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☆ European stocks set to open higher; UK GDP figures show economy fell into recession
▼ + stars: | 2024-02-15 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

LONDON — European stock markets are set to open higher Thursday as investors assess U.K. growth figures for the fourth quarter and monitor the flow of corporate earnings. The U.K. economy contracted by 0.3% in the final quarter of 2023, pushing the country into a technical recession after third-quarter growth was revised down to -0.1%. Among the firms reporting, Germany's Commerzbank posted a 55% jump in full-year net profit and its best result for 15 years, as fourth-quarter results slightly outperformed. Planemaker Airbus announced a special dividend of 1 euro per share as it reported higher revenue and orders but a fall in earnings per share.

Persons: Germany's Commerzbank Organizations: Planemaker Airbus Locations: U.K

☆ US FAA tightens aircraft certification oversight after Boeing MAX crashes
▼ + stars: | 2023-11-28 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/2] A Boeing 737 Max aircraft during a display at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. The FAA said Tuesday it was also issuing additional guidance to airplane manufacturers on how to identify safety-critical information and said both new steps will "improve aircraft certification safety." A U.S. House of Representatives report said Boeing failed to classify MCAS as a safety-critical system, which would have attracted greater FAA scrutiny during the certification process, and said the "FAA failed in its oversight of Boeing and its certification of the aircraft." The FAA is still considering whether to certify two additional variants of the MAX - the smaller MAX 7 and larger MAX 10. Last year, the FAA granted Boeing a shorter regulatory compliance program extension than the planemaker sought, so it can ensure the company implements "required improvements."

Persons: Peter Cziborra, David Shepardson Organizations: Boeing, Max, Farnborough, REUTERS, Rights, Federal Aviation Administration, FAA, Airbus, U.S . House, MCAS, Thomson Locations: Farnborough, Britain

☆ Airbus just unveiled the private jet version of its smallest airliner, which is estimated to cost $100 million — see inside the plane
▼ + stars: | 2023-10-20 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

Airbus Corporate Jets debuted its highly-anticipated ACJ TwoTwenty business plane on Monday. The plane is marketed as an "Xtra Large Bizjet" thanks to its expansive capacity. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementThe private jet arm of European planemaker Airbus has unveiled the luxe cabin of its newest business plane — the ACJ TwoTwenty.

Persons: — Organizations: Airbus Corporate Jets, Service, Airbus

☆ Exclusive: Israel's El Al in talks to buy Airbus jets in potentially historic shift
▼ + stars: | 2023-08-10 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

An Israel El Al airlines plane is seen after its landing following its inaugural flight between Tel Aviv and Nice at Nice international airport, France, April 4, 2019. A decision likely would be made early in 2024, Ben Tal Ganancia said. At list prices the investment would be near $4 billion but El Al would likely pay far less after discounts. "It is serious," Ben Tal Ganancia said of the talks with Europe's Airbus. In the second quarter, El Al earned a net $59 million versus net profit of $100 million a year earlier.

Persons: Israel El, Eric Gaillard, Dina Ben Tal Ganancia, Ben Tal Ganancia, El Al, Steven Scheer, Tim Hepher, David Goodman, Mark Potter Organizations: Nice, REUTERS, TEL, Al Israel Airlines, Airbus, El, Boeing, Reuters, El Al, Tel Aviv Stock Exchange, Europe's Airbus, Ben Gurion, Revenue, Ben Gurion International Airport, Thomson Locations: Israel, Tel Aviv, France, TEL AVIV, United States, El, Asia, Australia, North America, Istanbul, Dublin, Tokyo, Mumbai, Fort Lauderdale

Companies Airbus SE FollowWASHINGTON, July 28 (Reuters) - The Justice Department on Friday asked a U.S. judge to dismiss a 2020 criminal case against European planemaker Airbus (AIR.PA) after more than three years. A 2020 deferred prosecution agreement resolved an investigation into charges Airbus violated anti-bribery laws and export controls. The planemaker paid about $4 billion worldwide including about $582 million in U.S. penalties. Under the deal, Airbus agreed to continue to cooperate with the department in any ongoing investigations and prosecutions relating to the conduct and to enhance its compliance program. Reporting by David Shepardson; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: David Shepardson, Conor Humphries Organizations: Airbus, Justice Department, European, European Union, Thomson Locations: WASHINGTON, United States

[1/5] Model of a Pratt & Whitney GTF engine is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit TessierSummarySummary Companies Pratt & Whitney sees 'solid progress' in supply chainSays groundings of GTF-powered fleet peaked in H1Airbus eyes post-show deal for 90 jets with Viva AerobusBoeing signs deals with Akasa Air and LuxairPARIS, June 21 (Reuters) - Jet engine maker Pratt & Whitney flagged "solid progress" in the aerospace supply chain on Wednesday, addressing a key area of concern for planemakers as they continue to rack up orders at the Paris Airshow. Pratt & Whitney President Shane Eddy, who has faced a backlash from airlines over durability problems and a shortage of spare engines, told the air show he was seeing "solid progress" in the supply chain. The European company, and U.S. rival Boeing, continued to sign new deals at the air show. Reporting by Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Pratt & Whitney, Benoit Tessier, Shane Eddy, Planemakers, Avolon, Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna, Mark Potter Organizations: Pratt &, International Paris Air, Le, REUTERS, Viva, Boeing, Akasa Air, Luxair, Jet, Pratt, Whitney, Paris Airshow, Reuters, Airbus, Viva Aerobus, Air India, Raytheon Technologies, Aircraft, Airbus A330neo, Thomson Locations: Le Bourget, Paris, France, Luxair PARIS, Mexican, India

☆ Airbus seeing more predictable industrial rhythm after delays
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, June 4 (Reuters) - European planemaker Airbus (AIR.PA) is seeing a more predictable pattern in its industrial activities and what appears to be the start of a more positive trend in deliveries, Chief Commercial Officer Christian Scherer said. We are seeing a steady increase in our ability to fly planes as they come out of the assembly line," he told Reuters, adding that Airbus was fully focused on operations following recent supply chain disruption. "The industrial rhythm seems to be a little more predictable," he said on the sidelines of an airlines meeting. "The pulse was not the same pulse across the supply chain but there seems to be more harmony now," he added. Airbus and rival Boeing have blamed faltering supply chains for recent delays in jet deliveries, with airlines and leasing companies complaining of erratic changes in schedules.

Persons: Christian Scherer, Scherer, Tim Hepher, Hugh Lawson Organizations: Airbus, Reuters, Boeing, International Air Transport Association, Thomson Locations: ISTANBUL

☆ Airbus says engine maker Pratt facing problems with jet support
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

PARIS, May 3 (Reuters) - The head of planemaker Airbus (AIR.PA) said on Wednesday U.S. engine maker Pratt & Whitney has been struggling to support its fleet of passenger jets with enough spare parts and engines. CEO Guillaume Faury declined comment on a decision by India's third-largest airline, Go First, to file for bankruptcy, which it blamed on problems with the durability of Pratt & Whitney's GTF engines on its Airbus 320neo jets. "This being said, there are issues with in-service support of the GTF that are leading to airlines having planes with temporary issues, and planes 'AOG' (grounded), and this is something that we are very closely monitoring," Faury told reporters during a results briefing. Raytheon Technologies (RTX.N) unit Pratt & Whitney did not immediately respond to a request for comment. Reporting by Tim HepherOur Standards: The Thomson Reuters Trust Principles.

☆ Safran posts strong sales but sees supply chain risks
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

"The (pandemic) demand crisis is well and truly behind us," Chief Executive Olivier Andries said after reporting first-quarter revenues that rose 24.7% on an underlying basis to 5.266 billion euros ($5.78 billion). Safran's core propulsion revenues rose by 34.9%, on an organic basis, to 2.714 billion euros. Safran reaffirmed its 2023 full-year forecasts for revenues of at least 23 billion euros, recurring operating income around 3 billion euros and free cashflow of at least 2.5 billion. But the engine maker said the main risk factor remained supply chains, led by shortages of materials and labour. Andries said all metals were on the company's watch list for possible supply disruptions, notably steel.

☆ French court clears Air France, Airbus over Rio-Paris plane crash
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

General view of the Air France office, at the Invalides, on May 22, 2020 in Paris, France. A French court on Monday cleared European planemaker Airbus and Air France of "involuntary manslaughter," almost 14 years after an airliner ploughed into the Atlantic en route from Rio de Janeiro to Paris, killing everyone on board. The ruling follows a historic public trial over the disappearance of AF447 in an equatorial storm on June 1, 2009, with families for the 228 victims demanding justice but Paris prosecutors acknowledging that formal blame could not be proved.

☆ Icelandair orders 25 Airbus A321XLR as it replaces Boeing 757s
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +1 min

April 7 (Reuters) - Icelandair Group HF (ICEAIR.IC) said on Friday it secured a deal to purchase about 25 of European planemaker Airbus SE's (AIR.PA) latest A321XLR single-aisle jet, with deliveries slated to begin in 2029. Icelandair, however, said it plans to start using the world's largest planemaker's aircraft from 2025, and is currently in advanced negotiations to lease four Airbus A321LR planes for this purpose. "With the acquisition of the Airbus aircraft, Icelandair will complete the replacement of the Boeing 757," the company said in a statement. Icelandair said it would continue to operate a full Boeing fleet until 2025, after which a mixed fleet of both Airbus and Boeing planes will be in operation following the first deliveries from Airbus. But whereas this makes up some 12% of market forecasts for Boeing's 2023 deliveries, Airbus has secured just 9% of its 2023 target of 720 jets, below the trend for this time of year.

[1/2] A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France, July 2, 2020. REUTERS/Benoit TessierPARIS, April 3 (Reuters) - European planemaker Airbus (AIR.PA) is negotiating a new round of plane orders with China, coinciding with a visit by French President Emmanuel Macron to the economic superpower later this week, government and industry sources said. The potential deal for dozens of jets comes amid worsening relations between Washington and Beijing, which have seen China's usually balanced airplane imports tilt towards Airbus in recent years. Airbus also has an industry presence in China including an assembly plant. Macron is due to conduct the state visit to China on April 5-7, with a delegation of company chiefs from France-based companies, expected to include Airbus CEO Guillaume Faury.

☆ Morning Bid: Growth trumps rates
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +6 min

While there were some questions about seasonal adjustments in the data, economists were impressed that sales growth was pretty broad based and have scrambled to re-crunch first quarter U.S. output forecasts as a result. There may be a more mixed picture from Thursday's data slate on producer prices, housing starts and weekly jobless claims. Even though rates futures and Treasury yields ticked back a bit today, pricing now has Fed policy rates moving as high as 5.25% and staying above 5% all year. And while full-year earnings growth estimates for S&P500 companies have sunk to zero, consensus forecasts are now pencilling in a rebound of almost 12% next year. Uncertainty about the pace of growth and annual tax receipts in April makes it difficult for government officials to predict the exact "X-date", it said.

☆ Exclusive: Airbus roiled by poor start to 2023 as industrial pressure grows
▼ + stars: | 2023-02-13 | by ( Tim Hepher | ) www.reuters.com time to read: +6 min

The first major test will be the first quarter for which suppliers say Airbus seeks close to 140 deliveries. Analysts say Faury will want to avoid spooking investors while insuring against the risk of more downgrades to guidance on deliveries from setting expectations too high. On the other hand, sources say steel capacity has moved up the list of concerns amid pressures including debt restructuring at supplier Liberty Steel, which had no immediate comment. INTERNAL TASK FORCEYet despite hot spots, sources say several key yardsticks of supplier performance like missing-parts-per-million are steadily improving. Faury has insisted bringing the supply chain back to health and modernising Airbus' industrial fabric are top priorities.

BENGALURU/PARIS, Feb 10 (Reuters) - French planemaker Airbus (AIR.PA) on Friday signed an agreement with Air India for 250 jets, as part of the Indian carrier's jumbo deal under its new owners, Tata Group, industry sources told Reuters. This is part of a potentially record order for close to 500 jets split equally between Airbus and rival planemaker Boeing (BA.N), which was first reported by Reuters in December. Air India did not immediately respond to an email seeking comment outside of regular business hours. While the Airbus figure is slightly lower than the 275 originally envisaged, sources did not rule out a provision by Air India for top-up acquisitions or leases at a later point. Air India also wants to win a bigger share of regional international traffic and the domestic market, setting up a battle on both fronts with IndiGo.

[1/2] The logo of Airbus is picuted at the Airbus facility in Montoir-de-Bretagne near Saint-Nazaire, France, March 4, 2022. REUTERS/Stephane MaheDELHI/PARIS, Jan 20 (Reuters) - European planemaker Airbus (AIR.PA) is set to win an order for 235 single-aisle planes as part of a historic purchase of some 495 jets due to be announced by a resurgent Air India on Jan. 27, industry sources told Reuters. Air India and Boeing did not immediately respond to requests for comment. Reuters reported last month that Air India was close to placing orders for around 500 jets from both Airbus and Boeing after months of intense talks on the core plane order. Air India, with its maharajah mascot, was once known for its lavishly decorated planes and stellar service but its reputation declined in the mid-2000s as financial troubles mounted.

☆ Airbus withdraws from U.S. FAA Boeing safety culture panel
▼ + stars: | 2023-01-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 13 (Reuters) - European planemaker Airbus (AIR.PA) said it had withdrawn from a U.S. government-named panel reviewing Boeing’s (BA.N) safety processes and how they influence Boeing safety culture after two fatal 737 MAX crashes in recent years killed 346 people. Congress directed the agency to appoint a panel by early 2021, but the FAA missed that deadline. Boeing last week declined to comment on the panel, but previously emphasized it has significantly reformed its safety culture after the MAX crashes cost it more than $20 billion. read moreIn May, the FAA opted to renew Boeing's Organization Designation Authorization (ODA) program for three years rather than the five years Boeing sought. The FAA continues to subject Boeing to enhanced oversight, inspecting all new Boeing 737 MAXs and 787s before they can be delivered.

☆ Stellantis to build U.S. firm Archer's air taxi
▼ + stars: | 2023-01-04 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

PARIS, Jan 4 (Reuters) - Car maker Stellantis (STLA.MI) will help build Archer Aviation's (ACHR.N) electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to airports or on short trips between cities, allowing them to beat traffic. It is designed for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. "The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer," the companies said in a joint statement. Stellantis will also increase its existing stake in Archer through stock purchases in the open market.

☆ Airlines warn of higher fares from green transition
▼ + stars: | 2022-12-06 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

Willie Walsh, Director General of the International Air Transport Association, which includes most of the world's major airlines, called for swifter action in Europe to drive up scarce production of greener Sustainable Aviation Fuel (SAF). Air fares have already jumped this year as a result of higher prices for conventional fossil-based jet fuel. Environmental groups argue that air higher travel costs will help to rein in emissions by curbing growth in traffic. In July, the European Parliament backed rules on aviation fuel that set binding targets for the replacement of kerosene with less polluting sources, while extending the definition of what a green fuel could be. This year's U.S. Inflation Reduction Act includes significant subsidies to the SAF industry in the form of tax credits, but European industry leaders including the head of planemaker Airbus (AIR.PA) have said the legislation is unfair.

☆ Renault-Airbus partnership to develop new generation of electric batteries
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] A model of Airbus A350-1000 jetliner is displayed at the China International Aviation and Aerospace Exhibition, or Airshow China, in Zhuhai, Guangdong province, China September 28, 2021. REUTERS/Aly Song/File PhotoPARIS, Nov 30 (Reuters) - European planemaker Airbus (AIR.PA) announced on Wednesday a partnership with French carmaker Renault (RENA.PA) to develop a new generation of electric batteries for cars and planes. Engineering teams from both companies will join forces to mature technologies related to energy storage, one of the main roadblocks for the development of long-range electric vehicles, Airbus said in a statement. "Aviation is an extremely demanding field in terms of both safety and energy consumption, and so is the car industry." The collaboration will focus on energy management optimisation and battery weight improvement while also studying the full life cycle of future batteries and assessing their carbon footprint.

☆ Rolls-Royce successfully tests hydrogen-powered jet engine
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 28 (Reuters) - Britain's Rolls-Royce (RR.L) said it has successfully run an aircraft engine on hydrogen, a world aviation first that marks a major step towards proving the gas could be key to decarbonising air travel. The ground test, using a converted Rolls-Royce AE 2100-A regional aircraft engine, used green hydrogen created by wind and tidal power, the British company said on Monday. They said they were already planning a second set of tests, with a longer-term ambition to carry out flight tests. Planemaker Airbus is working with French-U.S. engine maker CFM International to test hydrogen propulsion technology. Other technologies backed by companies such as Rolls-Royce include electric engines, which would be initially suitable for short flights, and sustainable aviation fuel (SAF).

☆ U.S. carrier Alaska exercises options to buy 52 more MAX jets from Boeing
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Alaska Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua RobertsOct 26 (Reuters) - Alaska Airlines will exercise options to purchase 52 more 737 MAX jets from U.S. planemaker Boeing Co (BA.N) as the carrier phases out Airbus SE (AIR.PA) aircraft from its fleet, the company said on Wednesday. The multi-billion dollar deal for the jets, which are due to be delivered between 2024 and 2027, will expand Alaska's MAX fleet to 146 from 94. The deal is the latest narrowbody order for Boeing this year and underscores strong demand for the jets as airlines tap into a resurgence in travel. Alaska said it could operate over 250 new 737 MAX jets by 2030.

☆ Airbus faces fresh bribery settlement, French prosecutor says
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

PARIS, Oct 25 (Reuters) - French authorities are in talks with planemaker Airbus (AIR.PA) that could lead to the expansion of a record multi-national bribery settlement agreed in 2020, prosecutors said on Tuesday. French publication Mediapart reported that Airbus was facing an investigation into alleged bribery in the sale of 21 jets to Libya in 2007, part of a wider probe into links with Libya under late leader Muammar Gaddafi. The 2020 French CJIP cited corruption of foreign officials, fraud and money laundering in the sale of jets and satellites. The planemaker has undergone sweeping management changes since the original probe began in 2016 and says it now has a state-of-the-art compliance system. ($1 = 1.0043 euros)Reporting by Juliette Jabkhiro and Tim Hepher; Writing by Tim Hepher; Editing by Richard Lough and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus 'turns page' on Brexit but presses UK on helicopters, space
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 12 (Reuters) - The head of planemaker Airbus "turned the page" on the planemker's past opposition to Brexit and pledged to keep wings production in Britain, but said the European aerospace giant hoped to be "better understood" on helicopters and space. Register now for FREE unlimited access to Reuters.com RegisterA British government source said Truss had joined her business minister's introductory meeting with Airbus. Britain also plans to buy up to 44 medium helicopters to replace its fleet of Pumas and other military models, with Airbus' European rival Leonardo (LDOF.MI) seen as front-runner. Analysts say Leonardo dominates the UK military market where Airbus is touting a military version of its H175. Faury said Airbus had "turned the page" on its public opposition to Brexit during Britain's 2016 referendum, which had been inspired by the European scale needed to build planes.

But France's BEA accident agency also revealed earlier discussions between Air France and Airbus about the reliability of the probes, and made dozens of safety recommendations from cockpit design to training and search-and-rescue. The relative roles of pilot or sensor error will be key to the trial, exposing differences that insiders say plunged Airbus and Air France into in-fighting behind the scenes for over a decade. We don't want Airbus or Air France to turn this trial into a conference of engineers," said lawyer Sebastien Busy. It is the first time French companies face trial for "involuntary manslaughter" following an air crash. It's their reputations...that's what's at stake for (Air France and Airbus)," said families lawyer Alain Jakubowicz.

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