Market Intelligence: Far East & China

Global Aircraft Manufacturer, Boeing, Announces 2024 Appointment for President and CEO

Boeing announced that its Board of Directors has elected Robert K. “Kelly” Ortberg as the company’s new president and chief executive officer, effective August 8, 2024. Ortberg will also serve on Boeing’s Board of Directors.

He will succeed Dave Calhoun, who earlier this year announced his intention to retire from the company, having served as president and CEO since January 2020, and as a member of Boeing’s Board of Directors since 2009.

“The Board conducted a thorough and extensive search process over the last several months to select the next CEO of Boeing and Kelly has the right skills and experience to lead Boeing in its next chapter,” said Steven Mollenkopf, Chair of the Board. “Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies. We look forward to working with him as he leads Boeing through this consequential period in its long history.”

“The Board would also like to thank Dave Calhoun for his strong leadership at Boeing, first as Chair and then as CEO, when he stepped in to steer the company through the challenges of recent years,” added Mollenkopf.

“I’m extremely honored and humbled to join this iconic company,” said Ortberg. “Boeing has a tremendous and rich history as a leader and pioneer in our industry, and I’m committed to working together with the more than 170,000 dedicated employees of the company to continue that tradition, with safety and quality at the forefront. There is much work to be done, and I’m looking forward to getting started.”

Ortberg, 64, brings over 35 years of aerospace leadership to this position. He began his career in 1983 as an engineer at Texas Instruments, and then joined Rockwell Collins in 1987 as a program manager and held increasingly important leadership positions at the company prior to becoming its president and CEO in 2013. After five years leading Rockwell Collins, he steered the company’s integration with United Technologies and RTX until his retirement from RTX in 2021. He has held a number of important leadership posts in industry, including serving on the Board of Directors of RTX. Additionally, he serves on the Board of Directors of Aptiv PLC, a global technology company and an industry leader in vehicle systems architecture. He is the former Chair of the Aerospace Industries Association (AIA) Board of Governors.

Ortberg holds a bachelor’s degree in mechanical engineering from the University of Iowa.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company’s core values of safety, quality and integrity.

Source: Boeing
Photo Credit: Boeing

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Flight School Management Software Flight Schedule Pro to Unveil Enhanced Platform in August 2024

United States headquartered Flight Schedule Pro, a major provider of flight school management software, will introduce its new Next Gen suite on August 13, 2024. The platform aims to advance flight school operations with features such as smart scheduling, enhanced tracking of student graduation progress, and automated billing.

Flight Schedule Pro says a key priority for the company is enhancing aircraft utilization as it’s a major operational challenge for flight schools today. According to the provider, by refining scheduling and maximizing the use of existing aircraft, schools can boost their training capacity without the high costs of adding more aircraft—leading to greater profitability and quicker student progression.

Nick Wegner, CEO of Flight Schedule Pro, underscored the importance of the Next Gen suite of tools stating, “Next Gen Flight Schedule Pro is a critical step in flight school management technology. Our customers serve not only their students but also global airlines who are combatting the pilot shortage. NextGen capabilities maximize aircraft utilization, streamline student progress tracking, and automate billing and operations to strengthen the relationship between flight schools, their students, and the airlines.”

The Next Gen features of Flight Schedule Pro will be available to all Suite subscribers, while Billing Autopilot will be available to users with FSP’s Preferred Merchant Account.

Source: Flight Schedule Pro
Photo Credit: Flight Schedule Pro (shown as meta image)

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Global Pilot Training Solution Provider, CAE, Announces 2024 Chief Financial Officer Transition

Montreal, Canada – CAE Inc. (CAE or the Company) announced that Sonya Branco, Executive Vice President, Finance and Chief Financial Officer (“CFO”), has advised the company of her intention to step down from her position at the end of August to pursue interests outside of CAE. As part of CAE’s succession plan, Constantino Malatesta, Chief Accounting Officer and Vice-President, Controller Office, will become interim CFO following Ms. Branco’s departure. A process is underway to identify and select a permanent CFO, and Ms. Branco will continue in a support capacity to ensure a seamless transition.

Ms. Branco has been CAE’s Executive Vice President, Finance and CFO since 2016. She joined CAE in 2008 and was appointed to the role of Vice President and Corporate Controller in 2011.

During her tenure, Ms. Branco was instrumental in the transformation of CAE into the world’s largest civil aviation training provider, which — combined with Defense & Security — makes CAE a company with highly recurring sources of revenue and cash flow. She presided over a period of significant expansion involving more than 20 acquisitions and their integration. Ms. Branco also planned and executed a capital allocation strategy, balancing accretive growth with maintaining a strong financial position and investment grade profile that allowed CAE to successfully navigate the COVID pandemic and beyond.

“On behalf of myself, CAE’s Board of Directors, and the entire executive management team, I wish to express my sincere appreciation to Sonya for her numerous contributions to CAE’s success over the last 17 years,” said Marc Parent, President and Chief Executive Officer. “Sonya led CAE’s finance organization through a period of significant growth and reached many important milestones. We have benefitted greatly from Sonya’s stewardship, her insightful mentorship of her colleagues, and her deep commitment to the Company. We wish Sonya the very best in her future endeavours.”

Added Mr. Parent, “Constantino has worked closely with Sonya for many years, and he has a deep knowledge of CAE’s business and an extensive background in finance that will provide continuity and stability at CAE. I have full confidence in Constantino’s ability to oversee the Company’s financial operations and strategy as we move forward with our selection process for the permanent CFO role, for which we will consider both internal and external candidates.”

Mr. Malatesta was appointed CAE’s Chief Accounting Officer and Vice-President, Controller Office, in 2022. Before that he was Vice President, Finance and Corporate Controller (2016-2022), Global Head of Finance, CAE Oxford Aviation Academy (2014-2016), and Director, Finance and Assistant Corporate Controller (2011-2014). He joined CAE in 2006 as Manager, Accounting Standards. Mr. Malatesta is a Chartered Professional Accountant and U.S. Certified Public Accountant. He obtained a Bachelor of Commerce Degree and a Graduate Diploma in Accounting from Concordia University in Montreal.

About CAE

At CAE, we equip people in critical roles with the expertise and solutions to create a safer world. As a technology company, we digitalize the physical world, deploying software-based simulation training and critical operations support solutions. Above all else, we empower pilots, cabin crew, maintenance technicians, airlines, business aviation operators, and defence and security forces to perform at their best every day and when the stakes are the highest. Around the globe, we’re everywhere customers need us to be with approximately 13,000 employees in more than 240 sites and training locations in over 40 countries. CAE represents more than 75 years of industry firsts—the highest-fidelity flight and mission simulators as well as training programs powered by digital technologies. We embed sustainability in everything we do. Today and tomorrow, we’ll make sure our customers are ready for the moments that matter.

Source: CAE
Photo Credit: CAE

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Global Aircraft Manufacturer, Boeing, Releases Commercial Market Outlook for 2024–2043

Global aircraft manufacturer Boeing released the following latest Commercial Market Outlook 2024-2043.

Boeing’s latest Commercial Market Outlook projects a robust demand for 43,975 new airplanes over the next 20 years, reflecting a 3% increase in deliveries compared to the previous year’s forecast. The report highlights the significant growth driven by emerging markets and a strong demand for single-aisle aircraft.

  • Boeing anticipates a 3% increase in airplane deliveries by 2043, with a total of 43,975 new units expected.
  • Much of the growth is attributed to emerging markets and the rising demand for single-aisle airplanes.
  • The global passenger and freighter fleet is expected to nearly double over the next two decades.

“As commercial aviation enters the second half of 2024, passenger and air cargo traffic are surpassing 2019 levels, highlighting the industry’s resilience over the last several decades. In the long-term, both market segments are forecast to continue to outpace economic growth. Consumers are prioritizing travel in an increasingly connected world, aviation development is accelerating in emerging markets, and supply chain and e-commerce growth are supporting air cargo demand.

Like air traffic, airlines have also shown resilience. The global airline network is back to 2019 levels and has adapted to new market trends. Route competition remains high. Plus, airlines are managing fleets and boosting productivity to remain profitable in a dynamic global environment.

The 2024 Commercial Market Outlook’s fleet and delivery forecasts remain steady as industry dynamics are largely playing out along the path Boeing anticipated in 2020. There is pent-up demand to replace ageing fleets where retirements have been delayed. Innovation and emerging markets are once again driving fleet growth. Also, a focus on sustainability across the industry is improving efficiency in all facets of airline operations.”

Contact us to receive a copy of the Boeing Commercial Market Outlook 2024-2043.

Source: Boeing
Photo Credit: Boeing

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Piper Aircraft 2024 YTD Performance Up – On Track for Record, Full Year Deliveries Approaching 300 Aircraft

United States headquartered training aircraft manufacturer Piper Aircraft sustained solid new aircraft deliveries and revenue performance throughout the first half of 2024. Reflecting a strong global demand, Piper is on track to deliver approximately 300 aircraft this year, a 22% increase from the previous year.

Deliveries in the first half of 2024 increased by 16% compared to the same period in 2023. Despite a marginal dip in Q1 2024, attributable to the launch and late Q1 FAA certification of Piper’s new flagship M700 FURY, the second quarter saw deliveries rise by 30% and revenue by nearly 9%.

Among the approximately 300 aircraft scheduled for this year, Piper is set to deliver nearly 50 of its new M700 FURY aircraft, with international validations and certifications expected to further boost deliveries in the second half of the year.

“Our trainer and M-Class markets remain robust and we are pleased with our delivery performance this year and the positive reception from our customers with the launch of the M700 FURY,” said Ron Gunnarson, VP of Marketing, Sales & Customer Support at Piper Aircraft. “Our dealer and factory team’s dedication to excellence and our focus on customer satisfaction have been key drivers of our success.”

As Piper Aircraft continues to expand its operations and product offerings, it remains committed to delivering exceptional value and performance to its customers worldwide.

About Piper Aircraft
Piper Aircraft Inc., headquartered in Vero Beach, Fl., offers aviators throughout the world efficient and reliable single and twin-engine aircraft and is the first general aviation aircraft manufacturer in the world to certify Garmin® Emergency Autoland. The single-engine M-Class series – the M700 FURY, M500, and M350 – offers businesses and individuals elegant performance, value and a superior ownership experience. The Personal Class Archer LX and Archer DLX balance proven performance, efficiency, and simplicity in a piston-powered aircraft. The Trainer Class Pilot 100i, Archer TX, Archer DX, and Seminole aircraft form the most complete technically advanced line of pilot training aircraft in the world. Piper is a member of the General Aviation Manufacturers Association. To learn more about Piper Aircraft, visit the company’s website at www.piper.com.

About the Piper M700 FURY
The Piper M700 FURY™ certified in March of 2024 and comes standard with the HALO Safety System, featuring Garmin Emergency Autoland. This revolutionary system includes digital technology that safely lands the aircraft at the nearest 2 suitable airport in the event that the pilot is incapacitated. Additionally, the M700 FURY G3000® avionics suite includes; Autothrottle, Emergency Descent Mode, Electronic Stability Protection (ESP™), SurfaceWatch™, SafeTaxi®, and Garmin PlaneSync™, all of which are designed to enhance safe operation of the aircraft. Beyond the flight deck, the six-seat M700 FURY is powered by a Pratt & Whitney PT6A-52 700 SHP engine. The aircraft has a maximum cruise speed of 301ktas/557 km/hr, a max range of 1852 nm/3,430 km, and a standard useful load of 2,320 lbs/1,052 kg.

Source: Piper Aircraft
Photo Credit: Piper Aircraft

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