SPIRIT AEROSYSTEMS had $633m net loss on $6b revenues in 2023 vs $546m loss on $5b in 2022; it had $59m net income in 4Q23 based on forward loss reversals of $205.6m and material right obligation liability reversal of $155m related to 787 program. It delivered 1,418 shipsets (356 737) in 2023 vs 1,297 (281) in 2022, but would not provide any guidance for 2024 until there is further clarity on 737 MAX production rates and ongoing price negotiations with Airbus.
U.S.-European startup Cosmic Aerospace has raised $4.5 million in seed financing to progress development of a 24-passenger all-electric regional aircraft.
The halls and meeting rooms on the second day of WDS were abuzz with product announcements, industrial collaborations, and order negotiations with all of these subjects covered extensively in the Day 3 edition of SHOW BUSINESS.
Saudi Arabia’s ability to assemble complex combat air platforms was demonstrated at WSD by the delivery of the last of 22 locally assembled BAE Systems Hawk Mk.165S.
Saudi Arabia’s economic power and geopolitical influence makes it a “core country” for Airbus Defence and Space, in the view of its chief executive, Michael Schoellhorn.
Saudi Arabia’s Ministry of Investment (MISA), the General Authority for Military Industries (GAMI) and global industrial giant Leonardo have signed an MoU.
Virgin Galactic is investigating the loss of a part of the mechanism connecting VSS Unity with the carrier aircraft VMS Eve during a commercial spaceflight.
RECARO was selected by Southwest to supply BL3710 economy class seats for new 737-8s from 2025; seat includes multi-adjustable headrest, ergonomically enhanced seat bottom, backrest with lumbar support and new armrest.
HONEYWELL is investing $84m to expand its manufacturing facility in Olathe, KS, which produces components for avionics, safety and flight control systems and radio frequency systems for TCAS, radar altimeters, and weather radar.