Delta Air Lines received (30-Sep-2013) its first Boeing 737-900ER as part of a 100-aircraft order placed in 2011. The aircraft is fitted with 180 seats and Boeing's 'Sky Interior'. Boeing Commercial Airplanes senior VP of global sales John Wojick said: "We have been looking forward to celebrating this delivery with Delta and are proud to see the Next-Generation 737-900ER join its fleet. The 737-900ER is a great fit for Delta’s fleet. It provides best-in-class efficiency, economics, reliability and passenger comfort that Delta needs for its fleet renewal initiative." B/E Aerospace chairman and CEO Amin J Khoury said: "We are...particularly pleased that this airplane configuration includes B/E Aerospace seating, lighting, passenger and crew oxygen, and food and beverage preparation and storage equipment as well as B/E’s advanced lavatory system which incorporates B/E’s toilet, lavatory oxygen, and lavatory lighting." [more - original PR - Boeing] [more - original PR - B/E Aerospace]
Delta Air Lines takes delivery of first 737-900ER
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Iran CAPA Aviation Summit – hope turns to frustration, but optimism remains as growth abounds
When CAPA – Centre for Aviation held its first conference in Iran at the end of Jan-2016 the atmosphere was primarily one of optimism. Immediately preceding the conference the expectation was that Iran and the West would move to rapidly reverse decades of estrangement. The first round of sanctions against Iran had come down – in line with the historic 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear agreement reached between Iran and the ‘5+1’ powers – and major airlines and aircraft manufacturers were coming to the table.
While it was acknowledged that progress on major deals was not going to happen overnight, the hope was that as layers of sanctions came down, Iran would be embraced by the rest of the world. In return, Iran was expected to open itself up progressively to foreign trade and investment, and to travel.
The road ahead was perceived to be one that was both a very different, and far easier, one than the one Iran had already travelled. Aviation in particular was a sector that was expected to shine and lead the way for a new era for the country.
Air Canada Part 2: Financial progress makes investment grade metrics more tangible
A decade ago it would have been unheard of for Air Canada to contemplate reaching an investment grade credit rating. The airline had emerged from bankruptcy protection, but was still struggling financially. It would teeter on the verge of another formal restructuring before setting out on a course to restructure its financial foundation – a process that has allowed the airline to improve its balance sheet and leverage.
Air Canada’s leverage targets for YE2018 will not meet the general proxy for an investment grade rating; however, its lower capital commitments and debt refinancing could create an opportunity for achieving that status beyond 2018.
Attaining an investment grade credit rating likely remains a longer term goal for Air Canada as its major financial goals in the short term remain paying down debt that is creeping up due to a fleet renewal, as well as funding growth to drive long-term shareholder value. More meaningful shareholder returns will likely occur once the company reaches what it deems as acceptable progress in debt management, and reaches a certain maturity level in growing its international network.
This is Part 2 in a two part series on Air Canada. Part 1 dealt with long haul LCC subsidiary, rouge.