Asia-Pacific Aerospace Briefs Today
March 25th 2024
Today's briefs report news from AAR Corp, Akasa Air, BOC Aviation, Boom Supersonic, CAE, FedEx Corporation, Pratt & Whitney and Singapore Airlines. Read More »
Maintenance services provider, AAR Corp, has reported a net profit of US$14 million for the three months to February 29, a decline of 35.8% over a net profit of US$21.8 million in the comparable previous period. Revenue rose 8.9% to US$567.3 million, the company said in a regulatory filing. “We expect commercial demand to remain elevated as the life and high utilisation of current generation aircraft continue to extend,” AAR Corp CEO, John Holmes, said.
Akasa Air has signed a 15-year 737 MAX pilot training agreement with CAE, with pilots to be trained at CAE's facilities in India. CAE has been training the India-based airline's pilots since the airline commenced commercial flying in 2022.
BOC Aviation has retaken possession of two 747-8F freighters previously leased to Russian airlines. The lessor said the aircraft were exported from Russia this month. “The recovery of these aircraft will have a positive impact on the company’s financial results for 2024 in an amount that will be determined after we complete our assessment of the condition of the aircraft,” BOC Aviation said in a regulatory filing. “The company also will assess the implications of the recovery on its insurance claims in respect of these aircraft.”
Boom Supersonic late last week completed the inaugural flight of its XB-1 demonstrator aircraft at the Mojave Air and Space Port in California. “It marks the most significant milestone yet on our path to bring supersonic travel to passengers worldwide,” Boom Supersonic founder and CEO, Blake Scholl, said.
FedEx Corporation has reported a net profit of US$879 million for the three months to February 29, up 14% from a net profit of US$771 million in the three months a year ago. Revenue fell 1.9% to US$21.7 billion, FedEx said in a regulatory filing. “FedEx delivered another quarter of improved profitability in what remains a difficult demand environment,” FedEx CEO, Raj Subramaniam, said.
Pratt & Whitney, the Missouri University of Science and Technology, the U.S. Federal Aviation Administration, Aerodyne Research, Inc. and the U.S. Environmental Protection Agency have launched a study to measure emissions from engines using conventional Jet A aviation fuel compared with engines using 100% sustainable aviation fuel.
Singapore Airlines (SIA) has raised US$500 million via the issue of 10-year notes with an interest rate of 5.25%. The notes listed on the Singapore Exchange on March 22 and have a maturity date of March 21, 2034, SIA said in a regulatory filing. The notes were issued as part of the company's S$10 billion (US$7.4 billion) multicurrency medium-term note program.
