AIRBUS had €595m net income on €12.8b revenues in 1Q24 vs €466m on €11.8b in 1Q23; it confirmed plan to deliver about 800 aircraft in 2024. It also announced plans to increase A350 production to 12 per month in 2028 in addition to ramping up to 14 A220s per month and 75 A320 Family aircraft per month in 2026 (still targeting four A330s/month in '24).
VOLTAERO began certification testing of its electric-hybrid powertrain (Safran Electrical & Power’s ENGINeUS 100 smart electric motor integrated with Kawasaki’s 4-cylinder high-performance thermal engine) for the 5-seat Cassio 330.
LOAR made IPO of 11m shares on NYSE at $28 each; offering is to close on April 29 and includes 30-day option for underwriters to purchase an additional 1.65m shares. Jefferies and Morgan Stanley are acting as lead book runners.
LATAM AIRLINES GROUP entered into Perpetual Power Agreement with FTAI Aviation that includes comprehensive engine power solution for CFM56s and V2500s via engine exchange program and a SLB transaction for >30 aircraft.
Wright Electric has begun building a test cell to characterize the performance of its megawatt-scale electric propulsion systems for large commercial aircraft.
Joby's agreement with the Abu Dhabi government is intended to support an air taxi ecosystem in the UAE where the company wants to launch service in 2025.
Archer Aviation has signed a framework agreement showcasing the latest in advanced urban mobility, driving discussions, collaboration, and innovation across the sector.
BOEING says key to restoring MAX production from less than 38 per month to 50 is ensuring fuselages delivered from Wichita are clean, following on-site inspections, eliminating travel work; its first objective is to get back to 38 per month. It also plans by end of 2024 to deliver most of the MAX (110 aircraft) and 787 (60) inventories and shut down shadow factories.
PARKER AEROSPACE joined HyFIVE consortium of industry and academic partners to develop liquid hydrogen fuel system and supply chain supporting zero-emission aviation in the 2030s; committed program funding totals US$46.5m.
BOEING opened new research and technology center in Nagoya, Japan to develop sustainable technologies to support decarbonization of aviation by focusing on digital simulation toolsets, composites, SAF and hydrogen propulsion.
BOEING had $355m net loss on $16.6b revenues in 1Q24 vs $425m loss on $17.9b in 1Q23, reflecting lower 737 deliveries and 737-9 grounding customer considerations (BCA had -24.6% operating margin). It has $528.7b backlog.
