Britain ‘still attractive for aerospace investment’ despite Brexit uncertainty August 27, 2019 Britain is the fourth-most attractive attractive country to invest in for the aerospace and defence industries, according to research. Despite warnings from major industry players that Brexit uncertainty will hamper investment in the sector, the UK has been named the best European country to invest in, ahead of Germany, by PwC. Countries were ranked on [...]
Boeing 737 Max: First customer lawsuit comes in against plane maker as Russian firm sues August 27, 2019 Boeing is facing its first lawsuit from an aviation industry customer of its Boeing 737 Max, after a Russian firm that ordered 35 planes is said to have sued it for breach of contract. Avia Capital Services, an aircraft leasing company that is a subsidiary of Russian firm Rostec, made an order for 35 Max [...]
Up in the air: Risks pile on for aerospace industry as 737 Max saga continues August 22, 2019 Risks are mounting for the world’s aerospace industry, amid political tensions and delays to Boeing’s grounded 737 Max jet returning to service, according to ratings agency Moody’s. Read more: Boeing takes $4.9bn hit on 737 Max groundings to compensate airlines The grounding of the best-selling passenger jet in March after two deadly crashes killed 346 [...]
Lion Air ‘urgently’ needs more Boeing 737 Max jets to support growth August 14, 2019 Indonesian airline Lion Air “urgently requires” more Boeing 737 Max jets, after two crashes involving the model – one of which was a Lion Air jet – left the entire global fleet grounded in March. The airline’s co-founder, Rusdi Kirana, told Reuters that once regulators allowed the plane back in the skies, it needed more [...]
Rolls-Royce: Engine issues still in focus after ‘storm of steel and iron’ falls from plane August 14, 2019 On a sunny, 30C-degree afternoon in Fiumicino, near Rome, residents of the airport town thought they were experiencing a sudden hail storm. But when witness Paola Di Lazzaro looked outside, she saw “a storm of steel and iron,” she told Italian newspaper Il Messaggero. Hundreds of shards of incandescent metal were falling down to earth [...]
Rolls-Royce shares drop after ‘hailstorm’ of jet engine fragments cause chaos in Rome August 12, 2019 A “storm of steel and iron” raining down on people in a busy suburb of Rome over the weekend sent engine maker Rolls-Royce’s market value tumbling more than half-a-billion pounds today. Romans were forced to take cover on Saturday as hot fragments of metal fell from a Boeing 787 Dreamliner jet flying over the Fiumicino [...]
Boeing crisis: 737 Max grounding cuts global airline seats by 40m August 7, 2019 The grounding of Boeing’s 737 Max means at least 40m fewer aircraft seats will be available this summer. Aviation regulators across the globe grounded the jet in March after two crashes triggered by a faulty anti-stall system killed 346 people. Read more: Boeing takes $4.9bn hit on 737 Max groundings to compensate airlines Boeing hopes [...]
Rolls-Royce boss still cannot call time on Trent 1000 engine issue August 6, 2019 Rolls-Royce’s chief executive Warren East was today unable to predict when he will draw a line under a long-running engine problem which has grounded hundreds of passenger jets and already cost the firm billions of pounds. The blue-chip engineer today announced a further £100m loss on the Trent 1000 engine, which powers the popular long-haul [...]
Meggitt rides wave of US defence spending spree to defy Boeing 737 Max woes August 6, 2019 Engineering firm Meggitt enjoyed a five per cent spike in its share price this morning after upping prediction for annual revenue growth to between four per cent and six per cent. The FTSE 250 defence contractor has taken a significant hit in recent months, after Boeing grounded its 737 Max jet earlier this year in [...]
BBA Aviation profits down amid aerospace industry struggles August 5, 2019 Aerospace services firm BBA Aviation shares fell this morning as it announced a slight deterioration in first half profits. The firm, which provides the global aviation industry with fuelling, ground handling and passenger services, said a cooling sector was partly to blame for the results. Read more: Cobham founding family says takeover ‘against national interest’ [...]