FLUG REVUE update: Week ending March 24, 2002

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UPDATE
Week ending March 24, 2002

+++ A400M launch imminent +++ Fairchild Dornier 728 rolls out +++ First production Tiger unveiled +++ ESA welcomes Galileo support +++ EADS presents excellent results +++ Tom and Jerry in orbit +++ News in brief +++

A400M launch imminent
Militärtransporter erhält Genehmigung

After months of haggling, the German Parliament's budget committee gave the go-ahead for the A400M program on March 20, deblocking the first 5,1 billion DM, which will allow an order for around 40 aircraft. Opposition and Green parties also voted in favour, after defence minister Scharping had changed his budget proposal, namely erdaicating a pledge to reimburse partners if Germany does not go ahead for its full 73 aircraft buy. The Chief Executive Officers of EADS, Philippe Camus and Rainer Hertrich, commented on this decision, saying: "We are pleased that the budget committee has now given its approval for the A400M." This provides further clear proof that there is a broad political consensus on the necessity for Germany to procure 73 military transport aircraft and on the European A400M program in general. "Much too little notice was taken of this political consensus during the discussions of the past weeks, but precisely for this reason we have always been convinced that the decision would be in favor of the program," stated Hertrich and Camus.
On March 23, NATO defence ministers reviewd the German compromise to finance part of the project. "The German government submitted its compromise formula to us. The defense ministers concerned studied the proposition and gave their green light to the proposed solution," , Spanish Defense Minister Federico Trillo said. Belgian Defense Minister Andre Flahaut called the A400M "a test project for Europe. If we don't succeed, it will be a step backwards for Europe with regards to defense." The first test flight is expected in 2006, followed by deliveries from 2008

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Fairchild Dornier 728 rolls out
Vorstellung der ersten 728 in Oberpfaffenhofen

The first Fairchild Dornier 728 was presented to the public for the first time on March 21 at the company's facilities in Oberpfaffenhofen. Several hundred employees and guests from industry, government and the news media attended the debut of the most modern small airliner in the world. The aircraft is scheduled to make its maiden flight this summer, with first deliveries to Lufthansa set for next year. Additional members of the 728 Family are currently in development. They include the 85-110-passenger 928 and the Envoy 7, the corporate version of the 728. Eight customers, among them Lufthansa, GECAS, Bavaria Leasing, CSA and SolAir, have already placed firm orders for a total of 125 aircraft and signed options for an additional 164. This brings Fairchild Dornier's order book, including the company's 32-seat 328JET, to $11.7 billion.
The company last month said it plans to deliver an extended range version of the new 728 -- known as the 728-200 -- as early as the end of next year. The decision is in response to recent discussions with customers who have indicated a desire to see additional payload/range capability in both the 728 and 928 aircraft. With an increase of nearly three tons in the maximum take-off weight, the 728-200 will have a range of roughly 1,800 nautical miles (3,300 kilometers), which is an increase of some 400 nautical miles (750 kilometers) compared to the 728-100 base version. The reasons for the early development of the 728-200 version lie on the one hand in the clearly increasing trend towards more non-stop flights in Europe and the U.S. On the other hand, airlines in Asia, South America and Australia need to offer economically viable routes that are not so heavily utilized but are frequently over long distances.

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First production Tiger unveiled
Serien-Tiger vorgestellt

In the presence of more than 500 guests from politics, armed forces, industry and media from all over the world, the roll-out of the first production Tiger in UHT configuration (Unterstützungshubschrauber Tiger, i.e. Combat Support Helicopter Tiger for the German Army) took place at Eurocopter's German facility in Donauwörth on March 22, 2002. Klaus-Guenther Biederbick, Federal German Secretary of State for Defence, and Yves Gleizes, French Delegue General pour L'Armement, emphasized, at the roll-out ceremony, the excellent cooperation between Germany and France in this programme on the political, military and industrial levels which lead to this remarkable success. The two nations jointly developed a high technology product of superior technical quality which will support the German and French armed forces in meeting the challenges posed by the geostrategic situation after the collapse of the Warsaw Pact with the most advanced combat helicopter in the world today. Jean-Francois Bigay, President of Eurocopter, thanked the representatives of the German and French governments for their continued support of the Tiger programme. The Tiger was foundation and cornerstone of the Franco-German helicopter manufacturer, Eurocopter, and ensures a leading position in the world market for the company and its suppliers, and a substantial improvement of international competitiveness for the European industry. "Tiger's first export success, the order placed by the Australian government at the end of last year, underscores the superior technical standard of the Tiger weapons system", stated Bigay.
The Tiger programme has a total volume of 3.9 billion Euro (development, industrialisation, production), this being the Eurocopter share and excluding engines which are contracted separately. It is split on a 50:50 basis between Germany and France. Over the next ten years, it secures more than 2,000 highly-qualified jobs in the European helicopter and equipment industry.

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ESA welcomes Galileo support
EU supports Galileo GPS

"Space can do a lot for European citizens. Our global satellite navigation system Galileo is now only a step away from taking wing and fly high", said Antonio Rodotà, the Director General of the European Space Agency, welcoming the conclusions of the European Council held on 15 and 16 March in Barcelona, and echoing the appreciation expressed by the ESA Council.The European Council met in Barcelona for its second annual Spring meeting to take stock of the economic, social and environmental situation in the Union. In the field of transport, the Heads of State or Government welcomed the progress on Galileo and asked the Transport council, scheduled to gather on 25-26 March in Brussels, to take the necessary decision regarding both the funding and launching of this programme, developed with ESA on a 50-50 fund sharing basis. The Galileo satellite navigation system, constituted a major topic for decision at the European Space Agency's ministerial Council in Edinburgh last November. In that occasion, the ministers in charge for space activities in Europe agreed funding for the Galileo development and in-orbit validation phase, subject to the EU Transport Council to approve the Galileo programme.
Meanwhile, an interim structure dubbed GISS -for Galileo Interim Support Structure- and consisting of some 30 highly qualified international staff located in Brussels, has been put in place to ensure that the technical development of Galileo is coherent with the user requirements. The preparatory development activities have been intensified over the last few months with the European space industry, but also with the application and service industries.

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EADS presents excellent results
Ergebnisse der EADS sind gut

EADS European Aeronautic Defence and Space Company outperformed all its financial targets in 2001. Revenues growth of 27% exceeded the 20% goal and 21% growth of EBIT pre-goodwill amortization and exceptionals surpassed the 15% target. Free Cash Flow was around E 0.8 billion and the value-added through synergies contributed more than E 100 million to EBIT, exceeding the 2001 target of E 60 million, as the world's second largest aerospace and defence company announced in Amsterdam on Monday. The EADS CEOs, Philippe Camus and Rainer Hertrich, said: "We are proud that EADS outperformed its financial targets for 2001. We were able to enter 2002 with solid financials, and we have taken decisive actions to preserve cash and profits in a challenging business environment. EADS remains very strong and we assign ourselves the task to again deliver in 2002 at least what we promise, despite remaining market uncertainties."
EBIT return on revenues amounted to 5.5% in 2001, compared to 5.8% in 2000, due, as expected, to the increase in self-financed Research and Development (R&D), mostly dedicated to the continuation of the A380 programme and to the final phase of the A340-500/-600 development. Before expenses for self-financed R&D, EADS has reached an EBIT margin of 12.1%, up from 11.3% in 2000.
For 2002, due to the difficult business environment, EADS expects revenues to decrease by about two percent at constant US-Dollar exchange rates. The decrease, which is mainly due to lower deliveries at Airbus (with 300 aircraft targeted in 2002, as a result of 11 September, after 325 delivered in 2001) will be partly offset by higher contributions from non-Airbus businesses. Additional steps have been taken to maintain in 2002 the pre-R&D EBIT margin at the 2001 level of around 12%. This target includes improved performance in the Space and the Defence and Civil Systems Divisions, additional value creation from synergies (E 300 million targeted for 2002, compared to more than E 100 million achieved in 2001) and additional company-wide cost savings plans.
EADS plans an increase in R&D costs of about E 0.4 billion, mainly due to the A380 programme. By taking into account this R&D increase, the lower delivery rates of Airbus, and the assessment of market risks, while at the same time initiating further actions to reduce costs, EADS expects a 2002 EBIT of about E 1.2 billion.

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Tom and Jerry in orbit
Start der Grace-Satelliten

On Sunday, March 17, 2002, at 10:21 a.m. (CET), the Grace satellites were launched by a Rockot (Russian word for racket) launcher. For five years, the research satellites built by Astrium GmbH (Friedrichshafen) for NASA/JPL are scheduled to investigate the Earth's gravity field from a polar orbit at a height of approx. 500 kilometres. The name Grace stands for Gravity Recovery and Climate Experiment. About 90 minutes after their launch from the cosmodrome, which lies about 800 kilometres north of Moscow, both Grace satellites separated from the launcher's upper stage. Subsequently, the two research satellites dubbed Tom and Jerry by the Astrium space engineers "established contact " to the ground station in Weilheim/Germany. "The successful start of the Grace mission underlines our new approach for a more flexible and cost-effective design of the satellite missions by standardisation and new management and test methods", stated Alfred Setzer, Astrium director for Earth Observation and Science to journalists in the German Space Operation Control Centre GSOC in Oberpfaffenhofen. "With contract awarding by NASA/JPL, we were able to further open the gateway to the export markets".
The Grace twins will circle the Earth at a distance of 220 kilometres from one another. With a size of approx. 3 x 2 x 1 metres and a mass of 480 kilograms, both satellites will constantly and precisely (several thousands of millimetres) measure the distance between them. As this distance changes under the influence of the Earth's gravitational field, this method allows the measuring of our planet. During the five-year mission, the measurements will provide an updated model of the terrestrial gravity field every thirty days. In addition, each satellite is to provide daily up to 200 temperature distribution and water vapour concentration profiles in the atmosphere and ionosphere.

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NEWS IN BRIEF / KURZMELDUNGEN

Boeing has signed an agreement to sell its ordnance business located in Mesa, Ariz., to ATK (Alliant Techsystems) of Edina, Minn., pending regulatory approvals. Under the agreement, ATK will operate the ordnance business in Mesa and will assume ownership of the facilities and other assets associated with this business.Each of the approximately 50 employees who support the business will be offered an opportunity to transfer to ATK when the sale is final. The ordnance business is part of Boeing Military Aircraft and Missile Systems.
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India has delivered its first advanced light helicopter to the country's Coast Guard ten years after the prototype made its maiden flight, officials said on Monday. The helicopters, designed and manufactured by state-owned Hindustan Aeronautics Limited (HAL) at a cost of 5.4 billion rupees (114 million dollars). "As usual I feared we were going to fail a couple of years ago," HAL chairman NR Mohanty said of the delay in producing the helicopters, which cost 250 million rupees (5.1 million dollars) each. The prototype of the Army version was first flown in 1994 and officials said the Army, Navy and the Air Force would receive the helicopters within a couple of months. "Compared to any other helicopter in its range, this is the cheapest as others will cost more than one million dollars above the cost of our helicopter," said Ashok Baweja, HAL's director of design and development.
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On March 18, Boeing delivered a 757-300 to Icelandair, the Icelandic carrier with an all-Boeing 757 fleet. Icelandair currently operates nine 757-200s and one 757-200 Freighter. With the addition of the 757-300, Icelandair becomes the first carrier in the world to operate all models of the 757 simultaneously. Icelandair also becomes the first airline to operate a dual-class 757-300 in the European market. The airplane will carry between 215 and 228 passengers, depending on configuration.
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Bombardier Aerospace announced that Malev Hungarian Airlines of Budapest, Hungary has placed a firm order for two Bombardier CRJ200 ER (Extended Range) regional jets. The airline took options on an additional six Bombardier CRJ aircraft. Malev is the 14th European airline to order the trend-setting regional jetliner and delivery of the two aircraft is scheduled for June and July 2002.
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IATA's Freight Forecast 2001-2005 Special Interim Edition highlights the reduction in freight volumes in 2001 - through the slowing of economic growth and 9/11 effects - and anticipates an earlier recovery for freight than for passenger traffic, with all major markets forecast to grow in 2002. It reveals the scale and shape of the recovery expected from 2002 onwards. This new forecast compares current views with the initial five year forecast made in September 2001. Some key findings include: Over the period 2001-2005 the regions with the highest average annual growth rate (AAGR) are Europe to/from Africa (at 3.8%), and Europe to/from the Far East (at 3.6%); over the period 2002-2005 the Trans-Pacific region is forecast to have the highest AAGR, at 6.3%. This includes growth in excess of 7% from 2003 onwards. The AAGR for total scheduled international air freight is 2.0%, down from 3.9% in the original 2001 forecast. This growth is made up of a clear decline in 2001, then a recovery which starts in 2002 and peaks in 2003 before stabilising. IATA now projects the annual tonnage carried on international scheduled services to reach 20.8 million tonnes in 2005.
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Boeing has delivered ahead of schedule the wings for the first F-22 production aircraft to team partner Lockheed Martin. The two 2,000-pound titanium and composite structures were delivered last week and will be mated with the plane's fuselage in Marietta, Ga., later this month. The ahead-of-schedule delivery is another positive result of Boeing's ongoing lean manufacturing efforts. In late 1999, Boeing began using a new wing-assembly tool, which has improved quality and reduced the time it takes to build a set of wings.
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A 747-400 freighter for China Airlines became the 1,300th 747 to roll out of the Everett, Wash., factory. The airplane is the ninth of 13 ordered in 1999 by China Airlines. It was the largest 747-400 Freighter order in Boeing history.
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Antonio Rodotà, ESA's Director General and Philippe Busquin, Research Commissioner and responsible for space policy, opened the first meeting of the GMES Steering Committee in Brussels. This meeting brings together, for the first time, the users and suppliers of GMES services and technologies. The Steering Committee will assist in implementation of the joint ESA/EU action plan on Global Monitoring for Environment and Security (GMES). The goal set by ESA and the European Union is to develop and bring into operational service by 2008 an autonomous European global monitoring capability for environmental and security purposes. The GMES initiative aims to federate Europe's activities in satellite observation and remote sensing, in support of public policies. GMES targets improved use of Europe's existing and planned capabilities and infrastructures and development of mechanisms for collecting and distributing data in support of European policy goals in various fields, such as the environment, development cooperation, civil protection and the fight against fraud. GMES features prominently in the Aeronautics and Space priority in the Community's Sixth Research framework programme (2002-2006). Applications include such activities as monitoring the global environment, detecting natural disasters, managing mass movements of refugees.
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John Murphey, chairman and CEO of Bell Helicopter, stated that he wants to set the record straight with respect to the BA609 program. First, the program has not been cancelled. When the BA609 program was started in 1996, it was planned and scheduled to follow the V-22 program. The management team that started this program believed then, and I believe today, that the V-22 must lead tiltrotor technology into the marketplace. It was anticipated that we would be completed with V-22 development and operational testing and in full-scale production by now. The accidents and resulting test requirements have delayed full-scale production for several years. Now, after more than a year of not flying, the V-22 will begin flight-testing in the next couple of months at the Navy's test facilities at Pax River. I have every confidence that the V-22 will have a very successful flight test program. This new test program will continue through 2004 and we anticipate receiving authority for full-scale production in 2005. In the meantime, we will continue to build V-22's at approximately 12 per year. I remain convinced that it is important that the V-22 program remain in the lead. I don't believe a commercial version can be successful in the market until the V-22 completes this latest round of testing. In order to allow the V-22 to remain the lead program, we have slowed the development and certification schedule for the BA609. This was my decision. It was not Textron directed. I think this decision is in the best interest of our company and the future success of any commercial tiltrotor program. I have confidence in tiltrotor technology. I believe the advantages of speed, range and payload that this technology offers Marines and Special Operations Forces will be attractive to several segments of the commercial market. We simply need to make sure that any commercial introduction follows the V-22's success. It is still our plan to fly the BA609 later this year and keep this technology ready for expansion into other markets at the right time and as opportunities arise.
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Test pilots and engineers reached a milestone over New Mexico March 13 that they hope will help bring uninhabited aircraft safely into the national airspace. A test airplane remotely piloted from the ground detected another approaching airplane, enabling the ground controller to successfully maneuver the remote aircraft away from a collision course. "We believe this is the first time a remotely piloted airplane has been maneuvered away from a collision course based on onboard sensors detecting a collision potential," said NASA project manager Jeff Bauer. The New Mexico test flights used the futuristic Proteus aircraft as the remotely piloted vehicle as several other test airplanes, including a high-speed NASA F/A-18 jet, approached from various angles to give sensors on Proteus the opportunity to detect the presence of aircraft on collision courses. Proteus relayed information to the ground controller at the Las Cruces, N.M., airport, who had sufficient data displayed on a computer screen to enable him to pick a safe new course for Proteus.
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Boeing unveiled its Technology Demonstrator airplane. The aircraft, a 737-900, has been outfitted with a suite of new and emerging flight deck technologies to assess their value for enhancing safety, capacity and operational efficiency across the Boeing fleet of airplanes.In the coming weeks, the company will demonstrate the technologies' capabilities to airlines, government regulatory agencies and the media. "The objective of these demonstration flights is to show Boeing's leadership in bringing aircraft to market with leading-edge technologies that enhance safety and efficiency," said Hank Queen, vice president of engineering and product integrity for commercial airplanes. "The Technology Demonstrator is a forum to evaluate these benefits to our customers and the flying public." Technologies onboard the airplane include: Quiet Climb System (QCS) - Reduces community noise and pilot workload during takeoff by consistently and automatically reducing thrust over noise sensitive areas. (Boeing product); Vertical Situation Display (VSD) - Enhances safety by displaying the vertical profile of the airplane's flight path. Indicates the presence of terrain in the current flight path. (Boeing product); Navigation Performance Scales - Can minimize flight delays and increase airspace capacity by allowing the airplane to navigate through a much narrower flight path with higher accuracy. (Boeing product)
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A 23rd Fighter Squadron pilot here died March 20 in an F-16 Fighting Falcon crash. Capt. Luke A. Johnson, 26, from Powell Park, Wyo., was on a training mission when air traffic controllers here lost radio and radar contact with him at about 9 p.m. Central European Time. The aircraft crashed in a flat, wooded, unpopulated area along a logging road near Lanscheid, Germany. There were no injuries or apparent damage to personal property on the ground. At the time of the accident, visibility in the area was 5 miles with light rain and fog.
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The Royal Air Force of Oman (RAFO) has selected GE's F110 fighter engine to power its new fleet of 12 Lockheed Martin F-16 aircraft in an engine contract valued at more than $50 million. Oman becomes the 10th country to select the F110 engine family for its F-16 fighter fleet. More than 2,500 F110 engines have been ordered worldwide since the engine was first selected by the U.S. Air Force in 1984. Oman selected the F110-GE-129 model (rated at 29,000 pounds of thrust), which first entered operational service with the USAF F-16 fleet in 1992. F110 engine deliveries to the RAFO will begin in 2004.
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Frontier Airlines is placing an order for two Airbus A319 aircraft. The newly-ordered planes will both be delivered in December 2002 and come in addition to Frontier's previously ordered and optioned Airbus aircraft.
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Boeing's 767 program is changing the way it builds airplanes. The program moved a 767-400ER (extended range) jetliner, shown here in a nose-to-the-door configuration, to simulate how airplanes will be built in the future in the factory in Everett, Wash. Use of a moving line allows the jetmaker to improve quality, reduce costs, while shortening the time it takes to deliver airplanes to its airline customers. The moving line and related changes were adapted from automotive lean manufacturing methods in Japan. And while moving lines in airplane production are not new, what is new is the fusion of moving lines with lean manufacturing techniques. A continuously moving assembly line slowly moves products from one assembly team to the next. This technique keeps production moving at a steady pace, allowing employees to gauge status at a glance and reduce the amount of work-in-process inventory.
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An important step forward for the Eurofighter Programme has been achieved on the 13^th of March 2002. The Italian prototype DA3 has performed two shots of gun firing on ground at the Airbase of Decimomannu in Sardinia. All the aircraft systems worked correctly throughout the test and the operational test procedure that includes also all the safety aspects of the trial proved its validity and effectiveness. The gun shots did not cause any problems to the aircraft systems that continue to work as expected. he complete set of FTI parameters for the gun vibration survey (more than 100) were successfully recorded in real time.
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The Patriot Advanced Capability-3 (PAC-3) Missile successfully intercepted and destroyed an incoming tactical ballistic missile (TBM) target at White Sands Missile Range, N.M., on Thursday. This was the second Operational Test of the PAC-3 system. Soldiers from the Second Battalion of the 43rd Air Defense Artillery Regiment, Ft. Bliss, Texas, conducted launch operations for the test. In addition to the PAC-3 intercept of the TBM, a PAC-2 missile was fired at an air-breathing target.
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When Florida's next wildfire season begins, the Florida National Guard will be armed with a new tool to combat wildfires throughout the state. In fiscal year 2003, the both the Florida and California National Guards will receive UH-60L Fire Hawk helicopters. "Only the Oregon National Guard has one, Florida and California will receive one concurrently," Maj. Dave Gereski, of the Florida National Guard Bureau's aviation office said. The aircraft is scheduled to arrive in Florida sometime after October 2002, just in time for the busy wildfire season that normally runs from December to June.
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An airborne surveillance radar for mounting on Advanced Light Helicopter (ALH) has been developed. The radar can detect airborne and sea surface targets. The radar is ready for mounting on ALH. The availability of the helicopter and the user trials are expected to take a year with productionisation likely to start in 2004. In the field of radars, the other technologies developed are: airborne scanner system, slotted wave guide antennas, signal processing for detection of sea targets against sea clutter, man portable battle field surveillance radar for detection of moving targets on ground and 3 Dimentional transportable/mobile surveillance radar for airborne targets.
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In response to areport in the German newspaper Handelsblatt, Fraport AG explained that no funds from the company's initial public offering (IPO) have flown into the terminal project in Manila, the Philippines. Rather, the IPO proceeds were invested or used for debt repayment. Since the end of 2000, Fraport AG has not made any additional funding available to the Piatco project company in Manila. The auditing company KPMG prepared an evaluation of the Manila project's risk position as of the end of 2000. Fraport AG has taken the study's recommendations into account as far as possible. Fraport AG stresses that the contracts for building and operating the international terminal in Manila were signed in 1999 with the elected government at that time and are legally binding under international law. Currently, Fraport AG is involved in intensive negotiations with its partners in Piatco and the Philippine government, with the goal of fulfilling the requirement for paying out the financial package agreed with an international banking consortium. Fraport AG will only be prepared to make further funding available for the terminal project, if certain framework conditions are fulfilled.
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Lufthansa is responding to the increase in demand in its summer timetable with the operation of 370 additional flights, in other words, 55,000 seats per week, and the initiation of three new services – from Munich to Boston, Shanghai and Tokyo. In total, seat capacity offered will be increased as of 1 April by around seven percent compared to the winter timetable, but will thus still be almost ten percent below the level of the 2001 summer timetable. In order to be able to offer the additional flights, ten of the 43 aircraft which were taken out of service last fall will be reactivated and two new Airbus A340-300s will go into operation. Five of the aircraft will fly in continental traffic and seven in intercontinental traffic. In the event of a continuing market revival, Lufthansa will respond flexibly and, if necessary, continue to adjust capacities at short notice. In total in its summer timetable, Lufthansa is offering flights to 327 destinations in 89 countries. From Frankfurt, the airline's intercontinental hub, in summer Lufthansa will be offering more flights to the USA. The cities of Atlanta, Dallas, Detroit, Houston and Philadelphia will again be served daily then. The routes to Boston, Chicago, Los Angeles and Washington D.C. will be served by additional daily flights. As far as the Middle East, Africa and Asia are concerned, Lufthansa is also further increasing its frequencies. For the first time, as of April, Tehran and Mumbai/Bombay will be served with daily flights. Once again, Lufthansa aircraft will depart twice a day for Cairo. From there, Khartoum and Addis Abeba will each be served four times a week, and six times a week there will be a service to Asmara. In addition, there are additional flights to Amman, Beirut and Larnaca.
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The increase in the operating revenue of the Austrian Airlines Group is essentially due to the effects of the consolidation of Lauda Air. When adjusted to account for the effect of this change in the scope of consolidation, operating revenue declined, which can be traced back to the generally negative operating environment. The result from operating activities (EBIT) is expected to be minus EUR 88.9 million, which is significantly below the comparable value for the financial year 2000. The result from operating activities before interest, depreciation and rentals (EBITDAR) is expected to total EUR 219.6 million, or EUR 173.5 million down on the comparable result for 2000. At minus EUR 164.1 million, the profit before tax is below the comparable figure for the previous year of EUR 41.0 million. This is primarily due to the income from disposals of aircraft having declined in comparison to the previous year as a result of the crisis. The expected deviation from the forecast published on 13 November 2001 (together with the result for the 3rd quarter of 2001) of an EBIT of approx. minus EUR 74 Mio. resp. of a profit before tax of around minus EUR 150 million is the result of additional provisions for aircraft valuation and technical maintenance. The need to increase these provisions emerged in the course of the preparation of the financial statements in recent months, due in particular to dynamic developments in the aircraft market. Hence, provisions have already been made in the 2001 accounts for these future expenditures. The forecast for the 2002 financial year, to breakeven on an EBIT-level, continues to be the objective of the company.
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Eurocopter announced that its Cougar Mark 2 cannot meet the requirements laid out for the helicopters and will no longer be in the running for a Canadian contract. Olivier Lambert of Eurocopter said that the Department of National Defence has been asking for more and more equipment on the helicopter, pushing the Cougar out of contention. "Progressively, this has put the Cougar outside of the range of the aircraft that could satisfy these requirements," he said in an interview. Mr. Lambert said DND wants the helicopters to be able to carry all equipment at once on any given mission. In addition, NHIndustries said that it wants the government to show flexibility before it commits to the competition, which Ottawa would like to close by the end of the year.
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The IATA Board of Governors, at a special meeting held on 20 March, unanimously approved the appointment of Giovanni Bisignani as its new Director General and Chief Executive Officer. Mr Bisignani will join IATA on 13 May, 2002 as Director General-designate. He will officially take over from the incumbent, Pierre Jeanniot, immediately after the IATA Annual General Meeting to be held June 3-4 in Shanghai, China - subject to the approval of that Meeting. For the past 15 months, Mr. Bisignani has served as President & CEO of Opodo, the airline-owned leading online travel portal in Europe. He has provided highly focused and inspired leadership, taking Opodo from concept to reality - resulting in highly successful market launches in Germany, the UK and, in April, France.
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Boeing announced that it has been selected by the Defense Advanced Research Projects Agency (DARPA) as the prime integrator to perform Phase II of the Orbital Express Advanced Technology Demonstration. Under the 42-month $113 million agreement with options, a Boeing Phantom Works team will finalize the design, fabricate and demonstrate the various technologies required for autonomous satellite servicing while on-orbit. "We are elated with our selection and are keenly interested in perfecting this capability," said Ron Prosser, vice president of Advanced Space and Communications for Phantom Works. "By developing Orbital Express we will have a tremendous capability to improve the performance, maneuverability and potential upgrade of both military and commercial satellites. This leads to significant opportunities to repair satellites, or move stranded satellites to their correct orbits, saving hundreds of millions of dollars in replacement costs."
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Raytheon Company has completed the formation of a joint venture between its fractional aircraft ownership business, Raytheon Travel Air (RTA), and Flight Options Inc. The new company, Flight Options LLC, will have more than 1,600 customers and a fleet of approximately 200 aircraft, and will be based in Cleveland, Ohio. The joint venture was first announced on Dec. 20, 2001. Under terms of the agreement, Flight Options holds 50.1 percent ownership of the new business with Raytheon holding 49.9 percent. Raytheon Aircraft Company (RAC) also has a contract with Flight Options to supply 115 new business jets over five years in a transaction worth approximately $900 million.
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The Naval Air Systems Command released a request for proposals for the Multi-mission Maritime Aircraft (MMA) Component Advanced Development (CAD) work effort. MMA is an ACAT1D program intended to recapitalize the capabilities currently provided by the P-3C and EP-3E. The purpose of CAD is to define the MMA system architecture, quantify and reduce MMA system risks and develop detailed plans and schedules for development of each MMA system alternative. The MMA effort began in 1998 as an OPNAV funded requirements analysis and feasibility study. This study provided the basis for the program mission need statement, which was validated by the Joint Requirements Oversight Council on Feb. 29, 2000. Shortly thereafter on March 22, 2000, MMA received Milestone 0 approval for entry into Concept Exploration (CE). Principal CE activities consisted of an Analysis of Alternatives directed by the Center for Naval Analysis, and four funded industry concept studies. CE activity continued through 2001, and concluded with USD (AT&L) approval on Jan. 18, 2002 for MMA to enter CAD. CAD will continue until Milestone B, projected for the first quarter of FY04, at which time the System Development and Demonstration phase will commence. MMA initial operational capability is planned for the FY2010-12 timeframe.
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