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Airbus plans to deliver approximately 800 aircraft this year, which is a 10% increase from the previous year. However, the company has set a low bar for adjusted free cash flow in 2024 due to ongoing supply chain issues. Despite this, Airbus remains optimistic about demand levels and believes that its delivery goal strikes a good balance between supply chain constraints and high-quality, safe planes. The company also sees an opportunity to win more business as rival Boeing faces challenges following a recent accident. Airbus had a successful year in 2023, beating its delivery target and generating strong earnings. However, it is facing challenges in ramping up production of its A321neo model and dealing with potential issues with Pratt & Whitney engines. [Extracted from the article]

Chinese carmakers experienced a significant decline in electric vehicle (EV) sales in Europe, with registrations dropping by 48% in August compared to the previous year. This decline marks the second consecutive month of decreasing market share for Chinese brands. The uncertainty surrounding provisional European Union tariffs on Chinese EV imports may have contributed to MG's 65% decrease in August. However, Chinese automaker BYD Co. saw a 19% increase in registrations during the same period. The impact of EU tariffs on all EVs imported from China, including those from non-Chinese companies, is still being assessed. The overall demand for EVs in Europe has also declined, with registrations falling by 5.5% in the first eight months of the year. European automakers have called for a reconsideration of climate targets that could result in substantial fines. While EV registrations from China have seen mixed results in different countries, the UK and Norway experienced an increase in August. Western brands such as BMW, Mercedes-Benz, and Renault saw significant declines in registrations, while Volvo and Tesla had varying results. It is important to note that Volvo and Polestar are not considered Chinese brands by Jato and Dataforce, respectively. The market figures provided by Dataforce cover all EU and EFTA countries, excluding Hungary and Slovakia for August. [Extracted from the article]

Chinese carmakers experienced a significant decline in electric vehicle (EV) sales in Europe, with registrations dropping by almost half in August compared to the previous year. This decline marks the second consecutive month of decreasing market share for Chinese brands. The uncertainty surrounding provisional European Union tariffs on Chinese EV imports may have contributed to MG's 65% decrease in August. However, Chinese automaker BYD Co. saw a 19% increase in registrations during the same period. The impact of EU tariffs on all EVs imported from China, including those from non-Chinese companies, is still being assessed. The overall demand for EVs in Europe has also declined, with registrations falling by 5.5% in the first eight months of the year. European automakers have called for a reconsideration of climate targets that could result in substantial fines. While EV registrations from China have been inconsistent due to tariffs, countries like the UK and Norway, which have not implemented the EU's tariffs, saw an increase in EV registrations. Western brands such as BMW, Mercedes-Benz, and Renault experienced significant declines in August registrations, while Volvo's parent company, Zhejiang Geely Holding Group, saw a doubling of sales, driven by the popular Volvo EX30. Tesla, which imports some cars from China to Europe, saw a 7% increase in registrations. It is important to note that Volvo and Polestar, both partly owned by Geely, are not considered Chinese brands by Jato, although they are included in [Extracted from the article]

Vertical Aerospace's founder and majority owner, Stephen Fitzpatrick, is seeking rule changes to gain more control over the struggling air-taxi startup's board. Fitzpatrick, who stepped down as CEO last year, has pledged to invest $50 million in the company but missed a deadline for the second installment. He has requested an extraordinary general meeting to amend the company's bylaws and remove the requirement for independent directors. Vertical Aerospace, which needs additional capital to continue operations, is in discussions for a potential third-party investment and is working towards certification and commercial service of its battery-powered air taxi. [Extracted from the article]

Chinese automakers, including SAIC Motor Corp.'s MG and BYD Co., saw a decrease in electric vehicle (EV) registrations in Europe in July due to new tariffs and a general decline in EV sales. The introduction of tariffs on Chinese-made EVs in July raised duties as high as 48%, leading to trade tensions and retaliatory probes. The European Commission found SAIC's responses to its probe to be "highly deficient" and imposed maximum duties. Chinese carmakers rushed to register EVs before the tariff deadline, resulting in fewer EVs available for sale in July. Incentives also play a significant role in EV sales, with Germany experiencing a 37% decline in EV sales in July. However, countries like Belgium, Denmark, and the UK, where EV incentives remain in place, saw continued growth in EV registrations. [Extracted from the article]

The European Union's implementation of tariffs on Chinese-made electric vehicles (EVs) has resulted in a 45% decrease in the number of new EVs registered in the EU by Chinese automakers in July. This decline may have been influenced by carmakers rushing to deliver EVs before the tariffs took effect. The tariffs, which can reach up to 48%, aim to protect the EU's automotive industry from Chinese competitors who benefit from state subsidies. Despite the decrease, Chinese brands still hold a significant share of the EU's electric car market and continue to expand in Europe. [Extracted from the article]

Chinese electric vehicle (EV) brands captured a record 11% share of the European market in June, driven by manufacturers trying to beat new European Union tariffs. SAIC Motor Corp. led the charge, shipping its MG4 hatchback in volume. Chinese brands registered over 23,000 battery-electric vehicles in Europe during the month, a 72% increase from May. However, the sustainability of these gains will be closely watched as the new tariffs take effect. European policymakers are trying to balance the goal of sustainability with protecting the legacy automaking industry. [Extracted from the article]

Chinese electric vehicle (EV) brands captured a record 11% share of the European market in June, driven by manufacturers trying to beat new European Union tariffs. SAIC Motor Corp led the charge, shipping its MG4 hatchback in volume. Chinese brands registered over 23,000 battery-electric vehicles in Europe during the month, a 72% increase from May. However, the sustainability of these gains will be closely watched as the new tariffs take effect. Carmakers on both continents are rushing to add European EV manufacturing to avoid the new duties, while tensions between China and the EU risk escalating into a trade war. [Extracted from the article]

Chinese electric carmakers are expanding in Europe to counteract the impact of tariffs imposed by the European Union (EU) on Chinese electric vehicles. The EU's tariffs, which can reach up to 48%, threaten to make Chinese EVs more expensive for consumers or unprofitable. To avoid these tariffs, Chinese EV manufacturers are partnering with local European companies and setting up production facilities in Europe. This expansion poses a risk to European auto giants, who are already facing declining sales and may have to close some of their own sites. However, Chinese EV makers currently hold less than 10% of the European market share. [Extracted from the article]

Boeing had a successful first day at the Farnborough International Airshow, securing approximately $12.6 billion in aircraft sales. The focus was on widebody jets, as airlines that had previously focused on narrowbody aircraft during the pandemic now sought larger planes. Korean Air Lines led the way with an order for 20 777-9 and 20 787-10 Dreamliner jets, with options for 10 more. Boeing's Monday haul included 56 firm orders and 22 options, while Airbus signed a deal for 20 A330s. Boeing's firm orders alone are valued at around $9.39 billion. [Extracted from the article]

The aviation industry must introduce cleaner planes by the mid-2030s in order to achieve its goal of eliminating net carbon emissions from air travel by 2050, according to a study by the International Council on Clean Transportation. The study emphasizes the need for new models that emit net zero carbon dioxide throughout their lifetimes, particularly planes powered by hydrogen. The report highlights the challenge of decarbonizing aviation due to the long life-cycles of commercial aircraft. The study calls on planemakers to accelerate the development of zero-emissions planes and increase investments in sustainable fuels. [Extracted from the article]

Chinese electric-car brands have maintained their market share in the European EV market, despite new tariffs aimed at protecting local carmakers. Chinese automakers like BYD Co. accounted for 8.7% of total EV sales in May, similar to the previous year, as they put pressure on European counterparts with affordable models. The European Union has implemented provisional import tariffs of up to 48% on Chinese-made models, including BMW's iX3 SUV and Tesla's Model 3. While Chinese brands have maintained market share, overall European EV demand has declined due to the removal or reduction of EV subsidies and a focus on internal combustion engine cars. [Extracted from the article]

Air France-KLM has warned of a revenue shortfall at its French operations this summer due to passengers avoiding Paris during the Olympic Games. The airline group expects a revenue decrease of €160 million to €180 million from June to August. French residents are postponing holidays until after the Olympics, while international customers are staying away. Despite this, Air France is optimistic about travel returning to normal after the games and is seeing encouraging demand for the end of August and September. [Extracted from the article]

Deutsche Lufthansa AG, Europe's largest airline group, will implement a surcharge of up to €72 ($77) per flight in 2025 to cover the increasing costs of alternative fuels needed to reduce aircraft emissions. The surcharge will apply to all departures from the European Union, the UK, Norway, and Switzerland. This move aligns with EU regulations that require airlines to use at least 2% sustainable aviation fuels by 2025. The airline industry aims to achieve net-zero carbon emissions by 2050, but the costs of transitioning to sustainable fuels are expected to be passed on to customers. [Extracted from the article]

Czechoslovak Group has increased its offer to acquire Vista Outdoor Inc.'s Kinetic Group ammunition unit to $2 billion in order to prevent a competing takeover. The revised agreement includes a cash consideration of $18 per share for Vista Outdoor shareholders, who would retain ownership of the rest of the company. The deal would allow Czechoslovak Group to add Remington and Speer bullets to its product offerings, while Vista Outdoor would focus on brands such as Bell bicycle helmets and Camelbak hydration products. The acquisition is subject to approval by shareholders and regulatory bodies. [Extracted from the article]

Czechoslovak Group has increased its offer to acquire Vista Outdoor Inc.'s Kinetic Group ammunition unit to $2 billion in order to prevent a competing takeover. The revised agreement includes a cash consideration of $18 per share for Vista Outdoor shareholders, who will retain ownership of the rest of the company, which will be renamed Revelyst Inc. The deal would allow Czechoslovak Group to expand its ammunition offerings and maintain a commitment to US workers and customers, while Revelyst would focus on brands such as Bell bicycle helmets and Camelbak hydration products. The deal is expected to be completed this year, pending clearance from the Committee on Foreign Investment in the United States. [Extracted from the article]

An Austrian Airlines flight safely landed in Vienna after a severe hailstorm caused significant damage to the plane's nose cone and cockpit windows. The 23-year-old Airbus A320 encountered the storm after departing from Palma de Mallorca. Photos showed the nose radome stripped away, exposing the radar antenna, and the rest of the plane's skin covered in dents from hailstones. The two windows in front of the pilots were heavily damaged but remained intact. The airline stated that the pilots declared an emergency and landed safely, with no harm to passengers. [Extracted from the article]

An Austrian Airlines flight safely landed in Vienna after a hailstorm caused significant damage to the plane's nose cone and front windows. The 23-year-old Airbus A320 encountered the storm after departing from Palma de Mallorca. Photos showed the nose radome stripped away and the remaining skin dented from hailstones. The two windows in front of the pilots were damaged but intact. Aircraft are designed to withstand severe weather, including hail, and recent incidents of turbulence have increased scrutiny on passenger safety. Austrian officials and parent company Deutsche Lufthansa AG have not yet commented on the incident. [Extracted from the article]

IT's been a smackdown kind of year for Jakks Pacific Inc. The Malibu-based toymaker, known for its World Wrestling Entertainment action figures, has a goal to become a $1 billion-in-revenue [...]

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Chinese automaker BYD plans to bring its Seagull hatchback to Europe next year, offering premium features at a price of less than $10,000 in China. Even after tariffs and modifications to meet European standards, BYD expects to sell the Seagull for less than €20,000 ($21,500) on the continent. This poses a threat to European automakers who are relying on more expensive electric vehicles to transition away from combustion engines. BYD's entry into the European market is part of a larger trend of Chinese carmakers targeting exports after dominating the domestic market. [Extracted from the article]

UK pubgoers are facing a new dilemma: whether or not to tip. Some of the country's largest pub chains are now asking customers to add a gratuity of 10% or more to their bill, a departure from the traditional practice of tossing a few coins into a jar. This shift is driven by cashless transactions and the influence of American bar and restaurant customs. The pandemic has also played a role, with QR codes replacing physical menus and prompting customers to tip as they pay by phone. Pub chains are increasing tips to attract staff and offset wage and food-cost inflation. However, some customers find this trend confusing and unnecessary, while others believe it is a way for business owners to make up for low wages. Technology, such as handheld card readers, has facilitated this change, allowing merchants to suggest added tips. Tipping is now occurring with the second-greatest frequency at pubs, bars, and nightclubs, accounting for over 90% of tipping across the UK. Pub chains are implementing these practices to recruit and retain staff, as well as comply with new rules that prohibit employers from retaining any portion of service charges. However, some pubs are resisting this trend, and tipping practices vary among establishments. In the UK, tipping has become more common in recent years, but it is still relatively low compared to the US. [Extracted from the article]

Boeing's ongoing crisis with the 737 Max has exacerbated the shortage of popular narrowbody aircraft, leading to a surge in rental prices for used jets. The production slowdown of the 737 Max, combined with Airbus' struggles to increase output, has resulted in a scarcity of available planes. As a result, airlines are turning to leased aircraft, particularly the largest single-aisle jets that can accommodate more passengers. The monthly rental rates for models like the 737 Max 9 and the Airbus A321-200 have reached or exceeded pre-pandemic levels. Lessors now have more leverage and are more likely to transfer planes from struggling airlines to those willing to pay a premium. The shortage of aircraft and the increase in rental prices began in 2023 due to the rapid rebound of air travel after the pandemic, while Airbus and Boeing took longer to ramp up production. Airbus deliveries are gradually increasing, but supplier constraints and engine issues have further limited availability. Boeing has faced disruptions since the global grounding of the 737 Max in 2019, and its efforts to increase deliveries have been hindered by production glitches and regulatory scrutiny. The uncertain debut of the largest 737 model, the Max 10, has forced some airlines to adjust their growth plans or seek alternative aircraft. US regulators have also imposed a cap on Boeing 737 deliveries to prioritize safety and manufacturing improvements. [Extracted from the article]

Boeing's production delays are causing disruptions for airlines and passengers, exacerbating an existing shortage of single-aisle jets. United Airlines, Southwest Airlines, and Ryanair are among the carriers affected, as they face reduced deliveries from Boeing. The shortage of planes is also impacting Airbus, Boeing's main competitor, which is struggling to raise production rates. As a result, passengers can expect fewer flight options and potentially higher prices, particularly on domestic and regional routes. However, summer fares are not expected to rise significantly above pre-pandemic levels. [Extracted from the article]

Boeing's stock has dropped over 25% this year as the company faces a crisis of confidence. The Justice Department has opened a criminal investigation into an accident involving a 737 Max flight, which has led to increased scrutiny and oversight of Boeing's manufacturing processes. Regulators have capped Boeing's output, and the company must show progress in fixing its processes within the next three months. The investigation has gained public attention and there are concerns about criminal liability, although the grand jury activity does not necessarily mean charges will be filed. [Extracted from the article]

Boeing's stock has dropped over 25% in 2024 after the US Justice Department initiated a criminal investigation into a midair blowout of a 737 Max fuselage panel. Alaska Airlines confirmed the investigation, causing Boeing's shares to slide. The investigation, which includes a grand jury, suggests that the probe into Boeing's potential criminal liability is deepening. The company is facing increased scrutiny and growing concerns from legislators, regulators, and passengers following a series of incidents and revelations about manufacturing lapses. The Federal Aviation Administration has pledged to rigorously address any regulatory issues with Boeing. [Extracted from the article]

Boeing's stock has dropped over 25% in 2024 after the US Justice Department initiated a criminal investigation into a midair blowout of a 737 Max fuselage panel. Alaska Airlines confirmed the investigation, causing Boeing's shares to slide further. The investigation, which includes a grand jury, suggests that the probe into Boeing's potential criminal liability is intensifying. The company is facing increased scrutiny and criticism from regulators, legislators, and passengers following a series of incidents and revelations about manufacturing lapses. [Extracted from the article]

Melrose Industries Plc, a London-based supplier of aerostructures and engine components, has reported that supply-chain issues in the aerospace market are hindering its growth. The company expects to generate £3.6-3.75 billion in revenue this year, an increase of up to 12% from the previous year. However, the sector-wide supply chain issues, including difficulties in securing raw materials and components, have slowed aircraft output and grounded planes globally. Major customers of Melrose, Airbus SE and Boeing Co., are also facing challenges in raising output due to these supply chain issues. Despite these setbacks, Melrose has kept up with the pace of the original equipment manufacturers (OEMs) but continues to face challenges in accessing raw materials. Labor shortages, another obstacle to increasing output, have eased. Melrose's shares fell by 4.3% following the announcement. The company has also raised its outlook for operating income this year after completing a 2023 breakup that transformed it into a pure-play aerospace manufacturer. Melrose is currently working on further site reductions and refining its defense portfolio. The company is a partner on the Pratt & Whitney geared-turbofan engine, which has experienced issues with powdered-metal coatings, leading to the grounding of hundreds of Airbus A320-series jets. Melrose is in discussions with Pratt parent RTX Corp. regarding its share of the costs of the fixes. [Extracted from the article]

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Flying saw improved safety records in 2023, with the fewest fatalities on passenger jets since 2017. However, Russia experienced a significant increase in air-safety incidents due to sanctions that have made it difficult for airlines to acquire necessary parts for maintenance. Despite this, fatalities in Russia remained below previous years' levels. In other parts of the world, concerns about air safety were raised after incidents in Japan and the US, leading to increased oversight and requests for additional staff. Overall, advancements in manufacturing standards and lessons learned from past accidents have contributed to reducing fatalities in aviation. [Extracted from the article]

Spirit Airlines has affirmed that its deal with JetBlue Airways is still in effect, despite a federal judge blocking the buyout. The airline is seeking ways to improve its liquidity and has outlined plans to refinance its debt. Following the court decision, Spirit's market value dropped significantly, leading to concerns about bankruptcy or liquidation. However, the company is working to regain support and has seen a surge in its shares and bonds. Spirit also stated that it is not pursuing bankruptcy and expects strong fourth-quarter revenue. [Extracted from the article]

Spirit Airlines has reaffirmed its support for a deal with JetBlue Airways, stating that the agreement remains in effect despite a recent court ruling blocking the merger. The announcement provided some relief to investors, with Spirit's stock jumping 23% in premarket trading. The airline is also exploring options to refinance its debt and is in negotiations with Pratt & Whitney over compensation for issues with its geared turbofan. The update aims to calm investor anxiety following concerns over Spirit's ability to survive without the JetBlue deal. [Extracted from the article]

Spirit Airlines Inc. has expressed its continued support for its plan to merge with JetBlue Airways Corp., despite facing opposition from US regulators and a court decision that blocked the deal. Despite this setback, Spirit's stock surged by 12% in premarket trading. The company disagrees with the court's ruling and believes that the merger with JetBlue would enhance competition and choice. Spirit is also considering options to refinance its debt and has confirmed that its fourth-quarter revenue exceeded expectations. The two companies are currently reviewing the court's decision, and Spirit is reportedly trying to convince JetBlue to appeal the ruling. [Extracted from the article]

Boeing is increasing inspections and reviewing its quality controls after a recent incident on an Alaska Airlines flight involving a 737 Max aircraft. The company will inspect mid-exit door plugs at its supplier, Spirit AeroSystems Holdings, before they are shipped to Boeing. An outside party will also be brought in to review quality controls and suggest improvements. The Federal Aviation Administration (FAA) has grounded most of the 737 Max variant and is increasing oversight of Boeing's manufacturing process. The National Transportation Safety Board is investigating the incident, which involved missing locking bolts on the door plug. Boeing is also inspecting other points in Spirit's manufacturing process. The company's reputation is at stake, and it is working to restore trust with regulators and customers. [Extracted from the article]

Boeing has announced that it will increase inspections of aircraft under production and allow airline customers to visit its factories in an effort to enhance quality control. This decision comes after a near-disaster on an Alaska Airlines flight earlier this month, where a door panel blew out midflight. Boeing will be working closely with its major supplier, Spirit AeroSystems Holdings Inc., and will also bring in an external party to review its quality controls and suggest improvements. The company aims to improve manufacturing processes and restore customer confidence following the incident. [Extracted from the article]

Boeing is currently facing significant challenges due to safety and design failures, particularly with its 737 Max model. The company's reputation has been severely damaged following two crashes that resulted in the deaths of 346 people. Investigations by the Federal Aviation Administration and Congress are underway, and Boeing will need to reassess its safety protocols and prioritize engineering and safety to regain trust. The company's future depends on returning to its previous focus on safety and quality, which may require a pause in its rivalry with Airbus. Boeing is also facing scrutiny for manufacturing defects, and the FAA is considering bringing in a third party to oversee inspections and quality control. Airbus, on the other hand, has taken a more conservative approach and has kept more manufacturing in-house. Boeing's market position and reputation are at risk as it faces competition from Airbus and pressure to increase production. [Extracted from the article]

Honeywell International has agreed to acquire the security business of Carrier Global Corp. for $5 billion, marking the company's largest deal since 2015. The acquisition will expand Honeywell's product offerings in security controls for buildings, strengthening its position in the high-growth security category. This is the first major acquisition under Honeywell's CEO Vimal Kapur, who took over in June. The deal is expected to close in the third quarter of next year and will be accretive to cash earnings per share in the first year. [Extracted from the article]

Honeywell International has announced its acquisition of the security business of Carrier Global Corp. for approximately $5 billion. This acquisition will expand Honeywell's product offerings to include electronic locks for large corporations. Honeywell, based in Charlotte, N.C., is known for its products and services in various industries, including aerospace and energy. Carrier plans to use the proceeds from the sale to pay off debt. [Extracted from the article]

Honeywell International has agreed to purchase the security business of Carrier Global Corp. for approximately $5 billion. This acquisition will expand Honeywell's product offerings to include electronic locks for large corporations, which will be integrated into their Building Automation segment. Honeywell, based in Charlotte, North Carolina, is a company that provides products and services in various industries, including aerospace and energy, and has a growing focus on cloud-based products. [Extracted from the article]