The top Democrat on the Senate Commerce, Science and Transportation Committee is urging Treasury Secretary Steven Mnuchin to reopen the federal loan application process for businesses that are critical to national security, and revise the eligibility criteria to include the aerospace supply chain to help support the defense industry during the global coronavirus pandemic.
Month-old Raytheon Technologies is slashing billions of dollars in costs and other retrenchments, including workforce cutbacks, as commercial OEM and aftermarket revenue could be halved this year in the wake of COVID-19.
The National Business Aviation Association has made “significant” reductions to its workforce as it contends with the effects of the COVID-19 pandemic, including the cancellation of its events through July 1, the business aviation trade group announced May 5.
Embraer’s commercial and business jet assets could be back on the market someday, Bombardier’s future as a bizjet-focused OEM remains a topic of debate, and a Boeing-Mitsubishi SpaceJet partnership is on the lips of Boeing’s CEO.
NetJets has cut a quarter of its staff at two divisions and revised downward the number of aircraft it plans to accept in 2020 as the company restructures its business in response to the COVID-19 crisis.
Textron Aviation posted a drop in deliveries, profit and revenue during the first quarter of 2020 as deliveries were delayed and demand declined due to the COVID-19 pandemic and a December plant accident that disrupted composite production.
Gulfstream Aerospace business jet deliveries declined in the first quarter of 2020 due to travel restrictions brought on by the COVID-19 pandemic, while constraints in its supply chain are affecting production.
Fielding a technology that can expand the use of additive manufacturing in parts production, startup Velo3D has secured $28 million in Series D funding, taking total financing raised so far to $138 million.
PrivateFly, a UK-based broker, has been publishing a quarterly Private Jet Charter Trends report since 2016, but never before has CEO and co-founder Adam Twidell had to write one quite like the latest edition, covering the first three months of 2020.
Aeronexus, a London-based provider of widebody VIP charter services, has acquired a controlling interest in Privajet of Malta, a 10-year-old aircraft management company.
Gogo, a Chicago-based inflight internet provider to business aircraft and airline passengers, plans to furlough about 60% of its workforce and reduce pay for most other employees as part of a plan to reduce costs due to the impact of the COVID-19 pandemic.
Customers are still taking delivery of the business jets they have ordered, but new sales have been impacted by the COVID-19 pandemic and will take time to recover, according to the head of Brazilian manufacturer Embraer’s private jet business.
Textron Aviation has delivered two Cessna Citation Latitude midsize business jets configured for flight inspection missions to Kanematsu Corp., owned by the Japan Air Self-Defense Force.
Italy’s Piaggio Aero Industries and Piaggio Aviation have again extended the deadline for parties to submit expressions of interest to purchase the businesses, which have been operating under extraordinary administration under the Piaggio Aerospace brand.
North American companies involved in building and operating small drones are proposing systems that could potentially be used in battling the COVID-19 pandemic.
Business jet results in the first quarter of 2020 have been “hammered by COVID-19,” and results could worsen in the second quarter before a potential recovery in the second half of the year, Cowen analyst Cai von Rumohr wrote in a note to investors.
CAE, a Canadian manufacturer of aviation training simulators, is recalling temporarily laid-off employees as it plans to produce 10,000 ventilators to help in the treatment of COVID-19 patients.
