Maverick

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Maverick last won the day on January 28

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About Maverick

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  1. Boeing Defense And Space’s Leanne Caret: ‘We’re Owning Our Mistakes’ Jen DiMascio Joe Anselmo Michael Bruno Steve Trimble July 01, 2020 Boeing defense chief Leanne Caret and outgoing Air Force Chief of Staff Gen. David Goldfein have been working to fix the remote vision system of the KC-46 (background) by fiscal 2023. Credit: Boeing Leanne Caret, president and CEO of Boeing Defense, Space and Security, spoke via teleconference with Aviation Week editors in the run-up to what would have been the Farnborough Airshow. AW&ST: In addition to the turnover among Boeing executives, the company’s stock and reputation have taken a beating in the past year. How is Boeing a different company today than it was 18 months ago? I am confident in the Boeing Co., and we have an enormously bright future. It’s because of the incredible women and men who work for this company and bring their best every day. We have become a very introspective company, very pragmatic. We’re owning our mistakes, and we’re committing to address those. That is the centerpiece of what you have to do to have trust, especially in an industry as critically important as ours is, where people are flying and using our products every day, whether commercially or defending nations and allies. How has COVID-19 affected the goals that Boeing Defense set at the start of the year? The defense industry has been deemed mission-essential. We need to make certain we’re continuing to deliver product to our customers, we keep our supply base healthy, and we all have an eye to the future. I really appreciate the partnership and conversations we’ve had with the Pentagon. You’ve heard [Boeing CEO/President] David Calhoun mention that, after what has happened in the commercial aerospace market, the defense business is important to the Boeing Co.—has been and always will be. After COVID-19, what does the future hold for defense spending? We have a very pragmatic view of the future. I don’t anticipate significant budget increases. We have always planned that at some point we could see a regression in defense budgets. Wall Street is expecting about a 2% increase in revenue for Boeing over the next couple of years. That is on the lower end of where your peers are. They are in the mid-single digits. What rate of growth do you see? I think it’s important to note where we are in the life cycle of many of the products in our portfolio. Where you will continue to see opportunity for us as we move into production on some of those key franchise programs that we won a few years ago is the [T-7 advanced trainer, MQ-25 unmanned carrier-based refueling aircraft and MH-139 helicopter]. We’re all going to see the marketplace adjust as a result of COVID-19. Around the world, we’ve already seen some delays and some very large competitions that have been slighted because customers are having to assess where they are. I want our team to have as its centerpiece meeting our customers’ needs and expectations, and I believe that the outcome of that will be growing the business and strong financial performance. Many big programs are coming down the line, such as the Low-Cost Attritable Aircraft, the Advanced Battle Management System, the Next--Generation Air Dominance or the Future Vertical Lift programs. The Pentagon is emphasizing procurement with more control over intellectual property, fewer hooks into the sustainment phase and more competition. How will Boeing adapt to that over time? Will it require fundamental changes? In the last decade, we were focused on redefining how we designed and built aircraft. We were anticipating that the customer was going to commoditize the type of product that we have traditionally built. We have a foundation in model-based systems engineering to bring the collective best from industry together, so that when a system is in the field, we have developed it with maintainers in mind. Boeing hopes its T-7A advanced trainer will boost the defense division’s financial performance. Credit: Boeing That’s where our build process has really paid off. In 2016, we had not won the T-7 or MQ-25 contracts or certainly not had any thought of the F-15EX yet. All three of those used this concept, which is to use advanced engineering and design toolsets to address the customer’s vision. We placed our bets on changing the way we did business, and we have positioned ourselves nicely. Please update us on the KC-46. Where do things stand with the foreign object debris (FOD) situation? I’m not going to be happy until we’re perfect, and we’re not perfect yet. My focus is to make sure we don’t deliver any aircraft with FOD to the U.S. government. If that means I need to hold back a delivery because a member of our team identified an issue, we’re going to do the right thing. The most important thing is to deliver a perfect product to the customer. I think it is a testament to the steps that we have taken that we will not pass a defect to our customer. It speaks to the culture change that we have instituted over the last 1.5 years. Quite frankly, we have used KC-46 as the bully pulpit to redefine what we want to do as a company, and I’m really proud of the team for leading the way. Is Boeing on track for fixing the KC-46’s remote vision system (RVS) in fiscal 2023? We are looking to demonstrate RVS 1.5 later this summer. It is a building block to what we call RVS 2.0. We have put in place a standard and an agreement that we are all aligned around, that really transcends what the original contract anticipated in terms of RVS. What we are incorporating posi-tions this fleet for not only a leap forward in technology but for autonomous operations in the future. We are on track in this partnership with the U.S. Air Force and the Air Force Research Laboratory. And yes, the timeline is in 2023. What is the outlook for selling F-18s internationally, given the potential for pandemic-related budget reductions in the future? We’ve secured a number of orders with F-18s that have kept our production line hot. Coupled with that, we’re doing the service life modernization program with the U.S. Navy, where we’re bringing every one of the aircraft back through and increasing capabilities that eventually will include Block 3 capabilities. We have seen signs that campaigns in Canada, Finland, Germany, India and Switzerland are sliding a bit to the right. None of them have been, to my knowledge, canceled or stopped. Caret says the F-15QA made for the Qatari air force is “not your grandma’s F-15.” Credit: Boeing One of the things that we’ve seen them dealing with is the impact of COVID. Many times, they have the budget, but the budget may go out a longer period of time. Or right now they are impacted by staff shortages. These are some big opportunities, and I think the F-18 is positioned nicely, both from the aspects of an acquisition cost and the cost per flying hour. What is the outlook for the F-15? We just did our F-15 Qatar flight a few weeks back. We have continued to demonstrate the ability of the F-15 with our Saudi and Qatari customers and the U.S. Air Force. We’re really excited about that opportunity, and it won’t be your grandma’s F-15. Boeing is a bit late on delivering the Space Launch System (SLS), and it was left out of NASA’s competition to build a lunar lander. What are you doing to turn those programs around? On Space Launch Systems, I am really proud of the team for the amazing capabilities they developed with the world’s largest rocket. She’s sitting on the stand at Stennis Space Center. After watching how this team has battled through the COVID crisis, I’m looking forward to having a hot-fire [test] later this year. Early on, we struggled on SLS from an execution phase. There were also different challenges from a funding perspective and other things. Over the course of the last 1.5-2 years, the team has been hitting its milestones and commitments. On the civil space side, SpaceX beat Boeing to the punch on the first Commercial Crew mission. Are you looking to change your approach? On Starliner, we did not execute the full mission profile, and the right thing to do is to refly. I think that’s the right decision, and the teams are focused on that. Our partnership with NASA dates back more than 60 years, and we’re incredibly proud of this heritage. But our future isn’t defined by our past. It’s about making certain that we can continue to innovate and deliver today. This year marks 20 years for the International Space Station. I just couldn’t be more thrilled for the team as Doug [Hurley] and Bob [Behnken] were able to join the other astronauts aboard this station. Human space exploration is not for the faint of heart. It changes mankind. We are going to continue to be a great partner, and we’re going to continue to advocate for everyone’s success when it comes to human space exploration—because it is that important for all of us. https://aviationweek.com/defense-space/boeing-defense-spaces-leanne-caret-were-owning-our-mistakes?elq2=3891669e1e5b48b1b60ecd783011ec52
  2. How can they do that on an aircraft without a valid C of A?
  3. That's provincial. I'm a Conservative but I agree with you in the case of Ontario, everything was too haphazard with no real long term goal. I am really not fond of the NDP but I can't fault how they've handled the situation here in BC. Federally the Liberals are a shitshow, endless pandering to the people that elected them while spending us into oblivion. When interest rates go up and they will, we are in big, big trouble. If an election were called today they'd be re-elected because they've haven't been held to account in parliament. It's all about the votes, it always is.
  4. Until the opposition parties stop rubber stamping everything the Liberals bring forward nothing will happen. Trudeau's morning bunker chats are going over well with his base, even breaking his own social distancing rules for a photo op had no effect. It's nauseating, I can't imagine a worse government to have in power with this going on.
  5. There will be a lot of low-time used A330-200's available soon that would fit the bill nicely. Convert a couple into A330 MRTT's and you're off.
  6. "In May 2020, Air Canada announced that in addition to the planned retirement of the remaining five 767s in its mainline fleet, the 767s from Rouge would also be retired from service." Sad day, one of my favourite aircraft to work on.
  7. Air Canada would like to cancel its marriage to Transat Pierre-Olivier Zappa | VAT News | Published on June 2, 2020 at 10:44 AM Joël Lemay / QMI Agency After raising the stakes to buy Transat, Air Canada would ultimately like the federal government to prevent it from swallowing its competitor. The COVID-19 pandemic is likely to derail the acquisition of Transat. According to three sources informed of the behind-the-scenes discussions, Air Canada would like Ottawa to intervene to block the transaction. A transaction for which the carrier has nevertheless fought. Last August, Air Canada increased its offer to buy from $ 13 per share to $ 18. The company was ready to raise $ 720 million to get its hands on the Quebec flagship. To date, the transaction remains subject to the green light from Transport Canada, whose decision is pending. The current crisis has clouded the outlook and would make the acquisition unnecessary for the national carrier. "Air Canada made it clear to the federal government," said an informed source of the negotiations. Lobbying Since the start of the pandemic, Air Canada's CEO, Calin Rovinescu, and his teams have worked hard with Ottawa. According to the federal lobbyist registry, they reported no fewer than 25 communications with elected officials and public servants. As of March 18, Calin Rovinescu had direct access to Prime Minister Justin Trudeau to discuss issues related to "industry, taxes and finance and transportation". The following day, the company also discussed it with the Minister of Finance, Bill Morneau. On April 23, Transport Minister Marc Garneau also met with Air Canada. Four days later, it was the turn of the Minister of Economic Development, Navdeep Bains, to accept a call. Finally, on March 28, Deputy Prime Minister Chrystia Freeland also spoke with representatives of the carrier according to public records. Worried investors Since January 1, Transat's stock has collapsed on the Toronto Stock Exchange, dropping from $ 16.19 to $ 5.88 at its March low. This fall of 64% shows according to several analysts that investors have thrown in the towel. Air Canada refuses for the moment to clarify its intentions. "Regarding Transat, as we mentioned during the unveiling of our financial results for the first quarter of 2020 on May 4, the regulatory assessment process is underway and we have no update to provide at this stage. "said a spokesperson by email. A federal government decision on the transaction is expected soon. The Ministère des Transports did not immediately respond to questions from TVA Nouvelles. https://www.tvanouvelles.ca/2020/06/02/air-canada-voudrait-annuler-son-mariage-avec-transat?fbclid=IwAR3ikm7BL_ljnBVKSvCGJoKVW_kwWaT8dtybE6B1W3bE2j661Chy2fB6mMw
  8. Does Vail Resorts have the right to keep your money? By G. D. Maxwell CLICK TO ENLARGE WWW.GETTYIMAGES https://www.piquenewsmagazine.com/whistler/does-vail-resorts-have-the-right-to-keep-your-money/Content?oid=15433233
  9. International air travel isn’t expected to soar to pre-pandemic levels anytime soon, but it’s presenting another hang-up in the proposed merger between Air Canada and Transat A.T. Holiday travel operator Transat has pushed back the date that either it or Air Canada can walk away from the $720-million deal without penalty after European regulators announced plans to conduct an in-depth investigation of the merger between the two Montreal-based airlines over fears of higher prices and less choice for flying over the Atlantic. It’s another hurdle for a deal already beleaguered by the stay-at-home orders and travel restrictions caused by the COVID-19 pandemic. Investors question whether the deal will go through at $18 per share since Transat’s stock price has fallen to about $7 per share, a 65 per cent drop since the beginning of the year. Transat said the one-month extension to July 27 is to take into account regulatory decisions complicated by the pandemic. Terms of the deal allow either party to postpone the outside date by one month with no questions asked, with potential for three additional postponements. Air Canada, whose stock has plummeted about 65 per cent to $17.67 since January, can reportedly walk away from the deal if Transat is harder hit by the pandemic than the aviation industry as a whole, according to Reuters. Canadian airlines’ flight volumes have dropped as much as 95 per cent since March, and Air Canada executives estimate it could take three years to re-establish pre-pandemic flight volumes. Ratings agency DBRS Morningstar predicts it could take up to four years to recover in its worst-case scenario, according to research published Tuesday. Air Canada, Transat deal faces intense EU antitrust scrutiny Air Canada to cut at least 20,000 jobs amid collapse of air travel What you need to know about how airline miles are changing When stay-at-home orders lift, trips to Europe won’t be the first thing on Canadians’ minds, based on the experience in China where domestic travel recovered to about half of pre-pandemic levels. “We think it is likely that the initial recovery in air passenger traffic will be led by domestic travel (similar to China) as international travel is subject to the effectiveness of each country’s containment measures and fiscal and monetary policies,” DBRS stated. From a global perspective, North America and Europe have been hardest hit by the pandemic, leading to a severe drop in air traffic. The International Air Transport Association predicts airlines will lose a collective $314 billion in revenue due to the pandemic. Still, the European Commission said Monday it must conduct a more thorough investigation given the overlap in routes between the two airlines. It expects to make a decision by the end of September. “This is a challenging time, especially in markets severely impacted by the coronavirus outbreak, but a return to normal and healthy market conditions must be based on markets that remain competitive,” Margrethe Vestager, executive vice-president for competition policy, said in a statement. Combined, the airlines could snag as much as 60 per cent of the trans-Atlantic market share, with up to two-thirds of the flights from Toronto and Montreal, based on pre-pandemic estimates from the National Bank. Canada’s competition regulator raised concerns about the market share the joint entity would enjoy, but the decision ultimately lies with Transport Canada. While Transport Canada’s decision is of more significance, there is no deadline for a government decision, Altacorp Capital noted to clients Tuesday. Regardless, Altacorp expects travellers to remain cautious even as domestic traffic starts to recover in the second half of 2020. About 75 per cent of Canadians agreed or somewhat agreed they will be nervous about flying until a vaccine is developed, according to a Nanos Research survey of 1,001 Canadians conducted for low-cost carrier Flair Airlines. https://business.financialpost.com/transportation/transat-pushes-back-walk-away-date-on-air-canada-deal-after-eu-regulators-begin-probe
  10. I believe this deal will wither and die on the vine and it should. AC is going to be half the size or less than it was and it can be argued that they have a vast excess of wide-body capacity. The only thing of any real value that AT now brings to the table are the A321's and a few resorts that will now be virtual ghost towns for a few years. If AT was based anywhere else but Quebec AC would have run for the hills long ago.
  11. This is exactly why Nav Canada should be a federal entity.
  12. One of the snowbirds has crashed in Kamloops, pilot ejected but the aircraft hit a house...
  13. Have not heard one word even speculating that.
  14. The storage cost is minimal but being in active storage increases the cost quite a bit. That pic of Pinal Park is less than a week old. I know that for certain.
  15. I'd have to agree, I can see both AC and WJ at 1/2 to maybe 2/3 the size they are today in three years. Sunwing will be about 1/2 but the real wild card is the AT deal. I can see great resistance from AC now that the demand has collapsed, throw in a very senior bunch of pilots and other than the A321, an aging fleet of all other types. The A330's in particular, with the majority being -200's does not fit particularly well in AC's fleet. Their average age is close to 20 years old which is not good. I was just in Marana and the only Airbus wide-bodies on death row were A340's and A330-200's. FWTW... AC lost a billion dollars in Q1 and Q2 will be way worse so an almost 3/4 billion investment is not a good investment now or even the future. This actually is more similar than dissimilar to the the AC CAIL merger.