Company Watch - Boeing

AirGuide Business, June 30, 2008

6/30/2008

Abu Dhabi Aircraft Technologies will provide Silver Air of Djibouti with MRO service for its Boeing 737-200s under a total care agreement announced last week. 6/24/2008

ALAFCO reached a deal with Saudi Arabian Airlines for the sale and lease of 17 aircraft for delivery from 2009 through 2015, the Arab Air Carriers Org. reported. Agreement comprises the sale of eight Boeing 787-9s worth $1.6 billion, the 12-year lease of an additional four -9s and eight-year leases on five Airbus A320-200s. 6/25/2008

AWAS announced the lease of two Boeing 767-300ERs to TAM. Aircraft will operate in South America this summer before entering new service to Miami. 6/25/2008

Some analysts note that the potential reversal of the award of an US Air Force tanker contract is good news for Boeing, but they also warn that the slowing world economy could call into question the company's growth plans. Record fuel prices may prompt some of Boeing's airline customers to delay or cancel orders for jetliners. Shares of Boeing dropped to a two-year low after Goldman Sachs cut its rating of the company. 6/26/2008

Boeing moved a 787 designated for fatigue testing from the final assembly line in Everett, Wash., to another production bay at the facility to complete assembly and start fatigue test preparation. Another 787 already is undergoing structural testing. The move paves the way for the second flight-test airplane to advance to the next position in the production line. The first 787, which achieved full power-on last week, is to be moved from the production hall by July 1 to allow final assembly of the fourth flight-test aircraft to begin. 6/25/2008

Jetmakers Boeing and Airbus are taking steps to develop jetliners that operate on biofuels and leave a smaller carbon footprint. Airbus is targeting a 30% reduction in energy consumption by 2020. Boeing has a more aggressive time frame and hopes low blends of biofuels are certified before 2013. 6/24/2008

The Boeing 787 achieved full power-on two weeks ahead of schedule, the company said. Power-on brings electricity to an aircraft in stages. "The team has made great progress in bringing the bold innovation of the 787 to reality," said Pat Shanahan, vice president and manager of the 787 program. "There is plenty of work to be done between now and first flight, but with every step forward we grow more and more confident." 6/23/2008

House lawmakers last week voted to spend an additional $162 billion this year and next year on the wars in Iraq and Afghanistan. The bill, which still needs Senate approval, includes $3.6 billion for buying 15 Boeing C-17 cargo planes and $2.5 billion for 34 Lockheed Martin C-130J cargo planes. 6/24/2008

Boeing reached agreement with Caribbean Airlines to manage spare parts and components inventory under its Component Services Program. Contract guarantees replacements for failed parts within 24 hr. and is expected to reduce inventory, repair and administrative costs. 6/27/2008

CIT Aerospace delivered a former Ryanair Boeing 737-800 to Orenburg Airlines. CIT said it was the first -800 to be delivered to a Russian carrier. 6/23/2008

Condor Technik will launch line maintenance operations on Condor Airlines' Boeing 757s in November and on its nine 767-300s and 13 757-300s next spring. Staffing is expected to reach 170 by next year. 6/24/2008

Emirates Airlines is reporting a delay in the delivery of galley equipment on four new Boeing 777-200LRs as the reason for delaying inaugural flights from Los Angeles and San Francisco to Dubai. Originally scheduled to start September 1, the new Los Angeles launch date is October 1. San Francisco service will start November 20 instead of October 26. The airline will re-accommodate customers with bookings on earlier flights. 6/24/2008

Hawaiian Airlines has elected not to pursue the addition of another Boeing 767 wide-body aircraft to its fleet as had been contemplated under an April letter of intent. Hawaiian cites twin problems, a delay in the date the aircraft was to be in service and an uncertain economic environment. Complications arose in the process of conforming the aircraft to Hawaiian's operating certificate, which would have delayed its entry into service until the fourth quarter. The current owner of the aircraft was not revealed. Hawaiian still plans to acquire four additional 717-200s this fall. 6/27/2008

Japan Airlines, Boeing and Pratt & Whitney will team up to conduct a demonstration flight "to accelerate current research and development into the creation of a second-generation biofuel," JAL announced yesterday. A JT9D powered JAL 747-300 will fly for 1 hr. with one of its four engines partially powered by a yet-to-be-determined biofuel sometime toward the end of the fiscal year ending March 31, 2009. 6/24/2008

TUI Travel signed an agreement with AerCap Holdings and Deucalion Aviation Funds for the sale and leaseback of 19 owned aircraft within the TUI Travel fleet for $526 million. Aircraft will be acquired through a 50/50 joint venture between AerCap and Deucalion and will be managed by AerCap, which will receive servicing fees. TUI Travel will continue to operate the 11 Boeing 737-800s, six 757-200s and two 767-300ERs on 1-7-year operating leases with TUIfly, Thomsonfly, TUIfly Nordic and Jet4You. TUI will use the proceeds to reduce debt and said the deal had no impact on its discussions with Lufthansa regarding a potential merger of Germanwings and TUIfly. 6/24/2008