Israel-based defense contractor Elbit Systems, which has a major U.S. subsidiary, acknowledged issues in its operations on April 13 and said it started carrying out unspecified “cost-control measures to help limit the financial impact on the company.”
A Lockheed Martin employee working at the Fort Worth facility where the F-35 is assembled died several days after informing the company he felt ill with COVID-19-like symptoms, Lockheed said on April 13.
Aerospace supplier Woodward is cutting the equivalent of 15% of its full-time workforce through the year as the COVID-19 pandemic’s effects ripple through the aerospace supply chain, the company quietly disclosed April 10.
Supplier Triumph Group late April 10 announced furloughs for around 2,300 employees across its plants in the U.S. and Europe for two-four weeks to cut work along with the current suspension of all Boeing Commercial Aircraft programs, and the company is laying off up to 700 more workers.
Arlington Capital Partners, a private equity group focusing on aerospace and defense, is bolting on more assets to its AEgis Technologies brand for U.S. national security customers.
Teledyne Technologies, a key supplier of aerospace instruments, digital imaging products and defense electronics, has warned Wall Street of a dramatic falloff in commercial aerospace business and that its full 2020 outlook will be ramped down due to the novel coronavirus.
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.
