The federal judge approved American Airlines’ bankruptcy plan of merging with US Airways Group Inc. (LCC). He said a U.S. antitrust lawsuit who is seeking to block the deal was no reason to delay it. The government has argued that American can arise from bankruptcy and compete on its own even without the airlines merger.
US Airways and American Airlines, which have been planning to combine the two airlines by the end of September, hit a major merger roadblock. The Justice Department filed a lawsuit on Tuesday to block the proposed $11 billion merger between American Airlines and US Airways, which would create the world’s largest airline.
European aerospace giant EADS on Wednesday confirmed its plans to change its name to Airbus. In a bid to unite its businesses and boost shareholder returns Airbus Group will combine defence and space activities in one division that will also contain the Airbus Military business currently twinned with passenger jets.
As expected, the US State Department has set things straight by directing the non-profit group Defense Distributed to remove all content related to the printing of handguns using 3-Dimensional printers from its website. Defense Distributed is the brain-child of Cody Wilson, an anarchist, who has been outspoken on 3D-gun printing ever since the recent gun-shooting sprees at schools that led to the death of several innocent students and teachers.
Newest data showed that the Ford Motor Co.’s Focus model had beaten its rivals in 2012 global car sales. The Focus model became the world’s best-selling car due to sharply increasing demand in China. The findings of the survey by R.L. Polk & Co. indicated that three models of Ford Motor Co. were in the world’s top six.
Engrossed by the idea of the most luxurious private jet? So have a look at the 747-8 Intercontinental which alos happens to be the Boeing’s biggest jet. The private jet has been hyped to be the world’s most expensive personal jet with a final price well in excess of $500 million.
Newest survey by much valued Swedish think-tank showed that China emerged as the world’s fifth-largest arms exporter, thereby bypassing the UK. The China’s improved capacity to construct desired and respected weapons demonstrates its economic and military stance as well.
EADS reported a huge plunge in its full year profits and revenues for the year 2012 as sales were driven by increased deliveries at its Airbus division. However, fourth quarter profits for the fiscal year 2012 dropped as EADS paid hefty restructuring charges and faced bad merger deals. Also, the company stated that it would not use raffish lithium-ion batteries in its oncoming Airbus A350 plane due to recent Dreamliner problems.
Not surprisingly, the US Department of Defense has informed that the dominance of Blackberry is over as it plans to open its networks to devices from Apple Inc., Google Inc. and other producers. A new “more agnostic” IT strategy is to be implemented in 2014. Certainly, it was a big hit for Canada-based Research in Motion (RIM) which had an exclusive contract with the US Department of Defense.
BAE posted lower-than-expected full year profits for 2012 as sales reduced while pre-tax profits slumped by approximately 6 percent, blaming delay in the final terms of pricing of the Saudi Arabia-based contract. The year ended on a rough note after BAE failed to seal a merger deal with EADS and stated that the growth potential in the UK and the US is likely to be “constrained”.
UK Prime Minister David Cameron arrives in India on the 18th of February with the biggest ever trade mission and will take part in three-day talks with Indian authorities. The delegation is aimed at tightening economic ties and increasing trade between the United Kingdom and India. UK Prime Minister David Cameron will be accompanied by a 100-person entourage, among which are parliamentarians and officials from companies and universities. The business delegation to India is a clear signal that the European nation is much interested in deepening relations with India which is expected to be the world’s third economy by 2050.
Rolls-Royce witnessed an increase in the full year profits by 24 percent to over £1.4 billion. The increase in the level of output at Boeing CO. and Airbus SAS led to stronger-than-expected profits for Rolls-Royce. Also, the company named Ian Davis as the chairman of the company.
On the 21st of December, BAE Systems PLC informed that it has agreed a deal to supply 20 aircrafts to Oman. A deal worth £2.5 billion, or over $4 billion, is expected to protect thousands of jobs in the United Kingdom.
General Electric has become the leader in the bid to take over the privately owned supplier of airplane parts in Italy, Avio. Sources familiar with the matter stated on the 15th of November that the company was set to present most of its plans to the officials of the government of Italy on the 16th of November.
Rolls-Royce Holdings Plc informed that its trading was on course as it announced that Alain Michaelis was to replace retiring chief operating officer Mike Terrett. The world’s second-biggest producer of commercial aircraft engines expects to see good growth in its full-year profit.
With a looming deadline of 5.00 p.m. October 10, 2012, there is much tension over the EADS-BAE effort to save merger that can lead to the establishment of the world’s greatest arms and aerospace group. With the EADS-BAE deal setback, German patronage for the problematic deal of 45 billion dollars (28 billion in pounds) is increasingly becoming dubious.
Britain’s BAE Systems and its rival EADS confirmed that they were talking on a $48 billion, or£30.4 billion, merger that could create the world’s second-largest aerospace, defense and security group. The merged equity is expected to generate approximately £60 billion revenues annually.
Philippine Airlines informed that it had signed a $7 billion contract to buy 54 Airbus jets as part of modernization program to meet higher demands for transporting both passengers and cargo in Asia, the Middle East and Australia. Moreover Philippine Airlines, the country's largest full-service carrier, announced that it planned to buy dozen more planes. Airbus won the $7 billion contract, beating Boeing Co. despite the U.S. support for Manila in a diplomatic dispute with the People’s Republic of China.