JetZero, a company developing the world’s first commercial blended wing body (BWB) airplane, has announced the addition of Rob Dewar to its Board of Directors. Dewar, a veteran aerospace innovator, brings decades of experience in leading successful aircraft programs, including the Airbus A220, formerly known as the Bombardier CSeries. Dewar’s expertise is expected to be invaluable as JetZero works towards its goal of delivering the BWB to market by 2030.
Boeing has announced a six-month delay in reaching its production target for the 737 MAX, citing challenges in ramping up production. The new target is to reach a monthly output of 42 jets by March 2025, instead of the previous goal of September 2024. This delay comes amidst a series of challenges including a mid-air incident in January, a potential strike by union workers, and a tentative labor agreement that has left many workers dissatisfied.
U.S. defense giant Lockheed Martin and India’s Tata Advanced Systems have joined forces to manufacture and assemble the C-130J Super Hercules tactical airlifter in India. This strategic partnership aims to enhance India’s defense capabilities and strengthen bilateral ties between the two nations.
Boeing and its largest union, IAM, have reached a tentative labor agreement, but it has left many workers unhappy. The agreement includes a 25% wage increase and a promise to build the next commercial airplane in Seattle, but workers were hoping for a 40% pay rise and the reinstatement of the defined-benefit pension plan. A strike could disrupt Boeing’s operations, adding to its existing financial and safety challenges.
Boeing shares surged after the company reached a tentative agreement with a union representing over 32,000 workers, potentially avoiding a strike that could have disrupted production. The deal includes a significant wage increase and commitment to build the next commercial airplane in the Seattle area. Analysts view this as a positive development for Boeing, but also highlight the potential risk of rejection by union members.
On September 21st, 2024, Billy Bishop Toronto City Airport will host ‘Girls Take Flight,’ a free event designed to encourage girls and underrepresented groups to pursue careers in aviation and aerospace. The event will feature hands-on activities, interactive exhibits, and motivational speeches from industry experts.
Boeing and its largest union, the International Association of Machinists and Aerospace Workers (IAM), reached an agreement that averts a potential strike, granting workers significant pay increases and a commitment to build the next commercial airplane in the Seattle area. The agreement, which includes a 25% general wage increase over four years, marks an early victory for Boeing’s new CEO, Kelly Ortberg, who is tackling quality concerns and regulatory scrutiny.
XLCS Partners, a leading middle-market investment bank, has acted as the exclusive advisor to Innodyne Systems in its recent investment by FCAH Aerospace, a portfolio company of O2 Investment Partners. Innodyne, a renowned FAA/EASA Part 145 repair station specializing in aircraft maintenance, repair, and overhaul (MRO) services, is known for its advanced engineering capabilities and diverse customer base.
Boom Supersonic’s experimental supersonic aircraft, XB-1, has successfully completed its second flight, marking a significant step towards the company’s goal of achieving supersonic flight. The 15-minute flight showcased the aircraft’s landing gear retraction and extension, as well as a new digital stability system, demonstrating progress towards its eventual supersonic capabilities.
Recent insider purchases at HighPeak Energy, Mercury Systems, and MYR Group suggest potential investment opportunities. These companies are in the energy, aerospace & defense, and electrical construction sectors, respectively. While insider trades can offer valuable insights, they should not be the sole basis for investment decisions.
