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Lilium has confirmed that its subsidiaries, Lilium GmbH and Lilium eAircraft GmbH, will file for insolvency after failing to secure a €100M loan from the German government
Oct. 25, 2024 - The parent company, Lilium N.V., is also considering its own insolvency, as it was unable to reach an agreement for additional funding, leaving the subsidiaries unable to pay their debts. Despite these challenges, Lilium hopes to initiate a self-administration process to preserve the business and potentially attract new investors. (Aero Time)
Oct. 25, 2024 - The parent company, Lilium N.V., is also considering its own insolvency, as it was unable to reach an agreement for additional funding, leaving the subsidiaries unable to pay their debts. Despite these challenges, Lilium hopes to initiate a self-administration process to preserve the business and potentially attract new investors. (Aero Time)
The U.S. GAO Office has warned that the Department of Defense is spending billions to maintain tactical aircraft but failing to meet readiness goals, particularly within the Air Force
Oct. 24, 2024 - Despite a 27% increase in operations and maintenance spending from FY18 to FY23, mission-capable rates for key aircraft like the F-15E and F-35A remain low, while aging fleets like the F-15C and F-16C have occasionally met their goals. The challenges stem from factors like aging aircraft, maintenance issues, and delayed new acquisitions, leading to rising costs and reduced capabilities. (Clearance Jobs)
Oct. 24, 2024 - Despite a 27% increase in operations and maintenance spending from FY18 to FY23, mission-capable rates for key aircraft like the F-15E and F-35A remain low, while aging fleets like the F-15C and F-16C have occasionally met their goals. The challenges stem from factors like aging aircraft, maintenance issues, and delayed new acquisitions, leading to rising costs and reduced capabilities. (Clearance Jobs)
Boeing anticipates continued cash burn next year, reporting quarterly losses of $6B due to the strike halting production of key air, leading to nearly $8B in losses for the year
Oct. 23, 2024 - CEO Kelly Ortberg emphasized the need for a fundamental culture change and operational improvements, while also hinting at potential asset sales and an equity raise to stabilize the company's finances. (Reuters)
Oct. 23, 2024 - CEO Kelly Ortberg emphasized the need for a fundamental culture change and operational improvements, while also hinting at potential asset sales and an equity raise to stabilize the company's finances. (Reuters)
Boeing machinists rejected the company’s latest contract offer, extending their strike beyond six weeks as they demand better pensions and higher wages
Oct. 23, 2024 - The ongoing strike has contributed to Boeing’s massive $6 billion third-quarter loss, with the company also facing preexisting production and quality issues. CEO Kelly Ortberg emphasized stabilizing the business and rebuilding company culture as critical next steps. (NPR)
Oct. 23, 2024 - The ongoing strike has contributed to Boeing’s massive $6 billion third-quarter loss, with the company also facing preexisting production and quality issues. CEO Kelly Ortberg emphasized stabilizing the business and rebuilding company culture as critical next steps. (NPR)
Boeing’s defense business remains essential to its future despite struggles with cost overruns, delayed contracts, and leadership challenges
Oct. 23, 2024 - Programs like the KC-46 tanker and Air Force One upgrades have incurred billions in losses, compounded by setbacks in the Starliner spacecraft and NASA’s SLS rocket. CEO Kelly Ortberg aims to streamline operations, improve cost management, and potentially exit some defense ventures while focusing on core products and divestitures to stabilize the company. (Reuters)
Lockheed Martin faces financial strain from delays in F-35 contracts and issues with the TR-3 upgrade, which has impacted jet deliveries and resulted in withheld government payments
Oct. 22, 2024 - Despite delivering fewer jets in 2024, the company expects production to recover in the coming years and hopes to recoup losses as withheld payments are released starting in 2025. Meanwhile, lawmakers have introduced a resolution criticizing Lockheed's performance and calling for greater accountability over the F-35 program. (Defense News)
Oct. 22, 2024 - Despite delivering fewer jets in 2024, the company expects production to recover in the coming years and hopes to recoup losses as withheld payments are released starting in 2025. Meanwhile, lawmakers have introduced a resolution criticizing Lockheed's performance and calling for greater accountability over the F-35 program. (Defense News)
Emirates has ordered five Boeing 777F freighters and will decide by year-end whether to purchase additional Boeing or Airbus models for its fleet beyond 2028
Oct. 21, 2024 - The airline also extended leases on four existing 777Fs and reaffirmed plans to convert 10 passenger 777-300ERs into freighters with Israel Aerospace Industries, despite recent geopolitical tensions. Emirates remains one of the world’s largest Boeing 777 operators, aligning with Boeing's forecast of growing demand for freighters over the next two decades. (Reuters)
Oct. 21, 2024 - The airline also extended leases on four existing 777Fs and reaffirmed plans to convert 10 passenger 777-300ERs into freighters with Israel Aerospace Industries, despite recent geopolitical tensions. Emirates remains one of the world’s largest Boeing 777 operators, aligning with Boeing's forecast of growing demand for freighters over the next two decades. (Reuters)
