Utilizing the company’s existing technology, software, services and certification Expertise, Honeywell has decided to form a new business unit which will be dedicated to both the Unmanned Aerial Systems (UASs) and Urban Air Mobility (UAM) industries. “Urban Air Mobility and Unmanned Aerial Systems will play an increasing role in the future of aerospace, with potential
The Swedish Government has put forward a proposal to the Swedish Parliament to support SAS AB with up to SEK 5 billion as part of the company’s necessary recapitalization plan due to the negative effects of COVID-19. In addition, the Danish government has communicated political unity for a recapitalization of SAS. The company estimates that
Despite agreeing a US$10 billion bailout plan which would give a German government stabilization fund a 20% stake in the beleaguered carrier, Lufthansa has confirmed that continued pandemic-related reductions in worldwide travel demand may lead to the shedding of up to 22,000 of its 135,9000 full-time staff. The flag-carrying airline, which also includes Swiss, Australian
Airflow, an aerial logistics company building next-generation aircraft and services, is developing the first electric Short-Take-Off and Landing (eSTOL) aircraft designed for middle-mile logistics. Airflow’s aerial logistics network can move short-haul cargo quickly and cost-effectively over road traffic by utilizing the unused airspace around cities. Five former Airbus Vahana team members, who have over 60
The French government has announced that a total rescue package of €15 billion is in place to protect the country’s aerospace industry. €7.0 billion of this has already been earmarked to support Air France during a time when demand for air travel has fallen by up to 95%, along with an acceleration of orders for
Ailing government-owned Malaysian Airlines Berhad (Malaysian Airlines) has a newly appointed non-executive chairman, YBhg Tan Sri Wan Zulkiflee Wan Ariffin (Wan Zulkiflee), effective July 1, taking over from Tan Sri Md Nor Yusof who resigned in March. Malaysian Airlines has been struggling in the wake of the disappearance of Flight MH370 and the downing of
Singapore Airlines (SIA) has raised S$10 billion of liquidity through its recent Rights Issue, as well as a mix of secured and unsecured credit facilities. This puts SIA on a steady footing as it tackles the challenges posed by the global Covid-19 outbreak. SIA secured S$8.8 billion in liquidity through the successful completion of the
Greece has been forced to decide from which countries it will allow holidaymakers to arrive from. The decision to create a shortlist of acceptable countries from where it would allow flights to arrive has been made more prescient after a Qatar Airways flight with 91 passengers on board arrived, after which 12 of the passengers
Deloitte, who was appointed as administrator when Virgin Australia went into administration at the end of April this year have announced that it has narrowed down five prospective purchasers for the struggling carrier to a final two candidates. Bain Capital and Cyrus Capital Partners, two “well-funded” U.S.-based private equity firms with “deep aviation experience” have
Brazilian planemaker Embraer has confirmed that it would consider a new partnership with China, India, Russia and possibly other countries in relation to its commercial jet division as part of a revised restructuring plan after Boeing abruptly backed out of a deal. Embraer Chief Executive Francisco Gomes Neto has said that the company is looking
