Twinjet, s-duct, winglets, contra-rotating propellers: the aviation industry has developed numerous configurations over the last five decades that have enabled aircraft to fly higher, faster and longer. Now, Airbus engineers are unveiling a new configuration as part of the ZEROe programme that could enable a passenger aircraft to fly farther than ever without emissions.
The innovative approach consists of six, eight-bladed “pods” mounted beneath the aircraft wing. While the “podded” engine is not a new concept in aviation, these “pods” are not designed to be driven by any ordinary propulsion system: hydrogen fuel cells are among the key components.
“The ‘pod’ configuration is essentially a distributed fuel cell propulsion system that delivers thrust to the aircraft via six propulsors arranged along the wing,” explains Matthieu Thomas, ZEROe Aircraft Lead Architect. “Hydrogen fuel cells have very different design considerations, so we knew we had to come up with a unique approach.”
Indeed, hydrogen fuel cell technology has yet to be scaled up to a passenger-size large commercial aircraft. Smaller experimental hydrogen aircraft, comprising up to 20 seats, can rely on a traditional fixed-wing configuration with two propellers. But more passenger capacity and longer range require another solution. This is why Airbus is studying a variety of configurations, including “pods,” to determine which option has the potential to scale up to larger aircraft.
OSLO (Reuters) – Norwegian Air <NAS.OL> could run out of cash by mid-May unless its proposed financial rescue plan is approved by creditors and shareholders, the budget carrier warned on Monday.
If approved by bondholders, leasing companies and shareholders, the plan may help Norwegian survive the coronavirus outbreak, which has grounded 95% of its fleet, leaving just 7 aircraft in operation.
But the planned debt-to-equity swap will hand majority ownership of 53.1% to the company’s lessors, while bondholders would own 41.7%, leaving current shareholders with just 5.2%, it said.
The move would allow Norwegian to tap government guarantees of 2.7 billion crowns ($255 million), which are dependent on the company reducing its ratio of debt to equity, and which would come on top of 300 million crowns it has already received.
It is “critical to get access to the state aid package by mid-May before the company runs out of cash,” Norwegian said in a presentation to investors.
Rapid growth has made Norwegian Europe’s third-largest low-cost airline and the biggest foreign carrier serving New York and other major U.S. cities, but with the expansion came debts and liabilities of close to $8 billion by the end of 2019.
Last week, the company reported that four Swedish and Danish subsidiaries had filed for bankruptcy and that it had ended staffing contracts in Europe and the United States, putting some 4,700 jobs at risk.
Norwegian’s shares opened 8% lower on Monday and are down 86% year-to-date.
The company aims to gradually emerge from the COVID-19 crisis with both a short-haul and long-haul network in place, and is targeting a return to normal operations in 2022, it said.
The plan requires backing from bondholders in each of four separate votes planned for April 30, from shareholders in an extraordinary general meeting scheduled for May 4, and from leasing firms.
It maintained plans to raise up to 400 million crowns in cash from owners.
(Editing by Jan Harvey)
FILE PHOTO: A Norwegian Air plane is refuelled at Oslo Gardermoen airport
Record U.S. tariff award over Airbus aid could fuel trade tensions Logo of Airbus is pictured at the aircraft builder’s headquarters of Airbus in Colomiers near Toulouse
BRUSSELS/PARIS (Reuters) – Transatlantic trade ties face renewed disruption this week when global arbiters are expected to grant the United States a record award allowing it to hit European imports with billions of dollars of tariffs in a long-running aircraft subsidy dispute.
The World Trade Organization (WTO) has found that both European planemaker Airbus <EADSY> and its U.S. rival Boeing <BA> received billions of dollars of illegal subsidies in a pair of cases that have run for 15 years.
Both sides have threatened tariffs after the Geneva body found neither adhered fully to its findings. However, the United States has a head start, with the European Union having to wait until early in 2020 to hear what level of retaliation it can exact over Boeing.
The WTO is expected this week to reveal the amount of EU goods the United States can target. People familiar with the case say the three-person tribunal is expected to award it around $7.5 billion, a record for the 24-year-old watchdog.
Such retaliation rights are rarely granted by the WTO – most parties reach settlements – and in many cases complainants do not exercise their rights. The United States though has indicated it will target EU goods to the fullest extent.
It has already published a $25 billion list from which it will pick items to target from aircraft and aerospace parts to wine, cheese and luxury goods.
The WTO award in the world’s largest corporate trade dispute could fuel already strained trade tensions, diplomats say.
EU manufacturers are already facing U.S. tariffs on steel and aluminum and a threat from U.S. President Donald Trump to penalize EU cars and car parts. The EU has in turn retaliated.
Trade talks between the two, designed to ease tensions and ward off the threat of a tit-for-tat tariff war, have not gone well. The two sides have made some progress on regulatory cooperation, but a proposed deal to reduce duties is stuck, with Washington saying agriculture should be included and Brussels insisting it cannot.
The Trump administration has concluded that tariffs were effective in bringing China to the negotiating table over trade, and in convincing Japan to open its agricultural market to U.S. products. Washington is unlikely to skip the opportunity to implement tariffs in the case over aircraft subsidies, according to current and former U.S. officials.
Airbus has said this would lead to a ‘lose-lose’ trade war.
Some U.S. airlines have urged the administration not to go ahead with the tariffs, saying they could lead to layoffs.
NO SETTLEMENT IN SIGHT
The parties could still theoretically resolve the issue and stave off sanctions, but both sides accuse the other of failing to respond to invitations to reach a negotiated settlement.
U.S. officials say the decision about next steps will be up to U.S. President Trump.
The EU cannot retaliate immediately to any tariffs as it did following the U.S. imposition of metal tariffs in 2018.
It can either wait until a pronouncement in the parallel Boeing case or possibly revive an existing right to hit $4 billion of U.S. imports in a WTO dispute over U.S. tax breaks for exports, even though the two sides settled in 2006. Such a move would likely be strongly contested by Washington.
EU trade chief Cecilia Malmstrom has urged Washington to hold off sanctions and seek an overall deal on aircraft support, but Washington has shown no sign it wants to talk.
A U.S. government official said Washington has been willing since the very beginning to negotiate a solution, but that the EU gave more support to Airbus rather than fixing the problem.
EU-U.S. trade relations are likely to be a major focus in Brussels during a parliamentary hearing of the next trade commissioner, Irishman Phil Hogan, on Monday, and of national trade ministers meeting on Tuesday.
(Additional reporting by Andrea Shalal in Washington, reporting by Philip Blenkinsop; Editing by Elaine Hardcastle)
Record U.S. tariff award over Airbus aid could fuel trade tensions FILE PHOTO: Boeing Co’s logo is seen above the front doors of its largest jetliner factory in Everett
