Bombardier Announces Definitive Agreement to Sell Aerostructures Business to Spirit AeroSystems Holding, Inc.

jueves, 31 de octubre de 2019

October 31, 2019 - Montréal
 
  • Sale of aerostructures business supports Aviation transformation, refocuses on business aviation and strengthens liquidity
  • Expected cash proceeds of $500 million (1)plus the assumptions of liabilities
  • Transaction implies enterprise value to 2019E EBITDA multiple of approximately 10x
All amounts in this press release are in U.S. dollars unless otherwise indicated.
Bombardier (TSX: BBD.B) today announced a definitive agreement to sell its aerostructures business to Spirit AeroSystems Holding, Inc. (Spirit), supporting Bombardier’s strategic decision to focus on its two strong growth pillars, trains and business aircraft.

With this transaction, Spirit will acquire Bombardier’s aerostructures activities and aftermarket services operations in Belfast, U.K.; Casablanca, Morocco; and its aerostructures maintenance, repair and overhaul (MRO) facility in Dallas, U.S. for a cash consideration of $500 million and the assumption of liabilities with a total carrying value in excess of $700(2) million, including government refundable advances and pension obligations. Following the transaction, Spirit will continue to supply structural aircraft components and spare parts to support the production and in-service fleet of Bombardier Aviation’s Learjet, Challenger and Global families of aircraft.
2019 revenues for these activities are expected to be approximately $1.0 billion(3) , while generating adjusted EBITDA margin of approximately 12%. On this basis, the transaction implies an enterprise value to EBITDA multiple of approximately 10x.

The transaction follows the formation of Bombardier Aviation earlier this year and streamlines Bombardier’s aerostructures footprint to focus on core capabilities in Montreal, Mexico and its Global 7500 wing operations in Texas. The transaction also further strengthens Bombardier’s liquidity as it moves toward the deleveraging phase of the turnaround. The transaction is expected to close in the first half of 2020 and remains subject to regulatory approvals and customary closing conditions.

“This transaction represents another strategic milestone in the reshaping of our portfolio to focus on our strong business aircraft and rail franchises,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. “We are confident that Spirit’s acquisition of these aerostructures assets is the best outcome for customers, employees and shareholders, and we are committed to ensuring a smooth and orderly transition.”


About Bombardier
With over 68,000 employees, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries as well as a broad portfolio of products and services for the business aviation, commercial aviation and rail transportation markets. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion US. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
Bombardier, Challenger, Global, Global 7500, and Learjet are trademarks of Bombardier Inc. or its subsidiaries.

Read more...

Bombardier Reports Third Quarter 2019 Results



  • Consolidated revenues of $3.7 billion, representing 8% organic growth(1)
  • Consolidated adjusted EBITDA(2)and adjusted EBIT(2)of $255 million and $159 million, respectively; $143 million of reported EBIT
  • Free cash flow usage(2)of $682 million, supporting Global 7500 and Transportation ramp-up; $557 million operating cash flow usage
  • Clear roadmap to full year revenues, earnings(4)and free cash flow guidance supported by planned fourth quarter delivery schedules at Aviation and Transportation(3)


continue reading
https://ir.bombardier.com/en/press-releases/press-releases/85107-bombardier-reports-third-quarter-2019-results

Read more...

Airbus partners with Amprius, leader in high energy density battery technology

 
 
press release
 
 
 
 
 


  • Strategic investment by Airbus Defence and Space in Amprius, Inc.
  • A new generation of Silicon Nanowire Anode-based Lithium Ion Batteries.
  • Expanding production capability to match near term needs of the Zephyr program.
 
 
 
Munich, 31 October 2019 – Airbus Defence and Space has partnered with U.S. based Amprius Inc’s current equity funding. This financing will further boost the development of new generation batteries based on Silicon Nanowire Anode technology.
 
 
 
Airbus Defence and Space’s investment will help drive the development of higher volume production capacity along with higher energy density cells for Airbus Defence and Space aerospace programmes, including the Zephyr High Altitude Pseudo Satellite and Urban Air Mobility innovation initiatives.
 
 
 
“This partnership re-inforces the link between two market leaders, the newest generation batteries of the market matched with the most advanced HAPS programme. Zephyr is currently the only one operating in the stratosphere at an average altitude of 70,000 and running exclusively on solar power, providing persistent local satellite-like services and supporting a wide range of applications and tasks.” said Jana Rosenmann, Head of Airbus Unmanned Aerial Systems.
 
 
 
The first to introduce 100% silicon anodes in lithium ion batteries to the market in 2013, Amprius manufactures the highest energy density commercial batteries in the industry. The company’s products and technology platforms include a 100% silicon nanowire anode, silicon-graphite composite anodes, lithium-rich cathodes, and high voltage electrolytes tailored for silicon.
 
 
 
“We are extremely pleased to be working with Airbus and supplying batteries for the Zephyr program,” said Jon Bornstein, COO of Amprius. “The incorporation of Amprius’ 100% silicon nanowire anode-based lithium ion batteries into the Zephyr platform represents an important validation of this technology. Likewise, our development of high energy power cells for Urban Air Mobility will enable exciting opportunities in new aviation markets.”
 
 
 
Amprius Inc.’s high energy density batteries are used for smartphones, wearables, drones, robotics, aerospace vehicles, electrical transportation, and military equipment.
 
 
 
Zephyr is the world’s leading, solar–electric, stratospheric Unmanned Aerial Vehicle (UAV). It will bring new see, sense and connect capabilities to both commercial and military customers. Zephyr will provide the potential to revolutionise disaster management, including monitoring the spread of wildfires or oil spills. It provides persistent surveillance, tracing the world’s changing environmental landscape and will be able to provide communications to the most unconnected parts of the world.
 
 
 
Zephyr is enabled by the latest in battery technology. Both the increase in production volumes of the new generation batteries and research for future development will be used to further the Zephyr programme and build on its market leading position.
 
 
 
* * *
 
 
 
About Airbus
 
Airbus is a global leader in aeronautics, space and related services. In 2018 it generated revenues of € 64 billion and employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airliners. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world’s leading space companies. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.
 
 
 
About Amprius
 
Amprius, Inc. is a leading manufacturer of high energy and high capacity lithium-ion batteries producing the industry’s highest energy density cells. The company’s corporate headquarters is in Fremont, California where it maintains an R&D lab and pilot manufacturing facility for the fabrication of silicon nanowire anodes and cells. Amprius, Inc. has a materials R&D lab in Nanjing, China; and a high volume battery manufacturing facility in Wuxi, China.
 
 
 
About the Airbus Zephyr Programme
 
The original target mission of the Zephyr is to provide local persistence at an affordable price with a re-usable solar-powered aircraft, providing a wide scope of applications, ranging for example from maritime surveillance and services, border patrol missions, communications, forest fire detection and monitoring, or navigation. Operating in the stratosphere at an average altitude of 70,000 feet / 21 kilometers, the ultra-lightweight Zephyr has a wingspan of 25 meters and a weigh of less than 75kg, and flies above weather (clouds, jet streams) and above regular air traffic, covering local or regional footprints.
 
Ideally suited for "local persistence" (ISR/Intelligence, Surveillance & Reconnaissance), the Zephyr has the ability to stay focused on a specific area of interest (which can be hundreds of miles wide) while providing it with satellite-like communications and Earth observation services (with greater imagery granularity) over long periods of time without interruption. Not quite an aircraft and not quite a satellite, but incorporating aspects of both, the Zephyr has the persistence of a satellite with the flexibility of a UAV. The only civil aircraft that used to fly at this altitude was Concorde and only the famous military U2 and SR-71 Blackbird could operate at similar levels. The Zephyr successfully achieved several world records, including the longest flight duration without refuelling when in 2018, on its maiden flight, the Zephyr S, the first production model of the aircraft, flew for over 25 days and achieved very high altitude records of 71, 140 feet (over 21 kilometers).

Read more...

Airbus reports Nine-Month (9m) 2019 results; delivery and FCF outlook updated, EBIT Adjusted guidance maintained

  • Solid commercial aircraft environment
  • 9m financials mainly reflect A320neo ramp-up and A350 progress
  • Revenues € 46.2 billion, +14% YoY; EBIT Adjusted € 4.1 billion, +51% YoY
  • EBIT (reported) € 3.4 billion; EPS (reported) € 2.81
  • 2019 guidance updated for delivery outlook of around 860 commercial aircraft: FCF before M&A and Customer Financing now approximately € 3 billion, EBIT Adjusted guidance maintained


continue reqding
https://www.airbus.com/newsroom/press-releases/en/2019/10/airbus-reports-nine-month-9m-2019-results-delivery-and-fcf-outlook-updated-ebit-adjusted-guidance-maintained.html

Read more...

AVX Aircraft's Morgan & L3Harris' Steenman on New Joint FARA Proposal

Lynn Morgan, the chief test pilot at AVX Aircraft, and Matthew Steenman, the chief engineer at the aviation services sector at L3Harris, discuss their joint proposal to win the US Army's Future Attack Reconnaissance Aircraft contract and a walkaround of the model of the new helicopter with Defense & Aerospace Report Editor Vago Muradian at the Association of the United States Army's 2019 conference and tradeshow in Washington, DC. Our coverage was sponsored by GM Defense, Bell, L3Harris and Leonardo DRS.





https://youtu.be/46kp2OwFqQI


Read more...

EASA Annual Safety Conference 2019 | EASA

This year's EASA Annual Safety Conference will take place on the 4th and 5th of November 2019 in Helsinki. For the first time, it will focus on operational safety in the context of commercial air transport.

The Conference is jointly organised by the Finnish Aviation authority Traficom and EASA. It will take place in the context of the Finnish Presidency of the Council of the EU.



https://www.easa.europa.eu/newsroom-and-events/events/easa-annual-safety-conference-2019

Read more...

Qantas grounds Boeing 737 plane with structural crack. union calls on Qantas to ground entire 737 fleet for investigation

https://www.channelnewsasia.com/news/world/boeing-737-crack-qantas-12049784


https://www.theguardian.com/australia-news/2019/oct/31/qantas-checks-boeing-737-fleet-after-crack-discovered-in-one-plane



Read more...