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Airbus's Home City Looks Beyond Aviation to Survive Covid-19 Crisis

  • Airbus's Home City Looks Beyond Aviation to Survive Covid-19 Crisis Airbus's Home City Looks Beyond Aviation to Survive Covid-19 Crisis 6:11
    How Coronavirus Bailouts Could Help Spur Greener Air Travel How Coronavirus Bailouts Could Help Spur Greener Air Travel 6:49
9:08 a.m. Sept. 22, 2021 - By Victor Reklaitis
French ambassador to return to U.S. after Biden, Macron talk and attempt to repair riftThe French ambassador to the U.S. will return to Washington, D.C., next week after President Joe Biden and French President Emmanuel Macron spoke by phone Wednesday about the recent American submarine deal with Australia that angered France and led the country to recall its ambassador, the . The two leaders "agreed that the situation would have benefitted from open consultations," and they plan to meet in Europe in late October, the statement said.
10:30 a.m. Sept. 15, 2021 - By Victor Reklaitis
Biden to announce deal with U.K., Australia on sharing defense technology: reportsPresident Joe Biden on Wednesday will announce a new effort with the U.K. and Australia to share advanced defense technologies in a bid to counter China, according to reports from and . The White House said Biden is due to speak at 5 p.m. Eastern on a "national security initiative," and he will be joined virtually by U.K. Prime Minister Boris Johnson and Australian Prime Minister Scott Morrison.
8:59 a.m. July 9, 2021 - By Victor Reklaitis
Biden told Putin to disrupt ransomware groups in Russia: White HousePresident Joe Biden on Friday spoke with Russian President Vladimir Putin about the by criminals based in Russia that have hit the U.S. and other countries, the White House said in a statement. Biden "underscored the need for Russia to take action to disrupt ransomware groups operating in Russia," and the president reiterated that the U.S. "will take any necessary action to defend its people and its critical infrastructure in the face of this continuing challenge," the White House added.
6:17 a.m. May 25, 2021 - By Victor Reklaitis
Biden to meet Putin on June 16 in Switzerland: White HousePresident Joe Biden will meet with Russian President Vladimir Putin on June 16 in Geneva, Switzerland, the White House said in a statement Tuesday. The two leaders will "discuss the full range of pressing issues, as we seek to restore predictability and stability to the U.S.-Russia relationship," the statement said.
7:29 a.m. April 23, 2021 - By Victor Reklaitis
Biden to visit U.K., Belgium in June for first overseas travelPresident Joe Biden plans to travel to the U.K. and Belgium in June for his first overseas trips since taking office, the White House said Friday. He plans to attend a G7 summit in Cornwall on June 11-13 and then take part in a NATO summit in Brussels on June 14.
8:42 a.m. April 15, 2021 - By Victor Reklaitis
Biden to give speech on Russia Thursday after new sanctionsPresident Joe Biden will deliver remarks on Russia around 4:30 p.m. Eastern Thursday, the White House said in a statement. The speech comes after the Biden administration announced for "malign activities," including the current military buildup in Ukraine and the persecution of dissidents such as Alexei Navalny.
2:14 a.m. March 30, 2021 - By Ciara Linnane
Munich-based electric take-off and landing jet maker Lilium to go public via merger with SPAC QellLilium GmbH, a Munich-based maker of an electric vertical take-off and landing jet, said Tuesday it is going public via a merger with special purpose acquisition corporation Qell Acquisition Corp. in a deal with an implied $3.3 billion pro forma equity value. Qell, a SPAC or blank-check company, is led by Barry Engle, a former president of General Motors North America, and aims to invest in next-generation sustainable mobility. Once the deal closes, the company will be renamed Lilium and trade on Nasdaq under the ticker symbol "LILM." "Lilium can revolutionize regional travel, saving people hours not minutes," the companies said in a joint statement. "Using its 7-Seater Lilium Jet, revealed today, Lilium's regional shuttle service will enable sustainable, high-speed transportation." Lilium is expected to receive about $830 million of gross proceeds from a PIPE offering of $450 million along with $380 million cash held in trust by the SPAC. The deal is expected to close in the second quarter.
3:10 a.m. March 29, 2021 - By Ciara Linnane
Carlyle Aviation to acquire Fly Leasing in deal with enterprise value of about $2.36 billion Carlyle Aviation said Monday it has reached an agreement to acquire Dublin-based Fly Leasing Ltd. in a deal with an enterprise value of about $2.36 billion. Carlyle Aviation, the commercial aviation investment and servicing arm within The Carlyle Group's $56 billion Global Credit platform, will pay $17.05 a share in cash, equal to a premium of about 29% over FLY's closing price Friday, and a 43% premium over the volume-weighted average share price during the last 30 trading days. The deal is expected to close in the third quarter. "This transaction represents strong value for FLY shareholders at a time when airlines are facing an extremely difficult environment and smaller aircraft lessors are disadvantaged in the debt markets," said Fly Chief Executive Colm Barrington in a statement. Fly shares soared 23.7% premarket on the news, and are up 35% in the year to date, while the S&p 500 has gained 6%.
3:34 a.m. March 17, 2021 - By Victor Reklaitis
Biden says Putin 'will pay a price,' sending ruble lowerPresident Joe Biden in an ABC News interview that aired Wednesday morning addressed a that said Russian President Vladimir Putin authorized operations last year intended to hurt Biden's presidential campaign and exacerbate tension in the U.S. "He will pay a price," Biden said of Putin. Biden also said he thinks Putin is a killer. The Russian ruble was down more than 1% against the U.S. dollar after Biden's remarks aired.
6:20 a.m. March 8, 2021 - By Tomi Kilgore
GE's stock jumps toward 3-year high after WSJ report that deal to sell GECAS to AerCap is nearShares of General Electric Co. surged 2.7% toward a three-year high in morning trading Monday, as the industrial conglomerate is close to a deal of more than $30 billion to combine its aircraft leasing business with Ireland-based AerCap Holdings N.V. , . GE's stock, which is headed for a fourth-straight gain, has run up 29.3% year to date, to add to a in the fourth quarter. The WSJ report, citing people familiar with the matter, said GE's aircraft leasing unit, known as GE Capital Aviation Services (Gecas), is the biggest remaining piece of GE Capital, which GE has been looking to divest for years as part of its plan to shore up its balance sheet. In 2020, GE Capital suffered a revenue decline of $1.5 billion, or 17%, from a year ago, primarily because of GECAS, which was hit hard by the COVID-19 pandemic and the effects of the Boeing Co. 737 MAX groundings. Over the past 12 months, GE shares have rallied 48.6%, while the SPDR Industrial Select Sector ETF has climbed 30.5% and the S&P 500 has advanced 29.9%.
8:19 a.m. Dec. 3, 2020 - By Tomi Kilgore
Boeing's stock surge adding more than 110 points to the Dow's priceShares of Boeing Co. shot up 7.8% in midday trading Thursday, putting them on track to close at a 9-month high, after Ireland-based air carrier Ryanair Holdings PLC said it was by 75 planes. The aerospace and defense contractor's stock price gain of $17.38 was adding about 114 points to the Dow Jones Industrial Average's price, while the Dow rose 146 points, or 0.5%. Ryanair's increased orders comes after the F to allow Boeing's 737 MAX jets to fly again, after being grounded for safety reasons since March 2019. Boeing remains focused on safely returning the full 737 fleet to service and on delivering the backlog of airplanes to Ryanair and other customers," said Boeing Chief Executive Dave Calhoun.
5:59 a.m. Dec. 3, 2020 - By Steve Goldstein
Ryanair says it's ordering 75 more Boeing Max aircraftIrish discount carrier Ryanair said it's increasing its order of Boeing MAX-8200 aircraft by 75, taking its firm order to 210 from 135. "Now that the Boeing MAX aircraft has been certified by the FAA to return to service, Ryanair expects to take the first deliveries of these new fuel efficient and environmentally friendly aircraft from early 2021, and has confirmed 210 firm orders with Boeing for these gamechanger aircraft, which will be delivered over a 4-year period between Spring 2021 and December 2024," said Ryanair in a statement. Ryanair said it's agreed revised delivery dates with Boeing, and have also agreed compensation for the direct costs incurred by Ryanair over the past 18 months due to these delivery delays, although some of this compensation has been factored into a modest reduction in the pricing of this new aircraft order. Boeing shares rallied 3.7%.
11:29 a.m. Nov. 9, 2020 - By Vitaliy Katsenelson
U.S.-China cold war over technology has this investing pro buying up defense stocks Icy relations between two superpowers could deteriorate even further, affecting investorsIcy relations between two superpowers could deteriorate even further, affecting investors, writes Vitaliy Katsenelson.
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