Denis Muilenburg, Boeing Chairman, CEO and President, has confirmed that steady progress is being made towards certification for a new software upgrade for the troubled 737 MAX single-aisle jet. Tuesday saw an official engineering test flight that Muilenburg described as the “final test flight prior to the certification flight.” Boeing has been working frantically to
Lufthansa Group’s Adjusted EBIT declined to €-336 million in the first quarter of 2019 compared to €52 million for the first quarter of 2018, despite a 3 percent increase in total revenue of €7.9 billion for the quarter compared to 2018 figures. Adjusted EBIT was reduced by a EUR 202 million rise in fuel costs.
Having suspended all international flights last week and with only seven operational aircraft after creditors seized dozens of its aircraft, Jet Airways, India’s second-largest airline by market share, is on the verge of total collapse after failing to obtain emergency funding from its lenders. With current debt level running at approximately US$1.2 billion and pilots,
Delta CEO Ed Bastian outlined the importance of the airline’s maintenance, repair and overhaul business to its long-term future at the annual MRO Americas conference in Atlanta. The business is expected to generate close to US$1 billion in revenue this year, he said, and is on a path to double that figure over the next
Embraer S.A., the Brazilian plane maker, has announced the nomination of Francisco Gomes Neto to take over from Paulo Cesar de Souza e Silva in the position of President and CEO, which should become a formal appointment after the election process which will be held at the forthcoming General Shareholder’s Meeting on April 22. Neto
With the continued worldwide grounding of the 737 MAX, Boeing has announced that it will be reducing production of the narrow-body jet by 20 percent from 52 units per month to 42 units per month starting in mid April. The news hit the planemaker’s share price even further since the crash of a 737 MAX
Ethiopian authorities have released the preliminary findings into the crash of a Boeing 737 MAX 8 jet which crashed just after take-off on March 10, killing all 157 passengers and crew on board. It has been confirmed that the jet’s crew followed guidance provided by Boeing on how to fly the plane, also in emergency
Late Tuesday and early Wednesday, U.K. regional carrier Flybe announced the cancelation of approximately five percent of its flights, the majority of which were within the British Isles. It is understood that there is a combination of reasons behind these cancelations including union discussions over potential job losses and or relocations which relate to the
Activist investor Searchlight Capital Partners (Searchlight) has confirmed its intention to acquire a 26% stake in Latecoere, the French aeronautics company, through the acquisition of existing stakes held by Apollo Capital Management, Monarch Alternative Capital and CVI Partners, at a price of US$4.31 (€3.85) per share. The total investment is valued at US$106.8 million. A
Viva Air and CFM International have finalized the airline’s selection of CFM engines to power its new fleet of Airbus A320 aircraft. The order, which is valued at US$3.2 billion at list price, includes LEAP-1A new engines to power 35 A320neo aircraft, CFM56-5B new engines to power 15 A320ceo aircraft, and an aftermarket support contract
