Investors Betting Big on eVTOL's Multi-purpose Potential, A 40% Pay Increase for Pilots and More
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Horizon Aircraft poll shows investors betting big on eVTOL's multi-purpose potential
A poll of private equity and venture capital investors has found air taxis to be the fourth most popular application for early electric vertical takeoff and landing (eVTOL) operations.
The survey was conducted by Toronto-based Horizon Aircraft and found that 14% of respondents believed air taxis would be a top early application, with 27% saying search and rescue missions would be the main purpose for eVTOL operation.
Meanwhile, 93% of respondents said they expect growing demand for eVTOL aircraft to accelerate both regulatory works to enable their operation and increased financing to fuel their development and production. Read more
American Airlines set to match Delta's pilot pay with a 40% increase
American Airlines (AA) CEO, Robert Isom, announced that the airline is prepared to match Delta Air Lines (DL) new pilot contract, which would involve raising pilot pay by a cumulative 40% over four years and improving profit sharing.
Isom stated that these new pilot deals would set the standard for compensation and benefits for pilots across the industry. The new agreement is expected to cost the airline almost US$7bn. Read more
China Airlines' net profit plummets 70% amid soaring costs
China Airlines has reported a 70% year-on-year drop in net profit for 2022, with earnings of $92.5m attributed to increasing operational costs that outpaced revenue growth.
Despite cargo rates falling and heightened competition in the passenger market, the airline's revenue increased 8.5% year-on-year last year, helped by higher ticket prices in the passenger market and strong demand in H2.
However, the cost of aviation fuel rose 70% YoY, leading to a 20% increase in operational costs. Despite these outcomes, China Airlines remains positive about the passenger market and aims to increase flights to earn more passenger revenue. Read more
From layoffs to hiring spree: India's aviation industry rebounds post-pandemic
India's aviation industry is experiencing a revival, with a predicted compound annual growth rate of 6% over the next 20 years.
The sector is considered the fastest-growing in the world, with passenger traffic reaching pre-pandemic levels of 123 million in 2022.
Forecasters anticipate traffic will reach 480 million by 2036, surpassing combined numbers from Japan and Germany. With these, the surge in aviation employment has begun with airlines hiring skilled pilots, engineers, and cabin crew. Read more
ZeroAvia achieves record performance in fuel cell testing for large aircraft and rotorcraft
ZeroAvia has achieved record-breaking performance in testing its High-Temperature Proton Exchange Membrane (HTPEM) systems, demonstrating a record 2.5 kW/kg specific power at the cell level.
The pressurized 20kW HTPEM stack power module was tested at ZeroAvia's UK R&D location, paving the way for 3+ kW/kg system-level densities in the next two years.
The development of fuel cell technology for aviation is necessary to enable true zero-emission commercial flight. For energy-intensive applications like large fixed-wing aircraft and rotorcraft, it is necessary to increase temperature and pressure within fuel cell stacks. Read more
The summer of discontent: Airline industry struggles with shortage of jet engines and parts
Airlines are facing a shortage of aircraft engines and spare parts, particularly on Airbus and Boeing jets.
This has resulted in airlines around the world having to ground hundreds of airplanes just as they gear up for a busy summer travel season.
Supply-chain constraints were prevalent throughout the industry even before the pandemic, and in its aftermath, engine makers have struggled with a lack of skilled mechanics and component shortages.
This shortage could crimp industry plans to expand the number of flights offered in 2024 and beyond. Read more
Boeing-Leonardo win $285 million contract to begin MH-139A production
Boeing and Leonardo have been awarded a $285 million contract from the US Air Force to begin low-rate initial production of the MH-139A Grey Wolf helicopter.
The deal is part of a larger $2.4 billion contract for up to 84 helicopters, training systems, and support equipment, which was awarded to the Boeing-Leonardo team in September 2018.
The contract covers 13 aircraft, sustainment, and support services, with deliveries set to begin in 2024. The MH-139A is designed to replace the Air Force's aging UH-1N Huey fleet and offers a 50% increase in speed and range and a 5,000-pound increase in maximum gross weight. Read more
Swiss battery maker H55 to build Canadian facility for electric aviation
Swiss battery pack systems manufacturer H55 is set to construct a manufacturing facility in Saint-Hubert, Quebec, with the help of a CAD10m interest-free loan from the Canadian government.
The facility will be completed in 2024 and will produce battery technology for new and existing Canadian customers, including Pratt & Whitney Canada, CAE, and Harbour Air, to support electric aviation initiatives.
H55's core product is the Electric Storage System, which can be sized according to customer requirements and converted existing aircraft.
The company has already partnered with Canadian firms to develop electric conversion kits and hybrid-electric motors for aircraft. Read more
Delta aims for net-zero by 2050 with hydrogen and electric aircraft plan
Delta has published a roadmap outlining its plans to achieve net-zero emissions by 2050, which includes a focus on hydrogen and electric aircraft.
Delta has committed to achieving a 90% reduction in CO2 emissions across all scopes by 2050 and is aiming to become verified under the Science-Based Targets initiative's net-zero standard.
The roadmap outlines Delta's strategy to scale sustainable aviation fuels (SAFs) for 75% of its fleet, with plans to have at least 10% of its fuel use met with SAF by 2030 and 35% by 2035. Read more
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