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Recession in the Caribbean

Cdr. Bud Slabbaert When there are reports on ‘Latin America & Caribbean’, one has to review them carefully and with some skepticism, to avoid coming to false conclusions or statements; no matter whether the reports are positive or negative.  The economies of the large So...

Cathay Pacific recapitalisation financing of USD5bn

Cathay Pacific announced a recapitalisation plan that will help it maintain its competitiveness and operations, while continuing its commitments to Hong Kong as an international aviation, financial and commercial hub. This three-part plan is designed to provide Cathay Pacific with sufficient fu...


Lilium welcomes Baillie Gifford as new investor

Lilium welcomed respected investment management partnership, Baillie Gifford, as a new investor. Known for their track record of investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX, the partnership has invested $35m in the company, extending the current funding round to more than $275m, and total investment to date to more than $375m. The news co...

Austrian Airlines Receives Financial Aid from the Federal Government and Lufthansa

EUR 150 million in state aid to cover coronavirus-related losses; ecological requirements imposed  EUR 150 million injection of equity capital by Lufthansa  EUR 300 million as bank loans to be repaid by 2026  Rescue package designed to ensure maintaining flight hub to CEE and long-haul flight connections  The Austrian Federal Government, Lufthansa and Austrian Air...

Commercial aircraft market to focus on innovative digital solutions and leasing

Frost & Sullivan’s recent analysis, Post-pandemic Growth Opportunity Analysis of the Global Commercial Aircraft Market, presents updates to the 2020 outlook and growth opportunities for original equipment manufacturers (OEMs), the supply chain, and aftermarket suppliers. Under the conservative forecast scenario, the market is estimated to witness a dramatic drop in revenues, reachin...

Safran reports on business developments of first months of 2020

The Annual General Meeting of Shareholders of Safran met behind closed doors at the Company's head office, under the chairmanship of Ross McInnes, Chairman of the Board of Directors. The Annual General Meeting was broadcast live on Safran's website and relayed via conference call. Ross McInnes, Chairman of the Board of Directors, and Monique Cohen, Chair of the Appointments an...

Economic Stabilization Fund approves Lufthansa stabilization package

Deutsche Lufthansa AG has been informed by the Economic Stabilization Fund (WSF) of the Federal Republic of Germany that the WSF has approved the stabilization package for the company. The Executive Board also supports the package. The package provides for stabilization measures and loans of up to EUR 9 billion. The WSF will make silent participations of up to 5.7 billion euros in total in t...

Wingcopter - one of the winners of German Government €24 million COVID-19 hackathon

Wingcopter, developer of autonomous delivery drones for humanitarian and commercial applications, has been named one of nine winners of the #SmartDevelopmentHack. Through this global hackathon, the German Ministry for Economic Cooperation and Development (BMZ) solicited innovative digital solutions to tackle the challenges caused by the coronavirus outbreak in low- and middle-income countries...

Norwegian: recapitalization finalized and state aid secured

Norwegian confirms that the restructuring is completed and that the state loan guarantee of in total NOK 3 billion has been approved. The company has now converted NOK 12.7 billion of debt to equity and laid a solid foundation for the future, although the next months will remain challenging. “I want to thank everyone who has supported the company during this unprecedented crisis that has...

Rolls-Royce major reorganisation - to address medium-term impact of corona crisis

The impact of COVID-19 on Rolls-Royce and the whole of the aviation industry is unprecedented. We have already taken action to strengthen the financial resilience of our business and reduce our cash expenditure in 2020. It is, however, increasingly clear that activity in the commercial aerospace market will take several years to return to the levels seen just a few months ago. We must now address...

Investment in expanding global fleet - AirMed International

AirMed International has added a medically configured Hawker 800XP aircraft to its Birmingham, Ala. base. The dedicated medical transport aircraft joins two other AirMed owned and operated Hawker jets based at Birmingham International Airport. "The addition of this dedicated medically equipped aircraft demonstrates our commitment to reinvesting in our airborne assets and exceptionally tr...

Pilatus is prepared for turbulent 2020

Pilatus reported another very successful business year in 2019, exceeding the one billion mark yet again with turnover of approximately 1.1 billion Swiss francs. Operating income totalled 153 million Swiss francs, incoming orders amounted to 1.1 billion Swiss francs. Pilatus staff enjoyed a share in this success with a generous bonus payout – even in the current difficult economic climate....

Government investment in airBaltic will return multiple times for Latvia - Martin Gauss

On May 11, the CEO of airBaltic Martin Gauss presented and shared the experience on how airBaltic is dealing with the COVID-19 crisis, how the new business strategy looks and what the future holds for Baltic economies.  Preparedness and fast adaption to the situation.  airBaltic had a well-developed crisis plan for various economic and operational crisis of the...

Strong Q1 for FACC to start a challenging fiscal year 2020

FACC AG started into the 2020 fiscal year with its best Q1 result to date. The measures of the cost reduction program totaling 50 million euros are beginning to take full effect. This has created a good starting position for the corona crisis. The effects of the COVID 19 pandemic will noticeably influence the further course of the financial year, although the full extent of the decline cannot yet...

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Essential news

Vertical Aerospace secures ATI funding for £2.3 million smart charger development project

Vertical Aerospace has received investment from the Aerospace Technology Institute (ATI) to fund the development of a smart charger for their electric aircraft. The charger will increase Vertical...

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Vertical Aerospace secures ATI funding for £2.3 million smart charger development project

Vertical Aerospace has received investment from the Aerospace Technology Institute (ATI) to fund the development of a smart charger for their electric aircraft. The charger will increase Vertical...