PYX Resources: Achieving volume and diversification milestones. Watch the video here.
There are almost 600 Rolls-Royce Trent family engines in China, including 150 Trent XWBs for the Airbus A350 and about 380 Trent 700s for the A330.
Those 600 engines represent roughly a 50% market share of widebody engines in China, which compares very favorably the Trent’s 10% share in the USA and even its 40% share in Europe.
Furthermore, Rolls-Royce looks likely to maintain its position in China, with Aviation Wee predicting it will deliver 90 new engines to the country over the next five years, versus 86 from rival GE.
Equally important is the large fleet of older Trent 700s in the country, many of which are serviced under the most profitable time and material contracts.
Aviation Week predicts that Chinese airlines will generate about 1,000 Trent 700 overhaul events over the next 10 years, with total maintenance demand for the engine in the country peaking at $1.6 billion in 2027.
https://aviationweek.com/mro/aircraft-propulsion/rolls-royce-uniquely-positioned-china-rebound
Although there has been no official information on when China will open its borders, we predict that China may open up in 2023, more likely in the second quarter, according to some signals:
1. Domestic anti-epidemic measures are being adjusted and optimized. Health codes and negative nucleic acid test results are not required for domestic travel (from December 7, 2022).
2. The length of entry quarantine has been shortening: from 14-day central quarantine to 7 days to 5 days currently [December 2022].
3. Entry requirements have been simplified: the requirement for a PU letter for work visas is no longer in force, and student visas and family reunion visas are now being processed again.
4. The pre-flight requirements of 7-day self-administered health monitoring and multiple PCR tests before boarding have been simplified to just one PCR test within 48 hours before departure.
5. Flight options have also been changed from not allowing transfers to multiple stops permitted. The flight circuit-breaker mechanism (temporarily banning flights with too many COVID cases) has also been canceled.
6. The government is developing and optimizing its medical preparation — expanding stocks of COVID medicines, optimizing medical procedures, improving vaccination rates for the elderly and children, etc.
https://www.diariovasco.com/economia/gobierno-autoriza-venta-itp-aero-bain-20220801233056-nt.html
The nucleus of Spanish investors that will accompany Sapa and JB Capital, of which the Basque Executive will form part, still remains to be formed.
The belated council of ministers this Monday gave the green light to the sale of 100% of ITP Aearo to the US investment fund Bain Capital, which will pay its current owner, the British multinational Rolls Royce, the 1,700 million already agreed last year. Through this agreement, according to the Ministry of Defense, "the conditions of special protection of the industrial and defense interests of this operation are established."
This authorization by the Government was a necessary and essential procedure, since ITP Aero (manufacturer of aviation engines for the civil and military industries) is one of the companies classified as strategic. Since March 2020, in the midst of a pandemic, the council of ministers must authorize the takeover of any Spanish company considered essential by an investor from outside the EU.
In a statement released at the last minute, the Ministry of Defense highlights that Bain Capital "has been expressing its commitment to a robust industrial project" since the beginning of talks on the sale of Rolls Royce shares. "It will help the ITP Group to become not only a European defense leader, but also a global defense leader," says the text, which highlights that the agreement offers "guarantees in the field of programs of national interest and European Union for location, maintenance of employment and the registered office».
Bain has already agreed (it was a government requirement) to transfer 30% to Spanish partners. Sapa Placencia (which has a 5% expandable) and JB Capital (with the same percentage) will be safe in that percentage. The Basque Government (which negotiates 5% and a director) and, predictably, Indra could join that group.
The note ends by stating that the agreement represents "the beginning of a new stage that guarantees the future and offers stability to ITP Aero". Thus, the company hopes to further accelerate its growth trajectory and the expansion of its industrial and technological capabilities.
BEDSIT!? ....Luxury!!
He's lucky to live in a Bedsit!
We used to live in one room, all twenty-six of us, no furniture, 'alf the floor was missing, and we were all 'uddled together in one corner for fear of falling!!
United is expected to take upwards of 150 of Boeing 737 Max jetliners and more than 50 Airbus A321neos, they said. The deal will be showcased during investor and media events scheduled for Tuesday by the Chicago-based carrier
Anyone know if it is the same config as the American Airlines single-aisle plane in a 16-business, 166-economy seat configuration, powered by two Rolls-Royce RB211 engines.
https://www.bloomberg.com/news/articles/2021-06-26/united-air-seen-finalizing-its-largest-ever-narrow-body-jet-deal
Every stakeholder has nuanced needs, politicians have to speak to local job concerns. This deal will require US funding plus domestic Spanish job reassurances. RR have to follow through on restructure and recalibrate balance sheet. RR Investors want debt reduced in line with wider refinancing plan.
June and July herald milestones for RR recovery.
A year today this will have been a prime entry point!
Best Buy Window is here fill boots time!
https://actualidadaeroespacial.com/el-gobierno-vasco-dispuesto-a-entrar-en-la-puja-por-itp-aero/
LSE is a great board perhaps Could we also contribute to RR discussion on Reddit?
https://www.reddit.com/r/Rollsroycestock/comments/nvcowh/rolls_royce_was_12_now_160_is_this_the_value/
US travel rebounds New Boeing Orders
https://www.bloomberg.com/news/articles/2021-06-08/southwest-air-adds-to-boeing-max-7-order-as-u-s-travel-rebounds?srnd=premium-europe
Is this a Positive indicator 12,312,485 £14m buy @ 16:35 ?
Am I making a mistake, ie that single purchase is a third of todays total transaction volume 45,126,750 ?
The Days Volume is listed here on Yahoo https://finance.yahoo.com/quote/RR.L/
EU governments lift ban on most non-essential travel to bloc from USA.
https://www.bloomberg.com/news/articles/2021-05-19/europe-opens-door-to-vaccinated-americans-with-new-travel-rules
According to a U.S. diplomatic cable obtained by the PBS NewsHour, Robert Courts, Parliament's Under Secretary of State at the Department of Transport said...
London and New York should establish an "airbridge" through which transatlantic travel can be resumed, an idea the airline industry has proposed. He also said he anticipated Johnson would raise the idea, as well urge the lifting of restrictions, with Biden when they meet on the margins of the G7 Summit in Cornwall, England in early June,
https://www.pbs.org/newshour/world/uk-urges-biden-to-drop-coronavirus-air-travel-restrictions
New flight booking data from shows a significant recovery for long-haul travel from the US to the Middle East and Africa. In the week commencing 12 April, these regional markets had reached 70.1% and 78.1% of 2019 levels respectively for flight bookings for June to August this year.
https://www.moodiedavittreport.com/us-flight-bookings-to-middle-east-and-africa-rebound-reports-forwardkeys/
Lufthansa sees surge in demand for transatlantic, Europe flights
https://www.reuters.com/business/aerospace-defense/lufthansa-sees-surge-demand-transatlantic-europe-flights-2021-05-18/