Wed, Jul. 27, 12:57 PM
- Airbus (OTCPK:EADSF, OTCPK:EADSY) is locked in a dispute with the FAA over the safety of lithium-ion batteries installed on its newest A350 jets, even after European regulators already approved the system, WSJ reports.
- FAA approval has been pending for months, with Airbus officials expressing optimism last fall that a favorable decision was imminent, but continuing disagreements instead are pitting the manufacturer against FAA technical experts and have created a regulatory logjam, according to the report.
- With the FAA continuing to evaluate the matter and no clear timeline for a final decision, the two sides appear unable to agree even on the precise issues that are blocking progress, the report says.
Wed, Jul. 27, 2:15 AM
- Deutsche Bank's (NYSE:DB) net income fell nearly 100% in Q2, prompting the lender to promise a more aggressive overhaul.
- Santander's (NYSE:SAN) profits fell on forex swings and a restructuring charge related to branch closures and employee layoffs.
- Pointing to continued pressure on refining margins and prices, Statoil (NYSE:STO) missed expectations on both the top and bottom line.
- Airbus (OTCPK:EADSY) took over €1.4B in fresh charges for its troubled A400M and A350 programs, but reaffirmed targets as it posted lower quarterly earnings.
- Telecom Italia (NYSE:TI) raised its full year domestic profit outlook after beating expectations and agreed to invest $1.2B with Fastweb across 29 Italian cities.
- ARM Holdings (NASDAQ:ARMH) posted a profit and sales rise, but was unable to provide full year guidance given restrictions related to its takeover by Softbank (OTCPK:SFTBY).
Fri, Jul. 22, 4:55 PM
- American Airlines (NASDAQ:AAL) said earlier today that it will defer delivery of 22 Airbus (OTCPK:EADSF, OTCPK:EADSY) wide-body aircraft, saving $500M in 2017 and $700M in 2018 while providing more flexibility in how to use its fleet.
- AAL will take A350 XWB aircraft from late 2018 through 2022, deferring each plane’s arrival by an average of 26 months, after previously planning to receive the first A350 in spring 2018.
- Reduced spending because of the delayed deliveries will provide a lift to AAL's free cash flow after an aggressive fleet renewal program and share repurchases increased total debt, J.P. Morgan analyst Mark Streeter says.
- AAL also reported better than expected Q2 earnings as lower fuel prices helped offset the effects of a lackluster global economy.
Thu, Jul. 21, 10:29 AM
- Pegasus Airlines, Turkey's leading low-cost airline, has taken delivery of its first Airbus A320neo (OTCPK:EADSY -1.2%) powered by CFM’s LEAP-1A engines, becoming the first airline to do so for the type.
- "We are delighted to be delivering our first CFM powered A320neo to Pegasus Airlines," said Fabrice Bregier, Airbus President and CEO.
- Previously: A320neo delivery to Pegasus postponed (Jul. 18 2016)
Wed, Jul. 20, 11:58 AM
- The European Union approves Airbus (OTCPK:EADSF, OTCPK:EADSY) and Safran's (OTC:SAFRF, OTCPK:SAFRY) joint takeover of Europe’s premier rocket launch company Arianespace on condition that the companies implement measures to prevent the exchange of sensitive information.
- The companies agree to put in place firewalls between Airbus and Arianespace to prevent information flows that could hurt competitors, not to share information about outside companies with each other that does not apply to the daily operation of the business, and to restrict employee mobility between the companies.
- The EU decision, which was expected, likely will result in Airbus Safran's payment of ~€150M ($166M) to the French space agency CNES, which holds the 35% stake on behalf of the French government.
Tue, Jul. 19, 8:39 AM
- Airbus (OTCPK:EADSY) will deliver just over half the A400M military transport planes Germany was set to receive this year, exacerbating delays in the troubled model and raising the prospect of further writedowns for the manufacturer.
- A preliminary delivery plan Airbus presented to the country's Defense Ministry indicates the company will deliver five A400Ms in 2016, instead of the nine agreed on earlier.
Mon, Jul. 18, 7:23 AM| Mon, Jul. 18, 7:23 AM
Sun, Jul. 17, 5:43 AM
- Egyptian officials on Saturday disclosed that the word "fire" is clearly audible on the cockpit voice recording from EgyptAir Flight 804, but there are no clear answers so far about the sequence of events that brought down the jetliner.
- The Airbus A320 (OTCPK:EADSY) crashed into the Mediterranean Sea almost two months ago, en route from Paris to Cairo, killing all 66 people on board.
Thu, Jul. 14, 8:50 AM
- Airbus (OTCPK:EADSY) won a total of 279 orders and commitments worth $35B at this week's Farnborough Airshow. The deals comprise firm orders for 197 aircraft worth $26.3B and commitments for 82 aircraft worth $8.7B.
- Boeing (NYSE:BA) was awarded orders and commitments for 182 aircraft worth a total of $26.8B. The deals comprise firm orders for 62 aircraft worth $7.6B and commitments for 120 aircraft worth $19.2B.
Wed, Jul. 13, 9:57 AM
- Despite taking home more orders at the U.K. Airshow today, Boeing (BA +0.1%) still remains far behind rival Airbus (OTCPK:EADSY +2.2%), which landed a massive order yesterday from AirAsia.
- The French planemaker's total at the end of Tuesday was 223 planes valued at $28.3B, while Boeing had only received 121 orders valued at $13.7B.
Wed, Jul. 13, 8:10 AM
- Airbus (OTCPK:EADSY) does not expect its A380 superjumbo program to fall massively into the red as a result of its decision to cut production, and is optimistic about long-term prospects for the jet.
- "We work hard to be profitable or breakeven at lower rates. How far we can bring it down, we will have to see," CEO Tom Enders said. "I hope that this is only a year or two and then we can raise production rates again."
Tue, Jul. 12, 7:07 PM
- Honeywell (NYSE:HON) and Airbus (OTCPK:EADSF, OTCPK:EADSY) have agreed to develop an integrated system to keep jetliners from running off the ends of runways during landings, with an announcement possibly coming as soon as tomorrow, WSJ reports.
- Such a system would meet impending European safety rules to combat runway overruns while effectively circumventing opposition by Boeing (NYSE:BA) and the U.S. FAA to joint U.S.-European standards or mandatory regulations, according to the report.
- Airbus has said runway overruns are to blame for about one-third of all airliner accidents worldwide.
Tue, Jul. 12, 2:48 PM
- Airbus (OTCPK:EADSF, OTCPK:EADSY) says it will cut deliveries of the superjumbo A380 jetliner to about one per month starting in 2018 amid weak demand.
- Airbus says it plans to build only 12 A380 planes from 2018, down from 27 in 2015; it expects the program to break even this year and again in 2017 while building 20 aircraft.
- Airbus, which once predicted carriers would buy 1,200 of the supersize planes over two decades, has delivered 193 A380s since the plane's 2007 introduction and has ~126 in its order book to be built over the next five years or so.
- "The A380 is here to stay," Airbus CEO Fabrice Bregier says, but Hans Weber of Tecop International, a consultancy focusing on aviation safety and security, thinks "it's the beginning of the end" for the 380. "Airbus has been really struggling to get any new orders and this year it looks particularly grim.”
Tue, Jul. 12, 12:12 PM
- Airbus (OTCPK:EADSF, OTCPK:EADSY) sales chief John Leahy says the company needs to increase production to satisfy a backlog for more than 6K planes even though demand for new planes is slowing.
- “The ramp-up is still warranted,” Leahy said today at the Farnborough air show.
- Airbus has said it plans to build 60 A320 single-aisle planes/month in 2019, up from the mid-40s today, and Leahy says “we need every one of the aircraft being built up to rate 60 and even beyond;” he says he also is eager for the company to build more A350 long-range jets to satisfy demand.
- Leahy admits that it has been a challenge to book new orders for the A380 superjumbo, but the company is in talks with several buyers for the double-decker plane; Boeing also has struggled to sell its 747-8 jumbo jet.
Tue, Jul. 12, 9:01 AM| Tue, Jul. 12, 9:01 AM | 1 Comment
Mon, Jul. 11, 2:57 PM
- Qatar Airways says it is in talks about purchasing a "large number" of Boeing (BA +1.6%) 737 Max aircraft amid a dispute with Airbus (OTCPK:EADSF, OTCPK:EADSY) over unresolved faults with its A320neo model.
- The airline, which has canceled delivery of one A320neo due to glitches with engines made by Pratt & Whitney, will continue rejecting the plane until the issues are fixed, CEO Akbar Al Baker said today at the Farnborough International Airshow.
- The airline CEO also is concerned about delivery rates of Airbus’s A350 wide-body, and says he is not sure that Airbus will be able to meet its target of handing more than 50 of the model to customers this year.
European Aeronautic Defence & Space Co (EADS) is a global aerospace, defence and related services corporation. Co.'s operations include the aircraft manufacturer Airbus, the helicopter supplier Eurocopter and the joint venture MBDA, an international supplier of missile systems. Co. is the major... More
Sector: Industrial Goods
Industry: Aerospace/Defense Products & Services
Other News & PR