Category: stock news (Page 10 of 186)

Saab receives order from NATO for RBS 70 Bolide missiles

December 23, 2023 / WIL BALDWIN

SAAB AB ser. B (London: 0GWL) has received an order for RBS 70 Bolide missiles from the NATO Support and Procurement Agency (NSPA). The order value amounts to SEK 350 million and deliveries will take place during 2027.

The RBS 70 system has an installed base in more than 19 countries, with 1,600 RBS 70 systems and more than 18,000 missiles delivered. The Bolide missile is the 3rd generation, all-target, short-range air defence missile from Saab. With the Bolide missile, the RBS 70 system targets a complete threat spectrum: from fixed and rotary wing aircraft, down to small targets such as cruise missiles and UAVs, with a range of more than 9 kilometres and with altitude coverage in excess of 5,000 metres.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Boeing delivers first Orca undersea vehicle to U.S. Navy

December 23, 2023 / WIL BALDWIN

Huntington Beach, California, December 20, 2023— Boeing (NYSE: BA) has delivered the first Orca Extra Large Uncrewed Undersea Vehicle (XLUUV) to the U.S Navy following acceptance testing completion this month. The XLUUV, designated by the Navy as “Orca,” is a new class of autonomous submarine that can perform long duration critical missions to achieve undersea maritime dominance in changing environments and contested waters.

With the partnership of the Navy, Orca has undergone several phases of at-sea testing, including above and below surface maneuvers to demonstrate the vehicles’ unique capabilities.

Orca is the result of more than 50 years of Boeing experience building and operating undersea vehicles. In 2012 Boeing initiated the design and development of Echo Voyager, a proof-of-concept XLUUV that began at-sea testing in 2017 and was a precursor to the US Navy’s Orca XLUUV competition. Echo Voyager – the world’s only vehicle of its size and capability – has spent over 10,000 hours operating at sea and transited hundreds of nautical miles autonomously.

Forward-Looking Statements

Ryanair welcomes EU court rulings on Air France-KLM state aid

December 20, 2023 / WIL BALDWIN

December 20, 2023 – Ryanair Holdings PLC (Dublin: RYA) today welcomed the EU General Court’s rulings that €7 billion Covid-19 State aid granted to Air France-KLM in 2020 and €4 billion in 2021 was illegal. Ryanair now calls on the European Commission to order France to immediately recover this multi-billion euro illegal State aid package from Air France-KLM and impose adequate remedies to repair at least some of the damage to competition done by this massive State bailout.

Ryanair stated:

The European Commission’s Directorate General for Competition has still not acted to force recovery of the unlawful aid, nor has it imposed any measures to remedy the damage to competition caused by the Swedish, Danish, German, and Italian governments favouring their local airlines over other EU airlines, in breach of EU law. Today’s judgments underline the need for the European Commission to immediately act to recover these illegal State aid packages and order remedies to restore at least some of the damage done to competition.

Forward-Looking Statements

Southwest Airlines pilots to vote on new five-year agreement

December 20, 2023 / WIL BALDWIN

Dallas, Texas, December 20, 2023 – Southwest Airlines Co. (NYSE: LUV) announced today that a Tentative Agreement has been reached with the Southwest Airlines Pilots Association (SWAPA) and will be voted on by the airline’s nearly 11,000 Pilots.

SWAPA will communicate details of the contract and the voting process to Pilots.

Southwest® began accruing for market wage rates for all open labor contracts April 1, 2022. The Company’s fourth quarter 2023 guidance range for operating expenses per available seat mile, excluding fuel and oil expense, profitsharing, and special items (CASM-X), including those associated with this Tentative Agreement, remains unchanged at down 16 percent to 19 percent year-over-year. The CASM-X guidance range is inclusive of market wage rate accruals for this, and all open labor contracts, related to the fourth quarter 2023 time period.

Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to (i) the Company’s financial outlook, plans, expectations, and projected results of operations and (ii) labor matters. These forward-looking statements are based on the Company’s current estimates, intentions, beliefs, expectations, goals, strategies, and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of fears or actual outbreaks of diseases, extreme or severe weather and natural disasters, actions of competitors, fuel prices, consumer perception, economic conditions, banking conditions, fears or actual acts of terrorism or war, sociodemographic trends, and other factors beyond the Company’s control, on consumer behavior and the Company’s results of operations and business decisions, plans, strategies, and results; (ii) the Company’s ability to timely and effectively implement, transition, and maintain the necessary information technology systems and infrastructure to support its operations and initiatives; (iii) the emergence of additional costs or effects associated with the cancelled flights in December 2022, including litigation, government investigation and actions, and internal actions; (iv) the Company’s dependence on its workforce, including its ability to employ and retain sufficient numbers of qualified Employees to effectively and efficiently maintain its operations; (v) the Company’s ability to obtain and maintain adequate infrastructure and equipment to support its operations and initiatives; (vi) the Company’s dependence on third parties, in particular with respect to its technology plans, its plans and expectations related to operational reliability, fuel supply, and maintenance, and the impact on the Company’s operations and results of operations of any third party delays or non-performance; (vii) the impact of labor matters on the Company’s business decisions, plans, strategies, and results; (viii) the impact of governmental regulations and other governmental actions on the Company’s business plans, results, and operations; and (ix) other factors, as described in the Company’s filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10- K for the fiscal year ended December 31, 2022. Caution should be taken not to place undue reliance on the Company’s forward-looking statements, which represent the Company’s views only as of the date of this news release. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Maersk launches new weekly service to the Port of Rades, Tunisia

December 20, 2023 / WIL BALDWIN

Port of Rades, Tunis, 20 December 2023 – AP Moeller – Maersk A/S (Copenhagen: MAERSKb) is proud to announce a new transport solution connecting the growing Tunisian market to its mainliner services to and from Europe, Middle East and Asia. The new weekly service started recently and is operated with a dedicated ro-ro vessel between the Port of Rades and the connecting hub port of Cagliari in Italy. Furthermore, the weekly service offers the best connection between Morocco and Tunisia.

The ro-ro vessel is leaving the port of Tunis Rade, Tunisia every Friday evening, calling the Cagliari, Italy on Saturday and connecting with our hub port in Tangier, Morocco on Thursday.

To ensure seamless and reliable logistics in Tunisia, Maersk has established a wide range of value adding services for customers including the availability of a bounded warehouse, airfreight, less than container load cargo (LCL) as well as supply chain and 4PL solutions. Other integrated logistics services enhancing customer satisfaction include customs service, inland transportation, insurance, depot services and cold chain logistics.

Forward-Looking Statements

Embraer doubles service center capacity by expanding maintenance and customer support

December 20, 2023 / WIL BALDWIN

Embraer is expanding with 3 additional MRO facilities in Texas, Ohio, and Florida

Melbourne, Florida, December 20, 2023 – Embraer (NYSE: ERJ) announced today that it is doubling its maintenance service capacity in the United States, to support the continued growth of its executive jets’ customer base through the addition of three Executive Aviation Maintenance, Repair and Overhaul (MRO) facilities in Dallas Love Field, TX, Cleveland, OH, and Sanford, FL.

Embraer will also substantially increase its Mobile Response network by 28 teams, and enlarge its capabilities including access to interior services, paint, and component repairs as part of this expansion. Service at these locations is set to begin in the second quarter of 2024. Embraer currently has three owned U.S.-based service centers dedicated to its executive jet customers located in Mesa, AZ, Melbourne, FL, and Fort Lauderdale, FL. Further, the company has 24 authorized service centers for its executive jets across the USA.

Forward-Looking Statements

Spain orders 16 Airbus C295 for Maritime Patrol and Surveillance

December 20, 2023 / WIL BALDWIN

Getafe, Spain, December 20, 2023 – The Spanish Ministry of Defence has ordered 16 Airbus Group SE (Paris: AIR) C295 aircraft in Maritime Patrol Aircraft (MPA) configuration and Maritime Surveillance Aircraft (MSA) configuration. The contract amounts to €1.695 billion.

These new aircraft will enable the Spanish Air and Space Force and the Spanish Navy to strengthen the national anti-submarine warfare capability as well as increase and enhance its surveillance, reconnaissance and search & rescue units.

The contract also includes training systems (Full Flight Simulator and Mission System Simulator) and an initial logistics support package.

The C295 MPA will conduct the missions performed by the P-3 Orion fleet, which were retired at the end of 2022. It will be equipped to carry out anti-submarine, anti-surface warfare and intelligence, surveillance and reconnaissance missions. Likewise, it will be able to carry armaments such as torpedoes and other types of weapon systems.

Forward-Looking Statements

LATAM orders five additional Boeing 787 aircraft

December 20, 2023 / WIL BALDWIN

LATAM Airlines Group SA (ADR: LTMAY) announces an order for five more Boeing (NYSE: BA) 787 Dreamliners to continue advancing its commitment to be more efficient and sustainable. The purchase ranks the South American airline group as the largest operators of Dreamliners in Latin America.

With this order, together with the already scheduled deliveries of this model in the upcoming years, LATAM group will reach a total of 46 Boeing 787 airplanes. Representing an increase of 20 airplanes of this model compared to the pre-pandemic fleet, this investment reinforces the group’s commitment to have one of the most modern and efficient fleets in South America.

Additionally, LATAM group has decided to equip the next Boeing 787s it receives with GEnx engines by General Electric (NYSE: GE) Aerospace Division, becoming the first airline in South America to have these engines known for their high performance and efficiency.

The GEnx engine family has more than 50 million flight hours since entry into service in 2011 and is the fastest-selling, high-thrust engine in GE history with nearly 3,000 engines in service and on backlog, including spares, according to data from its manufacturer.

Forward-Looking Statements

Lufthansa Group orders another 40 Airbus A220 aircraft

December 19, 2023 / WIL BALDWIN

Toulouse, France, December 19, 2023 – The Deutsche Lufthansa AG (Xetra: LHAG) Supervisory Board decided to place a firm order for an additional 40 Airbus Group SE (Paris: AIR) A220-300s for its short and medium-haul fleet. The A220 has been in service with the Group since 2016, when SWISS put the first aircraft into scheduled service.

With its latest order Lufthansa reinforces its long standing relationship with Airbus. Since the A300 in the 1970’s, Lufthansa Group has operated all members of the Airbus product family, from the A220, A320-Family, A330, A340, A350 and the A380.

Forward-Looking Statements

U.S. Navy awards RTX $80 million advanced electronic warfare contract

December 19, 2023 / WIL BALDWIN

Goleta, California, December 19, 2023, PRNewswire – The United States Navy awarded Raytheon, an RTX (NYSE: RTX) Business, an $80 million contract in a down select to prototype Advanced Electronic Warfare, or ADVEW, for the F/A-18 E/F Super Hornet. This prototype will be considered as a replacement for the existing AN/ALQ-214 integrated defensive electronic countermeasure and AN/ALR-67(V)3 radar warning receiver with a consolidated solution that will deliver superior electronic warfare capabilities to the backbone of the Navy’s carrier air wing.

Raytheon’s Advanced Electronic Warfare offering will provide significant performance upgrades by modernizing existing electronic warfare systems into fewer components and incorporating government-defined open architecture. Development of this new solution will closely align and integrate with other combat-proven, radio frequency sensors and effectors employed by the Super Hornet. ADVEW will ensure F/A-18E/Fs maintain their operational electronic warfare advantage, while significantly improving survivability against advanced, complex threats.

Development and testing of ADVEW will mainly take place in Goleta, California. During the prototype phase, the system will undergo preliminary design review, critical design review, and flight testing over a 36-month period.

Forward-Looking Statements

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