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Boeing plans to cut 17,000 jobs, or 10% of its workforce, and delay the launch of its 777X wide-body plane to 2026 amid mounting losses and a month-long machinists' strike
Oct. 11, 2024 - The strike has cost Boeing over $1B monthly, adding pressure to CEO Kelly Ortberg, who is navigating financial setbacks and labor disputes just two months into his role. Boeing also announced it will stop producing 767 freighters in 2027 and anticipates a significant third-quarter loss, with cash outflows and challenges in maintaining its credit rating. (CNBC)
Oct. 11, 2024 - The strike has cost Boeing over $1B monthly, adding pressure to CEO Kelly Ortberg, who is navigating financial setbacks and labor disputes just two months into his role. Boeing also announced it will stop producing 767 freighters in 2027 and anticipates a significant third-quarter loss, with cash outflows and challenges in maintaining its credit rating. (CNBC)
Triumph Group is exploring a potential sale with interest from private equity and strategic buyers
Oct. 10, 2024 - Triumph, an aircraft components maker, is working with a financial adviser to solicit acquisition interest from strategic buyers as well as private equity firms, said the people, who asked not to be identified discussing confidential matters. (Bloomberg)
Oct. 10, 2024 - Triumph, an aircraft components maker, is working with a financial adviser to solicit acquisition interest from strategic buyers as well as private equity firms, said the people, who asked not to be identified discussing confidential matters. (Bloomberg)
Airbus is facing supply chain issues with Spirit AeroSystems, risking delays in A350 and A220 jet deliveries next year
Oct. 10, 2024 - To mitigate risks, Airbus has deployed extra resources, including airlifting parts and embedding staff in Spirit's facilities. Despite Spirit's assurance that deliveries remain on schedule, analysts have lowered Airbus' delivery forecasts, and Airbus plans to acquire two Spirit plants as part of a broader restructuring with Boeing. (Reuters)
Oct. 10, 2024 - To mitigate risks, Airbus has deployed extra resources, including airlifting parts and embedding staff in Spirit's facilities. Despite Spirit's assurance that deliveries remain on schedule, analysts have lowered Airbus' delivery forecasts, and Airbus plans to acquire two Spirit plants as part of a broader restructuring with Boeing. (Reuters)
Air India has ordered 85 Airbus jets, with sources indicating ongoing talks for additional Boeing purchases, following its recent order of nearly 500 aircraft from both manufacturers
Oct. 10, 2024 - This expansion aligns with Tata Group's efforts to revive the airline after reacquiring it in 2021, though challenges remain amidst competition, supply disruptions, and geopolitical concerns. The announcement coincides with the passing of Ratan Tata, the aviation visionary and former Tata chairman. (Reuters)
Oct. 10, 2024 - This expansion aligns with Tata Group's efforts to revive the airline after reacquiring it in 2021, though challenges remain amidst competition, supply disruptions, and geopolitical concerns. The announcement coincides with the passing of Ratan Tata, the aviation visionary and former Tata chairman. (Reuters)
The Defense Innovation Unit has appointed Lieutenant Colonel Raj M. Shah as Director of its Joint Reserve Detachment
Oct. 9, 2024 - Shah, an experienced entrepreneur and combat veteran, aims to scale the JRD’s strategic impact by leveraging reservists with dual expertise in both sectors. His leadership aligns with DIU’s mission to accelerate innovation for the Department of Defense through focus, speed, and partnerships. (Defense Innovation Unit)
Lockheed Martin has appointed Chauncey McIntosh as the new vice president and general manager of the F-35 Lightning II Program replacing Bridget Lauderdale
Oct. 9, 2024 - McIntosh, who has over 20 years of experience in program management, will focus on enhancing customer experiences and improving the F-35's capabilities amidst challenges such as the delayed rollout of the Technology Refresh 3 upgrade. (Reuters)
Oct. 9, 2024 - McIntosh, who has over 20 years of experience in program management, will focus on enhancing customer experiences and improving the F-35's capabilities amidst challenges such as the delayed rollout of the Technology Refresh 3 upgrade. (Reuters)
Poland has secured a $3.08 billion Foreign Military Financing loan from the US to acquire AH-64E Apache helicopters as part of its military modernization
Oct. 8, 2024 - This is the third FMF loan extended to Poland in recent months, bringing the total to $7.08 billion, solidifying its status as the largest FMF beneficiary. The deal strengthens Poland’s defense capabilities and further enhances ties between the US and Poland. (Army Technology)
Oct. 8, 2024 - This is the third FMF loan extended to Poland in recent months, bringing the total to $7.08 billion, solidifying its status as the largest FMF beneficiary. The deal strengthens Poland’s defense capabilities and further enhances ties between the US and Poland. (Army Technology)
Anduril secured a $250M Pentagon contract to supply 500 Roadrunner drone interceptors and Pulsar electronic-warfare systems to counter drone threats against U.S. forces
Oct. 8, 2024 - This deal follows a prior $1B contract with U.S. Special Operations Command, further solidifying Anduril’s role in developing scalable counter-drone solutions. The Pentagon’s growing focus on drone defense is aligned with its broader efforts, such as the Replicator initiative, to address evolving unmanned aerial threats from adversaries like Iran. (Defense News)
Oct. 8, 2024 - This deal follows a prior $1B contract with U.S. Special Operations Command, further solidifying Anduril’s role in developing scalable counter-drone solutions. The Pentagon’s growing focus on drone defense is aligned with its broader efforts, such as the Replicator initiative, to address evolving unmanned aerial threats from adversaries like Iran. (Defense News)
Honeywell announced plans to spin off its advanced materials division into a $10B publicly-traded company, allowing it to focus on aviation, automation, and energy transition
Oct. 8, 2024 - Similar to GE's recent spinoffs, this aims to boost financial flexibility and organic growth, while Honeywell continues aggressive capital deployment through acquisitions. (Investor's Business Daily)
Oct. 8, 2024 - Similar to GE's recent spinoffs, this aims to boost financial flexibility and organic growth, while Honeywell continues aggressive capital deployment through acquisitions. (Investor's Business Daily)
GE Aerospace expanded its Greenville, South Carolina facility to address increased demand for turbine blades, driven by the success of engines like the GE90 and GEnx
Oct. 7, 2024 - The plant grew significantly, leveraging a "teaming" culture that emphasizes workforce flexibility and continuous improvement. As production needs increase, Greenville continues to innovate by adopting lean principles, upgrading technologies, and enhancing collaboration between engineers and technicians, positioning it for future growth. (Aerospace Manufacturing)
Oct. 7, 2024 - The plant grew significantly, leveraging a "teaming" culture that emphasizes workforce flexibility and continuous improvement. As production needs increase, Greenville continues to innovate by adopting lean principles, upgrading technologies, and enhancing collaboration between engineers and technicians, positioning it for future growth. (Aerospace Manufacturing)
