tom Williams, was the driving force behind the development of the programme. At this point it is key to evolve the team leadership structure to provide long-term continuity for the development of the programme. "I would like to thank Olivier and especially all those in Tom's team who have contributed to leading the A350 XWB up to industrial launch and to what it is today. Didier Evrard brings proven leadership and programme development management capabilities in combination with an understanding of customer needs and business objectives. This will be a strong asset for the A350 team. He has the full support of both the EADS and Airbus Managements to successfully lead the technical and industrial development of the A350 XWB programme", Airbus President and CEO, Louis Gallois said on the occasion of the appointment.
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Alenia Aeronautica, a Finmeccanica company, has delivered today to the Italian Air Force the first of twelve C-27J tactical airlifters ordered in the advanced configuration specifically required by the ItAF. The whole fleet will be delivered by 2008. The new C-27Js will replace the G.222s previously in service with the 46th Wing ItAF and will be used for troops, cargo, paratroopers and cargo drops, for civil protection and fire-fighting operations. In addition to the Italian Air Force, the aircraft has already been ordered so far by Greek Air Force (12 aircraft, plus 3 options), by the Bulgarian Air Force (5 aircraft, plus 3 options), by the Lithuanian Air Force (3 aircraft), and it has also been selected by Rumania (7 aircraft). In the United States, the C-27J runs for the, Army's and Air Forces' JCA, Joint Cargo Aircraft program, while in Canada it is proposed for the renewal of the Search and Rescue aircraft fleet. The C-27J is also under evaluation by Australia, Ireland, Qatar, Saudi Arabia, and by other countries.
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Gallium nitride (GaN) semiconductor circuits developed by Raytheon Company's Integrated Defense Systems (IDS) have passed a key testing milestone, demonstrating the reliability of this technology for high-power applications in military radar, communications, electronic warfare and missile systems. The company recently completed 8,000 hours of successful operational testing on GaN semiconductor monolithic microwave integrated circuits (MMICs), reaffirming the company's leadership in the development of this advanced semiconductor material for applications in frequency ranges crucial to many defense-related systems and equipment. The testing is being conducted at elevated temperatures and operating conditions to simulate performance over a much longer period of time. The test conditions approximate an operational lifetime of 80,000 hours, or more than nine years of normal operation. Raytheon plans to continue accumulating test hours on these GaN MMICs into 2007. Independent concurrent validation will also continue into 2007. "GaN semiconductors are capable of delivering up to 10-times higher power levels compared with the current technology," said Mark Russell, IDS' vice president of engineering. "Combined with their enhanced thermal characteristics, they offer the potential for improved performance in current and future military applications.”
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The Turbomeca (SAFRAN Group) Arrius 1A1 engine, with a take-off power of 463 shp, has been certified by the European Aviation Safety Agency (EASA). The Arrius 1A1 will power the Eurocopter AS355 NP helicopter. The first production engines at the certification standard are scheduled for delivery in early in 2007. 30 engines should be delivered this year. Two Turbomeca Arrius 1A1 engines will power the AS355 NP helicopter. On this new version, a new HP turbine has been integrated in order to increase emergency power for improved OEI (One Engine Inoperative) performance: the FADEC-controlled 1A1 has a higher thermodynamic OEI rating which means the helicopter can retain Category A performance hotter, higher or heavier. For this new variant Turbomeca proposes a higher TBO (Time Between Overhaul) for the mature engine, with direct effect on operating and maintenance costs, thereby making the aircraft highly cost-effective.
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In the reporting month of December 2006, Frankfurt Airport (FRA) achieved new peak figures for passenger and airfreight traffic, as well as for aircraft movements and accumulated maximum takeoff weights (MTOWs). Increased demand for city travel to Southern and Southeastern Europe destinations created positive impulses in the final month of the year. Additional flight offers to the Far East and over the North Atlantic stimulated long-haul traffic. Asia as well as North America accounted for FRA's continuing airfreight boom. The entire year 2006 also resulted in new records for passenger and airfreight traffic. Despite the existing capacity constraints of FRA's runway system, Germany's largest airport welcomed 52,821,778 passengers last year, 1.1 percent more than in 2005. Airfreight grew at a significantly stronger 8.7 percent rate, hitting 2,057,175 metric tons. Airmail tonnage totalled 96,889 metric tons in 2006, down 2.6 percent compared to 2005. With 489,406 takeoffs and landings, FRA's aircraft movements remained nearly unchanged (down 0.2 percent). MTOWs slipped by 0.7 percent to 27,973,455 metric tons. FRA achieved several historic traffic records in 2006. In July, the monthly passenger volume reached 5,085,258 and aircraft movements climbed to 43,601; in November monthly airfreight traffic hit 187,307 metric tons. Frankfurt Aiport's traffic results for December 2006 exceeded Fraport's expectations. FRA registered some 3,836,855 passengers, 4.1 percent more than in the same month of 2005. Airfreight tonnage jumped by 4.5 percent to 177,991 metric tons. Airmail traffic dropped by seven percent to 10,507 metric tons. In contrast, aircraft movements increased by 1.7 percent to 38,084 takeoffs and landings and MTOWs climbed by 2.3 percent to 2,215,603 metric tons. The six airports of the Fraport Group had a total of 73,780,079 passengers for 2006, a 2.3 percent increase over 2005. Fraport's terminal at Antalya Airport (AYT) in Turkey welcomed a total of 5,106,781 passengers in 2006, one percent more than in the previous year.
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The Mexican low-cost carrier Interjet has signed a contract with Airbus at the end of December 2006 for the acquisition of ten additional A320s, hereby converting their options into a firm order. These were part of an order for ten A320s plus ten options placed at the Paris Air Show in June 2005. Interjet is based at Toluca airport near Mexico City, and recently celebrated its first anniversary of scheduled services in the Mexican domestic market.
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Frontier Airlines has signed a long-term airline services agreement with Indianapolis-based Republic Airlines, a subsidiary of Republic Airways Holdings. Under the agreement, Republic Airlines will operate 17 Embraer 170 aircraft as part of Frontier's regional jet service. Frontier will maintain control of routing, scheduling and ticketing and will purchase the aircraft capacity from Republic at predetermined rates and industry standard pass-through costs. Republic will deliver its first aircraft in March of 2007 and the remaining 16 Embraer 170 aircraft will be delivered throughout the term, with the final delivery scheduled for December 2008. Republic replaces Frontier's current regional jet operator, Horizon Air, whose agreement with Frontier to operate nine 70-seat CRJ-700 aircraft will expire with the return of its last aircraft in December, 2007. The first two of Horizon's aircraft are to be returned in January, 2007. "Today's news represents another component of our strategy to pursue major regional expansion," said Jeff Potter, Frontier president and CEO. "The 17 E-170s that Republic will operate for us perfectly complements the ten Q400 aircraft that will be operated for us by our subsidiary, Lynx Aviation. While we enjoyed a great relationship with and excellent customer service from our previous partners at Horizon, we are thrilled that our new partners at Republic can offer us the same level of service as well as the additional capacity we need to make our growth plans a reality. Additionally, the comfort of the Embraer 170 with wider seats, greater leg room and a taller cabin than most regional aircraft is important to our customers, and the economics of the aircraft make good business sense. I am confident that in selecting Republic, we've chosen an operator that can uphold our high standards for reliable, quality service at competitive fares."
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AirTran Holdings, the parent company of AirTran Airways, today announced that it has commenced an exchange offer for all of the outstanding shares of Midwest Air Group, for $13.25 per Midwest share, based on the closing price of AirTran common stock on January 8, 2007. The offer consists of $6.625 in cash and 0.5884 shares of AirTran common stock for each Midwest share. The total equity value of the exchange offer is $345 million. The offer, which is being made through Galena Acquisition Corp., a wholly owned subsidiary of AirTran, represents a premium of 61 percent over the thirty day average closing price of Midwest common stock at the time of AirTran's initial proposal to acquire all of Midwest's common stock at a price of $11.25 per share on October 20, 2006, and an approximately 46 percent premium over the closing price the day prior to December 13, 2006, the date on which AirTran disclosed its October 20, 2006, offer. "We are committed to bringing these two great airlines together to form an even better airline based on our conviction that it is in the best interests of Midwest and AirTran shareholders, the employees of both companies and the communities the air carriers serve," said Joe Leonard, AirTran Airways' chairman and chief executive officer. "Together, we will be in a stronger position to compete in the changing airline marketplace, to grow underserved cities like Milwaukee and Kansas City, increase employment and advancement opportunities, and to provide our customers with the high quality service they value."
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Northrop Grumman is implementing a more efficient business process for providing maintenance and sustainment support for the nation's fleet of B-2 stealth bombers under a one-year contract awarded by the U.S. Air Force's Oklahoma City Air Logistics Center. The contract comprises three delivery orders totaling more than $200 million. Northrop Grumman is the prime contractor for the B-2, the flagship in the Air Force's arsenal of long range strike aircraft. Under the new approach, known as Performance-Based Logistics (PBL), Northrop Grumman's product support team is measured by its ability to meet B-2 aircraft combat readiness requirements specified by the Air Force. PBL eliminates the traditional, transaction-oriented approach to weapon system support that requires a prime contractor to perform specific tasks, purchase spare parts, and conduct maintenance on a specified schedule.
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General Dynamics Santa Barbara Sistemas was awarded a $424.5 million contract in late December 2006 by the Spanish Army for the supply of Long Range (LR) SPIKE Missile Systems. General Dynamics Santa Barbara Sistemas is one of four companies that comprise General Dynamics European Land Combat Systems, a business unit of General Dynamics. General Dynamics Santa Barbara Sistemas, the prime contractor, has an agreement with the Israeli company RAFAEL for the manufacture of the systems. Approximately 60 percent of the program work will be completed in Spain, where General Dynamics Santa Barbara Sistemas will manufacture system components and perform final assembly and testing. The SPIKE-LR is a lightweight, shoulder-launched multi-purpose missile system with a range of up to 4,000 meters. The contract calls for the manufacture of 260 launchers and 2,600 missiles, plus integrated logistics support (ILS). Work under the contract is expected to be complete by 2014.
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The "backbone of UK air offensive capability" and one of the most potent aircraft in the world, the Tornado, celebrated its 25th birthday on 6 January 2007. The first of more than 220 Tornados entered service with the RAF on 6 January 1982, making IX Squadron (then based at RAF Honington in Suffolk) the first operational Tornado GR1 squadron. The Tornado was produced by a consortium of aerospace industries in the United Kingdom, Germany and Italy and on entering service replaced a number of older RAF aircraft including the Buccaneer and Vulcan as low-level attack aircraft. The Tornado GR4 is the latest version of the RAF's primary attack aircraft equipping seven front-line squadrons at RAF Lossiemouth in Scotland and RAF Marham in Norfolk, in addition to the XV (R) Squadron Operational Conversion Unit (OCU).
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Singapore Aircraft Leasing Enterprise (SALE) has placed an order for twenty A320 Family aircraft, with an additional ten aircraft on option. The contract was signed at the end of December 2006. SALE is the largest leasing company customer for A320 Family aircraft in the Asia-Pacific region, having already taken delivery of 51 aircraft ordered directly from Airbus.
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Grupo Marsans, the largest tourism and transport group in Spain, has signed a firm contract with Airbus on December 28th 2006 for the purchase of 12 A330-200 passenger aircraft, plus 10 options through Astra Worlwide International Leasing Limited (company integrated in the group). This follows the Memorandum of Understanding signed at Farnborough Air Show in July this year. The acquisition of the new A330-200s is the first step of the group's fleet modernisation and the aircraft will be used to replace their ageing fleet of 747-200s and expand their long-haul network aircraft. Grupo Marsans' airline subsidiaries, Air Comet and Aerolineas Argentinas, amongst others, will become new operators of the type.
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The U.S. Air Force, and its industry partner Northrop Grumman Corporation, marked the initial deployment of the first Minuteman III carrying the MK21 reentry vehicle during a ceremony at the end of 2006 at Hill Air Force Base. Under the Safety Enhanced Reentry Vehicle (SERV) program, Northrop Grumman adapted hardware and electronic equipment on the Minuteman III to accommodate the MK21 reentry vehicle, recently decommissioned from the Peacekeeper force. In addition, a major revision of the MM III software programs was required. The first SERV-modified missile is deployed and on alert at F.E. Warren Air Force Base in Wyo.
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New satellite operator ProtoStar has chosen Arianespace to launch DTH satellite ProtoStar I. Arianespace CEO Jean-Yves Le Gall announced today during his annual January press conference that Arianespace will launch the ProtoStar I satellite for ProtoStar Ltd. This is the 280th launch contract won by Arianespace since its inception in March 1980. ProtoStar I will be placed into geostationary transfer orbit by an Ariane 5 from the Guiana Space Center, Europe's Spaceport in Kourou, French Guiana, during the first half of 2008. Weighing in at 4100 kg, ProtoStar I is a Space Systems/Loral (SS/L) 1300 platform, built in Palo Alto, California and will be the 34th platform built by SS/L to be launched by Arianespace. The satellite will be equipped with 22 Ku-band 36 MHz equivalent and 38 C-band 36 MHz equivalent transponders, and will provide digital DTH services, HDTV and Broadband Internet to underserved areas in Asia.
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Following the success of AIRMAN in America West operations, Airbus' real-time maintenance and troubleshooting tool, Airbus Customer Services is pleased to welcome the fleet engineering team of US Airways as a new AIRMAN user. Airbus has signed an agreement with US Airways Group for the selection of AIRMAN to monitor its Airbus fleet of over 200 Airbus aircraft. With this selection, US Airways becomes the largest user of this successful Airbus maintenance service, designed to help reduce maintenance and operating costs and improve aircraft dispatch reliability.
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Boeing is showing steady progress toward building the first 787 Dreamliner with the rollout of its second specially-modified freighter and a successful first pickup of 787 parts from Japan. The load consists of section 43, a forward fuselage section made by Kawasaki Heavy Industries, and section 11/45, the center wheel well and center wing tank, made by KHI and Fuji Heavy Industries and joined at FHI. These were loaded onto the 747-400 Large Cargo Freighter -- now known as the Dreamlifter -- earlier today at Centrair Airport in Nagoya. The large composite parts are destined for Charleston, S.C. "Today is an exciting day for Boeing and our Japanese partners," said Scott Strode, 787 vice president of Airplane Development and Production. "Transporting these parts from FHI and KHI is the first step in assembling the first 787. We're very pleased with how it went and with the quality of the parts received." In another sign of production readiness, the second Dreamlifter rolled out of the hangar Jan. 7 in Taipei, Taiwan, sporting its distinctive new white and blue livery. The airplane will take its first flight in the next several weeks.
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Effective January 1, 2007, Bernhard Conrad (56) has been appointed Chief Technology Officer (CTO) of Lufthansa Technik AG in addition to his function as Head of EASA Approved Design Organization. He will act as Senior Vice President Design Organization and Innovation.
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Engineers at Cessna continue to be impressed with the performance of the proof-of-concept (POC) model of a light sport aircraft as the company continues its evaluation of the aircraft, the business case and the overall LSA market. “Our proof-of-concept model has proven to be impressive in terms of performance and handling qualities,” said Cessna's project engineer Neal Willford. To date, the POC aircraft has logged some 50 flight hours conducting a range of tests evaluating a variety of aircraft characteristics while gathering critical data to be used by the company in its decision to proceed with the program. Cessna plans to make a go/no-go announcement after the evaluation is completed.
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SWISS increased its capacity utilisation in 2006 by 1.7 percentage points from the previous year and achieved an average seat load factor of (SLF) of 79.8% for its entire route network. On intercontinental routes the SLF stabilised at 83.8% (2005: 84%). In Europe, the SLF improved by 5.4 percentage points to 71.3%. SWISS carried a total of 10.5 million passengers in 2006 (2005: 9.6. million.) In December 2006 SWISS recorded an average seat load factor (SLF) of 79.7% (same month a year ago: 74.9%). SWISS carried 881,997 passengers in December (previous year: 721,013).The seat load factor on intercontinental routes rose by 3.1 percentage points to 83.9%. In Europe, SWISS improved its SLF in December by 7.8 percentage points on a year-ago comparison to 70%. On intercontinental routes the SLF of 83.8% was practically the same as the 84% recorded for the previous year. Against an increase of 6.1% in capacity in terms of available seat kilometres (ASK) SWISS raised revenue passenger kilometres (RPK) by 5.8% on long-haul services.
In Europe SWISS increased SLF in 2006 by 5.4 percentage points to 71.3% (previous year: 65.9%). While capacity in available seat kilometres (ASK) was raised by 4.7% compared to the previous year, revenue passenger kilometres (RPK) increased by 3.3%. Swiss WorldCargo's business figures for 2006 remained stable at a high level. The volume-based freight load factor for the year was 85.8% (previous year 86.5%).
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