Wed, Aug. 17, 10:10 AM
- Forget about self-driving cars, Airbus (OTCPK:EADSY -1.4%) is designing a self-flying taxi that would make commuting easier in traffic-heavy cities.
- "I'm no big fan of Star Wars, but it's not crazy to imagine that one day our big cities will have flying cars making their way along roads in the sky," said CEO Tom Enders. "In a not too distant future, we'll use our smartphones to book a fully automated flying taxi that will land outside our front door - without any pilot."
- Airbus aims to conduct its first flight tests of its prototype vehicle, named CityAirbus, by 2017.
Mon, Aug. 8, 2:31 AM
- Britain's Serious Fraud Office has launched a formal investigation into suspected fraud, bribery and corruption in connection with commercial plane sales by Airbus (OTCPK:EADSY), escalating a probe that had been simmering for months.
- The move comes after U.K. Export Finance suspended the issue of export credits to the French planemaker, citing discrepancies in declarations on the use of third-party intermediaries during sales negotiations.
- Airbus shares are down more than 17% since the start of the year.
Fri, Aug. 5, 5:26 PM
- Qantas Airways (OTCPK:QUBSF), which was one of the first customers for the Airbus (OTCPK:EADSF, OTCPK:EADSY) A380, says it will not take the remaining eight jets it still has on order because the 12 it now operates are sufficient to meet demand.
- Qantas, which had looked to become one of the biggest buyers of the double-decker superjumbo jet, instead joins Virgin Atlantic and other customers that have not outright canceled orders but are unlikely ever to have them fulfilled; the move leaves Emirates of Dubai as the one committed buyer of the aircraft.
- The market for jumbo jets has been so slow that Boeing (NYSE:BA) said last week that it may stop production of the 747 by the end of the decade.
Thu, Aug. 4, 5:57 PM
- As the U.S. Treasury Department decides whether to license sales of Boeing (NYSE:BA) and Airbus (OTCPK:EADSF, OTCPK:EADSY) commercial aircraft to Iran, opponents of last year's nuclear pact with the country have intensified a lobbying campaign against the deals, Reuters reports.
- Opponents in the U.S. Congress want to block proposed sales of ~200 jetliners, worth ~$50B at list prices, to renew Iran Air's aging fleet, with some arguing that Iran could use passenger aircraft for military purposes such as transporting fighters to battle U.S. troops or allies in Syria or elsewhere.
- A letter this week from the Foundation for Defense of Democracies, a Washington foreign policy research group, included signatures of dozens of national security figures such as former Sec. of State Shultz, former CIA Director Hayden and former U.S. Sen. Lieberman.
- Aviation industry experts say the U.S. is not likely to approve the sales until after the Nov. 8 presidential election, although the companies would like to move more quickly.
Thu, Aug. 4, 2:24 PM
- Airbus (OTCPK:EADSF, OTCPK:EADSY) almost entirely closed the orders gap with Boeing (BA -0.5%) in July after booking about half of the 197 firm sales unveiled at the Farnborough Airshow, Reuters reports, analyzing the latest data from both companies.
- Amid a broad slowdown in airline purchases, Airbus says it sold 373 jets between January and July, or 323 after adjusting for cancellations, compared with 383 airplane sales, or 333 after cancellations, tallied by Boeing.
- Airbus did not include in its latest monthly tally an order for 100 Airbus jets from AirAsia that was announced as a firm order Farnborough; the company says paperwork for the deal, which would put Airbus ahead if completed, is still being finalized.
- While Boeing clings to a lead in the race for new orders, it remains strongly ahead on deliveries, handing over 432 jets YTD vs. 229 for Airbus.
Mon, Aug. 1, 8:02 AM
- The biggest customer for Airbus's (OTCPK:EADSY) A320neo jets is considering slowing deliveries of the single-aisle aircraft to give supplier Pratt & Whitney more time to upgrade the model's engines.
- IndiGo's A320neo orders currently total 430 planes, with the first aircraft handed over in March.
- Airbus's stock has dropped 16% this year, valuing the planemaker at €40.3B.
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.
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
Industry: Aerospace/Defense Products & Services