There is optimism at Boeing that its beleaguered 737 MAX may obtain its certification of airworthiness by November and enter back into service by the end of the year. The Federal Aviation Administration (FAA) is due to conduct an evaluation flight this week, with Chief Steve Dickson at the controls. Previously a commercial pilot, Dickson
Rolls-Royce’s aerospace division has announced the completion of ground testing for the U.K.-government-backed ACCEL program – ACCEL being short for ‘Accelerating the Electrification of Flight – for its 500hp electric powertrain ‘ionBird’. The engine will be used early next year in an attempt to break world speed records in its ‘Spirit of Innovation’ plane which
Talking on French radio station RTL, Guillaume Faury, CEO of Europe’s Airbus, the world’s largest commercial plane manufacturer, confirmed that the company cannot guarantee there will be no compulsory redundancies as it struggles to deal with the fallout from a continuation of the global pandemic. As many airlines are only operating at a fraction of
LCI, a leading helicopter lessor and the aviation division of the Libra Group, and Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) have agreed to establish and operate a joint venture helicopter leasing business. The vehicle has launched with the initial acquisition of 19 next-generation helicopters with a value of US$230 million. SMFL and LCI
The resurgence of the coronavirus across parts of Europe has further hit airlines as long-haul routes and business travel remain stagnant. Germany’s Lufthansa has been particularly hard hit through its particular reliance on demand for Asian flights and now anticipates operating at between 20% and 30% capacity for the fourth quarter of the year. As
Rolls-Royce, the British jet engine manufacturer, has announced its intention to raise approximately £2.5 billion in an attempt to strengthen its balance sheet as the continued effects of the COVID-19 pandemic affect demand both for jet engines and ancillary services. One of the options being considered by the company is a rights issue, though debt
Atlanta-based Delta Air Lines (Delta) has announced it is to raise US$9.0 billion, up from a previous estimate of US$6.5 billion, through a series of bonds and loans which will be backed by its SkyMiles loyalty program. The carrier is currently burning through US$27 million on a daily basis and the capital is being raised
US congressional investigators have released a 239-page report on the 737-MAX crashes where it identifies both Boeing Co (Boeing) and the Federal Aviation Administration (FAA) for “repeated and serious failures”, together with a culture of “concealment” instigated by Boeing to withhold important information from the FAA. The report identified Boeing’s sense of urgency to launch
EasyJet’s Chief Executive, Johan Lundgren, has demanded European governments focus on developing coherent air travel policies as opposed to shielding national carriers as carriers struggle to deal with the effects of the COVID-19 pandemic. Lundgren was quite blunt in his criticism of varying restrictions and quarantine measures which he felt had contributed to the slump
Lima Airport Partners (LAP), which has been part of the Fraport Group since 2001, has signed a US$450 million financing agreement for its airside development program at Jorge Chávez International Airport in Lima, Peru. KfW IPEX-Bank, the Bank of Nova Scotia, Sumitomo Mitsui Banking Corporation, and Banco Bilbao Vizcaya Argentaria – are providing the loan.
