QuickRoundUp

Issue: 05-2022

AIRBUS

On April 27, 2022, Airbus signed a Memorandum of Understanding (MoU) with Tata STRIVE, a skill development initiative of Tata Trusts and the Aerospace and Aviation Sector Skill Council (AASSC) to train young Indians for employment in aviation and aerospace sectors. The AASSC is the apex body in skill development in aerospace and aviation sector under the aegis of National Skill Development Corporation (NSDC). The MoU was signed by Rémi Maillard, President and Managing Director, Airbus India & South Asia, Anita Rajan, CEO – Tata STRIVE and Wg Cdr Rachit Bhatnagar CEO, AASSC.

The Airbus Global Market Forecast which is well known for its evaluation of the airline industry’s aircraft needs during a 20-year time frams, also assesses the sector’s workforce and the most recent survey estimated a need for over 7,00,000 new technicians and engineers for aircraft maintenance by 2040. To assist the airline and maintenance industry, Airbus has launched a programme to support academies for training technical manpower.

BOEING

On May 2, 2022, Boeing reported increased stability and growth for aircraft finance sector as 100 percent of Boeing deliveries were financed by third parties with the top sources of delivery funding coming from cash, capital markets and sale leasebacks for second consecutive year. Capital markets continued to play a key role in shoring up liquidity for the sector, close to pre-pandemic levels for most issuers as spreads tightened throughout the year.

On April 28, 2022, Boeing unveiled the first T-7A Red Hawk advanced trainer jet to be delivered to the US Air Force. The jet, is one of 351 Red Hawk trainers the US Air Force plans to order. The fully digitally designed aircraft was built and tested using advanced manufacturing, agile software development and digital engineering technology, significantly reducing the time from design to first flight.

On April 26, 2022, Boeing Global Services announced a new agreement with Spirit AeroSystems, Inc and its affiliates to combine aftermarket resources, expanding the MRO footprint in support of nacelle and flight control repairs for the global Boeing 737 MAX fleet. The agreement will enhance Boeing support for nacelle and flight control surface removals with a more robust MRO footprint while combining Boeing’s industry-leading asset pool with the hands-on repair experience of Spirit AeroSystems.

NORTHROP GRUMMAN

On May 4, 2022, Northrop Grumman Australia announced that it will offer space technology capabilities to the Commonwealth for JP9102, the Australian Defence force’s Satellite Communication System project. Northrop Grumman, Inmarsat, L3Harris, AECOM, Blacktree Technologies, EM Solutions and Vocus will draw on decades of collective experience to invest in and grow an Australian sovereign satellite communications capability.