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The U.S. Department of Justice (DOJ) has reported to a federal judge that Boeing has breached a settlement agreement that previously allowed the aerospace giant to avoid criminal prosecution. This agreement was related to the investigations following two fatal accidents involving Boeing's 737 Max aircraft, which occurred over five years ago. The specific details of [...]
The U.S. Justice Department has declared that Boeing Co. failed to comply with the terms of a 2021 agreement that had previously shielded the aerospace giant from criminal prosecution related to the 737 MAX crashes in 2018 and 2019, which collectively resulted in the deaths of 346 people. This finding was disclosed in a recent [...]
Boeing announced a minor drop in its commercial airplane deliveries for April, handing over 24 jets, two fewer than the same month last year. The slight decrease comes as the U.S. aerospace giant continues efforts to enhance the production quality of its 737 MAX jets, amid ongoing scrutiny from aviation regulators. The company faced significant [...]
AELF - Aircraft Engine Lease Finance has successfully obtained a $40 million credit facility from Merchants Bank of Indiana, a strategic move to enhance its Boeing 737-800 fleet amid favorable market conditions. Based in Chicago, AELF aims to capitalize on growth opportunities by expanding its portfolio of narrowbody aircraft. This funding initiative is backed by [...]
The Department of Justice (DOJ) has scheduled a critical meeting with the families of the victims involved in the Boeing incidents, set to take place on May 31. This meeting is seen as a pivotal step as the DOJ nears a decision regarding the case. Families of the victims received letters inviting them to attend [...]
Spirit AeroSystems, a major supplier in the aerospace sector, is exploring various liquidity options, including the possibility of entering the financial markets to raise cash. This consideration follows a difficult first quarter where the company reported significant losses and experienced higher-than-anticipated cash burn. The quarter's results were heavily influenced by disruptions at Boeing, Spirit's largest [...]
Brazil's Embraer is not presently engaged in designing an aircraft to directly rival the Boeing 737 Max or the Airbus A320. Francisco Gomes Neto, Embraer's CEO, has clarified that although the company possesses the capability to develop a larger aircraft, they currently lack immediate plans to do so. According to Neto, embarking on such a [...]
Dubai Aerospace Enterprise (DAE) Capital is set to receive approximately half of the aircraft originally promised by Boeing for delivery this year, according to DAE's Chief Executive. This announcement marks a significant reduction in expected deliveries from the planemaker, impacting DAE's operations and fleet expansion plans for the year. Sources: AirGuide Business airguide.info, bing.com, reuters.com
Spirit AeroSystems Holdings and Airbus are reportedly gearing up for high-level talks regarding the potential takeover of crucial airplane manufacturing assets. According to Bloomberg News, senior executives from both companies will convene in New York soon to discuss the details of this significant acquisition, highlighting the strategic moves within the aerospace industry. This meeting signifies [...]
Boeing has tapped into public credit markets to raise $10 billion as it continues to navigate significant financial and operational hurdles. This fundraising effort comes at a crucial juncture for the aerospace giant, which is still grappling with the fallout from its 737 Max 9 door plug incident in January, alongside efforts to ramp up [...]
