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Boeing's new CEO, Kelly Ortberg, faces the imminent threat of a strike by the International Association of Machinists which represents 33,000 workers
Aug. 31, 2024 - The union is demanding significant wage increases and benefits, with a strike potentially disrupting Boeing's already struggling production rates. While a strike could allow Boeing to make needed assembly adjustments, it could also have severe financial repercussions if prolonged, further impacting the company’s recovery efforts and competitiveness with Airbus. (Forbes)
Aug. 31, 2024 - The union is demanding significant wage increases and benefits, with a strike potentially disrupting Boeing's already struggling production rates. While a strike could allow Boeing to make needed assembly adjustments, it could also have severe financial repercussions if prolonged, further impacting the company’s recovery efforts and competitiveness with Airbus. (Forbes)
The U.S. State Department has reached a $200M settlement with defense contractor RTX over 750 violations of ITAR export rules
Aug. 30, 2024 - These violations, disclosed voluntarily by RTX, included incidents where workers accessed ITAR-controlled data in sanctioned nations like Iran and Russia, posing risks to U.S. national security. RTX has since cooperated with the investigation and implemented significant compliance improvements. (Breaking Defense)
Aug. 30, 2024 - These violations, disclosed voluntarily by RTX, included incidents where workers accessed ITAR-controlled data in sanctioned nations like Iran and Russia, posing risks to U.S. national security. RTX has since cooperated with the investigation and implemented significant compliance improvements. (Breaking Defense)
Airbus and Lockheed Martin have both withdrawn from the UK's New Medium Helicopter procurement, leaving Leonardo as the sole bidder for the $1.3B program
Aug. 30, 2024 - The companies cited concerns about meeting the UK's requirements and future industrial sustainability. Leonardo remains committed to the bid, but the UK may consider re-competing the contract amid this unexpected development. (Breaking Defense)
Aug. 30, 2024 - The companies cited concerns about meeting the UK's requirements and future industrial sustainability. Leonardo remains committed to the bid, but the UK may consider re-competing the contract amid this unexpected development. (Breaking Defense)
Lockheed Martin and Raytheon's joint venture secured a $1.3 billion contract from the U.S. Army to produce over 4,000 Javelin missiles, largely to replenish stocks sent to Ukraine
Aug. 29, 2024 - This deal is part of a broader contract, potentially reaching $7.2 billion by 2026, as demand for U.S. weaponry remains high due to the ongoing Ukraine-Russia conflict. (Reuters)
HEICO is thriving in the commercial aerospace aftermarket, driven by high demand for replacement parts and strategic acquisitions, including a $2 billion deal with Wencor
Aug. 27, 2024 - Despite a slowdown in original equipment orders, HEICO's strong defense demand and robust M&A pipeline are expected to sustain growth. The company’s recent acquisition of Capewell Aerial Systems further solidifies its market position, with analysts confident in the continued strength of the aftermarket. (Aviation Week)
Aug. 27, 2024 - Despite a slowdown in original equipment orders, HEICO's strong defense demand and robust M&A pipeline are expected to sustain growth. The company’s recent acquisition of Capewell Aerial Systems further solidifies its market position, with analysts confident in the continued strength of the aftermarket. (Aviation Week)
Boeing faces uncertainty over the future of its Starliner spacecraft after a prolonged mission exposed glitches and delays
Aug. 27, 2024 - While NASA expresses confidence in Boeing’s commitment to fly Starliner again, industry experts suggest Boeing might reconsider its focus on human space missions. As Boeing grapples with challenges across its portfolio, the company’s future in space remains in question. (NPR)
Aug. 27, 2024 - While NASA expresses confidence in Boeing’s commitment to fly Starliner again, industry experts suggest Boeing might reconsider its focus on human space missions. As Boeing grapples with challenges across its portfolio, the company’s future in space remains in question. (NPR)
StandardAero, a Carlyle portfolio company, has acquired Aero Turbine, a military MRO provider, from Gallant Capital for an undisclosed amount
Aug. 26, 2024 - This marks StandardAero's 13th acquisition since 2015, amid speculation of a potential public offering or sale. The deal highlights increasing private equity interest in the aviation MRO sector, which is expected to see significant growth. (Aviation Week)
Aug. 26, 2024 - This marks StandardAero's 13th acquisition since 2015, amid speculation of a potential public offering or sale. The deal highlights increasing private equity interest in the aviation MRO sector, which is expected to see significant growth. (Aviation Week)
