Boeing has decided not to seek government financial assistance under the CARES Act “at this time” after completing a massive $25 billion bond offering to shore up its liquidity during the Covid-19 crisis, the company confirmed Thursday. Structured across seven tranches with multiple maturities ranging from three to 40 years, the new debt will allow Boeing to avoid exchanging government loans for equity in the company, a scenario CEO David Calhoun has said multiple times he did not favor.
The Coronavirus impact on the aviation Industry
May 1, 2020 - 9:42 AM
Within the last few days, data analysts have reported flickers of recovery in business aviation activity. Data released by WingX and online charter portal Avinode appeared to confirm anecdotal evidence that the sector might, very tentatively, be starting to turn the corner on the numbing effects of the Covid-19 pandemic.
Apr 30, 2020 - 12:43 PM
With an aggressive response to Covid-19, the FAA is committed to keeping the U.S. National Airspace System “open for business and operating normally” and will “continue our vital safety work,” Administrator Stephen Dickson told an online audience in his keynote address yesterday during the virtual Business Aviation Safety Summit (BASS) hosted by the Flight Safety Foundation (FSF).
Apr 30, 2020 - 12:03 PM
While the CARES Act payroll and loan provisions in the U.S. have received considerable attention within the industry, less highlighted measures surrounding tax treatment stand to help with business aircraft sales, according to the International Aircraft Dealers Association (IADA).
Apr 30, 2020 - 11:33 AM
Despite recent regulations on international business aviation flights put forth by Russia’s Federal Air Transport Agency (FATA) during the Covid-19 pandemic, aviation services provider A-Group reports its FBOs at Moscow Sheremetyevo and St. Petersburg Pulkovo International Airports are still fully operational.
Apr 30, 2020 - 10:39 AM
Airbus has begun developing a modification for A330 and A350 family widebodies designed to allow airlines to install freight pallets directly onto the cabin floor seat tracks, after removal of the economy-class seats, the company said Thursday.
Apr 30, 2020 - 10:07 AM
The FAA is building on its efforts to keep the national air transportation system operational to the extent possible during the Covid-19 pandemic with yesterday’s release of a “wide-ranging” Special Federal Aviation Regulation (SFAR) providing regulatory relief to pilots and other certificate holders from numerous time-sensitive requirements.
Apr 30, 2020 - 10:00 AM
Deliveries, revenue, and profit plunged in the first quarter at Textron Aviation as the Wichita airframer wrestled with the effects of the Covid-19 pandemic and, to a lesser degree, the December accident at its composite manufacturing plant.
Apr 29, 2020 - 2:27 PM
Aviation trainers have adapted their curriculums to an online environment to the extent possible in light of the Covid-19 pandemic, stressing a need to maintain currency and skills of today’s pilots and mechanics.
Apr 29, 2020 - 1:05 PM
Constraints on capital and shifting investment priorities could trigger a shakeout in the crowded eVTOL aircraft and urban air mobility sector, according to Kirsten Bartok Touw, founder and managing partner of the AirFinance group. Speaking at an April 29 NBAA-organized webinar on the future of innovation in aviation, she said companies able to attract investment before the Covid-19 emergency are now far better placed to bring their aircraft to market than competitors that still need to find funding.
