Low-cost airline Wow Air ceases operations and cancels all flights

Iceland’s budget airline Wow Air ceased operations due to increasing financial issues and a failure to secure more funds.

The bankrupt carrier has cancelled all its flights, leaving thousands of passengers stranded.

Starting operations in 2012, Wow Air operated single-aisle planes to many destinations in the US and Europe. The airline served 3.5 million passengers last year.

Harbour Air and magniX to transform seaplanes into electric fleet

North American seaplane airline Harbour Air partnered with magniX to transform its seaplanes into an all-electric commercial fleet powered by the magni500 750HP all-electric motor.

Harbour Air annually handles more than 500,000 passengers on 30,000 commercial flights through 12 routes between hubs such as Seattle and Vancouver and across the Pacific Northwest.

This partnership aims to offer clean, electric air travel.

Vector’s GalacticSky GSky-1 satellite on track for launch this year

Space technology company Vector’s GalacticSky division announced that the software-defined GSky-1 microsatellite is on track for launch later this year.

Designed to work as an on-orbit testing platform for space-based applications, the GSky-1 has been developed with the University of Southern California’s (USC) Space Engineering Research Center (SERC) at the Information Sciences Institute (ISI).

The technology enables developers to create an application and host it on an existing satellite or ad-hoc constellation comprising satellites in the GalacticSky ecosystem.

Airbus wins $35bn order from China for 300 passenger jets

European manufacturer Airbus reached a $35bn deal for the delivery of 300 passenger aircraft to Chinese airlines.

China Aviation Supplies (CAS) signed a general terms agreement (GTA) with the planemaker. The GTA was signed in Paris between Airbus Commercial Aircraft president and future Airbus CEO Guillaume Faury and CAS chairman Jia Baojun, in the presence of Chinese President Xi Jinping and French President Emmanuel Macron.

The agreement includes 290 A320 family aircraft and ten A350 XWB family aircraft.

Cathay Pacific agrees to acquire HK Express for $628m

Cathay Pacific entered a share purchase agreement to acquire budget airline Hong Kong Express Airways (HK Express) for HK$4.93bn ($628m).

The low-cost carrier is being purchased from China’s HNA Aviation Group and the deal price includes HK$2.25bn ($286m) in cash.

The transaction value also includes a non-cash consideration of HK$2.68bn ($341m), which will be paid through the issue of promissory loan notes.

Boeing releases software fixes for 737 Max aircraft

US-based aeroplane manufacturer Boeing announced a fix for 737 Max aircraft, which have been grounded worldwide after two crashes that took place within six months.

The first crash took place earlier this month when a 737 Max belonging to Ethiopian Airlines crashed immediately after take-off and killed all 157 onboard, and a Lion Air flight crashed in Indonesia last October.

BBC reported that all Boeing 737 planes will be equipped with a warning system, which was a previously paid option.

US forms new committee to review FAA’s aircraft certification process

The US Department of Transportation (DoT) created an expert committee to review the Federal Aviation Administration (FAA)’s certification procedures of new aircraft.

The committee will also review the certification of Boeing 737 Max aircraft, which was involved in two fatal crashes in less than five months.

Pending appointment of other committee members, former head of the US Transportation Command Darren McDew and former President of the Air Line Pilots Association Lee Moak will serve as interim co-chairs.

MAG Aerospace completes acquisition of Australia firm Encore Aviation

US-based MAG Aerospace (MAG) acquired Australian company Encore Aviation and its helicopter maintenance business, marking MAG’s first deal this year.

Financial details of the deal were not disclosed.

Encore Aviation is a maintenance organisation that supports Australia’s general aviation.

Private equity-led consortium to acquire Inmarsat for $3.4bn

Triton Bidco, a newly incorporated entity owned by a private equity-led consortium, agreed to purchase UK satellite telecommunications company Inmarsat for $3.4bn in cash.

The consortium includes UK-based Apax Partners, Canada Pension Plan Investment Board (CPPIB), Ontario Teachers’ Pension Plan Board (OTPP), and US-based Warburg Pincus.

The consortium said that Inmarsat will receive $7.21 in cash for each share.

Lufthansa Technik establishes data platform company Aviation DataHub

Lufthansa Technik established Aviation DataHub, an independent company to feature a platform for all data generated by the aviation industry.

Jan Stoevesand and Michael Britzke have been appointed as managing directors of Aviation DataHub.

The setting-up of Aviation DataHub is considered to be a significant step in the digitalisation of the maintenance, repair and overhaul business (MRO), as well as the integration of flight and ground-handling operations.