FLUG REVUE update: Week ending July 20, 2003

UPDATE
Week ending July 20, 2003

+++ Eurofighter signs initial support contract +++ Boeing fires more workers +++ X-31A team receives award +++ Boeing writes down satellite business +++ MEADS submits proposal for D&D +++ Loral files for Chapter 11 +++ Lockheed celebrates F-16 'Peace Caesar' delivery +++ News in brief +++

Eurofighter signs initial support contract
120 Mio. Euro für Eurofighter-Unterstützung

Eurofighter GmbH announces the signature of a contract that covers in service support services for an Initial Operational Phase. The contract, designated PC11, is valued at more than Euro 120 million in this first phase. The Eurofighter Typhoon support concept is based on a close collaboration between industry and partner air forces. It sets out to provide a unique and highly responsive support network that will significantly reduce the cost of ownership of the weapon system. The provision of ILS support services through PC11 is another example of this partnership at work. The PC11 contract defines a range of activities and services to be provided by Eurofighter to support the operation of the Eurofighter Typhoon Weapon System during the in-service Operational Phase 1A (Learning Phase). The contract also includes a description of activities which need to be carried out to prepare for future Operational Phases.
The work covered by this contract is an integral part of the Customer's requirements for Integrated Logistics Support (ILS) for the Eurofighter Typhoon Weapon System. In-Service Support Services: Design Authority Services (DAS) - The management and preparation of modifications under discrete task conditions, engineering tasks and sustaining activities. This work must be undertaken by the Design Authorities (DA) in order to maintain the airworthiness, safety, integrity and configuration control of the Eurofighter Typhoon Weapon System. Technical Logistics Services (TLS) - These services provide technical assistance to the Partner Air Forces for their chosen operational and maintenance concepts. Although DA knowledge is desirable to undertake these services, it is not essential. Supply Logistics Services (SLS) - These services embrace the authorized management and execution of provisioning, procurement and progression of support items (including spares) to guarantee the operational capabilities of the Weapon System not already covered by existing contracts. --Integrated Logistics Support Services (ILSS) Provide analysis of the support implications resulting from changes beyond the Full Operation Capability (FOC) standard of the Eurofighter Typhoon Weapon System. This includes related items of Support Equipment, review of support arrangements in the light of in-service experience and development of plans to deliver consistent and compatible support items.

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Boeing fires more workers
Weitere Entlassungen bei Boeing

Boeing Commercial Airplanes announced it will reduce employment by an additional 4,000 to 5,000 people by the end of 2003 due to continued weakness in the commercial airline industry. The reductions will be accomplished through layoffs and attrition. These are in addition to the 5,000 employment reductions for this year Commercial Airplanes forecast in November 2002. Commercial Airplanes estimates that its year-end 2003 employment total will be between 55,000 and 56,000 people. This total includes approximately 800 employees who left the company with the recent divestiture of a facility in Corinth, Texas.
"This is an unprecedented and very difficult time for all of us in the commercial aviation business," said Alan Mulally, Boeing Commercial Airplanes president and CEO. "While we are optimistic about the long-term outlook for the industry, many of our airline customers continue to face significant challenges as they struggle to recover their financial health and regain the ability to order new airplanes and related services. These actions are extremely painful for all of us at Boeing. We recognize and appreciate everything that employees affected by this decision have done for our company."

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X-31A team receives award
Auszeichnung für X-31-Team

The X-31A team -- past and present -- received the von Karman award from the International Council of the Aeronautical Sciences (ICAS) at a ceremony in Dayton, Ohio. The award -- founded by ICAS in 1980 in memory of the Theodore von Karman, a proponent of international collaboration in aeronautical sciences – is in recognition of the outstanding technical achievements of the multi-national X-31 team since the late 1980's in designing, building and flight demonstrating the X-31A, the world's only international experimental aircraft to date.
Designed with a thrust vectoring control system to make the aircraft more highly maneuverable, the single-seat, X-31A demonstrated its improved capabilities in two major multi-national flight test programs -- the Enhanced Fighter Maneuverability (EFM) program (1990 –1995) and the Vectoring ESTOL Control and Tailless Operational Research (VECTOR) program (April 2000 - May 2003). The EFM program comprised Boeing, DARPA, the U.S. Navy, NASA, Germany's defense procurement agency (BWB) and the European Aeronautic Defence and Space Co. (EADS). For the recently completed VECTOR program, Boeing Phantom Works teamed with the U.S. Navy, BWB and EADS.
“The X-31A was a success in all categories, from important research results gained to developing low cost prototyping processes, but in particular in demonstrating two extremely successful international research and development collaborations,” said Mike Heinz, acting vice president of Boeing Phantom Works Integrated Defense Advanced Systems.

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Boeing writes down satellite business
Hohe Abschreibungen im Satellitengeschäft

Boeing announced today as a result of continued weakness in the commercial space launch market, higher mission and launch costs on its Delta IV program, and cost growth in its satellite businesses, the company will recognize pre-tax charges of approximately $1.1 billion, or $0.87 per share, when it announces second quarter results on July 23. Approximately $835 million, or $0.66 per share, of the charges are attributable to the company's Delta IV program and primarily reflect the company's updated -- and significantly lower -- assessment of global demand for launch services. The lower program base reduces the profitability of currently contracted launches. The charges also reflect higher mission costs, primarily related to government launch requirements. Approximately $265 million, or $0.21 per share, reflects the loss to be reported by Boeing Satellite Systems for the quarter due to higher cost estimates to complete several satellite programs and write-downs of commercial inventory that recognizes current market conditions.
Approximately $135 million of the total charges are non-cash depreciation and inventory adjustments, as noted in the detailed discussion below. The cash outlays associated with the remaining $965 million of charges will be incurred over the next seven years as the affected launch vehicles and satellite programs are completed and delivered.

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MEADS submits proposal for D&D
Angebot für MEADS-Entwicklung

MEADS International (MI) has submitted its business management proposal to begin the Design and Development (D&D) phase of the Medium Extended Air Defense System (MEADS). Submitted to the NATO MEADS Management Agency (NAMEADSMA) in Huntsville, AL, the proposal culminates five months of activity to provide cost and management information to develop MEADS, the advanced air and missile defense system for Germany, Italy and the United States. The D&D contract is planned to begin in 2004 and would extend the program, currently completing the Risk Reduction Effort phase, for seven years. "MEADS will be the premier mobile air and missile defense system in the world," said MI president Klaus Riedel. "The system will protect war fighters by countering the entire threat spectrum including tactical ballistic missiles, cruise missiles, unmanned aerial vehicles, aircraft and weapons of mass destruction."
Designed to replace Patriot systems in the United States and Nike Hercules systems in Italy, MEADS also meets the "capabilities-oriented" requirements of Germany's air defense concept. The mobile air defense system incorporates the combat-proven hit-to-kill PAC-3 (Patriot Advanced Capability-3) missile and includes surveillance and fire control sensors, battle management as well as communication centers and high firepower launchers. "Through technological contributions of Lockheed Martin, EADS/LFK and MBDA-Italy, MEADS International is developing a system that meets the most challenging multi-national requirements for air and missile defense in line with the priorities of the participating nations," said Riedel.

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Loral files for Chapter 11
Satellitenhersteller im Insolvenzverfahren

Loral Space & Communications Ltd. today announced that it has reached a definitive agreement to sell its six North American telecommunications satellites to Intelsat, Ltd. for up to $1.1 billion in cash, subject to certain price adjustments related to Loral's ability to achieve specified operating parameters prior to the close. In conjunction with and as a precondition to this sale, Loral and certain of its subsidiaries today filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Loral intends to reorganize around its remaining fleet of five satellites and its satellite manufacturing operations, allowing the company to go forward as a viable enterprise with opportunities for future growth. The Chapter 11 filing, made today in the U.S. Bankruptcy Court for the Southern District of New York, will enable Loral to sell the six North American satellites free and clear of any encumbrances.
It was also announced today that Intelsat has agreed to order a new satellite from Loral and will make a $100 million down payment on that order upon closing of the sale of the North American satellites. Loral expects to use most of the proceeds from the sale of the North American satellites to repay all $959 million of its outstanding secured bank debt. The transaction is expected to close within four to six months, pending Bankruptcy Court and regulatory approval. The agreement provides for the sale of Telstars 4, 5, 6 and 7, which are currently in orbit, as well as Telstars 13 and 8, which are scheduled to be launched later this year and in the first half of next year, respectively.
Through its Skynet subsidiary, Loral will continue to operate an integrated fixed satellite and network services business using its fleet of five telecommunications satellites and its established VSAT/fiber global network infrastructure. The Loral fleet will consist of the Telstar 10, 11 and 12 satellites currently in orbit and Telstar 18/Apstar V and Telstar 14/Estrela do Sul, which are scheduled to be launched within the next nine months. This fleet serves markets in South America, Europe and Asia that the company believes are currently underserved and have potential for growth.

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Lockheed celebrates F-16 'Peace Caesar' delivery
Italien erhählt F-16

Lockheed Martin officials, along with officers from the United States and Italian Air Forces, celebrated the delivery of the first of 34 F-16 fighter jets to be provided to Italy under a program known as Peace Caesar. The ceremony took place at Trapani Air Base, Italy. The Italian Air Force chose the leased F-16 option as the most cost- effective solution to replace its aging fleet of Tornado and F-104 fighters. The lease is for five years with a five-year follow-on option. Four non- flyable F-16 aircraft are being supplied for generation of spare parts.
Approximately 100 Italian Air Force maintenance officers, instructors and technicians received F-16 maintenance training at Lockheed Martin facilities in Fort Worth, Texas. Italian instructors in Italy will train additional Italian maintenance technicians. The Air Force and Lockheed Martin also are providing other types of logistics support as part of the Peace Caesar Foreign Military Sales program, to include supply chain management and full engineering technical services.

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NEWS IN BRIEF / KURZMELDUNGEN

Following the successful certification of the Autonomous Free-flight Dispenser System (AFDS) on the A-7E/H Corsair aircraft, EADS took an important step toward a new milestone. EADS Military Aircraft successfully conducted captive, jettison and launch tests of AFDS, developed and manufactured by EADS/LFK-Lenkflugkörpersysteme GmbH, on an upgraded F-4E between June 5 and July 2, 2003 at Andravida Air Force Base, Greece. Upon launch from the aircraft AFDS completed its autonomous free flight perfectly in accordance with the mission plan. Under the Avionics Upgrade Programme, called Peace Icarus Programme, EADS/LFK supports EADS Military Aircraft on the integration of AFDS in the upgraded F-4E Phantom aircraft. AFDS is an unpowered, gliding, intelligent submunition dispenser system. Its flight is controlled by means of a digital guidance pack, to include an inertial navigation system with integrated GPS and a radar altimeter, and fins. Flying at low level, pilots can “fire and forget” AFDS up to ten kilometres from target. Over 20 kilometres stand-off can be achieved from high altitudes. The dispenser, carrying a variety of submunitions, navigates to the target autonomously. The AFDS stand-off capability provides optimum safety for both pilot and aircraft. Named DWS 39, AFDS was adapted for certification on the Gripen and Viggen aircraft and is now in service with the Swedish Air Force.
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NASA announced plans to create an independent Engineering and Safety Center (NESC) at the agency's Langley Research Center in Hampton, Va., to provide comprehensive examination of all NASA programs and projects. The center will provide a central location to coordinate and conduct robust engineering and safety assessment across the entire agency. "Among the things we've learned during the investigation of the Columbia tragedy is the need to independently verify our engineering and safety standards. The new NASA Engineering and Safety center will have the capacity and authority to have direct operational influence on any agency mission," said NASA Administrator Sean O'Keefe. "When it comes to safety and engineering analysis, we need to improve our ability to share technical information, practices and talent, and independently ensure we are in the best position to achieve mission success." The NESC is expected to draw on the talents of about 250 people throughout NASA and will report to former astronaut General Roy Bridges, Langley Center Director. Bryan O'Connor, also a former astronaut and Associate Administrator for the Office of Safety and Mission Assurance at NASA Headquarters in Washington, will have policy responsibility for the organization. O'Connor's task will be to assure the effective use of all agency assets and expertise to derive the independent assessments.
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The second launch of Eurockot Launch Services in 2003 has now been scheduled for 8th October from Plesetsk Cosmodrome in Northern Russia. The SERVIS-1 spacecraft belonging to the Japanese USEF foundation will be deployed into a sun-synchronous orbit of 1000 km altitude. The SERVIS-1 (Space Environment Reliability Verification Integrated System) satellite is being developed by the Institute for Unmanned Space Experiment Free Flyer (USEF) of Tokyo, Japan under a contract by the New Energy and Industrial Technology Development Organization (NEDO). The objective of the SERVIS-1 mission is to prove the suitability of commercial off-the-shelf parts under space conditions.
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As the US Congress initiates review of the U.S. Air Force's report on the 767 Tanker lease, Boeing issued the following statement: „We commend (Air Force) Secretary (James) Roche and the entire U.S. Air Force leadership for their vision and work over the last 18 months. They have addressed critical needs of the men and women who protect our nation. In doing so they also have provided the best value to the American taxpayer,” said Jim Albaugh, president and CEO, Boeing Integrated Defense Systems. “We committed ourselves to providing the Air Force with the quickest and most cost-effective way of putting modern, safe tanker aircraft into the hands of the warfighter,” Albaugh said. “There is no question that as people study this program and understand it, that they will agree – it satisfies a critical need, and it's a fair deal.”
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Northrop Grumman Corporation's Integrated Systems sector will continue developing and refining manufacturing processes required to construct large cryogenic fuel tanks under a new Next Generation Launch Technology (NGLT) contract option from NASA's Marshall Space Flight Center, Huntsville, Ala. The work is part of NASA's ongoing effort to develop and mature technologies required for a next generation reusable launch vehicle. NGLT is part of the agency's Space Launch Initiative (SLI), which also includes the Orbital Space Plane. During the current 12-month, $5.3 million option period, Northrop Grumman will construct one half of a 10.5-foot diameter, reusable fuel tank from composite materials. The manufacturing process will use a new, cost-saving technique that eliminates the need for an autoclave. An autoclave is a pressurized oven used to shape, heat and cure composite structures. Generally, the larger the structure, the larger and more costly the autoclave
required.
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Richard Branson announced his commitment to continue to campaign to keep Concorde flying and also attacked British Airways for exploiting customers in its Concorde competition. Branson revealed that as part of Virgin´s continuing campaign, Virgin Atlantic´s aircraft will now sport the slogan „BA couldn´t keep it up“ referring to Concorde. Branson also attacked BA over its Concorde competition; "BA is encouraging the British public to compete to fly on Concorde this October but is making them pay through the nose with premium rate calls costing £1 per minute. This means that people will pay as much to enter a competition to fly on Concorde as BA did to buy the planes! "BA could have run the competition with a free phone number or even a national rate of 7p per minute. BA is exploiting the public¿s love affair with Concorde to get them to pay the costs of BA¿s feel-good Concorde campaign. Concorde has served Britain so well and it¿s sad to see BA wringing every last penny from this magnificent aircraft before throwing it on the scrapheap.
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Northrop Grumman Corporation's Integrated Systems sector today announced the addition of Lockheed Martin to its joint unmanned combat air system (J-UCAS) team. The two companies will work together to design, develop and produce an unmanned combat air vehicle (UCAV) system that can satisfy the operational requirements of both the U.S. Navy and the U.S. Air Force. Northrop Grumman will produce two full-scale X-47B UCAV demonstrators for the Defense Advanced Research Projects Agency (DARPA) under phase IIB of the naval UCAV technology demonstration program. The new UAVs will demonstrate the technical and operational feasibility of using a UAV system to conduct surveillance, strike and suppression of enemy air defenses missions from an aircraft carrier. The UAVs will also address Air Force objectives. On Oct. 1, the Department of Defense plans to stand up a Joint Systems Management Office led by DARPA to manage the new J-UCAS program. The joint office will focus on planning and executing a demonstration program that supports both Air Force and Navy emerging requirements.
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International Launch Services (ILS) and Lockheed Martin successfully launched the Rainbow 1 satellite - the third flight for the Atlas V vehicle since the rocket debuted last summer. This mission, designated AV-003, also marked the 66th consecutive successful flight for the Atlas rocket family, built by Lockheed Martin Space Systems Co. of Denver, Colo. The satellite is an A2100 model, built by Lockheed Martin Commercial Space Systems of Newtown, Pa. Cablevision's RLDBS project will use the high-powered satellite to introduce its Rainbow direct-to-home broadcast services to the contiguous United States. Liftoff was at 7:45 p.m., with separation of the satellite occurring 1 hour and 40 minutes later. The Atlas V rocket was flown in its "521" configuration, meaning it was fitted with a 5-meter-diameter fairing and two solid rocket motors. The larger fairing was chosen to accommodate the satellite's sophisticated antenna array. The Atlas V's Centaur upper stage vehicle released the satellite into a nearly perfect transfer orbit. The apogee, or high point, was 35,843 km (target was 35,845 km); perigee, or low point, was on target at 3,790 km; and inclination was also right on target at 17.54 degrees.
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As the first century of aviation is celebrated at the International Air and Space Symposium, technology now being developed is writing the future for the second 100 years of aviation. Pratt & Whitney (P&W) Space Propulsion, teamed with U.S. Air Force researchers under the Hypersonic Technology (HyTech) Program, has completed testing of a revolutionary scramjet engine. The Ground Demonstration Engine number one (GDE-1), which weighs less than 150 pounds, was tested at speeds of Mach 4.5 and Mach 6.5 in hypersonic ground test facilities. GDE-1 was the world's first flight-weight, hydrocarbon-fueled scramjet engine, and used standard JP-7 fuel to both cool engine hardware and fuel the engine's combustor. "This has been a historic test program that has set the foundation for the development of hydrocarbon-fueled scramjet engine technology," P&W Space Propulsion Hypersonics Program Manager Joaquin Castro said. "I am really proud of the team for its hard work, dedication and technical achievements." During numerous runs at Mach 4.5 and Mach 6.5 (September 2002 through June 2003), GDE-1 reliably produced significant net positive thrust, which is important because it demonstrates the ability to efficiently burn fuel and accelerate a vehicle at these speeds. The thermal characteristics and structural durability of the engine were validated at both speeds.
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Northrop Grumman Corporation's Integrated Systems sector will begin the preliminary design phase of the unmanned combat armed rotorcraft (UCAR) program under a new funding agreement with the Defense Advanced Research Projects Agency (DARPA). The award strengthens the company's global leadership position in the development of advanced unmanned systems. UCAR is an eight-year, four-phase advanced technology development program sponsored jointly by DARPA and the U.S. Army. The program will demonstrate an affordable system that can identify and prosecute concealed ground targets in close combat situations without putting a pilot in harm's way. The system must operate seamlessly with other components in the Army's system-of-systems objective force construct while performing a broad range of ``dull, dirty or dangerous'' missions. Northrop Grumman's $7.8 million Phase II award begins immediately.
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Frankfurt Airport (FRA) welcomed some 4.3 million passengers in June 2003, 2.3 percent less than in the corresponding month last year. Airfreight decreased by 4.1 percent to 123,721 metric tons and airmail dropped by 17.2 percent to 9,211 metric tons. Fraport AG registered 38,108 aircraft movements (take-offs and landings) at FRA, a 2.7 percent decline compared to June 2002. This paralleled the development in maximum take-off weights (MTOWs), which also slipped by 2.7 percent to 2.1 million metric tons in the reporting month. However, the recent development in passenger figures at Frankfurt Airport indicates a recovery trend. The June 2003 passenger decline of 2.3 percent was about half as much as in the preceding months of May (5.3 percent decline) and April (5.2 percent decline). International traffic has clearly recovered and the demand for holiday travel has risen again. In particular, the Balearic and Canary islands benefited from this development, along with many destinations in Eastern Europe. For example, Bulgaria - an inexpensive tourist destination - achieved a double-digit increase in passengers. Traffic to the Middle East also registered double-digit growth in June 2003.
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Air China, the flag carrier of the People's Republic of China, has taken delivery of its first A319 at the Airbus delivery center in Hamburg, Germany. This is the very first aircraft of the A320 Family ever delivered to Air China. The ferry flight will take the aircraft to Xiaoshan International Airport in the Chinese province of Zhejiang. The A319, powered by V2500 engines from International Aero Engines, will offer a two-class layout, seating eight passengers in business class and 120 in economy class. The aircraft delivered today carries the serial number “2000” of the Airbus Single-Aisle Family. The A319 will join the fleet of Air China Zhejiang Subsidiary, formerly CNAC-Zhejiang, which operates eight Airbus aircraft.
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The first contracts to build test satellites for the Galileo program were signed at the European Space Agency's (ESA) research and technology center on 11 July. The experimental satellites will act as forerunners of the 30 orbiters that will eventually be built for Europe's civilian navigation system. One of the two is expected to be launched in 2005 in order to secure the frequencies reserved for the Galileo system before the International Telecommunications Union deadline of June 2005. That contract, worth 27.9 million euro, went to Surrey Space Technology Ltd in the UK. The second contract involves the construction of test satellite much closer to the final design, which will be used to validate all the technologies to be used as part of the program. The successful bid, worth 72.3 million euro, came from Galileo Industries, a consortium of French, Italian, German, Spanish and UK partners.
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South Korea delivered two domestically built pilot training airplanes to Indonesia on Tuesday (July 15), marking the nation's first airplane exports. The Korea Aerospace Industries (KAI) said on Tuesday that the jets, both named KT-1B, were handed over to the Indonesian Air Force during a ceremony at a pilot training center in Indonesia. KAI signed a $60 million contract with Indonesia in February 2001 to sell seven KT-1B training jets and repair their parts, and provide training for pilots and maintenance workers.
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Hughes Electronics Corporation announced a settlement agreement with The Boeing Company that resolves the outstanding purchase price adjustment disputes arising from Boeing's October 2000 acquisition of Hughes satellite manufacturing operations. A price adjustment procedure was provided under the purchase agreement when Boeing acquired the Hughes satellite systems manufacturing businesses in October 2000 for $3.75 billion in cash. The operations were renamed Boeing Satellite Systems, Inc. (BSS). Under the terms of the agreement, Hughes will settle all outstanding purchase price adjustment disputes with Boeing by paying an aggregate $360 million in cash. Boeing also will be released from its commitment to pay Hughes $4.4 million over the next seven years in connection with Boeing's participation in the settlement with the U.S. Department of State on China launch issues of the mid-1990s. As a result of the settlement, Hughes will take an after-tax charge of approximately $8 million that will be accounted for under discontinued operations for the quarter ended June 30, 2003.
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SWISS and the SWISS PILOTS union (SPA) have set aside their differences. In an agreement signed by both sides, the SPA waives rights to the implementation of the Arbitration Court ruling and withdraws from all outstanding legal proceedings. In addition, the SPA accepts the dismissal of 559 of its pilots. In return, SWISS agrees to make a one-time payment to all pilots declared redundant. The three charter aircraft will, in future, be operated by the former Crossair pilots (OC 1). SWISS also withdraws its plans for the legal establishment of its subsidiary SWISS Express. In a constructive atmosphere, Aeropers and SWISS agreed on the measures and the implementation of the restructuring programme. The union, which was not involved in the Arbitration Court proceedings, was able to reconcile itself with the effects of the SPA agreement. Agreement with the two pilots' unions is an exceptionally important prerequisite if the previously announced SWISS restructuring programme is to be achieved. After long and intensive negotiations, Swiss and the SWISS Pilots union agreed on an amiable out of Court settlement. The agreement is an essential condition which will enable the company to successfully carry out the restructuring. It brings advantages both for the departing SPA pilots and those who will remain. The compensation for the 559 pilots in the regional fleet who will be obliged to leave will amount to CHF 85,000 for a co-pilot and CHF 140,000 for a Captain. The charter flights were originally operated by the former Crossair pilots (OC 1). Following the changeover from Boeing MD-83s to Airbus A320s, these flights were integrated into the Airbus Operation (OC 2). The charter operation, with its three SWISS SUN A320s, now return to the OC 1 pilots corps.
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SWISS has reached agreement with Kapers and Unia, its cabin staff associations, on the terms and procedures for reducing personnel numbers. Some 935 cabin crew positions are affected by the corporate resizing which is currently under way. The Geneva and Lugano crew bases are to be closed, and crew numbers will also be reduced in Basel. SWISS has been conducting negotiations with its cabin crew associations since it announced its corporate resizing, to seek the most partnerly and socially-acceptable solutions possible for effecting the staff reductions required. The airline's cabin crew corps will be informed today of the measures that have now been agreed. Unlike with the OC 2 pilots, the workforce downsizing cannot be achieved solely through voluntary reductions in working hours for the company's cabin crew staff. But cabin personnel will be offered the opportunity to reduce their working hours and conclude a corresponding new contract of employment; and the number of flight attendants not served notice who are willing to make such reductions may affect the total number of layoffs required.
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The traffic trend of the Austrian Airlines Group in the first half of June continued to feel the effects of the global economic downturn and the consequences of the SARS breakout, whereas in the second half of the month a slight recovery was noticeable. With flights reduced by 8.3 %, a total of 791,223 passengers was carried by the Group - a figure which was 9.5 % down on the comparable month the previous year. The average passenger load factor on scheduled services was 71.9 %, compared to 66.5 % in May. The cumulative traffic statistics for January to June 2003 show a 5.8 % fall in the number of passengers to 3,847,698. The charter segment continued to grow during this period, by 1.3 %, while scheduled services carried 7.0 % fewer passengers than in the comparable period last year. At 66.0 %, the load factor on scheduled services was 2.6 percentage points lower than the figure for the previous year. In the first six months of 2003, the Group provided a total of 69,534 flights, 4.2 % fewer than were made from January to June 2002
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Communicating with ESA's spacecraft such as Mars Express, or SMART-1, Rosetta and Venus Express - yet to be launched - will be even easier and more effective when the new Cebreros ground station, near Avila (Spain), becomes operational in September 2005. On 22 July, in Madrid, the Director General of ESA, Jean-Jacques Dordain, the Spanish Secretary of State for Defence, Mr Fernando Díez Moreno, and the Spanish Secretary of State for Science and Technology, Mr Pedro Morenés Eulate, will sign an agreement between ESA and the Kingdom of Spain that will pave the way for the installation of a new high-performance deep-space tracking station in Cebreros. Communicating with spacecraft over very long distances, probes that have to be controlled remotely, together with their on board instruments, at distances up to 900 million kilometres from Earth (more than six times the distance from Earth to the sun) require huge and powerful antennas.
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The New Piper Aircraft, Inc. announced that American Capital Strategies Ltd. (Nasdaq:ACAS) has purchased the company's secured bank debt. Moreover, in an effort to restructure its balance sheet and reduce its debt leverage, New Piper anticipates that a recapitalization of New Piper will occur shortly. American Capital first invested in New Piper in 1998. “The exceptional leadership of the New Piper management team, the company's strong dealer network and its dedicated and skilled workforce were major factors in deciding to invest additional capital in the company,” said American Capital Senior Vice President and Managing Director Gordon O'Brien. “We have watched Chuck Suma and his team rebuild New Piper into an innovative leader in general aviation, despite what has been a particularly tough economic climate. We think New Piper is now poised to become even stronger as the economy – and general aviation, in particular – rebounds.”
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