Boeing 787 Dreamliner
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Aviation Investment Banking Q4 2020 & Year-End Update
Aviation Investment Banking Q4 2020 & Year-End Update OUR TEAM Aviation Investment Banking James S. Cassel Scott E. Salpeter Joseph “Joey” Smith Chairman President Director, Aviation [email protected] [email protected] Services 305-438-7701 305-438-7702 [email protected] 305-438-7706 Relevant Experience: Relevant Experience: Relevant Experience: ▪ Investment banking for over 24 years ▪ Investment banking for over 24 years ▪ Investment banking for over 20 years Representative Assignments: Representative Assignments: Representative Assignments: Bankruptcy Airlines Valuation MRO Capital Raise Aviation Services §363 Sale Bankruptcy Airlines Valuation MRO Capital Raise MRO §363 Sale M&A Sale MRO Solvency Opinion Freight & Logistics Capital Raise Distribution Valuation MRO Philip Cassel Ira Leiderman Deborah Aghib Margery Fischbein Managing Director Managing Director Managing Director Managing Director Marcus Wai Chris Mansueto Laura Salpeter Julian Astrove Edward Kropf Tahz Rashid Vice President Vice President Vice President Associate Associate Analyst Includes projects by our professionals at prior firms. 1 Aviation Investment Banking I AEROSPACE & DEFENSE REVIEW II M&A & PRIVATE PLACEMENTS REVIEW III PUBLIC MARKETS REVIEW 2 FLY AWAY & GOOD RIDDANCE 2020 Aviation Investment Banking The aviation industry faced extraordinary challenges in 2020. As COVID- For this 4th Quarter and Year-End, we believe that the trends continue to 19 spread, the travel industry was among the hardest-hit as governments be worrisome, despite the positive Thanksgiving and Christmas/New Year closed borders and businesses went virtual. With 2020 in the rear-view holiday travel bumps. Although 2021 will offer a vast improvement, with mirror, we want to revisit our 2020 updates and theses along with some the aggressive rollout of the various COVID vaccines, we continue to of the aviation industry’s most notable events of the year: believe that the full recovery of the aviation ecosystem will be pushed out to 2022-2023. -
The Boeing Company 2012 Annual Report at Boeing, We Aspire to Be the Strongest, Best and Best-Integrated Aerospace- Based Company in the World— for Today and Tomorrow
The Boeing Company 2012 Annual Report At Boeing, we aspire to be the strongest, best and best-integrated aerospace- based company in the world— for today and tomorrow. The Boeing Company Contents Boeing is the world’s largest aerospace Operational Summary 1 company and leading manufacturer Message From Our Chairman 2 of commercial airplanes and defense, space and security systems. The top The Executive Council 7 U.S. exporter, Boeing supports airlines and U.S. and allied government cus- Financial Results 8 tomers in more than 150 countries. Our Form 10-K 9 products and tailored services include commercial and military aircraft, satel- Selected Programs, lites, weapons, electronic and defense Products and Services 122 systems, launch systems, advanced Shareholder Information 129 information and communication sys- Cover photo: The liquid tems, and performance-based logistics Board of Directors 130 hydrogen–powered high- and training. With corporate offices in Company Officers 130 altitude long-endurance Chicago, Boeing employs more than Phantom Eye unmanned 174,000 people across the United aircraft system States and in 70 countries. In addition, Photo above: The new our enterprise leverages the talents of 737 MAX—designed for hundreds of thousands of skilled people maximum efficiency, reliabil- working for Boeing suppliers worldwide. ity and customer appeal Financial Highlights U.S. dollars in millions except per share data 2012 2011 2010 2009 2008 Revenues 81,698 68,735 64,306 68,281 60,909 Net earnings 3,900 4,018 3,307 1,312 2,672 Earnings per share* 5.11 5.33 4.46 1.87 3.65 Operating margins 7.7% 8.5% 7.7% 3.1% 6.5% Operating cash flow 7,508 4,023 2,952 5,603 (401) Contractual backlog 372,355 339,657 303,955 296,500 323,860 Total backlog† 390,228 355,432 320,826 315,558 351,926 * Represents diluted earnings per share from continuing operations. -
ANNOUNCEMENT of SPIRIT WINNING the CONTRACT for AIRBUS SPOILER PROJECT for and GIVING WIDER ECONOMY SPEECH Page | 1 BRIEFING FO
ANNOUNCEMENT OF SPIRIT WINNING THE CONTRACT FOR AIRBUS SPOILER PROJECT FOR AND GIVING WIDER ECONOMY SPEECH BRIEFING FOR THE FIRST MINISTER ANNOUNCEMENT OF THE A320 SPOILER PROJECT FOR SPIRIT AEROSYSTEMS AND GIVING WIDER ECONOMY SPEECH 31 August 2017 Key Delighted that Spirit Aerospace have won this important contract, messages boosting the Ayrshire economy and bringing in a great achievement for Scotland’s aerospace sector. Pleased that this important contract will create over 100 jobs mostly high-value as the project grows. Significant first step for Spirit into composite manufacturing which will establish a world class manufacturing platform, involving state of the art automation and robotics. Reflects positively on the strengths and diversity of our manufacturing base and the huge opportunities that aerospace presents. New innovative manufacturing processes for composite materials create exciting new supply chain opportunities. Funding of £2.1m for R&D and Training support to Spirit from Scottish Enterprise demonstrates how support can help to accelerate R&D to drive up levels of innovation in Scotland. What You will be announcing the contract awarded to Spirit by Airbus for the design of the new composite spoiler component and the manufacturing work package for the A320 aircraft. You will be giving a speech on ‘Scotland's economy - turning challenges into opportunities’. Why To announce that Spirit AeroSystems has secured a contract with Airbus. To give a wider economy speech in the run up to Programme for Government. Who -
Boeing 787 Dreamliner Video System Advanced, Integrated Security and Surveillance Solutions for Modern Airplanes Photo Courtesy Boeing
Boeing 787 Dreamliner Video System Advanced, integrated security and surveillance solutions for modern airplanes Photo courtesy Boeing ™ Cabin Video Monitoring UTC Aerospace Systems provides one of the most advanced airplane security and surveillance systems in commercial transport. The Cabin Video Monitoring System (CVMS) provides video and audio surveillance capability through the deployment of up to 16 covertly mounted digital cameras that also contain an integrated microphone. The cabin video can be viewed real-time and/or recorded. Flight Deck Entry Video Surveillance System cameras can also be integrated into the CVMS to provide the flight crew with comprehensive, situational awareness of all on-airplane systems. Equipment CVMS Benefits & Features • Up to 12 8410P1 Series Internet Protocol (IP) cameras provide • Enables real-time audio and video cabin monitoring color or monochromatic images and digital audio and video • IP cameras allow transition from analog to all-digital system, customizable to meet installation requirements • 8930A1 series Digital Video Recorder (DVR) • System accessed by Class 3 EFB system or via Ground Access • 256GB removable solid state memory Panel • Digital Video Recorder (DVR) capability CVMS P/N Table • Flight deck notified of CVMS activation via Engine Indicating and Crew-Alerting System (EICAS) “Cabin Alert” message IP Camera 8410P1 series Digital Video Recorder (DVR) 8930A1 series Digital Video Recorder Storage Memory 8732C1 series Security Camera Interface Unit (SCIU) 8730B2 series CVMS Client Application 8410P1 Series Camera Specifications Video Signal Dual Stream MPEG-4 (H.264) and MJPEG over Ethernet (RTP/RTSP) Video Format Color or Monochromatic Resolution 640 x 480 pixels Field of View 50º horizontal / 37.5º vertical Frame Rate 1 - 30 FPS configurable Power Consumption 2.5W max. -
15665 Onex Q1
Management’s Discussion and Analysis and Financial Statements First Quarter Ended March 31, 2007 ONEX CORPORATION Onex makes private equity investments through the Onex Partners and ONCAP family of Funds. Through these Funds, which have third-party capital as well as Onex’ capital, Onex generates annual management fee income from third-party capital and is currently entitled to a carried interest on more than $3.8 billion of that capital. It also has a Real Estate Fund and a Public Markets Fund. Onex’ operating companies have annual revenues of approximately $28 billion, assets of $28 billion and 184,000 employees worldwide. These companies are in a variety of industries, including electronics manufacturing services, aerostructures manufacturing, healthcare, financial services, metal services, aircraft & aftermarket service, customer support services, theatre exhibition, personal care products and communications infrastructure. Onex works in partnership with the management teams of our operating companies to build the value of these businesses. Onex is listed on the Toronto Stock Exchange under the symbol OCX. Table of Contents 3 Management’s Discussion and Analysis 20 Consolidated Financial Statements 36 Shareholder Information Throughout this report, all amounts are in Canadian dollars unless otherwise indicated. 2007 FIRST-QUARTER HIGHLIGHTS Onex’ share price was up 13 percent to $32.06 per share in the first quarter of 2007. Onex and its operating companies completed three significant acquisitions in the quarter: • The $3.8 billion purchase of Hawker Beechcraft, a leading manufacturer of business jet, turboprop and piston aircraft, was completed in March; • Tube City IMS, a leading provider of outsourced services to steel mills, was acquired in a $730 million transaction in January; and • ClientLogic acquired SITEL Corporation (now operating as Sitel Worldwide Corporation) in January and tripled the size of its business. -
ANNUAL REPORT Spiritaero.Com SPIRIT AEROSYSTEMS ANNUAL REPORT and 1O-K
ANNUAL REPORT spiritaero.com SPIRIT AEROSYSTEMS ANNUAL REPORT AND 1O-K 2020 Spirit AeroSystems 2 LETTER TO STOCKHOLDERS 2020 was a transformational year for Spirit supply to our customers, including critical national AeroSystems as we dealt with unparalleled challenges security programs. To address the health and safety to our business, and to the aviation industry as a concerns for our workforce, Spirit put in place whole, with dual crises resulting from the grounding protocols across our global operations to help of the 737 MAX and the sudden drop in air travel due protect our team. These measures included requiring to the global pandemic. In short, it was a year unlike the use of masks; installation of thermal scanners; any other in the Company’s history. As we navigated testing; air purification; and procedures for the dual crises impacting Spirit, we focused on driving symptomatic employees or those who tested action in five key areas – protecting our team; positive. These measures allowed us to continue adjusting costs to lower production levels; operating and meeting our commitments, while strengthening our liquidity; enhancing the taking steps to keep our employees safe. productivity and efficiency of our operations; and diversifying our business. I am proud to share with Adjusting Costs to Lower Levels of Production you what the Spirit team accomplished. 2020 began with production on the MAX program suspended by our customer. Ultimately, after several Protecting Our Team rate changes, we would build just 71 MAX ship sets – As a manufacturing company, the spread of an 88 percent reduction compared to 2019 COVID-19 presented a significant challenge for the deliveries. -
Transatlantic Airline Fuel Efficiency Ranking, 2017
WHITE PAPER SEPTEMBER 2018 TRANSATLANTIC AIRLINE FUEL EFFICIENCY RANKING, 2017 Brandon Graver, Ph.D., and Daniel Rutherford, Ph.D. www.theicct.org [email protected] BEIJING | BERLIN | BRUSSELS | SAN FRANCISCO | WASHINGTON ACKNOWLEDGMENTS The authors thank Tim Johnson, Andrew Murphy, Anastasia Kharina, and Amy Smorodin for their review and support. We also acknowledge Airline Data Inc. for providing processed BTS data, and FlightGlobal for Ascend Fleet data. International Council on Clean Transportation 1225 I Street NW Suite 900 Washington, DC 20005 USA [email protected] | www.theicct.org | @TheICCT © 2018 International Council on Clean Transportation TRANSATLANTIC AIRLINE FUEL EFFICIENCY RANKING, 2017 TABLE OF CONTENTS EXECUTIVE SUMMARY ............................................................................................................ iii 1. INTRODUCTION .................................................................................................................... 2 2. METHODOLOGY ................................................................................................................... 3 2.1 Airline selection .................................................................................................................................3 2.2 Fuel burn modeling..........................................................................................................................5 2.3 Fuel efficiency calculation ............................................................................................................6 -
Download This Issue (PDF)
03 Jeppesen Expands Products and Markets 05 Preparing Ramp Operations for the 787-8 15 Fuel Filter Contamination 21 Preventing Engine Ingestion Injuries QTR_03 08 A QUARTERLY PUBLICATION BOEING.COM/COMMERCIAL/ AEROMAGAZINE Cover photo: Next-Generation 737 wing spar. contents 03 Jeppesen Expands Products and Markets Boeing subsidiary Jeppesen is transforming its support to customers with a broad array of technology-driven solutions that go beyond the paper navigational charts for which Jeppesen 03 is so well known. 05 Preparing Ramp Operations for the 787-8 Airlines can ensure a smooth transition to the Boeing 787 Dreamliner by understanding what it has in common with existing airplanes in their fleets, as well as what is unique. 15 Fuel Filter Contamination 05 Dirty fuel is the main cause of engine fuel filter contamination. Although it’s a difficult problem to isolate, airlines can take steps to deal with it. 21 Preventing Engine Ingestion Injuries 15 Observing proper safety precautions, such as good communication and awareness of the hazard areas in the vicinity of an operating jet engine, can prevent serious injury or death. 21 01 WWW.BOEING.COM/COMMERCIAL/AEROMAGAZINE Issue 31_Quarter 03 | 2008 Publisher Design Cover photography Shannon Frew Methodologie Jeff Corwin Editorial director Writer Printer Jill Langer Jeff Fraga ColorGraphics Editor-in-chief Distribution manager Web site design Jim Lombardo Nanci Moultrie Methodologie Editorial Board Gary Bartz, Frank Billand, Richard Breuhaus, Darrell Hokuf, Al John, Doug Lane, Jill Langer, -
Nikkiso Awarded Contract from Spirit Aerosystems, Inc. to Produce Wing Components for Boeing 787
20-3, Ebisu 4-Chome, Shibuya-ku, Tokyo 150-6022, Japan TEL +81-3-3443-3717 FAX +81-3-3443-3263 URL:http://www.nikkiso.com October 1, 2014 Nikkiso Awarded Contract from Spirit AeroSystems, Inc. to produce wing components for Boeing 787 Nikkiso Aerospace Division was awarded from Spirit AeroSystems, Inc., to produce composite panels for the Fixed Leading Edge (FLE) on the Boeing 787 program. The FLE, or J-Panels for the Boeing 787 have previously been manufactured at Spirit’s facility in Tulsa, Oklahoma, and the agreement with Nikkiso will transfer the work to Nikkiso Vietnam, Inc. (NVI, a 100% subsidiary of Nikkiso Co., Ltd.) located in Hanoi, Vietnam. Transferring the composite panel work is part of Spirit’s on-going effort to examine all aspects of the company’s business to maximize the company’s core strength of manufacturing large aerostructures. First delivery from NVI is expected to take place by the end of 2014. The J-Panels will be delivered to Spirit Malaysia for assembly, and then to MHI in Nagoya Japan for final assembly, before being delivered to Boeing Everett or Boeing South Carolina. With the production of J-Panels being transferred to NVI, the supply chain of the 787 wing part will be completed within the Asian region before being delivered to Boeing, which improves the logistic cost and lead times. NVI has been delivering Boeing 777 Blocker Doors from year 2011 and Boeing 737 Bull Nose from year 2012, to Spirit Wichita. The prime factors of this J-Panel award is the Quality, On-time Delivery and good response performed through these current programs. -
787 Interior
Backgrounder Boeing Commercial Airplanes P.O. Box 3707 MC 03-XW Seattle, Washington 98124-2207 www.boeing.com Boeing 787 Dreamliner Offers Enhanced Experience for Passengers By combining its unique understanding of how the human body reacts to flight conditions and how emerging technologies can improve those conditions, Boeing has created a better flying experience with its 787 Dreamliner. Along with universities from around the world, Boeing embarked on several studies to understand how altitude, humidity, air contaminants, lighting, sound and space affect passengers. In addition, Boeing studied how these factors play together to develop combinations that create the best overall experience. These findings led to significant improvements on the 787. Ride Quality: Providing a Smoother Flight Passengers give higher ratings to flights that do not encounter turbulence. Sensors on the 787 are designed to counter the effects of turbulence by causing certain control surfaces to change slightly. This innovative system helps maintain a smoother ride throughout the flight, reducing nausea for those subject to motion sickness. Altitude: How High Is Just Right? Most airplanes are pressurized to a typical cabin altitude of 6,500 to 7,000 feet (1,981 – 2,133 m), with a maximum certification altitude of 8,000 feet (2,438 m). Because the advanced composite materials that make up the 787’s fuselage do not fatigue, the 787 can be pressurized more, which allows for lower cabin altitude levels. Studies at Oklahoma State University explored the effect of altitude on passengers to determine optimum levels. After testing at various altitudes, it became clear that lowering the cabin altitude to 6,000 feet (1,830 m) provided meaningful improvements. -
Innovative Collaboration Project with Spirit
INNOVATIVE COLLABORATION PROJECT WITH SPIRIT AEROSYSTEMS Media Release: 30th July, 2020 As part of Quickstep’s core research and development program, we are delighted to announce a new collaborative project with Spirit Aerosystems (Spirit), one of the world’s largest commercial aerospace suppliers. This exciting new project will develop the use of Quickstep’s proprietary manufacturing process technology, AeroQure, to produce an aircraft structural component. The parties will work to validate AeroQure as a commercial aerospace production solution, capable of meeting aerospace quality and performance requirements, as well as reduced product cost and high production rates. Quickstep has already obtained positive aerospace results with panels robotically laid-up and cured using AeroQure. The Qure manufacturing process has demonstrated reduced cycle times, substantially increased automation and step-change cost performance in non-aerospace applications. The next step will include preforming automatically laid-up laminates to a final geometry representative of an aerospace production part provided by Spirit. These prototype parts will be tested, both in Australia by Quickstep and the US by Spirit, to confirm they meet aerospace mechanical requirements. Referring to this announcement, CEO Mark Burgess said, “In partnership with the Advanced Manufacturing Growth Centre and several global industrial partners over the next 12 months this project will generate the foundation of a fully integrated industrial solution, paving the way towards future production contracts. It is an extremely exciting development and validation of our ongoing investment in composites research and development.” This release has been approved by the Board and is consistent with the outlook provided in the July Quarterly Report. -
Spirit Aerosystems Reports Fourth Quarter and Full-Year 2020 Results
Spirit AeroSystems Holdings, Inc. 3801 S. Oliver Wichita, KS 67210 www.spiritaero.com Spirit AeroSystems Reports Fourth Quarter and Full-Year 2020 Results • Completed acquisition of select assets of Bombardier to diversify Spirit’s business • Raised $2.1 billion of senior secured debt and terminated 2018 credit facility during the year; Paid off $1.2 billion in debt during the year; Ended year with cash balance of $1.9 billion • Reduced commercial aviation employees by 8,000 and cut annualized costs of $1 billion to align to lower rates of production Wichita, Kan., February 23, 2021 - Spirit AeroSystems Holdings, Inc. [NYSE: SPR] (“Spirit” or the “Company”) reported fourth quarter and full-year 2020 financial results. Table 1. Summary Financial Results (unaudited) 4th Quarter Twelve Months ($ in millions, except per share data) 2020 2019 Change 2020 2019 Change Revenues $877 $1,959 (55%) $3,405 $7,863 (57%) Operating (Loss) Income ($101) $96 ** ($813) $761 ** Operating (Loss) Income as a % of Revenues (11.6%) 4.9% ** (23.9%) 9.7% ** Net (Loss) Income ($296) $68 ** ($870) $530 ** Net (Loss) Income as a % of Revenues (33.8%) 3.5% ** (25.6%) 6.7% ** (Loss) Earnings Per Share (Fully Diluted) ($2.85) $0.65 ** ($8.38) $5.06 ** Adjusted (Loss) Earnings Per Share (Fully Diluted)* ($1.31) $0.79 ** ($5.72) $5.54 ** Fully Diluted Weighted Avg Share Count 104.0 104.6 103.9 104.7 ** Represents an amount equal to or in excess of 100% or not meaningful. “2020 was one of the most challenging years in aviation history. For Spirit, the 737 MAX grounding and the COVID-19 pandemic created a dual-crisis.