Business

July 16, 2014 - 3:30am

Sparkle Roll Jet chairman Ji Zingzhuo (left) celebrated delivery here at Farnborough of the first P.180 Avanti II Extended Range twin-turboprop with Carlo Logli, CEO of Piaggio Aero.

July 16, 2014 - 2:00am

Piaggio Aero has announced the first major order for its Avanti EVO, the prototype of which is making its airshow debut here at Farnborough (Farnborough Airshow News, Monday, July 14, page 82). Hong Kong-based Bravia Capital has signed an order for 10 aircraft with options for another 40. Deliveries are planned to begin in the first quarter of next year.

July 16, 2014 - 1:55am
AirAsia A330-900neo

More orders for the just-launched Airbus A330neo helped deliver another $50 billion day at the Farnborough International Airshow. AirAsiaX topped the sales ledger with a $13.8 billion memorandum of understanding for 50 of the Rolls-Royce Trent 7000-powered A330-900neos and it will take delivery of its first aircraft in 2018.

Leasing groups Avolon and CIT Group signed $7.7 billion worth of MoUs that will see each of them take 15 A330neos. CIT also ordered five A321neos.

July 16, 2014 - 1:24am

Designing a new aircraft in the 90-seat class is no longer a priority, ATR CEO Patrick de Castelbajac explained yesterday here at the Farnborough International Airshow. “It was something my predecessor was very keen on, as were probably 95 percent of our employees and a number of our customers,” he stated. However, he pointed out that major shareholder Airbus Group believes “the timing is not now” for such an ambitious project.

July 16, 2014 - 1:20am

Embraer has announced a string of orders this week here at Farnborough International 2014, for a total of 158 regional jets (if all options were exercised). The most prominent one came from Trans States Holdings, the parent company of Trans States Airlines, Compass Airlines and GoJet Airlines, for 50 E175-E2 airliners, plus an option for an additional 50. Its first E175 is expected to enter service in 2020.

July 16, 2014 - 1:10am

GE Aviation’s Flight Efficiency Services division is using big data techniques to help airlines to improve their profit margins with a particular focus on reducing fuel burn. “Fuel accounts for 40 percent of airline costs with around $215 billion spent on this each year,” said general manager Giovanni Spitale. “GE thinks that if machines can talk to each other using the industrial internet [a term coined by GE] we can make better sense of that [fuel consumption].”

July 16, 2014 - 12:55am

Mitsubishi Aircraft Corporation here on Monday announced a memorandum of understanding for 20 firm MRJ90 regional jets, with purchase rights for an additional 20 of the type, with Eastern Air Lines Group. Deliveries are scheduled to commence in 2019 and Boeing will support the aircraft.

Eastern Air Lines president and CEO Edward Wegel said the aircraft would be used on routes from the airline’s main base in Miami, Florida, to Latin America and the Caribbean. They will be operated in an 82-seat, two-class configuration, he added.

July 16, 2014 - 12:50am

Bombardier’s just-released market forecast shows a significant drop in anticipated deliveries of business and commercial aircraft during the coming 20 years compared to last year’s forecast. The current forecast is for deliveries from 2014 to 2033.

Last year, Bombardier forecast deliveries of 24,000 business jets worth $650 billion from 2013 to 2032. The current forecast is for 22,000 business jets worth $617 billion. These numbers are for aircraft segments in which it Bombardier competes with its Learjet, Challenger and Global models.

July 15, 2014 - 3:05pm

Bombardier Aerospace’s latest 20-year market forecast, released on Sunday at the Farnborough Airshow, shows a significant drop in anticipated deliveries of business jets compared with its forecast from last year.

The current forecast, which spans from 2014 to 2033, calls for deliveries of 22,000 business jets worth $617 billion. Last year Bombardier predicted demand for 24,000 business jets worth $650 billion from 2013 to 2032. These numbers are for aircraft segments in which the manufacturer competes, with its Learjets, Challengers and Globals.

July 15, 2014 - 2:41pm

Preliminary data suggests second-quarter results for business jet deliveries “will not be impressive,” according to J.P. Morgan North American Equity’s latest business jet monthly update. While its analysts note there are aircraft still missing from the database used to track deliveries, “Preliminary indications are that deliveries will fall short of estimates, with the possible exception of Gulfstream,” noted J.P. Morgan lead aerospace analyst Joseph Nadol III.

 
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