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☆ Airbus bullish on jet output as profits override space charge
▼ + stars: | 2023-11-09 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Airbus declined to elaborate on the charge, which came as the planemaker formally announced a restructuring in its Defence & Space division that has been in preparation for several months. Airbus CEO Guillaume Faury stuck to his guns, however. Airbus is producing A320-family jets in the low-50s per month instead of a planned level closer to 58, they said. On the loss-making A220, Airbus reiterated plans to raise output to 14 a month. "We are working very closely with them in the spirit of supporting them, but we also expect from Spirit to well support Airbus.

Persons: Steven Udvar, Guillaume Faury, Faury, Pratt, Safran, Whitney, Chris Calio, Spirit, Patrick Shanahan, Tim Hepher, Valerie Insinna, Allison Lampert, Matt Scuffham, Sharon Singleton, Matthew Lewis Organizations: Airbus, Defence, Space, Air Lease AL.N, Pratt & Whitney, CFM, GE Aerospace, GE, Boeing, Thomson Locations: Dubai, Paris, Washington, Montreal

☆ Air Lease doubts if Boeing, Airbus can meet annual delivery targets
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

Air Lease logo is seen displayed in this illustration taken, May 4, 2022. The ongoing jet shortage has benefited lessors such as Air Lease, with the company reporting a third-quarter profit per share of $1.10, beating analysts' estimates of $1.03, according to LSEG data. "On the Airbus side, the situation with engine suppliers in Pratt & Whitney is not enabling Airbus to meet their fourth-quarter targets," Air Lease's Udvar-Hazy said. Air Lease also said it had two of its aircraft on lease to a customer in Israel. "We continue to monitor this region very closely with all of our airline lessees," Air Lease CEO John Plueger said.

Persons: Dado Ruvic, Steven Udvar, Pratt & Whitney, Pratt, RTX, John Plueger, Mehr Bedi, Abhijith, Devika Organizations: REUTERS, Air Lease, Boeing, Airbus, Air, planemaker Boeing, Reuters, Pratt &, Whitney, Lease, Thomson Locations: Israel, Bengaluru

DUBLIN, Jan 18 (Reuters) - A battle for compensation is brewing over delays in the delivery of commercial jets, with a Dublin aviation summit descending into a blame game over the worst industrial disruption in years. Aircraft contracts contain dense descriptions of adverse factors which excuse manufacturers for multiple types of delay, meaning they can avoid paying penalties or "liquidated damages". Excusable delays include "acts of God", natural disasters, fire, flood, earthquakes and epidemics, among other examples, according to extracts of past contracts filed with regulators. Non-excusable delays include anything that falls outside this catalogue, but are rare, experts say. 'OVER-OPTIMISTIC'"They are not excusable at all," Aengus Kelly, chief executive of lease giant AerCap (AER.N) told the Airfinance Journal conference when asked about the delays.

☆ Boeing, Airbus hit back over criticism of delivery delays
▼ + stars: | 2023-01-17 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

[1/3] A woman walks past a Boeing logo at the China International Aviation and Aerospace Exhibition, or Airshow China, in Zhuhai, Guangdong province, China September 28, 2021. REUTERS/Aly SongDUBLIN, Jan 17 (Reuters) - The world's two largest planemakers defended themselves on Tuesday following criticism over delivery delays, with a Boeing (BA.N) executive saying increasing production after COVID-19 lockdowns was "not as easy as an on/off switch." Aircraft leasing firms have used a major industry conference to hammer manufacturers over delays. Air Lease (AL.N) executive chairman Steven Udvar-Hazy said they had "grossly misjudged" output, while one of Airbus' largest customers, AerCap (AER.N), called the European firm's production targets "very ambitious". To help remove the bottlenecks, Airbus has placed over 100 procurement specialists into its indirect suppliers to help them achieve the rates in the supply chain that the jetmaker requires to ramp up production, Pearman-Wright added.

☆ Lessor says Air India to order around 500 jets
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Jan 16 (Reuters) - Air India is set to order around 500 planes as an airline industry recovery takes hold following the pandemic, one of the world's leading aircraft lessors said on Monday. The comments are the first public indication of the scale of the planned order after Reuters reported in December that Air India was close to ordering as many as 500 jets as it carves out a renaissance under the Tata Group conglomerate. Air India did not immediately respond to a request for comment. China last year placed a block order for Airbus jets. "We do expect a number of airlines will place large orders and again most of these orders will be for replacement," Udvar-Hazy said.

☆ Sky-high rents hit the aircraft market as Boeing jets top $300,000 a month
▼ + stars: | 2022-08-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

The world's largest aircraft leasing firms, like Air Lease , Avolon and AerCap , which acquired GE 's airplane leasing business last year, are reaping the benefits. A tight supply of aircraft is driving up the price airlines pay to rent planes, just as travel demand returns. This year's surge in oil prices make newer, fuel-efficient planes more attractive than older ones, and higher interest rates could also drive up lease rates. "That will push lease rates higher through the rest of the year." Cronin said lease rates for Boeing Maxes and Airbus A320neos have risen by 10%-15% so far this year.

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