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.
BOEING says commercial aircraft production rate goals will have to be pushed into 2025. It wants to have good feeling internally by end 2024 on long-range planning, incl. potential divestitures, program adjustments and future commitments.
BOEING says it currently has 60 737-8s (primarily for China and India) and 30 787s in stock awaiting rework prior to delivery to customers; it now says shadow factories will need remain open into 2025 due to IAM work stoppage.
Spirit AeroSystems is racing to finish its sale to Airbus and Boeing or find enough bridge financing and cost cuts before otherwise running out of money.
The FAA has issued its regulation on powered-lift operations and pilot certification, a milestone that paves the way for the onset of eVTOL services in the U.S.
NATILUS, CA debuted 200-pax Horizon blended-wing-body commercial aircraft, designed to emit 50% less emissions and burn 30% less fuel than traditional tube-and-wing aircraft, for initial delivery/transatlantic services in early 2030s.
COLLINS AEROSPACE is investing $2m to expand its executive aircraft seating facility in Medley, FL to double upholstery production floor space to 30,000 sq ft and add new machining equipment to provide customization opps.
BOEING posted $6.2b net loss on $17.8b revenues in 3Q24 vs $1.6b loss on $18.1b in 3Q23, reflecting IAM work stoppage and previously announced charges on commercial (777X/767) and defense (T-7A, KC-46A, Commercial Crew, and MQ-25) programs; it ended quarter with $511b backlog vs $520b on Jan 1. It reinforced importance of fundamentally changing culture, stabilizing business, and improving program execution to set foundation for future of the company.
During an earnings call, Hexcel’s management highlighted “new challenges and shortages” in the supply chain that are adversely affecting production rates.
