April 29th 2024

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Today's briefs report news from Asia Aviation Public Company Limited, Boeing, Embraer, HAECO, RTX, Safran and Thai AirAsia. Read More »

Embraer has announced plans to hire 900 staff in 2024 as part of a US$390 million investment to meet increased aircraft production and anticipated growth generated by new businesses, products and services. The company employs around 91,000 direct employees across its global operations with 88% of its workforce based in Brazil.

Thai AirAsia is seeking to raise 1.5 billion baht (US$40.5 million) through the issuance of debentures with a term of two years and six months and a coupon rate of no more than 5.9% a year, the LCC's parent company, Asia Aviation Public Company Limited (AAPC), said. “Thai AirAsia will offer the debentures to institutions and high net worth investors. The subscription date is from May 7to may 9,” AAPC said in a regulatory filing.

Ratings agency, Fitch Ratings, has cut its outlook for Boeing to negative from stable. “The negative outlook reflects Boeing's heightened execution risks in the next 12 to 24 months as it eliminates legacy inventory, stabilises and increases aircraft production rates, navigates seasonal cash flow volatility, pursues additional corporate actions that should enhance longer-term operations and fulfils its commitment to repay debt and return to [investment grade] metrics,” Fitch Ratings said.

MRO services company, HAECO, said construction of its Hangar 1 at Xiamen Xiang’an International Airport achieved a significant milestone last week when the roof of the facility was success installed. The process took eight hours using 54 hydraulic machines. The new shop is scheduled for full operations by 2026.

RTX, parent company of aviation businesses Collins Aerospace, Pratt & Whitney and Raytheon, has booked a net profit increase of 20%, to US$1.7 billion in the three months to March 31 compared with the same three months in 2023. Revenue improved 12%, to US$19.3 billion, RTX said in a regulatory filing. “RTX saw strong momentum in the first quarter, delivering 12% organic sales growth and winning more than US$25 billion in new orders across our businesses,” RTX president and chief operating officer, Chris Calio, said.

Safran recorded an 18% revenue rise in the first quarter of the year, to 6.2 billion. In the same months last year revenue was 5.3 billion euro. “Safran had another strong start to the year, with double digit revenue growth in all businesses along with the civil aftermarket benefitting from continuing good dynamics in air traffic and an increasing contribution of CFM flight hour contracts,” Safran CEO, Olivier Andriès, said.