Reporting cash outflow of US$2.1 billion from its industrial operations – well below an anticipated US$3.5 billion – US$4.5 billion, shares in the Boston, U.S.-based conglomerate fell 5%. The aviation unit of the company, which is usually the most profitable, was hardest hit in terms of sales and orders. This unit, which makes engines for
The effects of the COVID-19 pandemic have continued to hit the world’s second-largest planemaker to the point where it is now further revising output schedules. Growing hostilities between the U.S. and China have now seen the latter shelve plans to purchase larger jets from the U.S., which has caused further problems for Boeing. The 777X
A Ukrainian delegation is to visit the Ukraine on Wednesday and Thursday of this week to discuss the matter of compensation in relation to the downing of a Ukrainian passenger jet at the beginning of the year. It was at 06.12 local time on January 8 this year that Ukraine International Airlines Flight 752 took
Shares in Ryanair tumbled 8% as a consequence of Europe’s largest low-cost carrier announcing that it has reviewed its annual passenger target downwards by 25%, despite the figures for the lockdown quarter of April-June coming through at better-than-expected levels. Having cut 99% of its capacity as a consequence of the COVID-19 pandemic, the carrier posted
The U.S. Federal Aviation Administration (FAA) has issued an emergency airworthiness directive relating to potential corrosion problems on parked-up Boeing 737 NG and Classic jets that could lead to catastrophic dual-engine failure if not immediately addressed. The problems involve approximately 2,000 of the 737 variants which have been parked up as consequence of the devastating
Having already laid off thousands of its workforce, Spirit AeroSystems (Spirit), which makes the fuselage for the troubled Boeing 737 MAX, is in discussions with lenders over loosening debt terms. Kansas-based Spirit had already been asked by Boeing to cut back on production owing to further knock-on effects of the COVID-19 pandemic, resulting in what
Bombardier, the Canadian plane and train maker, has secured a US$1 billion secured loan, indicating that the company will now have sufficient liquidity to see it through the worst of the COVID-19 pandemic. Having severely revised its 2020 forecast, Bombardier has now begun to announce job cuts as the market for high-profit-margin jets falls, with
Qantas will mark the end of an era with the departure of the national carrier’s last Boeing 747 jumbo jet on July 22. The final 747-400 in the fleet (registration VH-OEJ) departed Sydney at 2pm as flight number QF7474, bringing to an end five decades of history-making moments for the national carrier and aviation in
ATP, the USA’s leading flight school, has taken delivery of six new Piper Archer TXs, taking its predominantly Archer-manufactured training aircraft to a fleet total of 412. In addition, the company has renewed an order for an additional 100 Piper aircraft. While the airline industry currently battles against the ravages of the COVID-19 pandemic, the
After many months of negotiations with Icelandic Cabin Crew Association (Flugfreyjufelag Islands/FFI) and the signing of a five-year deal aimed at “increasing productivity and flexibility”, ten days ago, Icelandair cabin crew voted 73:27 to reject the proposals. Iceland’s flag-carrying airline had successfully negotiated similar deals with the pilots’ and engineers’ unions. Because negotiations had broken
