Boeing has reached an agreement exceeding $2.5 billion with the U.S. Justice Department (DOJ) to settle criminal charges that two of its employees defrauded the FAA’s Aircraft Evaluation Group (AEG) about safety issues connected to two fatal 737 MAX accidents.
A recovery is expected to start this year but the French aerospace industry is still in the middle of its endeavor to save jobs and skills, showing solidarity and exploiting state aid programs.
As far as positive signs go in 2020, a relative bright spot was the dearth of bankruptcies and clear exits from the aerospace and defense sector by small and medium-sized suppliers.
An investment fund formed last summer to support small and medium enterprises in the French aerospace sector has received an additional €100 million ($120 million) from the Credit Agricole banking group, thus bringing it closer to its goal of raising a total of €1 billion.
China Eastern’s new subsidiary OTT Airlines is planning to launch at least five routes during the first quarter of 2021 as it seeks to gain a foothold in China’s domestic market.
The publicly traded aerospace and defense (A&D) sector saw its share prices fall 16% collectively in 2020, with commercial aerospace companies plummeting 21% and defense companies dropping 8%, according to Vertical Research Partners.
CDB Aviation’s foray into freighter conversions with partner EFW is not likely to grow beyond the Airbus A330 platform, but CEO Pat Hannigan is leaving the door cracked.
An Air France crew that spent 17 hours on the ground with 497 passengers after a diversion to Atlantic Canada has lessons to apply in similar predicaments.
Alaska Airlines reached an agreement in principle with Boeing to take as many as 120 new 737-9 jets in coming years, marking the first sale of a MAX aircraft to a U.S.-based customer since the type was grounded nearly two years ago.
