BOEING launched concurrent offerings of 90m shares of common stock (par value $5 per share) and $5b depositary shares (1/20th interest per share; par value $1 per share); offering includes options for 13.5m shares/$750m depositary shares, increasing total raise to $19b. Goldman Sachs, BofA, Citigroup and J.P. Morgan are lead bookrunning managers.
U.S. startups Natilus and JetZero sense the time is right for a chance to break into the big jet air transport business with radical blended wing body concepts.
The A&D industry’s critical minerals supply chain is in a precarious position given its reliance on Chinese imports, panelists say at the Zero Gravity summit.
SAFRAN GROUP had €6.6b revenues in 3Q24 vs €5.8b in 3Q23; Propulsion increased 9.2% (civil aftermarket up 20.5%) and Aircraft Interiors increased 28.4%, although still 4% down from 2019. Revenue for year is up 17.4%.
MOODY'S says IAM rejection of Boeing contract offer has little bearing on its Baa3 rating. It believes deal will be reached, whereby company could accommodate union's objective of 40% compensation increase but not the pension demand.
As the strike at Boeing is impacting the airframer’s supply chain, Safran is taking action to protect its own suppliers, Safran CEO Olivier Andries said.
While the company has made significant progress in development and was nearing first flight of a production-standard aircraft, it has run out of time and money.
Widebody airliners remain essential for intercontinental transport, but without new models, an industry built on continuous improvement risks falling behind.
LILIUM announced that German subsidiaries, Lilium GmbH and Lilium eAircraft GmbH, plan to file for insolvency under German law and apply for self-administration after failing to secure funding from German government and other sources.
MTU AERO ENGINES had €211m net profit on €1.9b revenues in 3Q24 vs €568m loss (due to charges relating to GTF inspection program) on €1.5b in 3Q23. It ended the quarter with €23.4b backlog, down 4% from €24.4b a year ago.
SPIRIT AEROSYSTEMS had $477m net loss on $1.47b revenues in 3Q24 vs $204m loss on $1.44b in 3Q23 and ended quarter with $218m in cash (vs $374m) and $48b backlog (vs $42.2b); it delivered 332 shipsets vs 332 a year ago.
