As a result of a petition from an unnamed creditor, the Hainan High People’s Court has initiated bankruptcy reorganisation proceedings against HNA Group. “On January 29, 2021, HNA Group received a formal notice from the Hainan High People’s Court,” the holding said in a statement. “The main content of the notice is: a creditor has
Lilium, an aviation company developing an all-electric, vertical take-off and landing (eVTOL) jet aircraft, and Ferrovial, a global leading infrastructure operator, have signed a framework agreement for the creation of a minimum ten-vertiport network covering locations across Florida. Vertiports provide infrastructure for landing and taking off with passengers, plus recharging as part of an alternative,
Boeing has released its fourth-quarter and full-year 2020 financial results, which do not make good reading. The company reported fourth-quarter revenue of US$15.3 billion, reflecting lower commercial deliveries and services volume primarily due to COVID-19 as well as 787 production issues, partially offset by a lower 737 MAX customer considerations charge in the quarter compared
Boston-based industrial conglomerate General Electric (GE) has predicted free cash flow of US$2.5 billion to US$4.5 billion this year after generating cash flow of US$4.4 billion in the fourth quarter. These figures indicate that GE’s Chief Executive Larry Culp’s 2018 turnaround plans are gathering steam, having helped drive cash savings and rendering GE’s businesses more
Pratt & Whitney and Frontier Airlines have announced the selection of Pratt & Whitney GTF engines to power 134 Airbus A320neo Family aircraft. The engines will power 49 A320neos, 67 A321neos and 18 A321XLR aircraft, with the first of these aircraft currently scheduled for delivery in 2022. Pratt & Whitney will also provide Frontier with
Airbus has been forced to quarantine 500 of its 12,000-strong workforce at its Hamburg-Finkenwerder, Germany site after 21 individuals tested positive for the COVID-19 coronavirus. As of yet it is not known if this is an outbreak of the more virulent variant that has been spreading rapidly throughout Europe from the U.K. These members of
While Airbus continues to increase the monthly production numbers for the narrow-body A320 jet, it will be at a reduced level to that previously anticipated. Currently, the European planemaker is producing 40 units per month and this will increase to 43 in the third-quarter 2021, and 45 in the final quarter, both down on the
EmbraerX-graduated company Eve is to lead a consortium of aviation companies to work on a concept of operations for integrating air taxis and electric vertical take-off and landing vehicles (eVTOLs) into the U.K. airspace. The consortium will work with the U.K. Civil Aviation Authority (CAA) in what will be part of Eve’s Future Air Mobility
The International Air Transport Association (IATA) is encouraging member EU states to get behind a proposal from Greek Prime Minister Kyriakos Mitsotakis for the creation of a COVID-19 passport for those who have been vaccinated against the coronavirus, enabling them to travel throughout Europe without having to be repeatedly tested for COVID-19. On the back
International Airlines Group (IAG) and Globalia have amended the original agreement announced on November 4, 2019 (the Original Agreement) under which IAG’s subsidiary Iberia has agreed to acquire the entire issued share capital of Air Europa (the Amendment Agreement). Under the terms of the Amendment Agreement, the parties have agreed that the amount to be
