Key aerospace and defense suppliers Woodward and Hexcel have called off their planned merger due to the novel coronavirus outbreak, ending a three-month saga that always baffled many industry insiders and has since been overtaken by survival necessities.
Aviation and healthcare training provider CAE on April 6 announced that it has furloughed one-quarter of its workforce among “flexible measures” being implemented in response to the COVID-19 pandemic.
Aero-engine manufacturer Rolls-Royce says it is preparing for a dip in engine delivery volumes as the industry scales back operations in the face of the novel coronavirus pandemic.
Boeing’s suspension of aircraft production at its major Puget Sound and Moses Lake, Washington, campuses has been extended “until further notice,” the OEM said April 5.
The Pentagon’s leading contractor by annual sales has committed to providing $106 million in accelerated payments to suppliers, up from $53 million it promised March 27.
GE Aviation, the aero-engine maker and service provider of General Electric, has begun a four-week furlough of workers in assembly and parts manufacturing, the company announced April 2, adding to a furlough program it unveiled last week in the wake of the COVID-19 crisis.
The U.S. Air Force is applying its method of drawing innovative ideas into the service to help provide aerospace suppliers struggling in the COVID-19 downturn with the cash flow they need to stay in business, Chief of Staff Gen. David Goldfein said during a wide-ranging conversation with reporters.
The KC-46 program can recover easily from a two-week pause and the Air Force acquisition executive says he has “no reason” to believe Boeing will extend the production pause.
Air Combat Command has dropped a plan to award a sole-source contract to Hillwood Aviation to supply Korea Aerospace Industries/Lockheed Martin T-50s for a five-year demonstration program, opting for a competition instead.
Austrian aerospace parts and services provider FACC said March 25 that “a large part” of its staff is expected to apply for “short-term work” starting April 6, and that it will revise plans to ramp up a new Croatian factory, as well as suspend its dividend payment to shareholders for 2019.
The Pentagon’s acquisition arm is tackling the military’s response to the novel coronavirus with a two-pronged approach: securing authorities for the defense industrial base to continue work while simultaneously supporting the Federal Emergency Management Agency (FEMA) and the U.S. Department of Health and Human Services (HHS), a DOD official said.
EPlane, an electronic marketplace startup for aviation aftermarket parts and MRO, announced March 24 that it landed $9 million in new funding from Japanese conglomerate Marubeni Corp.
CPI Aerostructures of Edgewood, New York, said March 24 it will remain open and operating after state officials branded it an “essential business” to keep going while Albany leaders otherwise roll out a shelter-in-place mandate for New York residents.
