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☆ C919: Why China's answer to Boeing and Airbus isn't as 'homegrown' as it seems
▼ + stars: | 2023-06-02 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —China is claiming a historic win this week after its answer to Boeing and Airbus, the C919, took to the skies for its first commercial flight. But instead of boosting China’s global stature in technology innovation, experts say the C919 is a symbol of its continued reliance on the West. COMAC’s first commercial plane, by comparison, is a much smaller regional jet called the ARJ21, which can only fly up to 3,700 kilometers (2,300 miles) and accommodate up to 97 passengers. Technicians working on a COMAC C919 aircraft under assembly at the COMAC Shanghai Research and Development Center in 2017. Boeing and Airbus also depend on “high-quality global suppliers,” state-run newspaper China Daily said in an editorial Wednesday.

Persons: ”, Scott Kennedy, Scott, Shukor Yusof, it’s, Kennedy, “, Qilai Shen, Yusof, VCG, Parker, Rockwell Collins, America’s, COMAC, COMAC hasn’t, there’s, ” Yusof Organizations: Hong Kong CNN, Boeing, Airbus, Center for Strategic, International Studies, Commercial Aircraft Corporation of China, Endau, CNN, China Eastern Airlines, Shanghai Research, Development Center, Bloomberg, China, Global Times, GE, CFM, China Daily, America’s Boeing, US, TransNusa, “ Airlines Locations: Hong Kong, China, Beijing, North America, Europe, Washington, Shanghai, Russia, Ukraine, Russian, Asia, United States, European, Malaysia, Indonesia

CNN —China’s first large homegrown passenger jet made its inaugural commercial flight on Sunday, flying from Shanghai to Beijing, Chinese state news agency Xinhua reported. Flying as China Eastern Airlines flight MU9191, the new narrow-body C919 plane left Shanghai at 10:32 a.m. local time. With a range of up to 5,555 kilometers (3,452 miles), the C919 will take on the world’s two major aircraft manufacturers, Airbus and Boeing. It will be a direct competitor to their A320 and B737 narrowbody jets, most commonly used for domestic and regional international flights. Many of the plane’s major elements such as the nose, fuselage, outer wing, vertical stabilizer and horizontal stabilizer were designed by COMAC.

☆ No Singapore Airlines group A320neos with Pratt engines grounded - exec
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, May 17 (Reuters) - None of the Airbus (AIR.PA) A320neo planes in the Singapore Airlines (SIAL.SI) group with Pratt & Whitney engines are currently grounded over a lack of spares, Leslie Thng, CEO of Scoot, the airline's low-cost subsidiary, said on Wednesday. The engines have been under scrutiny since Go Airlines (India) Ltd filed for bankruptcy protection this month, blaming "faulty" Pratt engines for the grounding of about half its 54 Airbus A320neos. Scoot has 15 A320neo family planes in its fleet, while premium brand Singapore Airlines instead operates the rival Boeing Co (BA.N) 737 family. India's IndiGo (INGL.NS), Germany's Lufthansa (LHAG.DE) and Air New Zealand (AIR.NZ) have said some of their aircraft have been grounded over issues with Pratt GTF engines at a time when spares are in short supply. Raytheon CEO Greg Hayes said in February that the GTF engines' reliability has not been up to expectations and that the company was working to fix problems.

☆ Factbox: The engine dispute at the heart of Go First's bankruptcy filing
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +3 min

Here are some details on the U.S. enginemaker's geared turbofan (GTF) engines, which Go First says are at the heart of the crisis. In 2016, Go First received its first A320neo aircraft powered by GTF engines after placing an order for 72 narrow-body jets from Airbus (AIR.PA). Pratt & Whitney is the exclusive engine supplier for the airline's A320neo aircraft fleet. The issues with the GTF engines grounded several A320neo planes in 2017, a year after the engine was launched. In India alone, IndiGo and Go First, among the biggest customers for the A320neo planes, grounded as many as 12 planes at one point, and cancelled dozens of flights.

☆ 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 company Safran keeps 2023 outlook as Q1 sales rise
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 26 (Reuters) - France's Safran (SAF.PA) kept its 2023 financial outlook unchanged as it reported sharp growth in quarterly revenues, buoyed by a swift recovery in air traffic demand. Safran, which provides engines for Boeing (BA.N) and Airbus (AIR.PA) narrow-body jets through its CFM International joint venture with General Electric (GE.N), said first-quarter revenues rose 24.7% on an organic basis to 5.266 billion euros ($5.78 billion). Core propulsion revenues rose by 34.9%, on an organic basis, to 2.714 billion euros, the company said on Wednesday. Safran reaffirmed its 2023 full-year financial outlook, namely for revenues of at least 23 billion euros, recurring operating income of around 3 billion euros and a free cash flow of at least 2.5 billion euros. The engine industry and other parts of the aerospace supply chain have, however, been hit by labour and parts shortages.

A jump in air travel demand has driven up sales at its aerospace division, which makes and services engines for Boeing Co (BA.N) and Airbus SE (AIR.PA) jets. GE also reiterated its profit outlook for 2023 as booming demand in its aerospace business is expected to make up for the challenges in its renewable energy business. It expects adjusted earnings of $1.60 to $2.00 per share in 2023, with revenue growth percentage in high single digits. GE estimated that the aerospace business would generate double-digit revenue growth this year, translating into an operating profit of $5.3 billion-$5.7 billion. However, supply and labor shortages have hurt jet engine output, with CEO Culp saying it was a daily battle to meet jet engine demand.

☆ GE working to address durability issues with LEAP jet engines, says company exec
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

CINCINNATI, Ohio March 9 (Reuters) - General Electric Co (GE.N) is working on addressing issues with the durability of its LEAP jet engines and changes will be rolled out next year, Karl Sheldon, a senior executive at the company's aerospace unit, said on Thursday. The problems with LEAP engines, which power Airbus (AIR.PA) and Boeing (BA.N) jets, is occurring in regions like the Middle-East. Sheldon said changes are being made to the engine's turbine blades and nozzles, which are getting affected by hot and harsh conditions. "Hotter engines running in hotter environment is driving this issue," he said on the sidelines of GE's investor conference. Reporting by Rajesh Kumar Singh in Cincinnati, Ohio; Editing by Leslie Adler and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Air India has options to buy 370 more jets after mammoth order
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 16 (Reuters) - Air India has options and purchase rights to buy 370 more aircraft from Airbus and Boeing over the next decade, an company executive said in a recent LinkedIn post, days after the carrier unveiled a record order for 470 jets. "The order comprises of 470 firm aircraft, 370 options and purchase rights to be procured from Airbus and Boeing over the next decade," said Nipun Aggarwal, chief commercial and transformation officer at Air India, wrote in a post late Wednesday. The firm order comprises 220 Boeing (BA.N) planes and 250 Airbus (AIR.PA) aircraft, while the options can be converted to firm orders at a later date. Aggarwal also said Air India had signed long-term engine maintenance contracts with CFM International (CFM), Rolls-Royce (RR.L) and GE Aerospace (GE.N). Aggarwal said the aspiration with this order is to connect India "non-stop" to every major city in the world and shows the "tremendous economic potential" unleashed by the privatisation of Air India.

Tata Group, which regained control of Air India last year after decades of public ownership, put out just six paragraphs. "Air India negotiated hard and the team is very sharp despite having no prior aviation experience. A second person who watched the billions fall into place said the Air India negotiators were "methodical, tough and very sophisticated". Plans for announcements on the anniversary of Tata's Air India takeover slipped as engine talks wore on. Analysts caution many obstacles remain to Air India's plans.

☆ Tata's Air India to seal half of jumbo plane order - sources
▼ + stars: | 2023-01-26 | by ( Aditi Shah | ) www.reuters.com time to read: +4 min

Air India did not respond to a request for comment. Reuters reported last month Air India was closing in on a deal for about 500 jets. The aim is to corner 30% of the domestic air travel market over the next five years thus narrowing the gap with market leader IndiGo. Tata's four airlines, including two budget carriers, Air India and Vistara its joint venture with Singapore Airlines (SIAL.SI), have a combined market share of 24%. Analysts have said Air India has the ability to claw back some passengers from rival Gulf carriers but not before it matches their quality of fleet and service.

☆ France's Safran to pay $17.2 mln to settle China bribery charges in U.S. probe
▼ + stars: | 2022-12-23 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +1 min

Dec 23 (Reuters) - French jet engine maker Safran SA (SAF.PA) will pay about $17.2 million as part of a settlement with the U.S. Justice Department over bribes its subsidiaries allegedly paid in China, the Department of Justice (DoJ) said in a statement made public on Friday. The Paris-based aerospace supplier will be required to turn over profits from "corruptly obtained" and retained contracts by its U.S.-based subsidiary, Monogram Systems, the DoJ said. Monogram and Safran's German unit, Evac GmbH, allegedly paid bribes to obtain "lucrative" train lavatory contracts with the Chinese government. Safran did not immediately respond to Reuters request for a comment. Reporting by Priyamvada C in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ 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).

☆ Airbus may delay some 2023 jet deliveries -sources
▼ + stars: | 2022-11-27 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

A spokesperson for Airbus said it had no comment on deliveries ahead of its next monthly bulletin in early December. At least one engine maker is experiencing renewed pressure to shift more engines away from supporting aircraft production to a pool of spares for existing customers, the sources said. Currently some 129 Pratt-powered Airbus jets and 55 fitted with CFM's LEAP engines are parked, according to Ascend by Cirium's head of global consulting Rob Morris. At the same time, engine industry sources insist snags on their side of the fence are not solely to blame for delays. In July, Airbus said it would reach an interim production goal of 65 A320-family narrow-body jets a month in early 2024 instead of summer 2023.

☆ The world's largest jet engine maker confirms it won't develop supersonic engines for Boom, leaving the startup with few options
▼ + stars: | 2022-10-21 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

CFM International told media on Sunday that the company has no plans to build a supersonic engine for Boom. Colorado-based startup Boom Supersonic is developing an ultra-high-speed jet, known as Overture, that could catapult travelers from New York to London in less than four hours. But, there is one problem — no engine makers want to help Boom create a supersonic engine. Engine maker Rolls-Royce was at one point a contender, having signed an "engagement agreement" with Boom in 2020 to look into a supersonic engine. However, if Boom is able to pull off creating a supersonic engine, it could give the company a big advantage in the industry.

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☆ Crédit Agricole Subsidiaries to Settle Alleged Violations of U.S. Sanctions
▼ + stars: | 2022-09-26 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Two subsidiaries of French bank Crédit Agricole Group’s corporate and investment banking arm have agreed to pay more than $1.12 million in civil penalties to settle alleged violations of U.S. sanctions, the Treasury Department said on Monday. Separately, CFM Indosuez Wealth, a Monaco-based indirect subsidiary also of Crédit Agricole Corporate and Investment Bank, has agreed to pay $401,039 for allegedly violating sanctions against Cuba, Iran and Syria, OFAC said. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEW Representatives of Crédit Agricole Corporate and Investment Bank didn’t immediately respond to a request for comment. The two subsidiaries were responsible for implementing the compliance policies of their two parents, Crédit Agricole SA and its investment banking arm, but failed to do so from as early as 2011 until 2016, according to OFAC.

☆ Глава Железной дороги Молдовы предлагает сотрудникам взять кредит вместо выдачи зарплат – Цензура МД
▼ + stars: | 2021-07-09 | by ( ) cenzura.md time to read: +2 min

Общество Глава Железной дороги Молдовы предлагает сотрудникам взять кредит вместо выдачи зарплатСогласно инициативе, выдвинутой недавно назначенным главой государственного предприятия Железная дорога Молдовы» (CFM), Олегом Тофилатом, сотрудники, которые не получали зарплату в течение нескольких месяцев, возьмут ссуду в размере задолженности по зарплате, а CFM выплатит проценты по взятым кредитам. “Железная дорога Молдовы предлагает своим сотрудникам брать потребительские кредиты в банке в обмен на причитающуюся им зарплату. Итак, CFM предлагает сотрудникам занять деньги только для того, чтобы их вернуть. Будьте бдительны и внимательно проанализируйте это предложение, которое на самом деле не идет на пользу сотрудникам CFM. Если CFM не имеет возможности выплатить задолженность по заработной плате, она не сможет выплатить проценты, начисленные по этим займам.

Persons: Олег Тофилат, Дойна Иоана Стрэистяну Organizations: Железная дорога, Железная дорога Молдовы» () Locations: Молдова

☆ A patra zi de grevă a foamei. Kalinin: Votați pentru viitorul copiilor, pentru statalitate
▼ + stars: | 2021-07-09 | by ( ) www.ipn.md time to read: +2 min

A patra zi de grevă a foamei. Kalinin: Votați pentru viitorul copiilor, pentru statalitatePe 11 iulie, cetățenii trebuie să voteze cu inima pentru viitorul copiilor, pentru statalitate și pentru pedepsirea corupților. O declară liderul Partidului Regiunilor, Alexandr Kalinin, la a patra zi de grevă a foamei în semn de solidaritate cu angajații Căii Ferate, care nu și-au primit salariile de mai bine de jumătate de an, transmite IPN. Alexandr Kalinin a menționat că, „spre regret, membrii actualului Guvern, format de Igor Dodon, nu sunt interesați de problemele cetățenilor”. El spune că formațiunea va implementa un program amplu și va obține ca fiecare care a fraudat banii publici să fie pedepsit.

Persons: Kalinin, Alexandr Kalinin, Igor Dodon, El, Vladimir Voronin, Serghei Pașcov, Pașcov Organizations: Partidului Regiunilor, Ferate Locations: Guvern, Kalinin, Federația Rusă

☆ CFM propune un mecanism de lichidare a restanțelor salariale: „Credit de la bancă în mărimea restanței salariale”. Avocat: „Un nonsens. Propunerea nu avantajează deloc salariatul CFM”
▼ + stars: | 2021-07-08 | by ( Milena Onisim | ) www.zdg.md time to read: +4 min

Calea Ferată a Moldovei (CFM) a elaborat un mecanism de lichidare a restanțelor salariale în cadrul întreprinderii. Cabinetul Avocatei „Străisteanu Doina Ioana” a publicat o notă informativă joi, 8 iulie, prin care anunță că propunerea CFM „nu avantajează deloc salariatul întreprinderii și că persoanele trebuie să fie vigilente și să analizeze atent această propunere. „Calea Ferată a Moldovei”. Ulterior, raportul a ajuns și pe masa unor deputați din Parlament, iar mai târziu a intrat și în posesia ZdG. ZdG a analizat documentul și a verificat faptele expuse.

Persons: Ioana, Perchezițiile, Alexandr, Igor Dodon, Ion Chicu, ZdG Organizations: Moldovei, Național Anticorupție Locations: Moldova, Moldovei, Anticorupție

„Calea Ferată a Moldovei propune salariaților să ia credite de consum de la bancă în schimbul salariilor ce le datorează întreprinderea. CFM promite că va achita dobânda și comisionul de administrare. Comisionul unic de acordare de 2,5% CFM nu-l achită și nici suma împrumutată de salariat nu o achită, cum ar fi trebuit din contul salariilor neachitate, restante. Deci, CFM propune salariaților sa împrumute bani doar ca să întoarcă banii înapoi. Dacă CFM nu are capacitatea de plată a salariilor restante, nu va avea nici capacitatea sa achite dobânzile calculate pe aceste împrumuturi.

Persons: Facebook Organizations: Moldovei Locations: Moldova

Ulterior, compania va lichida datoriile și nu va mai plăti dobânda, iar angajator ar urma să închidă creditul cu banii încasați. Decizia de a accepta această propune rămâne exclusiv la discreția muncitorilor. Termenul de achitare al creditului de consum este de la trei la cinci ani.

Ulterior, compania va lichida datoriile și nu va mai plăti dobânda, iar angajatorul ar urma să închidă creditul cu banii încasați. Decizia de a accepta această propune rămâne exclusiv la discreția muncitorilor. Termenul de achitare al creditului de consum este de la trei la cinci ani.

CFM le propune angajaților să ia credit pentru salarii, iar întreprinderea va achita doar dobânda în locul lorCalea Ferată a Moldovei (CFM) propune un mecanism prin care să asigure angajații cu salarii, în contextul în care de mai multe luni aceștia nu au niciun venit din cauza situației financiare deplorabile a CFM. Cu alte cuvinte, angajații sunt încurajați să ia credit bancar în loc de salariu, iar întreprinderea să achite doar dobânda în locul lor. Astfel, angajații vor întoarce doar suma împrumutată, nu și costurile adiacente. Angajatul întoarce doar banii pe care i-a împrumutat. Angajatul ia un credit de 30 000 de lei și întoarce aceeași sumă în fiecare lună câte circa 800 de lei, iar dobânda și comisioanele adiacente în sumă de 6 526 de lei vor fi achitate de CFM.

Persons: CFM, . CFM Organizations: Moldovei

„După trei zile, greva continuă. Am chemat ambulanța, iar Alexandr a fost transportat la spital. Deși au fost oameni care s-au oferit să îi aducă mâncare, Kalinin a declarat că greva continuă. Liderul „Partidului Regiunilor”, Alexandr Kalinin a intrat în greva foamei. Gestul vine în solidaritate cu angajații Căii Ferate din Moldova care luni de zile nu și-au primit salariile, spune acesta.

Persons: Alexandr, Alexandr Kalinin, Kalinin Organizations: Partidului Regiunilor, Ferate Locations: Kalinin, Moldova

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