Aerospace

NIAR (Wichita State University) is adding eVTOL test facility in Wichita for late 2024 that will include out-of-ground and in-ground effect test rigs.

TRANSDIGM had $404m net income on $1.9b sales in second quarter ended March 31 vs $304m on $1.6b a year ago.

AIRBUS finalized acquisition of US-based AEROVEL and its UAS, FLEXROTOR, to strengthen its portfolio of tactical unmanned solutions.

BELL unveiled Bell 429 aircraft lab for future autonomous fly-by-wire ops.

EMBRAER had $32.4m net income on $897m revenues in 1Q24 vs $72.7m loss on $717m in 1Q23; it has $21.1b backlog vs $17.4 a year ago. It also confirmed plan to deliver 72-80 E-Jets and 125-135 business jets in 2024.

AIRBUS delivered 61 aircraft (three A220s; 51 A320neo Family; A330neo; six A350s) in April vs 54 (six A220s; 42 A320neo Family; two A330neos; four A350s) in April 2023. It also posted orders from BRITISH AIRWAYS for three A320neos and two A321neos, JAPAN AIRLINES for one A350-900, and an undisclosed customer for 51 A321neos.

SPIRIT AEROSYSTEMS lost $617m in 1Q24 on 19% higher y-o-y revenues. It delivered 70 Boeing shipsets (44 737s) vs 116 (95) a year ago and 191 Airbus shipsets vs 176. Its current 737 production rate is approximately 31 aircraft/month.

Reed Macdonald to Chief Executive Officer of magniX, Everett, WA.

Paul Dolan to Executive Vice President of Loar Holdings, NY.

FAA opened new investigation of BOEING over whether workers falsified 787 inspection records of wing-to-fuselage joints.

CPP INVESTMENTS, Canada committed US$450m to ONTIC to support continued growth. CVC Capital Partners will remain invested in business.

LUFTHANSA now expects first delivery of 777-9 to slip into 2026. It has 27 on order.

KAMAN and TEXTRON SYSTEMS teamed to collaborate on KARGO UAV.