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Airbus, Safran and Tikehau Capital finalise acquisition of Aubert & Duval

Airbus CEO Expresses Concern Over Boeing's Ongoing Technical Issues

The holding company that is jointly held by Airbus, Safran, and Tikehau Capital has completed the purchase of Aubert & Duval from Eramet.

For high-precision clients, including the aerospace, defense, nuclear, and medical industries, Aubert & Duval is a vital supplier of essential components and materials. The company employs 3,700 employees, the majority of whom are from France, and has yearly revenues of over €550 million. The aerospace, transportation, energy, defense, and medical industries depend on its cutting-edge knowledge of specialty steels and superalloys as well as its more recent acquisition of titanium expertise.

“The purchase of Aubert & Duval illustrates the accelerating speed of change and consolidation in the aerospace industry. Tikehau Capital is proud to work with Airbus and Safran to support the company’s turnaround and the expansion of its industrial capabilities.

This operation is the most recent in a string of initiatives over the past few years to support and strengthen France’s aerospace industry, including the Ace Aéro Partenaires Investment Fund established in 2020 and managed by alternative asset management company Tikehau Capital with support from the French government, which retains a golden share in Aubert & Duval Company to safeguard its strategic interests.

Airlines

Turkish Airlines Expands U.S Network to 20 Destinations

Turkish Airlines Expands U.S Network to 20 Destinations

Turkish Airlines, renowned for its expansive global network, currently flies to more countries than any other carrier worldwide.

Recently, the airline has expanded its reach in the United States, bringing the total number of destinations served to 14. With the recent addition of Denver and Dallas, the airline is now setting its sights on further expansion.

In a recent interview, Turkish Airlines Chairman telegraphed the next four U.S. cities that are in their crosshairs: Philadelphia, Charlotte, Orlando, and Minneapolis. These additions will join an already impressive roster that includes Atlanta, Boston, Chicago, Dallas, Denver, Detroit, Houston, Los Angeles, Miami, Newark, New York JFK, San Francisco, Seattle, and Washington Dulles.

As of now, Turkish Airlines operates flights to 14 destinations across the United States. The confirmed destinations include Atlanta (ATL), Boston (BOS), Chicago (ORD), Dallas (DFW), Denver (DEN), Detroit (DTW), Houston (IAH), Los Angeles (LAX), Miami (MIA), New York (JFK), Newark (EWR), San Francisco (SFO), Seattle (SEA), and Washington (IAD).

Bolat, in his interview, indicated that Turkish Airlines plans to eventually serve 20 destinations in the United States. The proposed new routes to Philadelphia, Charlotte, Orlando, and Minneapolis would bring the total to 18, suggesting there are two additional cities potentially on the horizon.

However, it’s important to note that flights from Minneapolis and Orlando directly to Istanbul are not imminent, as the airline has not yet made any official announcements, and ticket sales have not commenced. Additionally, representatives from Minneapolis airport have not commented on the possibility of nonstop service to Istanbul.

The airline’s ambitious expansion plans are supported by the acquisition of numerous additional widebody planes over the next few years, necessitating new destinations to deploy these aircraft. Turkish Airlines’ strategy appears to be targeting major American Airlines hubs, ensuring a strong presence across key U.S. cities.

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Airlines

Singapore Airlines Offers $25,000 to Compensation Those Affected by Turbulence

Singapore Airlines Offers $25,000 to Compensation Those Affected by Turbulence

On Tuesday, Singapore Airlines announced a compensation package for passengers who sustained injuries during a turbulent flight last month. Flight SQ321, traveling from London to Singapore, encountered severe turbulence on May 20, 2024, resulting in a traumatic experience for those on board.

In a statement, Singapore Airlines (SIA) extended its deepest apologies to the passengers affected by the incident. The airline confirmed that compensation offers were sent out on June 10, 2024. For passengers who suffered minor injuries, SIA has offered $10,000 in compensation. Those with more serious injuries have been invited to discuss personalized compensation packages tailored to their specific needs once they feel ready.

A particularly tragic outcome of the turbulence was the death of a 73-year-old British man. Other passengers and crew members sustained serious injuries, including skull, brain, and spine injuries. For passengers requiring long-term medical care, SIA is offering an advance payment of $25,000 to address their immediate needs. This amount will be included in the final compensation package.

In addition to financial compensation, SIA is offering a full refund of the airfare to all passengers who were on flight SQ321, regardless of whether they were injured. Passengers will also receive compensation for the delay in accordance with European Union and United Kingdom regulations. To help with immediate expenses, each passenger was provided with S$1,000 upon arrival in Bangkok, where the flight was diverted. The airline has also covered medical expenses and arranged for family members of the injured to travel to Bangkok.

Affected passengers have received emails detailing their compensation offers and the process for claiming them. Singapore Airlines urges passengers to contact them for any inquiries or further assistance, promising prompt responses.

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Airlines

Severe Hailstorm Damages Nose and Cockpit Windows of Austrian Airlines Flight

Severe Hailstorm Damages Nose and Cockpit Windows of Austrian Airlines Flight

An Austrian Airlines flight from Palma de Mallorca, Spain to Vienna, Austria (flight OS434) encountered a severe hailstorm during its approach to Vienna-Schwechat Airport on Sunday, sustaining significant damage.

The airline reported that the aircraft was struck by a severe thunderstorm cell that was not visible on the weather radar, resulting in extensive damage to the cockpit windows, exterior coverings, and notably, the nose cone.

The cockpit crew, caught off guard by the invisible storm cell, made a mayday distress call as the plane was battered by hail. The impact damaged the two front cockpit windows, stripped coverings off the aircraft’s nose, and caused other external damage. Photos shared on social media vividly displayed the severe damage to the front of the plane.

Passenger Emmeley Oakley, who was on board during the chaotic flight, recounted the harrowing experience to ABC News. She mentioned that they were about 20 minutes from landing when the plane entered a cloud of hail and thunderstorm, leading to powerful turbulence.

“We could definitely feel the hail coming down on the plane and it was quite loud and… super rocky for a minute,” Oakley described in a text message to the station. She estimated that the plane took about two minutes or less to fly through the hailstorm, during which “phones and cups” were thrown around the cabin, causing some passengers to panic and scream.

Oakley praised the cabin crew for their swift and effective response in calming the distressed passengers, ensuring safety and order within the cabin. austrian airlines hail

Despite the turbulent and alarming approach, the flight landed safely at Vienna-Schwechat Airport, with no injuries reported among the passengers or crew. Austrian Airlines confirmed the safe landing and stated that their technical team is currently inspecting the aircraft to assess the extent of the damage.

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