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Week ending November 26, 2000
+++ EU clears helicopter joint venture between Agusta and Westland +++ Airbus orders pass 4000 mark +++ Lauda resigns from Lauda Air +++ Bell rolls out AH-1Z +++ EADS establishes marketing organization +++ News in brief +++
EU clears helicopter joint venture between Agusta and Westland
Fusion Agusta/Westland von EU genehmigt
The European Commission has cleared a joint venture between Italy's Agusta and Westland of the UK in militaryand civil helicopters. The deal does not pose competition concerns since there is no overlap between the companies' activities in the military sector in their respective home markets. Furthermore, their combined market share in the European or worldwide export market for military helicopters in small. Both Agusta and Westland are active in the development, production and product support of military helicopters. Agusta is also involved on the worldwide market for civil helicopters. But Westand's activities in that field are limited to a civil helicopter programme developed jointly through an already existing co-operation programme with Agusta. Westland has realised one civil helicopter sale to date, through that programme. The proposed transaction involves the creation of a joint venture which will own the helicopter businesses of Agusta and Westland. After completion of the deal, the joint venture will be jointly controlled by Finmeccanica and GKN. The case does not give rise to competition concerns since there is no overlap between Agusta's and Westland's activities in any EU Member State with a home military helicopter industry and since their combined shares of the European or worldwide export markets for military helicopters are less than 10%. Likewise, the transaction does not pose concerns in the related areas of and aerospace/avionics equipment supplies as well as the provision of various services such as maintenance. Back to the top of the page / Zurück zum Anfang der Seite
Airbus orders pass 4000 mark
Jetzt über 4000 Aufträge für Airbus
International Lease Finance Corporation (ILFC) has signed a firm order for 62 A320 Family aircraft and 20 A330 widebodies, confirming a commitment announced in July, and taking Airbus' total sales to 4060. The deal, worth more than US$5 billion, covers the purchase of 18 A319s, 27 A320s, 17 A321s and 20 A330-200s, with deliveries scheduled to begin in 2002 and continuing through 2008. Engine selections have yet to be announced. This order from ILFC takes total firm orders for the A320 Family to over 2,600 aircraft from more than 120 customers and operators, highlighting its tremendous worldwide appeal as the most modern single-aisle family on the market. The lessor's selection of the A330-200 takes A330/A340 Family sales to some 650 from over 60 customers and operators. LFC is Airbus' largest single customer and has placed orders for every aircraft type produced by the European manufacturer to date. This significant new order, coming just months after ILFC's recent purchase of 50 Airbus aircraft in May, takes the total number of Airbus aircraft in the leasing company's portfolio to 475.
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Lauda resigns from Lauda Air
Rücktritt von Niki Lauda
On Tuesday, 21st November, Niki Lauda announced his resignation as Chairman of the Executive Board of Lauda Air. As well as being the founder of Lauda Air, Mr. Lauda has also been the company's Chairman for many years. During this time the company has grown from its humble beginnings in 1985 with 2 aircraft and around 120 staff into the international carrier it is today, with a fleet of 25 aircraft, a staff of nearly 1,800 and a worldwide network of scheduled and charter services. At the end of 1998 the decision was taken within the Austrian Airlines Group to base the budgets on the dollar rates and fuel prices which prevailed at that time, which then was done. In early 1999 both the dollar rate and fuel prices began to rise dramatically, a development which was naturally also reflected in Lauda Air's operating results. Consequently, on 31st October 1999 Lauda Air showed a loss for the first time ever; however, if dollar rate and fuel prices had not skyrocketed to the extent that they did, the company would have again achieved a profit on 31st October 1999.
In October 2000 the Lauda Air Supervisory Board commissioned a special audit to be carried out by KPMG, whose report has just been brought to Mr. Lauda's attention. The report found no evidence whatsoever of any personal enrichment on Mr. Lauda's part, nor did it find any indication that any damages had been caused to Lauda Air. It did, however, express criticism of the internal control system for foreign currency transactions which comes under the area of responsibility of the Executive Financial Director. Mr. Lauda did not go into whether this criticism is justified, how it is to be evaluated, or whether any blame can be attached to him personally. Tuesday afternoon Mr Lauda said to his staff " I have always carried out my responsibilities to the best of my knowledge and belief and with absolute strength and commitment. However, as I have always maintained that I would resign my function if so much as a semblance of a reason should arise to criticise me as an individual, I herewith announce my resignation as Chairman of the Executive Board of Lauda Air."
As part of their duties as representative of the principal shareholder of Lauda Air Aviation Ltd's Supervisory Board and as presidents of the Austrian Airlines Group's parent company, Austrian Airlines' Presidents Herbert Bammer and Mario Rehulka took up position on Nikolaus Lauda's resignation as follows: Austrian Airlines' CEOs took note of the publicly announced withdrawal of Mr. Lauda as Chairman of the Board of Lauda Air Aviation Ltd. Furthermore the presidents of Austrian Airlines assume that the findings stated in KPMG's audit report combined with those from Deloitte & Touche's audit report prompted Mr. Lauda to make this move. Austrian Airlines will carry out - in their overall responsibility for the whole Group - a long-term, effective reorganization of Lauda Air Aviation Ltd, as well as the integration of the company in a newly designed group structure.
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Bell rolls out AH-1Z
Neuer Bell Kampfhubschrauber vorgestellt
The Marine Corps newest attack helicopter, the AH-1Z was rolled out Monday, November 20, 2000, in a ceremony at Bell Helicopter Textron's Flight Research Center in Arlington, Texas. The AH-1Z is part of the H-1 Upgrade Program. This program will remanufacture 100 UH-1N transport helicopters and 180 AH-1W Super Cobra attack helicopters to an advanced configuration featuring common engines and flight dynamic components. The H-1 Upgrade Program will result in 280 new aircraft for the US Marine Corps to operate beyond 2020. These will have "zero-time" airframes remanufactured with the latest technology. The speed, range, maneuverability and lift capability of both aircraft will be dramatically improved. The savings in maintenance training, ground handling, support equipment, and spare parts inventories add up to billions of dollars over the life of the program. Current advanced technology will provide the H-1 Fleet with increased battlefield survivability and greater mission success with fewer combat losses. In addition the crashworthiness of both the UH-1Y and the AH-1Z is significantly enhanced. Some of the upgrades include an enormous amount of commonality between the two aircraft (more than 85 percent). This includes the state of the art common glass cockpit, the GE-T700 engines, four blade all composite, hingeless, bearingless main rotor system and tail rotor, identical drive trains, hydraulics and electrical distribution systems. First flight of the AH-1Z is scheduled for December 2000, with the UH-1Y first flight scheduled for 2001. Deliveries to the US Marine Corps will begin in 2004.Back to the top of the page / Zurück zum Anfang der Seite
EADS establishes marketing organization
Neue Verkaufsorganisation für EADS
EADS (European Aeronautic Defence and Space Company) has established a fully integrated and new international marketing and sales organization only four months after the founding of the company. The new corporate entity is named EADS International and headed by Jean Paul Gut, Executive Vice President Marketing and Member of the EADS Executive Committee. EADS International has emerged from the combined marketing and sales strength of the three founder companies Aerospatiale Matra, CASA and DaimlerChrysler Aerospace (Dasa). The team is structured in regional directorates and central functions. In the past, each of these companies had its own international network. The marketing organizations and international networks of the French, German and Spanish industry leaders are now integrated in a business-oriented, highly competitive unit. "We are entirely dedicated to strengthening the EADS position in the global markets," says Jean Paul Gut. "Combining our joint forces is opening a new dimension of market strength for EADS. We are working closely with the divisions and business units to secure successful sales as well as profitable development worldwide. EADS International also gives us the opportunity to provide the customers with optimum pre- and after-sales service." Thirty-two EADS offices cover 70 countries, and in each country all the representative offices of the founder companies are now united under one roof. Sixteen duplicated offices have been combined and three new offices are being opened: in Chile, Oman and Venezuela.
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NEWS IN BRIEF / KURZMELDUNGEN
Ongoing risk mitigation efforts proved successful for a Lockheed Martin-led Theater High Altitude Area Defense (THAAD) team when they recently conducted a second successful test firing of a representative boost-motor at the United Technologies Corp./ Pratt & Whitney - Chemical Systems Division (CSD) facility located in San Jose, CA. According to program officials, all test objectives were met, demonstrating performance of the motor design at minimum operating temperature conditions (-32*C) after exposure to temperature shock cycling. In preparation for the test, the motor was exposed to three temperature shock cycles between the lowest and highest expected temperatures required for fielding. During a previous test in June, the boost-motor was successfully static fired at -32* C without temperature shock cycling. Additionally, these tests provided critical insight into boost-motor aging characteristics.+++
Boeing Sikorsky RAH-66 Comanche Prototype No. 1 will soon begin flight tests with a new empennage, or tail structure. Boeing has completed fabrication of a newly designed tail, consisting of vertical and horizontal stabilizers and new vertical endplates on the horizontal structure, for the Comanche. The new tail structure is a reconfigurable unit that permits adjustments of tail components to validate and optimize a final tail design for production. Technicians at the Comanche Flight Test Center in West Palm Beach will install the improved empennage for flight tests scheduled for mid-December. The new tails development is a pilot program to demonstrate the Comanche team's ability to meet stringent production cost and schedule requirements. It involved utilization of advanced digital virtual reality engineering design software that facilitated rapid fabrication and assembly of the composite and metal structure. Design changes, including the endplates on the horizontal stabilizer, have incorporated data-from test flights, computer modeling and wind tunnel simulations-that will improve the Comanche's flying qualities by increasing control response.
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After eight years on orbit, more than twice its planned lifetime, NASA will terminate operations of a bantam astronomy explorer in December that returned unprecedented results. The Extreme Ultraviolet Explorer (EUVE) spacecraft surveyed the universe by observing extreme ultraviolet (EUV) light. "We opened a new window on the cosmos with EUVE," said Dr. Alan Bunner, Science Director for the Structure and Evolution of the Universe program at NASA Headquarters in Washington, DC. "No one had thoroughly explored the heavens in the extreme ultraviolet before, and EUVE filled significant gaps in our understanding." Eventually, aerodynamic drag on the 7,000-pound spacecraft will cause it to reenter the Earth's atmosphere. Current predictions put EUVE's reentry sometime in late 2001 or early 2002.
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Bombardier Aerospace has celebrated a key milestone on its all-new super midsize Continental business jet program - the successful, on-schedule mating of the wing to the fuselage for the first aircraft (s/n #20001). The aircraft is now essentially complete, with the exception of its powerplant which will be installed shortly. "Today's wing mating is right on schedule and represents another important achievement in the Continental program," said John Holding,executive vice-president, engineering and product development, Bombardier Aerospace. "The program continues to proceed as planned and this first aircraft is on target to fly before the middle of next year." Certification is set for the third quarter of 2002 and the first 'green' aircraft delivery in the fourth quarter of that year.
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Boeing has welcomed SKY Airlines, an international charter carrier based in Cyprus, as the newest member of the Boeing Next-Generation 737 family of operators. SKY Airlines is part of the Libra Holidays Group, a well-known tour operator in the United Kingdom. SKY will lease two Next-Generation 737-800s from GE Capital Aviation Services (GECAS), a company of GE Capital. The airline will use the reliable jetliners when it begins operating regular charter flights throughout Europe in the spring of 2002. The airline's new network will include valuable flights between Cyprus, the UK and other major tour destinations in Europe.
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SaabTech Electronics, a business unit of Saab AB, has been awarded an order for Electronic Warfare equipment for the EF 2000 Eurofighter aircraft. An initial order for 300 BOL countermeasures dispensers, valued at MSEK 135, has been placed by Flight Refuelling Ltd, England, and may later be increased to 1200 units. Delivery is planned to start at the end of next year. BOL is a chaff and flare dispenser for aircraft self-protection currently used mainly against radar-directed gun or missile threats. The elongated dispenser houses a long stack of payload packs that are fed electromechanically towards the rear of the dispenser and released into the airstream to create large clouds of chaff or of an IR-radiating decoy source. BOL is currently in use with seven European air forces and the US Navy.
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BAE Systems has delivered the first Eurofighter Ground Proximity Warning System (GPWS) Line Replaceable Item (LRI). A total of 151 units will be delivered over the next four years to cover the Tranche 1 aircraft build programme. The delivery was made 21 months after the award of the development contract in January 1999 and only nine weeks after full approval of the production contract. The programme by the Manoeuvre & Guidance Systems business of BAE Systems Avionics Tactical Products at Plymouth, UK, involved the specification, development, build, integration and qualification of a new Eurofighter LRI to host a system based on the BAE Systems' TERPROM Terrain Referenced Navigation (TRN) system.
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Just 25 hours and 25 flights into its airborne test program, the Lockheed Martin Joint Strike Fighter (JSF) X-35A broke the sound barrier on Tuesday, Nov. 21, continuing an aggressive program of flight-envelope expansion. Test pilot Tom Morgenfeld lifted off from Edwards Air Force Base at 4:25 p.m. (PST) and took the X-35A to 25,000 feet altitude, achieving a speed of Mach 1.05. Earlier Tuesday, on the X-35A's 24th flight, Morgenfeld made six field carrier landing practice demonstrations, previewing the aircraft's low-speed carrier approach handling qualities in advance of upcoming tests with the second demonstrator, the X-35C. He said controllability in the carrier landing profiles was excellent as he followed glide slope cues from a Fresnel lens on the ground. With its flight testing complete, the X-35A, which first flew on Oct. 24, will return to Lockheed Martin's Palmdale, Calif., facility to be fitted with a shaft-driven lift-fan propulsion system. It will be renamed the X-35B and will begin ground testing in preparation for its short takeoff/ vertical landing (STOVL) demonstrations.
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Eutelsat, one of the world's largest satellite operators, has signed a contract with the Russian Satellite Communications Company (RSCC) for the purchase of 12 transponders on a new satellite (Express AM1) that will be delivered into orbit in early 2003. The contract was signed at Eutelsat's Paris headquarters in the presence of the Telecommunications Minister of the Russian Federation, Leonid Reiman, during the official visit to France by the Russian President Vladimir Putin. Under the agreement, signed by Eutelsat's director general Giuliano Berretta and Boris Antoniouk, director general of the RSCC, 12 Ku-band transponders of a total of 18 on the new satellite have been bought by the European operator from its position in geostationary orbit at 40 degrees East. The satellite's coverage in the Ku-band will enable Eutelsat to reinforce its presence in the south of Europe, North Africa, the Arab peninsula and the Indian sub-continent, where there are "exciting opportunities for developing new business".
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Saab has announced a Financial Risk Insurance Program which will isolate the performance of its existing portfolio from future risk and volatility in the regional aircraft market The insurers are a consortium of highly rated international insurance companies. Income guaranteed through insurance is USD 1,170 m. after deduction of a 10 % first loss borne by the insured. The transaction cost is USD 43 m. after tax and is covered by current provisions.The Saab aircraft lease portfolio consists of 302 Saab 340 and Saab 2000 aircraft on lease with 30 airlines world-wide. The insurance policy covers 203 Saab 340 and Saab 2000 aircraft. The 99 Saab 340 aircraft not included in the policy represent minimum exposure for Saab since 57 are funded with non-recourse long term loans and 42 are covered by asset value insurance issued by EKN, the Swedish government agency for Export Guarantees. The policy secures the deemed lease income for the 203 aircraft during the coming 15 years from market cycles, competition, obsolescence and customer default. The market value of the portfolio's contracted and expected lease income and the associated financing outflow obligations balance with the present provision.
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Two earth-observing satellites and a nanosatellite designed to gather space weather data were launched into orbit aboard a Boeing Delta II rocket. The rocket lifted off the launch pad at Space Launch Complex 2 at 10:24 a.m. PST, carrying spacecraft for NASA, Argentina, and Sweden. The two primary payloads were NASA's New Millennium Program Earth-Observing-1 (EO-1) satellite, plus Argentina's first earth-observing satellite, the Satelite de Aplicaciones Cientificas-C (SAC-C). The secondary payload was Sweden's Munin nanosatellite. Each spacecraft jettisoned on schedule: the EO-1 at approximately an hour after lift-off; the DPAF separable portion at approximately 1 hour, 10 minutes; the SAC-C at approximately 1 hour, 30 minutes; and the Munin at approximately 1 hour, 50 minutes.
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UK-based carrier Monarch Airlines has signed a firm order for five A321s, confirming an intent announced in July. According to the purchase agreement, the aircraft will be powered by V2500 engines from International Aero Engines. Monarch's new A321s, seating 220 passengers in a comfortable single class layout, will be operated on the airline's growing scheduled and charter network in Southern Europe, with first deliveries scheduled to begin in 2002. Monarch Airlines already operates a fleet of five A320s and three A321s on its Monarch Crown Services scheduled network from London Luton and Manchester to Spain and Gibraltar, in addition to its charter routes from Gatwick, Manchester, London Luton and Birmingham airports in the UK to Mediterranean resorts. It also operates four A300s and 2 A330s on routes further afield.
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Arianespace scored its second straight success in six days when Flight 136 placed the heavyweight Anik F1 satellite into geostationary transfer orbit. An Ariane 44L - the most powerful version of the workhorse Ariane 4 family - lofted the satellite in a perfect launch that lifted off at the opening of the evening launch window. Anik F1 was the largest single payload carried by an Ariane 4. Built by Boeing Satellite Systems, the 4,700 kg. Anik F1 uses the new Boeing 702 platform - which is equipped with 48 Ku-band and 36 C-band transponders for the Telesat application. Anik F1 will be positioned at 107.3 deg. West. Flight 136 was Arianespace's 11th of the year, and it maintained the rapid-paced mission manifest during the second half of 2000.
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Astrium will shortly (early 2001) usher in a new era in aircraft and satellite-based Earth Observation with the formation of the geo-information services subsidiary "InfoTerra". Dr. Klaus Ensslin, Member of the Board of Astrium, announced the ambitious plans for this new multinational company, in the presence of journalists in Friedrichshafen. Initially, the Friedrichshafen-based unit "Earth Observation Services" of Astrium, will be integrated into a new company, "InfoTerra GmbH", which will remain located in Friedrichshafen, Germany. In addition the British "NRSC Ltd" (National Remote Sensing Centre), a 100-percent subsidiary of Astrium, located in Farnborough and Barwell (UK), will be renamed "InfoTerra Ltd.". NRSC is already a leading supplier of geo-information products, with a 20 year history. Upon launch "InfoTerra" will immediately become a major player within the geo-information marketplace, with annual revenues in excess of 20 million Euro. InfoTerra, with a combined workforce of 190 employees, will operate under the stewardship of a joint pan-European management structure. On an international scale, InfoTerra will provide a unique fund of resources and expertise. Ensslin emphasises: "We want InfoTerra to rank among the leading providers of geographic information products and services, world-wide". "The expanding global requirement for aircraft and satellite-based remote sensing will generate a world-wide demand for InfoTerra products and services." Ensslin continued, "the Company's task would be to tap into this global market and to rapidly expand its position against international competition. After ten years, annual revenues in the order of several hundred million Euro are expected, mainly from the agriculture, forestry, oil and gas-exploration, telecommunications, mapping and security-policy markets."
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Counter to the speculation circulating among the media, the SAirGroup Board of Directors made no wide-reaching strategic decisions at its scheduled meeting. Although public expectations were high, no such decisions were scheduled for the meeting. The Board has a certain amount of understanding for the conjecture that preceded today's meeting. The current phase of industry consolidation places airlines under a great deal of pressure. This pressure is accentuated by high fuel costs, high dollar exchange rates and yield erosion. In the face of the ongoing shifts in the industry environment, the Board consistently weighs strategic options and investigates the opportunities and risks of various alternative scenarios. This is also what took place at today's meeting. The Board reserves the right to take action it deems appropriate to enhance the SAirGroup's position and has assigned Group Executive Management with the task of analysing various possibilities in greater detail. The Group's core airline strategy remains unchanged. Board Chairman Dr. Eric Honegger on today's meeting: "A sale of Swissair was not and is not an option open for discussion."
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Though only three years old, the Lufthansa Bombardier Aviation Service Center (LBAS) at Berlin-Schoenefeld has become Europe's leading provider of MRO services for Bombardier'sfleet of Learjet, Challenger and Global Express business jet aircraft. Barely three years after its founding on 19 November 1997, LBAS has gained yet another important customer, the well-known JetConnection Businessflight AG, launch customer for the new Bombardier Continental Super-Midsize Business Jet. Finding that LBAS fully meets its high quality and service standards, the Frankfurt firm is entrusting to it the complete servicing of its two Learjet 60 jets. Similar maintenance contracts have already been signed for 12 other aircraft, a notable mark of that customer's confidence in the new company.
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Frankfurt Airport (FRA) registered new monthly and daily cargo records in October 2000, continuing the strong surge in cargo activity seen throughout the year. Handling 151,193 metric tons in October 2000 -- more than any previous month -- FRA experienced a 13.3 percent jump in traffic over the same month in 1999. On October 15 (Sunday), FRA achieved a new absolute daily record of 6,253 metric tons -- breaking the 6,000-metric-ton level for the first time in the airport's history. Cumulative figures for January through October 2000 show that FRA handled 1,307,851 metric tons of airfreight or 12.2 percent more than for the corresponding 10-month period in 1999. Flughafen Frankfurt/Main AG (FAG) -- the Frankfurt Airport company -- expects robust cargo traffic for the rest of the year. Thus, FRA will be able to maintain its position as Europe's top ranked air cargo hub. In terms of cargo tonnage, FRAU ranked number one in Europe and number nine in the world in 1999.
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In preparation for its planned initial public offering (IPO) in early summer 2001, Flughafen Frankfurt/Main AG (FAG) is repositioning itself as an international corporate group under the new name "Fraport". The IPO is intended primarily to provide the necessary funding for the company's planned expansion of Frankfurt Airport and the expansion of global activities in the form of subsidiary companies, shareholdings and cooperative joint ventures. To create the foundation for repositioning FAG as a globally operating corporate group, the company has been developing a new corporate identity in recent months.
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Portway Handling de Portugal S.A. -- a recently founded joint venture of Flughafen Frankfurt/Main AG (FAG) and the Portuguese airport company ANA -- has landed its first ground handling contracts from passenger airlines. Spanair of Spain and French-based Corsair have contracted Portway to provide aircraft and passenger handling services. A partner of Lufthansa, Spanair flies three times per week between Frankfurt and Lisbon. Corsair, a holiday charter, is particularly important because it flies to all of the airports having a Portway station: i.e., Portugal's three major airports of Faro, Lisbon and Porto. Currently, Portway is negotiating contracts with other airlines. Founded in February 2000, Portway is 40 percent owned by FAG and 60 percent by ANA. Initially, Portway has been focusing on providing ramp and cargo handling services to cargo carriers, but it is now expanding to passenger airlines. The company currently employs about 300 people.
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