NEWS
Are Covid vaccines going to resume international travel?
It has been a year since the first reported case of Covid19 and resent news of vaccines progress has brought up positive outlook on upcoming months. Some of the major Pharmaceutical companies such as Pfizer and AstraZeneca among others, have announced major break-throughs in their developments. These news bring a lot of joy for many
Read MoreCiting pandemic uncertainty, Air New Zealand delays proposed capital raise
Air New Zealand has postponed a planned capital raise by three months, to give it more time “to assess market conditions” amid the coronavirus pandemic. The carrier now expects to complete its equity capital raise by 30 September, instead of 30 June, as earlier indicated. The New Zealand government, which earlier disclosed its commitment to
Read MoreBombardier to stop the production of Learjet by end of 2021
Struck by heavy financial losses, Canadian Bombardier announced this Thursday that it will discontinue the production of the iconic Learjet models. This would result in cutting off 1,600 jobs. After struggling prior to the pandemic, Bombardier is facing a transitional year and attempting to restructure the company. After announcing severe lay offs in November last
Read MoreTrans States Airlines Will Shut Down By The End Of 2020
CEO cites pilot shortage as one of the airline’s problems. The 350 pilots and other employees of St. Louis-based Trans States Airlines have been on the edge of their seats following announcements last year, such as the cancellation of the company’s order for 50 Mitsubishi regional jets because of scope-clause concerns, or that sister company
Read MoreRobinson Sees Softening, Then Rebound in Sales
While 2019 sales went down, 2020 is off to a strong start. Despite steady sales in the last part of 2019 and into 2020, total deliveries at Robinson Helicopter Company fell to 196 units for the year. This is a decline from 2018 and 2017 sales, which showed strong growth in 2017 and remained there
Read MoreLosses Increase for Embraer as EU Halts Boeing Deal Review
The Brazilian company reports $77M net loss in earnings call. In an earnings call this week, Embraer (NYSE:ERJ) reported a 3Q19 net loss of $77.2 million, results that were impacted by separation costs of $34.8 million related to the carve out of their commercial aviation business in a deal with Boeing. Embraer reported an adjusted
Read MoreTextron Aviation’s Flagship Longitude Receives FAA Type Certification
The Longitude received the most robust testing of a Cessna Citation to date. Textron Aviation, parent company of Cessna Aircraft, said yesterday that its new super-midsize business jet, the Citation Longitude, has received its type certification from the FAA. Agency type certification paves the way for deliveries of the new airplane to begin. The Longitude’s
Read MoreCarlyle Group completes €1 billion purchase of aerospace manufacturing firm
Global investment firm The Carlyle Group has completed the acquisition of Forgital, for approximately €1 billion. Forgital is an Italian-based manufacturing company producing large forged and machined components for use in the aerospace and industrial sector. Equity for the transaction will come from Carlyle Europe Partners V, a European-focused upper-mid market buyout fund and Carlyle Partners VII, a
Read MoreBoeing signs near $1 billion contract with US Air Force
Boeing has signed a new contract with the US Air Force (USAF) worth $999 million to maintain A-10 Thunderbolt II sustainment work under an Indefinite Delivery/Indefinite Quantity (IDIQ) contract award. The contract will cover the production of a maximum of 112 wing sets and spare kits. The USAF ordered 27 wing sets immediately at contract
Read MoreGulfstream Delivers First G600
The initial U.S. customer delivery marks a milestone for the jet. Gulfstream Aerospace delivered its first G600 business jet to a U.S. customer from its facility in Savannah, Georgia, on August 8, 2019. The initial delivery marks an important milestone for the program, just one month after the FAA granted the aircraft’s type and production
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