Lockheed Martin has achieved its pledged goal of delivering $450 million in accelerated progress payments from the Pentagon to support the supply chain during the global novel coronavirus pandemic.
Star Alliance member EgyptAir and hybrid LCC Air Cairo have signed an MOU to enhance their strategic positioning and integrate their network and fleet, in an effort to overcome the repercussions of the spread of COVID-19.
Latvia’s Cabinet of Ministers has approved the investment of up to €250 million ($272 million) in airBaltic’s equity to help the national carrier through the COVID-19 pandemic.
GE Aviation will lay off as much as 25% of its workforce this year, including the voluntary and involuntary cuts it’s already taken, because of a downturn in its commercial aviation business.
Swiss International Air Lines (SWISS) must cut costs by 20% under a new business plan after Switzerland’s federal councils approved a CHF1.3 billion ($1.3 billion) commitment loan for SWISS and its leisure company Edelweiss Air.
A former Royal Air Force chief has been selected to become the future chairman of the UK Civil Aviation Authority. Sir Stephen Hillier, who served as Air Chief Marshall of the Royal Air Force between 2016 and 2019, is set to become a nonexecutive chair of the regulator on Aug. 1, taking over from Dame Deirdre Hutton, the current chairman who has been in the role for the past 11 years.
Air New Zealand has revealed plans to restore many of its domestic routes when the country’s travel restrictions are reduced, which could occur within the next week.
Brian Proctor is head of the Dallas-based Mente Group, a global aircraft brokerage and consulting firm active in midsize and larger business jets. He has served private aviation clients for more than 20 years and serves on a number of industry boards, including the National Aircraft Resale Association.
A second experiment of advanced battle management and networking technologies delayed by the novel coronavirus since April will be expanded and held in late August or early September, the leader of the U.S. Air Force’s initiative said on May 7.
Bombardier saw a $600-800 million impact on cashflow in the first quarter due to the COVID-19 crisis and projects a similar impact in the second quarter, during which it expects business activity to hit a low point before beginning to recover.
Calls have been growing in Europe for airline bailouts to include environmental conditions and before the COVID-19 crisis, the French government was among those calling for greater sustainability efforts from airlines in recent months, introducing an eco-tax on flights departing France from the start of 2020.
Vietnam Airlines plans to restore all of its domestic routes by June, which would mark a rapid rebound from the suspension of all but a handful of flights in April.
The recent decision by Brazil’s largest domestic airline GOL to cancel orders for 34 Boeing 737 MAX narrowbodies has coincided with a compensation payment from the airframer, bolstering GOL’s cash balances to withstand the COVID-19 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.
