As a result of a US$540 million shave off its pretax income since the grounding of the Boeing 737 Max in March 2019, American Airlines (American) has reached an undisclosed settlement figure with Boeing Co. to cover the carrier’s losses as a consequence. The figure is not a complete settlement and does not include any
Though not strapped for cash with approximately US$20 billion currently available based on third-quarter figures, Boeing is considering increasing its debt in light of ongoing 737 MAX problems, according to the Wall Street Journal. With failure to see the stricken 737 MAX back in service after two fatal crashes, Boeing has decided to halt production
As a the result of a long-running spat between IndiGo’s co-founders, Rakesh Gangwal and Rahul Batia, parent company Interglobe Aviation has called an extraordinary general meeting for January 29 to give consideration to a proposal by Rakesh Ganwal who, with the Chinkerpoo family trust and Shobha Gangwal, holds a 37% stake in the company through
Airbus has taken full advantage of Boeing’s 737 MAX woes and even managed to exceed the company’s October’s revised goal of 860 deliveries for 2019. Having canceled many holidays and re-allocated elements of its workforce, the European plane manufacturer managed to complete a backlog of aircraft which were waiting to have their cabins adjusted. In
In a hangar at Gloucester Airport in the U.K., Rolls-Royce has unveiled its all-electric aircraft which it hopes will enter the record books next year as the fastest all-electric plane. The single-seater aircraft is part of Rolls-Royce’s ACCEL initiative (Accelerating the Electrification of Flight) with which it is aiming to champion electric flight, in conjunction
The Air France–KLM Group has firmed up an order for 60 Airbus A220-300 aircraft to modernise its single-aisle fleet. The aircraft are intended to be operated by Air France. “We are glad to see that Air France is endorsing the A220 as a great step towards fleet optimisation for large network carriers. The largest Airbus
BAE Systems Inc, the American arm of the British multinational defense, security and aerospace company BAE Systems plc, has announced that, effective April 1, 2020, the current COO and president, Tom Arseneault, will become company CEO and president. The current CEO, Jerry DeMuro will take on a new role as executive vice president of Strategic
With the return to service of the Boeing 737 MAX now postponed to 2020, Boeing has continued to build new airplanes and there are now approximately 400 airplanes of the troubled 737 MAX in storage. As a result of ongoing evaluations, Boeing has decided to prioritize the delivery of stored aircraft and temporarily suspend production
In its filing for bankruptcy last Friday (Dec. 13) Vector Launch (Vector), U.S. aerospace and defense company, has stated that Lockheed Martin Corp (Lockheed Martin) intends to acquire its GalacticSky-related assets for US$4.25 million while also providing a loan of US$2.5 million so that it can continue operations. However, the bid for the satellite technology
Qantas has announced several important developments for Project Sunrise ahead of a final go/no go decision, which will now take place in March 2020, the airline stated on its website. After detailed evaluation of the Boeing 777X and Airbus A350, Qantas has selected the A350-1000 as the preferred aircraft if Sunrise proceeds. This aircraft uses
