Airbus has signed a contract to deliver 38 new Eurofighter aircraft to the German Air Force. This makes Germany the largest ordering nation in Europe’s biggest defence programme. The order, also known by its project name Quadriga, covers the delivery of 30 single-seater and 8 twin-seater Eurofighters. Three of the aircraft will be equipped with additional test installations as Instrumented Test Aircraft for the further development of the Eurofighter programme.
Dirk Hoke, CEO Airbus Defence and Space, said: “The new Tranche 4 Eurofighter is currently the most modern European-built combat aircraft with a service life well beyond 2060. Its technical capabilities will allow full integration into the European Future Combat Air System FCAS”.
The renewed order from Germany secures production until 2030 and comes at a strategically important time for the programme. In addition to an expected Eurofighter order from Spain to replace its legacy F-18s, procurement decisions in Switzerland and Finland are imminent in 2021.
The variant offered in Switzerland corresponds to the configuration of the German Quadriga order. The equipment includes the world’s latest electronic radar, future-proof hardware and software and unlimited multi-role capability for engaging air and ground targets.
Eurofighter is Europe’s largest defence programme, in which the United Kingdom, Spain and Italy are involved alongside Germany. In addition to technological capabilities, it secures more than 100,000 jobs in Europe.
– The highest anti-jamming and anti-spoofing PNT technology providing access and trusted data for success of critical missions
Collins Aerospace Systems, a unit of Raytheon Technologies Corp. (NYSE: RTX), has been selected to provide Mounted Assured Positioning, Navigation and Timing System (MAPS Gen II) for manned and unmanned ground vehicles to combat Positioning, Navigation and Timing (PNT) threats.
MAPS II provides a high-assurance, accurate navigation solution across GPS threat environments with industry-leading NavFusion of multiple sensors and is interoperable with the Collins Aerospace PRC-162 manpack radio to ensure mission success in the Joint All Domain Command and Control (JADC2) battlespace.
Its advanced anti-spoofing and anti-jamming technology addresses evolving enemy threats and technologies. The warfighter can navigate through high threat environments with the confidence of knowing where they are, where they need to go, at the precise time with weapons on target.
Leveraging Collins Aerospace’s NavHub™-100 navigation system and Multi-Sensor Antenna System (MSAS-100), this navigation capability distributes Assured Position, Navigation and Timing (APNT) information to all systems onboard the platform through one device. The MAPS Gen II system includes Military Code (M-Code) capability and improved levels of reliability through patented Modernized Signal Tracking (MST) that enhances GPS integrity. Additionally, the open architecture, modular, and scalable technology lets the Army add additional sensors and capability with a much lower life-cycle cost, such as alternative Radio Frequency (RF) and Line of Bearing (LOB).
“Building upon our expertise in open architecture and NavFusion, this modular, and scalable system helps the warfighter keep pace with evolving threats and technologies. They can confidently know their location and destination at the precise time with weapons on target,” said Ryan Bunge, vice president and general manager, Communication, Navigation and Guidance Solutions for Collins Aerospace.
Deutsche Lufthansa AG has been informed by the Economic Stabilization Fund (WSF) of the Federal Republic of Germany that the WSF has approved the stabilization package for the company. The Executive Board also supports the package.
The package provides for stabilization measures and loans of up to EUR 9 billion.
The WSF will make silent participations of up to 5.7 billion euros in total in the assets of Deutsche Lufthansa AG. Of this amount, approximately EUR 4.7 billion is classified as equity in accordance with the provisions of the German Commercial Code (HGB) and IFRS. In this amount, the silent participation is unlimited in time and can be terminated by the company on a quarterly basis in whole or in part. In accordance with the agreed concept, the remuneration on the silent participations is 4% for the years 2020 and 2021, and rises in the following years to 9.5% in 2027.
Furthermore, the WSF will subscribe to shares by way of a capital increase in order to build up a 20% stake in the share capital of Deutsche Lufthansa AG. The subscription price will be 2.56 Euro per share, so that the cash contribution will amount to about 300 million Euro. The WSF may also increase its stake to 25% plus one share in the event of a takeover of the company.
In addition, in the event of non-payment of remuneration by the Company, a further portion of the silent participation is to be convertible into a further shareholding of 5% of the share capital at the earliest from 2024 and 2026 respectively. The second conversion option, however, only applies to the extent that the WSF has not previously increased its shareholding in connection with the above-mentioned takeover case. Conversion should also be possible for dilution protection. Subject to the full repayment of the silent participations by the company and a minimum sale price of EUR 2.56 per share plus an annual interest of 12%, the WSF undertakes, however, to sell its shareholding in full at the market price by 31 December 2023.
Finally, the stabilization measures are supplemented by a syndicated credit facility of up to EUR 3 billion with the participation of KfW and private banks with a term of three years. This facility is still subject to the approval of relevant bodies.
The expected conditions relate in particular to the waiver of future dividend payments and restrictions on management remuneration. In addition, two seats on the Supervisory Board are to be filled in agreement with the German government, one of which is to become a member of the Audit Committee. Except in the event of a takeover, the WSF undertakes not to exercise its voting rights at the Annual General Meeting in connection with the usual resolutions of ordinary Annual General Meetings.
The stabilization package still requires the final approval of the Management Board and the Supervisory Board of the company. Both bodies will come together shortly to adopt resolutions on the stabilization package. The capital measures are subject to the approval of an extraordinary general meeting.
Finally, the stabilization package is subject to the approval of the European Commission and any competition-related conditions.
Travellers in the US are set to enjoy more choice in the air, with the formal launch of Breeze Airways announced last week.
Previously known by the code name “Moxy”, the new airline is the brainchild of experienced airline executive David Neeleman, who is renowned for having established four successful airlines during his career.
With the experience of establishing the likes of Morris Air, WestJet, Jet Blue and Azul, each of Neeleman’s new entrants are notable for introducing a variety of innovations to the market.
Today considered commonplace; leading customer experience improvements include e-ticketed bookings, inflight TV streaming and the opening up of routes to city pairs previously not served by existing carriers.
FILE PHOTO: FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse
PARIS/LONDON/WASHINGTON (Reuters) – Airbus <EADSY> bribed public officials and hid the payments as part of a pattern of worldwide corruption, prosecutors said on Friday as the European planemaker agreed a record $4 billion settlement with France, Britain and the United States.
The disclosures, made public after a nearly four-year investigation spanning sales to more than a dozen overseas markets, came as courts on both sides of the Atlantic formally approved settlements that lift a legal cloud that has hung over Europe’s largest aerospace group for years.
“It was a pervasive and pernicious bribery scheme in various divisions of Airbus SE that went on for a number of years,” U.S. District Judge Thomas Hogan said.
The deal, effectively a corporate plea bargain, means Airbus has avoided criminal prosecution that would have risked it being barred from public contracts in the United States and European Union – a massive blow for a major defence and space supplier.
Prosecutors said individuals could still face criminal charges, however.
Airbus, whose shares closed down 1%, has been investigated by French and British authorities for alleged corruption over jet sales dating back more than a decade. It has also faced U.S. inquiries over suspected violations of U.S. export controls.
“In reaching this agreement today, we are helping Airbus to turn the page definitively” on corrupt past practices, French prosecutor Jean-Francois Bohnert said.
France’s financial prosecutor said the company had also agreed to three years “light compliance monitoring” by the country’s anti-corruption agency.
The U.S. Department of Justice said the deal was the largest ever foreign bribery settlement.
CODE NAME ‘VAN GOGH’
In a packed hearing at London’s Royal Courts of Justice, an Airbus lawyer said the settlements “draw a clear line under the investigation and under the grave historic practices”.
Outlining detailed findings, the UK’s Serious Fraud Office (SFO) said Airbus had hired the wife of a Sri Lankan Airlines executive as its intermediary and misled Britain’s UKEF export credit agency over her name and gender, while paying $2 million to her company. The airline could not be reached for comment.
Delta Air Lines has successfully acquired a 20 percent equity stake in LATAM Airlines Group S.A for approximately $1.9 billion.
Delta Air Lines has successfully completed its previously announced tender offer and has acquired a 20 percent equity stake in LATAM Airlines Group S.A for approximately $1.9 billion, an important milestone toward bringing together the leading airlines in North and South America. This investment continues Delta’s strategy of making equity investments in key airline partners around the globe.
“We look forward to working with LATAM to create a truly world-class partnership that will give our customers unparalleled access throughout the Americas,” said Steve Sear, Delta President — International and Executive Vice President — Global Sales. “Equity investments like this help create alignment within our partnerships as we bring together our brands, enabling us to provide the very best service and reliability for our shared customers.”
In September, Delta and LATAM announced a strategic partnership, including the now completed 20 percent equity investment and also a commercial joint venture. Once fully implemented, this partnership will unlock growth opportunities for both airlines and offer significantly expanded travel options for customers, with access to 435 destinations worldwide.
Most recently, the carriers announced that they will initially launch codesharing for flights operated by certain LATAM affiliates in Colombia, Ecuador and Peru beginning in the first quarter of 2020. The codeshare will offer customers increased connectivity between up to 74 onward destinations in the United States and up to 51 onward destinations in South America.
The enhanced cooperation and codeshare agreements are subject to governmental and regulatory approvals.
Jetstar group chief executive Gareth Evans says he is encouraged by the strong start to the low-cost carrier’s (LCC) new nonstop Gold Coast-Seoul Incheon service.
The inaugural flight departed Gold Coast Airport at a little past 1200 local time on Sunday, with Boeing 787-8 VH-VKF receiving an Airservices Aviation Rescue and Fire Fighting (ARFF) monitor cross prior to taking off as the JQ49 bound for Seoul Incheon.
Some nine hours and a half hours later, the 787-8 touched down at Seoul Incheon just before 2030 local time.
And after about two and a half hours on the ground, the Dreamliner took off as the reciprocal JQ50 bound for the Gold Coast.
Evans expressed confidence that the route would do well, given the stimulatory impact of low fares and South Koreans’ being among the most frequent travellers per capita of any country in the world.
Similarly, Australians were increasingly becoming aware of South Korea as a place to visit for food, history and popular culture influences such as K-Pop.
“There will be a lot of demand from Korea. But we are betting on huge increases in demand from Australians as well,” Evans told reporters at Gold Coast Airport on Sunday prior to the inaugural flight.
“The start to the route has been fantastic so we are off to a very good footing.”
Jetstar’s Gold Coast-Seoul Incheon flights have been scheduled on Wednesdays, Fridays and Sundays.
The 787-8s serving the route have 335 seats comprising 21 business class recliners in a 2-3-2 configuration with 38-inch pitch and 314 economy class seats at nine abreast with 30-inch pitch.
Currently, Asiana Airlines and Korean Air are the only two airlines with year-round nonstop flights between Australia and South Korea.
Asiana flies to Sydney, while Korean Air has nonstop flights to Brisbane and Sydney.
Qantas – Jetstar’s parent company – last served South Korea with its own aircraft in the mid-2000s when it flew Boeing 767-300ERs on seasonal services between Brisbane and Seoul. It also had year-round flights to Seoul in the late 1990s.
Ansett Australia also flew to Seoul in the late 1990s.
Evans said the stimulatory impact of low fares offered by Jetstar compared with those of full-service carriers Asiana and Korean Air would help grow the market.
Currently, the Australia-South Korea market was split 70 per cent South Korean travellers and 30 per cent Australian.
Looking ahead, Evans said he expected the directional flow to become more evenly balanced over time in a similar way the Australia-Japan market has evolved.
“We will grow both ends of the market but particularly we will grow the Australian end of the market,” Evans said.
“Japan sort of started about 70-30 now it is 50-50. We would imagine over time – a number of year – this market would move to a more 50-50 split.”
Further, a partnership with South Korea’s largest LCC Jeju Air, which has added its 7C airline code on the Jetstar flight as part of a hard block codeshare agreement, would also help raise awareness of the route in the South Korean market.
“The reason we are partnering with Jeju is because right now Jetstar brand has very little penetration in the Korean market so you need a strong partner to provide you with that brand strength and distribution in the market,” Evans said.
“That’s what Jeju brings.”
When Jetstar launched the route in May, it offered introductory fares of $179 one way. Since then, Evans said ticket prices for travel between the Gold Coast and Seoul Incheon have been in the $300 to $400 range.
“It’s those low fares that stimulate demand and open up markets,”Evans said.
“It has happened with us on a number of markets around Asia – Japan, Vietnam, Thailand. It will happen with Korea as well.”
Asked why Gold Coast was chosen as the city to launch flights to Seoul Incheon, Evans said that was where the demand was, noting inbound travellers from Asia loved to visit the Queensland city.
Further, Gold Coast was also able to act as a hub and gateway for the airline, offering convenient connections to other parts of Australia in both directions.
“The geography of the Gold Coast and the operation that we have got here into the Gold Coast means that we are building the Gold Coast as a hub for our Australian traffic,” Evans said.
“We are also seeing great demand from customers in Melbourne and Sydney connecting through the Gold Coast.”
Queensland Airports Ltd chief executive Chris Mills said the Jetstar flight opened up another new and exciting destination for locals on the Gold Coast, as well as new nonstop option for South Koreans travelling to Australia.
“South Koreans will have a direct link to our stunning beaches and hinterland, delivering significant benefits to our economy,” Mills said in a statement.
Queensland Tourism Minister Kate Jones noted the number of South Korean visitors to Queensland had grown by about 20 per cent to 76,000 visitors a year in the 12 months to June 2019, compared with 63,000 visitors in the prior corresponding period.
The new route was supported by the Queensland government’s attracting aviation investment fund, Queensland Airports and Destination Gold Coast.
Jones said the negotiations were completed over an 18-month period.
“Because it is taxpayers’ dollars to secure these new flights we always make sure that we believe that they meet our expectations for taxpayers,” Jones said.
“From our perspective we back flights that we know will attract and bring new tourists to Queensland.”
DETROIT — A battery-powered Lincoln SUV, due in mid-2022, will be the first Ford Motor Co. vehicle built on a custom electrified chassis that resembles a skateboard, which was developed by Ford-backed startup Rivian, according to several people familiar with the program.
The all-wheel-drive Lincoln SUV could compete against Rivian’s R1S, an electric sport utility vehicle slated to go into production in early 2021 that will be priced from $72,500. Both models will use Rivian’s so-called skateboard, a flexible platform that combines electric motors, batteries, controls and suspension.
On Tuesday, Ford declined to comment. Rivian did not respond to a request for comment.
The new Lincoln, which carries the internal program code U787, also could compete with premium offerings from others, including General Motors Co, which plans to introduce at least two new electric SUVs by 2023, one for Cadillac and one that could revive the Hummer name, sources have said.
Ford invested $500 million in Rivian this year and plans to help it begin production next year at a former Mitsubishi plant in Normal, Illinois.
When Ford made the investment, it said it would use Rivian’s skateboard to develop its own electric vehicle, but did not disclose details.
It is not clear where Ford intends to build the Lincoln SUV, which will be among the first of several battery-powered utility vehicles planned for Ford’s premium brand in North America and China, according to supplier sources familiar with those programs who asked not to be identified.
Ford expects to introduce a compact Lincoln electric crossover in late 2021 or early 2022 and a mid-size companion in 2023, the sources said.
The U.S. auto industry plans to invest billions of dollars over the next few years to build all-electric pickups and SUVs, sectors of the market that have been among the most profitable, especially for Detroit-based automakers.
But analysts have questioned whether demand from consumers and commercial customers will come close to matching production.
Founded in 2009, Rivian has raised $1.9 billion from investors, including e-commerce giant Amazon, which has ordered 100,000 electric delivery vehicles from Rivian. The first Amazon vans will be built in Normal and are to be delivered in 2021.
Ford aims to sell an electric F-series pickup in late 2021, sources have said. It also will offer the electric Mustang Mach E SUV next year as part of plans to invest $11.5 billion by 2022 electrifying its vehicles.
Provides an easy, relaxing and affordable experience as kids ride for free
NEW YORK – Amtrak has continued its partnership with the New York State Fair to provide direct train service for customers traveling as a more convenient, cost-effective, family friendly and comfortable way to travel to and from the Empire State’s largest annual event between Wednesday, Aug. 21 and Monday, Sept. 2.
Skip tolls, traffic and parking fees, and arrive steps from the fairgrounds via select Empire Service (Trains 281, 283, 284 and 288) and Maple Leaf (Trains 63 and 64) trains, which will make daily stops at the State Fair (in between stops at Rochester and Syracuse stations), adjacent to the Fairgrounds. The Amtrak station code for the New York State Fair is NYF.
Westbound trains originating in New York City stop at the Fair at 1:21 p.m. during the week and 12:56 p.m. on weekends (Train 63), 3:58 p.m. daily (Train 281) and 6:57 p.m. daily (Train 283). Eastbound trains originating from Toronto or Niagara Falls stop at the Fair at 9:33 a.m. (Train 284) and 3:00 p.m. (Train 64), and 5:45 p.m. only on Monday, Sept. 2 (Train 288) en route to Albany and New York City.
In addition to the Fair stop, Amtrak is also offering a “kids ride free” promotion (one free child for each paying adult on the same itinerary) for travel to and from the Fair, which must be booked online at Amtrak.com and at least three days in advance of travel with the promo code V153. This sale is valid only during the duration of the Fair and includes one blackout date on Friday, Aug. 30. Other terms and conditions apply.
Tickets are available now at Amtrak.com, via the Amtrak mobile app, at station ticket counters or by calling 1-800-USA-RAIL. As always, customers will enjoy plenty of legroom, a generous luggage policy, and scenic routes. Amtrak also offers free Wi-Fi, the freedom to use phones and electronic devices at all times (no “airplane mode”).
Amtrak has been offering train service to the New York State Fair since 2002. The New York State Fair, operated by the New York State Department of Agriculture and Markets, attracts more than one million people during the 13-day celebration of delicious food, eye-opening exhibits, captivating entertainment and great fun. The home of the Great New York State Fair is a 375-acre exhibit and entertainment complex that operates all year.
Fort Worth, TEXAS — American Airlines has launched a codeshare agreement with Cathay Dragon, adding service to four new destinations and increased service to three existing markets in Southeast Asia.
American will place its code on select Cathay Dragon flights from Hong Kong International Airport (HKG), providing American’s customers seamless connecting service to seven cities beyond Hong Kong. The new codeshare flights are available for sale now for travel beginning July 11.
The agreement allows American’s customers to connect to four new destinations in Asia:
Dhaka, Bangladesh (DAC)
Chiang Mai, Thailand (CNX)
Da Nang, Vietnam (DAD)
Phuket, Thailand (HKT)
It also increases frequencies to three existing markets served by American’s other partners in Asia:
Penang, Malaysia (PEN)
Kuala Lumpur, Malaysia (KUL)
Hanoi, Vietnam (HAN)
Established in 1985, Hong Kong-based Cathay Dragon is a wholly owned subsidiary of Cathay Pacific Group and an affiliate member of oneworld®. The airline’s network covers 53 destinations across the Asia-Pacific region, including 23 destinations in mainland China. The codeshare relationship with Cathay Dragon will further strengthen American’s existing partnership with the Cathay Pacific group in the years to come.
American has proudly served Hong Kong since 2013 and currently operates daily, year-round service from Dallas-Fort Worth and Los Angeles.
