Aerospace

L3Harris Recognized as a Top ESG Leader in the Aerospace and Defense Industry

L3Harris Technologies | October 31, 2022 | Read time : 01:55 min

L3Harris Recognized as a Top ESG Leader in the Aerospace and Defense Industry
L3Harris Technologies announced today one of its key environmental, social and governance (ESG) ratings for 2022, which places it among the top five percent of aerospace and defense companies worldwide. The newest rating for L3Harris, determined by Sustainalytics, ranks its ESG efforts ahead of nearly all its industry peers and marks three consecutive years of improvement and progress toward achieving its 2026 sustainability goals. Sustainalytics, a leading independent ESG rating firm, bases its ratings on a comprehensive framework of more than 70 management indicators.

“Committed corporate governance provides the foundation and maintains the course for our ESG journey,The new additions to our board of directors over the past year bring expanded leadership and diversity crucial for our success and continued progress.”

 Christopher E. Kubasik, Chair and CEO, L3Harris.

In 2019, L3Harris committed to reduce greenhouse gas emissions by 30 percent, reduce water use by 20 percent and increase waste diversion by 75 percent by 2026. To date this year, L3Harris has met or exceeded its key environmental targets including reducing greenhouse gas emissions by 63,000 metric tons, reducing water use by 15 million gallons, increasing waste diversion by 783 tons and generating 195,000 megawatts of solar energy capacity through a virtual power purchase agreement. We are bound to the idea that creating sustainable value for all isn’t just important for our company, but for our world,” said Byron Green, Vice President of Global Operations, L3Harris. “Whether it’s investing in solar, providing social impact grants or hosting a virtual conference on diversity, equity and inclusion, our everyday actions demonstrate meaningful, tangible commitment. L3Harris began using Sustainalytics in 2020 as a marker for continuous ESG improvement. Its 2022 ESG risk rating score represents a 20 percent improvement from 2021 and nearly 40 percent improvement overall since 2020.

About L3Harris Technologies
L3Harris Technologies, an agile global aerospace and defense technology innovator, delivers end-to-end solutions meeting our customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries.

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Aviation Technology

Joby Subsidiary H2FLY Completes World’s First Piloted Flight of Liquid Hydrogen Powered Electric Aircraft

businesswire | September 14, 2023

H2FLY, a wholly-owned subsidiary of Joby Aviation, today announced the successful completion of the world’s first piloted flight of a liquid hydrogen-powered electric aircraft. H2FLY, acquired by Joby in 2021, continues to lead the industry on the development and testing of hydrogen aviation propulsion systems. The company completed a series of piloted flights with its HY4 demonstrator aircraft, including one that lasted more than three hours, fitted with a hydrogen-electric fuel cell propulsion system and liquid hydrogen that powered it for the entire flight. The flights demonstrate the viability of using cryogenically-stored liquid hydrogen instead of gaseous hydrogen, which enables significantly lower tank weights and volume, leading to longer range. The successful installation and demonstration of flight with liquid hydrogen is believed to increase the range of H2FLY’s HY4 demonstrator aircraft from 466 mi (750 km) to 932 mi (1500 km), marking a critical step towards the long-term decarbonization of mid- to long-range aviation. “H2FLY are pioneers in their field, and we’re proud of them achieving this watershed moment in the use of liquid hydrogen to power aircraft,” said JoeBen Bevirt, Founder and CEO of Joby Aviation. “In the years to come, battery-electric and hydrogen-electric propulsion systems will enable us to build aircraft that are quieter and make mid- to long-range air travel possible with zero emissions. It’s critical we take action now and invest aggressively in these technologies for the health of our planet and future generations to come.” The successful flights are the culmination of Project HEAVEN, a European-government-supported consortium assembled to demonstrate the feasibility of using liquid hydrogen in aircraft. The consortium is led by H2FLY and includes the partners Air Liquide, Pipistrel Vertical Solutions, the German Aerospace Center (DLR), EKPO Fuel Cell Technologies, and Fundación Ayesa. Following this test flight milestone, H2FLY will increasingly focus on its path to commercialization. In June, H2FLY announced the development of its new fuel cell systems, which will be capable of providing their full power range at altitudes high enough to enable commercial hydrogen-electric aircraft, demonstrating real-world commercial aircraft applications. About Joby Joby Aviation, Inc. is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world.

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Aviation Technology

Wheels Up Finalizes New Investment with Delta, Certares, Knighthead and Cox

Wheels Up | September 26, 2023

Wheels Up Experience (NYSE: UP) today announced that it has closed the previously announced investment by Delta Air Lines, Certares Management LLC, Knighthead Capital Management LLC and Cox Enterprises. The new investment structure combines the experience of Delta, the No. 1 premium airline, with the travel and tourism focus of Certares and turnaround and restructuring experience of Knighthead. It includes an agreement for a $500 million credit facility to Wheels Up, with funds contributed by Delta and CK Wheels LLC, which is co-managed by affiliates of Certares and Knighthead, and Cox. The announcement follows last week's selection of George Mattson as the company's new CEO. "This investment represents both an important source of capital for Wheels Up to support our strategy for financial stability, future profitability and long-term growth on behalf of our members and customers, as well as a vote of confidence in our path forward from a group of investors with deep experience in the premium travel space," Mattson said. "We look forward to working closely with Delta and our other investors to deliver best-in-class operating performance and an exceptional customer experience which, as we deepen our commercial partnership, will also enable us to provide a one-of-a-kind seamless connection between private and premium commercial travel." "Wheels Up is an integral part of Delta's portfolio of premium partners, and this deep relationship offers a significant opportunity to deliver compelling benefits to our customers that are unique in the travel space," said Dan Janki, Wheels Up Chairman and Delta's Chief Financial Officer. "This investment and new leadership puts Wheels Up on a strong path to future success." The credit facility is comprised of a $350 million term loan funded at closing from Delta, CK Wheels LLC and Cox and a $100 million revolving credit facility from Delta. The terms of the credit agreement permit a new lender to provide a $50 million term loan after the closing date, as approved by Delta, Certares, Knighthead and Cox, and it is anticipated this additional funding will close in the near term. In connection with the closing of the credit facility, the lenders will initially receive newly issued Wheels Up common stock representing 80% of the company's outstanding equity as of the closing of the credit facility, on a fully diluted basis. After approval by Wheels Up's stockholders of an amendment to its certificate of incorporation, the company will issue to the lenders additional new shares such that the lenders will own 95% of the company's outstanding equity as of the closing of the credit facility, on a fully diluted basis. Wheels Up also announced a new structure for its Board of Directors. Under the new structure, Delta Air Lines will appoint four directors, Certares and Knighthead each will appoint two directors, and Cox will appoint one director. In addition, one company executive will join the Board and two independent directors are expected to remain from the previous Board. The parties were assisted in the transaction by a number of strategic advisors, including: Davis Polk, Jefferies LLC, Kirkland & Ellis and PJT Partners. About Wheels Up Wheels Up is a leading provider of on-demand private aviation in the U.S. and one of the largest private aviation companies in the world. Wheels Up offers a complete global aviation solution with a large, modern, and diverse fleet, backed by an uncompromising commitment to safety and service. Customers can access membership programs, charter, aircraft management services and whole aircraft sales, as well as unique commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also offers freight, safety and security solutions and managed services to individuals, industry, government, and civil organizations. Wheels Up is guided by the mission to connect private flyers to aircraft, and one another, through an open platform that seamlessly enables life's most important experiences. Powered by a global private aviation marketplace connecting its base of approximately 12,000 members and customers to a network of approximately 1,500 safety-vetted and verified private aircraft, Wheels Up is widening the aperture of private travel for millions of consumers globally. With the Wheels Up mobile app and website, members and customers have the digital convenience to search, book and fly.

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Air Transport

Cirrus Aircraft Adds Auto Radar by Garmin® and Cirrus IQ™ Connectivity to the Best-Selling Vision Jet®

PRnewswire | July 20, 2023

Cirrus Aircraft today announced that Auto Radar powered by Garmin® and Cirrus IQ™ have been added as new advanced features on the world's best-selling personal jet, the Vision Jet. These upgrades now provide pilots with increased situational awareness and connectivity during all stages of pre-flight and inflight activities. "Cirrus Aircraft incorporates intelligent and award-winning innovations into its ecosystem to make flying simpler, safer and more approachable for the pilot and passengers," said Zean Nielsen, Chief Executive Officer of Cirrus Aircraft. "The award-winning Vision Jet is a testament to our team's ongoing dedication to advancing the personal aviation industry. Over the years, the Cirrus Airframe Parachute System® (CAPS®) and Safe Return™ Autoland have revolutionized the Personal Aviation industry. Now with Auto Radar and Cirrus IQ connectivity, pilots have more situational awareness inflight and can streamline the preflight process." Auto Radar allows the pilot to select the desired radar range which then automatically scans the area ahead and displays a composite, real-time depiction of the weather. By automatically selecting an optimal horizontal scan pattern and vertical tilt combination, the Auto Radar system works to create an in-depth view of the weather ahead. It volumetrically profiles areas of precipitation to provide the pilot with a real-time composite view of radar returns. The imagery is clear with a 16-color palette and improved automatic ground-clutter suppression. Cirrus IQ is now available in the Vision Jet with the addition of LTE-enabled hardware. With the Cirrus IQ mobile app, pilots can proactively check key aircraft readiness items, updated after each flight from virtually anywhere in the world. These key items currently include the last known status of fuel and oxygen levels, aircraft location, flight hours, engine cycles and more. Cirrus IQ makes aircraft ownership increasingly streamlined with features like Maintenance Minder and Technical Publications for owners to keep track of their aircraft maintenance intervals and stay up to date with any applicable technical publications for their aircraft. The My Trips and Achievements features automatically log each flight completed along with flight achievements. The Find Us feature allows owners to quickly locate Cirrus Aircraft Campuses, Cirrus Authorized Service Centers and Training Partners nearby directly within the app. The LTE-enabled hardware that powers Cirrus IQ is standard on newly manufactured G2+ Vision Jets and Auto Radar is available as part of the Enhanced Awareness Package. The Cirrus IQ mobile app is available to owners with an active JetStream contract. Auto Radar and Cirrus IQ retrofits will be available for G2 and G2+ Vision Jet owners in the future through Cirrus Upgrades and Accessories. For more information, please contact. About Cirrus Aircraft Cirrus Aircraft is the recognized global leader in personal aviation and the maker of the best-selling SR Series piston aircraft and the Vision Jet®, the world's first single-engine Personal Jet™, and the recipient of the Robert J. Collier Trophy. Founded in 1984, the company has redefined aviation performance, comfort and safety with innovations like the Cirrus Airframe Parachute System® (CAPS®) – the first FAA-certified whole-airframe parachute safety system included as standard equipment on an aircraft. To date, worldwide flight time on Cirrus aircraft has passed 15 million hours, and 250 people have returned home safely to their families as a result of the inclusion of CAPS as a standard feature on all Cirrus aircraft. The company has seven locations in the United States, including Duluth, Minnesota; Grand Forks, North Dakota; Greater Dallas, Texas; Greater Phoenix, Arizona; and Greater Orlando, Florida; Knoxville, Tennessee and Benton Harbor, Michigan.

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Air Transport

VSE Aviation Partners with AvAir for Asset Management

PRnewswire | August 18, 2023

AvAir, an industry-leading inventory solutions provider for the aviation aftermarket has been selected by VSE Aviation to manage a large component exchange pool composed of Airbus and Boeing fleet parts. All materials will be certified by VSE Aviation's network of MROs and available for sale or exchange to AvAir's worldwide customer base. AvAir has more than 26 million in-stock parts available and works with its customers and suppliers to buy, sell, exchange, loan, lease or consign. This partnership enhances AvAir's strategic exchange pool to further meet customer demand. VSE Aviation is a leading provider of aftermarket distribution and maintenance, repair and overhaul (MRO) services for components and engine accessories. Headquartered in South Florida, VSE Aviation provides parts and services for global commercial, business and general aviation, cargo, military, defense, and rotorcraft customers. "I'm proud that our teams were able to come together to create this agreement," said Steven Solly, Vice President of Sales at AvAir. "This collaboration between two of aviation's fastest-growing companies will bolster one of the largest global rotable exchange pools for the Boeing and Airbus fleets and we look forward to serving our customers in those markets." With this transaction, AvAir will add thousands of rotables, over various ATA chapters, where supply chain issues continue to be an issue for airlines across the globe. The entire stock will be added to AvAir's growing Dublin and Chandler facilities to support customers worldwide. "As we continue to expand our MRO offerings, partnering with AvAir and utilizing their exchange programs helps VSE Aviation reach a broader customer base across international markets," said Ben Thomas, President of VSE Aviation. AvAir is ISO 9001, AS9120 and ASA 100 certified, and adheres to the highest quality standards in all phases: purchasing, receiving, stocking, sales and shipping. About AvAir Founded in 2000, Arizona-based AvAir is a global leader in the aviation aftermarket, providing customized inventory solutions for airlines, OEMs, and MROs. AvAir has been named Parts Supplier of the Year for 2021, 2022, and 2023 by Airline Economics, the leading industry trade publication. It has also been recognized for its work in sustainability by The Aviation 100, AvAir received the Environmental Sustainability award. About VSE Aviation VSE is a leading provider of aftermarket distribution and repair services for air, land and sea transportation assets for government and commercial markets. Core services include MRO services, parts distribution, supply chain management and logistics, engineering support, and consulting and training services for global commercial, federal, military and defense customers. VSE also provides information technology and energy consulting services.

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El Al Israel Airlines is closing on a new narrowbody deal with Airbus for their A321neo. However, they still have proposals from Boeing for the 737 MAX. Which way will the company eventually go, and can Airbus organise a contract before Boeing offers a more attractive deal?

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