Volocopter, the urban air mobility specialist has announced a successful signing of its Series D funding round, raising an additional US$240 million and taking the total raised to US$390 million. This fresh injection of funds will allow the company to maintain its leading role as an urban air mobility (UAM) company through its VoloCity battery-powered
China’s Civil Aviation Administration (CAAC) remains one of the last major markets to withhold re-certification of the Boeing 737 MAX, with no clear indication being given of any anticipated timeline for the troubled jet to return to its skies. China was one of the first countries to ground the 737 MAX after two fatal crashes,
In a boost to its defense business in the U.S. market, the aviation training specialist CAE Inc (CAE) has agreed to buy L3Harris Technologies’ (L3Harris) military training division. It is expected the deal will augment the development of training systems for remotely piloted aircraft, submarines, fighter and bomber aircraft; the company is currently a major
Having secured bankruptcy protection in both Norway and Ireland in 2020, low-cost carrier Norwegian Air (Norwegian) has taken a NEK12.8 billion (US$1.5 billion) charge and cancelled its current order of 88 narrow-body Airbus jets. Last year Norwegian cancelled its remaining orders for 97 aircraft with Boeing, while also seeking compensation from the planemaker for the
Australia’s Civil Aviation Safety Authority (CASA) has lifted the temporary suspension on Boeing 737 MAX aircraft operating to or from Australia. While no Australian airlines currently operate the Boeing 737 MAX, two foreign airlines flew these aircraft types to Australia before the COVID-19 pandemic – Singapore-based SilkAir (now Singapore Airlines) and Fiji Airways. Both the
Atlas Air Worldwide Holdings has signed an agreement with GE Aviation to purchase GEnx-2B engines for its four Boeing 747-8 Freighters along with a 20-year TrueChoice Overhaul agreement, which covers the time and material required to overhaul the GEnx-2B engines. The agreements are valued at more than US$800 million at list price over the life
Spirit AeroSystems Holdings (Spirit) has reported worse-than-expected results for its fourth-quarter 2020 operations, notably a 55% drop in revenue compared to the same quarter in 2019. The drop in revenue is a result of Boeing, one of its largest customers, struggling with the grounding of the 737 MAX and downturn in demand for new aircraft
After an incident over Denver at the weekend where one of the Pratt & Whitney engines on a Boeing 777 caught fire, the U.K has banned all other 777s with this engine type from entering its airspace. In turn, Boeing has advised all airlines which operate this older model of aircraft, the 777-200 and 777-300,
The U.S. Federal Aviation Administration (FAA) has announced that from January 29 this year, it has been monitoring the flights of all Boeing’s 737 MAX jets using data supplied by Aireon LLC, a traffic surveillance company. In November 2020, both Aireon and L3Harris Technologies announced a new partnership with the FAA which gave the FAA
Brazil, home to the world’s third-largest commercial plane manufacturer, has decided not to pursue its complaint against Canada over what it saw as unfair subsidies paid to rival manufacturer Bombardier. At the time of the initial complaint, Bombardier was producing the CSeries of jets, a direct competitor for Embraer’s own ERJ series. That situation changed
