Tue, Sep. 13, 5:06 PM
- Boeing (NYSE:BA) and Saab (OTC:SAABF) today unveiled their entry into the U.S. Air Force's $11B competition for a new jet to train fighter and bomber pilots, with the company’s St. Louis hub operations on the line.
- The Boeing-Saab bid faces a fight with Lockheed Martin (NYSE:LMT), Northrop Grumman (NYSE:NOC) and Raytheon (NYSE:RTN) for the contract to produce 351 jets through the T-X advanced trainer program, and the winning entry will replace the aging T-38 fleet on which U.S. military pilots have honed their flying skills since 1961.
- The Air Force is not expected to release its final criteria until December, picking a winner next year who would begin production in fiscal 2018, and the new trainer is not spected to begin preparing a new generation of pilots for combat for another eight years.
Tue, Sep. 13, 3:36 AM
- Chinese airlines are likely to purchase 6,810 planes worth $1.025T in the next 20 years as they expand fleets to cater to a robust growth in tourism, Boeing (NYSE:BA) declared, raising its forecast from last year by 7.6%.
- The U.S. planemaker will also unveil its T-X trainer plane today, designed jointly with Sweden's Saab AB (OTC:SAABF).
- The company is counting on the model to train generations of U.S. fighter pilots, and keep alive its St. Louis manufacturing base.
Nov. 9, 2015, 7:47 AM
- Boeing: Jet Airways placed an order for seventy five 737 max aircraft, estimated to be worth around $8.2B. Boeing is also entering a JV partnership with Tata Advanced Systems to build fuselages for the AH-64 Apache attack helicopter in India.
- Airbus: IAG firmed up orders for 19 additional widebody and single aisle aircraft. Airbus is also studying whether there is demand for a larger member of its A350 jet family and expects to make up its mind within a couple of months.
- GE Aviation: Emirates signed a $16B agreement for maintenance and repair of GE9X engines to power its fleet of 150 Boeing 777X aircraft over 12 years.
- Lockheed Martin: The U.S. Air Force awarded the company a $262.8M contract to service Saudi Arabia's F-15 sniper targeting system.
- Saab: The UAE announced a $1.3B deal for upgraded surveillance systems aboard its new Bombardier planes.
- Embraer: Lebanon confirmed the acquisition of six A-29 Super Tucano turboprop aircraft.
- The Dubai Air Show runs until Thursday, November 12.
- Previously: Jet orders grounded at the Dubai Air Show (Nov. 09 2015)
Oct. 26, 2015, 7:08 PM
- Fresh off its political victory, Canada's incoming Liberal government will totally restart a competition for fighter jets, as incoming Prime Minister Justin Trudeau had suggested.
- The country is looking to replace its aging CF-18 aircraft, and the outgoing Conservatives had proposed buying Lockheed Martin's (NYSE:LMT) F-35 stealth fighters. But a Liberal source says the party will put out a new request for proposals with a new set of requirements for the craft when it takes power Nov. 4.
- The competition will be fresh, the source suggested, rather than simply going with another choice like Boeing's (NYSE:BA) F/A-18E/F jets. Those jets are expected to end production by 2019 if not earlier, and Canada's reset could mean that choosing the CF-18's replacement could take years.
- Other contenders: Dassault Aviation (OTC:DUAVF), Saab (OTC:SAABF), and a combination of BAE Systems (OTCPK:BAESY), Finmeccanica (OTCPK:FINMY) and Airbus (OTCPK:EADSY).
- Lockheed is down 0.7% after hours; Boeing is up 0.2%.
- Previously: F-35 jet cost to rise if Canada skips orders (Oct. 22 2015)
- Previously: Trudeau's election threatens Canada's F-35 program (Oct. 21 2015)
May 26, 2015, 8:06 AM
- DigitalGlobe (NYSE:DGI) and Saab (OTC:SAABF) have announced a new joint venture aimed at building an accurate 3-D model of the earth.
- "We feel this is a multibillion-dollar opportunity," DigitalGlobe's Tony Frazier said. "We're going to literally produce the entire globe at unmatched accuracy."
- The new venture will use Saab's 3-D computer processing technology and DGI's archive of billions of square kilometers of high-quality satellite imagery to create 3-D models of of the globe.
May 12, 2015, 3:26 PM
- Boeing (BA -0.1%) is not planning big changes in its defense and space business or a major deal if it fails to win a share of upcoming Pentagon weapons contracts potentially worth more than $100B, CEO Jim McNerney tells investors.
- The competition to win deals to build new long-range bombers and jet trainers for the U.S. Air Force, as well as large drones for the Navy, to replace declining sales of fighter jets is viewed by analysts as a must-win for Boeing and its partners in the contest, Lockheed Martin (NYSE:LMT) and Saab (OTC:SAABF); a contract award is expected this summer.
- Wes Bush, McNerney's counterpart at Northrop (NYSE:NOC), also has rejected suggestions that the bomber contest could prompt another round of industry consolidation.
- PDF: Investor presentation
- Earlier: Highlights from Boeing's annual investor conference
Apr. 15, 2015, 8:57 AM
Oct. 27, 2014, 3:48 AM| Oct. 27, 2014, 3:48 AM
Jul. 21, 2014, 10:41 AM| Jul. 21, 2014, 10:41 AM | 11 Comments
Jun. 30, 2014, 11:55 AM
- Saab (SAABF) agrees to acquire ThyssenKrupp's (TYEKY, TYEKF) Swedish marine defense unit for 340M kroner ($50.5M), expanding its business to manufacturing submarines and stealth technology corvettes.
- Saab and ThyssenKrupp have been in talks since April over the purchase, after the Swedish government said it wanted to ensure that it had domestic submarine-production capability.
- Saab hasn't built manned submarines, although it has other naval activities, including production of unmanned underwater vehicles.
May 19, 2014, 7:46 AM
- Saab (SAABF) shares are -1.5% in Stockholm after 53.4% of Swiss voters rejected an order of 3.1B francs for 22 new Gripen fighter jets made by the Swedish company.
- The development of the Gripen E is dependent on an export order of at least 20 jets. The company is still finalizing a booking of 36 Gripen aircraft with Brazil.
- Also see: Swiss vote against minimum wage
May 18, 2014, 2:29 AM
- The Swiss are going to the polls today to vote on whether to approve a minimum wage of 22 francs ($25) an hour, which would be the highest in the world.
- The measure would affect the one-in-ten workers who earn below the 4,000 francs that the initiative stipulates.
- Businesses are against the union-backed proposal, saying it would force more people into part-time jobs and increase Switzerland's 3.2% unemployment rate. Polls show 64% of voters are against the initiative.
- Still, major corporations that could be affected include UBS (UBS), Credit Suisse (CS), Roche (RHHBY), Novartis (NVS), ABB (ABB), Glencore Xstrata (GLCNF) and Nestle (NSRGY).
- The referendum is the latest nationwide ballot relating to business. In March last year, voters authorized giving shareholders more say over executive pay but rejected a measure in November to cap management salaries.
- The Swiss are also voting today over whether to spend 3.1B francs on 22 new Saab (SAABF) fighter jets.
- ETFs: FXF, EWL, FSZ
Apr. 14, 2014, 9:11 AM
- Saab (SAABF) says it is in preliminary talks to buy ThyssenKrupp's (TYEKY, TYEKF) Swedish shipyard, underscoring its bid to become a serious player in the submarine and naval ships business.
- Neither company discloses the potential value of the deal, saying negotiations are at an early stage; ThyssenKrupp Marine Systems, formerly known Kockums, had a total revenue of 1.68B Swedish kroner ($256M) in 2013.
- Saab, unaffiliated with the car company with the same name, is best known for building fighter jets and other defense systems.
Mar. 24, 2014, 2:58 PM
- A dispute between the Swedish armed forces and ThyssenKrupp (TYEKY, TYEKF) has prompted the country to pull contracts for the next generation of submarines from the world's largest exporter of non-nuclear submarines and threatens one of the company's most profitable operations.
- Sweden has signaled that it is considering giving the work to Saab (SAABF), which currently doesn't even build manned submarines.
- Swedish officials are said to be upset that their country hasn't exported a new submarine since Swedish submarine maker Kockums was integrated into ThyssenKrupp in 2005, WSJ reports.
Dec. 19, 2013, 4:22 AM
- Boeing (BA) has lost out on a 10-year $4.5B contract to supply 36 fighter jets to Brazil, which has chosen Saab's (SAABF) Gripen over the U.S. plane maker's F-18 Super Hornet.
- Brazilian Defense Minister Celso Amorim said the government chose Saab because it agreed to share more technology and because many of the parts would be made in the country. The Gripen is also cheaper than the F-18 to buy and operate.
- Amorim sidestepped a question over whether the Edward Snowden spying revelations - about which Brazil is furious - were a factor.
Mar. 4, 2013, 5:00 AM
Canada has asked Boeing (BA), Lockheed Martin (LMT) and three other companies to provide information about their fighter jets as the country looks to replace its aging fleet of Boeing CF-18 Hornets. The government had said in 2010 that it would buy Lockheed's F-35 planes, but spiraling costs have prompted it to revisit the process. The other contenders are EADS, Saab and Dassault.| Mar. 4, 2013, 5:00 AM | 4 Comments