United Airlines Warns Cutting More Pilots As Result of Low Travel Demand

United Airlines | July 30, 2020

United Airlines on Thursday warned it may need to furlough more pilots than previously expected as a significant rebound in travel demand remains distant. The terms of a federal bailout that provided $25 billion to passenger airlines and $7 billion to cargo airlines and contractors prohibits them from cutting jobs or pay rates until Oct. 1. But carriers are now warning their workers about potential cuts this fall, urging them to take voluntary time off or buyout agreements to slash costs.

Spotlight

In the last decade, India initiated a modernisation and acquisition programme for its defence forces. To utilise the huge acquisition budget and to build a domestic industrial base, the government made radical policy changes, allowing private and domestic investment in the defence sector and moving from depending upon a single country for the supply of equipment to global bidding.


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COMMERCIAL AVIATION

Jet Edge Adds Challenger to Its Coast-to-Coast Program, Launches Transcon Program as Part of Overall Membership Program Expansion

Jet Edge | December 18, 2021

Jet Edge is closing the year with an expansion of its successful coast-to-coast Gulfstream program to include its Challenger fleet (300/350/605/650 series). Jet Edge celebrated its 25th of 35 new deliveries last week with another 10 slated thru May 2022. By June 1st of 2022, both the Challenger 300/350/605/650 and Gulfstream 4SP/450 aircraft will be fully outfitted with brand new state-of-the-art interiors, avionics, branded livery, and in-cabin features. Jet Edge Reserve members will now be able to fly coast-to-coast on a Challenger starting at $39,900. In addition, Jet Edge is announcing a new transcontinental program to include non-coastal hubs like Las Vegas, Salt Lake City, Bozeman, Aspen, Nashville and Scottsdale among others for flights of four hours or more, also starting at $39,900. “Our Reserve Member base has continually asked us to extend our coast-to-coast offering to our Challenger aircraft as well as develop a larger transcontinental footprint and we are delivering an enhanced program for CL300/350/605/650 flyers that complements our industry leading Gulfstream program,” - Jet Edge Chief Commercial Officer, Jonah Adler. The company is also closing 2021 with a 7.5% fly FET free bonus credit for Jet Edge Reserve Black members who join by December 31st. The Reserve program is fully refundable with no expiration, a distinct offering within the private aviation industry. “As the only membership charter company domestically to have taken delivery of 25+ state of the art super-mid and large cabin aircraft this year, closing the year with an opportunity for Reserve Black members to fly on the charter industry’s most advanced fleet FET-Free, for as long as they’d like, is an exciting way to finish the year,” - Jet Edge Chief Business Officer Steve Malvesta. About Jet Edge Jet Edge is the largest operator of super-midsize and large cabin private jets in private aviation. The Jet Edge fleet features the highest in third party aviation safety certification, immaculate interiors, finest cabin amenities, and the fastest high-speed Wi-Fi in the sky. With Jet Edge Reserve, members enjoy exclusive benefits and dynamic pricing with the most client-friendly terms and conditions in the industry. Reserve membership is fully refundable with no annual fees and no expiration. All Jet Edge flights are backed by a fleet that delivers the highest level of safety and cleanliness standards in private aviation.

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AEROSPACE

HONEYWELL SELECTED BY LOCKHEED MARTIN SIKORSKY-BOEING TO POWER DEFIANT X HELICOPTER IN KEY U.S. ARMY PURSUIT

Honeywell | February 15, 2022

Honeywell has been selected to provide its new HTS7500 turboshaft engine as the power behind the Lockheed Martin Sikorsky-Boeing DEFIANT X® helicopter, currently a contender to win the U.S. Army's Future Long-Range Assault Aircraft (FLRAA) competition. The HTS7500 turboshaft engine is the newest and most technologically advanced model in Honeywell's family of military engines, which includes the iconic T55 engine that has powered the H-47 fleet for over 60 years. Like the T55, the HTS7500 is a highly reliable engine designed to thrive in austere environments and to perform to keep military personnel safer. The HTS7500 enhances mission readiness and exceeds mission power and fuel consumption requirements. The new engine comes equipped with a modernized control system, which enables a highly secure flow of engine data. The control system improves operating capabilities, reduces life-cycle costs, and ensures engine health status through its digital thread road map. "This engine builds upon the battle-proven architecture of the T55, but the HTS7500 takes engine performance, reliability and efficiency to a whole new level, The engine is structurally similar, which is great for maintainers in the field because they can use current tools and training. However, when it comes to performance, the HTS7500 is 42% more powerful than the T55-GA-714A and has the lowest total weight compared to other engines in its horsepower class." -Dave Marinick, president, Engines and Power Systems, Honeywell Aerospace. "We're committed to the U.S. Army's focus on modernization and multidomain operations, and the selection of Honeywell's latest engine technology for the DEFIANT X® is proof of that commitment, The HTS7500 checks all the right boxes for the Lockheed Martin Sikorsky-Boeing team and the Army, and we are excited to play a part in the future of vertical lift for our Army customer and Team DEFIANT." -Ricky Freeman, president, Defense and Space, Honeywell Aerospace. The DEFIANT X® will be the fastest, most maneuverable assault helicopter in history. It can fly two times faster and farther than the Black Hawk and is currently being tested in a digital combat environment, where it continues to prove its unmatched range and survivability. FLRAA was initiated by the U.S. Army in 2019 to develop a new utility helicopter that will replace the Sikorsky UH-60 Black Hawk starting in 2030. The Black Hawk was developed in the 1960s and 1970s and was selected by the U.S. Army in 1976. FLRAA will provide the next generation of capability for decades to come for the U.S. Army, and the HTS7500 has been built to provide world-class reliability and time on wing for this next generation of aircraft. Engines designed by Honeywell have been at the forefront of aircraft propulsion for nearly seven decades, shaping aviation's progress in civilian and military applications around the world. Honeywell's high-performance, high-power engines combine rigorous testing with rugged design, ensuring smoother operation in the harshest environments. Continuous improvement programs have resulted in engines that today provide more power with lower fuel consumption, enhanced safety and proven reliability. About Honeywell Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft. The Aerospace business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components and more. Its hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.

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AVIATION TECHNOLOGY

SOUTHWEST AIRLINES AND TRANSPORT WORKERS UNION LOCAL 550 REACH TENTATIVE AGREEMENT ON TERMS OF NEW CONTRACT FOR DISPATCHERS

SOUTHWEST AIRLINES CO. | February 09, 2022

Southwest Airlines Co. (NYSE: LUV) and the Transport Workers Union Local 550 (TWU 550) have reached a Tentative Agreement for the more than 400 Southwest Airlines Dispatch Employees. "This agreement rewards our skilled Dispatchers, while providing Southwest additional efficiencies, I'd like to thank both negotiating teams for their diligent work, which led to this agreement." -Vice President Labor Relations Adam Carlisle. "It has been a long three years of negotiating with COVID-19 bringing a whole new set of challenges to the essential workers of TWU 550 and Southwest Airlines, I would like to thank the TWU 550 and Southwest Airlines negotiating teams for all of their hard work and flexibility required to get to this new agreement and recognize the enormous value that our Dispatchers provide for the success of this airline." -TWU 550 President Larry Merchant. This Tentative Agreement covers all Southwest Airlines Flight Dispatchers, Assistant Dispatchers, Flight Superintendents, Dispatch Specialists, and Dispatch ATC Specialists. The TWU 550 will share details directly with their members about the agreement and the voting process. ABOUT SOUTHWEST AIRLINES CO. Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 121 airports across 11 countries. Celebrating its 50th Anniversary in 2021, Southwest took flight in 1971 to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline1. Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its more than 55,0002 People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among as many as 130 million Customers carried a year. That formula for success brought industry-leading prosperity and 47 consecutive years3 of profitability for Southwest Shareholders (NYSE: LUV). Southwest continues to develop tangible steps toward an environmental sustainability goal of achieving carbon neutrality by 2050, including offering an opportunity for Customers to contribute toward helping Southwest offset its carbon emissions.

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AVIATION TECHNOLOGY

Aviation Capital Group Announces Delivery of One Boeing 737-8 MAX to Icelandair

Aviation Capital Group | March 17, 2022

Aviation Capital Group LLC (“ACG”) announced the delivery of one new Boeing 737-8 MAX aircraft on long-term lease to Icelandair. This Boeing 737 MAX aircraft, powered by CFM International’s LEAP-1B engines, is part of a multi-aircraft transaction between ACG and the airline. “With this delivery, we are delighted to complete the purchase and leaseback of two Boeing 737-8 MAX aircraft and the long-term financing through ACG’s Aircraft Financing Solutions program of one Boeing 737-9 MAX aircraft with Icelandair,” said Robert Lewandowski, Managing Director of ACG. “We look forward to continuing our close and long-standing relationship with the Icelandair Group and working with them on their future financing needs,” added Roger Carley, Vice President of Marketing for ACG. “Icelandair is delighted to team up with ACG, a long-lasting business partner, on this transaction. The renewal of our fleet with new eco-efficient airplanes like the Boeing 737 MAX is an important step towards reaching our ambitious goals of reducing the company’s carbon emissions by 50% by 2030.” Bogi Nils Bogason, CEO of Icelandair About Aviation Capital Group Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with over 440 owned, managed and committed aircraft as of December 31, 2021, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.

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Spotlight

In the last decade, India initiated a modernisation and acquisition programme for its defence forces. To utilise the huge acquisition budget and to build a domestic industrial base, the government made radical policy changes, allowing private and domestic investment in the defence sector and moving from depending upon a single country for the supply of equipment to global bidding.

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