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Airbus, Bombardier and Investissement Québec agree C Series Partnership closing effective July 1, 2018

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Airbus, Bombardier and Investissement Québec agree C Series Partnership closing effective July 1, 2018

·     Airbus to add A321 production capabilities in Toulouse

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    Airbus to acquire majority stake in the C Series Aircraft Limited Partnership, effective July 1, 2018

·         All regulatory approvals required for the closing of the transaction Airbus, Bombardier and Investissement Québec agree C Series Partner been obtained

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·         Partnership head office, leadership team and primary final assembly line located in Mirabel, Québec (representing some 2,200 employees and subcontractors), with the support of the C Series global supply chain

·       projected to represent 6,000 new aircraft over the next 20 years

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·         Addition of Airbus’ global reach to create significant value for C Series’ customers, suppliers, employees, shareholders and communities

·         Significant C Series production efficiencies anticipated by leveraging Airbus’ production ramp-up expertise

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·         Growing market for C Series to support second Final Assembly Line in Alabama, serving U.S. customers

Amsterdam / Montreal, June 8, 2018 – Having received all required regulatory approvals, Airbus SE (EPA: AIR), Bombardier Inc. (TSX: BBD.B) and Investissement Québec (IQ) have agreed to close the C Series transaction effective on July 1, 2018. Airbus to acquire majority stake in the C Series Aircraft Limited PartnershipThe transaction by which Airbus will acquire a majority stake in the C Series Aircraft Limited Partnership (CSALP) was initially announced in October 2017. The Mirabel-based partnership, which was originally established between Bombardier and IQ, will benefit from Airbus’ global reach, scale, procurement organization and expertise in selling, marketing and producing the C Series – a state-of-the-art jet aircraft family in the 100-150 seat market.

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Airbus will work with its partners Bombardier and IQ to fully unlock the C Series’ potential and create significant new value for customers, suppliers, employees, shareholders and the communities in which the partnership operates. The partnership’s head office, primary assembly line and related functions will be based in Mirabel, Québec.

As previously announced, Bombardier will continue with its current funding plan of CSALP. Due to the early closing of the partnership, the terms of this plan are updated according to the following schedule: Bombardier will fund the cash shortfalls of CSALP, if required, during the second half of 2018, up to a maximum of US$225 million; during 2019, up to a maximum of US$350 million; and up to a maximum aggregate amount of US$350 million over the following two years, in consideration for non-voting participating shares of CSALP with cumulative annual dividends of 2%. Any excess shortfall during such periods will be shared proportionately amongst CSALP’s Class A shareholders. Airbus will consolidate CSALP effective from July 1, 2018 onwards. Further financial information on the transaction will be provided later this year.

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The C Series program continues to ramp up. Having delivered 17 aircraft in 2017, it is gearing up to double its deliveries in 2018.

With the C Series’ demonstrated in-service performance and the finalization of this partnership, the parties expect increased demand to support a second C Series Final Assembly Line in Mobile, Alabama, dedicated to supplying U.S.-based customers. The C Series is positioned to capture a large percentage of the estimated 6,000 aircraft needed in this market segment over the next 20 years.

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Aviation

HAL’s Indigenous Tejas MK-1A completes its first maiden flight

The LCA Tejas Aircraft Crash: Understanding the Reasons - Air Marshal GS Bedi's Perspective

The inaugural flight of the first production series fighter of LCA Tejas Mark-1A, an advanced iteration of the LCA Mk-1 recently inducted by the Indian Air Force (IAF), completed its maiden flight in Bengaluru Today.

Over the past several days, the Defence PSU HAL has been conducting various taxi trials in preparation for this milestone.

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The maiden flight lasted 18 minutes and marked a triumph for the project. The Mk-1A boasts several enhancements, including digital radar warning receivers, an advanced AESA radar, improved beyond-visual-range (BVR) air-to-air missiles, and external self-protection jammer pods.

The upgraded Tejas Mark 1A aircraft features a larger cockpit canopy, enhancing the pilot’s outside visibility and facilitating better movement of their helmet. Additionally, the air intake has been redesigned to supply faster airflow to the engine, enhancing performance. Modifications to the vertical radar in the tail section have been made to improve control during turns. Overall, these upgrades elevate the aircraft’s standards compared to previous versions, providing increased comfort and functionality.

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Under a contract worth Rs 46,898 crore signed in 2021, HAL is mandated to deliver 83 Tejas Mk-1A jets between March 2024 and February 2028. This follows the completion of the order for 40 Tejas Mk1 jets valued at Rs 8,802 crore, of which 32 single-seat fighters and two twin-seat trainers have already been delivered.

The IAF, which currently operates two Tejas squadrons named ‘Flying Daggers’ and ‘Flying Bullets’, has deployed one squadron in the southwestern sector. Recognizing the significance of the Tejas in bolstering its fleet, the Defence Acquisition Council (DAC) has approved the acquisition of an additional 97 Tejas Mk-1A aircraft. However, the final clearance from the cabinet committee on security (CCS) is pending before the order can be placed.

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With the IAF grappling with a decline in the number of its fighter squadrons, which currently stands at 31 against the required 42 to effectively counter threats from China and Pakistan, the Tejas assumes a crucial role in filling this gap. Despite initial skepticism, the Tejas has evolved into a flagship platform for India, garnering attention and accolades at numerous defense and aerospace exhibitions worldwide.

However, it is essential to note that the IAF recently experienced its first loss of a Tejas Mk 1 fighter aircraft due to an air crash on March 12.

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Aerospace

South Korean KF-21 Completed First Successful Aerial Refueling

South Korean KF-21 Completed First Successful Aerial Refueling

The first aerial refuelling test of South Korea’s indigenous KF-21 Boramae fighter jet was successfully completed, marking a key milestone in the country’s defense capabilities.

Refueling from a Republic of Korea (ROK) Air Force KC-330 aircraft off the southern coast, the Boramae fighter jet took off from Sacheon Airbase, some 183 miles southeast of Seoul. The Defence Acquisition Programme Administration (DAPA) hailed this development, which represents a significant advancement for this state-of-the-art aircraft.

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The successful aerial refueling test corresponds with a staged production plan intended to ease worries brought forward by the feasibility assessment carried out a year ago. The research recommended cutting production to just 20 units and made additional test suggestions. A DAPA official continues to state that after discussions with pertinent agencies, plans are in place to conclude verification testing by June of this year and complete a contract for the remaining 20 units by February of the following year.

The kf 21, which has been compared to the Turkish KAAN and the Indian AMCA, has a more stealthy airframe than fourth-generation aircraft, but it is not yet capable of fifth-generation fighter capabilities. However, in the future, modifications such as internal weapons bays might force South Korea to reclassify it as a fifth-generation fighter. Even while South Korea has made significant strides towards constructing the KF-21, other countries, including Turkey and India, are also stepping up their efforts to push plans for creating fifth-generation fighter jets.

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As an initial phase, KAI boramae intends to manufacture a two-seat variant of the kai kf 21 boramae equipped with manned/unmanned teaming (MUM-T) capabilities. According to current plans, the Block 2 kf 21 fighter is slated for an upgrade to a low observability (LO) configuration, elevating it to the status of a fifth-generation fighter.

Additionally, KAI has put forward a proposal for the development of a Block 3 kf 21 boramae fighter jet, categorized as a sixth-generation fighter. This iteration would be larger, boasting enhanced stealth features and capabilities. It would incorporate more potent engines and operate within a comprehensive ‘system of systems’ framework, integrating with unmanned effectors for increased effectiveness.

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With the KF-21’s production set to start later in the year, DAPA intends to finalise an agreement with KAI by the beginning of 2024. The Republic of Korea Air Force (ROKAF) is expected to receive 120 KF-21 fighters by 2032.

The whole production plan for 40 kf21s has been approved by the Defence Project Promotion Committee, with an estimated cost of 7.92 trillion won (US$5.9 billion) between now and 2028.

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Aviation

Laser Attack on Aircraft after flying over at Mexico Fireworks Festival

Laser Attack on Aircraft after flying over at Mexico Fireworks Festival

In a shocking turn of events, a passenger jet was nearly blinded by the intense beams of hundreds of laser pointers wielded by festival-goers at a pyrotechnics festival in Tultepec, Mexico.

The harrowing incident unfolded last weekend during the National Pyrotechnic Festival, an annual celebration showcasing Mexico’s rich tradition in fireworks production and usage.

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Video footage captured the moment when a passenger jet, en route to Felipe Ángeles International Airport, soared above the festival grounds. As the aircraft approached, the sky became illuminated with a multitude of green laser beams, creating an eerie glow around the plane.

https://twitter.com/fl360aero/status/1770277290695385593

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The sight was both astonishing and terrifying, as the lasers posed a serious risk to the safety of the aircraft and its passengers. Social media erupted with condemnation towards the festival-goers, labeling their actions as idiotic and dangerous.

Social media erupted with condemnation as the video spread rapidly, with users expressing outrage at the dangerous behavior of the festival attendees. Many denounced the act as foolish and illegal, highlighting the potential consequences of such reckless actions.

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It is currently unclear if the police are investigating the video or if the airline targeted has complained to air safety officials.

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Airlines

Indigo contributed 31 crores to India’s political party for election funds

Indigo contributed 31 crores to India's political party for election funds

In a recent disclosure, it has come to light that Rahul Bhatia, the promoter of IndiGo, along with companies under his InterGlobe Group, has made significant donations totaling Rs 56 crore to four political parties. Additionally, SpiceJet, led by Ajay Singh, has contributed Rs 70 lakh to the Aam Aadmi Party (AAP).

The data further reveals that InterGlobe Air Transport Ltd, a part of the InterGlobe Group, purchased 11 electoral bonds valued at Rs 1 crore each on May 10, 2019, amounting to a total of Rs 11 crore. Similarly, Interglobe Aviation, the parent company of IndiGo, acquired 5 electoral bonds worth Rs 1 crore each on October 23, 2023, totaling Rs 5 crore.

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InterGlobe Real Estate Venture and InterGlobe Air Transport Ltd directed the lion’s share of their political contributions, totaling Rs 31 crore, to the Bharatiya Janata Party (BJP). Surprisingly, the second-largest recipient was the Trinamool Congress (TMC), receiving Rs 16.2 crore from Bhatia. Additionally, InterGlobe Aviation Ltd allocated Rs 5 crore to the Congress party, while Bhatia contributed Rs 3.8 crore to its ally, the Nationalist Congress Party (NCP).

Rahul Bhatia, individually, also made substantial contributions through electoral bonds, purchasing bonds worth Rs 20 crore. On April 7, 2021, a total of 29 electoral bonds were acquired, with 19 bonds valued at Rs 1 crore each and 10 bonds at Rs 10 lakh each, summing up to Rs 20 crore. When combined with the donations from IndiGo and its affiliated companies, the total contributions from the promoter and associated entities reach Rs 56 crore.

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On the other hand, SpiceJet, once a prominent player in the Indian aviation industry, has seen a decline in its market position, currently ranking fifth in terms of market share. Despite this, the airline has engaged in political contributions, with donations made in three separate installments.

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