Covid-19: Boeing calls for $60bn aid for aerospace industry
Boeing called for a minimum of $60bn in government funding for the US aerospace manufacturing industry to overcome the impact of the Covid-19 pandemic.
The aircraft manufacturer sought assistance in government loan guarantees and other forms of financing that will help manufacturers, airlines, suppliers and other stakeholders to recover from the current crisis.
The move came after the US President Donald Trump said that his administration will support Boeing, one of the biggest aircraft manufacturers in the world.
India plans $1.6bn relief package for aviation sector
India was planning a relief package of up to $1.6bn for the aviation sector as the coronavirus (Covid-19) pandemic affected flight demand with several countries closing borders to contain the outbreak.
The Indian Finance Ministry is currently assessing a proposal that includes deferring several taxes imposed on the sector. The measures may also include enabling the airlines to pay the interest-free taxes in the next cycle.
One of the sources told the news agency: “Taxes could be deferred till the coronavirus spread is contained and the aviation sector can come back to its feet.”
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By GlobalDataCovid-19: Germany’s Lufthansa parks 700 aircraft as crisis deepens
German carrier Lufthansa grounded approximately 700 aircraft of its 763-unit fleet as the crisis deepened for the global aviation industry due to the coronavirus (Covid-19) pandemic.
The carrier reduced its passenger capacity by 95% and working hours, as well as suspended dividends, to mitigate the impact of the disease on its financial performance.
It also noted that the airlines will require financial assistance if the pandemic continues.
Covid-19 impact: Delta Air Lines grounds nearly 600 aircraft
US-based carrier Delta Air Lines decided to ground nearly 600 aircraft, as passenger operations collapsed globally due to the coronavirus (Covid-19) pandemic.
In addition to grounding nearly half of its fleet, the airline also decided to reduce its flying capacity by more than 70% until demand restores.
In a memo to the employees, Delta chief executive Ed Bastian highlighted that cash preservation is the company’s ‘top priority’ now, as it will help the business to rebound.
Covid-19: Air New Zealand receives up to $522m bailout offer
The New Zealand Government granted a bailout offer of up to NZ$900m ($522m) to flag carrier Air New Zealand.
The move came at a time when global airlines were struggling to cope with the impact of the pandemic, which decreased flight demand worldwide.
The government and Air New Zealand signed a 24-month debt funding agreement that will enable the airline to loan the amount if its cash reserves drop.
OneWeb launches 34 satellites from Baikonur Cosmodrome
Global communications company OneWeb strengthened its position to deliver connectivity with the launch of 34 satellites on 21 March.
Lifting off from Baikonur Cosmodrome, Kazakhstan, the satellites were on board the Soyuz launch vehicle.
The satellites were separated from the rocket following the launch and dispensed in batches of nine.
Raytheon and United Technologies receives approvals to close merger
Technology company Raytheon and aerospace technology provider United Technologies secured all compulsory regulatory approvals for their all-stock merger of equals.
In October last year, shareholders from the two companies approved all of the necessary proposals to close the merger.
The deal closed before the opening of trading on the New York Stock Exchange (NYSE) on 3 April.
Nasa’s Orion spacecraft enters final phase of preparation
Nasa’s Orion spacecraft for the Artemis I mission entered the final phase of preparation prior to its launch.
Earlier in March, the spacecraft completed space-environment tests at Nasa’s Plum Brook Station in Sandusky, Ohio, US.
After completing the test, it was transported back to the agency’s Kennedy Space Centre in Florida.
