Printer Friendly

Aircraft News - Europe.

For more aircraft news, data, fleets and analysis, please go to: http://www.airguideonline.com/professional.htm Sep 11, 2006

Airbus

Airbus has replaced the head of the A380 program in another move designed to calm clients involved with the troubled project. Charles Champion's move comes just two months after a crisis over production delays led to the resignation of the company's chief executive and the co-head of parent EADS. Airbus said Champion had been replaced by Mario Heinen, who was in charge of the A320-family jets. Champion will continue as an advisor to the company. The change came as hundreds of employees took part in test flights from Toulouse. Sep 10, 2006

Airbus

The Airbus A380 program was boosted Monday when a test aircraft carrying 474 "passengers," described as Airbus employees and "cabin experts," completed the first of four test flights scheduled for this week. The first lasted 7 hr. and the remaining flights will go as long as 15 hr. Sep 6, 2006

Airbus

Airbus A380 makes first test flight, program gets new leader. The Airbus A380 superjumbo jet made its first test flight with a full passenger load in France Monday. The seven-hour round-trip flight from Toulouse to Paris was the first of four test flights scheduled for this week. Airbus also named Mario Heinen to lead the A380 program; he was previously in charge of the A320. Sep 5, 2006

Airbus

Airbus names Heinen new A380 head, completes passenger test flight. Fallout from A380 production delays continued Monday when Airbus removed Charles Champion as head of the next-generation aircraft program and promoted Mario Heinen, its Single Aisle Program chief, to senior VP and A380 Program head. The announcement came the same day as the A380's first passenger test flight. Alain Flourens, executive VP and head of Airbus's Centers of Excellence, will take over Heinen's role and Champion will remain as a special adviser to CEO Christian Streiff. Heinen, 50, takes over a program bedeviled by production delays that have pushed back deliveries twice. Extensive wiring problems revealed in June led to the forced resignations of CEO Gustav Humbert and EADS co-CEO Noel Forgeard (ATWOnline, July 3). Airbus said its management team "is currently working on a review of the A380 industrial situation and the preparation for the launch of the A350" and Streiff plans to report the findings by the end of the month. Sep 5, 2006

Airbus, BAE Systems, EADS

BAe board urges sale of Airbus stake for [euro]2.75 billion. BAE Systems, conceding that it would likely have to wait an "extended period" for the value of its 20% stake in Airbus to rise, decided late Wednesday to sell the holding to EADS for [euro]2.75 billion ($3.52 billion), well below previous estimates that the stake was worth [euro]4-[euro]5 billion. BAE's board said in a regulatory filing that "it is in the best interest of the company to exit at the price determined" rather than to spend the "significant amount of management focus, time and investment" required to help Airbus address its "significant issues." If the sale goes through, as is widely expected, EADS would hold a 100% stake in Airbus. Sep 8, 2006

Airbus, BAE Systems, EADS

BAe was surprised in July when investment bank Rothschild said its stake was worth just [euro]2.75 billion. It pushed back the long-planned divestment and enlisted PricewaterhouseCoopers to perform an independent audit of Airbus that confirmed Rothschild's valuation. BAe's board said it is sending a circular to shareholders with the time and location of an "extraordinary general meeting" required to approve the sale. Repayment of outstanding debt between BAE and Airbus and transaction-related costs will cut BAE's net proceeds from the sale to [euro]1.78 billion, the UK aerospace company said. Sep 8, 2006

Airbus, BAE Systems, EADS

EADS co-CEO Louis Gallois told Le Monde, in response to BAe's statement, that those programs are being examined carefully and results of an internal review will be announced soon. "In July we told the financial markets that the risks and the programs were being studied," he said. "We knew that we had to deal with significant challenges at Airbus. We are working on them, and we will have a complete view in a few weeks" when a revised A380 delivery schedule is announced and new A350 financing likely will be approved. Sep 8, 2006

Airbus, Swiss International

Swiss International Air Lines will acquire a further two A321s and one A320 next spring for its European fleet. The extra capacity will enable the carrier to provide additional feeder services for its long-haul fleet, which will add two A330-200s in November. Swiss said the new aircraft will create some 250 new jobs. Its short-haul fleet comprises six A321s, 15 A320s, seven A319s and 24 Avro RJ85/100s. Sep 6, 2006

BAe Systems, Airbus, EADS

BAe Systems has agreed to sell its 20% stake in Airbus to EADS for [pounds sterling]1.87 billion. If shareholders agree to the deal, pan-European EADS, which owns 80% of Airbus, will own the firm outright. The 13,000 Airbus workers in the UK, where aircraft wings are built, are not thought to be affected by the deal. BAE can sell its 20% stake after a 2001 deal it signed with Franco-German EADS. Sep 10, 2006

Boeing, Air France

Air France to equip entire 777 fleet with Boeing EFBs. Air France ordered Boeing Class 3 electronic flight bags for its fleet of 777s, comprising 42 in-service aircraft and 13 to be delivered. It is the eighth carrier this year to order the Class 3 EFB, Boeing said, adding the order was the "most significant" to date from a European airline. Air France partner KLM was the launch customer for the 777 EFB in 2002. The Dutch flag carrier currently operates 13 EFB-equipped 777s and eventually will have 18. Sep 8, 2006

Embraer, FlyBE

FlyBE is to introduce the first of a $950 million fleet of new Embraer 195 aircraft on routes from Birmingham International Airport. The new generation 118-seat aircraft will enter service on September 29, with others being phased in throughout the year at all of the airline's major bases, including Southampton, Belfast, Channel Islands, Edinburgh and Glasgow. Flybe is launch customer for the E195 which claims to use over 20% less fuel than the BAe 146 it is replacing in the airline's fleet. The new aircraft also offers reduced noise levels, claiming to be 35% quieter than the 146, while it releases fewer emissions per passenger than any other similar sized aircraft, according to Flybe. Sep 6, 2006

SR Technics

Participating in the SR Technics investment is Dubai Aerospace Enterprise, the recently launched investment vehicle for the emirate's global aerospace ambitions headed by former Honeywell Aerospace chief Bob Johnson. DAE will hold 30% of SRT. The third investor is Istithmar, a Dubai-based investment house established by the emirate in 2003. SRT management, which currently holds 11.7% of the company, will retain a 10% stake. Sep 8, 2006

SR Technics

SR Technics had been controlled by venture capital firms 3i (56%) and Star Capital (20%), other institutional investors (12.7%) and SRT management, who acquired it following the collapse of Swissair. Earlier this year it said it had agreed with its controlling investors to conduct an IPO before the end of 2006, but Turner said that sale of the company to the consortium ensures its continued growth and access to capital. In particular, he noted that both the Middle East region and India represent large opportunities for MRO providers. Sep 8, 2006

SR Technics

SR Technics revenues rose 17% last year to CHF1.36 billion and EBIT increased 11% to SRT62 million. However, the company posted a net loss of CHF2.6 million largely owing to currency fluctuations. Sep 8, 2006

SR Technics

UAE investors buy control of SR Technics. A consortium of United Arab Emirates-based investors is to acquire 90% of SR Technics from its current owners in a transaction valued at CHF1.6 billion ($1.3 billion). The consortium is led by Mubadala Development, the investment vehicle of the Abu Dhabi government, which will own 40% of the Zurich-based maintenance, repair and overhaul company after the purchase is completed in about two months. Sep 8, 2006

TAP Portugal, White Airways

TAP Portugal sells White Airways subsidiary. TAP Portugal reached agreement with OMNI Aviation of Portugal for the sale of TAP's small leisure carrier White Airways for an estimated [euro]5 million ($6.4 million). White operates one A310-300 and one L-1011-500. According to the terms, the ownership of the L-1011 is transferred to TAP, due for subsequent alienation, while OMNI will operate the A310 currently under lease. White was established in November 2004 following the restructuring of YES, a former charter carrier that had been created nearly five years earlier by TAP and Abreu Group. TAP recently purchased Abreu's 24% holding in White. Sep 7, 2006
COPYRIGHT 2006 Pyramid Media Group, Inc
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Airguide Online
Date:Sep 11, 2006
Words:1493
Previous Article:Aircraft News - Asia / Pacific.
Next Article:Aircraft News - Latin America / Caribbean.
Topics:


Related Articles
Aircraft News - Europe.
Aircraft News - Europe.
Aircraft News - Europe.
Aircraft News - Europe.
Aircraft News - Europe.
Aircraft News - Europe.
Aircraft News - Europe.
Aircraft News - Europe.
Aircraft News - Latin America / Caribbean.
Aircraft News - Europe.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters