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Lordstown Motors Pursuing $200 Million U.S. Retooling Loan, will Show EV Truck at Detroit Auto Show

FILE PHOTO: A sign welcomes visitors to the General Motors Lordstown Complex assembly plant in Warren, Ohio

WASHINGTON (Reuters) – Electric pickup truck start-up Lordstown Motors is pursuing a $200 million loan from a U.S. Energy Department program to retool a former General Motors <GM> factory in northeast Ohio, Chief Executive Steve Burns told Reuters.

Burns met with Energy Secretary Dan Brouillette on Monday for about an hour and the company was holding additional talks with officials on Tuesday from the Energy Department’s Loan Program Office.

“We think we are worthy of government help. We don’t want a handout – we want a loan,” Burns told Reuters in an interview. “It’s just going to be more jobs faster if we get it. We are viable without it.”

Burns disclosed the company plans to unveil a drivable version of its electric truck at the Detroit auto show in June. It hopes to begin production by year-end.

The Energy Department declined comment.

Burns said the company hopes to receive funding from the Energy Department’s Advanced Technology Vehicles Manufacturing program that in 2009 awarded loans to Ford Motor Co <F>, Tesla Inc <TSLA> and Nissan Motor Co <NSANY> to retool factories, but has not issued loans since 2011. Nissan and Tesla previously repaid their loans.

The fate of the sprawling plant became a political lightning rod after GM announced its planned closure in November 2018, drawing condemnation from U.S. President Donald Trump and many U.S. lawmakers.

A bipartisan group of Ohio lawmakers wrote Brouillette last week offering “strong support” for the loan, saying northeast Ohio was dealt a “severe blow” by the plant closing.

Lordstown Motors Corp, which is 10% owned by Workhorse Group Inc <WKHS>, bought the plant and equipment for $20 million as part of its ambitious plan to begin building electric pickup trucks by the end of 2020.

“It’s cool to bring something back to life,” Burns said.

The company is working to raise additional funding and is in advanced talks with a large strategic investor, Burns said.

GM last year agreed to loan Lordstown Motors $40 million to acquire and retool the plant. Burns hopes to repay GM’s loan “in a few weeks.”

Burns plans to start crash-testing vehicles in July, hiring about 400 hourly workers in September and to begin production in November or December.

Electric vehicle startup Rivian, backed by Amazon.com Inc <AMZN> and Ford, plans to build an electric pickup truck and companion starting in late 2020. GM plans to build its first electric pickup truck starting in late 2021. Tesla plans to start building its electric Cybertruck in late 2021.

(Reporting by David Shepardson; Editing by Nick Zieminski)

Boeing’s New CEO Orders Rethink on Key Jetliner Project

LONDON/CHICAGO (Reuters) – Boeing Co’s new chief executive has sent the aerospace giant back to the drawing board on proposals for a new mid-market aircraft, effectively shelving in their current form plans worth $15 billion-$20 billion that had been overtaken by the 737 MAX crisis.

A decision on whether to launch a New Midsize Airplane (NMA) seating 220-270 passengers, which seemed imminent barely a year ago, had already been postponed as Boeing gave all its attention to the grounding of the smaller 737 MAX after two fatal crashes.

But days after taking the helm with a mandate to lift Boeing out of its 10-month-old reputational crisis, Chief Executive Dave Calhoun said the competitive playing field had changed.

“Since the first clean sheet of paper was taken to it, things have changed a bit … the competitive playing field is a little different,” he told journalists on a conference call on Wednesday.

“We’re going to start with a clean sheet of paper again; I’m looking forward to that,” Calhoun said.

He also spoke of a fresh approach to the market.

A Boeing spokesman said Calhoun had ordered up a new study on what kind of aircraft was needed. New aircraft typically take 6-7 years or more to bring to market once a decision is made, though Boeing aims to shorten that in part through digital technology and new business models designed around the NMA.

Calhoun “has asked the team to do an assessment of the future market and what kind of airplane is needed to meet the future market,” spokesman Gordon Johndroe said.

Noting that the original assessments on the NMA were made about two and a half years ago, he said the new study would “build upon what has been learned … in design and production.”

In further evidence of a change of pace, people familiar with the matter said a meeting between Boeing and a major potential supplier, originally scheduled for next week, had been abruptly cancelled with no new date set.

That contrasts with the approach just weeks ago when Boeing was still presenting new details of the NMA to some airlines, including a working logo – “theNMA” – and details of an “advanced composite” structure, according to a slide seen by Reuters.

The NMA had been designed to address a slender gap between single-aisle workhorse jets like the 737 MAX and long-haul wide-body jets like the 787.

But most of the effort revolved around a new production system designed not only to support the NMA but to lay the groundwork for the next single-aisle aircraft after the 737 MAX.

Calhoun said he expected the MAX, whose return to service was delayed again earlier this week, to resume its previous place in the market and remain in service for a generation.

Traditionally toe-to toe-with Europe’s Airbus SE, Boeing has fallen behind in sales for the largest category of single-aisle planes, such as the 200-240-seat Airbus A321neo, which overlaps with the niche being targeted by the NMA.

By delaying a decision on the NMA, Boeing already risked losing the sweetest part of the market, especially after Airbus seized contracts with two major U.S. airlines, analysts said.

Analysts have also questioned whether Boeing, facing costs equivalent to a new programme to repair the MAX crisis, as well as delays on its large new 777X jet whose maiden flight is set for Thursday, would have appetite for such a costly project now.

(Reporting by Tracy Rucinski in Chicago and Tim Hepher in London; Editing by Matthew Lewis)

Bombardier Gets Green Light for Avionics Upgrade on Learjet Aircraft

  • U.S. Federal Aviation Administration certifies update to the popular Garmin G5000 avionics suite
  • This leading-edge technology will be standard on new Learjet aircraft and available as a retrofit on in-service Learjet 70 and Learjet 75 aircraft
  • Upgrade brings enhanced capabilities to the renowned Bombardier Vision flight deck and paves the way for future advancements
  • Bombardier’s newest Learjet, the Learjet 75 Liberty, is getting strong interest on the market, boasting the smoothest ride and the most spacious cabin as well as the latest avionAs part of its continuing commitment to the legendary Learjet product line, Bombardier is pleased to announce that the U.S. Federal Aviation Administration (FAA) has certified the latest update to the popular Garmin G5000 avionics suite aboard Learjet aircraft.

As part of its continuing commitment to the legendary Learjet product line, Bombardier is pleased to announce that the U.S. Federal Aviation Administration (FAA) has certified the latest update to the popular Garmin G5000 avionics suite aboard Learjet aircraft.

The upgrade will be incorporated on new Learjet aircraft deliveries. In a few months’ time, the new Garmin G5000 avionics suite will also be a standard feature on Bombardier’s newest Learjet, the Learjet 75 Liberty, which is expected to enter service in mid-2020. A retrofit for in-service Learjet 70 and Learjet 75 aircraft will be available in early 2020.

“The latest Garmin G5000 avionics suite is one of many reasons to love Learjet,” said Peter Likoray, Senior Vice President, Worldwide Sales and Marketing, Bombardier Business Aircraft. “With a steady stream of acclaimed enhancements and the upcoming entry-into-service of the new Learjet 75 Liberty, Bombardier is making the world’s best light jet an irresistible choice for more operators than ever before.”

“The Learjet is an iconic symbol that is known for its performance and efficiency, and the ever-popular Garmin G5000 integrated flight deck further enhances this platform with modern features such as wireless connectivity, FANS 1/A+ and more*,” said Carl Wolf, Vice President, Aviation Sales and Marketing, Garmin. “We’re thrilled to work alongside Bombardier to deliver a state-of-the-art avionics suite with an advanced feature set that reduces pilot workload, improves situational awareness and gives pilots a superior in-flight experience.”

Bombardier’s recent enhancements to the beloved Learjet are popular with operators and include a standard pocket door for the quietest flight as well as extended maintenance intervals that drive down operating costs. The spacious new Learjet 75 Liberty, which further demonstrates Bombardier’s commitment to Learjet, is getting strong interest on the market. A full-size interior mock-up of this value-added business jet has already made several appearances to overwhelmingly positive reviews.

The new Garmin G5000 avionics suite will bring workload-reducing improvements, including climb, cruise and descent vertical navigation, enhanced take-off and landing performance calculations and much more. FANS 1/A+, which enables access to the most efficient and favourable routes, will be offered as an option. It will ensure readiness for modernized airspace requirements and deliver efficiency gains that are expected to lower direct operating costs. Pilots will also benefit from a vast array of wireless connectivity features, including two-way flight plan transfers between compatible apps and avionics, available thanks to Garmin’s Flight Stream 510 solution.

The Learjet 75 Liberty has the same operating costs as its competitors in the light jet category while offering the most spacious cabin, the fastest speed, the longest range and the smoothest ride. It is also a step up from other light jets in terms of safety standards, certified to the FAA’s more stringent Part 25 regulations, applicable to commercial airliners, unlike other light jets certified to Part 23 regulations.

The six-seat configuration aboard the Learjet 75 Liberty gives light jet passengers unprecedented freedom to stretch out. A standard pocket door between the cockpit and the Executive Suite delivers a quiet flight, while retractable side tables and stowable ottomans ensure productivity and comfort.

The Learjet 75 Liberty has a range of 2,080 nautical miles, able to connect Las Vegas to New York, Seattle to Washington, D.C., and Mexico City to San Francisco, nonstop.**

Garmin Unveils the Fourth Generation GPS/NAV/COMM

  • GTN 650Xi & GTN 750Xi modernize cockpit navigation and are available immediately

OLATHE, Kan.–(BUSINESS WIRE)– Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced the GTN™ 650Xi and GTN 750Xi, the next generation of in-flight navigation technology. Designed as a direct slide-in upgrade to the previous generation GTN 650/750, pilots can preserve their panel and modernize the cockpit with the new GTN 650Xi and GTN 750Xi. The all-in-one GPS/NAV/COMM boasts a feature-rich multifunction display and can integrate with new or existing remote-mount equipment such as a transponder or audio panel. Dual-core processors and modern hardware also prepare the GTN Xi series for advanced capabilities in the future. The GTN 650Xi and GTN 750Xi have received Federal Aviation Administration (FAA) approval and are available immediately for fixed-wing single-engine and multi-engine piston, turbine and experimental aircraft, with helicopter and business aircraft approvals soon to follow.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200108005138/en/

GTN 750Xi and GTN 650Xi in the panel of a Bonanza (Photo: Business Wire)

GTN 750Xi and GTN 650Xi in the panel of a Bonanza (Photo: Business Wire)

“After decades of innovation and pioneering the GPS/NAV/COMM, we’re excited to bring the fourth generation GTN 650Xi and GTN 750Xi to the market,” said Carl Wolf, vice president of aviation sales and marketing. “Garmin was the first to introduce the all-in-one navigator with the iconic GNS 430/530. Over time the GNS WAAS and the industry-first GTN 650/750 touchscreen navigators were added to the line-up along with state-of-the-art features such as voice control, wireless connectivity and more. As the leader in GPS cockpit navigation, we have brought the most widely adopted navigators to the industry and with the GTN 650Xi and GTN 750Xi, we’re excited to add one more to the family.”

Modern processing power and state-of-the-art hardware within the GTN 650Xi/750Xi supports faster map rendering and smoother panning throughout the touchscreen navigator. It boasts a large, ultra-high-resolution display and wide viewing angle that offers superior readability in the cockpit. The displays initialize within seconds of start-up, providing immediate access to frequencies and flight plan information, saving valuable time in the aircraft. Preserving the same form factor as the previous generation GTN 650/750, the 6-inch-tall GTN 750Xi and the 2.65-inch-tall GTN 650Xi offer an intuitive touchscreen design with a dedicated direct-to button and dual concentric knob that provide added convenience when interfacing with the display.

Retaining all the features of the GTN 650/750, the GTN Xi series adds a vibrant display and vivid colors that enhance the contemporary look of the new navigators. When installed alongside a G500 TXi or G600 TXi flight display, the GTN Xi series brings a new level of modernization to the cockpit. Highly complementary, the GTN Xi and the TXi flight displays share similarities in display, appearance and hardware qualities. For example, both products feature an angular bezel so the pilot has a near-seamless experience when transitioning between the touchscreen flight display and the navigator.

The GTN 650Xi/750Xi offer advanced navigation functions, including ILS and LPV instrument approach procedures, as well as visual approach guidance. Based on a published glide path angle or a three-degree glideslope from the threshold of the runway, visual approaches also take into account terrain and obstacle clearance to assist pilots in flying a stabilized approach to the runway in visual flight conditions. Approach types that incorporate radius-to-fix (RF) leg types are also supported by the GTN Xi series. Additional capabilities include the option to add a published or custom holding procedure, vertical navigation (VNAV), graphical flight plan editing on the moving map and more.

The colorful, multifunction display-like map allows pilots to better visualize their dynamic position relative to potential hazards, such as terrain, weather and traffic. Geo-referenced instrument approach procedures can be overlaid on the map page, offering superior situational awareness when transitioning from the enroute to approach phase of flight. Terrain alerting is included within the GTN Xi series and further enhances situational awareness by using its internal terrain and obstacle database to provide audible and visual terrain proximity alerts, including, “terrain ahead, pull up” and “obstacle ahead, pull up.” Helicopter Terrain Awareness and Warning System (HTAWS), TAWS-A and TAWS-B are available as options.

Superior integration with an array of avionics on the market make the GTN 650Xi/750Xi a simple and straightforward solution to incorporate into any cockpit. Options for remote audio panel or transponder display and control allow aircraft owners to simplify their panel. When paired with a Garmin autopilot, such as the GFC™ 500 or GFC 600, pilots can fly fully coupled VNAV profiles and instrument approach procedures. Pilot workload-reducing features such as Telligence™ voice control are also available within the GTN Xi when paired with the optional GMA™ 35c. When paired with a GSR 56 Iridium datalink, global text and voice calling can be completed through the touchscreen display on the navigator.

Wireless connectivity is available with the optional Flight Stream 510, allowing pilots to connect their mobile devices running the Garmin Pilot™ and FltPlan Go applications to the GTN 650Xi/750Xi. When connected to the navigator, pilots can save time in the cockpit by wirelessly transferring aviation databases and flight plans from their mobile device to the navigator. Flight Stream 510 also supports the sharing of traffic, weather, GPS position information and more. The GTN Xi series is also compatible with the cost-effective Garmin navigation database.

The GTN 650Xi and GTN 750Xi have received FAA Supplemental Type Certification (STC) and are available immediately through Garmin Authorized Dealers for a suggested retail price of $12,495 and $17,995 respectively. A free GTN Xi trainer app is also available for download on Apple mobile devices, which allows customers to experience the feature set of these navigators. A new GTN Essentials 2.0 eLearning Course provides instruction on best practices for operational use of the new GTN Xi series and can be accessed via this website: https://buy.garmin.com/en-US/US/p/712644. The GTN Xi series come with a two-year warranty and are supported by Garmin’s award-winning aviation support team, which provides 24/7 worldwide technical and warranty support. Garmin was awarded top honors last year in avionics product support for the 16th straight year by Aviation International News,and earned the top spot in the annual avionics product support survey conducted by Professional Pilot magazinethis year, also for the 16th consecutive year.

€755 Million Deal to Refurbish and Maintain Avanti West Coast Pendolinos

  • Deal will see the creation of 100 jobs
  • Programme is the UK’s biggest ever train upgrade
  • Seven-year contract will see fleet maintained by the train’s manufacturer, Alstom

Britain’s most iconic train fleet is to undergo a major refurbishment that will create scores of high-skilled engineering jobs and secure hundreds more roles throughout the UK.

In a boost to the manufacturing sector, all 56 electric Pendolino trains deployed on the West Coast Mainline will be overhauled in a seven-year deal worth approximately €755 million (£642 million) signed between the route’s new operator, Avanti West Coast, and Alstom which built the fleet.[1]

As well as covering a €150 million (£127 million) upgrade programme of the Pendolinos, which is believed to be the biggest train upgrade programme ever undertaken in the UK, the deal will see Alstom maintain them until 2026 alongside a new train fleet recently ordered from Hitachi.

The first of the revolutionary tilting Pendolino trains entered service on the London to Glasgow route in January 2003. The overhaul will focus on onboard facilities, with passengers benefitting from more comfortable seating, improvements to the shop, revamped toilets, better lighting, new interiors, and the installation of at-seat chargers and improved Wi-Fi throughout.  Performance will also be improved through new maintenance programmes. 

The deal will create 100 high-skilled roles, mostly based at Alstom’s Transport and Technology Centre in Widnes, with hundreds more existing engineering jobs secured at key depots in Glasgow, Liverpool, Manchester, Oxley and Wembley.

Liverpool City Region Metro Mayor, Steve Rotheram, said: “In the Liverpool City Region, we’re trying to create a fair and inclusive economy where local people benefit from investment. The Combined Authority have provided £3.4m in funding to help Alstom open their ground breaking facility in Halton. I’m really pleased that – because of this brand new facility – local people will benefit through jobs and apprenticeships for years to come through projects like this.”

Managing Director of Avanti West Coast, Phil Whittingham, said: “The Pendolino is an iconic passenger train and we’re delighted to be giving it a new lease of life. This deal will improve the experience of passengers and ensure the fleet can continue to serve communities up and down the west coast route in the years ahead.”

Nick Crossfield, Managing Director, Alstom UK & Ireland added: “Alstom are proud to have been trusted by First Trenitalia to maintain the Avanti West Coast fleet and upgrade the Pendolino trains. Over the last 15 years these trains have revolutionised travel for passengers, with faster and more frequent services. 

“Passengers can now look forward to a new chapter in this story with Avanti West Coast, and with this contract in place, Alstom can look forward to investing even more in high quality jobs and apprenticeships as we deliver these improvements.”

Alan Lowe, CFO of  Angel Trains which leases the fleet to Avanti West Coast, said: “The refurbishment of the Avanti West Coast fleet will dramatically improve passenger experience and create highly-skilled jobs in local communities, so we’re delighted to be supporting First Trenitalia and Alstom as this exciting project commences. Angel Trains is committed to investing in the modernisation of UK Rail and this transformative project will ensure that Pendolino trains reflect the evolving needs of today’s passengers and continue to be an iconic part of our railways.”

[1] Booked in the third quarter (Q3) of the 2019/2020 fiscal year.

Toyota to Build Prototype City of the Future in Japan

Akio Toyoda, president of Toyota Motor Corporation, speaks at a news conference, where he announced Toyota’s plans to build a prototype city of the future on a 175-acre site at the base of Mt. Fuji in Japan, during the 2020 CES in Las Vegas

LAS VEGAS (Reuters) – Toyota Motor Corp <TM> said on Monday it plans to build a prototype “city of the future” at the base of Japan’s Mt. Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars, “smart homes,” artificial intelligence and other technologies.

Toyota unveiled the plan at CES, the big technology industry show. The development, to be built at the site of a factory that is planned to be closed, will be called “Woven City” – a reference to Toyota’s start as a loom manufacturing company – and will serve as a home to full-time residents and researchers.

Toyota did not disclose costs for the project.

Executives at many major automakers have talked about how cities of the future could be designed to cut climate-changing emissions from vehicles and buildings, reduce congestion and apply internet technology to everyday life. But Toyota’s plan to build a futuristic community on 175 acres (71 hectares)near Mt. Fuji is a big step beyond what rivals have proposed.

The proposal highlights not only Toyota Chief Executive Akio Toyoda’s ambition, but also the financial and political resources Toyota can bring to bear, especially in its home country.

Toyota expects 2,000 people will live at the city initially, with construction slated to start next year. Toyoda called the project “my personal ‘field of dreams.’

“You know if you build it, they will come.”

Toyota said it has commissioned Danish architect Bjarke Ingels to design the community. Ingels’ firm designed the 2 World Trade Center building in New York and Google’s offices in Silicon Valley and London.

Toyota said it is open to partnerships with other companies that want to use the project as a testing ground for technology.

(Reporting by Jane Lanhee Lee and David Shepardson; Writing by Joe White; Editing by Dan Grebler)

Watch the 30 second Woven City YouTube video by clicking HERE!

Air India Exits Sabre GDS

SOUTHLAKE, Texas, Jan. 3, 2020 /PRNewswire/ — Sabre Corporation (NASDAQ: SABR), the leading software and technology company that powers the global travel industry, issued a statement today regarding its relationship with Air India. The following is for attribution to Kristin Hays, vice president – global communications for Sabre:

“After a successful 20-year relationship, Air India has decided to discontinue distributing its content through the Sabre GDS. Consequently, Air India content is no longer available to Sabre-connected travel agencies, effective Jan. 2.

“We are very disappointed that Air India decided to withdraw from Sabre. We believe that access to Sabre’s global network of travel agencies provides great value to Air India.

“We have worked with Air India for the better part of a year to reach a new agreement, in anticipation of the existing contract expiring and after receiving a termination notice from the carrier. Unfortunately, after extensive negotiations, we have been unable to come to a new agreement.

“Our teams will continue to work with Air India to finalize an agreement that meets the needs of Sabre, Air India and travel buyers.

“Sabre remains committed to GDS agreements that meet our airline customers’ unique needs while also balancing the needs of the travel buyers who rely on Sabre for robust travel content.”

Air Kiribati Receives Its First Embraer E190-E2 Jet

São José dos Campos, Brazil, December 30th, 2019 – Air Kiribati, the flag carrier of the Republic of Kiribati, received today its first E190-E2 jet. Embraer announced the contract with the Government of Kiribati, in partnership with its national airline, Air Kiribati, in December 2018. The airline ordered two E190-E2s and has purchase rights for two more.

“Aviation is critical for any island nation and Kiribati is no exception. Our Government has made the conscious decision to take into our hands the opportunity to unlock economic prosperity for our people and our nation through the purchase of these two aircraft,” said Hon. Willie Tokataake, Minister for Information, Communication, Transport and Tourism Development of the Kiribati Government. “The arrival of our first jet today is the culmination of three years of vision, strategic thought, government focus, research, evaluation, hard work, commitment, partnership and a good measure of problem solving.”

Air Kiribati is the launch operator for the E190-E2 in Asia Pacific. The aircraft will be configured in a dual class layout seating 92 passengers in total, with 12 seats in business class and 80 seats in economy class. Located in the central Pacific, Air Kiribati can now fly longer domestic and international routes than it currently does with its turboprop fleet.

“This is first E190-E2 delivered in the Pacific region,” said Cesar Pereira, Asia Pacific Vice President, Embraer Commercial Aviation. “We’re are honored that Air Kiribati selected the E190-E2 as the best fit for the airline’s challenging flying environment. The E190-E2 has cutting-edge technology and is the most fuel efficient and environmentally-friendly single aisle jet in the world. These attributes are extremely important for Kiribati.”

With a maximum range of up to 2,850 nautical miles, the E190-E2 can serve destinations throughout the vast expanse of Kiribati, including nonstop from Tarawa to Kiritimati (Christmas) Island, one of the most challenging routes in the Pacific. The current domestic flight from Tarawa to Kiritimati requires an international stopover in Fiji.

Spanning four time zones and comprised of more than 30 islands, Kiribati is the only country in the world to be in all four hemispheres. Embraer has been present in the Pacific since the first Bandeirante was delivered to a customer in Australia in 1978. The company continues to support operators across Oceania more than 40 years later.

The E190-E2 is the first of three new aircraft types in the E-Jets E2 family, developed to succeed the first-generation E-Jets. Compared to the first-generation E190, the E190-E2 burns 17.3% less fuel and nearly 10% less than its direct competitor. This makes it the most efficient single-aisle aircraft on the market. The E190-E2 generates significant savings for airlines in terms of maintenance costs. It has the longest maintenance intervals – 10,000 flight hours for basic checks and no calendar limit in typical E-Jets utilization. This means an additional 15 days of aircraft utilization over a period of ten years.

The E2 cockpit features advanced Honeywell Primus Epic 2 integrated avionics. Combined with closed-loop fly-by-wire controls, the systems work together to improve aircraft performance, decrease pilot workload and enhance flight safety. From a passenger perspective, the E2 cabin features a comfortable two-by-two layout. The absence of a middle seat enables passengers to have an enjoyable flight experience with more legroom and additional luggage storage space.

Embraer is the world’s leading manufacturer of commercial aircraft up to 150 seats with more than 100 customers across the world. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,500 aircraft have been delivered. Today, E-Jets are flying in the fleets of 80 customers from 50 countries. The versatile 70 to 150-seat family is flying with low-cost airlines as well as with regional and mainline network carriers.

Boeing to Deliver AH-64E Apache Helicopters to 3 Allied Countries

  • Nearly 50 Foreign Military Sales orders valued at more than $560 million

Boeing [NYSE:BA] and the U.S. Army have finalized orders from three nations to provide their armed forces with the new, more capable AH-64E Apache model. The contracts are for the remanufacture of 47 existing AH-64D Apaches. The total combined value of the orders is more than $560 million.

“More allied defense forces worldwide are selecting the AH-64E Apache because they know it provides the most advanced technology and capability to keep their nations safe and secure today and well into the future,” said Kathleen Jolivette, vice president of Attack Helicopter Programs. “The Apache continues to be the most proven and reliable attack helicopter on the battlefield today.”

Sixteen countries currently field the Apache. AH-64 Apaches have flown 4.6 million flight hours, including more than one million flight hours in combat.

The remanufactured aircraft will be delivered in the early 2020’s.

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