30 July 2021

U.K.’s MOD awards £250 million contract for Tempest FCAS program

Military & Defense, Top Stories

The U.K.’s Ministry of Defence (MOD) has awarded a £250 million (US$350 million) for the Tempest program which will deliver the military, industrial and economic requirements of Britain’s Future Air Combat System (FCAS), marking the official start of the program’s concept and assessment phase. The concept and assessment phase contract will see the partners develop …

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American Airlines to take minority ownership in JetSmart

Financial

American Airlines and JetSMART, an ultra-low-cost carrier with principal operations in Chile and Argentina, have signed a letter of intent to create a broad network and a rewarding customer offering in the Americas. This proposed partnership would uniquely tie together the full-service, global presence of American with the complementary network of JetSMART in South America …

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GECAS’ 737-800 converted freighter fleet climbing to over 40

Aircraft & Engines

GECAS has contracted to add six 737-800BCFs to its in-service fleet, bringing the GECAS fleet of passenger-to-freighter (P2F) converted 737-800NG narrow-body freighters in operation to more than 40, an average of one aircraft added per month since the first-ever 737-800NG converted freighter was delivered in April 2018. Two of the aircraft will be added to …

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MTU expects full-year 2021 revenue to be higher than predicted

Uncategorized

In the first six months of 2021, MTU Aero Engines AG generated revenue of €2,004 million; in the first half of 2020, revenue was €2,049 million. The operating profitwas €190 million (1-6/2020: €224 million) and the adjusted EBIT margin was 9.5% (1-6/2020: 10.9%). Net income developed in line with operating profit and was €135 million, …

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Air Cargo posts strongest first half-hear growth since 2017

Other News

The International Air Transport Association (IATA) released data for global air cargo markets for June showing a 9.9% improvement on pre-COVID-19 performance (June 2019). This pushed first half-year air cargo growth to 8%, its strongest first half performance since 2017 (when the industry posted 10.2% year-on-year growth).Global demand for June 2021, measured in cargo ton-kilometers …

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Boeing donates €500,000 to assist Red Cross flood relief efforts in Germany

Other News

Boeing has announced a €500,000 donation from the Boeing Charitable Trust to the American Red Cross to assist with flood relief efforts in Germany. Funds will be deployed by the German Red Cross to provide emergency power, distribute emergency relief supplies, improve communication infrastructure and mobilize medical care, first aid and rescue services to the …

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VSE Corporation acquires Global Parts Group

Uncategorized

VSE Corporation, a leading provider of aftermarket distribution and maintenance, repair, and overhaul (MRO) services for land, sea and air transportation assets for government and commercial markets, has acquired privately held Global Parts Group (Global Parts) in an all-cash transaction valued at approximately US$38 million, subject to customary working capital adjustments. Global Parts is a …

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