Sunday, December 30, 2018

Gulfstream G650(ER) (c/n 6315) N900NC

Blasts out of Los Angeles International Airport (LAX/KLAX) from Rwy 25R on December 29, 2018.

(Photo by Michael Carter)

Friday, December 21, 2018

Cessna Citation Longitude achieves provisional type certification

Textron Aviation Inc., a Textron Inc. company, today announced its Cessna Citation Longitude super-midsize jet has achieved provisional type certification (PTC) from the Federal Aviation Administration. The PTC allows operators to begin Citation Longitude flight training in preparation for deliveries early next year and paves the way for the program’s final phase of certification.

“From an unmatched cabin experience to its commanding performance, the Citation Longitude truly sets a new standard for the business aviation industry,” said Ron Draper, president and CEO, Textron Aviation. “Our focus remains on equipping our customers with this revolutionary aircraft, and achieving this milestone is a pivotal step as we complete the final phase of the program.”

Activity and interest in the aircraft remains strong as customers experience its capabilities firsthand. Earlier this year, the Citation Longitude completed a world tour, circumnavigating the globe and demonstrating impressive performance figures along the way.

The Longitude flight test program, including functional and reliability testing, is complete. During testing, the aircraft completed more than 1,650 flights and accumulated more than 4,050 hours. Longitude production is also underway in Textron Aviation’s state-of-the-art manufacturing facility where the jet benefits from cutting-edge assembly methods.

About the Citation Longitude

With a range of 3,500 nautical miles (6,482 kilometers) and full fuel payload of 1,600 pounds (726 kilograms), the Citation Longitude is designed to elevate passenger expectations in the super-midsize class by delivering the quietest cabin, a low cabin altitude (5,950 feet/1,814 meters), more standard features and a comfortable, bespoke interior. With seating for up to 12 passengers, including an optional crew jump seat, the Longitude features a stand-up, 6-foot tall flat-floor cabin. A standard double-club configuration delivers the most legroom in the super-midsize class. Fully berthable seats are designed and manufactured in-house and a class-leading walk-in baggage compartment is accessible throughout the entire flight. State-of-the-art cabin technology enables passengers to manage their environment and entertainment from any mobile device, while high-speed internet maximizes in-flight productivity.

The clean-sheet design of the Longitude integrates the latest technology throughout the aircraft, bringing customers the lowest ownership cost in its class. It features the next evolution of the Garmin G5000 flight deck and is powered by FADEC-equipped Honeywell HTF7700L turbofan engines with fully integrated autothrottles with envelope protection. With Garmin’s new Head-up Display (GHD 2100) and enhanced vision capability, the Longitude facilitates eyes-up flying. The spacious cockpit incorporates easier access and an ergonomic design that fully focuses on crew comfort and efficiency.

No super-midsize business jet offers more range, greater payload or higher cruise speed at a lower expected total ownership cost. The Longitude is designed to feature the longest maintenance intervals in its class – 800 hours or 18 months – expected to make it the most cost effective to operate in its category.

(John Hall - Premier Jet Aviation / JetAv News)

Boeing acquires option on 58-acre Everett property for potential new facility at Paine Field

Boeing and Snohomish County's Paine Field Airport have signed a deal for the company to potentially lease 58 additional acres for its sprawling Everett jet-manufacturing operations.

The option agreement, signed Dec. 11 by county officials and Boeing real estate manager Marc Poulin, says Boeing wants the property for "constructing additional aerospace manufacturing facilities and supporting infrastructure, including a taxi lane" to support existing Everett operations.

Boeing Commercial Airplanes spokesman Paul Bergman said the company acquired the option to support "anticipated capacity requirements for airplane storage and ongoing business needs at the Everett Modification Center and Everett Delivery Center."

Boeing agreed to pay the county $123,374 in 2019 for an exclusive one-year option to lease the extra property on the west side of the airport business park.

The option can be extended a second year for $123,374 more, county records state.

That deal now allows Boeing, at its own cost, to carry out detailed engineering studies on the property, including soil tests and borings, to determine its suitability.

Boeing makes 787 Dreamliners and 747 Freighters at its multi-building Everett manufacturing complex.

It also makes 767 freighters and uses 767 airframes and converts them into military KC-46 aerial refueling tankers at the Everett Modification Center.

This summer, Boeing parked several KC-46 tankers in various stages of completion on Paine Field airport taxiways, including some without engines. Months later, the U.S. Air Force still hasn't accepted its first KC-46 tanker for delivery.

Boeing also needed extra space to park 737s earlier this year in Renton after suppliers were late with fuselage and engine deliveries. But last week Boeing released data showing the company has started to recover from those challenges.

Boeing also is weighing plans to build a New Mid-Market Airplane, which some have called the 797, and expects to decide to go ahead with the new jet or not in 2019.

Washington state is working to persuade Boeing to build the proposed new wide-body jet here.

Bergman noted Boeing's long-standing relationship with the Snohomish County airport for airplane manufacturing and pre-delivery activities at the Everett site.

"We are committed to real estate solutions that benefit both the company and the surrounding community and that support the continued Boeing investment in Everett," Bergman said in an email.

Snohomish County records state if Boeing executes its option and signs a long-term property lease, it would generate $1.23 million per year in rent revenue for the Paine Field Airport Fund.

The Everett Herald first reported Boeing's lease option agreement on Monday.

(Andrew McIntosh - Puget Sound Business Journal)

Boeing Gets Another $11.7 Billion in 737 MAX Orders

One hundred orders for the 737 MAX

Within just a week, Boeing has received another major order for its 737 MAX series aircraft from an African airline company. The airplane manufacturer announced yesterday that Green Africa Airways had ordered 100 planes, which were valued at a list price of $11.7 billion. The commitment was evenly split into 50 firm aircraft and 50 options.

As per the company, the latest deal is the largest aircraft agreement from an African nation. According to Boeing’s recently updated 20-year commercial market outlook, the African continent will need 1,190 new planes over the next 20 years.
The recent order came within a month of Caribbean Airlines ordering 12 similar planes on November 21. Though the details of the list price and delivery remain unclear, the first plane is likely to be delivered by the end of next year.

Just a day earlier, on November 20, South Korean airline Jeju Air ordered 40 737 MAX airplanes with options for ten additional jets. The transaction is valued at ~$5.9 billion at list prices, and the company has to deliver the aircraft between 2022 and 2026.

The 737 Max: Boeing’s fastest-selling plane

The 737 MAX is one of the major contributors to Boeing’s revenue growth. The 737 MAX model is Boeing’s most advanced aircraft in the single-aisle category. It provides superior economy and fuel efficiency. The single-aisle models come with a capacity of more than 90 seats.

The 737 MAX model is Boeing’s fastest-selling plane in history. Boeing has received a cumulative more than 4,800 orders from 100 customers worldwide for this model. Major US air carriers American Airlines and United Continental have placed orders for 100 planes each, while Southwest Airlines has placed an order for 280 planes.

Record results

Boeing reported its third-quarter earnings results on October 24. The company posted a 4% YoY (year-over-year) revenue rise to $25.1 billion in the quarter. Its core EPS rose 37% YoY to $3.58, higher than analysts’ consensus estimates of revenue of $23.91 billion and EPS of $3.47.

Strong growth in the company’s Defense segment’s revenue seems to have fueled its revenue growth. The segment’s revenue rose 13% YoY to $5.7 million in the quarter. The Defense segment’s orders have been on the rise recently given the boost in US defense spending.

The Commercial Airplanes segment, on the other hand, recorded a 1% YoY revenue fall to $15.3 billion as a result of Boeing’s aircraft deliveries falling 6% YoY to ~190 aircraft compared to the 202 aircraft it delivered in the third quarter of 2017. Boeing’s slowing deliveries are a known factor given the many supplier issues it faces.

Raised guidance

Boeing’s investors have reason to celebrate, as the company has again raised its 2018 revenue and earnings guidance. The company now expects to clock revenue in the range of $98 billion–$100 billion, $1 billion higher than its previous estimates, fueled by the performance of its Defense segment. It expects to clock core EPS in the range of $14.90–$15.10 compared to its earlier guidance of $14.30–$14.50. It has maintained its operating cash flow guidance at $15.0 billion–$15.5 billion.

Stock rises Investors should keep a close eye on the stock. Despite persistent supplier issues, Boeing has maintained its commercial airplane delivery target at 810 for the year, a big jump from the 568 it delivered as of the third quarter.

(Andrew Brunton - Market Realist)