Tag Archives: Embraer ERJ 190-100 IGW

Copa Holdings reports net profit of $104.0 million, updates on the MAX, will early retire the E190

E190 fleet to be retired in 2021

Copa Holdings, S.A. has announced financial results for the third quarter of 2019 (3Q19).

The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS). Unless otherwise stated, all comparisons with prior periods refer to the third quarter of 2018 (3Q18).

OPERATING AND FINANCIAL HIGHLIGHTS

  • ▪  Copa Holdings reported net profit of US$104.0 million for 3Q19 or earnings per share (EPS) of US$2.45, compared to net profit of US$57.6 million or earnings per share of US$1.36 in 3Q18.
  • ▪  Operating profit for 3Q19 came in at US$132.9 million, representing a 70.9% increase from an operating profit of US$77.8 million in 3Q18.
  • ▪  Total revenues for 3Q19 increased 5.3% to US$708.2 million. Yield per passenger mile increased 7.9% to 12.5 cents and revenue per available seat mile (RASM) increased 9.4% to 11.1 cents.
  • ▪  Operating cost per available seat mile (CASM) increased 0.5% to 9.0 cents in 3Q19. Excluding fuel costs, CASM increased 5.5% from 5.9 cents in 3Q18 to 6.2 cents in 3Q19, mainly due to the decrease in capacity related to the grounding of the Boeing MAX fleet.
  • ▪  Operating margin for 3Q19 came in at 18.8%, 7.2 percentage points higher than the 11.6% generated in 3Q18.
  • ▪  While capacity (measured in available seat miles, or ASMs) decreased by 3.7% in 3Q19 due to the grounding of the Boeing MAX fleet, consolidated passenger traffic (measured in revenue passenger miles, or RPMs) decreased by only 2.2%. As a result, consolidated load factor for the quarter increased 1.4 percentage points to 85.6%.
  • ▪  The sum of cash, short-term and long-term investments was US$885.5 million at the end of 3Q19, representing approximately 33% of the last twelve months’ revenues.
  • ▪  Despite the operational challenges presented by the grounding of its Boeing MAX fleet, Copa Airlines delivered an on-time performance of over 92% and a flight-completion factor of 99.8%, maintaining its position among the best in the industry.
  • ▪  Copa Holdings ended the quarter with a consolidated fleet of 103 aircraft – 68 Boeing 737-800s, 14 Boeing 737-700s, 15 Embraer 190s (top) and 6 Boeing MAX 9s.
  • ▪  The Company has not taken any aircraft deliveries since the world-wide grounding of the Boeing MAX fleet took effect in March 2019. According to its original growth plan for 2019, the Company should have received six additional Boeing MAX 9s during the first three quarters of the year and would have received one more in the fourth quarter to end the year with 13 Boeing MAX9 aircraft.Subsequent Events
  • ▪  Copa Holdings will pay its fourth quarterly dividend of $0.65 per share on December 13, to all Class A and Class B shareholders on record as of November 29, 2019.
  • ▪  As part of the world-wide grounding of the Boeing MAX fleet, the Company has removed all Boeing MAX operations from its schedule until mid-February 2020.
  • ▪  As part of its plan to increase efficiencies, the Company has decided to accelerate the exit of its E190 fleet (top) and is planning to sell the remaining 14 aircraft over the next 18 months, 3 years earlier than previously planned. This anticipated exit could result in a book loss in the range of US$90 million related to the sale of the aircraft and spare parts inventory.

Despite the operational and financial impact of the grounding of its Boeing MAX fleet, Copa Holdings delivered a great quarter, with strong financial results and outstanding operational metrics. Higher load factors and yields resulted in a significant unit revenue increase, which generated a 18.8% operating margin for the quarter, a 7.2 percentage point increase over 3Q18. In terms of operational results, the Company delivered a 92% on-time performance and 99.8% completion factor, placing it again among the best in the industry.

The Company ́s consolidated operating revenue increased 5.3% to US$708.2 million during the quarter, despite a 3.7% decrease in capacity compared to 3Q18.

Load factor came in at 85.6%, or 1.4 percentage points above 3Q18. Yields improved 7.9% to 12.5 cents. As a result, passenger revenues per ASM (PRASM) increased 9.7% to 10.7 cents in 3Q19.

Total operating expenses for 3Q19 decreased 3.2% to US$575.3 million, while operating expenses per ASM (CASM) increased 0.5% to 9.0 cents. Excluding fuel costs, CASM increased 5.5% to 6.2 cents, mainly due to the capacity reduction resulting from the grounding of the Boeing MAX fleet.

Aircraft fuel expense decreased by 12.6%, or US$25.5 million, compared to 3Q18 due to lower jet fuel prices and fewer gallons consumed given the lower capacity. The Company’s effective jet fuel price decreased 10.2%, from an average of US$2.40 per gallon in 3Q18 to an average of US$2.16 per gallon in 3Q19.

The Company recorded non-operating expense of US$16.6 million for 3Q19 compared to non-operating expense of US$8.9 million in 3Q18. The non-operating expense in 3Q19 was mostly comprised of a net interest expense of US$6.6 million and a US$9.6 million translation loss due to foreign currency fluctuations, primarily resulting from the significant devaluation of the Argentine Peso.

Copa Holdings closed the quarter with US$ 885.5 million in cash, short-term and long-term investments, representing approximately 33% of last twelve months ́ revenues.

Total debt at the end of 3Q19 amounted to US$1.10 billion compared to US$1.29 billion at the end of 2018, all of which is related to aircraft financing. At the end of the quarter, the Company’s lease liability- adjusted net debt to EBITDA ratio was 0.8 times.

The company has a very solid business model, which is based on operating the best and most convenient network for intra-Latin America travel from its Hub of the Americas® based in Panama’s advantageous geographic position, with the region’s lowest unit costs, best on-time performance, and a strong balance sheet. Going forward, the Company expects to continue strengthening its long-term competitive position by taking advantage of new growth opportunities and implementing initiatives to further strengthen its network and product, while continuing to reduce unit costs.

Top Copyright Photo: Copa Airlines Embraer ERJ 190-100 IGW HP-1556CMP (msn 19000016) SAL (Tony Storck). Image: 922298.

Copa Airlines aircraft slide show:

Advertisements

Avianca El Salvador retires its last Embraer 190

The last Embraer 190 revenue flight operated with N936TA on July 1, 2019 (flight TAI 316 Panama City - San Salvador)

Avianca Holdings is streamlining its operations and selling off certain assets due to its on-going reorganization.

The group announced the plan to retire its former TACA Embraer 190 fleet which never adopted the Avianca brand.

Avianca (El Salvador) (formerly TACA), as planned, has now phased out its last Embraer 190. The pictured N936TA operated the last revenue flight for the type as flight TAI 316 on July 1, 2019 from Panama City to the San Salvador base.

Avianca (El Salvador) operates between El Salvador and the following destinations:

  • Belize
  • Bogotá
  • Cali
  • Cancún
  • Ciudad de Guatemala
  • Ciudad de México
  • Ciudad de Panamá
  • Guayaquil
  • La Habana
  • Liberia
  • Lima
  • Managua
  • Medellín
  • Quito
  • Roatán
  • San José de Costa Rica
  • San Pedro de Sula

Avianca Holdings S.A., previously announced on June 4, through its subordinates Grupo Taca Holdings Limited and Nicaraguense de Aviacion S.A., it closed the sale of its shares in Turboprop Leasing Company Ltd., parent company of the Costa Rican airline Servicios Aéreos Nacionales S.A (SANSA) and in Nicaraguan airline Aerotaxis La Costeña S.A (La Costeña).  These airlines operate domestic flights in Costa Rica and Nicaragua, respectively.

The buyer is Regional Airlines Holding LLC., domiciled in Delaware, USA. The transaction was closed on May 31, 2019 by perfecting the contract for the purchase and sale of shares entered into on April 22 between the parties.

This transaction occurs within the framework of the Holding’s new corporate strategy aimed at strengthening its international passenger transportation segment, as well as focusing on the loyalty (LifeMiles) and cargo transportation (Avianca Cargo) business units.

It is important to note that with this transaction, thirteen Cessna 208 and two ATR 42 aircraft will no longer be part of Avianca Holdings’ fleet, in line with the company’s fleet simplification strategy.

In Costa Rica, the Holding has its own airline (Avianca Costa Rica S.A.), operating direct flights to the company’s three hubs: (San Salvador, Bogota and Lima); as well as the Guatemala City and Panama City. Likewise, flights to destinations in Canada, Chile, Ecuador, the United States and Mexico are operated with Costa Rican crews.

Top Copyright Photo: TACA International Embraer ERJ 190-100 IGW N936TA (msn 19000215) MIA (Brian McDonough). Image: 908637.

JetBlue to fly to Nantucket this summer from New York LaGuardia and Westchester

JetBlue Airways Embraer ERJ 190-100 IGW N178JB (msn 19000004) (Tartan) JFK (Fred Freketic). Image: 944367.

JetBlue Airways today announced it is expanding service to Massachusetts’ Nantucket Memorial Airport (ACK) with new summer seasonal service from New York’s LaGuardia Airport (LGA) and Westchester County Airport (HPN).

Westchester flights take off June 13, 2019 and will operate on Thursdays, Fridays, Saturdays, Sundays and Mondays.

LaGuardia flights will launch on June 15, 2019 and operate on Saturdays and Sundays.

JetBlue has served Nantucket for more than a decade, first landing on the island in May 2007. The newly announced routes will complement JetBlue’s existing summer seasonal service to the New England destination from New York’s John F. Kennedy International Airport (JFK) (top photo), Boston Logan International Airport (BOS), and Ronald Reagan Washington National Airport (DCA).

On peak summer travel days in 2019 JetBlue will operate up to ten daily flights to Nantucket, providing capacity for up to 2,000 daily customers. The additional flights also bolster JetBlue’s leadership position in both New York and New England where the airline is already a top carrier, and brings new travel choices to customers in these important regions.

Schedule between Westchester (HPN) and Nantucket (ACK)
Thursdays – Mondays Beginning June 13, 2019

HPN – ACK Flight #2121 ACK – HPN Flight #2122
8:30 a.m. – 9:30 a.m. 1:50 p.m. – 3:00 p.m.

Schedule between LaGuardia (LGA) and Nantucket (ACK)
Saturdays Beginning June 15, 2019

LGA – ACK Flight #1609 ACK – LGA Flight #1610
8:00 a.m. – 9:10 a.m. 10:05 a.m. – 11:11 a.m.

Schedule between LaGuardia (LGA) and Nantucket (ACK)
Sundays Beginning June 16, 2019

LGA – ACK Flight #1609 ACK – LGA Flight #1610
1:40 p.m. – 2:51 p.m. 3:40 p.m. – 4:53 p.m.

JetBlue will serve the new routes with its Embraer 190 aircraft.

Top Copyright Photo: JetBlue Airways Embraer ERJ 190-100 IGW N178JB (msn 19000004) (Tartan) JFK (Fred Freketic). Image: 944367.

JetBlue aircraft slide show:

Current routes from Nantucket:

 

 

Republic Airways welcomes the first aviation training academy class

Republic Airlines (2nd) Embraer ERJ 190-100 IGW N173HQ (msn 19000206) DCA (Brian McDonough). Image: 909600.

Republic Airways Holdings issued this statement:

The first class of future pilots at the Republic Airways Holdings’ LIFT Academy will “take off” on Tuesday. LIFT Academy, a U.S.-based aviation training school located at the Indianapolis International Airport (IND), launched in May of 2018 and makes aviation training affordable, accessible and attractive. Over 600 applications were received for the first class.

LIFT Academy makes a career as a commercial pilot more accessible to all by reducing the cost and structural barriers to entry in aviation.  Applying to LIFT is free, and total tuition for the flight academy is $65,000, which is lower than most other aviation training schools in the U.S.  Further, graduates of LIFT are guaranteed a First Officer job with Republic Airways. To further help students with tuition costs, Republic is also offering financing opportunities and loan assistance to those who qualify.

“We are thrilled to welcome our first class to LIFT Academy,” said Matt Koscal, Senior Vice President and Chief Administrative Officer, Republic Airways Holdings. “LIFT Academy is revolutionizing pilot training by introducing the most technologically advanced flight program, while removing barriers such as cost and accessibility that today limit the pilot career to a narrow demographic.”

LIFT Academy features a structured aviation education environment and curriculum that combines flight, flight simulator, online and in-classroom training. Throughout the training program, students train on a fleet of advanced new aircraft and flight simulators produced by Diamond Aircraft Industries, including the DA40 single-engine and the DA42 twin-engine aircraft.  Both aircraft possess the most advanced technology in the industry, including the most sophisticated avionics suite in the market. The program will be further enhanced with Diamond Flight Simulator Training Devices (FSTD) built to achieve the most realistic cockpit simulation environment.

Republic currently hires nearly 700 commercial pilots annually, and that number is expected to grow by 50% over the next decade. The airline industry is currently facing a significant pilot shortage. Reports indicate 637,000 new commercial airline pilots will be needed worldwide by 2036 to meet demand because of contributing factors like pilot retirements and worldwide aviation growth.

Interested students can call 317.471.2200 or 1.800.435.2552 and visit flywithLIFT.com. Republic Airways officials are available to answers questions regarding the pilot shortage and LIFT Academy.

Top Copyright Photo (all others by Republic): Republic Airlines (2nd) Embraer ERJ 190-100 IGW N173HQ (msn 19000206) DCA (Brian McDonough). Image: 909600.

Republic aircraft slide show:

x

AeroMexico flight 2431 crashes at Durango, Mexico

Crashed on takeoff at Durango (Mexico) on July 31, 2018

AeroMexico Connect flight AM 2431 operating from Durango, Mexico to Mexico City on July 31, 2018 with Embraer 190 XA-GAL (above) crashed while attempting to takeoff from Durango and overran the runway and burned. The 99 passengers and four crew members were able to exit the burning aircraft. The aircraft is destroyed.

The flight was attempting to takeoff in heavy rain. Downdraft?

Videos:

On social media:

49 people were hospitalized.

Two people, including one crew member, are in critical but stable condition.

AeroMexico issued this updated statement:

We deeply regret the events of this Tuesday evening involving flight AM 2431 from Durango bound for Mexico City.

This is a very difficult day for passengers, pilots, flight attendants, families, and loved ones of all those affected by this accident; as well as for our Aeromexico family and Mexico at large.

During a press conference the CEO of Grupo Aeromexico, Andres Conesa, expressed, “Our heart is with those affected and their families. We are deeply saddened and moved by this incident, and we would like to reiterate, first of all, that the Grupo Aeromexico family extends its support, thoughts, and prayers to those affected and their families. We are doing everything in our power to assist them.”

Aboard the aircraft were 88 adult passengers, nine minors, two infants and four crew members, as well as two pilots and two flight attendants. At present time no human losses have been reported thanks to the prompt action of the crew and passengers. The safety of our passengers is our first priority. Our more than 14,000 employees are wholly committed to the well-being of passengers and their families.

The aircraft involved was an Embraer 190 with registration XA-GAL, manufactured in 2008 and has been operated as part of our fleet since 2014.

At the moment, our priority is to address the needs of those affected and their families by taking the following actions:

  1. Providing attention and care for passengers and crew in nearby medical facilities.
  2. The Aeromexico Emergency Response Team is already in the accident zone and is focused on assisting passengers and their families.
  3. We have made free transportation available to relatives of affected passengers in Durango. To this end, a telephone helpline has been established at +52 (55) 51 33 40 59 in Mexico and 1 866 205 4084 from abroad.

We are closely collaborating with the relevant authorities, particularly with the Director General of Civil Aviation (DGAC), to establish the cause of this accident.

On behalf of the company, Andres Conesa especially thanked the crew for their professional actions, along with the Federal and State authorities, whom from the first minute have supported the rescue and assistance efforts. Moreover, he also thanked the employees for their professionalism and prompt response, as well as other airlines that have expressed their solidarity.

Lastly, we would like to reaffirm that we are focused 100% on doing everything in our power for the well-being of passengers and their families.

Read more from CNN: CLICK HERE

Top Copyright Photo: AeroMexico Connect Embraer ERJ 190-100 IGW XA-GAL (msn 19000173) LAX (Michael B. Ing). Image: 942978.

AeroMexico Connect aircraft slide show:

JetBlue grows again in Fort Lauderdale-Hollywood with start date set for new Grand Cayman service

Named "Blue-yah!"

JetBlue Airways today announced it is again growing in South Florida and in the Caribbean with the start of nonstop service between Fort Lauderdale-Hollywood (FLL) and Grand Cayman (GCM).

JetBlue first announced its intent to fly this route in January. Service will operate once daily beginning October 25, 2018.

New Fort Lauderdale-Hollywood service will complement JetBlue’s existing service from New York’s John F. Kennedy International Airport (JFK) and seasonal service from Boston Logan International Airport (BOS).

Schedule between Fort Lauderdale (FLL) and Grand Cayman (GCM)
Beginning October 25, 2018

FLL-GCM Flight #1397 GCM-FLL Flight #1398
10:26 a.m. – 10:53 a.m. 11:53 a.m. – 2:29 p.m.

The new service also advances JetBlue’s position as the top airline at Fort Lauderdale-Hollywood, where the airline plans to operate 140 daily flights in the coming years.

Fort Lauderdale-Hollywood is one of JetBlue’s fast-growing focus cities, serving customers throughout South Floridaand offering a fast and convenient alternative for Miami-Dade travelers. The airline also recently expanded its operation to two new gates in Terminal 3 and began utilizing Terminal 1 for additional international arrivals to help support future growth.

JetBlue intends to serve the route with its 100-seat Embraer 190 aircraft offering the airline’s award-winning service and the most legroom in coach (b), as well as complimentary and unlimited name-brand snacks and soft drinks and free first-run Hollywood movies.

Copyright Photo: JetBlue Airways Embraer ERJ 190-100 IGW N187JB (msn 19000009) (Blueberries) FLL (Bruce Drum). Image: 104650.

JetBlue aircraft slide show:

Georgian Airways now flies to Italy

Named "Batumi"

Georgian Airways on March 28 added a new route linking Tbilisi with Bologna. This is the first route to Italy by the carrier. The new route operates twice-weekly on Wednesdays and Fridays.

Copyright Photo: Georgian Airways Embraer ERJ 190-100 IGW 4L-TGU (msn 19000064) BLQ (Marco Finelli). Image: 941411.