INDUSTRY FACING ITS WORST YEAR
According to IATA, 2009 is expected to be the worst year the aviation industry has faced for 50 years. The latest forecast shows a loss of US$2.5 billion for all regions except the US. Industry revenues are expected to decline to US$501 billion.
CHINA URGES AIRLINES TO PUT ORDERS ON HOLD
China is urging state-owned airlines to cancel or delay orders of new aircraft due to the global economic troubles. The carriers are also asked not to renew leasing contracts with foreign companies. Finally, no new airlines will be allowed to operate before 2010.
LOSSES PREDICTED FOR THE MIDDLE EAST
According to IATA’s forecast, airlines in the Middle East will face losses worth US$200 million in 2009 and the biggest challenge for the industry will be to match capacity to demand as fleet expand.
AIRLINES TO CANCEL JET ORDERS
Airlines around the world are expected to delay or cancel aircraft orders in the coming months as they are facing the global financial pressures. A 3% fall in air travel and losses worth US$35 billion are forecast for 2009 according to IATA. The air transport sector’s economic activity is currently worth US$3.2 trillion and it employs 32 million people worldwide.
WESTJET IN FAVOUR OF THE EU-CANADA AGREEMENT
WestJet, a Canadian low cost carrier has expressed its support to the European Union-Canada air transport agreement. Sean Durfy, President and CEO commented that “the government needs to carry out an overall cohesive and consultative review of the taxes and fees charged to the travelling public in Canada to ensure a healthy and competitive operating environment".
AZERBAIJAN SELECTS ENGINES
Azerbaijan Airlines has selected GE engines (CF6-80C2) for its two new B767-300ERs. The order is valued at US$40 million and delivery will begin in 2010.
UAL RAISES LIQUIDITY
UAL Corporation raised US$150 million on a sale-leaseback agreement by selling 15 B757s to East Shore Aircraft. United Airlines will lease these aircraft back and continue to operate and maintain them.
FURTHER DELAY FOR 787 POSSIBLE
Boeing is expected to delay the first flight of the 787 aircraft until the second quarter of 2009. As a result, the first deliveries to All Nippon Airways will also be delayed until the third quarter of 2010.
RACE FOR BOEING AND AIRBUS
Airbus seems to have a lead over Boeing in 2008. The European manufacturer announced that it has delivered 437 aircraft and has received firm orders for 878 more through November. Due to some cancellations, Airbus has 756 net orders so far this year and Boeing has confirmed 640.
PHENOM 100 CERTIFIED BY ANAC
Embraer's Phenom 100 executive jet received its Type Certificate from Brazil's National Civil Aviation Authority (Agencia Nacional de Aviacao Civil - ANAC).
Certification of the aircraft by the U.S. Federal Aviation Administration (FAA) is expected soon.
CIRRUS TO BEGIN PROCESS FOR FAA VISION CERTIFICATION
Cirrus will begin the process for the FAA Type Certificate for the Cirrus Vision single engine personal jet. Cirrus will not apply for European certification until EASA and FAA reach an agreement on the certification fees and operator user fees.
NETJETS TO RUN TEST PROGRAMMES FOR FRACTIONAL OWNERS
NetJets Aviation has agreed with the FAA to run some test programmes in the US by equipping some of the aircraft it manages for fractional owners with the latest avionics systems. The tests will include the Wide Area Augmentation System (WAAS), Automatic Dependent Surveillance Broadcast, area navigation (RNAV) and Required Navigation Performance (RNP).
PIPER CUTS DOWN PRODUCTION
Piper Aircraft announced that operations will be shut down for three weeks and staff will have reduced hours. The company has received US$32 million to keep its facilities in Vero Beach, FL.
Forthcoming events:
General Aviation in the Middle East - GAME 2009
6th - 8th April 2009
Dubai, UAE
www.miuevents.com/game-09
Financing Aviation in the Middle East – FAME 2009
4th – 5th May 2009
Dubai, UAE
www.miuevents.com/fame-09
European Aviation Finance
4th - 5th June 2009
Riga, Latvia
www.miuevents.com/eaf2009
Very Light Jets - Europe
24th - 25th September 2009
Barcelona, Spain
www.miuevents.com/vlj-e09
Very Light Jets - Latin America & The Caribbean
26th - 27th October 2009
Rio de Janeiro, Brazil
www.miuevents.com/vlj-lac-09
International Air Taxi & Charter Convention - IATC 2009
11th - 12th November 2009
Dubai, UAE
www.miuevents.com/iatc09 |
