Boeing will report a $569 million after-tax accounting loss in its fourth quarter. The company will also reduce production of its 747 airplane starting September this year..
Tags: Boeing
Lockheed Martin Will Lay Off 1,000 Workers in Aeronautics Division
The defense contractor will cut workers from its aircraft division, Lockheed Martin Aeronautics Company. The company announced on Tuesday to offer voluntary lay off to its employees.
A350 Increased Sales Boost Airbus Earnings to 1.6%, Equalled A380
Due to the increased sale of Airbus superjumbo A380, the company's earnings rose to 1.6% last year. The aircraft maker is hoping another boost in its earnings this year because of the overwhelming order bookings from different countries.
Rolls-Royce faces trying times, cuts dividends in 25 years
Rolls-Royce halved its dividend payment to shareholders this year. However, many were relieved to get a dividend amount itself, especially since the company had issued five profit warnings in two years. Despite a fall in profit by 12%, the company shares jumped 13%.
Transportation: The FAA Warned Airlines that Lithium-Ion Batteries Could Cause Fire and Explosion in Airplanes
The FAA issued an official warning to airlines that lithium-ion batteries powering most mobile devices including smartphones are dangerous to be brought and transported in the aircraft’s cargo. The warning was stated following a series of study involving previous incidents involving lithium ion batteries overheating.
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Researchers in NASA is moving one step further to introduce a hybrid airplane technology in concluding its ERA project. The airplane will be able to fly on both fossil fuel and electricity, similar to hybrid car technology.
United Launch Alliance (ULA), a joint venture (JV) between Lockheed Martin and Boeing, is entering into miniature satellites segment. ULA is planning to launch a CubeSat carrier by mid 2017. ULA will explore business potential in launching small satellites for earth imaging, weather forecasting, internet relays, etc.
Quebec is reacting positively to its decision of supporting Bombardier Inc with $1-billion lifeline. Quebec says its decision wouldn't attract any trade dispute from the competitors of Canadian airline.
China revealed their first owned passenger plane manufactured by a Chinese initiative to compete with the leading global aircraft manufacturers for the largest passenger jetliners in Aviation market. Though, China is also among the mammoths in Aviation industry, the state still depends on Boeing and Airbus aircraft.
The ongoing talks between Airbus and Bombardier have ended incomplete as the former called off discussions soon after they became public.
Plans for setting up a Boeing factory in China has been submitted to the Beijing Government. It was reported Tuesday by the state-run media ahead of President Xi Jinping's U.S. visit, where he will tour one of its plants.
The closure of the US Export-Import Bank (EXIM) charter is forcing the US companies to explore business options overseas. Major aerospace companies, which have been benefiting from export financing and other encouraging schemes from EXIM, are in favor of shifting out of the US. General Electric (GE) has already firmed up to its plan to set up $400-million turboprop engine in Europe. Aerospace Industries Association (AIA), the largest US aerospace trade group, expresses concerns that many aviation companies are losing their competitiveness in the absence of support from EXIM. However, conservative Republicans are against EXIM charter as it's confined to only three major companies.
The $37B worth deal of Berkshire Hathaway Inc. with Precision Castparts Corporation, a major aircraft parts supplier of Boeing had encouraged more investors in the aircraft industry. However, Boeing had been delaying its suppliers' M&A contracts.
US Defense Secretary Ash Carter on August 8 gave $75 million to FlexTech Alliance, a consortium of giant tech and research firms, to develop an electronic device small enough for soldiers to carry.
