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+++ Boeing ousts Stonecipher over affair +++ Rockwell Collins to acquire Teldix +++ 2004 safest year for airlines +++ Lufthansa Private Jet launched +++ Boeing 777-200LR makes first flight +++ Positve results for EADS +++ News in brief +++
Boeing ousts Stonecipher over affair
Führungskrise bei Boeing
On the morning of March 7, Boeing announced that its Board of Directors asked for and received the resignation of President and CEO Harry Stonecipher on Sunday, March 6. Concurrently, the Board has appointed CFO James A. Bell, 56, as president and CEO on an interim basis, with Board Chairman Lew Platt assuming an expanded role in his capacity as non-executive chairman. Stonecipher will also leave the company's Board; all changes are effective immediately.
The Board actions were taken following an investigation by internal and external legal counsel of the facts and circumstances surrounding a personal relationship between Stonecipher and a female executive of the company who did not report directly to him. The Board determined that his actions were inconsistent with Boeing's Code of Conduct. “The Board concluded that the facts reflected poorly on Harry's judgment and would impair his ability to lead the company,” said Platt. “The resignation was in no way related to the company's operational performance or financial condition, both of which remain strong. However, the CEO must set the standard for unimpeachable professional and personal behavior, and the Board determined that this was the right and necessary decision under the circumstances,” he said.
The Board ordered an immediate and comprehensive investigation of the matter after Platt received information that was sent anonymously to him and to the company's legal and ethics leaders 10 days ago. The investigation determined the relationship was consensual and had no effect on the conduct of the company's business. The investigation also determined that neither the career nor the compensation of the female executive was influenced by this relationship.
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Rockwell Collins to acquire Teldix
Northrop Grumman verkauft Avionikfirma
Rockwell Collins has entered into a definitive agreement with Northrop Grumman to acquire Teldix GmbH, a leading provider of military aviation electronics products and services, based in Heidelberg, Germany. The deal is subject to customary closing conditions, including regulatory approvals in Germany, and is expected to close by the end of March 2005. Under the terms of the agreement, Teldix has been valued at approximately $94 million. Consideration for the purchase of the Teldix stock will consist of the assumption of certain liabilities and the payment of approximately $22 million in net cash. Teldix's revenues were approximately $90 million for its fiscal year ended December 31, 2004. The purchase is expected to be slightly accretive to fiscal year 2005 earnings per share.
“This acquisition, our first in Europe, broadens our European presence and provides complementary product lines that will allow us to enhance our offerings for customers worldwide,” said Rockwell Collins Chairman, President and CEO Clay Jones. “We're confident that Teldix's position as a respected European defense contractor will also provide new channel-to-market opportunities for our current products and services.” With more than 40 years of engineering and manufacturing experience, Teldix supplies a broad portfolio of complex military aircraft computer products to major prime contractors throughout Europe. Teldix has a leading position in major European programs such as the Eurofighter Typhoon, the multi-role combat fighter Tornado, and the NH90 and Tiger helicopters.
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2004 safest year for airlines
Sicherheitsrekord für 2004
"2004 was the safest year ever for air transport," said Giovanni Bisignani, Director General and CEO of the International Air Transport Association (IATA). "Despite the US$35 billion in accumulated losses since 2001, the industry continues to invest in our number one priority with fantastic results." In 2004, the industry-wide hull loss rate declined by 10% to 0.78 hull losses per million sectors flown. In real terms the number of accidents increased from 99 in 2003 to 103 in 2004 while global traffic increased in the order of 15%.
IATA members significantly outperformed the industry on safety. IATA member airlines account for 94% of scheduled international traffic but were only involved in 39% of hull losses. The hull loss rate for IATA members stood at 0.57 per million sectors.
"Over 1.8 billion people traveled safely in 2004. Tragically, however, 428 people lost their lives in commercial aircraft accidents. To put that into perspective, that is a similar number to 1945 when the industry carried only 9 million passengers. Air transport is the safest form of transport but every accident is one too many. We are fully committed to further improvements," said Bisignani. "While we have made tremendous progress in safety, IATA has an aggressive program to lead the industry to even safer levels. This includes a commitment to reduce the accident rate by a further 25% by 2006," said Bisignani. "A pillar of our approach to aviation safety is the IATA Operational Safety Audit (IOSA). This is the industry's first global standard for safety audit and it will become a standard for IATA membership," said Bisignani. "Air transport is safe. And we are committed to make it even safer. With 100 audits scheduled in 2005, airlines committing to operate in accordance with IOSA standards are making a clear and positive safety statement."
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Lufthansa Private Jet launched
Kooperation mit NetJets unterschrieben
Maximum flexibility with supreme comfort for Lufthansa customers: With the start of the summer flight schedule on 29 March, Lufthansa is adding a new dimension to personalised air travel. The German carrier is offering a unique product, worldwide, to passengers who highly value flexibility and time-saving. “Lufthansa Private Jet, exclusively operated by NetJets“, is the new product that allows passengers to fly by private jet from more than 1,000 airports around Europe to Lufthansa's Munich hub to board connecting flights there in First or Business Class to destinations around the globe. Passengers arriving on long-haul flights in Munich can conveniently take a private jet to fly on to their final destination. The new private jet service, a further enhancement in the top-end market, can also be used for flights between European airports. “Lufthansa Private Jet” ideally complements Lufthansa's worldwide network by adding up to thousand individualised flight options.
The partnership underlying the new and exclusive Lufthansa product was officially signed in Munich today by Lufthansa Chairman and Chief Executive Officer Wolfgang Mayrhuber and NetJets Chairman and Chief Executive Officer Richard Santulli. Wolfgang Mayrhuber: “Business travellers are attaching a growing importance to sovereign command of their time. Many of our customers want maximum flexibility in their travel planning. Shortening the journey time is a defining factor in business success. With our new offering, designed to meet the needs of our most discerning customers, we are combining Lufthansa's noted quality standards with the advantages of private flying. In NetJets, we have found an ideal partner for this segment. The company is the world leader in the private aviation industry, with nearly 20 years' experience, high technical standards, professionalism in flight planning and organisation and the highest safety standards.”
“Lufthansa Private Jet“ will be offered at an attractive all-in price, depending on the fare zone and including the exclusive use of the whole aircraft. A Lufthansa Private Jet flight from Munich to Lugano will cost 4,550 or 5,650 euros depending on the aircraft type, the price for a flight from Dublin to Billund will be 9,530 euros. A companion fare of up to 300 euros will be charged for each further passenger taken on a flight. For each flight with “Lufthansa Private Jet“ passengers will earn 10,000 miles. Flights can be booked up to 180 days or up to 24 hours prior to flight departure.
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Boeing 777-200LR makes first flight
Erstflug des Reichweiten-Weltmeisters
The first Boeing 777-200LR Worldliner, the world's longest range commercial airplane, completed its first flight on March 8 and began a test program that will lead to its first delivery in January 2006. The newest 777 took off from Everett, Wash., Paine Field at 10 a.m. local time. After approximately three hours, it landed at 1:02 p.m. at Seattle's Boeing Field. Capts. Suzanna Darcy-Hennemann and Frank Santoni flew the airplane, which carries the distinctive new blue Boeing livery. Darcy-Hennemann is the 777-200LR project pilot and Santoni is the chief 777 program pilot for Boeing Commercial Airplanes. During today's flight, Darcy-Hennemann and Santoni took the airplane to an altitude of 15,000 feet (4,572 meters) and an air speed of 270 knots, or about 310 miles (500 kilometers) per hour, customary on a first flight. Typically, the 777's cruise altitude is 35,000 feet (10,668 meters), and its cruise speed is Mach 0.84, about 484 miles (779 kilometers) per hour.
The flight-test program will involve the airplane flown today and a second one that's being built. Those will prove the airplane's safety, reliability and service-ready condition during 500 flight hours and 300 ground test hours. Certification by the U.S. Federal Aviation Administration and Europe's Joint Aviation Authority is expected during the fourth quarter. The first 777-200LR Worldliner is to be delivered to Pakistan International Airlines. EVA Airways is also a launch customer.
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Positve results for EADS
EADS mit gutem Jahr 2004
EADS claims that it has further strengthened its position as a global leader in aerospace and defence and entered into a new growth period in 2004. The company exceeded its financial targets for the fifth consecutive year. EBIT (pre-goodwill and exceptionals) stood at EUR 2.4 billion for the year, up 58 percent over 2003. Net Income was up 60 percent to EUR 1.03 billion, it was announced at the annual press conference. EADS' EBIT margin rose from 5.1 percent to 7.7 percent in 2004, an unprecedented level for EADS. EADS published its 2004 results and an updated 2005 forecast on Wednesday. Stronger revenues of EUR 31.8 billion (2003: EUR 30.1 billion) were achieved through growth across all five divisions. Key growth drivers were Airbus, which benefited from the start of the market upturn, and EADS Defence businesses, up eight percent to EUR 7.7 billion (2003: EUR 7.1 billion). At constant US dollar exchange rates, total EADS revenues would have grown by seven percent.
The strong EBIT growth follows solid profit improvement at Airbus and Space. At Airbus, EBIT surged to EUR 1.922 billion, or 9.5 percent of revenues mainly due to higher deliveries, a higher proportion of large aircraft deliveries and cost savings. The Space Division returned to profitability on schedule. The Defence and Security Systems Division's EBIT increased by 33 percent (EUR 57 million). The Aeronautics and Military Transport Aircraft Divisions each achieved an EBIT close to 2003 levels. The Research and Development (R&D) expenditure in 2004 stood at EUR 2.1 billion, reflecting EADS' continued high level of investment in innovation (2003: EUR 2.2 billion, 2002: EUR 2.1 billion). As in 2003, about half of this was spent on R&D for the A380, the 555-seater Airbus aircraft expected to generate more than US $ 175 billion in sales in the first fifteen years of production after entry-into-service in 2006. EADS had 110,662 employees at the end of December 2004 (2003: 109,135).
Looking ahead, the CEOs elaborated on their roadmap for the future of EADS: “EADS must continue to evolve, but profitability remains the key driver of our strategy. Strengthening its competitive position and managing the US Dollar weakness are key challenges the company must overcome to sustain its industrial leadership in commercial aircraft and helicopters.” Camus and Hertrich underlined the importance of the company's international, technology and human resources efforts: “EADS must also continue to develop the major growth markets outside of Europe. The strong order-book will provide for mid-term growth in defence. But over the long-term a solid and growing defence business requires EADS to go beyond home markets and beyond its existing product-range. EADS should continue its transformation by expanding its global industrial presence, by a strong commitment to technology and R&D investment and by preserving its first class recruitment, retention and education programmes aimed at attracting the best multi-national talent for the company's future.”
The EADS order intake remained strongly above the level of revenues and amounted to EUR 44.1 billion in 2004. The EADS order book increased by nearly three percent to EUR 184.3 billion (2003: EUR 179.3 billion). At constant exchange rates, the increase would have been about seven percent. 2004 saw continued growth in the defence order book, to EUR 49.1 billion. Net Income in 2004 was at EUR 1.03 billion, up 60 percent from last year's Net Income of EUR 644 million. The 2003 figure (reported at EUR 152 million) was restated for comparison following the implementation of the IFRS3 accounting rule. Net Income no longer includes regular goodwill amortization. Earnings per share stood at EUR 1.29, up from EUR 0.80 in 2003. Dividend proposal of EUR 0.50 per share
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NEWS IN BRIEF / KURZMELDUNGEN
Bombardier Aerospace announced a new Long Range (LR) model of the 70- to 78-seat Bombardier CRJ700 airliner. The CRJ700 LR aircraft will have a range of 2,516 miles (4,048 km), an increase of about 276 miles (444 km) over the CRJ700 ER (extended range) model. The extended range is made possible by increasing the aircraft's maximum take-off weight, allowing it to carry more fuel. In addition to the increase in the maximum take-off weight, the LR model will also provide an increase in the maximum payload and maximum landing weights. These weight increases will allow the airlines greater flexibility in the operation of the CRJ700 LR jetliner. "The CRJ700 LR aircraft will allow operators to carry greater payloads over greater distances and increase their ability to generate more revenue," said Rod Williams, vice-president, Aircraft Programs, Bombardier Regional Aircraft. The Bombardier CRJ700 LR aircraft, which will be available in the first quarter of 2006, will be powered by General Electric CF34-8C5B1 engines. Existing CRJ700 aircraft can readily be retrofitted to the new CRJ700 LR aircraft standards. Bombardier Aerospace also announced an engine upgrade for the Bombardier CRJ700 aircraft, that will offer operators savings of up to 15 per cent in engine maintenance costs over 15 years. The program upgrades the General Electric CF34-8C1 engine of the CRJ700 jetliner to a variant of the CF34-8C5 engine used on the Bombardier CRJ900 aircraft. The new engine, designated the CF34-8C5B1, is scheduled to be fitted to production CRJ700 aircraft starting in the second quarter of 2005. Operators will realize maintenance cost savings because the new engine will be operated at lower thrust levels than the CF34-8C5, extending its time in service before overhaul, extending the life of engine parts and lowering direct maintenance costs.
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Management Board of OHB Technology AG disclosed today preliminary and un-audited Group key figures for fiscal 2004. Sales and earnings per share reached again record high level carrying forward the successful growth of OHB impressively. The huge jump in OHB Group sales once again in 2004 by around 43 % (previous year plus 42 %) to EUR 137.9 mill (previous year EUR 96.3 mill) – driven through the mainly project oriented space technology – documents especially in the manned space technology early invoicing in the projects ahead of company`s planning. Total revenues in the amount of EUR 114.1 mill (previous year EUR 105.8 mill) were slightly below the planned target of EUR 120 mill. The deviation is mainly due to a postponement in the SAR-Lupe project. End of 2004 OHB gave an additional offering to increase the technical performance of SAR-Lupe satellites ordered by the govern-mental client. This already expected increase in contract volume result in a launch of the first SAR-Lupe satellite scheduled presumably for the beginning of 2006 (initially 2005).
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The HPA team had been working for 2 years for this event. Now the LBA has signed the temporary certification. On February the 22nd the TT62 did it first flight. Test pilot Gerad Guilaumaud took off of the TT62 at the airport of Heringsdorf on the island of Usedom. First he flew with moderate speed in low height over the island. The first milestone is reached. Now the flight tests of the prototype start. The development of the airplane will be completed by the outcomes of these tests until the start of the production of the first airplanes in 2006.
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Garmin International announced that Cessna has received approval for a Type Certificate (TC) from the Federal Aviation Administration (FAA) for the 172S Skyhawk. The TC allows Cessna to pair the most prolific single engine piston aircraft with the popular Garmin G1000 integrated avionics system. "The Garmin G1000 has quickly become the most requested avionics package offered on other Cessna models, so we're thrilled to now be able to put Garmin glass in one of the world's most popular airplanes," said Gary Kelley, Garmin's director of marketing. "The G1000 offers Skyhawk pilots the same outstanding reliability, unparalleled situational awareness, and ease-of-use found in other Cessna aircraft." The 172S Skyhawk SP NAV III option integrates all primary flight, navigation, communication, terrain, traffic, weather, and sensor data on two 10.4-inch, high-definition LCD displays. These active-matrix displays feature XGA resolution (1,024x768-pixel count) and are capable of presenting data in brilliant, sunlight-readable color at wide viewing angles.
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On March 4, the European Space Agency's Rosetta spacecraft performed ESA's closest-ever Earth fly-by, gaining an essential gravity boost in its ten-year, 7.1 billion kilometre flight to Comet 67P/Churyumov-Gerasimenko. At closest approach, at 22:09:14 GMT, Rosetta passed above the Pacific Ocean just west of Mexico at an altitude of 1954.74 km and a velocity relative to the Earth of 38 000 kph. The passage through the Earth-Moon system allowed ground controllers to test Rosetta's 'asteroid fly-by mode' (AFM) using the Moon as a 'fake' asteroid, rehearsing the fly-bys of asteroids Steins and Lutetia due in 2008 and 2010 respectively. The AFM test started at 23:01 GMT and ran for nine minutes during which the two onboard navigation cameras successfully tracked the Moon, allowing Rosetta's attitude to be automatically adjusted. Before and after closest approach, the navigation cameras also acquired a series of images of the Moon and Earth; these data will be downloaded early today for ground processing and are expected to be available by 8 March.
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On March 7, the M-346, the Aermacchi twin engine advanced trainer, has performed its first flight in "dual FADEC" configuration, with both engine featuring full functioning digital electronic engines control. The digital FADEC (Fully Authority Digital Engine Control) technology, developed by Honeywell for the F124-GA-200 engines installed on the aircraft, is superior to traditional control units, allowing accurate control of several functioning parameters and providing a more effective exploitation of the engine performance potential in flight.
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Rockwell Collins was selected by Northrop Grumman to provide the avionics upgrades for 18 E-8C Joint STARS aircraft. The upgrades will allow these aircraft to meet Communication, Navigation, Surveillance/Air Traffic Management (CNS/ATM) requirements. The program has a potential value to Rockwell Collins of approximately $50 million over the next four years. The initial $49.6 million contract award, for the Engineering, Manufacturing and Development phase, includes design, development, integration and testing of the CNS/ATM suite for the E-8C aircraft. Northrop Grumman will integrate the system with the E-8C mission system. The upgrade provides an open system architecture, including 6- by 8-inch active matrix liquid crystal displays, V/UHF radios, data link and satellite communications, the GNLU-945 Multi-mode Receiver and secure GPS receivers.
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The US Air Force removed the suspension of three Boeing Integrated Defense Systems business units associated with its rocket business. Over the past 20 months, The Boeing Company has taken responsibility for the serious ethical breaches in its company and taken strong remedial action to prevent such violations from occurring in the future. "We believe that Boeing has taken significant action over the past 20 months to rectify past improprieties and to develop long-lasting integrity standards that makes them eligible to compete for government launch contracts again," said Acting Secretary of the Air Force Peter B. Teets. To protect the government's interest an Interim Agreement between the Air Force and Boeing has been signed. In this agreement the Air Force may revoke the agreement, and reinstate suspensions, in the event Boeing is indicted or convicted, or if new evidence is discovered. In addition, Boeing has reimbursed $1.9 million to the Air Force for its costs of reviewing this matter.
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Technicians continue to process orbiter Discovery in preparation for the rollover to the Vehicle Assembly Building (VAB) later this month. In Orbiter Processing Facility bay 3, orbiter system testing is nearly complete on Discovery for its mission (STS-114) to the International Space Station. In preparation for payload bay door closure, processing continues with work on the Boom Manipulator Positioning Mechanism assembly fasteners, installation and verification of the Remote Manipulator System camera, and inspections of the airlock wiring. Thermal Protection System blanket bonding continues on the Rudder Speed Brake. Main landing gear thermal barrier installations are complete. On Monday, the External Tank was mated to its twin Solid Rocket Boosters in the VAB. Prior to orbiter Discovery joining the stack, final closeouts on the External Tank will include attaching the new bolt catcher and electrical cable connections, as well as installing an aerodynamic fairing and the bi-pod struts, which are the attach points for the nose of the orbiter to the tank.
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In 31,760 flights, the ADAC air rescue service carried 28,197 patients last year. The number of the uses was thus down by around 2.5 percent in comparison with the preceding year. On the average, the yellow helicopters moved once per day. "Christoph 31" in Berlin (2,342) flew most missions in the year, followed of "Christoph Europe 1" in Würselen and "Christoph 20" in Bayreuth. Distance flown was 2,859,000 kilometers. Most frequently (33 percent) they were called to accidents in traffic, household and leisure time. The sudden heart death and the heart attack were the reason for one-third of the alarms of the helicopter. Strokes and brain hemorrhage was the cause of 20 percent of the uses. 8 August with altogether 146 uses was record day 2004.
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Northrop Grumman reached a construction milestone by lowering the final keel section of the George H. W. Bush (CVN 77) aircraft carrier into place. The 700-ton lower bow unit was joined to the other keel sections in the dry dock and completes the length of the carrier, which is as long as the Empire State Building is tall. Newport News is building the George H. W. Bush using modular construction, a process where smaller sections of the ship are welded together to form units called super-lifts. These super-lifts are hoisted and lowered into dry dock with the sector's massive 900-ton crane. The lower bow unit is the 98th of 161 super-lifts used to build the carrier. Made up of 13 steel sections, the lower bow is one of the heaviest super-lifts and is the last major section of the ship below the waterline to be lowered into place in the dry dock. The George H. W. Bush is the second carrier to have the new bulbous bow design that provides more buoyancy to the forward end of the ship and improves hull efficiency. Construction began on the lower bow last March.
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Northrop Grumman has received a contract from the Defense Advanced Research Projects Agency (DARPA) to develop electronic components made from gallium nitride, a next-generation semiconductor material system that provides vastly improved communications, radar and intelligence capability to the warfighter. "This new contract will enable us to transition gallium nitride technology from development to production, just as we have previously transitioned gallium arsenide and indium phosphide technologies from research through development to flight-qualified production for critical government platforms," said Dwight Streit, vice president, Foundation Technologies, at the company's Space Technology sector.
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The Supervisory Board of LSG Lufthansa Service Holding AG appointed Walter Gehl as Chief Executive Officer and assigned a seat on the Board to Jochen Müller at its meeting today. As long since planned, Ulrich Bröscher and Hans Albrecht stepped down today from the Executive Board of LSG Holding at their own request. Thomas Nagel will, as announced last year, succeed Ulrich Bröscher. As a further step in the restructuring of LSG, the Supervisory Board has reduced the number of Executive Board positions from four to three. Walter Gehl (52), interim CEO since November 2004, will in future as Chief Executive Officer be responsible for Finance, Human Resources and IT as well as the Corporate Functions. Jochen Müller (43), an internationally experienced manager, will head the newly created Solutions Division with responsibility for creating innovative inflight service solutions for the airline business. Jochen Müller was previously responsible as Chief Operating Officer for the Europe/Middle East/Africa region at LSG Sky Chefs.
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Boeing and UK-based carrier Thomsonfly have revealed an updated interior for the operator's Boeing 757-200 and 767-200 airplanes that creates a modern, spacious feel highlighted by newly designed curved ceilings and larger, more rounded storage bins. Thomsonfly.com is the launch customer for the new Boeing 757-200 and 767-200 Enhanced Interior Package. The Enhanced Interior Package is designed to improve comfort and passenger appeal, increase market competitiveness and extend the life of the airline's fleet. The refreshed designs are fashioned after the interiors of the passenger-preferred Boeing 777 and reflect new interior-design elements for the all-new Boeing 787 Dreamliner.
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With the arrival of Hapag-Lloyd Express (HLX), Munich Airport welcomed a new low-cost carrier to the fold on Wednesday, March 9, 2005. The airline´s distinctive "New York Taxi" livery in yellow and black will become a regular sight at Munich Airport as HLX has started services to Palermo (4x weekly), Olbia (4x weekly) and Newcastle (3x weekly) (serviced with Boeing 737s). According to Kerkloh, the arrival of the well-know low-cost carrier to Munich is a strong indication of Munich Airport´s growing attractiveness for the low-cost segment—in fact, all of Germany´s low-cost airlines are now flying to Munich. Last year alone, eight low-cost carriers operated from Munich Airport, serving 22 domestic and European routes. These airlines carried over 2.7 million passengers—representing on-year growth in the low-cost segment of over 26 percent in 2004.
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Luxembourg Air Rescue hosted the European HEMS and Air-Ambulance Committee (EHAC) in its airport offices on 2 March 2005. The EHAC board decided at its last meeting in September 2004 to extend the articles of association and to include the area of fixed wing ambulance services. The Newly formed EHAC fixed-wing committee consists of representatives from the major European Air-Ambulance operators which include LAR, REGA, DRF, Tyrolean Air-Ambulance, Norwegian Air-Ambulance and ADAC and is chaired by LAR President, René Closter. The aim of the committee is to ensure that the highest standards are maintained within the profession and the interests of the patient prevail over economic interests. The committee was very concerned about the way that certain large aircraft were chartered from the different European governments to repatriate patients from the Tsunami affected region by organisations that had no experience in air-ambulance transportation and without the necessary equipment required for such flights. The EHAC committee will be presenting its conclusions and guidelines to the respective governments and European bodies in the near future.
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Government commerce authorities from Portugal, Germany and Italy have approved the acquisition of OGMA -- Industria Aeronautica de Portugal S.A. by a consortium formed by Embraer and the European Aeronautic Defense and Space Company (EADS). To acquire OGMA, Embraer and EADS created the AIRHOLDING, SGPS, S.A., with Embraer holding a 99 percent stake and EADS holding a 1 percent stake. In the future, the participation of EADS in this company can reach a maximum of 30 percent. "We are very pleased that commerce authorities approved the deal. The acquisition of OGMA will allow Embraer to expand its presence in Europe through a brand recognized in the aerospace market for the excellence of its products and services," said Antonio Pires Monteiro, the new OGMA Chief Executive Officer. Monteiro has been an engineer with Embraer for over 30 years and has occupied many key positions in management. With the deal allowed to proceed, Embraer also appointed Ladislau Cid to be OGMA's new Chief Financial Officer.
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Cathay Pacific Airways reported its second best full-year results on record with an attributable profit of HK$4,417 million in 2004, compared to HK$1,303 million in 2003. Turnover increased by 32.1% from last year to a record HK$39,065 million. Cathay Pacific carried a record 13,664,000 passengers and 972,416 tonnes of cargo as the airline increased both flights and capacity, further strengthening Hong Kong as a global aviation hub. The airline extended its Chinese Mainland network with the introduction of a daily service to Beijing and in early 2005 the launch of new passenger service to Xiamen and freighter service to Shanghai. Improved world and Hong Kong economies were the main drivers for growth. 2004 would have been the airline's best year on record had there not been a sharp rise in the price of fuel. Fuel accounted for 23.9% of the airline's total operating cost, up from 19.8% in 2003. Demand from both business and leisure travellers remained strong throughout the year. Passenger capacity increased by 24.9% over 2003. This increase, combined with higher load factors and yields, which rose 5.8% to HK45.8 cents for every passenger kilometre, contributed to a passenger revenue record of HK$26,407 million.
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The Swedish Air Force has become the first international customer for the Boeing C-130 Avionics Modernization Program, signing a letter of offer and acceptance (LOA) to modernize its fleet of eight C-130E/H aircraft. The LOA will lead to a foreign military sales contract between Boeing and the U.S. Air Force. The contract, the largest ever administered by the U.S. Air Force for the Swedish Government, is expected to be completed early this summer. The first aircraft is anticipated to enter modification in 2007, with the last modified aircraft being delivered to Sweden in 2009. Current plans call for modifications to be done at the Boeing Aerospace Support Center in San Antonio, Texas.
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After almost two tumultuous years in bankruptcy, Hawaiian Airlines received court approval for its plan of reorganization. After its two remaining labor contracts are ratified and a formal order is entered by the court, Hawaiian should emerge from Chapter 11 in early April. Hawaiian Airlines Trustee Joshua Gotbaum said, "This is a great day for a great airline and everyone who is part of Hawaiian: Our shareholders keep their shares, which have increased in value. Our creditors get repaid in full. And Hawaiian employees will, for the first time, get wages and benefits as good or better than our competitors. For an airline that two years ago was losing money and had less than $20 million in the bank, I think it's a real success.
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As expected, Frankfurt Airport's (FRA) traffic figures for February 2005 did not grow as strongly as in the past. Absence of the leap day, which occurred in February 2004, alone resulted in nearly a four per cent drop in passenger traffic - without this leap-day effect passenger figures would have been level. However, in February 2005 traffic slipped 3.8 per cent to 3.4 million passengers compared to the corresponding month last year. Other factors contributing to dampened growth in February 2005 included the strong and prolonged winter worldwide, especially in many regions of Europe as well as North America. As a result, FRA was also somewhat affected by flight cancellations and delays. Furthermore, President George W. Bush's visit to Germany on February 23 led to the temporary closure of FRA's runway system, which caused some additional flight delays and cancellations. Airfreight continued its positive growth trend, increasing by about one per cent to 138,802 metric tons in February 2005. The increase was lower than in 2004, because the reporting month did not have a leap-day and because the days of the week fell differently. February 2004 had five of the typically traffic-intensive Sundays, compared to only four in February 2005. Furthermore, this year the Chinese New Year's festival fell in February. As a result, production in Asian growth markets stopped and less airfreight tonnage was shipped.
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China Galileo Industries Ltd. has been officially appointed to handle China's participation in the European-based Galileo Project, according to an agreement signed Wednesday in Beijing by China Galileo and the National Remote Sensing Center of China. Four other companies jointly form China Galileo: China Aerospace Science and Industry Corporation (CASIC), China Electronics Technology Group Corporation, China Satcom and the Chinese Academy of Space Technology. The four companies will help promote cooperation with the European Union in commercializing the civilian use of the Galileo satellite navigation system in China. They will also build an intelligent transport system based on information provided by Galileo, according to Yin Xingliang, general manager of CASIC. Firms in some participating EU countries have already set up joint ventures with CASIC and other Chinese corporations to manufacture navigation equipment in China.
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The consolidation of flight offers in the low-cost carrier (LCC) market made a noticeable showing on Frankfurt-Hahn Airport's (HHN) figures. In February 2005, HHN's traffic grew by a moderate three per cent to 191,585 passengers. The cargo volume at HHN grew markedly faster, increasing by eight per cent to 15,011 metric tons - mainly because of strong growth in freighter flights.
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Elbit Systems reported that it received notification from the Bulgarian Ministry of Defense announcing the stoppage of the tender process for the Mi-17 and Mi-24 helicopter program. This follows the Company's announcement on December 21, 2004 that the team led by the Company and Lockheed Martin was selected as the preferred bidder for the program. The Company is exploring with the Bulgarian Ministry of Defense the implication of the announcement and the possibility of resumption of the negotiations. The program has not been included in the Company's backlog of orders
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Germanwings has announced that Berlin-Schönefeld will become a new base (the third after Cologen/Bonn and Stuttgart) and will station two airplanes there. Germanwings thus offer a flight volume there “almost so large like in Cologne Bonn two and a half years ago“, said Dr. Joachim Klein, chairperson of the management of Germanwings, in Berlin at the beginning of the tourism fair ITB. The airline begins its new Berlin-program on the 5 June 2005. Next to the already existing destinations Cologne Bonn and Stuttgart flights to Ankara, Dusseldorf, Istanbul, Moscow, Munich, Split, Stockholm and Zagreb will be on offer. All new goals except Moscow can be booked from Friday, 11 March. Germanwings expands also its network from Cologne Bonn further: next to the new destinations Ankara, Birmingham and Verona the airline will fly also to Moscow and Dubrovnik from the summer 2005 and will expand therewith its services to Eastern Europe. With Moscow and Dubrovnik, Germanwings offers 39 destinationen from Cologne Bonn. In 2004, 3.5 million guests flew with Germanwings (plus 44 percent in comparison with the year 2003), the revenue climbed from 150 to 247 million Euros (plus 65 percent). A load factor of more than a 82 percent was recorded.
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Rockwell Collins announced that Lufthansa CityLine recently performed its first low visibility take-off using Rockwell Collins Flight Dynamics Head-Up Guidance System (HGS). The Bombardier CRJ200 was taking off from Milan's Malpensa airport under foggy conditions. The reported visibility was below 150 meters runway visual range (RVR), which is normally required for take-off at Malpensa. With HGS, Lufthansa CityLine can take-off in visibility conditions as low as 75 meters RVR. Lufthansa CityLine operates a fleet of 43 CRJ 200 and 20 CRJ 700 aircraft, which are all equipped with the Rockwell Collins Flight Dynamics HGS. Operational approval for the low-visibility take-off capability was granted by the Luftfahrtbundesamt on Oct. 31, 2004. Sixty-eight airports in Europe are capable of supporting low visibility take-off operations.
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EADS Defence and Security in Spain has announced the successful conclusion of the Eurofighter Cold Environmental Trials campaign, carried out in North Sweden during approximately three months. This campaign has worth the verification of the operative capabilities and perfect behaviour of this weapon system at extreme weather conditions. “We are very proud to announce the complete success of this campaign” said Fernando Plaza, Programmes Director, “we have completely fulfilled the CET programme and positively evaluated the capabilities of the Eurofighter in such extreme conditions. During the campaign the aircraft and its systems have showed an excellent behaviour with an exceptional low rate of failures. From Spain we have followed step by step the proceeding of the trials and strongly supported the team deployed at Vidsel, even though they have hardly needed our help. All have been more than efficient and have demonstrated to be able to react in difficult situation, fact that confirms that we rely on great professionals. I would like to take this opportunity to thank the Authorities and Institutions that have offered their support and contributed to the success of the campaign”.
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A team led by researchers at NASA's Langley Research Center, Hampton, Va., designed, built and equipped dozens of Mesaba Airlines aircraft with the Tropospheric Airborne Meteorological Data Report (TAMDAR) instrument. The TAMDAR sensor allows aircraft flying below 25,000 feet to automatically sense and report atmospheric conditions. Observations are sent by satellite to a ground data center. The center processes and distributes up-to-date weather information to forecasters, pilots and those who brief pilots. The TAMDAR instrument was developed by the Georgia Tech Research Institute, Atlanta, and AirDat, L.L.C., Morrisville, N.C., for NASA's Aviation Safety and Security Program. The TAMDAR is compact and weighs only 1.5 pounds. The instrument measures humidity, winds, pressure, temperature, icing and turbulence with the help of location, time and altitude provided by built-in Global Positioning System technology. Large airliners fly above most weather and collect limited atmospheric data. When equipped with the TAMDAR sensor, regional aircraft, which typically fly below 25,000 feet, will provide more information to weather forecasters and the aviation community. "The TAMDAR team has worked to develop a lightweight, affordable airborne sensor that can be used to automatically report conditions," said Taumi Daniels, TAMDAR project leader at Langley. "Our goal is give pilots better weather information, so they can make better decisions in flight."
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Ahead of a parliamentary budget committee meeting next week, members of the Green party are refusing a costly project which would make German participation in the air defense air system MEADS irreversible. German companies and Social Democratic Defense Minister Peter Struck view MEADS as being strategically important, as it would be the only NATO-commissioned defense project carried out jointly by the United States and European nations, notably Germany and Italy. According to NATO, the Medium Extended Air Defense System would replace current Hawk and Patriot interceptors. The initiators of MEADS credit it with the ability to protect forces and fixed installations against attacks by current and next-generation tactical ballistic missiles. It's been promised that MEADS as a surface-to-air system will have greater firepower and require less manpower than its predecessors. But whether a new system is required at all for such a specific purpose remains a highly contested question among German parliamentarians.
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The five front-running RAF bases to be one of two homes for the RAF's new Joint Combat Aircraft (JCA) are RAF Leeming, RAF Cottesmore, RAF Marham, RAF Lossiemouth and RAF St Mawgan. The first phase of the basing study has concluded that RAF Leeming, which had not previously been considered, may be a suitable option and it will therefore be considered along with the other bases in the second phase of work which will report later in the year.
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The Dutch ministry of defence has awarded a contract to EADS to supply technical systems for Future Ground Based Air Defence (FGBAD). FGBAD NL is the reconnaissance and command system of the future for the Dutch army's anti-aircraft operations. It will modernise the air surveillance network and ensure the interoperability and compatibility of the air defence systems used by the armed forces in the Netherlands with those of their NATO partners. The system thus represents an important step forward for the Netherlands in fulfilling present-day air surveillance requirements. Individual components of the system will also be used by crisis reaction forces at home and abroad.
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The U.S. aerospace industry expanded its foreign trade surplus in 2004, increasing the positive balance by $4 billion to reach $31 billion, AIA announced. The news underscores the industry's importance, AIA President and CEO John W. Douglass said, especially with earlier positive reports on sales and employment. "Aerospace has proven once again it is a huge boon to the U.S. economy in more than one measure," Douglass said. According to statistics complied by the AIA Aerospace Research Center, the industry saw an increase in exports of $4.3 billion and an increase in imports of approximately $400 million. The positive trade balance in 2003 was $27 billion. Foreign sales rose 8 percent to $57 billion in 2004, including a $1 billion increase in military exports and $3.3 billion jump in civil aerospace exports. While commercial aircraft exports were down about $900 million, other areas made up for the decrease. For example, general aviation exports jumped approximately $600 million and helicopter sales rose 54 percent to $313 million. Exports of complete engines, engine parts and aircraft parts increased $2.6 billion. Exports of spacecraft, satellites, and parts increased dramatically, doubling to $575 million.
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Intelsat General Corporation (IGC), launched its new GlobalConnex Network Broadband service at the AFCEA TechNet Tampa show, March 8-9. The service uses a bundle of satellite capacity, teleport facilities and hubs through fixed and portable Very Small Aperture Terminal (VSAT) dishes to create virtual private networks (VPN) carrying VOIP, video and other data applications such as Internet access, e-mail and multimedia to anywhere in the world. With this service, IGC military and government customers can communicate and transmit information from remote environments, where ground-based infrastructure may not exist, may be unreliable, or for security reasons must be bypassed.
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Kongsberg Satellite Services has signed a contract with the Orbimage company of Virginia in the USA for the downloading of data and the control of the OrbView-5 (Nextview 2) satellite. The contract has an initial value of MNOK 43. With options, it has a potential value of MNOK 199 over a 10-year period. As a result of this contract, Kongsberg Satellite Services will be establishing TrollSat, a new receiving station for satellite data in the Antarctic. Subject to final approval by the Norwegian authorities, TrollSat will be established in conjunction with Troll, the Norwegian research base run by the Norwegian Polar Institute.
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Swiss International Air Lines (Group) has reported a result from operating activities (EBIT) of minus CHF 122 million for 2004 on total income from operating activities of CHF 3 642 million. For the previous year SWISS recorded an EBIT before restructuring costs of minus CHF 498 million. The 2004 EBIT result includes impairments of CHF 174 million and non-recurring income of CHF 163 million. SWISS posted a consolidated net loss of CHF 140 million for the 2004 business year, which compares to a net loss of CHF 687 million (including restructuring costs) recorded for 2003. Swiss International Air Lines (Group) generated total income from operating activities of CHF 3 642 million for 2004 (prior year: CHF 4 126 million). Earnings before interest and taxes (EBIT) for the year improved CHF 376 million to minus CHF 122 million (prior year: minus CHF 498 million before restructuring costs). The EBIT result was burdened by a CHF 174 million impairment for value adjustments to regional aircraft and buildings. However the EBIT result also includes non-recurring income amounting to CHF 163 million. This consists of a second-quarter CHF 68 million book gain deriving from the settlement of the legal dispute with HOLCO and a further CHF 95 million accrued in the fourth quarter, primarily from provision adjustments and from non-recurring income relating to the transfer of slots at London Heathrow Airport, for which British Airways made a part-payment in this period. The increase in fuel prices to record levels added approximately CHF 120 million of operating expenses in 2004. “While our quarterly operating results exceeded their prior-year equivalents in every period in 2004, our overall net result for the year is not satisfactory,” said Christoph Franz, President & Chief Executive Officer of SWISS. “Our company did make impressive progress and improved its result by approximately ten percent of annual turnover, and this confirms to us that the path we have taken is a promising one, but the actions we announced in January are indispensable if we are to become and remain a sustainably competitive company”, he continued. Cash flow from operating activities: The negative cash flow of minus CHF 340 million in 2003 was turned into a positive CHF 189 million in 2004, an improvement of CHF 529 million. This was achieved primarily through substantial progress on both the cost and the revenue fronts. Active cash management also played a major role in stemming the drain on liquid funds.
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"More people than ever are flying, 1.8 billion in 2004, and the challenges to the industry have never been so great. Airlines must meet customer expectations for cheaper travel while retaining the value of service quality and the network system and returning value to shareholders," said Giovanni Bisignani, Director General and CEO of the International Air Transport Association in the keynote speech of the first Aviation Day at Berlin's ITB. Highlighting the industry's need for change Bisignani said, "We need to become a low cost industry. Our partners and governments must understand this and do their share. IATA is leading a comprehensive programme to Simplify the Business of the aviation industry that will cross all sectors of the travel industry. Simplifying the business rests on five core projects designed to improve service while cutting costs: 100% e-ticketing globally by the end of 2007, bar coded boarding passes radio frequency identification for baggage management , common use of self service kiosks for check-in, paperless cargo. The trick is to turn what airlines have achieved individually into industry systems. E-ticketing is our main focus. We ended 2004 with nearly 19% of tickets processed through IATA being E-tickets. By the end of 2005 we will be at 40% and we are confident to meet our 100% target by the end of 2007," said Bisignani.
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On 8 March, British Airways announced the appointment of Willie Walsh as its new chief executive officer. Mr Walsh, previously CEO of Aer Lingus, begins as chief executive designate on May 3. Rod Eddington will retire at the end of September at which stage Mr Walsh will become chief executive. Martin Broughton, the airline's chairman, said: “Willie has an outstanding reputation in the airline industry around the world for the way in which he transformed the fortunes of Aer Lingus from a high-cost underperforming carrier into a successful and profitable entity. “Many commentators have rightly said that Rod Eddington will be a hard act to follow but I am completely confident that in Willie we have captured the very best person for the job. Rod Eddington said: “I am delighted that Willie has agreed to join British Airways and replace me as CEO and I look forward to working with him during our handover.”
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