Weekly Wrap-up Video Update 4/1/16
Here are the top aviation news stories that you may have missed this week. Let us know what you think by commenting below. Be sure to subscribe on Youtube to be the first to get the Weekly Wrap-up Video Updates. Also, if you missed last week’s Wrap-up, you can catch it here.
Boeing to Slash Jobs
Up to 8,000 jobs are planned to be cut from Boeing’s commercial aviation division over the next year. 4,000 of these job cuts could arrive before July. Boeing suggests the decision will keep the company competitive moving. The move is expected to save the company over $1 billion.
Increasing pricing pressure from competitor Airbus coupled with an overall industry slowdown due to stalling in BRIC nation economies has influenced Boeing to readjust. In addition to the force reduction, the company is also reevaluating supplier contracts, overtime and travel expenses.
Falcon 8X Nears Certification
The long anticipated Falcon 8X is nearing the final stages of certification. Dassault’s test aircraft, that have accumulated over 650 flight hours over 325 flights are currently testing performance and operational reliability throughout various continents.
Dassault expects the Falcon 8X to receive EASA certification by June and ultimately begin deliveries this summer. The manufacturer ’s newest trijet has a slightly larger cabin and longer range than the current Falcon 7X. The aircraft is expected to cost roughly $58 million.
ICAO Releases Fatigue Guide
ICAO has released a business aviation fatigue management guide, providing business aviation operators with recommendations for duty and rest scheduling. The intention of the guide is to assist in minimizing accident risk due to fatigue; a significant hazard that remains in the organization’s cross-hairs.
The guide contains contributions from both the National Business Aviation Association (NBAA) and the Flight Safety Foundation (FSF). Doug Carr, NBAA’s vice president of regulatory and international affairs stated, “Three years ago the NBAA Safety Committee identified fatigue as a key safety issue for business aviation and partnered with the Flight Safety Foundation to update its standard-setting guide, which has long served the business aviation industry as a guide to minimizing the risks posed by fatigue.”
Deutsche Bank’s G650 Outlook
We have previously covered how slowdowns in emerging markets have negatively impacted the ultra-long range and large cabin markets. This week, the slowdown translated in Deutsche Bank analysts downgrading General Dynamic’s rating from “buy” to “hold” due to climbing Gulfstream G650 inventory.
According to JetNet, there are currently 19 G650s on the market, 11.5% of the total fleet. The inventory level has essentially created a buyer’s market for Gulfstream’s flagship aircraft. The increased inventory will likely result in decreased selling prices, less orders and possibly cancellations. With these factors in mind, Deutsche Bank also reduced its delivery forecast.
Egyptians and even Cypriot President Nicos Anastasiades seem to have found humor in an otherwise serious situation. This week, an EgyptAir Airbus A320 was hijacked and forced to land in Cyprus by a man looking to speak with his estranged wife. The hijacker wore a fake explosive suicide belt and threated to detonate it if his demands were not met. After a brief standoff, everyone was released unharmed and the hijacker was detained.
After the resolution, many Egyptians turned to social media to vent through satirical humor. Some jokes were aimed directly at the hijacker, while others highlighted hardships faced within the country. During a press conference in Cyprus, a reporter asked Anastasiades to confirm if the incident was indeed over a woman, to which he jokingly replied, “always there is a woman involved.”
5280 Aviation is a Denver based team of aviation experts specializing in aircraft sales and consulting. Weekly, 5280 Aviation brings you a curated list of aviation news stories that you may have missed. We keep our finger on the pulse of the industry so you don’t have to. Visit aircraft-sales.com and learn more about our services and how we will help you.