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SAFRAN EXPANDS WITH $9.1 BILLION ZODIAC AEROSPACE ACQUISITION
Thursday, January 19, 2017
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Source: Zodiac Aerospace


Source: Zodiac Aerospace


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PARIS - Safran said will acquire seats manufacturer Zodiac Aerospace for approximately €8.5 billion ($9.1 billion).

The new entity would combine Safran’s capabilities in landing gear, wheels and brakes, nacelles, power systems, actuation and avionics, with Zodiac Aerospace’s leading positions in seats, cabin interiors, power distribution, lighting, fuel, oxygen and fluid systems and safety equipment.

In electrical systems, Zodiac Aerospace’s assets would reinforce Safran’s portfolio of technologies and position the group ideally for future developments towards the "more electrical aircraft".

On a pro forma basis, the combined group would have annual revenue of €21 billion ($22.4 billion) and operating income of €2.7 billion ($2.9 billion), making it the third largest aerospace supplier behind GE Aviation and United Technologies Corp (with its Pratt & Whitney and UTC Aerospace Systems divisions). The operation would have around 92,000 employees (of which more than 45,000 in France).

The deal expands Safran interests in North America where Zodiac has a large industrial presence. This should help decrease the combined firm's currency exposure in the aerospace industry's dollar denominated market.

"The acquisition of Zodiac Aerospace represents a unique opportunity at this point in Safran’s development, just a few months after initiating the refocus of the group on our core activities of Aerospace and Defense, said Philippe Petitcolin, CEO of Safran . The technological complementarities will ensure that we accelerate domains as strategic as critical systems and the more electrical aircraft, which make up 40 percent of Zodiac Aerospace’s activities. Our industrial expertise will also accelerate the return to their historical levels of profitability in the seats and cabin activities. Finally, and above all, the strength of Safran’s managerial talent and the timing of this transaction will ensure the success of integrating Zodiac Aerospace into our Equipment businesses while Propulsion is focused on the LEAP program."

Zodiac Aerospace is one of two major suppliers of aircraft seats alongside B/E Aerospace, which is currently being acquired by Rockwell Collins. Both of these acquisitions are part of an industry trend in which subcontractors to Airbus and Boeing are bulking operations to better handle the record airliner backlogs at the OEMs.

Once famous for its ubiquitous inflatable boat, Zodiac Aerospace returned to its roots over the past decade. Since spinning off its boat operations in 2007, Zodiac has expanded its aerospace operations through a series of acquisitions.

While the aerospace production boom brought growth to the firm initially, the continual ramp-up in production rates caused problems for the company over the past few years. Late deliveries in seats and cabin components drew sharp criticism from OEMs and airlines. In response, Zodiac scrambled to boost capacity and resolve delivery issues. So far, the company has successfully expanded production lines at its operations in North America and Europe, boosting delivery rates. Safran reportedly agrees that the company is back on track and is not worried about the recent issues.

The transaction now must pass shareholder and regulatory approval, though little resistance is expected due to the complementary nature of the deal. The companies expect to complete the merger in early 2018.

Source:  Forecast International Government & Industry Group
Associated URL: www.zodiacaerospace.com/en/news/group-news/safran-and-zodiac-aerospace-new-global-leader-aerospace
Source Date: January 19, 2017
Author: R. Pettibone, Gov't & Industry  
Posted: 01/19/2017

 
 
EL AL SIGNS STRATEGIC COOPERATIVE AGREEMENT WITH ROLLS-ROYCE
Monday, January 16, 2017
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Source: El Al Israel Airlines


Source: El Al Israel Airlines


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CENTRAL DISTRICT, Israel - Eric Schulz, President Civil Aerospace at Rolls-Royce plc UK, Tami Moses Borowitz, Deputy Chair EL AL and David Maimon, President and CEO EL AL marked the signing of a cooperative agreement for Rolls-Royce maintenance and support services for Trent 1000 engines in EL AL's new Dreamliner Aircraft. The event was held in the presence of David Quarrey, UK Ambassador to Israel.

This is part of EL AL's renewal plan announced by the airline this past October for renewing the wide-body fleet with 15 new Dreamliner aircraft with an option for purchasing 13 additional planes. The aircraft are scheduled for delivery at EL AL as of 2017. EL AL would like to express a special thank you to UK Ambassador to Israel David Quarrey and the British Embassy’s Commercial Department for their great contribution and endeavors that enabled completion of this agreement. Soon after signing the aircraft purchase agreement, EL AL announced that Rolls Royce would supply the engines.

Source:  El Al Israel Airlines
Associated URL: www.elal.com
Source Date: January 16, 2017
Posted: 01/19/2017

 
 
U.S. DEPARTMENT OF TRANSPORTATION ISSUES GUIDANCE DOCUMENTS TO PREVENT AIRLINE DISCRIMINATION
Friday, January 13, 2017
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U.S. Department of Transportation (DoT)

Source: US DOT


U.S. Department of Transportation (DoT)

Source: US DOT


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WASHINGTON - The U.S. Department of Transportation (DoT) issued two guidance documents emphasizing that federal law guarantees all passengers the right to fly free from discrimination. The documents supersede prior non-discrimination guidance issued by the U.S. DoT and were developed in collaboration with representatives of airlines and civil rights organizations.

The first document, Guidance for Airline Personnel on Nondiscrimination in Air Travel, contains example scenarios to help airline employees and contractors understand their legal obligation not to discriminate on the basis of race, color, national origin, religion, sex, or ancestry in air travel. The second document, Passengers’ Right to Fly Free from Discrimination, uses a question-and-answer format to assist the flying public understand their rights when flying on commercial airlines.

In November 2016, the Department began reporting more detailed information about discrimination complaints that it receives in its monthly Air Travel Consumer Report. The report now specifically identifies the numbers of complaints by protected class: race, color, national origin, religion, sex, or ancestry/ethnicity. Prior reports listed only the total number of discrimination-related complaints sent to the U.S. DoT. The enhanced reporting is intended to provide more transparency regarding the number of complaints that the U.S. DoT receives in each of the protected classes.

The U.S. DoT's Office of General Counsel’s investigates all complaints alleging discriminatory treatment by airline personnel and pursues enforcement cases against airlines for unlawful discrimination. Members of the public who feel they have been the subject of discriminatory actions or treatment by airlines may file a complaint with the U.S. DoT at http://airconsumer.dot.gov/escomplaint/ConsumerForm.cfm.

The Guidance for Airline Personnel on Nondiscrimination in Air Travel and Passengers’ Right to Fly Free from Discrimination are available at https://www.transportation.gov/airconsumer/latest-news.

Source:  U.S. DoT
Associated URL: https://www.transportation.gov/briefing-room/dot1317
Source Date: January 13, 2017
Author: U.S. DoT 
Posted: 01/19/2017

 

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