Embraer Delivers Seven Commercial and 21 Executive Jets in 3Q20
press release
Embraer (NYSE: ERJ; B3: BOVESPA: EMBR3) delivered a total of 28 jets in the third quarter of 2020, of which seven were commercial aircraft and 21 were executive jets (19 light and 2 large). As of September 30, the firm order backlog totaled USD 15.1 billion. During the 3Q, Embraer Executive Jets reached the milestone of the 250th business jet in operation in Latin America with the delivery of a Phenom 100EV and a Phenom 300E to two separate Brazilian customers. In the same period, Embraer Executive Jets delivered the first Phenom 300E with the new Bossa Nova interior to Joe Howley, co-founder of Patient Airlift Services (PALS). Also in the third quarter, Helvetic Airways signed a commitment to convert four of their remaining firm orders to the larger E195-E2 aircraft. The original order, for 12 E190-E2s with purchase rights for a further 12, and conversion rights to E195-E2, was announced in September 2018. Embraer has so far delivered five E190-E2s to Helvetic Airways, and all deliveries of the remaining seven aircraft, including the four E195-E2s, will be completed before the end of 2021. In addition, during the period Bamboo Airways, from Vietnam, received and started operations with two first generation used E195 aircraft. See full Press Release at the document attached. Download
Read more...Boeing and University of Arizona Show Cleaning Tools and Techniques Effective Against COVID-19
press release
- Cleaning technologies and disinfecting solutions tested against a virus that is safe to humans inside an unoccupied Boeing airplane
- Results show products, methods and technologies tested are effective
In a first-of-its-kind series of tests, Boeing [NYSE: BA] and the University of Arizona determined airlines’ current cleaning solutions effectively destroy the virus that causes COVID-19. Boeing completed the testing as part of its Confident Travel Initiative (CTI) to support customers and enhance the safety and well-being of passengers and crews during the COVID-19 pandemic.
Testing was conducted on an unoccupied Boeing airplane against a live virus called MS2 over the summer. The University of Arizona, Department of Environmental Sciences correlated those results to SARS-CoV-2, the virus that causes COVID-19, in a protected laboratory environment.
“While these cleaning solutions had been tested in other environments, an airplane behaves differently. It was critical for us to evaluate and confirm the chemicals and techniques we recommend for our customers’ use are effective and battle-tested,” said Mike Delaney, who leads Boeing's CTI efforts. “By working with the University of Arizona, we were able to employ their world-renowned expertise in virology to do exactly that.”
The bacteriophage virus MS2 is safe and harmless to humans and more difficult to kill than SARS-CoV-2. Scientific and industry studies have used the MS2 virus for many years, but never before in an airplane cabin. The University of Arizona provided the MS2 virus and analyzed test results.
“This study allowed us to test and validate, for the first time, that disinfecting solutions kill SARS-CoV-2 on an airplane,” said University of Arizona microbiologist Dr. Charles Gerba. “It’s important to recognize we’re not only talking about SARS-CoV-2, but also other viruses and microorganisms.”
The study placed MS2 at strategic high-touch points throughout the cabin, including on seat tray tables, arm rests, seat cushions, stowage bins and inside the lavatory and galley. Technicians disinfected each area with various products and technologies. Chemical disinfectants were applied through two means: manual wiping and with an electrostatic sprayer, a device that applies a fine spray of an approved liquid disinfectant. The tests also measured how well Boeing’s ultraviolet wand and antimicrobial coatings worked. Antimicrobials are long-lasting coatings that destroy germs and viruses on surfaces.
The University of Arizona analyzed each area post-disinfection to determine effectiveness. The results showed various levels of effectiveness, but ultimately all the recommended products, methods and technologies successfully destroyed the MS2 virus.
Boeing and the University of Arizona continue to test recommended cleaning methods in a lab against SARS-CoV-2 and other similar viruses to further validate their efficacy.
Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As the top U.S. exporter, the company supports commercial and government customers in more than 150 countries and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.
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Airbus delivers its first U.S.-assembled A220 from Mobile, Alabama
press release
Airbus has delivered its first U.S.-assembled A220 aircraft from Mobile, Alabama, underlining the aircraft manufacturer’s role as a global aircraft producer and heralding the arrival of a new era in Airbus aircraft production in the United States. The aircraft was delivered to Delta Air Lines.
“The delivery of the first U.S.-built A220-300 is a historic moment that highlights Airbus’ growing industrial footprint in North America and makes us all extremely proud,” said C. Jeffrey Knittel, Chairman & CEO Airbus Americas, Inc. “We look forward to seeing passengers delighted by the experience of travelling on board this brand new A220-300 proudly built in Mobile, Alabama.”
Several milestones led up to this historic moment. From the groundbreaking of the Mobile A220 Final Assembly Line in January 2019, through the official start of A220 production in August 2019, and the inaugural flight of this aircraft in June, the A220 teams in Mirabel (Quebec) and Mobile worked closely together to make the A220 production in the U.S. a success.
“Handing over the first U.S-assembled aircraft to a U.S.-based customer is a real point of pride for the A220 programme,” said Philippe Balducchi, leading the A220 programme. “This delivery is the first of many to come and shows the strong collaborative spirit between the A220 Programme teams globally.”
To date, approximately 400 U.S. employees have been trained on A220 production - some in Mirabel, Quebec, Canada, where the A220 program and primary final assembly line are located. A year ago, the first U.S. based A220 production team, comprised of experienced and new team members, began assembling A220s in Mobile.
Delta Air Lines is currently the largest A220 customer, with a total of 95 A220 aircraft on order, and will be the first A220 operator in the Americas to be operating both A220-100 and A220-300 aircraft types.
Benefitting from the latest technologies, the A220 is the quietest, cleanest and most eco- friendly aircraft in its category. Featuring a 50% reduced noise footprint compared to previous generation aircraft, 25% lower fuel burn per seat and 50% lower NOx emissions than industry standards, the A220 is a great aircraft for neighborhood airports. Being a clean-sheet design, the A220 offers unrivalled operational efficiency and 25% lower operating costs per seat compared to previous generation aircraft.
As of end September 2020, 123 A220s have been delivered to seven operators and are being flown on routes in Asia, America, Europe and Africa, proving the great versatility of Airbus’ latest family member.
#A220
Spirit buys Bombardier’s aerostructures (Belfast & Casablanca) in amended pact
Spirit's press release
WICHITA, Kan., Oct. 26, 2020 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) (the "Company") today announced that it entered into an amendment (the "Amendment") to the definitive agreement between Spirit AeroSystems, Inc. ("Spirit") and Spirit AeroSystems Global Holdings Limited ("Spirit UK"), wholly owned subsidiaries of the Company, and Bombardier Inc., Bombardier Aerospace UK Limited, Bombardier Finance Inc. and Bombardier Services Corporation (collectively, the "Bombardier Sellers") pursuant to which Spirit UK will acquire the outstanding equity of Short Brothers plc ("Shorts") and Bombardier Aerospace North Africa SAS ("BANA"), and Spirit will acquire substantially all the assets of the maintenance, repair and overhaul business in Dallas, Texas and assume certain liabilities of Shorts and BANA (the "Acquisition").
The Amendment reduces the net proceeds purchase price payable to the Bombardier Sellers from $500 million to $275 million. Spirit will continue to make a special contribution of £100 million (approximately $130 million) to the Shorts pension scheme on the first anniversary of closing. On a U.S. GAAP basis, the net pension liabilities of the Shorts pension scheme to be assumed by Spirit are approximately $300 million (measured as of September 30, 2020). Shorts is also a party to a repayable investment agreement with the UK's Department for Business, Energy and Industrial Strategy, and Spirit will, at closing, assume Shorts' financial payment obligations under this agreement, which are approximately $290 million on a U.S. GAAP basis (measured as of September 30, 2020). At signing on October 31, 2019, Spirit reported that the Acquisition had a total enterprise valuation of $1,090 million. The Amendment reduces the total enterprise valuation to $865 million.
"This acquisition accelerates our strategic transformation by increasing our Airbus content with the A220 composite wing and growing our aftermarket business," said Spirit AeroSystems President and Chief Executive Officer Tom Gentile. "The transaction secures Spirit's position as the world's leader in composite structures for aircraft and as one of the leaders in integrated wing technologies. As with the rest of the aerostructures industry, performance will be adversely impacted due to COVID-19 for the coming years, but we worked closely with Bombardier on a mutually agreeable price reduction that mitigates this impact. Going forward, we look forward to becoming one of Bombardier's largest suppliers."
As of today's date, the conditions to the closing of the Acquisition have been satisfied. The parties expect to close the Acquisition on Oct. 30, 2020.
On the web: www.spiritaero.com
On Twitter: @SpiritAero
About Spirit AeroSystems Inc.
Spirit AeroSystems designs and builds aerostructures for both commercial and defense customers. With headquarters in Wichita, Kansas, Spirit operates sites in the U.S., U.K., France and Malaysia. The company's core products include fuselages, pylons, nacelles and wing components for the world's premier aircraft. Spirit AeroSystems focuses on affordable, innovative composite and aluminum manufacturing solutions to support customers around the globe. More information is available at www.SpiritAero.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" that may involve many risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "aim," "anticipate," "believe," "could," "continue," "estimate," "expect," "goal," "forecast," "intend," "may," "might," "objective," "outlook," "plan," "predict," "project," "should," "target," "will," "would," and other similar words, or phrases, or the negative thereof, unless the context requires otherwise. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in such forward-looking statements and that should be considered in evaluating our outlook include, without limitation, the timing and conditions surrounding the return to service of the 737 MAX and any related impacts on our production rate; our reliance on Boeing for a significant portion of our revenues; our ability to execute our growth strategy, including our ability to complete and integrate our announced Bombardier acquisition; our ability to accurately estimate and manage performance, cost, and revenue under our contracts; demand for our products and services and the effect of economic or geopolitical conditions in the industries and markets in which we operate in the U.S. and globally; our ability to manage our liquidity, borrow additional funds or refinance debt; the impact of the COVID-19 pandemic on our business and operations, including on the demand for our and our customers' products and services, on trade and transport restrictions, on the global aerospace supply chain, on our ability to retain the skilled work force necessary for production and development and generally on our ability to effectively manage the impacts of the COVID-19 pandemic on our business operations; and other factors disclosed in our filings with the Securities and Exchange Commission. These factors are not exhaustive and it is not possible for us to predict all factors that could cause actual results to differ materially from those reflected in our forward-looking statements. These factors speak only as of the date hereof, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. Except to the extent required by law, we undertake no obligation to, and expressly disclaim any obligation to, publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Spirit AeroSystems
Bombardier press release
- All closing conditions have been met and the parties have agreed on an October 30, 2020 closing date
- Total transaction valued at ~ $1.2 billion1; cash proceeds now expected to be
- $275 million
- Sale supports Bombardier’s repositioning as a pure-play business jet company and further strengthens liquidity
All amounts in this press release are in U.S. dollars unless otherwise indicated.
Bombardier (TSX: BBD.B) announced today it has entered into an amended definitive agreement to sell its aerostructures business to Spirit AeroSystems Holding, Inc. (Spirit), supporting Bombardier’s strategic decision to reposition itself as a pure-play business aircraft company. This transaction is set to close on October 30, 2020 as all closing conditions have been met.
Under the amended agreement, Spirit will acquire Bombardier’s aerostructures activities and aftermarket services operations in Belfast, U.K.; Casablanca, Morocco; and its aerostructures maintenance, repair and overhaul (MRO) facility in Dallas, U.S. for cash consideration of $275 million, Spirit’s assumption of liabilities, including government refundable advances and pension obligations, valued at $824 million, as well as certain adjustments to the parties’ trading agreements favourable to Bombardier.
“Today’s announcement marks another milestone towards achieving our strategic goal of repositioning Bombardier as a pure-play business jet company,” said Éric Martel, President and Chief Executive Officer, Bombardier Inc. “We are very excited about our future as a more focused Company. The proceeds from this transaction and from the pending sale of Bombardier Transportation strengthen our liquidity and position us to begin reshaping our capital structure and address our balance sheet challenges so that we can achieve the full potential of our incredibly talented employees and our industry leading business jet portfolio.”
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