Gulfstream Aerospace delivered 32 aircraft in the third quarter, down from 38 a year ago, although sales activity in the quarter was a “quantum leap” better than in the second quarter, a top official said.
Boeing plans to cut its workforce by almost 19% by the end of 2021 and is beginning a consolidation process that could see up to a 30% cut in the company’s footprint, Boeing said Oct. 28 while discussing third-quarter results.
Boeing will cut more jobs and ramp up its cash-preservation strategy as it continues to streamline operations and minimize financial damage exacerbated by the global airline downturn, company executives said Oct. 28.
Austrian Airlines will cut capacity for the coming winter schedule further to only 20% or less of 2019 levels as the rising number of COVID-19 cases in Europe is expected to dampen any new travel demand.
CEO Jude Bricker says the passenger airline’s flexible route network and cargo-handling deal with Amazon have enabled it to remain resilient during the COVID-19 pandemic.
Raytheon Technologies expects to end 2020 with $10 billion in cash on hand, in part thanks to a new deal to sell its Forcepoint cybersecurity business, but also due to 20% fewer commercial aerospace employees, executives said Oct. 27.
An effective pre-flight COVID-19 testing regime is critical to airlines getting through the upcoming winter season and surviving 2021, but governments want proof that such testing is safe before they lift quarantine rules.
