Kingfisher posts Q2 net loss of 4.19bn rupees

"India's Kingfisher Airlines has narrowed its losses in its second fiscal quarter due to its cost control measures. In the three months ending 30 September, the airline had a net loss of 4.19 billion rupees ($89 million) compared to a net loss of 4.83 billion rupees in the corresponding period a year before. In terms of expenses, aircraft lease costs remained virtually unchanged at 2.8 billion rupees but employee costs were 18% lower at 1.7 billion rupees and aircraft fuel costs were 44% lower at 4.6 billion rupees." Flightglobal

Programme A400M : la renégociation du contrat suspendue aux décisions allemandes

"Ces dernières semaines, l'Allemagne semblait ne plus vouloir renégocier le contrat de l'avion militaire. Le ministre français de la Défense, Hervé Morin, va s'en expliquer avec son nouvel homologue, Karl-Theodor zu Guttenberg. Un nouveau moratoire n'est pas exclu.

Le contrat, rien que le contrat. Le prix, rien que le prix. L'Allemagne cause quelques tracas à ses six partenaires du programme A400M, en laissant entendre ces derniers temps qu'elle ne souhaite plus renégocier les termes financiers du contrat conclu en 2003. Contrairement à l'engagement pris ce été au Castellet, dans le Var, où ces mêmes pays s'étaient donné jusqu'à la fin de l'année pour parvenir à un nouvel accord avec EADS, seule façon de sauver le programme d'avion de transport militaire d'une fin brutale. A Paris, le sujet est suffisamment pris au sérieux pour qu'Hervé Morin, le ministre de la Défense, ait décidé de s'en ouvrir très rapidement à son nouvel homologue, Karl-Theodor zu Guttenberg." Les Echos

Boeing to Place Second 787 Assembly Line in North Charleston, SC

"Boeing announced that it has chosen its North Charleston, S.C., facility as the location for a second final assembly site for the 787 Dreamliner program. Boeing evaluated criteria that were designed to find the final assembly location within the company that would best support the 787 business plan as the program increases production rates. In addition to serving as a location for final assembly of 787 Dreamliners, the facility also will have the capability to support the testing and delivery of the airplanes.

"Establishing a second 787 assembly line in Charleston will expand our production capability to meet the market demand for the airplane," said Jim Albaugh, president and CEO of Boeing Commercial Airplanes. "This decision allows us to continue building on the synergies we have established in South Carolina with Boeing Charleston and Global Aeronautica," he said, adding that this move will strengthen the company's competitiveness and sustainability and help it grow for the long term." Boeing

Montée en puissance du 787: Boeing va ouvrir une 2e ligne d'assemblage

"Le constructeur aéronautique américain Boeing a annoncé mercredi la montée en puissance du programme de construction de son nouvel avion 787, dit "Dreamliner", avec l'ouverture prochaine d'une deuxième ligne d'assemblage en Caroline du Sud (sud-est), loin de son fief de Seattle." Les echos

China :State firms' hedging deals under lens

"State-owned firms looking to hedge their losses from rising crude oil prices will now be supervised more stringently. The State-owned Assets Supervision and Administration Commission (SASAC) has required companies under its control to scrutinize hedging deals more closely while signing financial derivatives contracts.

The move follows rising book losses from hedging contracts suffered by such State-owned firms as China Eastern Airlines and Air China, who have only recently begun to narrow down such losses-on-paper from former hedging deals. SASAC tightened the rules during a recent budget meeting convened by State-owned enterprises. "The futures trading volume should not exceed 90 percent of the spot volume. And, the percentage for those who are inexperienced in such trades or those who have reported significant losses previously will be no higher than 50," said Shen Ying, director-general of the SASAC Statistics Evaluation Bureau, during the meeting.

SASAC also clarified that it would defend the legal interests of hedging firms through negotiations with investment institutions in case there are misleading clauses in previously signed deals.

Luo Zhuping, board secretary with China Eastern, however said that he was not aware of any such moves, and that fuel hedging deals were very much in practice.

Last year, China Eastern posted a book loss of 6.4 billion yuan in fuel hedging bets, while Air China lost nearly 7.47 billion yuan.

The two carriers signed hedging contracts with international investment institutions last year, which are due for delivery between 2009 and 2011.

China Eastern said it has stopped signing new hedging contracts with foreign investment banks after SASAC's order. Currently, the Shanghai-based carrier has less than 35 percent of its total fuel demand covered under hedging deals, said an official who asked not to be named.

Huang Bin, board secretary with Air China, had said earlier that the airline had made adjustments to its contracts starting from the end of 2008 and clarified that it had not signed any new hedging contract ever since.

NYMEX crude oil for December 2009 delivery climbed to over $80 per barrel yesterday, the ninth consecutive day that it has increased, doubling from last December's record low of $40 per barrel.

The higher crude oil prices over the past months have helped the two domestic carriers to report net profits. China Eastern reported a 2.79-billion-yuan gain and Air China posted a 1.45-billion-yuan profit.

The Civil Aviation Administration of China (CAAC) said domestic carriers realized a profit of 8 billion yuan as of middle-September, its own data showed. CAAC has forecast that domestic carriers will handle a throughput of over 200 million passengers this year, and thanks to the recovered domestic economy, the aviation market will see robust growth this year."

Source

Ravitailleurs : EADS accuse le Pentagone de favoriser Boeing

"Le président exécutif d'EADS, Louis Gallois, a accusé hier les Etats-Unis de favoriser Boeing dans l'appel d'offres pour les ravitailleurs de l'armée de l'air américaine, en ayant fourni au groupe américain le prix de l'appareil conçu par Northrop Grumman et Airbus. « Bien sûr, c'est pratique pour.." Les Echos

Lufthansa's A380s

"Here's something to make you ponder. Lufthansa has its first A380 in Hamburg being fitted out. The airline plans to accept five into its fleet next year. In total it has 15 on order. Earlier this week, Panasonic and Lufthansa proudly announced that the airline's FlyNet service is coming back. But here's the rub. Of the airline's 95 long haul planes to be fitted with FlyNet, the A380s are not included. Imagine that, the flagship won't have the service. At least not until they have a refit. " IAG

Boeing 787 Dreamliner Side-of-Body Modification Progressing Well

"Today, Scott Fancher, vice president and general manager of the Boeing 787 Dreamliner program, issued this statement regarding the side-of-body modification: “The design of the side-of-body solution is on track. Installations of the fittings are proceeding well and we are pleased with the progress we are making on this important effort. We continue to be on track to fly the 787 by the end of the year.” A more detailed update will be provided on Oct. 21 during Boeing third-quarter earnings call. Boeing.com

Le PDG d' Eurocopter annonce une profonde réorganisation

"La crise économique, qui se conjugue à une crise de croissance, oblige la filiale hélicoptères d' EADS à se serrer la ceinture, tout en revoyant de fond en comble sa façon de travailler. Nom du programme : Shape.

Baisse des prises de commandes de 70 % », « investissements insuffisants », programmes militaires qui tirent la marge vers le bas, « dégradation générale » des performances industrielles, développement « disproportionné » des fonctions support. C'est un constat sans appel pour Eurocopter que dresse son PDG, Lutz Bertling. Dans un courrier adressé en fin de semaine dernière aux salariés, le dirigeant ne cache pas que la situation de la filiale d'EADS - conjugaison d'une crise de croissance et de la crise financière - est très « grave », « lourde de conséquences » et « éprouvante » . D'où la décision du comité exécutif d'abandonner le programme de transformation Vital, lancé en 2005, au profit d'une nouvelle initiative, baptisée Shape..." Source.

TUI Cancels Part Of Order For 23 787s

"Europe’s largest tourism group, TUI Travel, yesterday canceled orders for 10 Boeing 787s. The aircraft were part of a larger order for 23 787s. According to the new agreement with Boeing, TUI will continue to have 13 aircraft on firm order while it now adds purchase rights for 13 additional 787s. The decision means Boeing now has lost orders for 83 787s as a result of development and production delays, as well as the economic downturn. Last month, Air Berlin indicated it is looking at canceling its order for 25 787s, but it has not made a firm decision yet. TUI did not specifically say why it canceled the 10 787s, saying only that the move “optimizes the flexibility around our long-haul capacity.” It expects to receive delivery of the first 787 aircraft in early 2012." Aviation Week

Ryanair threatens to delay, cancel Boeing 737 orders

"Michael O'Leary, Ryanair's publicity friendly chief executive, very publicly asked Boeing for a discount Friday, according to an analyst's account. Speaking at an investors day event, O'Leary threatened to suspend and potentially cancel future 737 deliveries over price disagreements, according to an account by Morgan Stanley's Heidi Wood, reprinted at Leeham News and Comment. Ryanair's 113 firm unfilled orders account for 5 percent of Boeing's 737 backlog, Wood wrote." Source

Commande d'avions : Ryanair pose un ultimatum à Airbus et Boeing

" La compagnie aérienne à bas coût est prête à revoir ses projets de croissance pour l'après-2012, si elle ne parvient pas à conclure une commande d'avions avec Boeing ou Airbus d'ici à la fin de l'année" Les Echos

Spain "very optimistic" on Airbus A400M

"Spain is "very optimistic" a deal will be reached to rescue Europe's largest defence project, the delayed Airbus (EAD.PA) A400M military transport plane, defence minister Carme Chacon said on Monday.

Seven European NATO nations have agreed to renegotiate their contract with Airbus parent EADS to try to prevent production delays and financial losses derailing the 20 billion euro ($29.3 billion) project.

They have called a meeting for mid-October in Germany. Asked how optimistic she was about the outcome of that meeting, Chacon said, "A lot. Spain is very optimistic about our capacity to agree and co-operate in our goal, which is a strong policy for the European defence industry." reuters

Airbus peine à normaliser la production de l'A380

"Le rythme de livraison du très gros porteur d'Airbus, toujours en proie à des problèmes de fabrication, devrait rester en deçà des objectifs cette année, ainsi qu'en 2010. D'autre part, un A380 de la compagnie Singapore Airlines a dû revenir à Paris avec un moteur en panne, une première dans l'histoire de l'appareil.

Cette année ne sera pas celle de la maturité pour l'A380. Entre les reports de commandes des compagnies aériennes et les retards de fabrication, le très gros porteur d'Airbus reste toujours en deçà de ses objectifs pourtant revus à la baisse à plusieurs reprises. Et, selon toute vraisemblance, les cadences de production resteront légèrement inférieures aux prévisions durant les deux prochaines années.

Ainsi cette année, l'objectif de livraisons, déjà ramené de 18 à 14 exemplaires en mai dernier, risque de ne pas être atteint. « En accord avec Singapore Airlines, nous avons repoussé la livraison du quatorzième appareil à janvier », indique un porte-parole d'Airbus. C'est seulement un de plus qu'en 2008, quand les A380 étaient encore entièrement câblés à la main sur le site de Toulouse, par quelque 2.000 « compagnons » allemands." Les Echos