EC approves €7bn French guarantee and shareholder loan to Air France
The European Commission (EC) approved a €7bn French guarantee and shareholder loan to Air France as the coronavirus (Covid-19) pandemic severely affects airlines’ operations.
Falling under EU State aid rules, the loan is to provide liquidity support to the company.
Last month, Franco-Dutch airline holding company Air France-KLM and Air France secured the funding and was due to be approved by the commission.
Airbus secures contract to build third ESM for Orion spacecraft
Aerospace and defence company Airbus secured a contract to build the third European Service Module (ESM) for the Orion spacecraft.
The third European Service Module (Artemis III Mission) will be used to fly astronauts to the Moon in space in 2024.
Awarded by the European Space Agency (ESA), the €250m contract ensures the continuity in Nasa’s Artemis programme.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLATAM Airlines files for bankruptcy protection in US
South American carrier LATAM Airlines filed for Chapter 11 bankruptcy protection in the US.
The airline, along with its affiliates in Chile, Peru, Colombia, Ecuador and the US, initiated the voluntary reorganisation and restructuring.
The filing was supported by its largest shareholders Cueto and Amaro families and Qatar Airways.
Covid-19: Rolls-Royce to cut 9,000 jobs from global workforce
Aero engines manufacturer Rolls-Royce revealed plans to axe 9,000 jobs from its global workforce to deal with the reduction in engine and service demand due to Covid-19.
The decision is part of the company’s major reorganisation plan to adapt to the new level of demand.
The company will also decrease costs across its facilities and property, capital and other indirect expenditure.
AerCap reschedules aircraft deliveries to reduce capital expenditures
Global aircraft leasing company AerCap Holdings rescheduled the deliveries of 37 aircraft to reduce cash capital expenditures.
With this development, the delivery schedule has now been moved to 2023 and beyond.
More than 100 aircraft were scheduled to be delivered between this year and 2022.
Jacobs secures engineering design services contract from FAA
Technology firm Jacobs secured a contract from the US Federal Aviation Administration (FAA) for architect and engineering design services.
As part of this contract, the company will support the FAA in upgrading and sustaining more than 13,000 facilities nationwide.
The facilities support the National Air Space (NAS) and the services will enable safe and efficient flying.
Kuwait Airways to cut jobs amid Covid-19 crisis
State-owned airline Kuwait Airways is set to lay off 1,500 foreign employees in response to the impact the Covid-19 pandemic has on its business.
Set to affect non-Kuwaiti employees, the job cuts will be across the airline, Reuters quoted Kuwait Airways as saying in a tweet.
However, the airline did not disclose the departments where the lay-offs would take place.
GKN Aerospace and Eviation partner on EWIS for Alice electric aircraft
Aerospace technology supplier GKN Aerospace and aircraft manufacturer Eviation signed a collaboration agreement for Alice electric aircraft.
Under this agreement, GKN Aerospace will be responsible for the production of wings, empennage and electrical wiring interconnection systems (EWIS) for the aircraft.
Alice is Eviation’s regional electric aircraft launched recently.
Boeing and UK CAA sign MoU over Innovation Sandbox project
Aerospace and defence company Boeing and the UK Civil Aviation Authority (CAA) signed a memorandum of understanding (MOU).
The MoU is part of the CAA’s Innovation Sandbox project, which allows participants to explore and test innovative aviation solutions in a safe and real-world conditions-controlled environment.
As part of this, Boeing will focus on projects to make safe beyond visual line-of-sight (BVLOS) operations by unmanned aircraft systems (UAS) above 400ft possible.
Avianca files for Chapter 11 to preserve and reorganise business
Columbian flag carrier Avianca filed for Chapter 11 bankruptcy as Covid-19 continues to affect operations.
The carrier, along with some of its subsidiaries and affiliates, filed voluntary petitions in the US Bankruptcy Court for the Southern District of New York.
One of the largest carriers in Latin America, Avianca grounded its passenger operations since March due to the outbreak.
