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- Bombardier Aerospace:
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Bombardier is a global transportation company, headquartered in Montréal, Canada. It is present in more than 60 countries on five continents and is active in the manufacture of products, systems and the provision of services for the aviation (commercial and business jets) and rail transportation sectors. The division responsible for the company's aircraft manufacturing and related services is Bombardier Aerospace. The division is headquartered in Dorval, Quebec and ranks as the world’s third largest civil aircraft manufacturer, employing of 37,700 people. Its aircraft range includes:
- Business aircraft - Learjet, Challenger and Global aircraft families;
- Commercial aircraft - new CSeries program, CRJ Series and Q-Series aircraft families;
- Amphibious aircraft - Bombardier 415 and Bombardier 415 MP aircraft;
- Jet travel solutions - Flexjet;
- Specialised aircraft solutions - Bombardier aircraft modified for special missions;
- Aircraft services and training - aircraft parts, maintenance, comprehensive training, technical support and publications, and online services.
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Alaska Air Group has no trepidation over growing capacity during 2015 by roughly 8% as its top line revenue and margins have continued to expand during a raft of new market introductions during the last four years.
Most of the expansion has been margin accretive; but at the same time Alaska Airlines is not backing away from exiting underperforming markets, and plans to cut several markets in early 2015 along with reducing capacity on other routes.
Obviously part of its strategy during the short term is managing increased competition from Delta Air Lines at its largest hub in Seattle. But with seven quarters of the competitive pressure under its belt, Alaska’s overall financial health remains robust, evidenced by its pledge to grow shareholder returns year-over-year in 2015.
Myanmar start-up FMI Air is aiming to launch scheduled services by the end of 2014 using 50-seat CRJ200 regional jets based at the capital Nay Pyi Taw. FMI will become the first airline to establish a hub at Nay Pyi Taw, which has an underutilised modern international airport that opened in 2011.
FMI will enter an extremely crowded domestic market which is already served by eight airlines. But it sees an opportunity to differentiate by operating jets rather than turboprops, providing a higher level of service, partnering with foreign carriers and becoming the first domestic operator in Myanmar with IOSA certification.
FMI Air will initially operate on the Yangon-Nay Pyi Taw route, which it has served over the last two years using wet leased aircraft. But it plans quickly to establish a hub at Nay Pyi Taw with several domestic routes in the first phase and eventually regional international routes.
Canada’s WestJet is preparing to face some pressure from competitive capacity increases in CY2015 as rival Air Canada ratchets up its supply through the expansion of its low cost unit rouge and aircraft upgauging.
At the same time WestJet is facing cost pressure in CY2015 as the shorter stage lengths performed by its regional subsidiary Encore become more pronounced in the airline’s results. Even as Encore continues to create some cost headwinds for WestJet, the company believes its regional airline continues to stimulate demand in markets too thin for narrowbody aircraft.
Despite some external and internal pressures, WestJet’s fundamentals remain strong. The company holds strong cash balances and favourable debt ratios while continuing to deliver shareholder returns.
Canada’s two largest airlines believe that capacity growth in the country’s domestic market is in line with demand even if the expansion is occurring at a much more rapid pace than the country’s GDP growth.
Both Air Canada and WestJet are solidly expanding their domestic supply during CY2014 at rates higher than their US counterparts. But the airlines conclude the dynamics of the Canadian market place are different from the US, where a once fragmented industry has rationalised due to consolidation.
Part of each airline’s rationale for expanding capacity is an ability to stimulate traffic through lower fares – a strategy WestJet has adopted since its inception. But with its decreasing costs allowing it to target a higher volume of leisure customers, Air Canada also believes it is stimulating some traffic it was previously unable to access.
With the Farnborough International Airshow over, the major aircraft manufacturers have reported their July orders and deliveries and 2014 is shaping up as another exceptionally strong year for the global airliner market.
Despite the talk of an aircraft ordering bubble, demand remains strong despite some regional weaknesses, order backlogs continue to hit record highs and the major problem for manufacturers is getting their aircraft into the hands of their customers at rates that satisfy them.
Small orders, anonymous buyers and returning customers expanding deals were the running themes for the Bombardier CSeries at the 2014 Farnborough Airshow.
While Bombardier did not rack up headline orders like the larger manufacturers, it still managed to win commitments and firm orders for 63 CSeries aircraft.
There now appears to be sufficient oxygen in the prospects of meeting Bombardier's own target of 300 CSeries orders before the aircraft enters service.