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STX:AIR, Feb 21, 09:27 UTC

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Airbus investing up to 1 bln euros on A220 passenger jet program this year

AIR

Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. Airbus investing up to 1 bln euros on A220 passenger jet program this year. Feb 20 (Reuters) - Airbus SE plans to invest between 500 million euros and 1 billion euros ($539 million-$1.08 billion) this year on its A220 passenger jet program, Chief Executive Guillaume Faury said on Thursday at the company's A220 factory in Canada. Earlier in February, Airbus raised its stake in the A220 program - known as Airbus Canada - to 75% from 50.1% after teaming up with the government of the Canadian province of Quebec to buy Bombardier's 33.5% stake.

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SWISS Takes Delivery Of Its First Airbus A320neo - Simple Flying

AIR LHA

The Lufthansa group airline collected the aircraft from a gloomy-looking Hamburg earlier today. As Airbus continues churning out A320neo aircraft, more and more airlines are taking delivery of their first from the type. For example, last week we saw Greek airline Aegean reveal its new livery on the first Neo it received. The airline has 25 of the aircraft on order, meaning that 24 remain outstanding. These are registered from D-AINA to D-AINX. However, D-AINS is missing from the collection for some reason. The airline’s youngest fleet is the Airbus A220 with an average age of just 2.3 years, however, last year SWISS was forced to temporarily ground this fleet of aircraft. What sets the Airbus A320neo apart from the A320?

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Kuwait's Parliament Investigates Airbus Aircraft Purchase Deal

AIR

Kuwait's parliament on Wednesday formed a committee to probe alleged corruption in a deal between the national carrier and Airbus, which last month paid massive fines to settle bribery scandals. The parliament's decision came after a special debate on allegations that Airbus made illegal payments to secure a 25-aircraft deal six years ago. It also called on the Audit Bureau to investigate the deal, which was reportedly worth billions of dollars, although exact figures were not released. Kuwait in recent years also initiated criminal investigations into two large military aircraft deals involving Airbus -- a $9 billion Eurofighter Typhoon warplanes deal and a contract for 30 Caracal military helicopters costing $1.2 billion.

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Airbus bribery suspect sent money to Nimal Perera - State Counsel

AIR

Airbus bribery suspect sent money to Nimal Perera – State Counsel. Wijenayake and her husband former Chief Executive of SriLankan Airlines Kapila Chandrasena are accused of money-laundering centred on an alleged bribe paid to them by Airbus for SriLankan to purchase passenger aircraft from the France-based company. Additional Solicitor-General Thusitha Mudalige appearing for the state also informed the court that Nimal Perera’s name has come up in the alleged money-laundering case against MP Namal Rajapaksa (B195/16) being heard in the same court presided over by Magistrate Ranga Dissanayake. Anuja Premaratne PC along with Shenal Matugama, Kaushalya Rajapaksha, Yasas Ekanayake, Attorney-at-Law Nalin Ladduwahetty with Kavithri Ubeysekara appeared for the accused. ASG Mudalige told the court that investigations are underway regarding the transfer for US dollars two million to an account operated by Wijenayake under her company called Biz Solutions and the subsequent transfer of funds from that account to various banks in Sri Lanka.

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Wednesday, February 19


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Airbus defence division plans to cut more than 2,300 jobs

AIR TRI

Feb 19 (Reuters) - The defence business of Airbus AIR.PA on Wednesday laid out plans to cut more than 2,300 jobs, citing a flat space market and postponed defence contracts. The aircraft maker said its Airbus Defence and Space division had entered consultation with the company's European works council on the planned cutbacks. The plan foresees the reduction of 2,362 positions until the end of 2021, of which 829 would be in Germany, 357 in Britain, 630 in Spain, 404 in France and 141 in other countries, according to a statement. The group has also taken a 1.2 billion euro ($1.3 billion) charge on the worsening sales outlook, with a German ban on defence exports to Saudi Arabia causing Airbus Defence and Space to lose a promising potential customer, Dirk Hoke said.

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TriMas Aerospace Wins Airbus Deals, Boosts Fastener Solutions

AIR

The contract is aimed at expanding the company’s fastener product sales activity in Europe.The TriMas Aerospace segment designs and manufactures highly-engineered fasteners, temporary fasteners and standard fasteners to serve the global commercial and military aerospace industry under the Monogram Aerospace Fasteners, Allfast Fastening Systems and Mac Fasteners brands. This buyout will enhance TriMas Aerospace’s product portfolio through the addition of air-ducting products, connectors, flexible joints, ozone converters and machined assemblies, for use in aerospace and defense applications primarily.The company’s collaboration with Airbus supports its growth strategy to expand global customer in commercial and defense aerospace applications. Airbus is a significant fastener solutions customer to TriMas Aerospace and thus, the company expects to further team up with the former on fastener solutions.TriMas will continue to focus on leveraging the TriMas Business Model, in order to improve management and performance of businesses. The company also has a solid pipeline of both product and process innovation that will sustain long-term growth and position its businesses to capitalize on market opportunities and minimize market disruptions.Demand levels in many of TriMas’ end markets are being impacted by uncertainties related to the long-standing U.S-China trade tiff.

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Kuwaiti parliament to investigate Airbus aircraft orders

AIR

Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. (Reuters) - Kuwaiti lawmakers agreed on Wednesday to set up a committee to look into whether Airbus's (AIR.PA) aircraft orders from the Gulf Arab state involved alleged corruption, the state news agency reported. Governments and airlines around the world have launched their own investigations after Airbus on Jan. 31 reached a record $4 billion settlement with prosecutors in Britain, France and United States over alleged bribery and corruption stretching back more than a decade. In Kuwait, a three-member parliamentary committee has been tasked with reviewing Airbus orders and is to submit a report of its findings to the National Assembly within three months, KUNA reported.

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GE, Stung by Boeing Pullback, Pitches for New Business With Airbus

AIR BA

Engine maker is one of biggest suppliers for both plane makers; previously increased production of turbines for Airbus A320 after MAX halt. An Airbus A330-900 aircraft, the longer edition of Airbus A330neo wide-body jet airliner, during the 53rd Paris Air Show on June 21.Photo: Nicolas Economou/Zuma Press. The discussions come in the wake of Boeing’s decision to cut back production of that plane’s rival 787 Dreamliner, according to these people.... General Electric Co. is looking for new business from Airbus SE, as the engine maker’s other big customer, Boeing Co., retrenches. The interest at GE in pitching for Airbus business comes amid a major shift in the aviation industry’s global supply lines, largely due to the prolonged grounding of Boeing’s 737 MAX.

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Kapila Chandrasena and wife further remanded over Airbus deal

AIR

February 19, 2020 - 16:33. Former Chief Executive Officer (CEO) of SriLankan Airlines Kapila Chandrasena and his wife Priyanka Niyomali Wijenayaka who were remanded until today, were ordered to be further remanded until 4th March. Chandrasena and his wife were arrested and remanded on charges of money laundering in the SriLankan Airlines – Airbus deal. The corrupt deal involving aircraft manufacturer Airbus and Sri Lanka was exposed recently. The statement of facts issued on 31 January 2020 as part of the Deferred Prosecution Agreement reached between Airbus and the prosecuting authorities, indicated that Airbus had agreed to pay out a sum of 16.84 Million US dollars to a company registered in Brunei under the wife of an executive at SriLankan Airlines.

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Tuesday, February 18


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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Airbus SE - EADSY; EADSF

AIR

NEW YORK , Feb. 18, 2020 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Airbus SE ("Airbus" or the "Company") (OTCMKTS: EADSY; EADSF). The investigation concerns whether Airbus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. On January 31, 2020 , media outlets reported that Airbus had agreed to a deal with U.S., U.K. and French prosecutors to settle bribery and export-control violations against the Company for €3.6 billion ( $4 billion ). Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct.

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